Announcement on Directors Appointment 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 10, 2019, China Guangfa Bank Co., Ltd. (hereinafter referred as the "Bank") held the Second Extraordinary Shareholder’s Meeting in 2019. Mr. Zhao Peng and Mr. Liu Xiangyang were elected as Director of the Eighth Board of Directors of the Bank. The members of the Eighth Board of Directors of the Bank are increased from 15 to 16.

The independence opinions expressed by the Independent Directors of the Bank with respect to above nomination of directors are as follows: the decision-making procedures to nominate Mr. Zhao Peng and Mr. Liu Xiangyang as the Directors of the Bank is in compliance with the relevant laws and regulations and the relevant requirements of the Articles of Association, the qualification of nominees accords with the relevant  requirements of China Banking and Insurance Regulatory Commission (CBIRC) and all the Independent Directors of the Bank agree this approval.  

According to relevant regulations, the qualifications of Mr. Zhao Peng and Mr. Liu Xiangyang are still subject to the approval of CBIRC, with the same tenure as that of the Eighth Board of Directors.

It is hereby announced.

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

December 12, 2019

1.Resume of Mr. Zhao Peng

Mr. Zhao Peng, Male, Han Nationality, born in April 1972, holds an MBA degree.

Mr. Zhao now serves as Director (qualification to be approved) of the Bank, Vice President and the CFO of China Life Insurance Company Limited.

From 1995 to 2003, Mr. Zhao served successively as an officer of Funds Department, an officer of Financial Management Department, Deputy Director and Director of Funds Department of Financial Planning Division of China Life Insurance Company Limited. From 2003 to 2014, he served successively as Director of Fund Management Department, Director of Fund Management Department and Assistant Manager of Finance Division, Assistant Manager, Deputy General Manager and General Manager of Finance and Accounting Division, General Manager of Finance Division of China Life Insurance (Group) Company. From 2014 to 2015, he served successively as Vice President (as the same level as President of Provincial Branch) and Person in charge of Zhejiang Provincial Branch of China Life Insurance Company Limited. From January 2015 to October 2017, he served as President of Zhejiang Provincial Branch of China Life Insurance Company Limited. From October 2017 to March 2018, he served as Assistant President of China Life Insurance Company Limited. From March 2018, he served as Vice President of China Life Insurance Company Limited, and held concurrent post as CFO from July 2019.

Mr. Zhao graduated from Hunan College of Finance & Economics majoring in actuarial science and received bachelor’s degree in economics on July 1995, graduated from Central University of Finance and Economics majoring in Finance and received master’s degree in economics on June 2002, and graduated from Tsinghua University majoring in business administration and received an MBA degree.

 

2.Resume of Mr. Liu Xiangyang

Mr. Liu Xiangyang, Male, Han Nationality, born in 1978, holds a master’s degree of engineering, is a senior auditor.

Mr. Liu now serves as Director (qualification to be approved) of the Bank, Director of Financial Management Division of Jiangxi Provincial Expressway Investment Group Co., Ltd..

Mr. Liu served successively as Principal Staff Member and Vice Consultant of Audit Department of Jiangxi Provincial Department of Transportation, as Director of Audit Division, Deputy Director (taking charge of work ) and Director of Risk Control and Audit Division of Jiangxi Provincial Expressway Investment Group Co., Ltd..