China CITIC Bank dissolves board of supervisors, duties shifted to audit committee

China CITIC Bank Corporation Limited announced it has received approval from the National Financial Regulatory Administration (NFRA) for amendments to its Articles of Association, effective December 16, 2025. This approval follows resolutions passed at the bank's 2025 Second Extraordinary General Meeting, 2025 Third A Shareholders Class Meeting, and 2025 Third H Shareholders Class Meeting held on August 26, 2025. The amended Rules of Procedure of the Shareholders General Meeting and Rules of Procedure of the Board of Directors have also been approved.

A pivotal change approved by the NFRA is the dissolution of the bank's Board of Supervisors. Upon the effective date of the amended Articles of Association, the Board of Supervisors will no longer be established. The duties and powers previously held by the Board of Supervisors will now be exercised by the Audit Committee of the Board of Directors, aligning with the Company Law of the People's Republic of China and relevant regulatory provisions. Consequently, various related corporate governance regulations, including the Rules of Procedure of the Board of Supervisors, will be repealed.

Six supervisors, including Mr. Wei Guobin, Ms. Sun Qixiang, Ms. Li Rong, Mr. Cheng Pusheng, Mr. Zhang Chun, and Ms. Zeng Yufang, have ceased their roles. The bank expressed its sincere appreciation for their diligent contributions during their tenure.