CDB Leasing (01606) Announces Resignation of Vice Chairman and President Jin Tao; Chair Ma Hong to Serve as Interim President

China Development Bank Financial Leasing Co., Ltd. (CDB Leasing, 01606) disclosed that Vice Chairman, Executive Director and President Jin Tao has resigned from all positions, effective 18 March 2026, citing adjustments in work arrangements.

Jin’s departure covers a broad slate of roles, including: chairman of the Board’s Social Responsibility and Consumer Rights Protection Committee, and membership in the Remuneration, Related Party Transaction Control, Risk Management and Internal Control, and Strategic Decision committees. He confirmed no disagreement with the Board and indicated no other matters requiring shareholder attention. The Board expressed appreciation for his contributions during his tenure.

Until a successor is appointed and secures requisite approvals from shareholders and the Shenzhen Office of the National Financial Regulatory Administration, Board Chair Ma Hong will concurrently assume the responsibilities of president. This interim dual role deviates from Corporate Governance Code provision C.2.1, which separates the chairman and chief executive positions. The Board considers the overlap temporary and believes it will not compromise governance effectiveness.

CDB Leasing intends to identify and nominate suitable candidates for the vacant positions of vice chairman, executive director and president “as soon as practicable” and will update the market in due course. As of the announcement date, the Board comprises one executive director (Ma Hong), two non-executive directors (Zhang Kesheng and Zhang Chuanhong) and three independent non-executive directors (Liu Ming, Wang Guiguo and Liu Siqin).