Bank of Gansu Co., Ltd. announced that the Board received the letter of resignation from Mr. Ma Zhiqiang, a non-executive director (employee representative director), on August 12, 2022. Due to work re-allocation, Mr. Ma resigns as a non-executive director of the Bank (employee representative director), a member of the strategy and development committee and the chairman of the consumer rights protection committee under the Board, with effect from the date on which the Board received his letter of resignation. Mr. Ma 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 would like to take this opportunity to express its sincere gratitude to Mr. Ma for his contribution to the Bank during his term of office. In accordance with the Articles of Association of the Bank, the Board shall consist of 14 directors. As at the date of this announcement, the Board of the Bank has 12 directors.

The Bank passed a resolution at the 2022 first extraordinary general meeting held on June 24, 2022 to appoint Mr. Wang Xizhen as an executive director of the Bank, the qualification of Mr. Wang Xizhen as an executive director shall be reported to the China Banking and Insurance Regulatory Commission Gansu Office for examination and approval, and the appointment shall be effective from the date of approval of his qualification. As advised by Grandall Law Firm (Shanghai), the PRC legal adviser of the Bank, although the actual number of the directors of the Bank falls below that set forth in the Articles of Association, the Board is still able to function properly. Grandall Law Firm (Shanghai) is of the view that the composition of such Board will not result in any violation of applicable PRC laws and regulations.

The Bank will identify a suitable candidate and hold a by-election for the replacement of Mr. Ma as a director as soon as possible according to the requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Bank will make further announcement(s) in due course.