China Cinda Asset Management Co., Ltd. announced that on March 16, 2022, Mr. ZHANG Zi'ai, the Chairman of China Cinda Asset Management Co., Ltd. intends to resign for reason of his age. A resolution on election of the Chairman was approved at the third meeting of the board of directors of the Company in 2022, in which Mr. ZHANG Weidong was elected as the Chairman of the Company. He has been serving as the Executive Director and President of the Company since January 2020.

A proposal on the nomination of a candidate for director was approved at the third meeting of the Board in 2022, in which Mr. ZHAO Limin was nominated as an executive director of the Company. He has been serving as the Vice President of the Company since May 2021.