Orient Securities Company Limited's Board received the written resignation letter from Mr. CHEN Bin (Mr. CHEN), a non-executive director of the company after the eighteenth meeting of the fourth session of the Board on March 27, 2020. Due to work adjustment, Mr. CHEN applied to resign as a non-executive director and a member of the Remuneration and Nomination Committee to the fourth session of the Board. Mr. CHEN confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be notified to the shareholders or The Stock Exchange of Hong Kong Limited. The Board further announces that, upon nomination by Shanghai Haiyan Investment Management Company Limited, a shareholder of the Company, the Board approved after consideration and proposed to appoint Mr. ZHOU Donghui ("Mr. ZHOU") as a non-executive director the fourth session of the Board. Mr. ZHOU will take office from his appointment is approved at the general meeting till the expiry of the term of office of the fourth session of the Board. The Board further announces that, due to the recent change of employee representative director and non-executive director, upon consideration, the Company adjusted the members of the special committees under the Board as follows: According to the relevant requirements of appointment and removal of members under the Rules of Procedure of the Remuneration and Nomination Committee under the Board, it is approved that Mr. ZHOU is appointed as a member of the Remuneration and Nomination Committee under the fourth session of the Board, who shall take office from approval of the proposal on election of him as a non-executive director at the general meeting, with a term terminating upon expiry of the fourth session of the Board. References are made to the announcement of the Company dated February 14, 2020 in relation to the election of non-executive director (employee representative director) and the announcement of the Company dated March 5, 2020 in relation to the appointment of non-executive director (employee representative director). Mr. CHEN Xiaobo was elected as a non-executive director (employee representative director) of the fourth session of the Board at the 7th joint meeting of the third session of the employee congress of the Company, who has taken office since March 5, 2020. According to the relevant requirements of appointment and removal of members under the Rules of Procedure of the Strategy Development Committee under the Board, it is approved that Mr. CHEN Xiaobo elected as a member of the Strategy Development Committee under the fourth session of the Board, who shall take office from the date of this announcement with a term terminating upon expiry of the fourth session of the Board.