GF Securities : ANNOUNCEMENT - PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR

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GF SECURITIES CO., LTD.

廣發証券股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1776)

ANNOUNCEMENT

PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Upon the consideration and approval at the Board of Directors meeting of GF Securities Co., Ltd. (the "Company") convened on September 22, 2020, the board of directors of the Company (the "Board") proposed to appoint Mr. Guo Jingyi ("Mr. Guo") as a non-executive director of the Company.

The biography of Mr. Guo is as follows:

Guo Jingyi, male, was born in June 1975. He obtained an on-job postgraduate degree in economics (economic management) and a bachelor's degree in engineering. He is a senior engineer. Mr. Guo has been the Chairman of Zhongshan Public Utilities Group Co., Ltd. ("Zhongshan Public Utilities") (a company listed on the Shenzhen Stock Exchange, stock code: 000685)

since September 2020. His primary working experiences include: an employee of Zhongshan Environmental Protection Engineering Co., Ltd. (中山市環保工程有限公司) from July 1998 to May 2004; manager of Zhongshan Sanxiang Water Supply Co., Ltd. (中山市三鄉供水有限

公司) from May 2004 to May 2008; manager of Zhongshan Water Supply Co., Ltd. Sanxiang branch from May 2008 to August 2008; deputy general manager and managing deputy general manager of Zhongshan Water Supply Co., Ltd. from August 2008 to November 2009; deputy general manager of water business department of Zhongshan Public Utilities and general manager of Zhongshan Water Supply Co., Ltd. from November 2009 to February 2011; deputy general manager of Zhongshan Zhonghui Investment Group Company Limited ("Zhonghui Investment"), deputy general manager of water business department of Zhongshan Public Utilities and general manager of Zhongshan Water Supply Co., Ltd. from February 2011 to July 2011; deputy general manager of Zhonghui Investment from July 2011 to October 2013; general manager of Zhongshan

Transportation Development Group Co., Ltd. from October 2013 to July 2019, during which he served as general manager of Zhongshan Rail Transit Co., Ltd. (中山市軌道交通有限公司) ("Zhongshan Rail Transit") from August 2016 to April 2017, executive director of Zhongshan East Outer Ring Expressway Co., Ltd. (中山市東部外環高速公路有限公司) from November 2016

to February 2017, executive director of Zhongshan Transportation Development Investment Co., Ltd. (中山市交發投資有限公司) from April 2017 to January 2018 and executive director and

general manager of Zhongshan Rail Transit from April 2017 to July 2019; director and general manager of Zhonghui Investment from July 2019 to August 2020. He has been the Chairman of Zhongshan Public Utilities since September 2020.

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For Mr. Guo, there are no circumstances as set out in Rule 3.2.3 of the Guidelines on the Standardized Operation of Companies Listed on the Shenzhen Stock Exchange. Other than the connected relationship with Zhongshan Public Utilities, a shareholder holding more than 5% of the shares of the Company, he does not have any connected relationship with other directors, supervisors or senior management of the Company. Mr. Guo does not hold any shares or other equity securities of the Company. He has not been subject to any penalties imposed by the China Securities Regulatory Commission (the "CSRC") and other relevant authorities or disciplinary sanctions by any stock exchanges. He has not been investigated by judicial authorities due to suspected commission of offences and has not been investigated by the CSRC due to suspected violation of laws and regulations. He does not have any dishonest behaviors and has met the qualifications required by the relevant laws, administrative regulations, departmental rules, normative documents, the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange and other relevant requirements of any stock exchanges.

If appointed, Mr. Guo will enter into a director's service agreement with the Company. His term of office shall not terminate until the expiration of the term of the current Board and he may be re-elected upon expiration of his term of office.

According to the relevant PRC laws and regulations and the Articles of Association of the Company, Mr. Guo shall perform his official duties from the date on which the resolution regarding his appointment as a non-executive director of the Company has been considered and approved at the Company's general meeting. The annual allowances of non-executive directors shall be RMB180,000 (tax inclusive).

To the best knowledge of the directors of the Company and save as disclosed in this announcement, Mr. Guo did not hold any directorships in any public companies, the securities of which are listed on any securities market in Hong Kong or overseas, in the past three years. He does not have any relationships with any directors, supervisors, senior management and substantial shareholders of the Company or any of their respective subsidiaries, nor does he hold any position with the Company or any of its subsidiaries. As at the date of this announcement, Mr. Guo does not hold any interest in the shares of the Company or its associated corporation (within the meaning of Part XV of the Securities and Futures Ordinance of Hong Kong (Chapter 571 of the Laws of Hong Kong)).

Save as disclosed in this announcement, Mr. Guo has confirmed that there is no information which shall be disclosed pursuant to the requirements under Rules 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), nor are there any matters which need to be brought to the attention of the shareholders of the Company.

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The Company will convene an extraordinary general meeting for the purposes of considering and approving (if deemed appropriate) the resolution on electing Mr. Guo as a non-executive director of the Company. A circular and a notice on the extraordinary general meeting will be dispatched to the shareholders of the Company in due course.

By order of the Board

GF Securities Co., Ltd.

Sun Shuming

Chairman

Guangzhou, the PRC

September 22, 2020

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Sun Shuming, Mr. Qin Li and Ms. Sun Xiaoyan as executive Directors; Mr. Li Xiulin and Mr. Shang Shuzhi as non-executive Directors; Mr. Fan Lifu, Mr. Hu Bin, Ms. Leung Shek Ling Olivia and Mr. Li Wenjing as independent non-executive Directors.

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