CITIC Securities said it was recently informed by its largest shareholder, CITIC Group, that the restructuring proposal of CITIC Group was approved by the Ministry of Finance of the PRC. Pursuant to the restructuring proposal, CITIC Group, together with Beijing CITIC Enterprise Management Co., Ltd. (CITIC Enterprise Management), established CITIC Limited (CITIC) by contributing the substantial majority of its existing net operating assets (including its shares in CITIC Securities).

The shareholding structure of CITIC is as follows: 99.9% of the shares are held by CITIC Group while 0.1% by CITIC Enterprise Management. And in order to fulfill the goal of overall restructuring of CITIC Group, CITIC Group became a wholly state-owned company and its name was changed to CITIC Group Corporation. All the businesses and assets of CITIC Group are borne by CITIC Group Corporation.