CICC (03908.HK): share-swap absorption merger of Dongxing Securities and Cinda Securities closed on 26 October, all assets, liabilities and outstanding bonds assumed

NewTimeSpace News: CICC (03908.HK) announced that its merger by way of absorption through a share swap of Dongxing Securities Co., Ltd. and Cinda Securities Co., Ltd. — implemented by issuing A shares to all A-share swap shareholders of Dongxing Securities and to all A-share swap shareholders of Cinda Securities — has obtained the approval for registration and the approving reply from the China Securities Regulatory Commission. According to the share swap and absorption merger agreement and the progress of the transaction, the closing date of the merger was 26 October 2026.

According to the announcement, with effect from the closing date, the merged CICC (the surviving company) has succeeded to and taken over all assets, liabilities, businesses, personnel, contracts, qualifications and all other rights and obligations of Dongxing Securities and Cinda Securities. With effect from the closing date, the corporate bonds issued by Dongxing Securities and Cinda Securities as issuers that remain outstanding are assumed by the surviving company, and the obligor of such bonds has changed from Dongxing Securities and Cinda Securities to the surviving company.

The announcement stated that during the outstanding period of the bonds, the surviving company will, in accordance with the original terms and conditions, diligently perform its obligations as issuer, including information disclosure, repayment of principal and payment of interest. The bond succession is a normal arrangement in connection with the merger and will not have a material adverse effect on the Company's production and operations, financial position or debt servicing capability.