The board of directors (the "Board") of Shengjing Bank Co., Ltd. (the "Bank") announced that Mr. XIAO Ruiyan ("Mr. XIAO") has resigned from the position of the president with effect from 6 July 2020 due to change of work. It refers to the announcement of the Bank dated 17 January 2020 in relation to, among others, the proposed election of Mr. XIAO as an executive director of the Bank. The resolution regarding the proposed election of Mr. XIAO as an executive director of the Bank will not be proposed at the general meeting of the Bank. The Board further announces that Mr. SHEN Guoyong ("Mr. SHEN") was appointed as the president of the Bank at the Board meeting on 6 July 2020, subject to the approval of his eligibility by the Liaoning Bureau of the China Banking and Insurance Regulatory Commission (the "CBIRC Liaoning Bureau"). The term of office for Mr. SHEN as the president of the Bank will commence upon the approval of his eligibility by the CBIRC Liaoning Bureau and end upon the termination of the current session of the Board.