The board of directors of Hanhua Financial Holding Co., Ltd. announced that due to position reason, Mr. Wang Dayong has resigned as an executive Director, the vice chairman and a member of the strategic investment committee of the Board. Mr. Wang has tendered his resignation to the Company on 23 October 2020 with immediate effect. Mr. Wang will be hired by the Company to continue to serve as the chief economist to be responsible for the Company's inclusive finance development and research and will provide strategic consulting services to the Board. After Mr. Wang's resignation, he ceased to act as the authorized representative of the company. The company announced that Mr. Cui Weilan, an executive Director of the company, was appointed as an authorized representative of the company, effective from 23 October 2020.