The board of directors of Orient Securities Company Limited received written resignation letter from Mr. Xu Zhimin, who is an independent non-executive director of the. Pursuant to the Rules for Independent Directors of Listed Companies and other relevant regulations, the consecutive term of an independent non-executive director serving in the same listed company shall not exceed six years. Having served for six consecutive years, Mr. Xu Zhiming has tendered to the Board his resignation from the positions of an independent non-executive Director of the fifth session of the Board and a member of the strategic development committee of the Board.

Upon the resignation taking effect, Mr. Xu Zhiming will no longer hold any position in the Company. Given that the resignation of Mr. Xu Zhiming will result in the Company not satisfying the requirement under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited that at least one independent non-executive director of a PRC issuer must be ordinarily resident in Hong Kong, the resignation of Mr. Xu Zhiming will take effect upon the Company electing an independent non-executive Director who meets the above requirement. The Board will nominate a new candidate for independent non-executive Director as soon as possible and put forth the proposal to the Company's general meeting for the election.

Prior to performance of the duties of the new independent non-executive Director, Mr. Xu Zhiming will continue to perform his duties as an independent non-executive Director of the Company and a member of the strategic development committee of the Board.