ZHONGTAI FUTURES Company Limited announced the appointment of LUO Xinhua as an Independent Non-executive Director of the Company has been approved at the EGM held on May 31, 2022, which shall take effect after LUO Xinhua has passed the professional competence level assessment test for executives of futures firms and satisfied the qualifications required for acting as independent directors of futures firms issued by the China Securities Regulatory Commission. The term of office of LUO Xinhua shall commence following Obtaining the Qualifications Required for Acting as an Independent Non-executive Director until the expiry of the term of the third session of the Board, and he is eligible for re-election and re-appointment upon expiry of his term. The appointment of ZHENG Hanyin as a Non-executive Director of the Company has been approved at the EGM.

The term of office of ZHENG Hanyin shall commence from the date of the EGM, i.e. May 31, 2022, until the expiry of the term of the third session of the Board, and he is eligible for re-election and re-appointment upon expiry of his term. LIU Xinyi tendered his resignation as a Non-executive Director and members of the nomination committee and the remuneration and appraisal committee of the Company due to change of work. The resignation of LIU Xinyi takes effect from the date on which the new Non-executive Director elected at the EGM takes office, i.e. from May 31, 2022.

LIU Xinyi confirmed that he has no disagreement with the Board and there is no matter which has to be brought to the attention of the Shareholders in relation to his resignation. As disclosed above, LIU Xinyi tendered his resignation as members of the nomination committee and the remuneration and appraisal committee of the Board due to change of work. Pursuant to the resolution approved by the Board on May 31, 2022 in relation to election of the chairman and members of the special committees under the third session of the Board of the Company, the Company hereby approves the election of LUO Xinhua as the chairman of the audit committee, and members of the remuneration and appraisal committee and the nomination committee under the Board, which shall take effect following Obtaining the Qualifications Required for Acting as an Independent Non-executive Director; and the election of ZHENG Hanyin as members of the remuneration and appraisal committee and the nomination committee under the Board.

The term of office of ZHENG Hanyin shall commence from May 31, 2022 until the expiry of term of the third session of the Board of the Company; and the term of office of LUO Xinhua shall commence following Obtaining the Qualifications Required for Acting as an Independent Non-executive Director until the expiry of term of the third session of the Board.