The board of directors of Dongguan Rural Commercial Bank Co., Ltd. announced that in order to meet the regulatory requirements regarding the tenure limit of key positions in the banking industry and based on the work arrangement, Mr. Wang Yaoqiu, the chairman and executive Director of the Bank, has submitted his resignation to the Board to resign from the positions of the chairman and executive Director of the Bank and chairman of the strategic decision and sannong committee of the Board of the Bank with effect from 28 April 2023. In accordance with the relevant provisions of the Company Law of the People's Republic of China and the articles of association of the Bank, following the resignation of Mr. Wang, the Board has unanimously agreed to elect Mr. Fu Qiang, an executive Director and the president of the Bank, to perform the duties on behalf of the chairman, legal representative of the Bank and the chairman of the strategic decision and sannong committee of the Board of the Bank until the date when a new chairman is elected and the qualification of such person is approved by the regulatory authority. The Board hereby announces that the Board proposed to appoint Mr. Lu Guofeng as an executive Director of the fourth session of the Board.

The resolution in relation to the appointment of Mr. Lu as an executive director of the Bank will be submitted to the annual general meeting of the Bank to be held in May 2023 for consideration and approval. The appointment of Mr. Lu, if approved in the general meeting, will become effective upon obtaining the approval from the regulatory authority, according to the Implementation Measures of the China Banking and Insurance Regulatory Commission for the Administrative Licensing Items concerning Small and Medium-Sized Rural Banking Institutions. Further announcement will be made in due course upon the appointment taking effect.

Mr. Lu Guofeng, aged 53, a member of the Communist Party of China, holds a postgraduate degree and a master degree, being an intermediate economist, and currently served as a member and secretary of the party committee of the Bank. Mr. Lu started working since July 1991, and successively worked for China Construction Bank in different departments including administration office of Dongguan Branch, Chang'an Branch, department of marketing, department of credit operation and department of corporate business, etc. Mr. Lu served as a member of the party committee and vice president of Dongguan Branch of China Construction Bank from July 2002 to March 2005; successively served as a member of the party committee, deputy secretary of the party committee and president of Dongguan Commercial Bank Co., Ltd.# () (the predecessor of Bank of Dongguan Co., Ltd.# ()) from March 2005 to March 2008; as deputy secretary of the party committee and president of Bank of Dongguan Co., Ltd. from March 2008 to June 2014; and as secretary of the party committee and chairman of Bank of Dongguan Co., Ltd. from June 2014 to April 2023.

In addition, Mr. Lu is currently a member of the 7th Council of Dongguan Banking Association.