JF Wealth Holdings has appointed ZHANG Peihong as an executive director, effective May 20, 2024. Mr. Zhang, aged 37, joined the Group in June 2020 and currently serves as a director and vice president of Shanghai Jiufangyun Intelligent Technology Co. Ltd. a wholly-owned subsidiary of the Company, where he participates in its operational decisionmaking process and is in charge of its business development and customer service.

He has over ten years of experience in business development, customer service and product investment and development. Prior to joining the Group, from June 2011 to May 2020, Mr. Zhang served in the predecessors of Yintech Investment Holdings Limited (a company whose American depositary receipts were previously listed on the NASDAQ (ticker symbol: YIN) and were delisted from the NASDAQ on November 18, 2020) and its subsidiaries (collectively, the "Yintech Group"), including as the executive director and general manager of Shanghai Jinyi Information Technology Co. Ltd. a member of Yintech Group.  Mr. Zhang obtained a bachelor's degree of economics in finance from Shanghai Lixin University of Accounting and Finance in the PRC in January 2016.

Mr. Zhang is currently studying at an Executive Finance Program (EFP) in Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University in the PRC, which is expected to be completed in July 2026, and at a joint program of Executive Master of Business Administration (EMBA) in finance by Shanghai National Accounting Institute in the PRC and Arizona State University in the United States of America, which is expected to be completed in August 2025. Mr. Zhang has completed the Dark Horse Entrepreneurship Growth training program in March 2019. He has also obtained the securities practitioner qualification from the Securities Association of China in June 2020.  Mr. Zhang has entered into an appointment letter (the "Appointment Letter") with the Company for a term of three years commencing on May 20, 2024, which will be terminated by not less than one month's prior notice in writing.

Mr. Zhang is subject to rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company. Mr. Zhang will receive no director's fee for being an executive Director under the Appointment Letter, and is entitled to an aggregate annual cash compensation of RMB 1,200,000 in relation to his other employment within the Group, which has been determined by the Board upon recommendation of the Remuneration Committee with reference to his experience and duties with the Company and prevailing market conditions.  Save as disclosed above, as at the date of this announcement, Mr. Zhang has not held any directorship in any other public listed companies in the last three years or any other positions with the Company or other members of the Group.  Save as disclosed above, as at the date of this announcement, Mr. Zhang did not have any relationship with any other Directors, senior management, substantial shareholders of the Company or controlling shareholders of the Company.