LUZHENG FUTURES : PROPOSED RE-ELECTION AND APPOINTMENT OF DIRECTORS AND SUPERVISORS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

LUZHENG FUTURES Company Limited

魯 証 期 貨 股 份 有 限 公 司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 01461)

PROPOSED RE-ELECTION AND

APPOINTMENT OF DIRECTORS AND SUPERVISORS

PROPOSED RE-ELECTION AND APPOINTMENT OF DIRECTORS

According to the requirements of the Company Law of the People's Republic of China and the Articles of Association (the "Articles of Association") of LUZHENG FUTURES Company Limited (the "Company"), the term of office of directors of the Company (the "Director(s)") for each session is three years. Upon the expiration of the term of office, a Director shall be eligible for re-election and re-appointment. Directors who are not staff representatives shall be elected and removed by shareholders at general meetings, while Directors as staff representatives shall be elected and removed through democratic means by the staff of the Company, details of which will be announced separately. On 24 October 2019, the board of Directors of the Company (the "Board") passed the resolutions for the proposed re-election and appointment of non-staff representative members of the third session of the Board which shall be subject to the approval at the forthcoming first extraordinary general meeting of the Company for the year 2019 (the "EGM"). According to the Articles of Association, the current Directors will continue to discharge their duties until the third session of the Board is elected. The Company hereby approves the nomination of Mr. Zhong Jinlong, Mr. Liu Hongsong, Mr. Hu Kainan, Mr. Ming Gang, Mr. Liu Feng, Mr. Gao Zhu, Mr. Wang Chuanshun, Mr. Li Dapeng and Mr. Zheng Jianping as candidates for Directors (the "Candidates for Directors"). Among the said candidates, Mr. Gao Zhu, Mr. Wang Chuanshun, Mr. Li Dapeng and Mr. Zheng Jianping are candidates for independent non-executive Directors. The re-election and appointment of the said non-staff representative members of the third session of the Board shall be subject to the approval of the shareholders of the Company (the "Shareholders") at the EGM.

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The Company will enter into service contracts with each of them if the Candidates for Directors are appointed as the Directors. The remuneration of each Director will be determined based on the remuneration standards considered and approved by the Company's 2015 annual general meeting. The Company will disclose the Directors' remuneration or allowances in the annual report of each year.

The term of office of each Director is three years, which shall commence upon the date of the Shareholders' approval and shall expire in three years after such re-election and appointment.

Details of the biographies of the Candidates for Directors which are required to be disclosed in accordance with Rule 13.51(2) of the Rules Governing the Listing of Securities (the "Listing Rules") on the Stock Exchange of Hong Kong Limited (the "Stock Exchange") are set out in Appendix I to this announcement.

PROPOSED RE-ELECTION AND APPOINTMENT OF SUPERVISORS

According to the requirements of the Company Law of the People's Republic of China and the Articles of Association, the term of office of supervisors of the Company (the "Supervisor(s)") for each session is three years. Upon the expiration of the term of office, a Supervisor shall be eligible for re-election and re-appointment. Supervisors who are not staff representatives shall be elected and removed by Shareholders at general meetings, while Supervisors as staff representatives shall be elected and removed through democratic means by the staff of the Company, details of which will be announced separately. On 24 October 2019, the supervisory committee of the Company (the "Supervisory Committee") passed the resolutions for the proposed re-election and appointment of non-staff representative members of the third session of the Supervisory Committee, which shall be subject to the approval at the EGM. According to the Articles of Association, the current Supervisors will continue to discharge their duties until the third session of the Supervisory Committee is elected. The Company hereby approves the nomination of Mr. Tan Shaojie, Mr. Hu Yuyue, Mr. Mu Yong and Mr. Yu Xuehui as candidates for Supervisors (the "Candidates for Supervisors"). Among the said candidates, Mr. Hu Yuyue, Mr. Mu Yong and Mr. Yu Xuehui are candidates for independent Supervisors. The re-election and appointment of the said members of the Supervisory Committee who are not staff representatives shall be subject to the approval of the Shareholders at the EGM.

