The board of directors of China Huarong Asset Management Co., Ltd. announced that the Board has resolved to appoint Mr. LIANG Qiang ("Mr. Liang") as the President of the Company at the Board meeting held on 29 June 2021. Mr. Liang meets the qualification requirements of senior management required by the Articles of Association of the Company and relevant laws and regulations. His of office term shall become effective from the date upon the consideration and approval by the Board until the change of appointment is made by the Board. The Board meeting of the Company has considered and approved the nomination of Mr. Liang as an executive director of the third session of the Board of the Company. His appointment shall become effective from the date upon the consideration and approval by the general meeting of the shareholders of the Company and he shall hold of ice until the election of the next session of the Board.