Shenwan Hongyuan (H.K.) Limited announced that on 28 November 2020: Mr. Chen Xiaosheng will resign as Executive Director, Chairman of the Board, Chairman of the Nomination Committee and Chairman of the Executive Committee of the Company; and Mr. Fang Qingli will be appointed as Executive Director, Chairman of the Board, Chairman of the Nomination Committee and Chairman of the Executive Committee of the Company to fill the vacancy arising from the resignation of Mr. Chen Xiaosheng.