Chongqing Rural Commercial Bank Co., Ltd. (CQRC BANK, 03618) reported the recent passing of Independent Non-Executive Director (INED) Mr. Li Jiaming, who also chaired the Audit and Remuneration Committees and served on three other board committees. The Board expressed deep condolences and recognition of Mr. Li’s professional contributions.

Following Mr. Li’s death, the Board size has fallen to seven from eight, with the number of INEDs decreasing to two. This does not meet Rule 3.10(1) and Rule 3.10A of the Hong Kong Listing Rules, which require at least three INEDs and that they constitute no less than one-third of the Board.

Committee impacts are as follows: • Audit Committee membership has dropped to four (two non-executive directors and two INEDs), leaving it short of the majority-INED requirement and without an INED chair, contrary to Rule 3.21. • Remuneration Committee membership now stands at two (one non-executive director and one INED), below the minimum three-member threshold and lacking an INED chair as stipulated by Rule 3.25. • The Remuneration, Nomination, Related Party Transaction Supervision, and Sannong Financial Services Committees each now have only two members, below the three-member minimum set in the Bank’s Articles of Association.

In line with Rule 3.11, CQRC BANK aims to appoint a qualified INED within three months of 20 March 2026. A Board meeting will be convened to restore compliant committee compositions within the same timeframe, in accordance with Rules 3.23 and 3.27. Further announcements will be issued once appointments are finalized.

As of the announcement date, the Board comprises: Executive Directors Mr. Liu Xiaojun (Chairman) and Mr. Sui Jun; Non-Executive Directors Mr. Ma Bao, Mr. Dong Bin, and Mr. Yuan Gang; and INEDs Mr. Lee Ming Hau and Ms. Bi Qian.