The board of directors of Guolian Securities Co., Ltd. announced that the company received resignation notice from Mr. Lei Jianhui, executive director, chief executive officer and member of strategy committee on 15 March 2016. The resignation approved by the board of directors of the company, the role of chief executive officer would be temporarily performed by Mr. Yao Zhiyong, an executive director and chairman of the company for a term not exceeding six months with effect from March 16, 2016. Mr. Yao has approximately 21 years of experience in financial industry, including securities and financial investment, and has 15 years of experience in corporate management.

Mr. Yao joined the group in August 1994 and served successively as a sales staff of Huaqiang Company.