Announcement on Approval from China Banking and Insurance Regulatory Commission on Private Placement of China Guangfa Bank Co., Ltd.

The Board of Directors and all directors of China Guangfa Bank Co., Ltd. ensure that the contents of this Announcement are free from any misrepresentation, misleading statement and material omission, and that they will assume joint and several liability for the truthfulness, accuracy and integrity of the contents.

China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") recently received the Approval on the Private Placement and Shareholder Qualification of China Guangfa Bank Co., Ltd.£¨YinBaoJian Fu¡²2018¡³NO.212£© from China Banking and Insurance Regulatory Commission (CBIRC), pursuant to which, the private placement of the Bank is allowed in principal, and Jiangxi Provincial Expressway Investment Group Co., Ltd. is approved to get the qualification of major shareholders of the Bank .

The Bank will continue to carry out other application procedures with corresponding supervisory institution, and perform corresponding obligations of information disclosure based on relevant laws and regulations.

It is hereby announced.

Board of Directors, China Guangfa Bank Co., Ltd.

Octorber 9, 2018