Guotai Junan Securities Co., Ltd. announced that Ms. LI Zhongning will no longer serve as a supervisor and chairman of the sixth session of the supervisory committee of the Company (the "Supervisory Committee") with immediate effect due to her age-limited retirement. Ms. LI Zhongning confirms that there is no dispute between her and the Supervisory Committee during her tenure and there is no matter relating to her retirement that needs to be brought to attention of the Shareholders of the Company. During her tenure as the chairman of the Supervisory Committee of the Company, Ms. LI Zhongning has adhered to the principles of independence, objectivity and professionalism, demonstrated dedication and diligence, performed her supervisory functions in accordance with laws and regulations, and done a lot of effective work in improving the Company's corporate governance structure, standardizing operations and reform and development.

The Supervisory Committee would like to take this opportunity to thank Ms. LI Zhongning for her outstanding contribution to the Company during her tenure as a supervisor and chairman of the Supervisory Committee.