Zhejiang Merchant Securities Co., Ltd. Fourth Board of Directors' 43rd Meeting Resolution Announcement

Stock Code: 601878 Stock Short Name: Zeshang Securities Announcement No.: 2026-019

Zeshang Securities Co., Ltd.

Resolution Announcement of the 43rd Meeting of the Fourth Session of the Board of Directors

The board of directors of this company and all of its directors hereby guarantee that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint liability for the authenticity, accuracy, and completeness of the contents.

Zeshang Securities Co., Ltd. (hereinafter referred to as “Zeshang Securities” or “the Company”) held the 43rd meeting of the Fourth Session of the Board of Directors on March 25, 2026 by written notice to all directors; the meeting was held on April 3, 2026 by means of correspondence voting. The meeting should have 9 directors attending; 9 directors attended in person. The convening of the meeting complies with the provisions of the Company Law and the Articles of Association.

After deliberation, the resolutions are as follows:

I. Deliberation and approval of the Proposal on the Appointment of the Company’s Senior Management Personnel

The board of directors of the Company agrees to appoint Ms. Lü Xiaoping as the Company’s Compliance Director, with her term starting from the date on which this meeting of the board of directors is approved until the date on which the term of the current session of the board of directors expires.

Voting results: 9 votes in favor, 0 votes against, 0 votes abstained.

This proposal has been deliberated and approved by the nomination and remuneration committee of the Company’s board of directors.

Notice is hereby given.

Board of Directors of Zeshang Securities Co., Ltd.

April 4, 2026

Stock Code: 601878 Stock Short Name: Zeshang Securities Announcement No.: 2026-020

Zeshang Securities Co., Ltd.

Announcement on Changes to the Company’s Senior Management Personnel

The board of directors of this company and all of its directors hereby guarantee that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume legal liability for the authenticity, accuracy, and completeness of the contents.

Key Information:

● The board of directors of Zeshang Securities Co., Ltd. (hereinafter referred to as “the Company”) has recently received Mr. Xu Xiangjun’s written resignation report. Due to work adjustments, Mr. Xu Xiangjun has applied to resign from the position of the Company’s Compliance Director.

● On April 3, 2026, the Company held the 43rd meeting of the Fourth Session of the Board of Directors, which approved the appointment of Ms. Lü Xiaoping as the Company’s Compliance Director, with her term starting from the date on which the board meeting deliberates and approves the matter and ending on the date on which the term of the current session of the board of directors expires.

I. Details of the Departure of Senior Management Personnel

(I) Basic information on early departure

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(II) Impact on the Company due to the departure

Pursuant to laws and regulations and the Company’s Articles of Association, Mr. Xu Xiangjun’s resignation became effective on April 3, 2026. Mr. Xu Xiangjun has no outstanding public undertakings to be fulfilled, and will complete handover arrangements in accordance with relevant regulations.

II. Details of Changes to Senior Management Personnel

On April 3, 2026, the Company held the 43rd meeting of the Fourth Session of the Board of Directors, at which the meeting deliberated and approved the “Proposal on the Appointment of the Company’s Senior Management Personnel,” appointing Ms. Lü Xiaoping as the Company’s Compliance Director. Ms. Lü Xiaoping has been recognized by the relevant dispatched institutions of the China Securities Regulatory Commission. She has officially assumed her duties from the date on which the board of directors approves the matter, with her term ending on the date on which the term of the current session of the board of directors expires.

Ms. Lü Xiaoping has the professional knowledge, work experience, and relevant qualification conditions required to serve as the Company’s Compliance Director, and there are no circumstances under relevant laws and regulations that prohibit her from serving as a senior management personnel. Ms. Lü Xiaoping does not hold any shares of the Company. There is no related relationship between Ms. Lü Xiaoping and any shareholders holding more than 5% of the Company’s shares, the actual controller, the Company’s other directors, and senior management personnel. She has not been subject to administrative penalties by the China Securities Regulatory Commission and other relevant authorities, nor has she been subject to disciplinary measures by any stock exchange.

Notice is hereby given.

Board of Directors of Zeshang Securities Co., Ltd.

April 4, 2026

Ms. Lü Xiaoping, born in July 1974, Chinese nationality, no permanent right of abode abroad, master’s degree. Previously served as Assistant to the Head of the Research Institute of Founder Securities Co., Ltd., and Deputy General Manager of the Customer Service Center of the Brokerage Business Headquarters. Joined Zeshang Securities in October 2008, and successively held positions including General Manager of the Customer Service Center and Deputy Head of the Research Institute, General Manager of the Wealth Management Center, General Manager of the Institutional Customer Service Headquarters, and Administrative Responsible Person of the Investment Banking Headquarters for SMEs, etc. She currently serves as the Compliance Director of Zeshang Securities.

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