CITIC BANK (00998) received a notice from the Shanghai Stock Exchange to resume review.

CITIC BANK (00998) issued an announcement regarding the bank's proposal to issue A shares and H shares through a rights issue, extend the validity period of the resolution of the shareholders' meeting for the original shareholders' allocation of shares, and receive a notice of suspension of review from the Shanghai Stock Exchange. The bank announced on October 31, 2024, that, due to Article 60(2) of the "Rules on the Review of Stock Issuance and Listing by the Shanghai Stock Exchange," the bank needs to replace the auditor, PricewaterhouseCoopers Zhongtian Certified Public Accountants LLP, for the allocation of shares to the original A-share shareholders. According to Article 19 of the "Rules on the Review of Stock Issuance and Listing by the Shanghai Stock Exchange," the Shanghai Stock Exchange suspended the review of the bank's issuance and listing of shares to the original A-share shareholders. To ensure the smooth progress of this issuance, the bank has re-engaged KPMG Huazhen Certified Public Accountants LLP as the special auditor for the allocation of shares to the original A-share shareholders. As of now, the bank and related intermediaries have completed all necessary work for the resumption of review. In accordance with the relevant regulations, the bank has applied to the Shanghai Stock Exchange for the resumption of the review of the issuance of shares to the original A-share shareholders. On January 22, 2025, in accordance with Article 19 of the "Rules on the Review of Stock Issuance and Listing by the Shanghai Stock Exchange," the suspension condition has been eliminated, and the Shanghai Stock Exchange has agreed to resume the review of the bank's refinancing business. The issuance of shares to the original A-share shareholders by the bank still needs to be reviewed by the Shanghai Stock Exchange and obtain a decision from the China Securities Regulatory Commission for registration before implementation. The ultimate outcome of the review by the Shanghai Stock Exchange and the decision for registration by the China Securities Regulatory Commission, as well as the timing, are still uncertain. The bank will continue to comply with relevant laws and regulations and the rules of the Shanghai Stock Exchange in a timely manner, based on the progress of this matter, and will fulfill its disclosure obligations. Investors are advised to pay attention to investment risks.