Announcement on Approval from China Securities 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 of China Guangfa Bank Co., Ltd.£¨ZhengJianXuKe¡²2018¡³NO.2015£© from China Securities Regulatory Commission (CSRC), pursuant to which, the Bank is allowed to conduct private offering no more than 4,284,799,008 shares. The approval is effective within 12 months from the date of issue.

The Bank will continue to carry out the private placement in accordance with the relevant laws and regulations, and the approval from CSRC, 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.

December 7, 2018