Orient Securities : RESIGNATION OF INDEPENDENT NON-EXECUTIVE 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)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of 東方證券股份有限公司 (the "Company") received a written resignation letter today from Mr. Xu Guoxiang, an independent non-executive director of the Company. Mr. Xu Guoxiang has tendered to the Board his resignation from the positions of an independent non-executive director of the fourth session of the Board and a member of the remuneration and nomination committee and a member of the audit committee of the Board due to expiration of his tenure as an independent non-executive director. Upon the resignation taking effect, Mr. Xu Guoxiang will no longer hold any position in the Company. Mr. Xu Guoxiang confirms that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders or The Stock Exchange of Hong Kong Limited.

As the resignation of Mr. Xu Guoxiang will cause the number of independent non-executive directors to be less than one-third of the Board, in accordance with the Company Law of the People's Republic of China, the Guiding Opinions on Establishing the Independent Director System in Listed Companies 《( 關於在 上市公司建立獨立董事制度的指導意見》), the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Articles of Association of the Company and other relevant requirements, such resignation will take effect upon the appointment of a new independent non-executive director to fill the vacancy, and to satisfy the requirement that the independent non-executive directors should be not less than one-third of the Board. Prior to this, Mr. Xu Guoxiang will continue to perform the duties as an independent non-executive director of the Company, a member of the remuneration and nomination committee and a member of the audit committee of the Board in accordance with the requirements of relevant laws, regulations and the Articles of Association of the Company.

During his term of office as an independent non-executive director of the Company, Mr. Xu Guoxiang has been independent, impartial and diligent in his duties and functioned actively in improving corporate governance and promoting the strategic development of the Company. The Company and the Board would like to take this opportunity to express their sincere appreciation to Mr. Xu Guoxiang for his contributions to the Company during his term.

By order of the Board of Directors

PAN Xinjun

Chairman

Shanghai, PRC

August 14, 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. ZHOU Donghui, 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.