The board of directors of China Vered Financial Holding Corporation Limited announced that with effect from 15 March 2022, Mr. Li Feng has been appointed as an executive director and the deputy chief executive officer of the Company; Mr. Wen Yuanhua has been appointed as an independent non-executive director of the Company, the chairman of the remuneration committee of the Company and member of the audit committee and nomination committee of the Company; Mr. Zhang Yang has resigned as a non-executive director of the Company; and Mr. Wang Yongli has resigned as an independent non-executive director of the Company, chairman of the remuneration committee of the Company and member of the audit committee and nomination committee of the Company. Mr. Li, aged 43, has been serving as a director of Vered Holdings (Hong Kong) Limited since 2017. Mr. Wen, aged 52, has worked as the director and president of Zhongji Investment Co.

Ltd. since November 2017, and has been in charge of Zhongji's strategy, organization, business, and building of a large-scale asset allocation portfolio platform that involves equity investment, high-yield debt, non-performing assets and fixed increase business. Mr. Wen is expected to enter into an appointment letter with the Company for his role as the independent non-executive director of the Company for a term of three years with effect from 15 March 2022. As a result of Mr. Wang's resignation, Mr. Wen will be appointed as the chairman of the remuneration committee of the Company and member of the audit committee and nomination committee of the Company, with effect from 15 March 2022.

The Board announces that with effect from 15 March 2022, Mr. Zhang has resigned as a non-executive director of the Company in order to devote more time to his other personal commitments. The Board announces that with effect from 15 March 2022, Mr. Wang has resigned as an independent non-executive director, chairman of the remuneration committee and member of the nomination committee and audit committee of the Company in order to devote more time to his other personal commitments.