Announcement on Resignation of Vice Chairman of the Board, President 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.

The Board of Directors of China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") recently received a letter of resignation from Mr. Liu Jiade. Mr. Liu Jiade resigned as the vice chairman of the Board, director, a member of strategy/consumer protection committee under BOD and the president of the Bank. According to the Article of Association of the Bank, when the BOD received his letter of resignation, the resignation of Mr. Liu Jiade became effective simultaneously.

Mr. Liu Jiade has confirmed that he has no disagreement with the Board of Directors of the Bank and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Bank.

The Board of Directors would like to express its gratitude to Mr. Liu Jiade for his contribution to the Bank during his tenure of service.

It is hereby announced.

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

July 29, 2019