CICC trading suspension continues amid proposed merger update

Trading in H shares of China International Capital Corporation (CICC) and several of its notes, including U.S.$500,000,000 5.012% notes due 2027 and U.S.$1,250,000,000 5.493% notes due 2026, remains suspended since November 20, 2025. This suspension is pending confirmation from regulatory authorities regarding compliance requirements for proposed mergers and the release of further announcements.

The company's A shares also halted trading on November 20, 2025, with the halt expected to last no more than 25 trading days. As of December 10, 2025, the proposed mergers are subject to approval by the respective boards of directors and general meetings, as well as competent regulatory authorities.

CICC warns that there is no assurance the proposed mergers will materialize, advising shareholders and potential investors to exercise caution. Discussions with Dongxing Securities and Cinda Securities may or may not result in mergers.