Weihai City Commercial Bank Co., Ltd. announced it has considered and approved the proposed appointment of Mr. Wang Yong as an independent non-executive Director. Such appointment is subject to the approval by the Shareholders at a general meeting and the approval of the CBIRC Shandong Office for his eligibility to hold office. Mr. Wang Yong has tendered his resignation as an external Supervisor and a member of the nomination committee of the Board of Supervisors to the Board of Supervisors on 30 March 2022 due to work arrangement.

After the resignation of Mr. Wang Yong, the proportion of external supervisors of the Bank was less than one-third.