President Wu Zongmin of China Merchants Securities will retire due to reaching retirement age.

On May 6th, China Merchants Securities announced that the company's president, Wu Zongmin, has reached retirement age. Wu Zongmin has completed the work handover according to the company's regulations, and his departure will not result in the number of board members falling below the legal requirement. The company will promptly complete the selection process for the new directors, president, and authorized representatives in accordance with relevant regulations. During the vacancy of the president, the company's chairman, Huo Da, will temporarily assume the responsibilities of the president.