The Company will enter into service contracts with each of them if the Candidates for Supervisors are appointed as the Supervisors. The remuneration of each Supervisor will be determined based on the remuneration standards considered and approved by the Company's 2015 annual general meeting. The Company will disclose the Supervisors' remuneration or allowances in the annual report of each year.

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The term of office of each Supervisor is three years, which shall commence upon the date of the Shareholders' approval and shall expire in three years after such re-election and appointment.

Details of the biographies of the Candidates for Supervisors which are required to be disclosed in accordance with Rule 13.51(2) of the Listing Rules are set out in Appendix II to this announcement.

The Company shall convene the EGM to approve the re-election and appointment of Directors and Supervisors. A circular containing, among other things, details of the biographies of the Directors and Supervisors to be re-elected and appointed will be dispatched to the Shareholders as soon as practicable.

The current non-staff representative Directors, namely Mr. Chen Fang, Mr. Yin Ge and Mr. Yu Xuehui, will retire upon the expiration of their terms of office as Directors, with effect from the date when the third session of the Board officially takes office. The above-mentioned retiring Directors have confirmed that they have no disagreement with the Board and there are no other matters relating to their retirement that need to be brought to the attention of the Shareholders or the Stock Exchange. The current non-staff representative Supervisor, namely Ms. Ding Mei, will retire upon the expiration of her term of office as Supervisor with effect from the date when the third session of the Supervisory Committee officially takes office. The above-mentioned retiring Supervisor has confirmed that she has no disagreement with the Board or the Supervisory Committee and there are no other matters relating to her retirement that need to be brought to the attention of the Shareholders or the Stock Exchange.

By order of the Board

LUZHENG FUTURES Company Limited

CHEN Fang

Chairman

Jinan, the PRC

24 October 2019

As at the date of this announcement, the Board comprises Mr. CHEN Fang and Mr. LIANG Zhongwei as executive Directors, Mr. YIN Ge, Mr. LI Chuanyong and Mr. LIU Feng as non-executive Directors, and Mr. GAO Zhu, Mr. YU Xuehui, Mr. WANG Chuanshun, and Mr. LI Dapeng as independent non-executive Directors.

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APPENDIX I - BIOGRAPHIES OF THE CANDIDATES FOR DIRECTORS

Candidates for executive Directors

Mr. ZHONG Jinlong

Mr. Zhong Jinlong ( 鐘 金 龍) (without former name), aged 54, joined the Company in September 2019. At present, he is the secretary to the party committee of the Company, the deputy general manager of Zhongtai Securities Co., Ltd. ( 中泰證券股份有限公司) ("Zhongtai Securities"), as well as a member of the Financing Business Committee under the Securities Association of China ( 中 國 證 券 業 協 會). Mr. Zhong Jinlong worked as assistant engineer and engineer at the Electric Power Test and Research Institute of Shandong Electric Power Supply Bureau ( 山 東 省 電 力 局 電 力 試 驗 研 究 所) and Shenzhen Nuclear Power Engineering Company ( 深 圳 核 電 工 程 公 司) from July 1986 to September 1993; served as the chief and director of the Administrative Office of Shandong International Trust and Investment Corporation ( 山 東 省 國際信託投資公司) from August 1995 to June 2000; served as deputy general manager and general manager and other positions in Minsheng Securities Co., Ltd. ( 民 生 證 券 股 份 有 限 公 司) (formerly known as Yellow River Securities Co., Ltd. ( 黃 河 證 券 有 限 公 司)) from June 2000 to January 2008; he held various positions, such as compliance officer and deputy general manager of Qilu Securities Co., Ltd. ( 齊 魯 證 券 有 限 公 司) from January 2008 to September 2015; served as deputy general manager of Zhongtai Securities (formerly known as Qilu Securities Co., Ltd. ( 齊 魯 證 券 有 限 公 司)) since September 2015; and the secretary to the party committee of the Company since September 2019. Mr. Zhong Jinlong graduated from Xi'an Jiaotong University with a bachelor's degree in power system and automation in July 1986; he graduated from Shanghai University of Foreign Trade (formerly known as Shanghai Institute of Foreign Trade) with a bachelor's degree in international trade in July 1995; graduated from Peking University with a master's degree in EMBA in March 2005. Mr. Zhong Jinlong was awarded the professional qualification of the engineer in August 1987.

