Chongqing Rural Commercial Bank "changes leadership", veteran Xie Wenhui resigns as Chairman in writing

Chongqing Rural Commercial Bank (referred to as "CQRC BANK"), with total assets exceeding RMB 15 trillion, announced a "change of leadership" today. On the evening of October 16th, CQRC BANK announced that they recently received a written resignation letter from Chairman Xie Wenhui. Due to work adjustments, Xie Wenhui resigned from the positions of Chairman, Executive Director, Chairman of the Board's Strategic Development Committee, Chairman of the Agricultural Financial Services Committee, and member of the Nomination Committee. Xie Wenhui's resignation takes effect from the date the resignation letter was delivered to the Board. Xie Wenhui confirmed that there were no disagreements with the Board and no other matters to notify the shareholders. The announcement also stated that the Board highly commended and sincerely thanked Xie Wenhui for his outstanding contributions during his tenure. Acting Chairman Assumes Chairman Responsibilities According to the announcement by CQRC BANK, the 47th meeting of the Fifth Board of Directors was held on October 16, 2024, at the 401 meeting room of the bank's headquarters through a combination of on-site and communication methods. Upon the recommendation of attending directors, the meeting approved: the proposal to elect Sui Jun to serve as Chairman of Chongqing Rural Commercial Bank Co., Ltd., the proposal to review the adjustment of members of the Fifth Board of Directors' Special Committees, and the proposal to review the change of authorized representatives of Chongqing Rural Commercial Bank Co., Ltd. To ensure the continued standardized operation of CQRC BANK, the Board agreed to elect Executive Director and President Sui Jun to assume the positions of Chairman and Legal Representative until the appointment of a new Chairman in accordance with the Company's Articles of Association and upon approval of his qualifications by regulatory authorities. Successor Sui Jun Sui Jun, born in December 1968, is 55 years old this year. His resume shows that Sui Jun has held various positions, including General Manager of the Nanchong Branch Business Department of China Construction Bank. He later served as Secretary of the Party Committee and Chairman of Jiangjin Rural Credit Cooperative Union, among other positions. Sui Jun also has extensive work experience at CQRC BANK, having served as Secretary and President of the Jiangjin Branch, General Manager of the Head Office Business Department, Member of the Party Committee of the Head Office, Vice President, Executive Director, Board Secretary, Secretary and Chairman of Chongqing Auto Finance Co., Ltd., and Member of the Party Committee and Vice President of Chongqing Bank Co., Ltd. In April 2023, the Board of Directors of CQRC BANK appointed Sui Jun as President. Departing Chairman Xie Wenhui Xie Wenhui, who is leaving this time, had a long career in the banking sector. His resume shows that Xie Wenhui obtained a Bachelor's degree in Precision Instruments and Machinery from Chongqing University in 1994, and a Master's degree in Precision Instruments and Machinery from Chongqing University in 1997. He is an economist and engineer. From May 2011 to December 2013, Xie Wenhui served as a member of the Party Committee and Vice President of CQRC BANK. Prior to that, from August 2008 to May 2011, he held positions as General Manager and Deputy General Manager (in charge of work) of the Technology Department. From January 2007 to August 2008, he served as Deputy General Manager and Assistant General Manager of the Technology Department of Chongqing Rural Credit Cooperative Union. Before joining the bank, Xie Wenhui worked as Deputy Section Chief of the Technology Department at the Chongqing Branch of Industrial and Commercial Bank of China from March 1998 to January 2007, and worked at the Zhuhai Software Development Center of Industrial and Commercial Bank of China from July 1997 to March 1998 The announcement also shows that Xie Wenhui has served as the Deputy Secretary of the Party Committee and President of Chongqing Rural Commercial Bank since 2013, and has been appointed as the Secretary of the Party Committee and Chairman of Chongqing Rural Commercial Bank since 2022