Everbright Securities : ANNOUNCEMENT ON EFFECTIVENESS OF THE APPOINTMENT OF EXECUTIVE DIRECTOR AND PRESIDENT

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Everbright Securities Company Limited

光 大 證 券 股 份 有 限 公 司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 6178)

ANNOUNCEMENT ON EFFECTIVENESS OF THE

APPOINTMENT OF EXECUTIVE DIRECTOR AND PRESIDENT

Reference is made to the announcement of proposed appointment of executive director and appointment of president as well as circular of the 2020 first extraordinary general meeting (the "EGM") of Everbright Securities Company Limited (the "Company") dated January 16, 2020 (the "Circular") and the announcement on the poll results of the EGM dated March 3, 2020. Unless the context otherwise requires, the capitalized terms used in this announcement shall have the same meaning as those defined in the Circular.

As previously disclosed, the appointment of Mr. Liu Qiuming ("Mr. Liu") as the president was considered and approved by the Board on January 16, 2020. Mr. Liu was elected as an executive director of the fifth session of the Board at the EGM. The appointment of Mr. Liu as an executive director and the president of the Company will become effective when the relevant qualifications in a securities company are obtained.

A few days ago, the newly revised the Securities Law of the People's Republic of China 《( 中 華人民共和國證券法》) (the "New Securities Law") came into effect. According to the New

Securities Law and the CSRC's Announcement on Various Issues in relation to the Cancellation

or Adjustment of Certain Administrative Approval Projects of Securities Companies 《( 關於取消 或調整證券公司部分行政審批項目等事項的公告》) (CSRC Announcement [2020] No. 18), the

qualifications of directors and senior management of securities companies no longer need to be approved by regulatory authorities before taking office and were changed to subsequent filing administration. The Company filed with the Shanghai Securities Regulatory Bureau of the CSRC in accordance with the above requirements. Accordingly, the appointment of Mr. Liu as an executive director and the president of the Company became effective from March 13, 2020.

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According to the Articles of Association of Everbright Securities Company Limited, the president is the legal representative of the Company, which is changed to Mr. Liu Qiuming. The Company will complete relevant procedures including change of business registration as soon as possible in accordance with relevant requirements.

By order of the Board

Everbright Securities Company Limited

Yan Jun

Executive Director

Shanghai, the PRC

March 13, 2020

As at the date of this announcement, the Board of the Company comprises Mr. Yan Jun (Chairman, Executive Director), Mr. Liu Qiuming (Executive Director), Mr. Song Bingfang (Non-executive Director), Mr. Yin Lianchen (Non-executive Director), Mr. Chan Ming Kin (Non-executive Director), Mr. Xue Keqing (Non-executive Director), Mr. Meng Xiangkai (Non-executive Director), Mr. Xu Jingchang (Independent Non-executive Director), Mr. Xiong Yan (Independent Non-executive Director), Mr. Li Zheping (Independent Non-executive Director), Mr. Au Sing Kun (Independent Non-executive Director) and Mr. Wang Yong (Independent Non-executive Director).

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