China Huarong Asset Management : APPOINTMENT OF MEMBER OF SPECIAL COMMITTEE OF THE BOARD

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China Huarong Asset Management Co., Ltd.

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 2799)

APPOINTMENT OF MEMBER OF

SPECIAL COMMITTEE OF THE BOARD

The board of directors (the "Board") of China Huarong Asset Management Co., Ltd. (the "Company") is pleased to announce that the Board resolved at a board meeting held on 31 August 2020 to appoint Mr. Zheng Jiangping as a member of the Risk Management Committee of the Board, the term of which shall become effective from 31 August 2020 until the election of the next session of the Board.

The biographical details and other relevant information of Mr. Zheng Jiangping have been set out in the circular of annual general meeting dated 15 May 2020 of the Company. As at the date of this announcement, there has been no change in relevant information.

By order of the Board

China Huarong Asset Management Co., Ltd.

WANG Zhanfeng

Chairman

Beijing, the PRC

31 August 2020

As at the date of this announcement, the Board comprises Mr. WANG Zhanfeng and Ms. LI Xin as executive directors of the Company; Ms. ZHAO Jiangping, Mr. ZHENG Jiangping and Mr. ZHOU Langlang as non-executive directors of the Company; Mr. TSE Hau Yin, Mr. LIU Junmin, Mr. SHAO Jingchun and Mr. ZHU Ning as independent non-executive directors of the Company.