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Candidates for non-executive Directors

Mr. LIU Hongsong

Mr. Liu Hongsong ( 劉 洪 松) (without former name), aged 47. At present, he is a member of the Brokerage Business Management Committee (the "Brokerage Management Committee") and the general manager of the brokerage business department of the Brokerage Management Committee of Zhongtai Securities. Mr. Liu Hongsong worked as an employee and deputy manager of the computer department in Jinan Sales Office of Shandong Securities Co., Ltd. ( 山 東證券有限責任公司) from July 1997 to March 2001; he served as the manager of the trading department at Jinan Management Headquarters of Shandong Securities Co., Ltd. from March 2001 to October 2001; he served as the assistant to the general manager of the brokerage business headquarters of Tiantong Securities Co., Ltd. ( 天同證券有限責任公司) from October 2001 to April 2005; he served as the general manager of Shandong Yingtian Dongli Optoelectronics Technology Co., Ltd. ( 山 東 應 天 崠 立 光 電 科 技 有 限 公 司) from May 2005 to September 2007; he served as assistant to general manager of customer relations department and customer service department of Zhongtai Securities (formerly known as Qilu Securities Co., Ltd.) from September 2007 to October 2008; he served as deputy general manager of the customer service department, E-commerce department, customer service headquarters, brokerage business headquarters, and retail business headquarters of Zhongtai Securities from October 2008 to February 2015 in succession; he has been a member of the Brokerage Management Committee of Zhongtai Securities since February 2015; he served as deputy general manager of the operations management department of the Brokerage Management Committee of Zhongtai Securities from February 2015 to August 2015; he served as the general manager of the wealth management department of the Brokerage Management Committee of Zhongtai Securities from August 2015 to May 2017; and he has served as the general manager of the brokerage business department of the Brokerage Management Committee of Zhongtai Securities since May 2017. Mr. Liu Hongsong graduated from Shandong University with a master's degree in radio electronics in July 1997.

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Mr. HU Kainan

Mr. Hu Kainan ( 胡開南) (without former name), aged 51. At present, he is the general manager of the risk management department of Zhongtai Securities. Mr. Hu Kainan worked as an employee in the computer room of Jixi Locomotive Depot of Jinan Railway Sub-bureau ( 濟南鐵 路分局濟西機務段) from July 1990 to November 1994; he served as the assistant to manager of Shenzhen Hongli Road Sales Office of Tiantong Securities Co., Ltd. ( 天同證券有限責任公

司) from November 1994 to November 1997; he worked as an employee in the supervision and inspection department of Tiantong Securities Co., Ltd. from November 1997 to January 2007; he served as senior business manager of the compliance management headquarters and risk control department of Zhongtai Securities (formerly known as Qilu Securities Co., Ltd.), from January 2007 to July 2010; he served as assistant to general manager of risk management department and risk compliance headquarters of Zhongtai Securities from July 2010 to November 2013; he served as the deputy general manager of risk compliance headquarters of Zhongtai Securities from November 2013 to July 2016; he served as the deputy general manager of the risk management department of Zhongtai Securities from July 2016 to October 2019; he became general manager of the risk management department of Zhongtai Securities since October 2019. Mr. Hu Kainan graduated from Shanghai Railway College with a bachelor's degree in computer software in July 1990.

Mr. MING Gang

Mr. Ming Gang ( 明鋼) (without former name), aged 42. At present, he is general manager of the Supply and Marketing Company of Yongfeng Group Co., Ltd. ( 永 鋒 集 團 有 限 公 司). Mr. Ming Gang has held various positions in Yongfeng Group Co., Ltd. from August 2008 to December 2018, including general manager of Shandong Yongfeng International Trading Co., Ltd., deputy general manager of the marketing company and the head of the trade department; he became general manager of Supply and Marketing Company of Yongfeng Group Co., Ltd. since December 2018. Mr. Ming Gang graduated from Party School of the CPC Shandong Provincial Committee in December 2001, majoring in economic management.

