The board of directors of China Huarong Asset Management Co., Ltd. announced that the Board resolved at the Board meeting held on 7 December 2018 to appoint Mr. Chen Yanqing as the vice president of the company. 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. Chen Yanqing, joined China Cinda Asset Management Corporation in January 2000, he successively served as the Deputy General Manager of the Asset Management Department, the General Manager of the Restructuring Business Department, the Market Development Department, the Group Synergy Department and the Corporate Management Department, the general manager of Shenzhen Branch and Shenzhen Regional Business Director, the general manager of the Human Resources Department and the Head of the Organization Department of the Party Committee. He served as assistant to president of China Cinda from February 2016.