China Galaxy Securities : ANNOUNCEMENT COMPLETION OF ISSUANCE OF 2020 TENTH TRANCHE OF SHORT-TERM COMMERCIAL PAPER

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

(Stock code: 06881)

ANNOUNCEMENT

COMPLETION OF ISSUANCE OF 2020 TENTH TRANCHE

OF SHORT-TERM COMMERCIAL PAPER

Reference is made to the circular of China Galaxy Securities Co., Ltd. (the "Company") dated 5 May 2017 and the announcement dated 22 June 2017.

The amendment to the plan on authorization given by the shareholders' general meeting to the board of directors of the Company (the "Board") was approved at the annual general meeting of the Company held on 22 June 2017, pursuant to which, the Board has been authorized to issue debt financing instruments with a balance of not exceeding 350% of the net capital of the Company.

The Board is pleased to announce that in accordance with the above authorization, the Company has completed the issuance of 2020 tenth tranche of short-term commercial paper (the "Commercial Paper") on 28 August 2020. The issue size of the Commercial Paper is RMB4 billion with the nominal value and the issue price of RMB100 per unit. The Commercial Paper has a term of 90 days and a final coupon rate of 2.65%. The proceeds from the issuance of the Commercial Paper will be used to supplement the working capital of the Company.

By order of the Board

China Galaxy Securities Co., Ltd.

CHEN Gongyan

Chairman and Executive Director

Beijing, the PRC

28 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. CHEN Gongyan (Chairman) and Mr. CHEN Liang (Vice Chairman and President); the non-executive directors are Mr. LIU Dingping, Ms. XIAO Lihong, Mr. ZHANG Tianli and Ms. WANG Zelan; and the independent non-executive directors are Mr. LIU Ruizhong, Mr. WANG Zhenjun, Ms. LIU Chun and Mr. LAW Cheuk Kin Stephen.