The board of Directors of Kingdee International Software Group Company Limited announced that the application for the establishment of CITIC Consumer Finance Company jointly by the company's wholly-owned subsidiary Kingdee Software (China) Co., Ltd. ("Kingdee China"), CITIC Limited ("CITIC") and CITIC Trust Co., Ltd. ("CITIC Trust") was approved by China Banking Regulatory Commission on 17 August 2018. According to the agreement entered into by Kingdee China, CITIC and CITIC Trust (collectively, the "JV Partners"),the JV Partners will jointly set up the CITIC Consumer Finance Company; Kingdee China will hold 30% of interest in the CITIC Consumer Finance Company which is in proportion to its corresponding amount of contribution of RMB 90,000,000.