China CITIC Financial Asset Management Co., Ltd. (2799) disclosed that its board of directors approved the nomination of Mr. Xiang Xianchun as a non-executive director on November 7, 2025, subject to shareholder approval and qualification clearance by the National Financial Regulatory Administration. His term will be three years, with eligibility for re-election upon expiration. Mr. Xiang, aged 56, has served in various roles at the Ministry of Finance, including director of the asset management department, and currently holds the position of second-level inspector of that department. According to the announcement, he will not receive remuneration from the company.

In addition, amendments to the Articles of Association were proposed to strengthen corporate governance. These changes include adjusting the governance structure, expanding provisions on Party building, dissolving the Board of Supervisors, and redefining the roles and procedures of both the shareholders’ meeting and the board of directors. Conforming revisions to the Rules of Procedures of the Shareholders’ General Meeting and the Rules of Procedures of the Board of Directors were also introduced.

The proposed amendments have been approved by the board but remain subject to shareholder consideration. Following shareholder approval, the revised Articles of Association require confirmation by the National Financial Regulatory Administration before coming into effect. The updated Rules of Procedures of the Shareholders’ General Meeting and those of the Board of Directors will become effective on the same date as the amended Articles of Association.

A circular containing additional details and the meeting notice will be published in due course.