Huishang Bank : Announcements and Notices - Announcement on Appointment of Employee Representative Supervisor

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Huishang Bank Corporation Limited*

徽 商 銀 行 股 份 有 限 公 司 *

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3698)

ANNOUNCEMENT ON APPOINTMENT OF EMPLOYEE REPRESENTATIVE SUPERVISOR

Reference is made to the announcement of Huishang Bank Corporation Limited (the "Bank") dated January 6, 2016 in relation to the resignation of Mr. Zhang Renfu ("Mr. Zhang"), an executive director and member of the Strategic Development Committee of the Bank with effect from January 6, 2016.

The board of directors (the "Board") of the Bank announces that, pursuant to the Terms of Reference of the Board of Supervisors and through employees' democratic procedures of the Bank, Mr. Zhang has been elected as employee representative supervisor of the Bank with effect from January 8, 2016. The term of office of Mr. Zhang as an employee representative supervisor is the same as the term of the third session of the board of supervisors of the Bank, which shall commence from the date of appointment as employee representative supervisor and is expected to end at the 2015 annual general meeting of the Bank to be held in 2016.

Biographical details of Mr. Zhang are set out below:

Mr. Zhang Renfu, aged 53, joined the Bank in December 2005 and had been an executive director of the Bank until January 2016. Mr. Zhang had held a number of positions at the general office of Anhui Provincial Government, including deputy director of the liaison division, researcher at the third division of the secretariat, deputy director of the fifth division, deputy director of the secretariat and deputy director of the second division of the secretariat, and served as the deputy director in charge of the work of the finance office of Anhui Provincial Government. Mr. Zhang obtained a master's degree in laws from Renmin University of China and is a senior economist.

Mr. Zhang will enter into a supervisor's service agreement with the Bank, and his remuneration (including the basic salary, performance-based bonus and other benefits) will be determined based on the standards of the administrative measures on remuneration of the Bank. The basic salary will be determined according to the position of Mr. Zhang with the Bank; whereas the performance- based bonus will be determined according to the operating results of the Bank. Other benefits include the statutory pension, medical benefits, housing provident fund and corporate annuities. The annual remuneration of Mr. Zhang will be determined at the end of the year and disclosed in the annual report of the Bank for that year.

Mr. Zhang has not held directorship in any listed companies (other than the Bank) or any other position in the subsidiaries of the Bank during the previous three years. Saved as disclosed above, Mr. Zhang does not have any relationship with any other directors, supervisors, senior management or substantial shareholders of the Bank. As of the date of this announcement, Mr. Zhang has no interest in the Shares of the Bank within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there are no matters relating to Mr. Zhang's appointment required to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and there is no other information which need to be brought to the attention of the shareholders of the Bank.

By order of the Board

Huishang Bank Corporation Limited* Li Hongming

Chairman

Hefei, Anhui Province, China January 8, 2016

As at the date of this announcement, the Board of Directors of the Bank comprises Li Hongming, Xu Demei, Wu Xuemin and Ci Yaping as executive directors; Zhang Feifei, Zhu Jiusheng, Qian Li, Lu Hui, Zhao Zongren, Qiao Chuanfu and Gao Yang as non-executive directors; Au Ngai Daniel, Dai Genyou, Wang Shihao, Zhang Shenghuai, Fung Weichang and Zhu Hongjun as independent non-executive directors.

* Huishang Bank Corporation Limited is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking/deposit-taking business in Hong Kong.