China Merchants Securities Co., Ltd. announced that the reference is made to the announcement of the company dated March 31, 2023 in relation to, among others, the resignation of Ms. SU Min (Ms. SU) from her positions as a non-executive Director of the company, a member of each of the Risk Management Committee (chairperson) and the Remuneration and Appraisal Committee under the Board. Following the resignation of Ms. SU, the company did not have any female Director. Pursuant to Rule 13.92 of the Listing Rules, the Hong Kong Stock Exchange will not consider diversity to be achieved for a single gender board.

The Board also hereby announces that the composition of the Risk Management Committee under the Board has changed. Mr. WU Zongmin (an executive Director, and currently a member of the Risk Management Committee under the Board) has been appointed as the chairman of the Risk Management Committee under the Board with effect from May 26, 2023. The Risk Management Committee under the Board shall be made to the composition of the following Directors from May 26, 2023: Mr. WU Zongmin (chairman), Mr. LIU Weiwu, Mr. LI Xiaofei, Mr. LIU Chong and Mr. XIANG Hua.