The board of directors of ZhongAn Online P & C Insurance Co., Ltd. announced that Mr. Yaping Ou ("Mr. Ou") has tendered his resignation as the Chairman of the Company due to his personal work arrangements. Mr. Ou will continue to serve as a non-executive Director of the Company and retain his positions in the Board committees. The Board announced that, on July 24, 2023, the sixth extraordinary meeting of the fourth session of the Board resolved to elect Mr. Hai Yin ("Mr. Yin"), an independent non-executive Director of the Company, as the Chairman of the Company.

The appointment of Mr. Yin shall only become effective upon the approval by the National Administration of Financial Regulation, and prior to the approval of the qualification of Mr. Yin, Mr. Ou will continue to perform his duties as the Chairman in accordance with the requirements of the applicable laws, regulations and the articles of association of the Company. Hai Yin, aged 50, is an independent non-executive Director of the Company, and is the chairman of the Risk Management and Related Transaction Control Committee and a member of the Audit and Consumer Rights Protection Committee of the Company. Mr. Yin joined Group in November 2022.

Mr. Yin holds a bachelor's degree in English from Beijing Foreign Studies University and a master's degree in civil and commercial law from Peking University. Mr. Yin is currently the chief product officer of Smart Tech (Hainan) Co., Ltd. Mr. Yin was a trader in the trading department of Bank of China Head Office, a strategic analyst in the trading department of Bank of China Head Office, a head of foreign exchange trading in the Capital Market Department of Bank of China London Branch, a director of Huatai Asset Management Co., Ltd., a marketing director of Huatai Property & Casualty Insurance Co., Ltd., a general manager of Huatai Weiye Shanghai Insurance Brokerage Co., Ltd., a general manager of the Company, and the chairman of CreditEase Insurance Sales&Service (Beijing) Co., Ltd.