Reference is made to the announcement of Central China Securities Co., Ltd. dated 9 June 2021 in relation to, inter alia, the resignation of Mr. Chang Junsheng as the president of the company. To maintain the continuity and stability of the company's operations, the Board of Directors of the company considered and approved the Proposal on Performing the Duties of the President by the Executive Vice President on 9 June 2021, pursuant to which, Mr. Zhu Jianmin, the Executive Vice President of the company, is designated to perform the duties of the President of the Company, for a term ending on the date when the new President of the company takes office. As at the date of this announcement, the company convened the seventh meeting of the seventh session of the Board considered and approved the Proposal on Appointment of President of the company.

The company has organized registration, qualification review, comprehensive evaluation and other selection procedures, and the Board agreed to appoint Mr. Li Zhaoxin as the President and deputy director of the executive committee of the company upon review and nomination by the Remuneration and Nomination Committee of the company, with his term of office commencing from the date (that is 29 April 2022) of consideration and approval by the Board until the expiry of the term of office of the seventh session of the Board. From the effective date (that is 29 April 2022) of the aforesaid appointment of Mr. Li Zhaoxin as the President, Mr. Zhu Jianmin will no longer perform his duties as the President of the company. The appointment of Mr. Li as the President by the Board is in compliance with the relevant laws and the Articles of Association of the Company.

Mr. Li is competent to perform his duties as the President of the Company. No penalties are imposed on him by the China Securities Regulatory Commission, the Shanghai Stock Exchange and other relevant authorities, and there are no circumstances that prohibit him from serving as a senior management member of the Company under the requirements of the Company Law of the People's Republic of China. Mr. Li joined the Group in November 2017 and has been a member of the Party Committee of the Company; he has been the Chief Accountant and Person in-charge-of Finance Department of the Company since January 2018.

Mr. Li served as an executive director and legal representative of Zhongding Kaiyuan Venture Capital Management Co., Ltd., a subsidiary of the Company, from September 2019 to November 2020; and has been a member of the executive committee of the Company since January 2022. Mr. Li is concurrently a committee member of the Financial Accounting Professional Committee of the Securities Association of China.