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GF SECURITIES CO., LTD. 廣發証券股份有限公司 (A joint stock company incorporated in the People’s Republic of with limited liability) (Stock Code: 1776)

ANNOUNCEMENT ON RECEIVING GOVERNMENT SUBSIDIES

I. BASIC INFORMATION ON THE GOVERNMENT SUBSIDIES RECEIVED

In order to provide incentive to GF Securities Co., Ltd. (the “Company”, including the wholly-owned and holding subsidiaries of the Company) for its business contribution and support for regional development, the Company has received a total of RMB1,069.4773 million of various government subsidies since 2020. The various government subsidies received by the Company are listed as follows:

Amount of Government Subsidies Name of (RMB in ten Reasons for Receiving Approval Number the Company thousands) Government Subsidies from the Government

GF Securities 72,790.32 Headquarters Business Notice on Issuing of the Measures Co., Ltd. (廣發証券 Contribution Award, Local for Promotion of the Headquarters 股份有限公司) Government Incentive Funds Economic Development in for Local Branches, etc. Development Zone, Huangpu District, Guangzhou (Sui Kai Guan Ban [2017] No. 6), etc.

GF Securities 20,000.00 Incentive Funds for Notice on Issuing of the Measures for Asset Management Headquarters Corporate Promotion of Headquarters Economic () Development Development in New District Co., Ltd. (廣發証券 (Zhu Heng Xin Ban [2014] No. 33) 資產管理（廣東） 有限公司)

GF Fund Management 9,726.00 Incentive Funds for Notice on Issuing of the Measures for Co., Ltd. (廣發基金 Headquarters Corporate Promotion of Headquarters Economic 管理有限公司) Development Development in Hengqin New District (Zhu Heng Xin Ban [2014] No. 33)

1 Amount of Government Subsidies Name of (RMB in ten Reasons for Receiving Approval Number the Company thousands) Government Subsidies from the Government

GF Futures Co., Ltd. 1,631.94 Business Contribution Award, Notice on Issuing of the Measures (廣發期貨 Special Funds for Financial for Promotion of the Headquarters 有限公司) Industry Development Economic Development in Guangzhou Development Zone, Huangpu District, Guangzhou (Sui Kai Guan Ban [2017] No. 6), Certain Supporting Measures for Accelerating the Development of the Financial Industry in Xi’an (Shi Ban Zi [2017] No. 217), Notice on Issuing of the Support Measures for Accelerating Financial Industry Development in (Zheng Dong Wen [2017] No. 63), Notice on the Application for Relevant Support Policies under the Policies on Promotion of Financial Industry Development in Shinan District

Ruiyuan Capital Asset 1,061.00 Incentive Funds for Notice on Issuing of the Measures for Management Headquarters Corporate Promotion of Headquarters Economic Co., Ltd. (瑞元資本 Development Development in Hengqin New District 管理有限公司) (Zhu Heng Xin Ban [2014] No. 33)

GF Hexin Industry 895.25 Incentive Funds for Promoting Notice on Issuing of the Support Investment the Development of Private Measures for Further Promotion Management Equity Fund Industry of Private Equity Investment Fund Co., Ltd. (廣發合信 Industry Development in Hengqin New 產業投資管理 District (Zhu Heng Xin Ban [2019] No. 有限公司), etc. 1)

2 Amount of Government Subsidies Name of (RMB in ten Reasons for Receiving Approval Number the Company thousands) Government Subsidies from the Government

Guangfa Financial 619.86 Business Contribution Award Notice on Issuing of the Implementation Leasing (Guangdong) for Financial Service Rules of Promotion of Financial Co., Ltd. (廣發 Industry, Special Support Service Industry Supporting Measures 融資租賃（廣東） Funds for Financial in Guangzhou Nansha New District 有限公司) Development, Tax Refund (Pilot Free Trade Zone) (Revised in July 2018)(Sui Nan Kai Jin Rong Fa [2018] No. 5), Implementation Rules for the Development of Financial Leasing Industry of Special Funds for Financial Development in Guangzhou (Sui Jin Rong Han [2019] No. 1122), Notice of the Ministry of Finance and the State Administration of Taxation on Comprehensively Promoting the Pilot Program of the Collection of Value-added Tax in Lieu of Business Tax (Cai Shui [2016] No. 36); Notice of the Ministry of Finance and the State Administration of Taxation on Further Clarifying the Policies on the Deduction of Labor Dispatch Service Fees and Turnpike Tolls (Cai Shui [2016] No. 47), Notice on Issuing of Fund Application Guidelines for the Special Funds for Promotion of High-quality Economic Development in Guangdong Province in 2020 (Retrospective Incentive Project on Promotion of Financial Services Real Economic Development in ) (Yang Jin Han [2020] No. 132)

3 Amount of Government Subsidies Name of (RMB in ten Reasons for Receiving Approval Number the Company thousands) Government Subsidies from the Government

