Reference is made to the announcement of Shengjing Bank Co., Ltd. dated 17 January 2020 in relation to, among others, the resolution passed by the board of directors of the Bank to appoint Mr. XIAO Ruiyan as the president of the Bank. The qualification of Mr. XIAO is subject to the approval by the Liaoning Bureau of the China Banking and Insurance Regulatory Commission. The Bank has recently received the approval on the qualification of XIAO Ruiyan issued by the CBIRC Liaoning Bureau (Liao Yin Bao Jian Fu [2020] No. 235), pursuant to which the qualification of Mr. XIAO as the president of the Bank was approved by the CBIRC Liaoning Bureau. The term of office of Mr. XIAO as the president of the Bank commenced from 27 May 2020.