The board of directors of Haitong International Securities Group Limited announced that Mr. QU Qiuping has resigned as the Chairman of the Board and a non-executive director of the Company and ceased to act as the Chairman of the nomination committee (the "Nomination Committee") and the strategic development committee (the "Strategic Development Committee") of the Company as well as a member of the remuneration committee (the "Remuneration Committee") of the Company with effect from 19 October 2021 due to change in work arrangement. Mr. QU has confirmed that there is no disagreement between him and the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company. Mr. QU has served as the Chairman of the Board since 8 February 2018. The Board announced that Mr. LI Jun ("Mr. LI") has been appointed as the Chairman of the Board and a non-executive director of the Company, the Chairman of the Nomination Committee and the Strategic Development Committee as well as a member of the Remuneration Committee of the Company with effect from 19 October 2021. Mr. LI worked on the Shanghai Stock Exchange from August 2021 and has served as an executive director and a chairman of the compliance and risk control committee of the board of HSCL since 28 September 2021.