The board of directors of China Merchants Securities Co., Ltd. announced that Mr. XIAO Houfa, Mr. XIANG Hua, Mr. HU Honggao and Mr. XIONG Wei, the independent non-executive Directors of the Company (the Relevant Directors) will have served as the independent non-executive Directors for six consecutive years on July 12, 2023, July 18, 2023, July 18, 2023 and August 3, 2023, respectively. Pursuant to the Rules for Independent Directors of Listed Companies and other relevant regulations, the consecutive term of an independent director serving in the same listed company shall not exceed six years. All the Relevant Directors have confirmed that, they have no disagreement with the Board and there is no other matter in relation to their resignation that needs to be brought to the attention of the shareholders and creditors of the Company.