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2017 CICC Annual Results Presentation

March 2018

1

Section I Operating Environment 2 1

Section III Business Highlights 9 3

Section II Financial Performance 5 2

Table of Contents

Section IV Strategic Updates 22 4

2

Section I

Operating Environment

3

Market: A-Share Market Positive Return, HK Market Strong

Performance

90

100

110

120

130

12/31 01/31 02/28 03/31 04/30 05/31 06/30 07/31 08/31 09/30 10/31 11/30 12/31

SSE index

Hang Seng SOE index

S&P500

MSCI Global

17FY

+6.6%

+24.6%

+19.4%

+20.1%

567.7

501.1

2016 2017

-12% 66.9

88.2

2016 2017

+32%

40% 60%

60% 40%

42 41

2016 2017

IPO FO

-1%

5,201

4,534

2016 2017

-13%

136

248

2016 2017

+82%

11% 2%

77%

74%

11%

24%

1,432

915

2016 2017IPO FO Preferred shares

-36%

+34%

-39% +50%

-34%

-88%

A-share Equity Capital-raising Plunged due to Tightened

Regulation on Follow-ons; HK Equity Capital-raising Flat

Domestic Debt Capital-raising Declined; Overseas Debt

Capital-raising by Chinese Issuers Sharply Increased

Global Major Indices Rallied; A-share Market

Underperformed December 31 2016=100

A-share ADTV Slid Further; HK Stock Market Heated Up

Domestic Credit Bond Offerings

Underwritten by Securities Firms

PRC-based Overseas

Debt Capital-raising

Source: Bloomberg, MSCI index excluding emerging markets Source: SSE&SZSE

HKD bn RMB bn

RMB bn USD bn

A-share Equity Capital-raising HK Equity Capital-raising

Source: Wind & Dealogic

Source: Wind & Dealogic

USD bn RMB bn

A-share Market ADTV HK Stock Market ADTV

4

IB 17%

Brokerage 61%

Prop 14%

AM 8%

Industry: Operating Income and Profit Down Single Digit

Operating Income Down 5% YoY IB and Brokerage Income Declined on Market Weakness

Net Profit Down 8% YoY; ROE Slid to 6.5% Net Assets Expanded; Leverage Still Low but Slightly

Moved Up

IB 13%

Brokerage 57%

Prop 22%

AM 8%

Revenue: 86

Change: +51%

Revenue: 51

Change: -26%

Revenue: 223

Change: -8%

2017

311

Revenue: 31

Change: +5%

2016

328

245

123 113

20.6%

8.0% 6.5%

2015 2016 2017

Net Profit ROE

-8%

1,452 1,644

1,849

3.00 2.65 2.75

2015 2016 2017

Net assets Leverage

+13%

575

328 311

2015 2016 2017

Revenue

-5%

Source: Securities Association of China

RMB bn RMB bn

RMB bn

Source: Securities Association of China Source: Securities Association of China

Note: Accounts payable to clients have been deducted in calculating the leverage ratio

RMB bn

Source: Securities Association of China

IB=underwriting & sponsorship +financial advisory; Brokerage=purchase/sale of securities on behalf of clients +interest income from (client deposit+

margin finance +stock-pledged repo)+sale of financial assets on behalf of clients + investment advisory; Prop trading= investment gain + profit & loss

through change of fair value; AM = asset management on behalf of clients

5

Section II

Financial Performance

6

CICC Significantly Outperformed

Group Revenue Grew 71% YoY; CICC Standalone Grew

26% YoY Group Net Profit Grew 52% YoY; ROE Stood at 8.8%

Group Total Expenses Increased 76% YoY; Operating

Expense Ratio Down to 50.1% %

Note：Operating expenses ratio=IFRS-reported operating expenses/revenue + other income of our Group;

Total expenses= operating expense +fee and commission expenses + interest expenses

