Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Huishang Bank Corporation Limited*

徽 商 銀 行 股 份 有 限 公 司 *

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3698 and 4608 (Preference Shares))

RESIGNATION OF AN INDEPENDENT NON-EXECUTIVE

DIRECTOR, MEMBER OF NOMINATION AND REMUNERATION COMMITTEE, MEMBER OF RISK MANAGEMENT COMMITTEE AND CHAIRMAN OF RELATED

PARTY TRANSACTION CONTROL COMMITTEE

The board of directors (the "Board") of Huishang Bank Corporation Limited (the "Bank") announced that the Board received the resignation tendered by Mr. Hu Jun, an independent non-executive director, on October 25, 2019, resigning from the positions as an independent non-executive director, a member of the nomination and remuneration committee, a member of the risk management committee and the chairman of the related party transaction control committee of the Bank as he would like to devote more time to other business commitments. The resignation will take effect on October 25, 2019.

Mr. Hu Jun has confirmed that he has no disagreement with the Board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders and creditors of the Bank or The Stock Exchange of Hong Kong Limited.

The Board wishes to express its appreciation for Mr. Hu Jun's contribution during his tenure of office.

The Board is aware that, upon the resignation of Mr. Hu Jun taking effect, the number of members of the nomination and remuneration committee of the Bank will be reduced to 8, which does not comply with Rule 3.25 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Code Provision A.5.1 of the Corporate Governance Code set out in Appendix 14 to the Listing Rules which require the committee comprises a majority of independent non-executive directors.

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The Bank will use its best endeavors to identify a suitable candidate to fill the relevant vacancy as soon as possible to comply with the above requirements as soon as practicable and will make further announcements in due course.

By order of the Board

Huishang Bank Corporation Limited*

Wu Xuemin

Chairman

Hefei, Anhui Province, China

October 25, 2019

As at the date of this announcement, the Board of the Bank comprises Wu Xuemin, Zhang Renfu and He Jiehua as executive directors; Zhu Yicun, Wu Tian, Qian Dongsheng, Gao Yang, Wang Wenjin and Zhao Zongren as non-executive directors; Zhou Yana, Dai Peikun, Yin Jianfeng, Huang Aiming and Liu Zhiqiang as independent non-executive directors.

  • Huishang Bank Corporation Limited is not an authorized institution within the meaning of the Hong Kong Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking/deposit-taking business in Hong Kong.

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Huishang Bank Corp. Ltd. published this content on 25 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2019 15:00:03 UTC