The board of directors of the Hengtai Securities Co. Ltd. announced that a meeting of the board was held on 22 April 2020. Change of chief financial officer of the company: Due to work re-allocation of the Company, as Ms. Yang Shufei was appointed as the vice president of the company, she subsequently resigned as the chief financial officer of the company, which shall take effect from 22 April 2020.

The board considered and approved the appointment of Mr. Sun Hang as the chief financial officer of the company, with term of office commencing from 22 April 2020 to the expiry date of the fourth session of the board of the company. The Board considered and approved the appointment of Mr. Liu Zhanjun as the chief compliance officer of the Company, with term of office commencing from 22 April 2020 to the expiry date of the fourth session of the Board of the Company. Mr. Pang Jiemin, Chairman and an executive director of the Company, who stepped up to perform the duties following the resignation of the previous chief compliance officer of the Company, ceased his role as acting chief compliance officer commencing from 22 April 2020.

The company announced Mr. Zhang Wei has resigned as the secretary of the Board of the company due to the work re-arrangement of the Company, which shall take effect from 22 April 2020. Upon his resignation as secretary of the Board of the Company, Mr. Zhang Wei shall continue to hold the position of vice president and joint company secretary of the Company. Mr. Zhang Wei has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company or the Stock Exchange of Hong Kong Limited.

The Board considered and approved the appointment of Mr. Zhang Jingshun as the secretary of the Board of the Company, with term of office commencing from 22 April 2020 to the expiry date of the fourth session of the Board of the Company. Ms. Yang Shufei, aged 46, has been the chief financial officer of the Company from October 2016 to April 2020. Meanwhile, Ms. Yang has served as the chairman of the supervisor committee of New China Fund Management Co.

Ltd. and a supervisor of Hengtai Capital Investment Co. Ltd. since February 2017 and October 2017, respectively. Before joining the Company, Ms. Yang served as a staff member of the management department and fund department of Aerospace Trust Investment Co.

Ltd. from July 1995 to September 2001. From November 2015 to June 2016, Ms. Yang served as the chief financial officer of Huahao Xinlian (Beijing) Kemao Co. Ltd. Mr. Sun served as the chief accountant of China Grains and Oils Group Co.

Ltd. from September 2005 to April 2007, the chief accountant of China National Chemical Corporation Ltd. from April 2007 to March 2017, and the president of CCTEG Financial Leasing Co. Ltd. from April 2017 to May 2019, and has been working for Tianfeng Securities Co. Ltd. since June 2019 and responsible for strategic customer service.

Mr. Liu served as a member of the communist party working group and the deputy banner chief of Alashan Zuoqi People's Government of Inner Mongolia from June 2013 to June 2014. Mr. Liu held positions at the Inner Mongolia Securities Regulatory Bureau of the CSRC from June 2014 to March 2020, and successively served as the deputy director of the institutional supervision department, the director of the office, the director of the institutional supervision department and the director of the inspection department. Mr. Zhang held positions in Tianfeng Securities Co.

Ltd. from May 2018 to April 2020 and successively served as the deputy director of the secretariat of executive committee and the deputy general manager of the operation and management department.