CITIC Securities' 2025 Board of Directors and Special Committees operate efficiently, with standardized procedures for reviewing major matters such as related-party transactions

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China Visit Network Data  On March 26, 2025, China International Communications Net Data Co., Ltd. issued its independent non-executive director’s 2025 annual duty performance report. The report shows that, in 2025, the company’s governance structure operated efficiently and in a standardized manner. During the year, the company held 12 board meetings and 4 shareholders’ meetings (including classified shareholders’ meetings). The special committees under the board—including the audit, remuneration and performance evaluation, nomination, and related-party transaction control committees—held more than 20 meetings in total, and the independent directors’ special meetings were held 4 times. All independent directors diligently performed their duties, attended meetings on time, and conducted careful review and independent voting on each proposal.

The report highlights the company’s deliberation on multiple key matters. In terms of related-party transaction management, the company strictly complied with listing rules and internal regulations. Proposals such as the approval of the 2025 expected daily related-party transactions, the 2024 special audit report on major related-party transactions, and the renewal and signing of a framework agreement for daily related-party transactions with China Citic Group were reviewed and approved by relevant bodies. All related transactions followed standardized approval procedures and disclosure obligations. In terms of financial audits, the company reappointed KPMG Huazhen and KPMG as its audit firms for 2025. In personnel and compensation matters, the board approved the appointment of Yu Xinyong as Chief Information Officer, the additions of Chen Zhiming and Sun Yi as executive committee members, and the appointment of six directors including Zhang Changyi. The board also reviewed and confirmed the remuneration for directors and senior management for 2024. Additionally, the company made corresponding changes to its accounting policies in accordance with regulations from the Ministry of Finance.

In their duty reports, the independent directors confirmed that the decision-making procedures for all major company matters were lawful and compliant, and no situations damaging the interests of the company or all shareholders (especially minority shareholders) were found. They maintain communication with minority shareholders through attending shareholder meetings, participating in earnings presentations, and other methods, and plan to further strengthen on-site research in the future to gain a more comprehensive understanding of the company’s operations, continuously play their supervisory and advisory roles, and safeguard the overall interests of the company.

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