The board of directors of China Huirong Financial Holdings Limited announced that Mr. Mao Zhuchun (Mr. Maohas tendered his resignation as an executive director and the chief financial officer of the company effective from 1 January 2016 due to his other business engagements which require more of his dedications and time commitment. Mr. Mao has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the company. The Board announced that Mr. Zhang Changsong (Mr. Zhang) has been appointed as an executive director and the chief financial officer of the company with effect from 1 January 2016.

Mr. Zhang is a senior accountant recognized by the Jiangsu Provincial Department of Human Resources and Social Security and a certified internal auditor recognized by the China Institute of Internal Audit with the authorization from the Institute of Internal Auditors.