Dida Inc. — Board/Management Information 2011

Jan 31, 2011

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 SHIPPING DEVELOPMENT COMPANY LIMITED 中海發展股份有限公司

(a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1138)

RESIGNATION AND APPOINTMENT OF EXECUTIVE DIRECTOR

The Board hereby announces that Mr. Mao Shijia has resigned as an executive director of the Company and a member of the Board’s strategy committee with effect from 30 January 2011. Further, the Board resolved to appoint Mr. Yan Zhichong as the executive director of the Company subject to shareholders approval at the upcoming extraordinary general meeting.

RESIGNATION OF EXECUTIVE DIRECTOR

The board of directors (the “ Board ”) of China Shipping Development Company Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) hereby announces that Mr. Mao Shijia (茅士家) (“ Mr. Mao ”), an executive director of the Company, has resigned as an executive director of the Company and a member of the Board’s strategy committee with effect from 30 January 2011 due to redeployment of human resources.

Mr. Mao has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation as an executive director of the Company that needs to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its gratitude and appreciation to Mr. Mao for his valuable contribution to the Company as an executive director during his term of office.

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APPOINTMENT OF EXECUTIVE DIRECTOR

The Board further announces that the Board resolved to appoint Mr. Yan Zhichong (嚴志沖) (“ Mr. Yan ”) as an executive director of the Company subject to shareholders approval at the upcoming extraordinary general meeting. Mr. Yan’s appointment will take effect immediately after shareholders’ approval at the aforesaid extraordinary general meeting. Mr. Yan’s particulars which are required to be disclosed by the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (“ Stock Exchange ”) are set out below.

Mr. Yan Zhichong, born in May 1957 and aged 53, is a senior engineer. He is currently the general manager of the Company, a non-executive director of China Shipping Container Lines Co., Ltd. and a director of China Shipping Haisheng Co., Ltd. (a company listed on the Shanghai Stock Exchange). He was formerly the general manager of China Shipping Development Company Limited Guangzhou Tanker Branch, the general manager of the transportation department of China Shipping (Group) Company, the vice president of China Shipping (H.K.) Holdings Co., Ltd., the general manager of China Shipping International Ship Management Co., Ltd. and the general manager of Guangzhou Marine Transport (Group) Company Limited. Mr. Yan was an executive director of the Company from May 2002 to May 2003 and a supervisor of the Company from October 2007 to January 2011.

It is proposed that subject to shareholders’ approval, Mr. Yan enter into a service contract with the Company for his appointment as an executive director for a term from the date of obtaining shareholders’ approval on his appointment up to the date of the Company’s annual general meeting in 2012. Pursuant to such proposed contract, it is expected that Mr. Yan will be entitled to an annual remuneration of about RMB800,000 per year as determined by reference to the prevailing market rate and his time, effort and expertise expected to be devoted by him to the Company’s affairs. Both the Company and Mr. Yan consider such remuneration to be reasonable. Such service contract shall be terminated by either party giving at least three months’ prior notice in writing. The notice of the extraordinary general meeting to be convened to, amongst other things, approve the appointment of Mr. Yan will be sent to the shareholders of the Company in due course.

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Save as disclosed above, Mr. Yan does not hold any other position with the Company or other members of the Group. Save as disclosed above, Mr. Yan does not and has not, in the past three years, held any directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas. Save as disclosed herein, Mr. Yan does not have any relationship with any director, member of senior management or substantial or controlling shareholder of the Company. Mr. Yan 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 of the Laws of Hong Kong).

Save as disclosed above, there is no other information relating to Mr. Yan to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules. There is also no other matter which needs to be brought to the attention of the Shareholders in respect of Mr. Yan’s appointment as an executive director of the Company.

By Order of the Board of Directors China Shipping Development Company Limited Yao Qiaohong

Company Secretary

Shanghai, the People’s Republic of China 31 January 2011

As at the date of this announcement, the Board of Directors of the Company is comprised of Mr.Li Shaode, Mr. Ma Zehua, Mr. Lin Jianqing, Mr. Wang Daxiong, Mr. Zhang Guofa and Mr. Qiu Guoxuan as executive directors, Mr. Zhu Yongguang, Mr. Gu Gongyun, Mr. Zhang Jun and Mr. Lu Wenbin as independent non-executive directors.

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