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Mr. LIU Feng

Mr. Liu Feng ( 劉峰) (with a former name of Liu Feng ( 劉鋒)), aged 46, joined the Company in February 2015. At present, he is a non-executive Director of the Company, as well as the general manager and director of Lukang Investment Co., Ltd ( 魯 康 投 資 有 限 公 司) and a non-executive director of Zhongtong Bus Holding Co., Ltd. ( 中 通 客 車 控 股 股 份 有 限 公

司). Mr. Liu Feng served as an office staff member of the silk worm cocoon division and the

deputy director member of trading and development department of Shandong Silk Corporation ( 山東省絲綢總公司) from July 1994 to June 2002; served as the manager of comprehensive administration department of Shandong Hengrun Silk Co., Ltd. ( 山 東 恒 潤 絲 綢 有 限 公 司)

from July 2004 to January 2005; served as a principal staff member in the silk worm cocoon unit of Qingdao Hairun Investment Group ( 青島海潤投資集團) from January 2005 to December

2005; served as the secretary and principal staff member of comprehensive administration office of Shandong Silk Group ( 山 東 省 絲 綢 集 團 有 限 公 司) from January 2006 to June 2009; served in several positions in Shandong State-owned Assets Investment Holdings Co., Ltd. ( 山 東 省 國 有 資 產 投 資 控 股 有 限 公 司) in succession from June 2009 to May 2017 such as the clerical director of comprehensive department, the director of equity operation of capital operation department and the senior business manager and deputy director of capital operation

department as well as the deputy general manager of the capital operation center; he served as the general manager and director of Shandong Juneng Investment Co., Ltd ( 山東省巨能投資有限 公司) from September 2014 to April 2016; served as a non-executive Director of the Company since February 2015, and he was appointed as the deputy head of the People's Government of

Shanting District, Zaozhuang City from July 2015 to July 2016; served as general manager and director of Lukang Investment Co., Ltd. ( 魯 康 投 資 有 限 公 司) since May 2017. He became a non-executive director of Zhongtong Bus Holding Co., Ltd. since December 2016. Mr. Liu Feng graduated from Shandong Agricultural University, majoring in sericultural science and obtained a bachelor degree in July 1994; graduated from Renmin University of China majoring in business administration and obtained a master degree in July 2004; and graduated from Shandong Agricultural University majoring in the management of agricultural economy and obtained a doctoral degree in June 2011. Mr. Liu Feng obtained the qualification of agronomist issued by the Intermediate Review Commission of Professional Titles in Agriculture of Shandong Silk Corporation in October 1999.

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Candidates for independent non-executive Directors

Mr. GAO Zhu

Mr. Gao Zhu ( 高竹) (without former name), aged 56, joined the Company in December 2012. At present, he is an independent non-executive Director of the Company as well as the deputy chairman of UOB Investment (China) Limited ( 大 華 大 陸 投 資 有 限 公 司). Mr. Gao Zhu served as the deputy general manager of Minmetals Investment & Development Co., Ltd. ( 五 礦投資發展有限公司) from June 2002 to October 2010; served as the chairman of the board of directors of Minmetals Haiqin Futures Co., Ltd. ( 五礦海勤期貨有限公司) from August 2003 to November 2010; served as deputy chairman of the board of directors of Minmetals Star Futures Brokerage Co., Ltd. ( 五礦實達期貨經紀有限責任公司) from August 2003 to November 2010; served as the general manager and the deputy chairman of the board of directors of Minmetals Securities Co., Ltd. ( 五礦證券有限公司) from September 2010 to November 2011; served as the president of UOB Investment (China) Limited from November 2011 to April 2016; served as an independent director of AVIC Futures Co., Ltd. ( 中航期貨有限公司) from December 2014 to October 2018; served as independent non-executive Director of the Company since December 2012; and served as the deputy chairman of UOB Investment (China) Limited since April 2016. Mr. Gao Zhu graduated from University of Science and Technology Beijing majoring in industrial management engineering and obtained his highest degree - a master degree in July 1988. Mr. Gao Zhu obtained the qualification of senior international business executive issued by the Occupation Qualification Review Committee for Senior International Business Expertise under the Ministry of Foreign Trade and Economic Cooperation of the PRC in March 1999.

