The board of directors of Zall Development Group Ltd. announced that, with effect from 29 February 2016, Ms. Yang Qiongzhen (Ms. Yang) has resigned as an independent non-executive director of the Company and as the chairman of the nomination committee and a member of the audit committee and the remuneration committee of the Company due to her other business commitments which require more of her dedication and time commitment. The Board further announced the appointment of Mr. Wu Ying (Mr. Wu) as an independent non-executive director of the Company and as the chairman of the nomination committee and a member of the audit committee and the remuneration committee with effect from 29 February 2016.