China Merchants Securities : APPOINTMENT OF NON-EXECUTIVE DIRECTOR

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

(Stock Code: 6099)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Reference are made to (i) the announcement of China Merchants Securities Co., Ltd. (the "Company") dated October 15, 2019 (the "2019 October Announcement"); (ii) the circular of the Company dated November 29, 2019 (the "Circular"); and (iii) the announcement of the Company dated January 15, 2020 (together with the 2019 October Announcement, the "Announcements"), in relation to (among others) the appointment of Mr. GAO Hong ("Mr. Gao") as the non-executive Director of the Company. Unless the context otherwise requires, capitalized terms used in this announcement shall have the same meanings as those defined in the Circular.

The appointment of Mr. Gao as non-executive Director of the Company has been approved by ordinary resolution of the Shareholders at the 2020 first extraordinary general meeting (the "EGM") on January 15, 2020, with a term from the date of obtaining the approval of the regulatory authority(ies) in relation to his qualification as a director of a securities company to the expiry date of the current session of the Board of the Company.

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), the qualification of directors, supervisors and senior management of securities companies no longer requires prerequisite approval from regulatory authorities and is replaced by a post-appointment filing instead. Accordingly, Mr. Gao officially serves as a non-executive director of the Company from date of this announcement, with the term of office until the expiry of the term of service of the current session of the Board of the Company.

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For the biographical details of Mr. Gao and other information in relation to his appointment, please refer to the Circular and the Announcements. As at the date of this announcement, there has been no change in such information.

By Order of the Board of Directors

China Merchants Securities Co., Ltd.

HUO Da

Chairman

Shenzhen, the PRC

March 9, 2020

As at the date of this announcement, the executive directors of the Company are Mr. HUO Da and Mr. XIONG Jiantao; the non-executive directors of the Company are Ms. SU Min, Mr. SU Jian, Mr. XIONG Xianliang, Ms. PENG Lei, Mr. GAO Hong, Mr. HUANG Jian, Mr. WANG Daxiong and Mr. WANG Wen; and the independent non-executive directors of the Company are Mr. XIANG Hua, Mr. XIAO Houfa, Mr. XIONG Wei, Mr. HU Honggao and Mr. WONG Ti.

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