The board of directors of the company announced that it has recently received a letter of resignation from Ms. Yu Fang, the Chief Compliance Officer and Chief Risk Officer of the Company, in which Ms. Yu Fang requested to resign from the position of Chief Compliance Officer given that the requirements on qualifications for chief compliance officers under Article 18 of the Administrative Measures on Compliance of Securities Companies and Securities Investment Fund Management Companies which was promulgated by the China Securities Regulatory Commission and came into force from 1 October 2017, specify that the chief compliance officer of a securities company or fund management company should possess at least ten years' work experience in securities or fund business and pass the competence examination for compliance management personnel held by the Securities Association of China or the Asset Management Association of China and Ms. Yu Fang has less than ten years' experience in securities or fund business. A meeting of the Board was held on 2 November 2017, at which the resignation of Ms. Yu Fang as the Chief Compliance Officer of the Company was approved and it was resolved that following the resignation of Ms. Yu Fang, Mr. Pang Jiemin, the Chairman of the Board and executive director of the Company, shall perform the duties of Chief Compliance Officer for a period of not more than six months, during which the company shall make an effort to identify and appoint a qualified person to fill the vacancy as required under the Administrative Measures on Compliance of Securities Companies and Securities Investment Fund Management Companies. Upon her resignation as Chief Compliance Officer of the Company, Ms. Yu Fang shall continue to hold the position of Chief Risk Officer of the Company. Ms. Yu Fang has confirmed that she has no disagreement with the Board and there are no matters relating her resignation that need to be brought to the attention of the shareholders of the company or The Stock Exchange of Hong Kong Limited.