The board of directors of Huarong International Financial Holdings Limited announced that due to work arrangement, Dr. Niu Shaofeng has tendered his resignation as an executive Director and the Deputy Chief Executive Officer of the company with effect from 16 November 2018. Dr. Niu has ceased to be an authorized representative of the company under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange and a member of each of the executive committee and the risk management committee of the company. Mr. Bai Junjie, an executive Director and the Chairman of the company, has been appointed as a member of the risk management committee of the company. Mr. Xu Yong, an executive Director and the Chief Executive Officer of the company, has been appointed as an Authorized Representative of the company.