The board of directors of China Merchants Securities Co., Ltd. announced that Mr. WANG Wen has tendered his resignation from his positions as a non-executive Director of the Company, a member of each of the Strategy and Sustainability Committee and the Risk Management Committee under the Board with effect from May 19, 2023, due to change in his work arrangements. Mr. WANG has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders and creditors of the Company. The resignation of Mr. WANG will not affect the operation of the Board and the Company.

The Company would like to take this opportunity to extend its sincere gratitude to Mr. WANG for his valuable contributions to the Company during his tenure of office.