2537 Lianshangfa Announces Shareholder Approval to Lift Non-Compete Restrictions for New Directors

Release Date: June 24, 115 Statement Date: June 23, 115 Statement Time: 13:53:16 Company Code: 2537 Company Name: Lianshangfa Co., Ltd. Subject: Announcement of Shareholder Meeting Resolution Approving the Lifting of Non-Compete Restrictions for Newly Appointed Directors and Their Representatives Applicable Clause: Clause 21 Factual Date: June 23, 115 Details: 1. Shareholder Meeting Resolution Date: 06/23/115 2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Director – Representative of Lianshang Investment Co., Ltd.: Mr. Su Yongyi (2) Director – Representative of Lianjie Construction Co., Ltd.: Ms. Yang Shu-mian (3) Director – Representative of Lianjie Construction Co., Ltd.: Mr. Li Zhi-ming (4) Director – Representative of Lianjie Construction Co., Ltd.: Ms. Zeng Jin-qing 3. Approved Competitive Activities: (1) Lifting of non-compete restriction for Chairman Su Yongyi to concurrently serve as Chairman of Lianshang Investment Co., Ltd., Director of Lianjing Investment Co., Ltd., Chairman of Lianshang Industrial Co., Ltd., Chairman of Lianjie Construction Co., Ltd., Supervisor of Meili Construction Co., Ltd., Director of Metropolis Living Development Co., Ltd., Chairman of Dahao Life Co., Ltd., and Supervisor of Lianshang Kenting Co., Ltd. (2) Lifting of non-compete restriction for Director Yang Shu-mian to concurrently serve as Director of Lianshang Investment Co., Ltd., Chairman of Lianjing Investment Co., Ltd., Director of Lianting Investment Co., Ltd., Director of Lianshang Industrial Co., Ltd., Chairman of Meili Construction Co., Ltd., Director of Metropolis Living Development Co., Ltd., and Director of Lianshang Kenting Co., Ltd. (3) Lifting of non-compete restriction for Director Li Zhi-ming to serve as Principal of Li Zhi-ming Architectural Firm. (4) Lifting of non-compete restriction for Director Zeng Jin-qing to serve as Principal of Yongxinjiuye Co., Ltd. and Supervisor of Yunzan Construction Co., Ltd. 4. Duration of Approved Competitive Activities: Throughout the term of office as director of the company. 5. Voting Results (Pursuant to Article 209 of the Company Act): The resolution was put to vote and approved by consent. Votes in favor: 144,736,645 Votes against: 2,176,417 Invalid votes: 0 Abstentions / Non-votes: 5,929,990 6. Directors Engaging in Competitive Activities with Mainland China-based Enterprises (Enter 'Not Applicable' if none): Not Applicable 7. Name and Position in Such Mainland China-based Enterprise: Not Applicable 8. Address of Such Mainland China-based Enterprise: Not Applicable 9. Business Scope of Such Mainland China-based Enterprise: Not Applicable 10. Impact on the Company's Financial and Operational Status: Not Applicable 11. If Directors Have Invested in Such Mainland China-based Enterprise, Investment Amount and Shareholding Ratio: Not Applicable 12. Other Matters to be Disclosed: None