Central Development Holdings Limited — Board/Management Information 2019

Dec 15, 2019

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED 中國資源交通集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

CHANGE OF CHIEF EXECUTIVE OFFICER

The Board of the Company announces that with effect from 13 December 2019:

1. Mr. Gao Zhiping (“ Mr. Gao ”), an executive director of the Company, has been appointed as the chief executive officer of the Company; and

2. Mr. Jiang Tao (“ Mr. Jiang ”) has resigned as the chief executive officer of the Company but remains as an executive director of the Company.

Change of Chief Executive Officer

The Board of Directors (the “ Board ”) of China Resources and Transportation Group Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) announces that with effect from 13 December 2019, Mr. Gao, an executive director of the Company, has been appointed as the chief executive officer of the Company (the “ CEO” ) in lieu of Mr. Jiang.

Mr. Gao, aged 57, was appointed as an executive director of the Company on 17 June 2013. Mr. Gao graduated from China Europe International Business School (中歐國際工商學院) with a Master of Business Administration in November 2004 and was accredited as a senior economist by the Technology Committee of Henan Province (河南省科委) in December 1998 and by the State Grid Corporation of China (國家電網公司) in December 2005. He has received the awards of Distinctive Young Enterprise Management Personnel (河南省優秀青年企業經營管理者) from Henan Provincial Young Entrepreneurs Association (河南省青年企業家協會) in April 1999, Distinctive Pilot Project Construction Personnel of Henan Province (河南省重點項目建設先進工

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作者) and Model Worker of Henan Province (河南省勞動模範) from the People’s Government of Henan Province (河南省人民政府) in February 2008 and April 2009, respectively.

From October 1980 to December 1994, he served various departments in the government, and took up various positions in local administrative office of Nanyang Prefecture in Henan Province (河南省南陽地區行政公署) and Nanyang City People’s Government (南陽市人民政府) as the government office clerk, secretary and chief officer.

From December 1994 to 2007, he was positioned as the deputy general manager, the secretary general of disciplinary committee, president of labour union of Nanyang Yahekou Electricity Company Limited (南陽鴨河口發電有限責任公司) and the vice general manager of Nanyang Tianyi Power Generation Co., Ltd. (南陽天益發電有限責任公司), both being subsidiaries of Henan Construction Investment Group (河南省建設投資集團公司). He was the deputy general manager from September 2008 to April 2010 and the secretary of party committee from October 2008 to March 2010 of Nanyang Yahekou Electricity Company Limited (南陽鴨河口發電有限責 任公司).

From October 2010 to February 2014, he has been appointed as the general manager of Inner Mongolia Zhunxing Heavy Haul Expressway Company Limited (內蒙古准興重載高速公路有限 責任公司) (“ Zhunxing ”), an indirect subsidiary of the Company. Since February 2014, he has served as the chairman of the board of directors of Zhunxing, and has made great contribution to the management of Zhunxing and construction of the expressway of Zhunxing

No new service agreement will be entered into by Mr. Gao with the Company in relation to his appointment as the CEO and his terms of service with the Company will continue to be governed by his existing service agreement entered into with the Company as an executive director of the Company, thus there will not be any change in remuneration due to his appointment as a CEO. Mr. Gao’s annual salary entitlement for his services as an executive director of the Company is approximately HK$2,760,000 with discretionary bonus and other benefits at the sole and absolute discretion of the Board and its remuneration committee. Mr. Gao’s remuneration was determined by the Board based on the recommendation of the remuneration committee of the Company with reference to his duties and responsibilities, experience and the prevailing market conditions.

Save as disclosed in this announcement, Mr. Gao did not hold any directorships in any other listed public companies in the last three years and he does not have any relationships with any directors, senior management, substantial shareholders or controlling shareholders of the Company. Mr. Gao does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571, the Laws of Hong Kong). There is no other information relating to the appointment of Mr. Gao as the CEO that needs to be brought to the attention of the shareholders of the Company nor any information that needs to be disclosed pursuant to the provisions of Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

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The Board also announces that with effect from 13 December 2019, Mr. Jiang has resigned as the CEO but remains as an executive director of the Company.

Mr. Jiang confirmed that he has no disagreement with the Board and there are no matters that need to be brought to the attention of the shareholders of the Company or the Stock Exchange in relation to his resignation as the CEO.

By Order of the Board China Resources and Transportation Group Limited Cao Zhong Chairman

Hong Kong, 13 December 2019

As at the date of this announcement, the board of directors comprises six executive directors, namely Messrs Cao Zhong, Fung Tsun Pong, Gao Zhiping, Tsang Kam Ching, David, Jiang Tao and Duan Jingquan; a non-executive director, namely Mr. Suo Suo Stephen and four independent non-executive directors, namely Messrs Jing Baoli, Bao Liang Ming, Xue Baozhong and Ms. Chan Chu Hoi.

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