Chang Cheng Securities: Appoints Zhou Zhongshan as President and Chief Financial Officer, and Ruan Huixian as Secretary of the Board.

Great Wall Securities announced that the 18th meeting of the Third Board of Directors of the company has approved multiple personnel matters. Zhou Zhongshan was appointed as the President and Chief Financial Officer of the company, while simultaneously removing him from the position of Vice President and Board Secretary. Due to the job adjustment, Zhou Zhongshan will no longer serve as the Board Secretary, and the company has appointed Ruan Huixian as the Board Secretary. Both individuals will serve until the current Board of Directors is re-elected. Zhou Zhongshan previously worked at the Shanghai branch of Industrial and Commercial Bank of China and joined the company in 1998. Ruan Huixian joined the company in 2003. Both individuals currently do not hold any shares of the company, have no related relationships, and there is no situation that prevents them from serving as executives.