Reference is made to the announcement of China Huirong Financial Holdings Limited (the 'Company') dated 24 May 2023 in relation to the formation of a joint venture conducting financial leasing business. Unless otherwise stated, terms defined in the Announcement shall have the same meanings when used herein. The Company would like to provide the shareholders and potential investors of the Company with additional information of the JV Parties.

Shengzhuang Food is directly owned by Mr. Zhuang Wei (Zhuang Wei Xian Sheng) and Ms. Xu Junfang (Xu Jun Fang Nu Shi) as to 70% and 30%, respectively. Each of Mr. Zhuang Wei Xian Sheng") and Ms.Xu Jun Fang Nu Shi") as to 70% and 30%. Each of Mr. Zhuangi (Zhuangi Xian Sheng) and Ms. Xu Junfang (Xu Jun Fang Nu Shi) is an entrepreneur and is principally engaged in food and beverages business and other investments in the PRC.

Tianyi Knitwear is a company established under the laws of the PRC with limited liability and is principally engaged in the research, development, production and sales of intimate clothing.