China Huirong Financial : ANNOUNCEMENT - RETIREMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND PROPOSED APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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CHINA HUIRONG FINANCIAL HOLDINGS LIMITED

中 國 匯 融 金 融 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1290)

ANNOUNCEMENT

RETIREMENT OF INDEPENDENT NON-EXECUTIVE

DIRECTOR AND PROPOSED APPOINTMENT OF

INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board announces that Mr. Zhang Huaqiao, an independent non-executive director of the Company, will retire from the conclusion of the 2021 AGM.

The Board proposes the appointment of Mr. Liang Jianhong as an independent non-executive director of the Company.

The above proposed appointment of an independent non-executive director is subject to the approval of the shareholders of the Company by way of ordinary resolution at the 2021 AGM.

RETIREMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the ''Board'') of China Huirong Financial Holdings Limited (the ''Company'') announces that Mr. Zhang Huaqiao (''Mr. Zhang''), an independent non-executive director of the Company, will retire from the conclusion of the 2021 annual general meeting of the Company (the

''2021 AGM'').

Mr. Zhang has informed the Board that since he wishes to devote more time to other business endeavours, he will not offer himself for re-election and will accordingly retire from the conclusion of the 2021 AGM.

After his retirement, Mr. Zhang will no longer serve as the chairman of the Company's remuneration committee (the ''Remuneration Committee'') and a member of the Company's nomination committee

(the ''Nomination Committee'').

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Mr. Zhang has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company (''Shareholders'') with regard to his retirement.

PROPOSED APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board proposes the appointment of Mr. Liang Jianhong (''Mr. Liang'') as an independent non- executive director of the Company to fill in the vacancy to be left open following Mr. Zhang's retirement.

The above proposed appointment of independent non-executive director is subject to the approval of the Shareholders by way of ordinary resolution at the 2021 AGM. Subject to Shareholders' approval at the 2021 AGM with regards to the above nomination, Mr. Liang's term of office will be three years, and he will serve as the chairman of the Remuneration Committee and a member of the Nomination Committee.

The details required to be included in this announcement pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') are set out below:

Mr. Liang Jianhong (梁劍虹), aged 44. Mr. Liang obtained a bachelor's degree in Engineering from Zhejiang University in June 1997 and a master's degree in Economics from East China Normal University in Shanghai in June 2001. Mr. Liang was employed at the investment banking department of BOCI Securities Limited from July 2001 to August 2004, and worked in the investment banking department of UBS AG Hong Kong Branch from August 2004 to April 2006. From April 2006 to March 2013, Mr. Liang served as an executive director in the China investment banking department of J.P. Morgan Securities (Asia Pacific) Limited. From January 2014 to April 2019, Mr. Liang worked at China Securities (International) Finance Holding Company Limited, successively serving as the co-head of the investment banking department and a director of China Securities (International) Corporate Finance Company Limited. In April 2019, Mr. Liang founded Future Finance Limited (未來金融有限公 司) and has since served as its chief operating officer.

To the best knowledge of the Board, (i) Mr. Liang has not held any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas during the last three years, and (ii) Mr. Liang does not have any relationship with any director, senior management or substantial or controlling shareholder of the Company.

As of the date of this announcement, Mr. Liang does not have, and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Law of Hong Kong).

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Subject to Shareholders' approval at the 2021 AGM, Mr. Liang will enter into a letter of appointment with the Company for a term of three years, which may be terminated by not less than two calendar months' notice in writing served by either party on the other, effective from the date of conclusion of the 2021 AGM. Accordingly, his term of office will expire at the date of conclusion of the 2024 annual general meeting, subject to re-election. Mr. Liang's appointment is subject to the provisions of reelection and rotation of directors under the Company's articles of association.

Mr. Liang will receive a basic emolument of HK$330,000 per annum for his directorship in the Company. The director's emoluments are recommended by the Remuneration Committee with reference to salaries paid by comparable companies, his time commitment and responsibilities, the performance of the Company and its subsidiaries, and determined based on the remuneration and compensation packages of the directors and senior management of the Company.

Mr. Liang has confirmed that he meets the independence guidelines set out in Rule 3.13 of the Listing Rules. Save as disclosed above, as far as the Board is aware, there is no other information in relation to Mr. Liang that needs to be disclosed in accordance with Rule 13.51(2) of the Listing Rules, and there are no other matters that need to be brought to the attention of the shareholders of the Company.

By order of the Board

China Huirong Financial Holdings Limited

Wu Min

Chairman

Hong Kong, 26 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Wu Min and Mr. Zhang Changsong, the non-executive directors of the Company are Mr. Zhuo You, Mr. Zhang Cheng, Mr. Ling Xiaoming and Ms. Zhang Shu and the independent non-executive directors of the Company are Mr. Zhang Huaqiao, Mr. Feng Ke and Mr. Tse Yat Hong.

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