The Board of Directors of the Hengtai Securities Co. Ltd. announced that Ms. Zhai Chenxi has been appointed as the co-president of the Company at the Board meeting dated 22 November 2019. Her term of office shall take effect from 22 November 2019. Ms. Zhai will be mainly responsible for matters related to the business integration of the Company and assisting the president in respect of the daily operation and management of the Company. Ms. Zhai Chenxi currently serves as the vice president and deputy director of the executive committee of TF Securities Co. Ltd. Ms. Zhai has served as the chairman of the board of directors of Tianfeng International Securities Group Co. Ltd. since May 2016.