China Bohai Bank Co., Ltd. announced that it has recently received the "Approval from the China Banking and Insurance Regulatory Commission on the Opening of CBHB Wealth Management Co., Ltd., pursuant to which the China Banking and Insurance Regulatory Commission has approved the opening and the commencement of business of CBHB Wealth Management Co., Ltd., a wholly-owned subsidiary of the Bank. CBHB Wealth Management was established in Tianjin with a registered capital of RMB2 billion. It is mainly engaged in the public issuance of wealth management products to the general public, non-public issuance of wealth management products to qualified investors, consultancy and advisory services on wealth management, and other relevant businesses.

The establishment of CBHB Wealth Management is an important strategic initiative for the Bank to implement regulatory requirements strictly, facilitate the a healthy development of the wealth management business and drive the return of the Bank's wealth management business to the essence of asset management business. As a wholly-owned subsidiary of the Bank, CBHB Wealth Management is an important layout for the Bank to implement its business strategy, enrich its financial products and services, and meet diversified financial service demands of its customers. The Bank will implement the relevant procedures in strict compliance with laws and regulations, and handle the opening and the commencement of operation of CBHB Wealth Management to provide its customers with services in due course.