The board of directors of China Huarong Asset Management Co., Ltd. announced that the twenty second meeting of the second session of the Board resolved on 27 December 2018 to appoint the secretary to the Board of the Company, to appoint the joint company secretary to the Company; and to elect the new member of the risk management committee of the Board, as follows: The Board resolved to appoint Mr. Wang Wenjie as the Secretary to the Board. His 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. Mr. Wang will perform the duties of the Secretary to the Board from 27 December 2018. Mr. Wang's remuneration during his term of office will be determined by the Board based on the remuneration policy of the company. Mr. Wang Wenjie, has been a vice president of the Company since November 2014. He was accredited as a senior economist by Industrial and Commercial Bank of China Limited in December 1994. Mr. Wang started his career in the Technological Transformation Credit Department of ICBC in July 1986, from March 1987 to December 1999, he served successively as principal staff member of the Technological Transformation Credit Department, deputy director of the Project Management Division, director of Project Management Division I and deputy general manager of the Assessment and Consultation Department of ICBC. Mr. Wang joined the Company in December 1999, serving successively as deputy general manager (in charge) and general manager of International Business Department of the Company, deputy general manager (general manager level) and general manager of Nanjing Office of the Company from June 2003 to August 2006, general manager of the Investment Business Department (International Business Department) from August 2006 to December 2009, chief investment and operation officer and general manager of the Investment Business Department of the Company International Business Department) from December 2009 to June 2010, chief investment and operation officer of the Company and general manager of Shanghai Office from June 2010 to April 2011, chief risk officer, chief investment and operation officer and general manager of the Risk Management Department from April 2011 to April 2013, and assistant to President and Secretary to the Board from September 2012 to November 2014. Mr. Wang graduated from Shaanxi College of Finance and Economics (now known as Xi'an Jiaotong University) with a master's degree of economy in industrial economy. Due to change of his work arrangement, Mr. Li Yingchun has ceased to act as a Joint Company Secretary with effect from 27 December 2018. Mr. Li has confirmed that he has no disagreement with the Board and there are no other matters related to his resignation that should be brought to the attention of the shareholders or creditors of the Company or the Stock Exchange. The Board has elected Ms. Li Xin as the member of the risk management committee of the Board. Her term as a member of the risk management committee of the Board shall become effective from 27 December 2018, and she shall hold office until the election of the next session of the Board.