The Board of Shanghai Dongzheng Automotive Finance Co., Ltd. announced that the 2019 Fourth EGM was held on 31 December 2019. The EGM approved the election of Mr. WONG Man Chung Francis as an independent non-executive Director. The appointment of Mr. Wong as an independent non-executive Director is subject to the approval of CBIRC. Mr. Wong's term of office shall commence from the date of approval by CBIRC. The Board announced that Mr. Lau Wai Leung Anders has tendered his resignation as independent non-executive Director with effect from 31 December 2019 due to his personal commitments, and will also cease to serve as the chairman of the audit committee, a member of remuneration and evaluation committee (the Remuneration Committee) and risk management committee of the Company. The Board announced that with effect from 31 December 2019, Ms. Liang Yanjun, an independent non-executive Director, be appointed as a member of the Remuneration Committee and the Risk Management Committee. The Board also announced that Ms. Yu Wing Sze has resigned as a joint company secretary of the Company and will cease to act as an authorized representative of the Company for accepting service of process or notice in Hong Kong under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) with effect from 31 December 2019. Following Ms. Yu's resignation, the Board announced the appointment of Mr. Chan Pak Hung as a joint company secretary and an authorized representative of the Company for accepting service of process or notice in Hong Kong under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) with effect from 31 December 2019. Mr. Chan is a member of the Hong Kong Institute of Certified Public Accountants and has over 15 years of experience in corporate finance, compliance and company secretarial fields. In connection with the change of joint company secretary of the Company, the Company has applied to, and was granted by, the Stock Exchange a waiver from strict compliance with Rules 3.28 and 8.17 of the Listing Rules for the period from the effective date of appointment of Mr. Chan as a joint company secretary to 2 April 2022 (the Waiver Period), on the condition that (i) Ms. Yao Wen (Ms. Yao, the other joint company secretary) will be assisted by Mr. Chan during the Waiver Period and the waiver will be revoked immediately if and when Mr. Chan ceases to be a joint company secretary of the Company; (ii) the Company shall notify the Stock Exchange at the end of the Waiver Period to re-visit the situation. The Stock Exchange expects that after the end of the Waiver Period, the Company will be able to demonstrate that Ms. Yao satisfies Rules 3.28 and 8.17 of the Listing Rules, having had the benefit of Mr. Chan's assistance such that a further waiver will not be necessary; and (iii) the Company will announce details of this waiver, including its reasons and conditions.