China ITS subsidiary's wealth management products trigger EGM

From January 1 to September 5, 2025, FOSS, a subsidiary of China ITS, subscribed to wealth management products from CGB, CIB, CITIC, CMB, and CMBC. This included 16 discloseable transactions and one major transaction, specifically the RMB30,000,000 subscription of the 23 May CITIC WMP, which triggered an EGM.

The total outstanding amount for the 23 May CITIC WMP with CITIC reached RMB65,000,000 as of the transaction date. Other discloseable transactions included a CGB Wuhua Tianbao W* product for RMB20,000,000, CIB structured deposits totaling RMB20,000,000, and CMB Dianjin Series structured deposits amounting to RMB20,000,000. CMBC also saw two Juying products, each subscribed for RMB10,000,000.

China ITS noted non-compliance with Listing Rules due to FOSS's oversight and inadequate internal controls. Remedial actions include suspending new purchases as of September 8, 2025, conducting compliance training, and implementing enhanced internal control measures by November 2025.