The board of directors of the China Merchants Securities Co., Ltd. announced that the Board has resolved to appoint Mr. WU Zongmin (Mr. WU) as the president of the Company at the meeting held on January 13, 2022. The term of office of Mr. WU will be three years with effect from January 13, 2022. Upon effective of Mr. WU's appointment, Mr. HUO Da, the chairman of the Board, will cease to perform the duties of the president of the Company.

Mr. WU Zongmin, aged 56, served as a deputy director (Standing) of the Execution Committee of China Merchants Financial Services Business Unit from April 2021 to October 2021; served as an executive member (Standing) of the Execution Committee of China Merchants Financial Services Business Unit from June 2018 to April 2021.