Orient Securities : ANNOUNCEMENT ON APPOINTMENT OF NON-EXECUTIVE DIRECTOR(EMPLOYEE REPRESENTATIVE DIRECTOR)

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock company incorporated in the People's Republic of China with limited liability under the Chinese corporate name "東方證券股份有限公司" and carrying on business

in Hong Kong as "東方證券" (in Chinese) and "DFZQ" (in English))

(Stock Code: 03958)

ANNOUNCEMENT ON APPOINTMENT OF NON-EXECUTIVE DIRECTOR

(EMPLOYEE REPRESENTATIVE DIRECTOR)

Reference is made to the announcement of 東方證券股份有限公司 (the "Company") dated February 14, 2020 in relation to the election of non-executive director (employee representative director). The Company held the seventh joint meeting of the third session of the employee congress via correspondence on February 14, 2020, in which Mr. CHEN Xiaobo was elected as a non-executive director (employee representative director) of the fourth session of the board of directors of the Company (the "Board") with a term the same as that of the fourth session of the Board and will perform his duties when his qualification of being a director is approved by the China Securities Regulatory Commission (the "CSRC").

A few days ago, the newly revised 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), directors of securities companies no longer need regulatory authorities to approve their qualifications before taking office. Accordingly, Mr. CHEN Xiaobo formally performs the duties of the Company's non-executive director (employee representative director) from the date of this announcement, with the term of office until the expiry of the term of service of the current session of the Board.

By order of the Board of Directors

PAN Xinjun

Chairman

Shanghai, PRC

March 5, 2020

As at the date of this announcement, the Board of Directors comprises Mr. PAN Xinjun and Mr. JIN Wenzhong as executive Directors; Mr. LIU Wei, Mr. WU Junhao, Mr. CHEN Bin, Mr. LI Xiang, Ms. XIA Jinghan, Mr. XU Jianguo and Mr. CHEN Xiaobo as non-executive Directors; and Mr. XU Guoxiang, Mr. TAO Xiuming, Mr. WEI Anning, Mr. XU Zhiming and Mr. JIN Qinglu as independent non-executive Directors.