FANG announces new members to its board of directors

Fang Holdings Limited, a leading real estate Internet portal in China, has announced a change in its board of directors

Sam Hanhui Sun has resigned from the board. Sun's resignation did not result from any disagreement with the company on any matter relating to the company's operations, policies or practices. Fang thanks Sun for his efforts and contributions to the company.

Fang has appointed Howard Huyue Zhang, managing director of real estate investment division of CITIC Private Equity Funds Management Co., Ltd., as an independent director and member of the audit committee of the board. Upon the effectiveness of Sun's resignation and Zhang's appointment, the board will consist of five directors, including three independent directors.

Prior to joining Fang, Howard Huyue Zhang has served as a Managing Director of Real Estate investment division of CITIC Private Equity Funds Management Co., Ltd., a private equity asset management company in China, since March 2018. Zhang had served as a Managing Director at Blackstone Group (HK) Limited, a subsidiary of Blackstone Group L.P., from October 2014 to January 2018.

Zhang was the Chief Investment Officer at Infrared NF Investment Advisers Limited, a Hong Kong-based private equity real estate fund, from 2008 to September 2014, and was responsible for acquisitions in the real estate market of China. He had also worked at Citigroup Property Investors, a principal investment firm based in the United States. Zhang has extensive real estate investment and asset management experience in the Greater China area and the United States.

Zhang received a bachelor's degree from Tsinghua University in architecture and a master's degree from Massachusetts Institute of Technology in real estate. He is also a chartered financial analyst.

SOURCE Fang Holdings Limited

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