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Mr. WANG Chuanshun

Mr. Wang Chuanshun ( 王傳順) (without former name), aged 53, joined the Company in December 2012. At present, he is an independent non-executive Director of the Company, and the director of Shandong Branch of Ruihua Certified Public Accountants ( 瑞 華 會 計 師 事 務 所 山 東 分

所), independent director of Shandong Aofu Environmental Protection Technology Co., Ltd. ( 山 東 奧 福 環 保 科 技 股 份 有 限 公 司), independent director of Qingdao iTechene Technologies Co., Ltd. ( 青 島 乾 程 科 技 股 份 有 限 公 司), independent director of Shandong Taihe Water Treatment Technologies Co., Ltd. ( 山東泰和水處理科技股份有限公司) and independent non-executive director of Huadian Power International Corporation Limited ( 華 電 國 際 電 力 股份有限公司). Mr. Wang Chuanshun served as a division member in Shandong Audit Office

from July 1990 to November 1994; served as deputy director of audit department of Shandong Accounting Firm ( 山 東 會 計 師 事 務 所) from November 1994 to December 1998; served as

deputy general manager and senior accountant in Shandong Zhengyuan Hexin Accounting Firm ( 山 東 正 源 和 信 會 計 師 事 務 所) from January 1999 to December 2004; served as director of Shandong Branch of Ruihua Certified Public Accountants since January 2005; and served as an independent non-executive Director of the Company since December 2012; served as an independent director of Shandong Aofu Environmental Protection Technology Co., Ltd. since March 2015; served as an independent director of Qingdao iTechene Technologies Co., Ltd. since March 2015; served as an independent director of Shandong Taihe Water Treatment Technologies Co., Ltd. since June 2015; and served as an independent non-executive director of Huadian Power International Corporation Limited (a company listed on the Stock Exchange, stock code: 1071) since June 2016. Mr. Wang Chuanshun graduated from Shandong Agricultural University majoring in management of agricultural economy and obtained a bachelor degree in July 1987; graduated from Southwest Agricultural University and obtained a master degree in July 1990, with research orientation of accounting and audit. Mr. Wang Chuanshun obtained the qualification of senior accountant issued by the Department of Personnel of Shandong Province in November 1997, and obtained the qualification of certified public accountant issued by the Institute of Certified Public Accountants of Shandong Province in June 2000.

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Mr. LI Dapeng

Mr. Li Dapeng ( 李 大 鵬) (without former name), aged 61, joined the Company in June 2016. At present, he is an independent non-executive Director of the Company, the chief executive officer of Qingdao United Credit Asset Trading Center ( 青島聯合信用資產交易中心) and an independent non-executive director of China Energine International (Holdings) Limited ( 中 國 航 天 萬 源 國 際（集 團）有 限 公 司). Mr. Li Dapeng served as a part-time professor in the University of Cincinnati and the Ohio State University from September 1990 to August 2001; and served as the technical advisor of Anthem Blue Cross and Blue Shield Insurance Company in the United States of America from January 1998 to August 2001; served as the chief architect of New York Mercantile Exchange from August 2001 to August 2003; served as an expert of Committee of Formulation of Capital Market Standards and the associate director of STEP working group of CSRC participating in the formulation of information technology standards of the capital market in the CSRC from September 2003 to March 2008; and served as the chief information officer and the chairman of Technology Management Committee of Shanghai Futures Exchange from September 2003 to March 2010; joined the formulation of the 12th Five-Year Plan of CSRC and directly involved in the drafting of its section headed "Internationalization" from September 2010 to February 2011; served as the senior advisor to chief executive officer of Hong Kong Exchanges and Clearing Limited from March 2010 to June 2015; served as the chief information officer of Haier Finance Holdings (Qingdao) Company Limited ( 海 爾 金 融 控 股 （青島）有限公司) from July 2015 to February 2018; served as an independent non-executive director of China Energine International (Holdings) Limited (listed on the Stock Exchange, stock code: 01185) since November 2015; he has served as chief executive officer of Qingdao United Credit Asset Trading Center since February 2018. Mr. Li Dapeng graduated from University of Science and Technology Beijing (formerly known as Beijing Steel Institute) with a bachelor degree in computer engineering in February 1982 and a master degree in computer engineering in June 1986, and graduated from the University of Cincinnati with a doctoral degree in computer engineering in December 1991 specializing in the theory of computing models of neural networks and the implementation of pattern recognition in the field of artificial intelligence.

