CITIC BANK (00998): Wholly-owned subsidiary Citic Gold Investment approved to open for business

CITIC BANK (00998) announced that on November 21, 2025, it received the approval from the China Banking and Insurance Regulatory Commission for the establishment of its wholly-owned subsidiary, Xinyin Financial Asset Investment Co., Ltd. (referred to as Xinyin Investment). According to the approval, Xinyin Investment has a registered capital of 10 billion RMB and is registered in Guangzhou, Guangdong Province. Xinyin Investment will proceed with the necessary procedures to start its operations. The approval for Xinyin Investment's establishment is a key measure for CITIC BANK to actively respond to the national call, strongly support the development of "technology finance", and carry out the key tasks of financial development. It is also a crucial part of CITIC BANK's effort to provide comprehensive financial services. Xinyin Investment will focus on strategic emerging industries, "specialization and innovation", and other key areas to conduct market-oriented debt-to-equity swaps and equity investment businesses. It will support science and technology enterprises and private economy, play a role in value discovery in emerging industries and future industries, and enhance the bank's overall operational capability and sustainable development.