China Zheshang Bank Co. Ltd. board of Directors announced that the Board received the resignation report tendered by Mr. Zheng Jindu on July 5, 2023. Mr. Zheng Jindu resigned from his positions as an independent non-executive Director, a member of the risk and related party transaction control committee under the Board and a member of the consumer rights protection committee under the Board due to the expiration of six-year tenure of office, which took effect upon the delivery of the resignation report to the Board.

Mr. Zheng Jindu has confirmed to the Bank that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Bank and The Stock Exchange of Hong Kong Limited. The Board announced that on July 5, 2023, the Board resolved to (i) elect Mr. Fu Tingmei as the chairman of the inclusive finance development committee under the Board, a member of the strategic committee under the Board and a member of the consumer rights protection committee under the Board; and (ii) elect Mr. Xu Yongbin as a member of the risk and related party transaction control committee under the Board. Mr. Zhang Rongsen ceased to act as the acting chairman of the inclusive finance development committee under the Board on the same date.