Core Viewpoint - China International Capital Corporation (CICC) is a leading investment bank in China, with a strong focus on investment banking, equity sales and trading, and wealth management, facing challenges in profitability and debt levels compared to industry averages [1][3]. Financial Performance - In Q3 2025, CICC reported revenue of 20.761 billion yuan, ranking 6th in the industry, with the top competitor, CITIC Securities, generating 55.815 billion yuan [2]. - The net profit for the same period was 6.565 billion yuan, placing CICC 10th in the industry, while CITIC Securities led with 23.916 billion yuan [2]. Financial Ratios - CICC's debt-to-asset ratio stood at 81.18% in Q3 2025, an increase from 80.24% year-on-year, significantly higher than the industry average of 68.82%, indicating higher debt pressure [3]. - The gross profit margin was reported at 37.01%, up from 23.26% year-on-year, but still below the industry average of 42.78%, suggesting weaker profitability [3]. Executive Compensation - Chairman Chen Liang's compensation for 2024 was 1.438 million yuan, a significant increase of 1.155 million yuan from 2023 [4]. - President Wang Shuguang received 1.659 million yuan in 2024, a decrease of 0.125 million yuan from the previous year [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.11% to 118,500, while the average number of shares held per shareholder increased by 4.28% to 24,700 [5]. - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable changes in shareholdings among the top ten shareholders [5]. Business Highlights - CICC's brokerage business showed strong growth, with the wealth management segment surpassing 120 billion yuan in scale [6]. - Investment banking revenues increased significantly, with 80 IPO projects in the pipeline, ranking 3rd in the industry [6]. - Asset management revenues expanded, and proprietary trading showed impressive growth [6]. - Credit income improved, with margin financing growth leading the market [6].

Core Insights - The establishment of the Sci-Tech Growth Tier is a significant reform aimed at providing crucial financing support for unprofitable but innovative tech companies with substantial R&D investments and promising commercial prospects [1][2] Group 1: Policy and Market Impact - The introduction of the Sci-Tech Growth Tier is seen as a timely and profound measure that aligns with national strategies for technological innovation and the development of new productive forces [1][2] - As of October 28, the Sci-Tech Board has gathered 592 quality tech companies, with a cumulative financing scale exceeding 930 billion yuan [2] Group 2: Support for Innovation - The Sci-Tech Growth Tier enhances the precision of support for tech innovation enterprises by implementing differentiated supervision for unprofitable companies, serving as a "testing ground" for more inclusive policies [3] - It broadens financing channels for companies in the R&D phase, while also providing a clear and efficient exit mechanism for early-stage capital, fostering a positive cycle between technology, industry, and finance [3] Group 3: Investor Protection - The establishment of a special "U" identifier to reveal risks, along with measures to ensure smooth transitions for companies exiting standards, enhances investor protection and market transparency [3] Group 4: Institutional Commitment - The company emphasizes its commitment to supporting hard-tech enterprises with core technologies to achieve rapid development through capital markets, aligning with national goals for financial strength and modernization [4]

◎记者 闫刘梦 近日，科创成长层迎来首批新注册企业，标志着科创板"1+6"改革进一步实质性落地。对此，中金公司 党委副书记、总裁王曙光在接受上海证券报记者专访时表示，科创成长层的设立是推动科技强国建设 的"及时雨"与"加速器"，充分彰显了中国特色现代资本市场服务实体经济高质量发展的使命担当。 王曙光认为，在此背景下，科创成长层的设立，正是资本市场以制度创新响应国家战略的生动实践，是 打通科技、产业与金融循环堵点的关键一招。这一制度为那些"研发投入高、技术壁垒深、盈利周期 长"的硬科技企业架起了通往资本市场的坚实桥梁。 深化资本市场改革的重要里程碑 从资本市场改革全局看，王曙光表示，科创成长层的推出标志着我国多层次资本市场体系实现了历史性 跃升。 在他看来，当众多处于技术攻坚期的前沿科技企业因传统盈利门槛而不得不对A股市场"望而却步"时， 科创成长层精准补上了硬科技企业全生命周期融资链条中的关键一环，不仅定位更加清晰、立意更为高 远，更彰显了资本市场改革的效率与决心。 服务国家战略的关键举措 今年6月，中国证监会正式推出科创板深化改革"1+6"政策体系，设置科创成长层为改革核心举措之一， 为尚未盈利但具备重大技 ...

Core Points - China International Capital Corporation (CICC) announced the election of Wang Shuguang as Vice Chairman and adjustments to the board's specialized committees on October 31, 2025 [1][3][4] - The board meeting was conducted in compliance with relevant laws and regulations, with all nine participating directors voting in favor of the proposals [2][5] - The changes aim to enhance corporate governance and decision-making efficiency, aligning with the company's long-term development needs [6] Meeting Details - The board meeting was convened via written notice, and all directors agreed to waive the notification period [2] - A total of nine directors participated in the voting, confirming the meeting's compliance and validity [2] Election of Vice Chairman - Wang Shuguang was elected as Vice Chairman with unanimous support from the board [3] - His term will last until the end of the current board's tenure, and his position will automatically terminate if he ceases to be a director [3] Adjustment of Specialized Committees - The board approved adjustments to the specialized committees, with Wang Shuguang joining the Strategy and ESG Committee, Compensation Committee, and Risk Control Committee [4] - Tian Ting was also elected to the Strategy and ESG Committee and the Risk Control Committee [4][5] Change of Authorized Representative - The board approved the appointment of Wang Shuguang as the authorized representative under the Hong Kong Stock Exchange Listing Rules [6] - Wang will serve alongside the co-secretary, while the current chairman, Chen Liang, will no longer hold this position [6]

