China Merchants Securities Co., Ltd. announced that Ms. SHEN Weihua ("Ms. SHEN") has tendered her resignation from her position as an employee representative supervisor of the Company (the "Supervisor") due to change in her work arrangements. As her resignation would result in the number of employee representative Supervisors of the Company being less than one-third of the members of the supervisory committee of the Company (the "Supervisory Committee"), the resignation of Ms. SHEN from her position as an employee representative Supervisor of the Company shall take effect when a new employee representative Supervisor to fill the vacancy arising from Ms. SHEN's resignation is elected by the employees of the Company, prior to which, Ms. SHEN will continue to perform her duty as an employee representative Supervisor of the Company. Ms. SHEN has confirmed that she has no disagreement with the Board and/or the Supervisory Committee and there is no other matter relating to her resignation that needs to be brought to the attention of the shareholders and creditors of the Company.

The resignation of Ms. SHEN will not affect the operation of the Board, the Supervisory Committee and the Company. The Company would like to take this opportunity to extend its sincere gratitude to Ms. SHEN for her valuable contributions to the Company during her tenure of office. The Company will nominate suitable candidate for employee representative Supervisor as soon as practicable, and will make further announcement in due course.