The board of directors of Southwest Securities International Securities Limited announced that the following resignation of independent non-executive Director and the changes of the composition of the board committees, all with effect from 14 July 2020. Wu Jun has resigned as an independent non-executive Director due to his decision to devote more time to his other business commitments. Due to Wu's resignation as an independent non-executive Director, he ceased to serve as the chairman of the remuneration committee as well as a member of the nomination committee and the audit committee of the company. Guan Wenwei, an independent non-executive director, has been appointed as the chairman of the remuneration committee of the company.