Announcement on Engagement of the Accounting Firms for 2020 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 November 16, 2020, China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") held the Third Meeting of the Ninth Board of Directors. The meeting considered and approved the proposal on the Engagement of the Accounting Firms in 2020, agreed that Ernst & Young Hua Ming (Special General Partnership) and Ernst & Young be engaged to audit the financial statement of the Bank for 2020, whose tenure is one year, and the audit fees shall not exceed RMB 7.60 million.

The independence opinions expressed by the Independent Directors of the Bank with respect to above engagement are as follows: the decision-making procedures to select and employ Ernst & Young Hua Ming (Special General Partnership) and Ernst & Young as the audit institutions of the Bank for 2020 is in compliance with the relevant laws and regulations and the relevant requirements of the Articles of Association, and all the Independent Directors of the Bank agree this approval.

It is hereby announced.

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

November 16, 2020