Bank of Tianjin Co., Ltd. which approved the qualification of Mr. Sun Liguo to hold office as the Chairman of the Bank. Given the above re-designation, Mr. Sun Liguo applied to resign as the President of the Bank. A meeting of board of directors (the "Board") was convened in accordance with the Guidelines on the Corporate Governance of Commercial Banks and the Articles of Association of the Bank to approve the resignation of Mr. Sun Liguo. At the same time, in order to ensure the smooth transition and orderly handover of the various tasks of the senior management of the Bank, as approved by the Board, Mr. Sun Liguo will serve as acting President before the appointment of the new President.