CITIC Securities to renew connected deals, announces board changes

CITIC Securities will renew its Securities and Financial Products Transactions and Services Framework Agreement, Miscellaneous Services Framework Agreement, and Property Leasing Framework Agreement with CITIC Group and its associates for three financial years, from January 1, 2026, to December 31, 2028. These renewals, which involve proposed annual caps and maximum daily balances, are subject to independent shareholders' approval for specific transactions and reporting requirements under Hong Kong Listing Rules. CITIC Financial Holdings, holding 19.84% in CITIC Securities, and CITIC Group, an associate, are deemed connected persons.

The company also announced board changes. Mr. ZHANG Lin has resigned as a non-executive director due to work adjustments. In conjunction, the board proposed appointing Mr. ZHANG Changyi as an executive director; Ms. LI Yi, Mr. LIANG Dan, and Mr. ZHANG Xuejun as non-executive directors; and Mr. LIU Qiao and Ms. LI Lanbing as independent non-executive directors. These appointments are subject to resolutions at the 2025 First Extraordinary General Meeting.

The continuing connected transactions are expected to provide cost synergies and deepen operational understanding between the group and CITIC Group, fostering business growth. The independent board committee and Somerley Capital Limited will advise shareholders on the proposed terms and caps.