CITIC Securities to abolish supervisory board, revamp governance

CITIC Securities has approved revisions to its Articles of Association, Shareholder Meeting Rules, and Board of Directors Meeting Rules, following updated company law and regulatory requirements. The most significant change involves the discontinuation of the supervisory board, with its functions to be assumed by the board's audit committee. Current supervisory board members will no longer hold their positions, and all related supervisory board regulations will be abolished.

The company's eighth board of directors and fourteenth supervisory board meetings, both held on November 7, 2025, approved these proposals for submission to the general meeting of shareholders for approval. The amendments to the Articles of Association require approval from the general meeting of shareholders, as well as the A-share and H-share class meetings. The board has authorized management to make non-substantive textual adjustments to the revised documents and handle the necessary industrial and commercial registration and filing procedures.