The board of directors of Chen Xing Development Holdings Limited announced that with effect from 26 February 2021, Ms. Gao Jianhua ("Ms. Gao") has been appointed as an independent non-executive Director and member of each of the Audit Committee (the "Audit Committee"), Remuneration Committee (the "Remuneration Committee") and Nomination Committee (the "Nomination Committee") of the Company; and Mr. Tian Hua ("Mr. Tian") has been appointed as the chairman of the Audit Committee. The Board announce that with effect from 26 February 2021, Ms. Gao has been appointed as an independent non-executive Director. Ms. Gao Jianhua aged 65, is a qualified PRC lawyer with more than 39 years of experience in the legal industry. Ms. Gao has been a practising lawyer at Shanxi Fenghui Law since 1994, an arbitrator of Jinzhong Arbitration Committee since 2013 and the honorary president of Jinzhong Lawyer Association since 2015. As a result of the appointment of Ms. Gao as independent non-executive Director, with effect from the date of this announcement, Ms. Gao has been appointed as member of each of the Audit Committee, Remuneration Committee and Nomination Committee. Further, Mr. Tian has been appointed as the chairman of the Audit Committee.