The board of directors of China Huarong Asset Management Co., Ltd. announced that the twenty eighth meeting of the second session of the Board resolved on 2 August 2019 to appoint Ms. Yang Pei (“Ms. Yang”) as the secretary to the Board of the Company (the “Secretary to the Board”) and the joint company secretary to the Company (the “Joint Company Secretary”); and to elect Ms. Wang Cong (“Ms. Wang”) and Mr. Zhu Ning (“Mr. Zhu”) as new members of the related party transaction committee of the Board of the Company; meanwhile, the Company appointed Ms. Yang as the authorized representative of the Company (the “Authorized Representative”). Due to change of his work arrangement, Mr. Wang Wenjie (“Mr. Wang”) has ceased to act as the Secretary to the Board with effect from 2 August 2019. The Board resolved to appoint Ms. Yang as the Secretary to the Board. Her term of office shall take effect from the date of approval by the China Banking and Insurance Regulatory Commission until change of appointment is made by the Board. Ms. Yang will perform the duties of the Secretary to the Board from 2 August 2019. Ms. Yang’s remuneration during her term of office will be determined by the Board based on the remuneration policy of the Company. Ms. Yang Pei, aged 56, has been the assistant to the President of the Company since July 2019, and was appointed as the Secretary to the Board of the Company by the Board in August 2019. Due to change of his work arrangement, Mr. Wang has ceased to act as Joint Company Secretary and Authorized Representative of the Company with effect from 2 August 2019. The Board has resolved to appoint Ms. Yang as the Joint Company Secretary with effect from 2 August 2019 until change of appointment made by the Board. Meanwhile, the Company appointed Ms. Yang, the Secretary to the Board and the Joint Company Secretary, as the Authorized Representative with effect from 2 August 2019.