The board of directors of China Galaxy Securities Co., Ltd. received a resignation letter from Mr. Liu Feng on 24 January 2018. Mr. Liu Feng tendered his resignation as an independent director of the company, the chairman of the Nomination and Remuneration Committee, and a member of each of the Strategy and Development Committee, the Audit Committee and the Risk Management Committee due to his intention to focus on his other work commitments and engagements.