The board of directors of China Merchants Securities Co., Ltd. announced that Mr. XIONG Xianliang has resigned from his positions as a non-executive director ("Director") of the Company and a member of the Strategy Committee of the Board with effect from January 21, 2022, due to change in his work arrangements. Mr. XIONG 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 (the "Shareholders") and creditors of the Company. The Board further announced that the Board has resolved to nominate Mr. WU Zongmin as a candidate for executive Director of the seventh session of the Board at the meeting held on January 21, 2022. The appointment of Mr. WU is subject to the consideration
and approval by the Shareholders at the general meeting of the Company (the "General Meeting"). The term of office of Mr. WU as an executive Director of the Company will take effect from the date on which the resolution in relation to his appointment as executive Director of the seventh session of the Board is approved at the General Meeting until the expiry of the seventh session of the Board. Pursuant to the articles of association of the Company (the "Articles of Association"), Mr. WU is eligible for re-election upon the expiry of his term of
office. Mr. WU Zongmin has served as the president of the Company since January 2022. He served as a deputy director (Standing) of the Execution Committee of China Merchants Financial Services Business Unit from April 2021 to October 2021. The Board further announced that the Board has resolved to nominate Mr. DENG Weidong as a candidate for non-executive Director of the seventh session of the Board
at the meeting held on January 21, 2022. The appointment of Mr. DENG is subject to the consideration and approval by the Shareholders at the General Meeting. The term of office of Mr. DENG as a non-executive Director of the Company will take effect from the date on which the resolution in relation to his appointment as a non-executive Director of the seventh session of the Board is approved at the General Meeting until the expiry of the seventh session of the Board. Pursuant to the Articles of Association, Mr. DENG is eligible for re-election upon the expiry of his term of office. Mr. DENG Weidong has served as the head of the Strategic Development Department/Technological Innovation Department of China Merchants Group Limited ("China Merchants Group") since August 2021.