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Mr. ZHENG Jianping

Mr. Zheng Jianping ( 鄭 堅 平) (without former name), aged 56, is a director, executive vice president, managing director and head of Investment Bank Department of Huizhi International Capital Holdings Co., Limited ( 匯智國際金融控股有限公司). He had worked at London, Singapore, Beijing and Hong Kong as the executive officer of Rothschild, and a director of Rothschild China and Rothschild Hong Kong Limited from September 1994 to May 2002; served as executive director of ICEA ( 工商東亞有限公司) from June 2002 to August 2003; he held various positions at Investment Banking division of HSBC ( 滙 豐 銀 行), such as executive director, managing director, head of Resources and Energy Group for Asia Pacific from September 2004 to September 2008; he worked as a partner, senior managing director, head of Greater China Advisory of the Blackstone Group from October 2008 to April 2011; served as managing director, head of China M&A, Investment Banking Division of Citigroup Group from July 2011 to April 2015; he had served as a director, executive vice president, managing director and head of the Investment Bank Department of Huizhi International Capital Holdings Co., Limited since October 2015. Mr. Zheng Jianping graduated from Shanghai Jiao Tong University with a bachelor's degree in computer science in July 1985; he graduated from Shanghai Jiao Tong University with a master's degree in computer science in January 1988.

Save as disclosed in this announcement, each of the Candidates for Directors has confirmed that he: (1) has not held any directorships in any listed companies, or held any other major appointments and professional qualifications in the past three years; (2) does not hold any position in the Company and its subsidiaries; (3) has no relationship with any Director, Supervisor, senior management, substantial Shareholder or controlling Shareholder of the Company; (4) has no interest in any share of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as of the date of this announcement; and (5) there is no information which is discloseable pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, nor is there any other matter concerning his appointment that needs to be brought to the attention of the Shareholders.

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APPENDIX II - BIOGRAPHIES OF THE CANDIDATES FOR SUPERVISORS

Candidates for Supervisors

Mr. TAN Shaojie
Mr. Tan Shaojie ( 譚	少	傑) (without former name), aged 41. At present, he is the head of

the Comprehensive Management Office of Jinan Energy Investment Co., Ltd. ( 濟 南 市 能 源 投 資 有 限 責 任 公 司), and the executive director (legal representative) of Jinan Chanfa Industrial Co., Ltd. ( 濟南產發實業有限公司). Mr. Tan Shaojie was a trainee at Jinan Energy Investment Co., Ltd. from July 2005 to July 2006; served as an assistant economist at Jinan Energy Investment Co., Ltd. from July 2006 to May 2012; served as an intermediate economist at Jinan Energy Investment Co., Ltd. from May 2012 to September 2017; served as a third-level clerk of the Human Resources Department of Jinan Industrial Development Investment Group Co., Ltd. from September 2016 to November 2016; served as head of the Planning and Finance Department of Jinan Energy Investment Co., Ltd. from September 2017 to December 2017; he has been the head of the Comprehensive Management Office of Jinan Energy Investment Co., Ltd. since December 2017; and started to serve as executive director (legal representative) of Jinan Chanfa Industrial Co., Ltd. in April 2019. Mr. Tan Shaojie graduated from Shandong University of Economics (currently known as Shandong University of Finance and Economics) with a bachelor's degree in information management and information system in July 2005. He graduated from Shandong University of Finance (currently known as Shandong University of Finance and Economics) with a master's degree in business administration in June 2009. Mr. Tan Shaojie obtained the qualification of intermediate economist issued by the Human Resources and Social Security Department of Shandong Province in November 2010.

