Announcement on New Term of the Board of Directors and Senior Management 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 June 23, 2020, China Guangfa Bank Co., Ltd. (hereinafter referred to as "the Bank") held the 2019 Annual General Meeting of Shareholders, Mr.Wang Bin, Mr.Yin Zhaojun, Mr.Su Hengxuan, Mr.Yin Yi, Ms.Zhang Di, Mr.Li Ronghua, Mr.Liu LiXiao, Mr.Cai Chengwei, Mr.Dai Jiakai and Mr.Liu Xianyang were elected as Directors of the Ninth Board of Directors, and Mr.Tang Xiaoqing, Mr.Chen Yachu, Mr.Guo Yunzhao, Mr.Chen Shimin and Mr.Zhao Xudong were elected as Independent Directors of the Ninth Board of Directors.

In accordance with relevant laws and regulations, regulatory requirements and the articles of association of the bank, the term of office of the Directors and Independent Directors of the Ninth Board of Directors is three years. The term of office of the directors or independent directors who are reelected and qualifications have been approved will performance duties from the date when they are elected at the 2019 Annual General Meeting of Shareholders of the bank. Who has been newly nominated and qualifications hasn¡¯t been approved, will performance duties from the date when approved by the Bank Insurance Regulatory Commission. The term of the Ninth Board of Directors will last until the expiration of the ninth board of directors.

On June 23, 2020, the Bank held the First Meeting of the Ninth Board of Directors, Mr.Wang Bin was elected as the Chairman of the Board; Mr.Yin Zhaojun was elected as the Vice Chairman of the Board; Mr.Yin Zhaojun was appointed as the President;  Mr.Yin Yi, Mr.Luo Yubing, Mr.Zong Lexin, Mr.Wang Bing, Mr.Zheng Xiaolong and MS.Xu Hongxia were appointed as the Vice Presidents, Mr.Li Guangxin was appointed as the Secretary of the Board of Directors, and Mr.Lin Deming and Mr.Fang Qi were appointed as the Assistant President. The term of office of Senior Management is consistent with that of the Ninth Board of Directors.

It is hereby announced.

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