Dida Inc. — Board/Management Information 2012

Jun 29, 2012

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 OF EXECUTIVE DIRECTOR AND

APPOINTMENT OF EXECUTIVE DIRECTOR

AND ELECTION OF CHAIRMAN AND VICE-CHAIRMAN

The Board hereby announces that (i) Mr. Lin Jianqing has resigned as an executive Director with effect from 29 June 2012; (ii) the Board resolved to appoint Mr. Ding Nong as an executive Director subject to Shareholders’ approval at the upcoming extraordinary general meeting; and (iii) the executive Directors Mr. Li Shaode, Mr. Xu Lirong and Mr. Zhang Guofa were appointed as the Company’s Chairman, Vice Chairman and Vice Chairman, of the seventh session of the Board, respectively.

RESIGNATION OF EXECUTIVE DIRECTOR

The board (the “Board”) of directors (“Directors”) of China Shipping Development Company Limited (the “Company” and together with its subsidiaries, the “Group”) hereby announces that Mr. Lin Jianqing (林建清) (“Mr. Lin”), an executive Director, has resigned as an executive Director with effect from 29 June 2012, due to redeployment of human resources.

Mr. Lin has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation as an executive Director that needs to be brought to the attention of the shareholders of the Company (“Shareholders”).

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

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board announces that the Board resolved to appoint Mr. Ding Nong (丁農) (“Mr. Ding”) as an executive Director subject to the Shareholders’ approval at the upcoming extraordinary general meeting, expected to be held no later than 30 September 2012. Mr. Ding’s appointment will take effect immediately after the Shareholders’ approval at the aforesaid extraordinary general meeting. Mr. Ding’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. Ding Nong, born in May 1961 and aged 51, has a master degree and is now the deputy general manager of China Shipping (Group) Company. Mr. Ding obtained his bachelor degree from Shanghai Maritime University with a professional qualification in marine engineering in 1982 and obtained his master degree from Shanghai Maritime University with a professional qualification in transportation planning and administration in 2003. Mr. Ding started his career in 1982 and was a ship chief engineer of Guangzhou Bureau of Maritime Transportation Administration (“BOMTA”), the deputy general manager of the technical department of Taihua Oil Shipping Company of Guangzhou BOMTA, the assistant to the general manager and the deputy general manager of Guangzhou Shipping (Group) Company, the deputy general manager of the Bulk Carrier Branch of the Company, the general manager of China Shipping and Sinopec Suppliers Co., Ltd., the assistant to the president of China Shipping (Group) Company and the general manager of China Shipping International Ship Management Co., Ltd.

It is proposed that subject to the Shareholders’ approval, Mr. Ding will enter into a service contract with the Company for his appointment as an executive Director for a term from the date of obtaining the Shareholders’ approval on his appointment up to 19 June, 2015 or the date of the Company’s annual general meeting in 2015 (whichever the earlier). Pursuant to such proposed service contract, Mr. Ding will not receive any remuneration from the Group. 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. Ding will be sent to the Shareholders in due course.

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Save as disclosed above, Mr. Ding does not hold any other position with the Company or other members of the Group. Mr. Ding 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. Ding does not have any relationship with any director, member of senior management or substantial or controlling shareholder of the Company. As at the date of this announcement, Mr. Ding 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. Ding’s appointment as an exectuive Director to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules. There is no other matter which needs to be brought to the attention of the Shareholders in respect of Mr. Ding’s appointment as an executive Director.

ELECTION OF CHAIRMAN AND VICE CHAIRMAN

The Board would also like to announce that the executive Directors Mr. Li Shaode, Mr. Xu Lirong and Mr. Zhang Guofa were elected by the Board as the Company’s Chairman, Vice Chairman and Vice Chairman, of the seventh session of the Board, respectively.

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

Company secretary

Shanghai, the People’s Republic of China 29 June 2012

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Li Shaode, Mr. Xu Lirong, Mr. Zhang Guofa, Mr. Wang Daxiong, Mr. Yan Zhichong and Mr. Qiu Guoxuan as executive Directors, Mr. Zhu Yongguang, Mr. Zhang Jun, Mr. Lu Wenbin and Mr. Wang Wusheng as independent non-executive Directors.

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