The Board of Shenwan Hongyuan (H.K.) Limited announced that Mr. Chu Xiaoming resigned as Executive Director, chairman of the Board and chairman of the Nomination Committee of the Company; Mr. Zhu Minjie was appointed as Executive Director, chairman of the Board and chairman of the Nomination Committee of the Company to fill the vacancy arising from the resignation of Mr. Chu Xiaoming; and Mr. Chen Xiaosheng was appointed as Executive Director of the company on March 5, 2016. Mr. Chen Xiaosheng currently serves as Assistant to General Manager of Shenwan Hongyuan Securities Co. Ltd. and General Manager of Institutional Business of Shenwan Hongyuan Securities Co.

Ltd. as well as General Manager of SWS Research Co. Ltd. He is also a member of the Board of Supervisors of the Securities Association of China. Mr. Zhu Minjie, aged 50, currently serves as Deputy General Manager of Shenwan Hongyuan Securities Co.

Ltd. Mr. Zhu joined the former Shanghai International Securities Co. Ltd. in 1988 and held various positions. He has over 27 years of experience in the securities industry.

Mr. Chen Xiaosheng, aged 45, currently serves as Assistant to General Manager of Shenwan Hongyuan Securities Co. Ltd. and General Manager of Institutional Business of Shenwan Hongyuan Securities Co. Ltd. as well as General Manager of SWS Research Co.

Ltd. He is also a member of the Board of Supervisors of the Securities Association of China.