57.6% 56.4%

50.1%

2015 2016 2017

Operating Expenses Ratio

2,766

1,820

0.76 0.76

(0.30)

0.20

0.70

1.20

1.70

(2,000.0)

(1,500.0)

(1,000.0)

(500.0)

0.0

500.0

1,000.0

1,500.0

2,000.0

2,500.0

3,000.0

17Q1 17Q2 17Q3 17Q4 16Q4

Net Profit Attributable to Shareholders EPS

—

17vs.16

+52%

2016

9,507 8,941 11,229

4,112

15,260

2015 2016 2017

CICC CISC

+71%

+26%

1,953 1,820 2,258

477

2,766

20.4% 10.7% 8.8%

2015 2016 2017

CICC CISC ROE

+52%

+24%

8,368

3,466

6,667

11,730

2016 2017

CICC CISC

+76%

+26%

RMB mn

Earnings Momentum Healthy; EPS Back to the Pre-CISC

Level

RMB mn RMB/Share

Note: Net profit refers to profit attributable to the shareholders / other equity holders of the

Company for the year

RMB mn RMB mn

Note: Group revenue refers to revenue and other income of our Group. Differences due to

reconciliation in consolidated financials (applied to net profit and total expenses)

7

18,948

44,836 6,178

26,006

25,127

70,842

2016 2017Short-term Debts Long-term Debts

+182%

84,556

190,465 17,392

47,347

101,948

237,812

2016 2017

Client assets Adjusted total assets

19,651 34,787

64,905

155,678 84,556

190,465

2016 2017

Financial Assets Cash Balance and Others

Balance Sheet Expanded, Driven by Strong Growth in Client

Business

Group Total Assets Grew 133% Adjusted Total Assets Substantially Increased, Mainly in

Financial Assets

+125%

+140%

+77%

Majority of Debts in Long-term Leverage Ratio Rose to 5.2x, Driven by CICC

Note：Net assets refer to equity attributable to shareholder/equity holders of our Company.

Accounts payable to brokerage clients have been deducted in calculating the leverage ratio.

+133%

+125%

18,447

36,707

4.6 5.2

2016 2017Net assets Leverage

+99%

RMB mn RMB mn

RMB mn RMB mn

Note: Financial assets = financial assets measured at fair value through profit or loss +financial assets

under repurchase agreements + funds out-financed + derivatives + financial assets available for sale

8

2,676

18,278

2,696

20,955

413%

273%

2016 2017

CICC Domestic Margin Balance CISC Domestic Margin Balance Group Value to Loan Ratio

+677%

81

180

47

106

1.74 1.70

(0.50)

-

0.50

1.00

1.50

0

50

100

150

200

2016 2017Adjusted Current Assets Adjusted Current Liabilities

Adjusted Liquidity Ratio

37.4 31.9 38.2 34.4 48.9

63.7

46.5

65.5 71.6 10.4

10.7 11.1 13.2

13.1

14.5

13.6

17.1 15.1

29.7 29.0 31.7

47.8 42.6

49.3 41.3

55.3

72.4

60.5

77.1 83.3

1701 1702 1703 1704 1705 1706 1707 1708 1709 1710 1711 1712

CICC CISC

Our Group Adhered to Leading Risk Control and Financial

Management Practices

月度总投资组合的风险价值保持在总限额之下 Group Margin Finance Value to Loan Ratio Reflected

CISC

Adjusted Liquidity Ratio Remained Strong Key Regulatory Indicators Stayed Healthy

Monthly Ending VaR of Investment Portfolio Kept Below

Limit

VaR Limit of the Total Investment Portfolio: RMB100 mn

Note: VaR of the Group(including CISC) total portfolio hit RMB83.6 mn the highest for 2017

