The Board of directors of Guolian Securities Co., Ltd. announced that, at the meeting of the Board held on 16 May 2016, it has resolved to appoint Mr. Peng Yanbao as the chief executive officer of the company with effect from 16 May 2016 and Mr. Yao Zhiyong ceased to perform the duties of the chief executive officer of the company on the same date. Mr. Peng Yanbao has been the vice president of the company since August 2009 and has been in charge of the asset management department, financial and accounting department and operation management headquarter since March 2015.