Mr. Li, aged 54, is currently the director and general manager of Shanghai Baodi Shangshi Industrial City Development Co., Ltd.* (上海寶地上實產城發展有限公司) and Shanghai Baodi Lingang Industrial City Development Co., Ltd.* (上海寶地臨港產城發展 有限公司), and serves as the chairman and general manager of Shanghai Shangshi New City Development Co., Ltd.* (上海上實新城市開發有限公司). He holds a Bachelor Degree of Engineering in Real Estate and Surveying from Tongji University and a Master Degree of Business Administration from China Europe International Business School. Mr. Li has over 30 years of experience in property development and management. Mr. Li previously held various positions, including deputy officer of the Shanghai Xuhui District Property Management Bureau, officer of the Xuhui District Real Estate Trading Centre, officer of the Xuhui District Land Development Centre, general manager of Xuhui District Land Development Co., Ltd.* (徐匯區土地發展有限公司), deputy director of the Xuhui District Housing Development Bureau, director and general manager of Shanghai Xuhui Waterfront Development Construction Investment Co., Ltd.* (上海徐匯 濱江開發建設投資有限公司), and chairman and general manager of Shanghai West Bund Development (Group) Co., Ltd.* (上海西岸開發（集團）有限公司). He currently serves as vice chairman of Shanghai Urban Development (Holdings) Co., Ltd. (a subsidiary of the Company) as well as a director of certain subsidiaries of the Company.

* The English names of these entities are translations from their Chinese names and are for identification purpose only.