The board of directors of CMBC Capital Holdings Limited announced that Mr. Ding Zhisuo (Mr. Ding) has resigned as an executive Director and the General Manager of the Company with effect from 6 January 2023 due to internal work reallocation under the group of China Minsheng Banking Corp. Ltd. Mr. Ding has also ceased to be a member of each of the Executive Committee, Risk Management and Internal Control Committee, and Strategic Development Committee of the Company with effect from 6 January 2023. Since joining the Board in October 2017, Mr. Ding has performed his duties diligently and dedicatedly and played a vital role in the continuous development of the Group's business and corporate governance.

Mr. Li Baochen (Mr. Li) has been appointed as an executive Director and the Chairman of the Board with effect from 6 January 2023. Mr. Li has also been appointed as the Chairman of both the Executive Committee and Strategic Development Committee, and a member of the Risk Management and Internal Control Committee of the Company with effect from 6 January 2023. Mr. Li Ming (Mr. Li Ming) has been appointed as an executive Director and the General Manager of the company with effect from 6 January 2023.

Mr. Li Ming has also been appointed as a member of each of the Executive Committee, Risk Management and Internal Control Committee and Strategic Development Committee of the Company with effect from 6 January 2023. Mr. Li Baochen, aged 45, was appointed as a director of CMBC International Holdings Limited (an indirect controlling Shareholder of the Company) (CMBC International) on 30 December 2022. Mr. Li has over 18 years of experience in the financial services industry.

Prior to joining the Company, Mr. Li was an executive director and chief executive officer of China Industrial Securities International Financial Group Limited from 13 January 2020 to 6 December 2022. Mr. Li was also appointed as a director and chief executive officer of Industrial Securities (Hong Kong) Financial Holdings Limited, and a legal representative, an executive director and a general manager of Industrial Securities Consultancy Service (Shenzhen) Company Limited and director of IS (Hong Kong) Investment Limited on 31 July 2019, 19 May 2020 and 5 June 2020, respectively. Mr. Li was the product manager of personal banking of Industrial and Commercial Bank of China, Shenzhen Branch, the general manager of the market research and development department of China Lianhe Credit Rating Co.

Ltd., and the managing director, deputy general manager and general manager of the fixed income business headquarter of Industrial Securities Co. Ltd. Mr. Li obtained a master's degree in economics from Nankai University, the People's Republic of China in July 2003. Mr. Li Ming, aged 42, was appointed as the deputy general manager of CMBC International on 28 December 2022.

Mr. Li Ming has over 20 years of experience in the financial services industry. Prior to joining the Company, Mr. Li Ming has held various positions in China Minsheng Banking Corp. Ltd. (an indirect controlling Shareholder of the Company) and its Hong Kong Branch from 2006 to 2022, with his last position as the vice president (alternate chief executive officer) of the Hong Kong Branch.

Prior to that, Mr. Li Ming was a relationship manager in the Head Office Banking Operation Department (International Business Department) of China CITTC Bank. Mr. Li Ming graduated from Central University of Finance and Economics with a bachelor's degree in economic information administration and a master's degree in business administration.