China Cinda Asset Mgmt Co Ltd

CICC announced on the evening of September 22 that, following publication of the results of the A-share dissenting shareholder purchase right applications for the major asset restructuring by share swap absorption merger, and upon application to the Shanghai Stock Exchange, the company's A-shares will resume trading from market open on September 23, 2026. The record date for the purchase right was September 14, 2026, and the application period ran from September 15 to September 17, 2026. During the application period, a total of 1,950 securities accounts submitted applications, covering 10.93 million shares. After excluding invalid applications, 1,084 A-share dissenting shareholder securities accounts submitted valid applications, covering 7.32 million shares. Earlier, on September 7, the China Securities Regulatory Commission approved CICC's share swap absorption merger with Dongxing Securities and Cinda Securities, approved China Orient Asset Management becoming a major shareholder of CICC with 637 million shares, representing 8.03 percent of the post-issuance total share capital, and approved China Cinda Asset Management becoming a major shareholder with 1.329 billion shares, representing 16.76 percent of the post-issuance total share capital. The commission also required CICC to formulate and submit a detailed integration plan within one year. In this transaction, the A-share swap price for CICC is 36.68 yuan per share, for Dongxing Securities 16.05 yuan per share, and for Cinda Securities 19.11 yuan per share. The swap ratio of Dongxing Securities to CICC is 1 to 0.4376, and the swap ratio of Cinda Securities to CICC is 1 to 0.5210. After completion of the absorption merger, Dongxing Securities and Cinda Securities will be dissolved in accordance with the law, and their former branches will be converted into CICC branches. After the merger, CICC's total assets will exceed 1 trillion yuan, net profit attributable to shareholders of the parent company will exceed 10 billion yuan, and revenue will rise to third place in the industry. In the first half of this year, CICC achieved operating revenue of 19.302 billion yuan, up 50.47 percent year on year, and net profit of 8.199 billion yuan, up 89.35 percent year on year. As of June 30, 2026, total assets reached 997.15 billion yuan.

The China Securities Regulatory Commission has formally approved CICC's absorption merger with Dongxing Securities and Cinda Securities, clearing CICC's registration application to issue 3,104,121,159 new shares to absorb the two brokerages. Upon completion of the merger, Dongxing Securities and Cinda Securities will be dissolved in accordance with the law, and their existing branches will be converted into CICC branches. The approval also endorses Orient Asset Management becoming a major shareholder of CICC, raising no objection to Orient Asset Management lawfully acquiring 636,533,171 CICC shares, representing 8.03 percent of CICC's total post-issuance share capital. It also endorses Cinda Asset Management becoming a major shareholder of CICC, raising no objection to Cinda Asset Management lawfully acquiring 1,329,279,400 CICC shares, representing 16.76 percent of CICC's total post-issuance share capital. In addition, the CSRC has approved CICC becoming the major shareholder of Dongxing Fund and Cinda Australia Fund, and approved the controlling shareholder of Dongxing Futures and Cinda Futures being changed to CICC, with a 100 percent shareholding.