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Candidates for independent Supervisors

Mr. HU Yuyue

Mr. Hu Yuyue ( 胡 俞 越) (without former name), aged 58, joined the Company in June 2015. At present, he is an independent Supervisor of the Company, and he is also the consultant to the drafting group of Futures Law in the National People's Congress, the director of institute of securities and futures of Beijing Technology and Business University, a part-time professor of China Agricultural University, Central South University and Qingdao University, a standing director of the Capital Enterprise Reform and Development Society, the director of the Beijing University for Business Administration, a member of the Advisory Committee of Zhengzhou Commodity Exchange, a member of the Product Committee of Shanghai Futures Exchange, member of Exchange Advisory Committee and deputy director of the Expert Committee of the Research Institute of Dalian Commodity Exchange, a consulting expert of Shanghai Stock Exchange, deputy director of the Financial Work Committee of China Market Society, deputy director of Expert Committee of CFLP Bulk Commodity Market and an independent director of six companies (please see below for details of these companies). Mr. Hu Yuyue served in several positions in succession in the department of economics of Beijing College of Commerce from August 1983 to April 1999, including teaching assistant, lecturer, associate professor and the director of the teaching and research office of trade and economics; served as a professor of the school of economics and the director of securities and futures institute in Beijing Technology and Business University since May 1999; served as an independent director of Minmetals & Jingyi Futures Co., Ltd. ( 五礦經易期貨有限公司) since April 2006; served as an independent director of Shanghai Ganglian Ecommerce Holdings Co., Ltd. ( 上 海 鋼 聯 電 子 商 務 股 份 有 限公司) (listed on Shenzhen Stock Exchange; stock code: 300226) since May 2014; served as an independent director of Shanxi Zhangze Electric Power Co., Ltd ( 山 西 漳 澤 電 力 股 份 有 限 公 司) (listed on Shenzhen Stock Exchange; stock code: 000767) since May 2016; served as an independent director of Zhejiang Juhua Co., Ltd ( 浙江巨化股份有限公司) (listed on Shanghai Stock Exchange; stock code: 600160) since November 2016; served as an independent director of Beijing Urban Construction Investment & Development Co., Ltd. ( 北京城建投資發

展股份有限公司) (listed on Shanghai Stock Exchange; stock code: 600266) since July 2018; he served as an independent director of ADDSINO Co., Ltd. (航天工業發展股份有限公司). (a

company listed on Shenzhen Stock Exchange, stock code: 000547) since May 2019; and served as Supervisor of the Company since June 2015. Mr. Hu Yuyue was granted by the Ministry of Education of the PRC the "Research Achievement Award of the Second National Regular Institutions of Higher Learning in Social Science" in December 1998; rewarded as "Excellent Young Elite Teacher in Beijing" by Beijing Municipal Education Commission in 1998; selected to the "Hundred Theoretical Talents Plan for the New Century in Beijing" by the Propaganda Department of Beijing Committee of the Communist Party of China in 2001; and was entitled

by Beijing Federation of Trade Unions "Hu Yuyue Securities and Futures Research Team - Municipal Staff Innovation Studio" ( 胡俞越證券期貨研究團隊－市級職工創新工作室)

in 2011. Mr. Hu Yuyue graduated from Nanjing University majoring in history and obtained a bachelor degree in July 1983. Mr. Hu Yuyue was granted the title of professor by Beijing High Professional Technical Title Review Committee in September 1999.

