Issue of New Shares to Targeted Investors by Fujian Haixia Bank,

advised by DeHeng, approved by CSRC

2019-1-26

On January 18, 2019, the application to issue no more than 1.3 billion new shares to the Targeted Investors by Fujian Haixia Bank Co., Ltd By Shares ("Haixia Bank") was approved by China Securities Regulatory Commission ("CSRC"). As Haixia Bank is an unlisted commercial bank with more than 200 shareholders, this issue is qualified as a public issuance of securities which needs the approval of China Banking and Insurance Regulatory Commission, and it should also be reported to the China Securities Regulatory Commission for approval according to law.

Haixia Bank, established in December 1996, has been enjoying sustainable and stable development up to now. Headquartered in Fuzhou, Haixia Bank established 11 branches in a variety of cities including Xiamen and Quanzhou in Fujian Province, as well as Wenzhou in Zhejiang Province. It has become an important financial institution serving regional economic development.

In this project, DeHeng acted as the special legal counsel for Haixia Bank. The legal team was led by Lawyers Liu Chao, Chen Bingkun and Liu Zonghong, supported by Lawyer You Huimei and trainees Li Zhimin and Zheng Yali, who are all from DeHeng Fuzhou office. Lawyer Sun Yanli from Beijing office, and Lawyer Liu Zhenguo from Shenzhen office, provided guidance and internal audit for this project. Meanwhile, Lawyer Wu Lianhua from Beijing office also provided assistance. All members made a closely cooperative team. DeHeng provided professional, comprehensive and high-quality legal services for this project which prompted the approval without inquiry by the China Securities Regulatory Commission.