Dida Inc. — Board/Management Information 2016

Aug 22, 2016

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 SUPERVISOR AND CHAIRMAN OF SUPERVISORY COMMITTEE AND APPOINTMENT OF SUPERVISOR

The Committee hereby announces that (i) Mr. Xu Wenrong has tendered his resignation as a supervisor and the chairman of the supervisory committee of the Company with effect from the date on which the appointment of supervisor as referred to below is approved by the Shareholders at the EGM; and (ii) Mr. Weng Yi has been appointed as a supervisor of the Company subject to approval by the Shareholders at the EGM.

RESIGNATION SUPERVISOR AND CHAIRMAN OF SUPERVISORY COMMITTEE

The supervisory committee (the “ Committee ”) of China Shipping Development Company Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) hereby announces that due to the Group’s redeployment of human resources, Mr. Xu Wenrong (“ Mr. Xu ”) has tendered his resignation as supervisor and the chairman of the supervisory committee of the Company with effect from the date on which the appointment of the supervisor as referred to below in this announcement is approved by the shareholders of the Company (“ Shareholders ”) at the upcoming extraordinary general meeting which is expected to be held on 19 September 2016 (the “ EGM ”).

Mr. Xu has confirmed that he has no disagreement with the Board and there is no matter relating to their respective resignation that needs to be brought to the attention of the Shareholders.

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The Company would like to take this opportunity to express its gratitude and appreciation to Mr. Xu for his valuable contributions towards safeguarding of the Shareholders’ and employees’ interests during his term of office as a supervisor and chairman of the supervisory committee of the Company.

APPOINTMENT OF SUPERVISOR

The Committee hereby announces that Mr. Weng Yi (“ Mr. Weng ”) has been appointed as a supervisor of the Company subject to the Shareholders’ approval at the EGM.

The appointment of Mr. Weng as a supervisor of the Company will take effect immediately after the approval by the Shareholders at the EGM. The particulars of Mr. Weng 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 (the “ Stock Exchange ”) are set out below.

Mr. Weng Yi (翁羿先生), born in July 1967 and aged 49, holds a master’s degree in management, and is a senior captain and senior engineer. Mr. Weng served as a captain in Guangzhou Maritime Transport (Group) Co., Ltd., deputy chief of the sailing department and deputy chief of the shipping department of China Shipping Development Co., Ltd. Tramp Co., deputy director of the shipping department of China Shipping (Group) Company, general manager of Zhuhai New Century Shipping Company Limited, deputy general manager of China Shipping Development Co., Ltd. Tramp Co., general manager of the shipping department and general manager of the operation department China Shipping (Group) Company and chief captain of China Shipping (Group) Company. Mr. Weng is currently safety director and general manager of the safety management department of China COSCO Shipping Corporation Limited.

Subject to Shareholders’ approval at the EGM of Mr. Weng’s appointment, Mr. Weng will enter into a service contract with the Company for his appointment as a supervisor of the Company for a term commencing from the date of the Shareholders’ approval at the EGM up to and including 17 June 2018 (or until the date of the annual general meeting of the Company to be held in 2018, whichever is earlier). Pursuant to the terms of such service contract, no remuneration will be payable to Mr. Weng for his office as a supervisor. The proposed service contract may be terminated by not less than three months’ notice served by either party.

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As at the date of this announcement and save as disclosed above, Mr. Weng does not hold any other positions in the Company or other members of the Group. Save as disclosed above, Mr. Weng does not hold 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 above, Mr. Weng does not have any relationship with any Director, member of senior management of the Company or substantial or controlling Shareholder. Mr. Weng 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. Weng that needs 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. Weng’s appointment as a supervisor of the Company.

Supplemental notice of the EGM to be convened to, approve, among other things, the appointment of Mr. Weng will be sent to the Shareholders in due course.

The Supervisory Committee of China Shipping Development Company Limited

Shanghai, the People’s Republic of China 22 August 2016

As at the date of this announcement, the Board comprises Mr. Sun Jiakang, Mr. Huang Xiaowen, Mr. Ding Nong and Mr. Yu Zenggang as executive Directors, and Mr. Wang Wusheng, Mr. Ruan Yongping, Mr. Ip Sing Chi, Mr. Rui Meng and Mr. Teo Siong Seng as independent non-executive Directors.

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