The board of directors of China Huarong Asset Management Co., Ltd. announced that the Board has resolved at the Board meeting held on 11 July 2023 to appoint Mr. Wen Jinxiang as the chief risk officer of the Company, appoint Mr. Yuan Caiping as the assistant to the President of the Company, and appoint Mr. Wang Yongjie as the secretary to the Board and the joint company secretary of the Company, details of which are as follows: Mr. Wen Jinxiang, aged 58, is a senior economist and currently serves as the assistant to the President of the Company. In August 1985, he worked in Jiangsu Commerce College. He worked at Suzhou Branch of CITIC Industrial Bank in February 1993 and successively served as a staff member of Capital Department and deputy manager of the Credit Review Department.

He served as the vice president of Suzhou Branch in February 2000, a member of the Party Committee and vice president of Suzhou Branch in January 2005, the deputy secretary of the Party Committee and vice president of Dalian Branch in May 2005, general manager of the Corporate Banking Department of China CITIC Bank in March 2007, during which he also had concurrently served as general manager of the Small-Enterprise Financial Center from June 2009 to May 2010; the secretary of the Party Committee of Suzhou Branch of China CITIC Bank in May 2013; the secretary of the Party Committee as well as the president of Suzhou Branch in August 2013. Since January 2019, Mr. Wen has successively served as general manager of Shanghai Auditing Center of the Auditing Department of China CITIC Bank (general manager level at first-tier department), general manager of Strategic Account Department and general manager of Credit Approval Department, during which he also had concurrently served as general manager of the Legal Security Department from November 2021 to January 2022. Mr. Wen served as general manager of Credit Administration Department from January 2022 to August 2022 and has been serving as the assistant to the President of the Company since August 2022.

Mr. Wen obtained his master's degree of Economics in July 1991. Mr. Yuan Caiping, aged 57, is an accountant and currently serves as the secretary of the Party Committee of Jiangsu Branch of the Company. Mr. Yuan started his career in the Tax Bureau of Suqian, Jiangsu Province in July 1986.

He participated in the preparation of Suqian Sub-branch of Bank of China in Jiangsu Province in May 1988, and successively served as deputy head of Credit Division and head of Account Division. He successively served as vice president (in charge of work) and president of Shuyang Sub-branch under Suqian Branch of Bank of China from March 1997 to January 2002; member of the Party Committee, member of the Party Committee and vice president of Suqian Branch of Bank of China in Jiangsu Province from March 2002 to June 2007; president of Jiangning Sub-branch of Bank of China in Nanjing, Jiangsu Province, secretary of the Party Committee and president of Xuzhou Branch of Bank of China in Jiangsu Province, secretary of the Party Committee and president of Yangzhou Branch of Bank of China in Jiangsu Province from June 2007 to October 2016; member of the Party Committee and secretary of Committee of Discipline of Hubei Branch of Bank of China in October 2016. He was re-designated as the head of Jiangsu Branch of the Company in July 2020, and served as the secretary of the Party Committee and general manager of Jiangsu Branch of the Company from October 2020 to July 2023.

Mr. Yuan obtained an executive master of business administration from Zhongnan University of Economics and Law in June 2009. The Board has resolved to appoint Mr. Wang Yongjie as the secretary to the Board and the joint company secretary of the Company. His term of office shall take effect from the date of approval on the relevant qualifications by the National Administration of Financial Regulation until change of appointment or dismissal made by the Board.

Since the date on which Mr. Wang Yongjie takes office, Mr. Xu Yongli will cease to concurrently serve as the secretary to the Board of the Company. Mr. Wang Yongjie, aged 43, is a certified public accountant and started his career at the Department of Finance under the Ministry of Finance in August 2004, successively served as a deputy chief staff member of the Financial Division IV, a deputy chief staff member, chief staff member and deputy director of the Government Loan Division I of the Department of Finance under the Ministry of Finance from August 2005 to February 2012; deputy director in the General Office of the Ministry of Finance from March 2012 to August 2013; deputy director and investigator of the Financial Division II, second grade investigator and first grade investigator of the Financial Property Division of the Department of Finance under the Ministry of Finance from September 2013 to July 2023. Mr. Wang obtained his master's degree of Economics from Central University of Finance and Economics in August 2004, and obtained a master of science from Alliance Manchester Business School, UK in November 2009.