Announcement on Approval of Qualification as Director and Vice Chairman and President by The CBIRC 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 February 2,2021, China Guangfa Bank Co., Ltd. (hereinafter referred to as the "Bank") held the Sixth Meeting of the Ninth Board of Directors. Mr. Wang Kai was appointed as President of the Bank. On March 2, 2021, the Bank held the Second Extraordinary Shareholder¡¯s Meeting in 2021 and Mr. Wang Kai was elected as Director of the Ninth Board of Directors of the Bank. On the same day, the Bank held the Seventh Meeting of the Ninth Board of Directors and Mr. Wang Kai was elected as the Vice Chairman, with all tenures the same as that of the Ninth Board of Directors.

Recently, the Bank receives the Reply of China Banking and Insurance Regulatory Commission on the Post Qualification of Wang Kai from China Guangfa Bank (Yin Bao Jian Fu [2021] No. 366). Pursuant to the approval, the qualification of Mr. Wang Kai as Director and Vice Chairman and President of the Bank has been approved by the CBIRC and his term of service commenced on May 17, 2021.

The Board of Directors hereby delivers its sincere congratulations on the appointment of Mr. Wang Kai as Director and Vice Chairman and President of the Bank.

It is hereby announced.

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

May 20, 2021