GF Securities : ANNOUNCEMENT - RESIGNATION OF A NON-EXECUTIVE DIRECTOR

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GF SECURITIES CO., LTD.

廣發証券股份有限公司

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

(Stock Code: 1776)

ANNOUNCEMENT

RESIGNATION OF A NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of GF Securities Co., Ltd. (the "Company") announced that the Company received a resignation letter from Ms. Liu Xuetao ("Ms. Liu"), a non-executive director of the Company, on September 18, 2020. Ms. Liu resigned the position as a non-executive director and a member of the Strategy Committee of the Board of the Company by reason of work adjustment. Ms. Liu's resignation became effective on the date of receipt of her resignation letter by the Company.

Ms. Liu has confirmed that she has no disagreement with the Board, nor is there any other matter with respect to her resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

The Company hereby expresses its sincere gratitude to Ms. Liu's diligence and commitments and her contributions to the Company during her term of office.

By order of the Board

GF Securities Co., Ltd.

Sun Shuming

Chairman

Guangzhou, the PRC

September 18, 2020

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Sun Shuming, Mr. Qin Li and Ms. Sun Xiaoyan as executive Directors; Mr. Li Xiulin and Mr. Shang Shuzhi as non-executive Directors; Mr. Fan Lifu, Mr. Hu Bin, Ms. Leung Shek Ling Olivia and Mr. Li Wenjing as independent non-executive Directors.