China Galaxy Securities : ANNOUNCEMENT COMPLETION OF NON-PUBLIC ISSUANCE OF 2020 CORPORATE BONDS (FIRST TRANCHE)

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

(Stock code: 06881)

ANNOUNCEMENT

COMPLETION OF NON-PUBLIC ISSUANCE

OF 2020 CORPORATE BONDS (FIRST TRANCHE)

Reference is made to the circular of China Galaxy Securities Co., Ltd. (the "Company") dated 5 May 2017 and the announcement dated 22 June 2017.

The amendment to the plan on authorization given by the shareholders' general meeting to the board of directors of the Company (the "Board") was approved at the annual general meeting of the Company held on 22 June 2017, pursuant to which, the Board has been authorized to issue debt financing instruments with a balance of not exceeding 350% of the net capital of the Company.

The Board is pleased to announce that, in accordance with the above authorization, the Company has completed the non-public issuance of 2020 corporate bonds (first tranche) (the "Corporate Bonds") on 17 February 2020. The issue size of the Corporate Bonds is RMB5 billion with the nominal value and the issue price of RMB100 per unit. The Corporate Bonds consist of two types, of which the first type has a term of two years (the "Two-yearCorporate Bonds") and the second type has a term of three years (the "Three-yearCorporate Bonds"). The final issue size of the Two-year Corporate Bonds is RMB3.2 billion with a final coupon rate of 3.15%, and the final issue size of the Three-year Corporate Bonds is RMB1.8 billion with a final coupon rate of 3.25%. The proceeds from the issuance of the Corporate Bonds will be used to repay debt financing instruments of the Company that are due or sold back by investors.

By order of the Board

China Galaxy Securities Co., Ltd.

Chen Gongyan

Chairman and Executive Director

Beijing, the PRC

17 February 2020

As at the date of this announcement, the executive directors of the Company are Mr. CHEN Gongyan (Chairman) and Mr. CHEN Liang (Vice Chairman and President); the non-executive directors are Mr. LIU Dingping, Ms. XIAO Lihong, Mr. ZHANG Tianli and Ms. WANG Zelan; and the independent non-executive directors are Mr. LIU Ruizhong, Mr. WANG Zhenjun and Ms. LIU Chun.