China Galaxy Securities : ANNOUNCEMENT CHANGE OF NON-EXECUTIVE DIRECTORS

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

(Stock code: 06881)

ANNOUNCEMENT

CHANGE OF NON-EXECUTIVE DIRECTORS

The board of directors (the "Board") of China Galaxy Securities Co., Ltd. (the "Company") announces that due to the adjustment of work arrangements, Mr. Zhang Tianli has tendered his resignation as a non- executive director of the Company, and a member of each of the Strategy and Development Committee, the Audit Committee and the Compliance and Risk Management Committee with effect from 22 September 2020. Mr. Zhang Tianli has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Company would like to express its sincere gratitude to Mr. Zhang Tianli for his contributions to the Company during his tenure of office.

The Board further announces that on 22 September 2020, it has considered and approved the proposal in relation to the nomination of Mr. Yang Tijun by China Galaxy Financial Holdings Company Limited, the controlling shareholder of the Company, as a non-executive director of the third session of the Board. The proposal shall be submitted to the shareholders' general meeting of the Company for consideration and approval.

The biographical details of Mr. Yang Tijun are set out below:

Yang Tijun, male, born in June 1966, has been serving as the secretary of the Party Committee and the director of the Liaoning Regulatory Bureau of the Ministry of Finance of the PRC (the "Ministry of Finance"), and the secretary of the Party Committee and the director of the Dalian Regulatory Bureau of the Ministry of Finance since April 2019. From July 1988 to January 1995, Mr. Yang successively served as a staff member and deputy senior staff member of the Division of State-owned Enterprises Administration in the Department of Finance of Jilin Province under the Ministry of Finance. From January 1995 to November 2002, Mr. Yang successively served as a deputy senior staff member and senior staff member of the General Office, the deputy director of the General Division, and the director of the Second Business Division of the Commissioner Office of the Ministry of Finance in Jilin Province. From November 2002 to January 2006, Mr. Yang served as a member of the Party Committee and assistant to the commissioner of the Commissioner Officer of Ministry of Finance in Jilin Province. From January 2006 to August 2012, Mr. Yang served as a member of the Party Committee and the deputy supervision commissioner of the Commissioner Officer of Ministry of Finance in Jilin Province. From August 2012 to August 2015, Mr. Yang served as the secretary of the Party Committee and the

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supervision commissioner of the Commissioner Officer of Ministry of Finance in Gansu Province. From August 2015 to May 2016, Mr. Yang served as the secretary of the Party Committee and the supervision commissioner of the Commissioner Officer of Ministry of Finance in Liaoning Province. From May 2016 to April 2019, Mr. Yang served as the secretary of the Party Committee and the supervision commissioner of the Commissioner Officer of Ministry of Finance in Liaoning Province, and the secretary of the Party Committee and the supervision commissioner of the Commissioner Officer of Ministry of Finance in Dalian. Mr. Yang graduated from the Planning and Statistics Department of Jilin College of Finance and Trade with a bachelor's degree in economics in July 1988, and graduated from the Business School of Jilin University majoring in quantitative economics with a doctorate degree in economics in December 2007. Mr. Yang is a certified public accountant.

Mr. Yang will enter into a letter of appointment with the Company. The term of office of Mr. Yang will commence from the date of approval by the shareholders of the Company at the shareholders' general meeting and end on the expiry of the term of the third session of the Board. He is eligible for reelection upon expiry of his term. Mr. Yang will not receive any director's fee or remuneration from the Company.

Save as disclosed above, Mr. Yang has not held any directorships in other listed public companies in the last three years, does not hold any other position with the Company or any of its subsidiaries, and is not connected with any directors, senior management or substantial or controlling shareholders of the Company. Mr. Yang does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Further, there is nothing in respect of the nomination of Mr. Yang that needs to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, nor is there anything that needs to be brought to the attention of the shareholders of the Company.

By order of the Board

China Galaxy Securities Co., Ltd.

CHEN Gongyan

Chairman and Executive Director

Beijing, the PRC

22 September 2020

As at the date of this announcement, the executive directors of the Company are Mr. CHEN Gongyan (Chairman) and Mr. CHEN Liang (Vice Chairman and President); the non-executive directors are Mr. LIU Dingping, Ms. XIAO Lihong and Ms. WANG Zelan; and the independent non-executive directors are Mr. LIU Ruizhong, Mr. WANG Zhenjun, Ms. LIU Chun and Mr. LAW Cheuk Kin Stephen.

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