The board of directors of Bank of Tianjin Co., Ltd. received a resignation letter on January 12, 2018 from Mr. Yue Desheng, an executive director and vice president of the Bank. Due to work adjustment, Mr. Yue tendered his resignation from the position of executive director of the Bank, member of the related party transactions control committee, risk management committee and consumer rights protection committee under the Board and vice president of the Bank. According to the company Law of the People's Republic of China and other relevant laws and regulations as well as the articles of associations of the Bank, the resignation of Mr. Yue takes effect on 12 January, 2018.