The Board announced that Hanhua Financial Holding Co., Ltd. (i) Mr. Zhang Guoxiang, the chairman of the company, ceased to be the president of the company with effect from 28 March 2016, but remains as the chairman of the Board and an executive Director of the company; and (ii) Mr. Cui Weilan, the executive Director and executive president of the company, has been appointed as the president of the company with effect from 28 March 2016. With the change coming into effect, Mr. Zhang will focus on the overall strategic planning, strategic positioning, strategy innovation planning and growth of the Group, whereas Mr. Cui will be responsible for, among other things, managing the overall operations of the Group and overseeing the Groups business. Mr. Cui Weilan, aged 44, has been the executive president of the company since March 2015 and has been an executive Director of the company since May 2015.

Mr. Cui joined the Group in June 2006 and served in various positions, including vice president, chief legal officer and secretary of the board of directors.