Guolian Securities : CHANGE OF EXECUTIVE DIRECTOR, AUTHORIZED REPRESENTATIVE AND APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company established in the People's Republic of China with limited liability)

(Stock Code: 01456)

CHANGE OF EXECUTIVE DIRECTOR, AUTHORIZED REPRESENTATIVE AND APPOINTMENT OF CHIEF EXECUTIVE OFFICER

References are made to the circular (the "Circular") of Guolian Securities Co., Ltd. (the "Company") dated 29 April 2019 and the poll results announcement of the Company dated 13 June 2019, in relation to, among others, the election and appointment of Mr. Ge Xiaobo as an executive Director ("Executive Director") of the fourth session of the Board of the Company and chief executive officer ("Chief Executive Officer") of the Company. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

The Board hereby announces that, on 25 October 2019, the Company has obtained the no objection letter issued by the PRC securities regulatory authority on 23 October 2019, regarding the appointment of Mr. Ge Xiaobo. Pursuant to the above letter, the appointment of Mr. Ge Xiaobo as an Executive Director, the Chief Executive Officer and a member of the Strategy Committee has come into effect on 23 October 2019. At the same time, Mr. Ge Xiaobo was appointed as the authorized representative ("Authorized Representative") of the Company under Rule 3.05 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Therefore, Mr. Peng Yanbao ceased to be an Executive Director, a member of the Strategy Committee and the Authorized Representative, and Mr. Yang Ming ceased to perform his duties of Chief Executive Officer with effect from 23 October 2019.

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The biographical details of Mr. Ge Xiaobo and such other information regarding his appointment are as follows:

Mr. Ge Xiaobo（葛小波）, aged 49, is one of the first batch of sponsor representatives of China. He joined CITIC Securities in 1997, and previously served as the manager and senior manager of the investment banking department, deputy director of the A-Share listing office, deputy general manager and executive general manager of the risk control department, head of the trading and derivatives department, planning and finance department, risk management department, and overseas business and fixed income business, a member of the executive committee, the person-in-charge of accounting affairs and the chief risk officer. Mr. Ge concurrently served as the director of CITIC Securities International, CLSA B.V., China AMC, CITIC Securities Investment and CITIC PE Funds, the chairman of the international strategy committee and the vice chairman of the overseas committee of Securities Association of China. Mr. Ge obtained a bachelor's degree in engineering (majoring in fluid machinery and fluid engineering) in 1994 and a master's degree in business administration (majoring in management engineering) in 1997 from Tsinghua University.

The Company will enter into a service contract with Mr. Ge Xiaobo as soon as possible. The remuneration of Mr. Ge Xiaobo will be determined after considering the recommendations of the Remuneration and Nomination Committee of the Board.

Save as disclosed above, Mr. Ge Xiaobo confirmed that (i) he is not connected with any other Directors, Supervisors, senior management, substantial Shareholders or controlling Shareholders of the Company; (ii) he does not hold any equity interest in the Company as defined under Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong); (iii) he is not in possession of any information that is required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Listing Rules, nor is he being involved or has been involved in any activity that shall be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Listing Rules; (iv) there is no other matter in relation to the appointment that shall be brought to the attention of the Shareholders or the Stock Exchange. Save as disclosed in the biographical details above, Mr. Ge Xiaobo confirmed that he did not hold any directorship in other listed companies in the last three years, nor was he holding any positions in any members of the Group.

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The Company and the Board would like to express their welcome to Mr. Ge Xiaobo for his joining and their sincere gratitude to Mr. Peng Yanbao for his contributions to the Company during his term of office.

By order of the Board

Guolian Securities Co., Ltd.

Yao Zhiyong

Chairman

Wuxi, Jiangsu Province, the PRC

25 October 2019

As of the date of this announcement, the executive director of the Company is Mr. Ge Xiaobo; the non-executive directors of the Company are Mr. Yao Zhiyong, Mr. Hua Weirong, Mr. Zhou Weiping, Mr. Liu Hailin and Mr. Zhang Weigang; and the independent non-executive directors of the Company are Mr. Lu Yuanzhu, Mr. Wu Xingyu and Mr. Chu, Howard Ho Hwa.

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