CITIC Telecom renews financial services agreements with connected parties

CITIC Telecom International Holdings Limited announced the renewal of financial services framework agreements with CITIC Bank, China CITIC Bank International, CITIC Finance, and CITIC Finance International for up to three years. These agreements cover deposit, settlement, and credit services.

The deposit services, which are subject to independent shareholder approval, have proposed annual caps of HK$1.6 bn for the period from the effective date to 31 December 2025 and for each of the financial years ending 31 December 2026, 2027, and 2028. Historical maximum daily outstanding balances for deposits were HK$0.7 bn in 2022, HK$1.5 bn in 2023, HK$1.4 bn in 2024, and HK$1.1 bn for the first eight months of 2025.

Settlement services will incur maximum service fees of HK$3m annually for the same periods. Credit services are exempt from annual caps and shareholder approval requirements under Listing Rules, as they are provided on normal commercial terms or better, without security over the Group's assets.