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Mr. MU Yong

Mr. Mu Yong ( 牟 勇) (without former name), aged 43, joined the Company in June 2015. At present, he is an independent Supervisor of the Company, as well as the deputy general manager of Beijing Goldstone Agri-Investment Funds Management Center ( 北京金石農業產業投資基 金管理中心), the managing director of Beijing Liuhe Fund Management Co., Ltd. ( 北京六合 基金管理有限公司), the representative of the Beijing Fruit Industry Development Fund ( 北 京市果樹產業發展基金) and the representative of the Beijing Foreign Economic and Trade Development Guidance Fund ( 北京外經貿發展引導基金). Mr. Mu Yong served as a staff member in Sichuan Branch of King & Wood Mallesons ( 金杜律師事務所) from February 2000 to August 2000; served as a legal consultant of Beijing Capital Management Company Limited (北 京首創資產管理有限公司) from July 2003 to March 2005; served in succession as level-4 assistant, level-3 assistant, principal staff member and deputy director of the CSRC from March 2005 to May 2013; served as the general manager of Shanxi Dianshi Equity Investment Co., Ltd. ( 山西典石股權投資管理有限公司) from June 2013 to December 2014; served as the deputy general manager of Beijing Goldstone Agri-Investment Funds Management Center since January 2014; served as an independent Supervisor of the Company since June 2015; served as the managing director of Beijing Liuhe Fund Management Co., Ltd. ( 北京六合基金管理有 限 公 司) since June 2015, the representative of the Beijing Fruit Industry Development Fund ( 北京市果樹產業發展基金) since March 2016 and the representative of the Beijing Foreign Economic and Trade Development Guidance Fund ( 北京外經貿發展引導基金) since April 2016. Mr. Mu Yong graduated from Dalian Maritime University majoring in foreign trade transportation and obtained a bachelor degree in 1999; graduated from Renmin University of China majoring in Civil Law and Commercial Law, and obtained a master degree in July 2003.

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Mr. YU Xuehui

Mr. Yu Xuehui ( 于學會) (without former name), aged 53, joined the Company in January 2008. At present, he is an independent non-executive Director of the Company as well as a partner of Beijing Zhongtian Law Firm ( 北 京 市 眾 天 律 師 事 務 所), an independent director of Cinda Futures Co., Ltd. ( 信達期貨有限公司) and an independent director of Minsheng Royal Fund Management Co., Ltd ( 民生加銀基金管理有限公司). Mr. Yu Xuehui served in succession as the broker and deputy manager of the trading department of China International Futures Co., Ltd. ( 中國國際期貨經紀有限公司) from March 1993 to October 1997; served as a partner of Beijing Hanhua Law Firm ( 北 京 市 漢 華 律 師 事 務 所) from November 1997 to October 2005; served as a partner of Beijing Besthold Law Firm ( 北京市必浩得律師事務所) from November 2005 to April 2007; served as a partner of Beijing Zhongtian Law Firm ( 北京市眾天 律師事務所) since May 2007; served as an independent non-executive Director of the Company since January 2008; served as an independent director of Cinda Futures Co., Ltd. ( 信 達 期 貨 有限公司) since March 2008; and served as an independent director of Minsheng Royal Fund Management Co., Ltd. since August 2012. Mr. Yu Xuehui graduated from Peking University majoring in economic law and obtained a bachelor degree in July 1988. Mr. Yu Xuehui was granted the qualification of lawyer by Beijing Municipal Bureau of Justice in June 1993.

Save as disclosed in this announcement, each of the Candidates for Supervisors has confirmed that he: (1) has not held any directorships in any listed companies, or held any other major appointments and professional qualifications in the past three years; (2) does not hold any position in the Company and its subsidiaries; (3) has no relationship with any Director, Supervisor, senior management, substantial Shareholder or controlling Shareholder of the Company; (4) has no interest in any share of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as of the date of this announcement; and (5) there is no information which is discloseable pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, nor is there any other matter concerning his appointment that needs to be brought to the attention of the Shareholders.

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