Guolian Securities Co., Ltd. announced that following the approval of Shareholders at the EGM on 8 November 2018, Mr. Wu Xingyu has been elected as an independent non-executive Director of the third session of the Board of the Company. His term shall commence from the date of obtaining the approval of qualification by the PRC securities regulatory authority until the date of expiry of the third session of the Board. Hence, the retirement of Ms. Chen Qingyuan will take effect from the date on which Mr. Wu Xingyu's appointment is effective. When the appointment of Mr. Wu Xingyu comes into effect, the Company will make a further announcement as and when appropriate in accordance with the Listing Rules. Mr. Wu Xingyu, born in 1976 with Chinese nationality, possesses no foreign permanent residency and is currently the deputy general manager of Beijing Tianyou Investment Co., Ltd. Mr. Wu worked in the Settlement Division of China Foreign Exchange Trade System from March 2000 to March 2001, consecutively served as the manager, senior manager and executive manager of the First Listing Companies Supervision Department of Shanghai Stock Exchange from March 2001 to July 2013, served as deputy general manager and chief financial officer in Nanjing Aotecar New Energy Technology Co., Ltd. from July 2013 to October 2018 and worked as deputy general manager and chief financial officer in Aotecar New Energy Technology Co., Ltd. from June 2015 to October 2018. Currently, Mr. Wu Xingyu also holds independent directorships in Anhui Tongfeng Electronics Company Limited, Hubei Jumpcan Pharmaceutical Co., Ltd. , Shanghai PRET Composites Co., Ltd. and Beijing Tongrentang Co., Ltd.  respectively.