*ST Middle Velvet ((000982): Staff Supervisor For By Election

Announcement of the Limited by Share Ltd of Ningxia Bank of China on the election of staff supervisors

All members of the company and the board of supervisors ensure that the contents of the information disclosure are authentic, accurate and complete, without false records, misleading statements or major omissions.

Jin Yuehua, a staff supervisor of the Limited by Share Ltd of Ningxia Bank of China (hereinafter referred to as "company"), submitted a resignation report to the board of supervisors of the company on the 31 day of December 2019 because of the reasons for the change of his job. He resigned from the company's supervisory board and resigned from office. In view of the resignation of Mr. Jin Yuehua, the number of board of supervisors of the company will be below the statutory requirements. According to the relevant provisions of the company law and the articles of association, Mr. Jin Yuehua's resignation will take effect when the new employee supervisor is elected by the company. Details are given to some of the directors and executives of the Limited by Share Ltd in Ningxia on January 3, 2020. The notice of supervisor resignation (Announcement No. 2020-01). The company and the board of supervisors express their heartfelt thanks to Mr. Jin Yuehua for his contribution to the company's development during his tenure.

In order to ensure the normal operation of the board of supervisors, Li Yun was elected as the staff supervisor of the seventh board of supervisors of the company after the election of the company staff meeting held in March 31, 2020. In accordance with the provisions of the company law and the articles of association, Ms. Li Yun has been appointed as a company supervisor since March 31, 2020, and has formed the seventh supervisory board of the company with two other incumbent supervisors, Mr. Yin Chenghai and Mr. Gao Haili. The term of office is in line with the term of office of the seventh supervisory board of the company. The resume of Li Yun supervisor is as follows:

Li Yun, born in 1991, graduated from University of Missouri with master of Science degree. She obtained the qualification of securities and the qualification of fund. In February 2015 -2016, he worked for Beta Alpha Psi in August of February 2015, worked in Beijing peace fortune consulting company in November September 2016, worked in Heng Tian Jin Shi Cci Capital Ltd in December 2017, December 2017, and served as data communications technology in Fei Xun in December 2017.

Director of limited company; he served as supervisor of Ningxia Shang Wei Cci Capital Ltd in June 2019; in January 2020 he worked as a vice president of Ningxia strategic investment department. Ms. Li Yun did not hold shares in the company and had no relationship with other directors, supervisors, executives and controlling shareholders of the company. There are no cases of company directors, supervisors and senior managers not stipulated in the company law and articles of association. They have not been punished by the CSRC and other relevant departments and punished by stock exchanges, nor are they "dishonest executors". Notice hereby.

Ningxia cashmere industry Limited by Share Ltd board of supervisors

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