Announcement on Electing Directors 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 January 14, 2020, China Guangfa Bank Co., Ltd. (hereinafter referred as the "Bank") held the First Extraordinary Shareholder’s Meeting in 2020. Mr. Li Ronghua and Mr. Liu Lixiao were elected as Director of the Eighth Board of Directors of the Bank.

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. Li Ronghua and Mr. Liu Lixiao 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. Li Ronghua and Mr. Liu Lixiao 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.

January 14, 2020

1.Resume of Mr. Li Ronghua

Mr. Li Ronghua, Male, Han Nationality, born in March 1966, holds an EMBA degree.

Mr. Li now serves as Director (qualification to be approved) of the Bank, Deputy General Accountant and Member of the Direct-affiliated CPC Committee of State Grid Corporation of China, and holds concurrent post as Chairman and Secretary of the CPC Committee of State Grid Yingda International Holdings Co., Ltd..

From February 1997 to January 2003, Mr. Li served successively as Deputy Director, Director of Finance Department of State Grid Hunan Electric Power Company Limited. From January 2003 to November 2014, he served successively as Director, Vice Manager and Manager of Finance Department of State Grid Corporation of China. From November 2014 to March 2018, he served successively as Manager of Finance Department and held concurrent post as Deputy General Accountant of State Grid Corporation of China, Deputy General Accountant of State Grid Corporation of China and held concurrent post as Chairman and Secretary of the CPC Committee of State Grid Overseas Investment Limited (Hong Kong). From March 2018 to June 2018, he served as Deputy General Accountant of State Grid Corporation of China, and held concurrent post as Chairman and Secretary of the CPC Committee of State Grid Yingda International Holdings Co., Ltd.. He had served as current post since June 2018.

Mr. Li graduated from Zhongnan University of Economics majoring in accounting and received bachelor’s degree on February 1998, graduated from Wuhan University and received EMBA degree on July 2004.

 

2.Resume of Mr. Liu Lixiao

Mr. Liu Lixiao, Male, Han Nationality, born in October 1974, holds an MBA degree.

Mr. Liu now serves as Director (qualification to be approved) of the Bank, Manager of Corporate Banking Department and holds concurrent post as Manager of Insurance Business Department of State Grid Yingda International Holdings Co., Ltd..

From June 2007 to October 2011, Mr. Liu served successively as Senior Officer and Senior Business Director of Development Planning Department of Yingda Chang’an Insurance Brokers Co., Ltd. From October 2011 to October 2014, he served successively as Senior Director of Business Coordination Department, Senior Director and Assistant Manager of Investment Management Department State Grid Yingda International Holdings Co., Ltd.. From October 2014 to July 2018, he served successively as Deputy Manager of Investment Management Department, Deputy Manager and Manager of Banking Department of State Grid Yingda International Holdings Co., Ltd.. He had served as current post since July 2018.

Mr. Liu graduated from Wuhan University of Water Resources and Hydropower Engineering majoring in automatic industry and received bachelor’s degree on July 1996, graduated from Xiamen University and received MBA degree on June 2005.