Core Viewpoint - CICC announced the election of Ms. Tian Ting as the employee director during the upcoming employee representative assembly scheduled for October 31, 2025 [2] Group 1 - CICC will hold its third employee representative assembly for the fifth time on October 31, 2025 [2] - Ms. Tian Ting has been nominated for the position of employee director [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China International Capital Corporation Limited 中 國 國 際 金 融 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03908） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中國國際金融股份有限公司（「本公司」）在上海證券交易所網站刊登的《中國國際金 融股份有限公司信息披露管理制度》《中國國際金融股份有限公司投資者關係管理辦法》 《中國國際金融股份有限公司內幕信息知情人登記備案管理制度》《中國國際金融股份有限 公司募集資金管理辦法》及《中國國際金融股份有限公司董事及高級管理人員持有及變動 本公司股份管理辦法》，僅供參閱。 承董事會命 中國國際金融股份有限公司 董事會秘書 孫男 中國，北京 2025年10月31日 於本公告日期，本公司執行董事為陳亮先生及王曙光先生；非執行董事 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China International Capital Corporation Limited 中 國 國 際 金 融 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03908） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中國國際金融股份有限公司（「本公司」）在上海證券交易所網站刊登的本公司第三 屆董事會第十一次會議決議暨選舉副董事長的公告，僅供參閱。 承董事會命 中國國際金融股份有限公司 董事會秘書 孫男 中国国际金融股份有限公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 中国国际金融股份有限公司（以下简称"公司"或"中金公司"）于 2025 年10月31日以书面方式发出第三届董事会第十一次会议（以下简称"本次会议 ...

Core Viewpoint - Kaleit announced a change in its designated sponsor representative for ongoing supervision duties related to its 2022 IPO on the ChiNext board, with the new representatives being Zhang Jianke and Bian Ren [1] Group 1 - China International Capital Corporation (CICC) was the designated sponsor for Kaleit's IPO and will continue to provide ongoing supervision until December 31, 2025 [1] - Yang Guang, the original designated representative, will no longer serve due to personal work changes, effective April 18, 2024 [1] - The ongoing supervision responsibilities will be taken over by Bian Ren, alongside Zhang Jianke, as the new designated representatives [1]

中国国际金融股份有限公司 董事会风险控制委员会工作规则 第二条 风险控制委员会是公司董事会下设的专门工作机构，依照有关法 规、公司章程和董事会授权履行职责，并向董事会报告工作。 第二章 人员构成 第三条 风险控制委员会至少由三名董事组成，设主任委员一名。 主任委员的主要职责如下 ： - 1 - 第一章 总则 第一条 为健全和规范中国国际金融股份有限公司（以下简称公司）董事会风 险控制委员会（以下简称风险控制委员会）的议事和决策程序，提高风险控制委员 会的工作效率和科学决策的水平，根据《中华人民共和国公司法》《中华人民共和国 证券法》《证券公司监督管理条例》《证券公司治理准则》《香港联合交易所有限公司 证券上市规则》等法律、法规、规范性文件、公司股票上市地证券监管部门及证券 交易所的有关规定（以下合称有关法规），以及《中国国际金融股份有限公司章程》 （以下简称公司章程）的规定，并结合公司的实际情况，制定本规则。 （一） 召集风险控制委员会定期会议和临时会议 ； （二） 主持风险控制委员会会议 ； （三） 督促、检查风险控制委员会决议的执行 ； （四） 董事会和风险控制委员会授予的其他职责。 第四条 主任委员及其 ...

中国国际金融股份有限公司 董事会战略与ESG委员会工作规则 第三条 战略与ESG委员会至少由三名董事组成，设主任委员一名。 主任委员的主要职责如下 ： - 1 - （一） 召集战略与ESG委员会定期会议和临时会议 ； （二） 主持战略与ESG委员会会议 ； （三） 督促、检查战略与ESG委员会决议的执行 ； （四） 董事会和战略与ESG委员会授予的其他职责。 第四条 主任委员及其他委员人选由董事会批准。 第五条 委员的任期与董事任期一致，委员任期届满，可连选连任。期间如 有委员不再担任公司董事职务，则自动失去委员资格。战略与ESG委员会委员人 数未满足本工作规则第三条的规定时，董事会应根据公司章程及本规则的规定予 以补足。 第三章 职责 第一章 总则 第一条 为健全和规范中国国际金融股份有限公司（以下简称公司）董事会战 略与ESG委员会（以下简称战略与ESG委员会）的议事和决策程序，提高战略与ESG 委员会的工作效率和科学决策的水平，根据《中华人民共和国公司法》《中华人民共 和国证券法》《证券公司监督管理条例》《证券公司治理准则》《香港联合交易所有限 公司证券上市规则》等法律、法规、规范性文件、公司股票上市地 ...