New City Development Holdings Lv Xiaoping Resigns from the Positions of Executive Director and Others, Effective March 16, 2026

Xincheng Development Holdings Limited recently announced an important personnel change. The company’s Executive Director, Chief Executive Officer, and member of the Environmental, Social, and Governance Committee, Lu Xiaoping, has formally submitted his resignation. The announcement states that Lu Xiaoping needs to devote more time to personal affairs and has decided to resign from his current position, with the resignation officially effective from March 16, 2026.

According to the announcement, Lu Xiaoping had fully communicated with the board of directors before resigning, confirming that there are no disagreements and no other matters requiring special disclosure to shareholders or the Hong Kong Stock Exchange. The board of directors highly recognizes his outstanding contributions in strategic planning, business development, and sustainable growth during his tenure, and expresses sincere gratitude.

Regarding the vacancy of the Chief Executive Officer position, Xincheng Development has initiated a global talent search plan, which will comprehensively evaluate candidates’ professional abilities, industry experience, and strategic vision to ensure that the new CEO can continue the company’s steady development. The company promises to disclose relevant information through official channels as soon as the final candidate is determined.

Market analysts note that this senior management change is a normal personnel adjustment and is not expected to significantly impact Xincheng Development’s daily operations. In recent years, the company has continued to focus on commercial real estate development and smart city construction. Its 2023 financial report shows that its core business indicators have maintained stable growth.