CITIC Securities (CITIC SEC) released its 2025 Annual General Meeting (AGM) circular on 5 June 2026, detailing nine resolutions to be tabled on 26 June 2026 in Beijing.

Key points:

1. Work Report & Remuneration • The Board will present its 2025 work report and seek approval of director remuneration for 2025. • Total pre-tax remuneration for directors reached RMB3.79 million in 2025; three executive directors accounted for RMB3.77 million.

2. Auditor Re-appointment • KPMG Huazhen (PRC) and KPMG Hong Kong are nominated as domestic and international auditors for 2026, with combined fees of RMB3.80 million, unchanged from 2025.

3. 2026 Proprietary Investment Limits • Equity securities and derivatives: capped at 100% of net capital. • Non-equity securities and derivatives: capped at 500% of net capital. • Management is authorised to adjust allocations within these ceilings.

4. 2026 Financing Guarantee Plan • Aggregate guarantee limit: no more than US$78.00 billion equivalent and RMB100 million. – Parent-to-subsidiary guarantees: up to US$6.00 billion. – Inter-subsidiary guarantees: up to US$72.00 billion equivalent and RMB100 million. • Largest beneficiaries include CSI Financial Products, CSI MTN and CITIC Securities Finance (HK).

5. Related-Party Transactions (2026 Estimate) • Renewed three-year framework agreements with CITIC Group cover securities, financial products, leasing and miscellaneous services. • Waiver granted for deposit caps with CITIC-related banks. • Additional transaction caps set with Yuexiu Group entities and six companies where CITIC Securities executives hold positions; individual service-fee caps range from RMB5 million to RMB15 million.

6. Remuneration Policy Update • A revised Remuneration Management System, last overhauled in 2009, will be put to vote.

7. Articles of Association Amendment • Business scope wording will be aligned with the State Administration for Market Regulation’s standardised descriptions following regulatory approval to update licensed activities.

8. Independent Directors’ 2025 Performance Report • Five independent non-executive directors confirmed full attendance at all 2025 board and committee meetings.

9. Senior Management Pay Disclosure • Sixteen senior executives earned a combined RMB20.77 million pre-tax in 2025; highest individual compensation was RMB1.94 million.

The AGM will be held at 09:30 on 26 June 2026, and all resolutions will be decided by poll.