The Board of China Merchants Securities Co., Ltd. announced the appointment of Mr. LI Xiaofei (Mr. LI) as a non- executive Director of the seventh session of the Board and the appointment of Mr. XU Xin (Mr. XU) as a shareholders' representative Supervisor of the seventh session of the Supervisory Committee have been approved by the Shareholders at the EGM by way of ordinary resolutions. Therefore, Mr. LI will serve as a non-executive Director of the seventh session of the Board from January 12, 2023, and Mr. XU will serve as a shareholders' representative Supervisor of the seventh session of the Supervisory Committee from January 12, 2023. The term of office of Mr. LI shall expire at the end of the term of the seventh session of the Board and the term of office of Mr. XU shall expire at the end of the term of the seventh session of the Supervisory Committee.

Mr. LI has tendered his resignation from his position as a shareholders' representative Supervisor of the Company. Since the appointment of Mr. XU as a shareholders' representative Supervisor has been approved by the Shareholders at the EGM, Mr. LI no longer serves as a shareholders' representative Supervisor since January 12, 2023. The Board further announced that Mr. LI Xiaofei, a non-executive Director, has been appointed as a member of each of the Risk Management Committee, the Remuneration and Appraisal Committee and the Nomination Committee under the Board, with effect from January 12, 2023.

The Risk Management Committee, the Remuneration and Appraisal Committee and the Nomination Committee under the Board shall comprise the following Directors from January 12, 2023: Risk Management Committee: Chairlady: Ms. SU Min; Members: Mr. WU Zongmin, Mr. LIU Weiwu, Mr. LI Xiaofei, Mr. LIU Chong, Mr. WANG; Wen and Mr. XIANG Hua. Remuneration and Appraisal Committee: Chairman: Mr. XIANG Hua; Members: Ms. SU Min, Mr. LI Xiaofei, Mr. XIONG Wei and Mr. FENG Jinhua. Nomination Committee: Chairman: Mr. XIONG Wei; Members: Mr. HUO Da, Mr. LI Xiaofei, Mr. XIAO Houfa, and Mr. HU Honggao.