Guolian Securities : ANNOUNCEMENT ON REPLY FROM THE CSRC REGARDING CONDUCTING PILOT FUND INVESTMENT ADVISORY BUSINESS

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

(Stock Code: 01456)

ANNOUNCEMENT ON REPLY FROM THE CSRC

REGARDING CONDUCTING PILOT FUND INVESTMENT

ADVISORY BUSINESS

Recently, the Company received the "Reply on Matters Regarding Conducting Pilot Fund

Investment Advisory Business by Guolian Securities Co., Ltd." (Ji Gou Bu Han [2020] No. 390)（《關於國聯證券股份有限公司試點開展基金投資顧問業務有關事項的覆函》）（機

構部函[2020]390號）(the "Reply") from the China Securities Regulatory Commission (the "CSRC"), pursuant to which, the CSRC has no objection to the Company conducting pilot fund investment advisory business. The pilot period of the fund investment advisory business is one year. After one year of business operation, the Company shall apply for renewal as required.

The Company will establish a sound internal control system, strengthen compliance and risk management, effectively prevent conflicts of interest, prevent and control various risks, and complete the relevant preparation works as soon as possible in accordance with the

requirements of the "Notice on the Pilot Work of Investment Advisory Business of Publicly Offered Securities Investment Fund（" 《關於做好公開募集證券投資基金投資顧問業務試點 工作的通知》）, and will conduct the pilot business after submitting an application to Jiangsu

Securities Regulatory Bureau for acceptance.

By order of the Board

Guolian Securities Co., Ltd.

Yao Zhiyong

Chairman

Wuxi, Jiangsu Province, the PRC

4 March 2020

As of the date of this announcement, the executive director of the Company is Mr. Ge Xiaobo; the non-executive directors of the Company are Mr. Yao Zhiyong, Mr. Hua Weirong, Mr. Zhou Weiping, Mr. Liu Hailin and Mr. Zhang Weigang; and the independent non-executive directors of the Company are Mr. Lu Yuanzhu, Mr. Wu Xingyu and Mr. Chu, Howard Ho Hwa.