The board (the "Board") of directors (the "Directors") of Ping An Securities Group (Holdings) Limited (the "Company", together with its subsidiaries, the "Group") announced that Dr. Leung Wing Cheung, William ("Dr. Leung") has resigned as independent non-executive Director and ceased to be chairman of the Remuneration Committee as well as member of the Audit Committee and the Nomination Committee with effect from 28 February 2020 because his personal engagements require more of his time and attention. Dr. Leung has confirmed that there is no disagreement with the Board and there is no matter in respect of his resignation that would need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board also announced that Mr. Wang Zihao ("Mr. Wang") has resigned as executive Director, and Mr. Lee Chun Pong ("Mr. Lee") and Ms. Luo Xia ("Ms. Luo") have resigned as non-executive Directors, all with effect from 28 February 2020, because their personal engagements require more of their time and attention. Mr. Wang, Mr. Lee and Ms. Luo have confirmed that there is no disagreement with the Board and there is no matter in respect of their resignation that would need to be brought to the attention of the shareholders of the Company or the Stock Exchange. The Board announced that Mr. Cheung Ming Ming ("Mr. Cheung") and Mr. Tsui Cheung On ("Mr. Tsui") have been re-designated from executive Directors to non-executive Directors with effect from 28 February 2020. Mr. Cheung, was appointed as an executive Director of the Company on 29 November 2019. Mr. Cheung is currently Head of Leveraged and Acquisition Finance Department in at Haitong International Securities Group Limited ("Haitong International") (the shares of which are listed on the Stock Exchange (stock code: 665)). He has been in the investment banking industry for 11 years. Mr. Cheung has extensive experience in the area of merger and acquisition advisory, acquisition and corporate finance, and private equity investment. He has been with Haitong International for 6 years. Prior to that, he had worked in ING Bank N.V. for more than 5 years. Mr. Cheung is a director of Well Up (Hong Kong) Limited. Mr. Tsui was appointed as a non-executive Director of the Company on 29 November 2019 and was re-designated to executive Director on 10 December 2020. He is currently the Director of Leveraged and Acquisition Finance Department of Haitong International. He has been in the investment banking industry for more than 12 years. Mr. Tsui has extensive experience in the area of merger and acquisition, financing and listed company corporate actions, and has participated in and played leading roles in a number of deals relating to such areas.