Orient Securities : ANNOUNCEMENT ON ELECTION OF NON-EXECUTIVE DIRECTOR (EMPLOYEE REPRESENTATIVE DIRECTOR)

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company 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 company incorporated in the People's Republic of China with limited liability under the Chinese corporate name "東方證券股份有限公司" and carrying on business

in Hong Kong as "東方證券" (in Chinese) and "DFZQ" (in English))

(Stock Code: 03958)

ANNOUNCEMENT ON ELECTION OF NON-EXECUTIVE DIRECTOR

(EMPLOYEE REPRESENTATIVE DIRECTOR)

Reference is made to the announcement of 東方證券股份有限公司 (the "Company") on February 14, 2020 in relation to the resignation of non-executive director (employee representative director) and senior management member of the Company. The board of directors (the "Board") of the Company received the written resignation letter from Mr. DU Weihua, a non-executive director (employee representative director) of the Company on February 14, 2020. Due to work adjustment, Mr. DU Weihua applied to resign as a non-executive director (employee representative director) and several other positions of the Company and his resignation shall take effect upon the receipt of the resignation letter by the Board.

In accordance with the requirements of the Company Law of the People's Republic of China and the articles of association (the "Articles of Association") of the Company, the Company held the seventh joint meeting of the third session of the employee congress via correspondence on February 14, 2020, in which Mr. CHEN Xiaobo ("Mr. CHEN") was elected as a non-executive director (employee representative director) of the fourth session of the board of directors of the Company with a term the same as that of the fourth session of the board of directors of the Company and will perform his duties when his qualification of being a director is approved by the China Securities Regulatory Commission (the "CSRC").

The biographical details of Mr. CHEN are set out below:

Mr. Chen Xiaobo, born in 1973, is a member of the Communist Party of China and holds a bachelor's degree in international economics. Currently, he is the director of the Party Committee Office of the Company. He served as a clerk in the Trust and Securities Department ( 信 託 證 券 部) of Shanghai Pudong Development Bank from July 1995 to March 1998; the secretary and assistant to the director of the office of the Company from March 1998 to November 2003; the deputy director of the Company's Party Committee Office (formerly the party-mass work department) from November 2003 to March 2012 and the director of the Company's Party Committee Office since March 2012.

- 1 -

As at the date of this announcement and as far as the Board is aware, save as disclosed in this announcement, Mr. CHEN has not held any directorship in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years. As at the date of this announcement, save as disclosed in this announcement, Mr. CHEN does not have other relationship with any directors, supervisors, senior management or substantial shareholders of the Company. Mr. CHEN does not have any interest in the shares of the Company or its associated companies within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed in this announcement, there is no other information in relation to the appointment of Mr. CHEN which is required to be disclosed pursuant to the requirements set out in Rules 13.51(2) (h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited nor are there any matters which need to be brought to the attention of the shareholders of the Company. Mr. CHEN has not been penalized by the CSRC or other relevant departments or stock exchanges.

As at the date of this announcement, the Company has not entered into service contract with Mr. CHEN in terms of his position of the non-executive director (employee representative director). The remuneration of Mr. CHEN will be determined in accordance with the remuneration and assessment system of the Company.

By order of the Board of Directors

PAN Xinjun

Chairman

Shanghai, PRC

February 14, 2020

As at the date of this announcement, the Board of Directors comprises Mr. PAN Xinjun and Mr. JIN Wenzhong as executive Directors; Mr. LIU Wei, Mr. WU Junhao, Mr. CHEN Bin, Mr. LI Xiang, Ms. XIA Jinghan and Mr. XU Jianguo as non-executive Directors; and Mr. XU Guoxiang, Mr. TAO Xiuming, Mr. WEI Anning, Mr. XU Zhiming and Mr. JIN Qinglu as independent non-executive Directors.

- 2 -