CICC announces major mergers, share issuance, trading resumption

CICC has signed merger agreements with Dongxing Securities and Cinda Securities, proposing to merge by absorption and share-for-share exchange. CICC will issue 0.4373 CICC A shares for every Dongxing A share and 0.5188 CICC A shares for every Cinda A share. In total, CICC will issue 3,096,016,826 CICC A shares upon the mergers becoming unconditional. This transaction will result in CICC's A shares representing approximately 75.97% and H shares 24.03% of its total issued share capital of 7,923,273,694 shares.

The mergers, classified as a major transaction under Hong Kong Listing Rules, require approval by a special resolution from CICC shareholders. Trading in CICC H shares and CICC Notes on the Hong Kong Stock Exchange, and CICC A shares on the SSE, which was suspended on November 20, 2025, is set to resume on December 18, 2025.

Dissenting shareholders will be offered put options. CICC A share dissenters can sell at RMB34.80 per share, and CICC H share dissenters at HK$18.86 per share, subject to adjustments. Similarly, Dongxing A share dissenters can sell at RMB13.13 and Cinda A share dissenters at RMB17.79.