Jinshang Bank Co., Ltd. announced that on June 28, 2022, the Board has considered and approved the appointment of Mr. ZHANG Yunfei as the president of the Bank, which is subject to the formal approval of his qualification by the CBIRC Shanxi Office. The particulars of Mr. Zhang are set out below: Mr. ZHANG Yunfei, aged 51, has been an executive director, the vice chairman and a vice president of the Bank since August 30, 2021. Mr. Zhang has more than 25 years of experience in banking industry.

He joined the Bank in September 2009, worked at the Bank's risk management department from September 2009 to January 2014, served as the general manager of the risk management department of the Bank from May 2013 to January 2014, and served as the chief risk officer of the Bank from May 2011 to April 2021. Prior to joining the Bank, Mr. Zhang successively worked at the Taiyuan branch and Shanxi branch of Industrial and Commercial Bank of China Limited ("ICBC") (a company listed on the Shanghai Stock Exchange with stock code 601398, and on The Stock Exchange of Hong Kong Limited with stock code 1398) from September 1994 to August 2009. Mr. Zhang obtained a bachelor 's degree in international trade from Shanxi Economics Management College (currently known as Shanxi University of Finance and Economics in Shanxi Province, the PRC, in July 1994.

Mr. Zhang is a middle level economist granted by ICBC in July 1999. Mr. Zhang's term as the president of the Bank shall be effective from the date of approval by the CBIRC Shanxi Office to the date of expiration of the term of office of the fifth session of the Board, which is subject to re-appointment upon the expiry of the term. The Bank will enter into a service contract with Mr. Zhang after the approval of his appointment as the president of the Bank by the CBIRC Shanxi Office.

The remuneration of Mr. Zhang during his term of office as the president of the Bank will be determined in accordance with the Interim Measures for the Remuneration Administration of Persons in Charge of Provincial State-owned Local Financial Enterprises in Shanxi Province which is mainly comprised of base salary, performance-based remuneration, term incentive income, staff benefits, enterprise annuity, social insurance and housing provident fund contributed by the Bank.