GF Qianhe Investment 223.36 Special Financial Incentive, Notice on Issuing of Certain Measures Co., Ltd. (廣發乾和 Fast Growth Incentive for Accelerating the Cultivation of 投資有限公司), etc. for Small and Medium the Financial Industry Development Enterprises in Huairou District and the Implementation Rules of the Special Support Funds for Promotion of the Financial Industry Development in Huairou District (Revised in 2018) (Huai Fa Gai Fa [2018] No. 23), Notice on Incentive for Acceptance of Sizable Project Application Materials of Small and Medium Enterprises (Industry and Information Technology Bureau of Nanshan District)

II. TYPES OF GOVERNMENT SUBSIDIES AND THE IMPACT ON LISTED COMPANIES

1. TYPES OF GOVERNMENT SUBSIDIES

According to the provisions of the Accounting Standards for Business Enterprises No. 16 – Governmental Grants, government grants related to assets are those obtained for forming long-term assets by purchase, construction or acquisitions in other ways; subsidies related to income are government grants other than those related to assets.

The above-mentioned government subsidies received are all government grants related to income.

2. RECOGNITION AND MEASUREMENT ON SUBSIDIES

According to the provisions of the Accounting Standards for Business Enterprises No. 16 – Governmental Grants, the above-mentioned government subsidies are government grants related to daily operation and are recognized as other income for the current period.

3. IMPACT ON LISTED COMPANIES

The above-mentioned government subsidies received have contributed an increase of the net profit attributable to owners of the Company for the year 2020. The above figures have not been audited. The specific accounting treatment and its impact on the relevant financial information of the Company will be subject to the audit results to be confirmed by its accountants after conducting the annual audit. Investors are hereby reminded of investment risks.

4 III. DOCUMENTS AVAILABLE FOR INSPECTION

1. Notice on Issuing of the Measures for Promotion of the Headquarters Economic Development in Guangzhou Development Zone, Huangpu District, Guangzhou (Sui Kai Guan Ban [2017] No. 6);

2. Notice on Issuing of the Measures for Promotion of Headquarters Economic Development in Hengqin New District (Zhu Heng Xin Ban [2014] No. 33);

3. Certain Supporting Measures for Accelerating the Development of the Financial Industry in Xi’an (Shi Ban Zi [2017] No. 217);

4. Notice on Issuing of the Support Measures for Accelerating Financial Industry Development in Zhengdong New Area (Zheng Dong Wen [2017] No. 63);

5. Notice on the Application for Relevant Support Policies under the Policies on Promotion of Financial Industry Development in Shinan District;

6. Notice on Issuing of the Support Measures for Further Promotion of Private Equity Investment Fund Industry Development in Hengqin New District (Zhu Heng Xin Ban [2019] No. 1);

7. Notice on Issuing of the Implementation Rules of Promotion of Financial Service Industry Supporting Measures in Guangzhou Nansha New District (Pilot Free Trade Zone) (Revised in July 2018) (Sui Nan Kai Jin Rong Fa [2018] No. 5);

8. Implementation Rules for the Development of Financial Leasing Industry of Special Funds for Financial Development in Guangzhou (Sui Jin Rong Han [2019] No. 1122);

9. Notice of the Ministry of Finance and the State Administration of Taxation on Comprehensively Promoting the Pilot Program of the Collection of Value-added Tax in Lieu of Business Tax (Cai Shui [2016] No. 36);

10. Notice of the Ministry of Finance and the State Administration of Taxation on Further Clarifying the Policies on the Deduction of Labor Dispatch Service Fees and Turnpike Tolls (Cai Shui [2016] No. 47);

11. Notice on Issuing of Fund Application Guidelines for the Special Funds for Promotion of High-quality Economic Development in Guangdong Province in 2020 (Retrospective Incentive Project on Promotion of Financial Services Real Economic Development in Yangjiang) (Yang Jin Han [2020] No. 132);

12. Notice on Issuing of Certain Measures for Accelerating the Cultivation of the Financial Industry Development in Huairou District and the Implementation Rules of the Special Support Funds for Promotion of the Financial Industry Development in Huairou District (Revised in 2018) (Huai Fa Gai Fa [2018] No. 23);

5 13. Notice on Incentive for Acceptance of Sizable Project Application Materials of Small and Medium Enterprises (Industry and Information Technology Bureau of Nanshan District); and

14. Proof of bank slips.

By order of the Board of Directors GF Securities Co., Ltd. Sun Shuming Chairman

Guangzhou, the PRC December 24, 2020

As at the date of this announcement, the Board of the Company comprises Mr. Sun Shuming, Mr. Qin Li and Ms. Sun Xiaoyan as executive Directors; Mr. Li Xiulin, Mr. Shang Shuzhi and Mr. Guo Jingyi as non-executive Directors; and Mr. Fan Lifu, Mr. Hu Bin, Ms. Leung Shek Ling Olivia and Mr. Li Wenjing as independent non-executive Directors.

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