According to the Board resolution dated April 14, 2020, the Board of Directors of Urban Development and Construction Corporation (stock code: UDC) unanimously approved the following issues:

1. To cancel the shareholder list for the 2020 Annual General Meeting on the record date of April 03, 2020;
2. To postpone the 2020 Annual General Meeting, tentatively scheduled for April 28, 2020 as announced, but not later than June 30, 2020.

Reason: due to the ongoing development of the COVID-19 situation.