CSC Financial : RESIGNATION OF DIRECTOR

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

(Stock Code: 6066)

RESIGNATION OF DIRECTOR

CSC Financial Co., Ltd. (the "Company") hereby announces that Mr. Wang Bo, a non-executive director of the Company, has recently tendered his resignation as a non-executive director and member of the Risk Management Committee and Audit Committee of the board of directors of the Company due to change in work arrangements.

Pursuant to the relevant requirements of the Company Law of the People's Republic of China and the Articles of Association of CSC Financial Co., Ltd, the resignation of Mr. Wang Bo will not cause the number of members of the board of directors to be lower than the quorum. The resignation will take effect from July 29, 2020.

Mr. Wang Bo has confirmed that he has no disagreement with the board of directors of the Company and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders and creditors of the Company. His resignation will not affect the normal operation of the board of directors of the Company and the Company.

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The board of directors of the Company hereby expresses its sincere gratitude to Mr. Wang Bo for his active contribution to the development of the Company during his tenure.

By order of the Board

CSC Financial Co., Ltd.

Wang Changqing

Chairman

Beijing, the PRC, July 29, 2020

As at the date of this announcement, the executive Directors of the Company are Mr. WANG Changqing and Mr. LI Geping; the non-executive Directors of the Company are Mr. YU Zhongfu, Ms. ZHANG Qin, Ms. ZHU Jia, Mr. WANG Xiaolin, Mr. WANG Hao and Mr. XU Gang; and the independent non-executive Directors of the Company are Mr. FENG Genfu, Ms. ZHU Shengqin, Mr. DAI Deming, Mr. BAI Jianjun and Mr. LIU Qiao.

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