SFUNY · Fang Holdings Limited

The appointment of Qifang Liu as an independent director and audit committee member reflects Fang’s ongoing governance enhancement efforts, particularly important for a foreign private issuer trading over-the-counter in the U.S. Her background—spanning public welfare leadership (Jilin Province Public Welfare and Charity Foundation), academic service (Professor at Yanbian University), and prior corporate roles (General Manager of Great Wall Guanglian; Director of the 'Jixin Project')—introduces diversified oversight perspectives beyond traditional real estate or finance domains. The filing explicitly states that her appointment increases the Board to six members, four of whom are independent—a structural shift that may support compliance with evolving investor expectations around board independence, even though SFUNY is not listed on a U.S. national exchange. No compensation terms were disclosed, and no related party transactions or conflicts were referenced. As this is a director appointment—not an executive officer change—the implications center on long-term governance quality rather than operational continuity or strategic execution risk.