Core Points - The CITIC Securities Value Growth Mixed Asset Management Plan will be re-registered as the CITIC Securities Value Growth Mixed Securities Investment Fund starting from September 22, 2025 [1] - The management of the asset management plan will change from CITIC Securities Co., Ltd. to its wholly-owned subsidiary, CITIC Securities Fund Management Co., Ltd. [1] - The full audit report regarding the change of management will be disclosed on the company's website and the China Securities Regulatory Commission's fund electronic disclosure website on October 24, 2025 [1] - Investors can contact the company's customer service for any inquiries [1]

Group 1 - The core announcement is about the change of registration from "CITIC Construction Investment Value Growth Mixed Asset Management Plan" to "CITIC Construction Investment Value Growth Mixed Securities Investment Fund" effective from September 22, 2025 [2][14] - The product manager has changed from "CITIC Construction Investment Securities Co., Ltd." to "CITIC Construction Investment Fund Management Co., Ltd." [3][13] - The product code has been updated, with A class changing from 970016 to 025231 and C class from 970017 to 025232 [4] Group 2 - The product's abbreviated name has changed from "CITIC Construction Investment Value Growth" to "CITIC Construction Investment Value Growth Mixed" [5] - The fund manager has been updated from Zhang Yan to Leng Wenpeng [6] - The product type has shifted from "Mixed Asset Management Plan" to "Mixed Securities Investment Fund" [7] Group 3 - The duration of the product has changed from a fixed term ending on September 30, 2025, to an indefinite term [8] - The sales service fee rate for C class shares has been reduced from 0.80% to 0.60% annually [9] - The auditing firm has changed from KPMG Huazhen to Ernst & Young Huaming [10] Group 4 - The changes were made in accordance with relevant laws and regulations, and the management change does not require a meeting of the fund holders [12][13] - The new fund contract will take effect from the announcement date, and the previous asset management plan contract will be invalidated [14] - The fund management company will announce the specific arrangements for daily subscription and redemption services [15]

Core Viewpoint - The company has successfully registered the change of its asset management plan to a mixed securities investment fund, ensuring the protection of investors' interests and compliance with regulatory requirements [2][3][10]. Group 1: Changes in the Fund Structure - The product name has been changed from "CITIC Jiantou Value Growth Mixed Asset Management Plan" to "CITIC Jiantou Value Growth Mixed Securities Investment Fund" [3]. - The fund manager has been changed from "CITIC Jiantou Securities Co., Ltd." to "CITIC Jiantou Fund Management Co., Ltd." [4]. - The investment manager has been changed from "Zhang Yan" to "Leng Wenpeng" [5]. - The product type has been changed from "mixed asset management plan" to "mixed securities investment fund" [6]. - The product duration has been changed from a fixed term ending on September 30, 2025, to an indefinite duration [7]. - The sales service fee rate for Class C shares has been reduced from 0.80% to 0.60% [8]. - The auditing firm has been changed from "KPMG Huazhen LLP" to "Ernst & Young Hua Ming LLP" [9]. Group 2: Investor Rights and Redemption Arrangements - The company will fulfill its obligations to protect the rights of investors, including a special open period for those who disagree with the changes [11]. - A special open period for redemption will be set from September 8 to September 12, 2025, allowing investors to redeem their shares [12]. - From August 25, 2025, the fund will suspend new subscriptions, and after the special open period, redemptions will also be suspended [13]. - The new fund contract will take effect after the announcement by the new fund manager, and all transactions will be handled by China Securities Depository and Clearing Co., Ltd. [13].

Management Fee Adjustment Plan - The announcement refers to the "fund" as the securities company's collective asset management product that has been modified according to the operational guidelines of the regulatory framework for asset management [1] - The fund will invest in money market instruments, and the estimated net income and annualized yield may fluctuate due to market volatility, allowing the manager to adjust future management fees accordingly [1] Other Important Information - Investors can obtain relevant information through the customer service hotline of CITIC Securities: 4008-888-108 and the website: www.csc108.com [1] - The announcement states that the CITIC Securities Value Growth Mixed Collective Asset Management Plan has suspended subscription and regular investment as of August 22, 2025 [4] - The fund management is committed to managing the assets with integrity and diligence but does not guarantee profits or minimum returns [5]

Core Viewpoint - The article discusses the ongoing transition of brokerage large collective investment products to public offerings, marking the gradual phasing out of these products due to regulatory reforms initiated by the China Securities Regulatory Commission (CSRC) since late 2018 [1][17]. Group 1: Transition to Public Offerings - Several brokerage firms, including Guosen Securities and Guotou Securities, have begun converting their large collective investment products into public fund products, with the process accelerating recently [2]. - The rectification process for brokerage large collective products has been ongoing for nearly seven years, with many products experiencing multiple delays in their transition timelines [15][18]. - The CSRC's guidelines mandated that existing large collective products should complete their public offering transformation by December 31, 2020, but many have not met this deadline and have opted for extensions [17][18]. Group 2: Product Liquidation and Transition to Private Funds - Some large collective products have chosen to liquidate, while others are transitioning to private fund structures, as seen with the "Anxin Asset Management Ru Yuan Tian Li One-Year Holding Period Bond Type Collective Asset Management Plan" [4][6]. - Guotou Securities announced plans to handle the transition of its large collective products in a manner that protects the interests of existing shareholders, including the potential conversion to private asset management plans [5][8]. Group 3: Delays and Extensions - Several firms, including Everbright Securities and CITIC Securities, have announced extensions for their collective investment products, pushing deadlines from mid-2025 to later dates such as November 30, 2025 [10][12]. - The delays in the transition process highlight the challenges faced by brokerage firms in complying with regulatory requirements while ensuring investor interests are safeguarded [18]. Group 4: Management Changes and Public Fund Registration - Brokerage firms are increasingly changing the management of their large collective products to affiliated fund companies to facilitate the transition to public fund status, as seen with multiple firms like CITIC Securities and Guosen Securities [21]. - As of now, 13 brokerage firms have obtained public fund licenses, while others are still in the application process, indicating a competitive landscape for public fund management qualifications [19][20].

Core Viewpoint - Citic Securities Co., Ltd. has decided to extend the duration of the Citic Securities Value Growth Mixed Asset Management Plan until September 30, 2025, to better serve its investors while protecting the interests of existing shareholders [1][2]. Group 1: Extension of Duration - The duration of the Citic Securities Value Growth Plan has been adjusted from June 30, 2025, to September 30, 2025 [1]. - The effective date of the asset management contract and the change in duration is December 7, 2020 [1]. Group 2: Modifications to Contracts and Prospectus - Modifications to the asset management contract and prospectus are in accordance with relevant laws and regulations, and the management has followed the required procedures [2][4]. - The modifications will take effect from the date of this announcement [2]. Group 3: Special Redemption Period - A special redemption period is set from July 1, 2025, to July 10, 2025, during which all types of plan shareholders can submit redemption requests without incurring redemption fees [2]. Group 4: Future Plans for the Fund - The management of the Citic Securities Value Growth Plan will be changed to Citic Securities Fund Management Co., Ltd., pending approval from the China Securities Regulatory Commission [3]. - The company will work closely with Citic Securities Fund to ensure compliance with laws and regulations while protecting the interests of shareholders [3]. Group 5: Additional Information - Investors can access detailed information regarding the asset management contract and prospectus through the company's website [4].