China Financial Leasing : APPOINTMENT OF DIRECTOR AND CHAIRMAN OF THE BOARD

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CHINA FINANCIAL LEASING GROUP LIMITED

中 國 金 融 租 賃 集 團 有 限 公 司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2312)

APPOINTMENT OF DIRECTOR AND CHAIRMAN OF THE BOARD

The board (the "Board") of directors (the "Directors") of China Financial Leasing Group Limited (the "Company") announces that Mr. Liu Hailong ("Mr. Liu") has been appointed as the Company's non-executive Director and chairman of the Board with effect from 3 January 2020.

APPOINTMENT OF DIRECTOR AND CHAIRMAN OF THE BOARD

The board (the "Board") of directors (the "Directors") of China Financial Leasing Group Limited (the "Company") announces that as Mr. Liu Hailong ("Mr. Liu") has been appointed as the Company's non-executive Director with effect from 3 January 2020.

Mr. Liu

Mr. Liu, aged 49, possessed years of experience in electronic sales, special electronic

commerce operation and management. Mr. Liu is currently the chairman of the boards of directors of 安徽大運亨通電子商務股份有限公司 and 安徽天圓地方電子商務股份有限公

司. Mr. Liu is mainly responsible for, including but not limit to, operation, management,

financial, merchant and administration. Mr. Liu has been a chairman of the board of directors of 六安國鷹電子銷售有限公司 from January 2004 to December 2013. Mr. Liu

was appointed as council member of Asia-Pacific Financial Council from October 2015 to October 2016, and vice officer of 安徽省創業創新企業家論壇組委員電商委員會 since 2018.

Mr. Liu is currently a chairman of the board of directors of China Electronics Holdings Inc., a company listed on Nasdaq with ticker symbol "CEHD".

• For identification purpose only

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As at the date of this announcement, Mr. Liu confirmed to the Company that Mr. Liu is deemed to be interested (pursuant to Part XV of the Securities and Futures Ordinance,

chapter 571 of the laws of Hong Kong) in 338,000,000 shares of the Company through his wholly-owned company, 安徽大運亨通電子商務股份有限公司 (a company incorporated in

British Virgin Island). Save as disclosed above, Mr. Liu does not hold any other positions with the Company or its subsidiaries, nor has he held any directorships in other listed public companies in the past three years. Mr. Liu does not have any relationships with other Directors, senior management, substantial or controlling shareholders of the Company.

Mr. Liu has entered into an appointment letter with the Company with no specific term for appointment. In accordance with the articles of association of the Company, Mr. Liu is subject to retirement at the Company's next annual general meeting after his appointment and thereafter subject to retirement by rotation at least once in every three years. The remuneration of Mr. Liu shall be determined by the Board at a later stage with reference to the recommendation of the remuneration committee of the Company according to his respective qualifications and experiences, his respective duties and responsibilities with the Company, the Company's performance and the prevailing market situation.

Save as disclosed above, there is no information relating to the appointment of Mr. Liu that needs to be brought to the attention of the holders of securities of the Company nor is there any information to be disclosed by the Company pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange.

Since the office of the chairman of the Board is vacant that the roles and duties of which are assumed by the Board, Mr. Liu appointed as a non-executive Director and chairman of the Board will in charge of the management of the Board and will not involve in the day-to-day management of the business of the Company and will not participate in the executive management team of the Company.

The Board warmly welcomes Mr. Liu's joining to the Board.

By Order of the Board

CHINA FINANCIAL LEASING GROUP LIMITED

Wong Ka Shing

Company Secretary

Hong Kong, 3 January 2020

As at the date of this announcement, the board of Directors of the Company comprises Mr. Chan Chi Hang as executive Director, Mr. Yip Ming, Mr. Tsang Chung Sing Edward, Mr. Zhang Bin and Mr. Wang Ruiyang as independent non-executive Directors.

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