The board of directors of Ping An Securities Group (Holdings) Limited announced that Mr. Cheung Kam Fai has been appointed as an executive Director and the Chief Executive Officer of the Company as well as member of the Nomination Committee, the Remuneration Committee and the Executive Committee with effect from 27 November 2019. Mr. Cheung was an executive Director of the Company from 23 January 2016 to 6 June 2019, and the managing Director of the Company from 17 August 2016 to 30 November 2017. Mr. Cheung was the managing director of a finance company's China subsidiary before, responsible for promoting the company's business in China.

He has over 19 years of experience in the securities sector and has established extensive networks in the field. Mr. Cheung is a non-executive director of Beng Soon Machinery Holdings Limited. The Board also announces that Mr. Gong Qingli has ceased to be the CEO as well as member of the Nomination Committee, the Remuneration Committee and the Executive Committee with effect from 27 November 2019.