The board of directors of Shenwan Hongyuan Group Co., Ltd. received the written resignation tendered by Ms. Ge Rongrong, a non-executive director of the Company on December 26, 2022. Due to work arrangement, Ms. Ge Rongrong applied to resign as a non-executive director of the fifth session of the Board, the chairlady of the Risk Control Committee of the Board and a member of the Strategy Committee of the Board of the Company. According to the relevant requirements of the Company Law of the People's Republic of China and the Articles of Association of the Company, the resignation of Ms. Ge Rongrong will not result in the number of Board members falling below the statutory minimum quorum, and will not affect the normal operations of the Board.

Her resignation took effect when her written resignation was delivered to the Board on December 26, 2022. Due to the resignation of Ms. Ge Rongrong, there will be a vacancy of the chairman of the Risk Control Committee of the Board of the Company, the Company will identify a suitable candidate to fill the vacancy as soon as possible. After the resignation, Ms. Ge Rongrong will no longer hold any position in the Company.