CITIC Securities discontinues supervisory board, revises articles

CITIC Securities announced its revised Articles of Association took effect on December 19, 2025, following approval at shareholder meetings. Concurrently, the company will no longer establish a supervisory board, with the audit committee of the board of directors assuming its functions. Former employee supervisors, Ms. Niu Xuekun and Mr. Yang Liqiang, will no longer serve. The company also elected new executive, non-executive, and independent non-executive directors.

The company's eighth board of directors, whose term was set to expire on December 29, 2025, will postpone its re-election until new directors are approved by shareholders, ensuring continuity. The terms of the board's specialized committees and senior management will also be extended.

Additionally, CITIC Securities closed four fundraising projects: "Development of Capital Intermediary Business", "Increase in Investment in Subsidiaries", "Strengthening Information System Construction", and "Supplementing Other Operating Capital". These projects, originating from A-share and H-share placements in 2022, are now complete. Remaining proceeds of RMB97,214,300, along with interest, will be used to permanently supplement working capital, with issuance expenses covered by the company's own funds.