CICC: Exchange of shares for absorption and merger with Dongxing and Xinda Securities is still in progress.

The China Securities Regulatory Commission announced that the company is planning to carry out a stock-for-stock absorption and merger of Dongxing Securities and Xinda Securities, which is expected to constitute a major asset restructuring. The company's A shares will resume trading on December 18, 2025. As of the disclosure date of the announcement, the relevant auditing and other work related to the transaction has not been completed. The company will convene the Board of Directors again to review the relevant proposals and fulfill the subsequent procedures and information disclosure obligations after the work is completed. Approval from the respective board of directors, shareholders' meeting, and regulatory authorities is required for this transaction, and it is uncertain whether approval will be obtained and the timeline. Investors are reminded to pay attention to the risks.