Shanghai Dongzheng Automotive Finance Co., Ltd. announced reference is made to the circular dated 15 November 2019 and the poll results announcement dated 31 December 2019 of the company in relation to, among others, the proposed election of Mr. WONG Man Chung Francis as an independent non-executive Director. As disclosed in the Circular, the appointment of Mr. Wong is subject to the approval of the CBIRC. The board hereby announced that Mr. Wong is appointed as an independent non-executive Director with effect from 24 February 2020 following the receipt of the relevant approval from CBIRC. The board announced that with effect from 24 February 2020, Ms. Liang Yanjun, an independent non-executive Director, will cease to serve as a member of the remuneration and evaluation committee (Remuneration Committee) and risk management committee (Risk Management Committee) of the Board. The board also announced that with effect from 24 February 2020, Mr. Wong be appointed as the chairman of the audit committee of the Board, a member of the Remuneration Committee and the Risk Management Committee.