BEIJING, May 22, 2019 /PRNewswire/ -- Fang Holdings
Limited (NYSE: SFUN) ("Fang" or the "Company"), a leading real
estate Internet portal in China,
today announced a change in its board of directors (the
"Board").
Mr. Sam Hanhui Sun has resigned
from the Board, effective from May 22,
2019. Mr. 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 Mr. Sun
for his efforts and contributions to the Company.
Fang has appointed Mr. 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, effective from May 22, 2019. Upon the effectiveness of Mr. Sun's
resignation and Mr. Zhang's appointment, the Board will consist of
five directors, including three independent directors.
Prior to joining Fang, Mr. 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. Mr. Zhang had served as a
managing director at Blackstone Group (HK) Limited, a subsidiary of
Blackstone Group L.P. (NYSE: BX), from October 2014 to January
2018. Mr. 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. Mr. Zhang has
extensive real estate investment and asset management experience in
the Greater China area and
the United States. Mr. 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.
About Fang
Fang operates a leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through its websites, Fang
provides primarily marketing, listing, financial and value-added
services for China's fast-growing
real estate and home furnishing and improvement sectors. Its
user-friendly websites support active online communities and
networks of users seeking information on, and other value-added
services for, the real estate and home furnishing and improvement
sectors in China. Fang currently
maintains approximately 65 offices to focus on local market needs
and its website and database contains real estate related content
covering 658 cities in China. For
more information about Fang, please visit http://ir.fang.com.
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SOURCE Fang Holdings Limited