The board of directors of China Cinda Asset Management Co., Ltd. (the "Company") announced that a resignation letter of Mr. ZHANG Weidong, the President of the Company, was received on July 18, 2022. Due to change of work arrangement, Mr. ZHANG Weidong resigned as the President of the Company. The resignation shall become effective as of July 18, 2022.

Mr. ZHANG Weidong has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation of the President that needs to be brought to the attention of the shareholders of the Company. On June 28, 2022, the Board of the Company convened a meeting to elect Mr. ZHANG Weidong as the Chairman of the Company in accordance with the applicable laws, the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the articles of association of the Company. The appointment of Mr. ZHANG Weidong as the Chairman of the Company is subject to the approval of his qualification as the Chairman by the China Banking and Insurance Regulatory Commission (the "CBIRC").

In order to ensure the normal operation of the Board, the Board has elected Mr. ZHANG Weidong to perform the duties in place of the Chairman of the Board of Directors and the chairman of the Strategic Development Committee until his qualification as Chairman of the Board of Directors is approved by the CBIRC. The current operation of the Company sustains well. The Board will make an announcement in accordance with the applicable requirements under the Listing Rules after the appointment of a candidate for the President.