PICC Property and Casualty Company Limited (the "Company") in relation to, among others, the appointment of Mr. Yu Ze as the President of the Company. The Company has recently received the approval of qualification of Yu Ze of PICC Property and Casualty Company Limited (the "Approval") issued by the China Banking and Insurance Regulatory Commission (the "CBIRC"). Pursuant to the Approval, the qualification of Mr. Yu Ze as the President of the Company has been approved by the CBIRC. The term of office of Mr. Yu Ze as the President of the Company commenced on 28 June 2021.