China Qinfa Group Limited announced that Mr. LAU Sik Yuen will retire by rotation in accordance with Article 84(1) of the Articles. Mr. LAU Sik Yuen, an independent non-executive Director and the chairman of audit committee of the Company, will be subject to retirement by rotation according to the Company's Articles of Association and will not offer himself for re-election at the Annual General Meeting due to his work re-allocation. Upon the conclusion of the Annual General Meeting to be held, Mr. LAU Sik Yuen will cease to be an independent non-executive Director and the chairman of audit committee of the Company.

Mr. LAU Sik Yuen confirmed that he has no disagreement with the Board and there are no matters relating to his retirement that need to be brought to the attention of the Shareholders of the Company.