Southwest Securities International Securities Limited announces the following changes: Mr. Wu Jian* (" Mr. Wu "), an executive Director and chairman of the Board ("Chairman"), has tendered his resignation as executive director and chairman with effect from 2 September 2022 due to his other work arrangements. Mr. Zhang Hongwei (" Mr. Zhang "), an executive Director, has been appointed as hairman of the Company with effect from 2 September 2022. Mr. Wu has confirmed that, as at the date of this announcement, he has no disagreement with the Board and is not aware of any matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange").

Mr. Zhang, aged 58, graduated from Chongqing Industrial School and School of Economics and Business Administration, Chongqing University majoring in business administration in 2002. Mr. Zhang was the general manager of the Nanping business department of Chongqing Securities Company and the deputy manager of the securities department of the Nanping branch of Bank of Communications from 1993 to 2000, and the general managers of a number of securities business departments of Southwest Securities Co. Ltd. from 2000 to 2005.

He served successively as the general manager of brokerage business department, the general manager of compliance and risk management department, the general manager of legal compliance department, the general manager of compliance department, the chief anti-money laundering compliance officer, the general manager of risk control department and the chief risk officer at headquarter of Southwest Securities Co. Ltd. from 2005. Mr. Zhang has 30 years of experience in the securities market.

Mr. Zhang has entered into an executive Director director' s service agreement with the Company on 12 April 2022 for a term of three years, subject to retirement by rotation and re-election in accordance with the Bye-laws, which may be terminated by either the Company or Mr. Zhang by giving two months' prior written notice or otherwise in accordance with the terms of the director's service agreement. In accordance with the Bye-laws, Mr. Zhang shall be eligible for re-election at the AGM. Under the director's service agreement, Mr. Zhang does not receive any director emolument from the Company.

The Board expresses its great appreciation to Mr. Wu for his valuable contribution to the Company and also congratulates Mr. Zhang on his new appointment and looks forward to his continuous contribution to the Company's business and development.