Dida Inc. — Board/Management Information 2016

Mar 8, 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 EXECUTIVE DIRECTOR AND VICE CHAIRMAN AND APPOINTMENT OF EXECUTIVE DIRECTOR

The Board hereby announces that (i) Mr. Zhang Guofa has tendered his resignation as an executive director and the Vice Chairman of the Company with effect from 8 March 2016; and (ii) the Board resolved to appoint Mr. Sun Jiakang as an executive director of the Company subject to approval by the Company’s shareholders at the upcoming annual general meeting.

RESIGNATION OF EXECUTIVE DIRECTOR AND VICE CHAIRMAN

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. Zhang Guofa (張國發) (“ Mr. Zhang ”), an executive director of the Company, has tendered his resignation as an executive director, the Vice Chairman of the Company, and as a member of the Board’s Strategy Committee and Nomination Committee with effect from 8 March 2016 due to the Group’s redeployment of human resources.

Mr. Zhang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation as a director and Vice Chairman 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. Zhang for his valuable contributions to the Company as director during his term of office.

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APPOINTMENT OF EXECUTIVE DIRECTOR

The Board hereby announces that the Board resolved to appoint Mr. Sun Jiakang (孫家康)(“ Mr. Sun ”) as an executive director of the Company subject to the Company’s shareholders’ approval at the upcoming annual general meeting (the “ AGM ”)which is expected to be held no later than 30 June 2016. Mr. Sun’s appointment will take effect immediately after the approval by the Company’s shareholders (the “ Shareholders ”) at the aforesaid annual general meeting. Mr. Sun’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 (the “ Stock Exchange ”) are set out below.

Mr. Sun, born in March 1960 and aged 55. He is currently the Vice President and Party Committee Member of China COSCO Shipping Corporation Limited (中國遠洋海運集團有限公司). He is currently also an executive director of China COSCO Holdings Company Limited (where its A shares are listed on the Shanghai Stock Exchange (stock code 601919) and its H shares are listed on the main board of the Hong Kong Stock Exchange (stock code 1919)) and an executive director and the chairman of COSCO International Holdings Limited (where its H shares are listed on the main board of the Hong Kong Stock Exchange (stock code 0517)). He was formerly the vice Deputy Head of Shipping Division of COSCO Tianjin, the Deputy Manager (and later the Manager) of Container Transport Division III, Manager of Container Transport Division II of COSCO Container Lines Headquarters, General Manager of Transportation Division of COSCO Group, Assistant to the President of COSCO Group, Spokesperson of COSCO Group, Executive Vice President of COSCO Hong Kong(Group) Ltd., Vice-Chairman and President of COSCO Pacific Co., Ltd, Executive Vice President and Deputy Secretary of The CPC Committee of China COSCO Holdings Co., Ltd (“ China COSCO ”), President of COSCO Container Lines Ltd (“ COSCON ”), Deputy Secretary of the CPC Committee of COSCON. He also worked as the Executive Vice President, Member of Party Committee, and Secretary of the Board of Directors of the COSCO Group. He has been working in shipping industry for over 30 years, and has abundant expertise in container shipping, terminal operation, vessel chartering, and logistics, as well as abundant experience in corporation management, capital operation, and listed company management. Mr. Sun Jiakang is a senior engineer, and holds the Master’s Degree of Dalian Maritime University. He studied transportation planning and management.

It is proposed that subject to approval by the Shareholders, Mr. Sun will enter into a service contract with the Company for his appointment as an executive director for a term from the date of Shareholders’ approval on his appointment up to 17 June 2018 (or the date of the Company’s annual general meeting in 2018, whichever is earlier).

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Pursuant to such proposed service contract, Mr. Sun will not receive any remuneration from the Group as a director. Such service contract will be subject to termination by either the Company or Mr. Sun by giving at least three months’ prior notice in writing. The notice of the annual general meeting to be convened to, among other things, approve the appointment of Mr. Sun will be sent to the Shareholders in due course.

Save as disclosed above, Mr. Sun does not hold any other position with the Company or other members of the Group and does not have any relationship with any director, member of senior management or substantial or controlling shareholder of the Company. Save as disclosed above, Mr. Sun 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. Mr. Sun 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. Sun 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. Sun’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 8 March 2016

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Xu Lirong, Mr. Huang Xiaowen, Mr. Ding Nong, Mr. Yu Zenggang, Mr. Yang Jigui, Mr. Han Jun and Mr. Qiu Guoxuan as executive Directors, 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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