Announcement on Approval of Qualification as Chairman by The CBIRC 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.

On December 25, 2018, China Guangfa Bank Co., Ltd. (hereinafter referred  as "the Bank") held the First Extraordinary Shareholder's Meeting in 2018 and Mr. Wang Bin was elected as Director of the Eighth Board of Directors of the Bank. On the same day, the Bank held the Sixth Extraordinary Meeting of the Eighth Board of Directors in 2018 and Mr. Wang Bin was elected as Chairman of the Board of Directors.

The Bank received the Reply of China Banking and Insurance Regulatory Commission on the Post Qualification of Wang Bin from China Guangfa Bank (Yin Bao Jian Fu [2019] No. 340) today. Pursuant to the approval, the qualification of Mr. Wang Bin as Director and Chairman of the Board of Directors of the Bank has been approved by the CBIRC and his term of service commenced on March 15, 2019.

The Board of Directors hereby delivers its sincere congratulations on the appointment of Mr. Wang Bin as Chairman of the Bank.

It is hereby announced.

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

March 20, 2019