The board of directors of China Hongqiao Group Limited hereby announced that: Mr. Tu Yikai (Mr. Tu) resigned to act as a non-executive Director with effect from 11 July 2024 due to work reallocation; and Mr. Zhang Hao (Mr. Zhang) has ceased to act as an alternate Director to Mr. Tu with effect from 11 July 2024 subsequent to the resignation of Mr. Tu due to Mr. Tu's resignation. The Board is pleased to announcedthat Mr. Tian Mingming (Mr. Tian) has been appointed as a non-executive Director with effect from 11 July 2024. The biographical details of Mr. Tian are set out below pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Mr. Tian, aged 45, graduated from Central University of Finance and Economics with a bachelor's degree majoring in international finance in July 2000. He also graduated from Renmin University of China in July 2003 majoring in finance and obtained a master's degree of economics. From July 2003 to February 2011, he successively served as a secretary and a secretary (deputy division level) of the secretariat of the office of China Export & Credit Insurance Corporation.

From December 2010 to February 2011, he served as the deputy division director of the first underwriting division of the special export insurance underwriting department of China Export & Credit Insurance Corporation. From March 2011 to March 2019, he successively served as the deputy general manager, deputy general manager (presiding over the work) and the general manager of the fourth trust business department of CITIC Trust Co. Ltd. (, "CITIC Trust").

From March 2019 to March 2020, he served as the business director of CITIC Trust and general manager of the fourth trust business department of CITIC Trust. From March 2020 to January 2021, he served as the business director of CITIC Trust and the general manager of the international business department of CITIC Trust. From January 2021 to May 2024, he served as the general manager of the international business department of CITIC Trust.

Since May 2024, he has served as a member of the Party Committee and the deputy general manager of CITIC Trust. Mr. Tian has entered into an appointment agreement with the Company for a term of three years unless terminated by giving not less than one month's written notice by either party to the other. His appointment will be subject to retirement and re-election at the first annual general meeting of the Company after his appointment and will also be subject to retirement by rotation and be eligible for re-election at the annual general meeting in accordance with the Company's articles of association.

Mr. Tian will not receive any director's emoluments from the Company.