Jinshang Bank Co., Ltd. announced that Mr. Li Weiqiang has resigned as the secretary of the Board and the joint company secretary of the Bank due to his work arrangements on August 29, 2023. The company also announced that Mr. Li Yanbin, a vice president of the Bank, has been appointed as the secretary of the Board and the joint company secretary of the Bank on August 29, 2023. His appointment as the Joint Company Secretary takes effect from August 29, 2023.

His qualification as the secretary of the Board is subject to the approval by the State Administration of Financial Supervision Shanxi Bureau and his term of office will commence from the date of such approval. Until the qualification of Mr. Li as the secretary of the Board is approved, Mr. Li Weiqiang will temporarily perform the obligations of the secretary of the Board. Since Mr. Li does not currently possess the qualifications or relevant experience required under Rule 3.28 and Rule 8.17 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Bank made an application with the Stock Exchange in relation to the appointment of Mr. Li as the Joint Company Secretary of the Bank and the Stock Exchange has granted a waiver to the Bank from strict compliance with the requirements under Rule 3.28 and Rule 8.17 of the Listing Rules for a period of three years from the date of his appointment as the Joint Company Secretary, on the conditions that: Mr. Li must be assisted by Mr. Wong Wai Chiu, another joint company secretary of the Bank, who meets the qualification requirements under Rule 3.28 of the Listing Rules throughout the Waiver Period; and the Waiver could be revoked if there are material breaches of the Listing Rules by the Bank.

The Bank shall notify the Stock Exchange before the end of the Waiver Period for the Stock Exchange to re-visit the situation, with the expectation that the Bank will be able to demonstrate that Mr. Li has attained the relevant experience and is capable of discharging the functions of company secretary under Rule 3.28 of the Listing Rules, having had the benefit of Mr. Wong's assistance such that a further waiver will not be necessary. Mr. Li Yanbin, a vice president of the Bank, has more than 20 years of experience in economic management. Mr. Li joined the Bank in December 2021 and has been the general manager of the asset custody department of the Bank since January 2022 and a vice president of the Bank since June 2022.

He served as the general manager of the investment banking department of the Bank from January 2022 to March 2023. Prior to joining the Bank, he worked at Huayuan Landport Capital Operation Co., Ltd. as the deputy head of the preparatory office from December 2020 to January 2021, and the director, vice chairman and general manager from January 2021 to July 2021 and the deputy secretary of the Party committee, vice chairman and general manager from July 2021 to December 2021. He also worked at Huayuan International Land Port Group Co., Ltd. as the head of the capital operation department and Secretary of the Youth League Committee from April 2020 to October 2020, the head of the asset management center from October 2020 to December 2021 and the head of the financial management department from January 2021 to December 2021.

Mr. Li worked as a director of Shanxi Enterprise Re Guarantee Co., Ltd. from September 2013 to December 2021 and also worked as the chairman of the board of supervisors of Jinyulu Railway Transport Co., Ltd. from October 2019 to December 2021. He joined Shanxi Energy Transportation Investment Co., Ltd. in September 2010 and worked as the deputy head of the capital operation department from February 2013 to June 2016 (presiding over the work of the capital operation department from August 2015 to June 2016) and the head of the capital operation department and Secretary of the Youth League Committee from June 2016 to April 2020. Mr. Li worked at Bank of Communications Co., Ltd. (a company listed on the Stock Exchange with stock code: 3328 and listed on the Shanghai Stock Exchange with stock code: 601328) as the accountant of Shangguanxiang Savings Office of Taiyuan Branch from August 2002 to December 2002, the accountant of the business department of Taiyuan Branch from December 2002 to March 2003, the general secretary of the office of Taiyuan Branch from March 2003 to November 2005, the customer manager of Taiyuan Xinjian South Road sub-branch from November 2005 to January 2006, the customer manager of Taiyuan 51 Road sub-branch from January 2006 to June 2009, the customer manager of the major customer department of Shanxi Branch from June 2009 to August 2010 and the chief of the credit section of the major customer department of Shanxi Branch from August 2010 to September 2010.

Mr. Li obtained a bachelor's degree in economics and management from Shanxi University of Finance and Economics in Shanxi, the PRC in July 2002. Mr. Li obtained amaster's degree in economics from Shanxi University of Finance and Economics in June 2008. Mr. Li was qualified as senior economist in August 2019.

Mr. Wong Wai Chiu, an associate director of SWCS Corporate Services Group (Hong Kong) Limited, has extensive compliance and listed corporate secretarial experience including acting as the company secretary, information technology senior management and senior law enforcement officer in the areas of regulatory compliance and enforcement, internal control, corporate governance, company secretarial work, trust, financial crime investigation and forensics accounting in insurer, the Independent Commission Against Corruption and the Stock Exchange. Mr. Wong is a fellow of The Hong Kong Institute of Chartered Secretaries, a fellow of the Chartered Governance Institute, a member of CPA Australia and a certified trust practitioner of the Hong Kong Trustees' Association. Mr. Wong possesses a degree of Bachelor of Social Sciences granted by The University of Hong Kong, a Postgraduate Diploma in English and Hong Kong Law (Common Professional Examination) from the Manchester Metropolitan University, a Master of Arts in Arbitration and Dispute Resolution degree from City University of Hong Kong and a Master of Applied Science degree from the University of Technology, Sydney.