The Board of Directors (the ?Board?) of X Financial has approved the following changes to the Board and management, effective as of the date November 22, 2023. Mr. Shaoyong (Simon) Cheng resigned as Vice Chairman while remaining as a Non-Executive Director of the Board. Mr. Kan (Kent) Li resigned as Chief Risk Officer and continues to serve as President and Director of the Board.

Mr. Yufan Jiang, who joined X Financial in 2015, was appointed as Chief Risk Officer. Mr. Ding (Gardon) Gao resigned as Chief Technology Officer.