Ms. Zheng Shengqin ("Ms. Zheng"), an employee representative supervisor of the third session of the board of supervisors (the "Board of Supervisors") of China Huarong Asset Management Co., Ltd. (the "Company", together with its subsidiaries, the "Group"), has resigned as an employee representative supervisor of the Company due to change of her work arrangements, which shall take effect from 13 May 2021 according to relevant regulations. Ms. Zheng has confirmed that she has no disagreement with the board of directors of the Company and the Board of Supervisors and there are no other matters in relation to her resignation that needs to be brought to the attention of the shareholders of the Company, the creditors or The Stock Exchange of Hong Kong Limited. The Company held the ninth meeting of the third session of the employee representative meeting on 13 May 2021, during which Ms. Guo Jinghua ("Ms. Guo") was elected as an employee representative supervisor of the third session of the Board of Supervisors of the Company. Her term of office shall take effect from 13 May 2021 until the expiry of the term of the third session of the Board of Supervisors. She shall be eligible for re-election upon the expiry of her term of office. Ms. Guo Jinghua, aged 55, was accredited as a senior economist by the Company in October 2001. Ms. Guo worked in the Industrial and Commercial Bank of China from July 1988 to November 1999 as the head of the Corporate Management Department of the Head Office and the deputy director of the Corporate Division of the Asset Risk Management Department. Ms. Guo joined the Company in November 1999, serving successively as the deputy director and the senior manager of the Equity Management Department, the general manager assistant of the Operation Management Department, the general manager assistant and the deputy general manager of the Beijing Office, the deputy general manager of the Operation Management Department, the deputy general manager of the Business Development Department, the deputy general manager of the Risk Management Department, the deputy general manager of the Asset Management Department, the deputy general manager (in charge of work) and the general manager of the Customer Marketing Department, the director of the Listing Office, the general manager of the Business Evaluation Department, the director of the Board Office, the general manager of the Internal Control and Compliance Department, and the executive vice chairman of the Labor Union Committee from March 2021. Ms. Guo graduated with a bachelor's degree in arts and a master's degree in economics from Department of Chinese Language and Literature of Peking University and Department of Finance of Central University of Finance and Economics, respectively.