China Huarong Asset Management Co., Ltd. received a letter of resignation from Mr. Wang Keyue. Mr. Wang resigned as the vice chairman of the Company, non-executive director of the Company and the member of the strategy and development committee of the Board of the Company because he has reached retirement age. Pursuant to the relevant regulations, the resignation of Mr. Wang became effective on 27 October 2017. Mr. Wang has confirmed that he has no disagreement with the Board of the Company 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 of Hong Kong Limited.