Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

China Huarong Asset Management Co., Ltd.

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 2799)

RESIGNATION AND ELECTION OF

EMPLOYEE REPRESENTATIVE SUPERVISOR

Ms. Zheng Shengqin ("Ms. Zheng"), an employee representative supervisor of the third session of the board of supervisors (the "Board of Supervisors") of China Huarong Asset Management Co., Ltd. (the "Company", together with its subsidiaries, the "Group"), has resigned as an employee representative supervisor of the Company due to change of her work arrangements, which shall take effect from 13 May 2021 according to relevant regulations. Ms. Zheng has confirmed that she has no disagreement with the board of directors of the Company and the Board of Supervisors and there are no other matters in relation to her resignation that needs to be brought to the attention of the shareholders of the Company, the creditors or The Stock Exchange of Hong Kong Limited.

The Company held the ninth meeting of the third session of the employee representative meeting on 13 May 2021, during which Ms. Guo Jinghua ("Ms. Guo") was elected as an employee representative supervisor of the third session of the Board of Supervisors of the Company. Her term of office shall take effect from 13 May 2021 until the expiry of the term of the third session of the Board of Supervisors. She shall be eligible for re-election upon the expiry of her term of office.

The biographical details of Ms. Guo are set out below:

Ms. Guo Jinghua, aged 55, was accredited as a senior economist by the Company in October 2001. Ms. Guo worked in the Industrial and Commercial Bank of China from July 1988 to November 1999 as the head of the Corporate Management Department of the Head Office and the deputy director of the Corporate Division of the Asset Risk Management Department. Ms. Guo joined the Company in November 1999, serving successively as the deputy director and the senior manager of the Equity Management Department, the general manager assistant of the Operation Management Department, the general manager assistant and the deputy general manager of the Beijing Office, the deputy general manager of the Operation Management Department, the deputy general manager of the Business Development Department, the deputy general manager of the Risk Management Department, the deputy general manager of the Asset Management Department, the deputy general

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manager (in charge of work) and the general manager of the Customer Marketing Department, the director of the Listing Office, the general manager of the Business Evaluation Department, the director of the Board Office, the general manager of the Internal Control and Compliance Department, and the executive vice chairman of the Labor Union Committee from March 2021. Ms. Guo graduated with a bachelor's degree in arts and a master's degree in economics from Department of Chinese Language and Literature of Peking University and Department of Finance of Central University of Finance and Economics, respectively.

Save as disclosed above, Ms. Guo has confirmed that she: (i) does not have any relationship with any of the directors, supervisors, senior management, substantial shareholders or controlling shareholder of the Company; (ii) does not have any interests in any shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); (iii) is not in possession of any information that is required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), nor is she involved or has been involved in any activity that shall be disclosed pursuant to Rule 13.51(2) (h) to Rule 13.51(2)(v) of the Listing Rules; (iv) did not hold any directorship in any other listed company or hold any other position in any member of the Group in the last three years; and (v) has no other issues that shall be brought to the attention of the shareholders of the Company.

The remuneration of employee representative supervisors shall follow the relevant regulations and the remuneration plan which will be submitted to the general meeting of shareholders of the Company for consideration and approval after being considered according to relevant procedures. The details of the remuneration of supervisors are available in the Company's annual report.

The Company would like to take this opportunity to express its gratitude and appreciation to Ms. Zheng for her valuable contribution to the Company during her term of office as the employee representative supervisor and welcome Ms. Guo to the third session of the Board of Supervisors.

By order of the Board

China Huarong Asset Management Co., Ltd.

WANG Zhanfeng

Chairman

Beijing, the PRC

13 May 2021

As at the date of this announcement, the Board comprises Mr. WANG Zhanfeng and Mr. WANG Wenjie as executive directors; Ms. ZHAO Jiangping, Mr. ZHENG Jiangping, Mr. XU Nuo and Mr. ZHOU Langlang as non-executive directors; Mr. TSE Hau Yin, Mr. SHAO Jingchun, Mr. ZHU Ning and Ms. CHEN Yuanling as independent non-executive directors.

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China Huarong Asset Management Co. Ltd. published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 12:56:46 UTC.