2016 2017 Alarming Line Regulatory Line

Net capital / net assets 84.1% 57.5% ≥24% ≥20%

Risk reserve coverage ratio 144.9% 137.2% ≥120% ≥100%

Liquidity coverage ratio 227.3% 354.8% ≥120% ≥100%

NSFR 130.3% 129.4% ≥120% ≥100%

Capital leverage ratio 14.8% 10.4% ≥9.6% ≥8%

Equity position / net capital 46.9% 51.2% ≤80% ≤100%

Non-equity position / net capital 242.9% 269.9% ≤400% ≤500%

RMB mn

RMB bn

Note: Adjusted liquidity ratio = (current assets –accounts payable to brokerage

clients)/(current liabilities – accounts payable to brokerage clients)

RMB mn

Note: CICC&CISC Domestic Margin Balance from Wind

9

Section III

Business Highlights

10

Business Highlights

Leading Franchise in Traditional Business

Business Diversification and Upgrade Resulting in Superior Performance

Success in Transition Toward Balance Sheet-based Services

WM and IM Platforms Significantly Enhanced

Leading and Influential Research

Integration with CISC in Smooth Progress

2

1

3

4

5

6

Shareholding Structure and Business Mix Optimized through Strategic M&As 8

Development of Middle and Back Offices 7

11

Highlight 1: Business Diversification and Upgrade Resulting

in Superior Performance Major Business Lines Maintained Market Leadership, with Business Scale Expanding Steadily

IB 17%

EQ 19%

FICC 12%

WM 11% IM

12%

CISC 27%

Others 2%

2017

RMB15,260

mn

No.1 underwriter for global IPOs by Chinese issuers

No.1 underwriter for A-share equity capital-raising

No.2 for HK IPOs, No.4 for US IPOs of China-concept

issuers

No.1 underwriter among domestic securities firms for

overseas investment grade USD bond offerings by

Chinese issuers

No.1 financial advisor for PRC-based M&As

Domestic / overseas trading market share improved;

leading market share in Stock Connect business and

leading coverage over major institutional clients; a

premium commission rate above market average,

revenue contribution from product sales up to 50%

Prudently captured market windows with effective

risk management to deliver solid returns

Client service capability significantly enhanced,

with strong growth in client business, structured

products, commodity-linked products and ABS

businesses

AUM of traditional asset management1 of our Group

exceeded RMB340 billion, with nearly 700 products under

management, majority actively-managed products

CICC Capital formally established. Total size of private

equity assets solely-managed and co-managed by our

Group exceeded RMB250 billion.

C.a. 39,000 HNW customers with total assets of over

RMB700 billion, or > RMB19 million per customer

Improving market share in A-share trading market share,

and steady growth of product sales volume

Revenue mix optimized, with 60% from non-commission

income

IB

Equities

WM

FICC

IM

Posted total revenue of RMB4.11 billion and net

profit of RMB477 million in April - December 2017

Approximately 340,000 wealthy customers,

with total assets exceeding RMB270 billion

CISC

Note 1: AUM of traditional AM including Asset Management and Mutual Fund

Note 2: All in RMB

12

191

237

2016 2017Domestic Overseas

124

97

2016 2017

Domestic Overseas

Highlight 2: Leading Franchise in Traditional Business

No. Player Share

1 CICC 11.7%

2 China

Securities 8.8%

3 CITICS 8.2%

4 GTJA 7.8%

5 HTSC 5.0%

-21%

+13%

-50%

No. Player Share

1 CICC 15.9%

2 MS 10.8%

3 GS 8.1%

4 Citi 7.7%

5 UBS 7.5%

46%

54%

+24%

+23%

+31%

17%

63%

90% 20%

10%

63

105

2016 2017

IPOs Follow-ons Preference Shares

+66% -20%

+139%

66%

34%

87%

13%

M&A: Top Advisor to Chinese Companies by Advising on

Deals of Approximately USD100 billion

A-share: No.1 Underwriter for Equity Capital-raising

Debt: Total Underwriting Size Increased; Leadership in

Offshore Debt Capital-raising by Chinese Issuers

0.8

1.6

2016 2017IPOs Follow-ons

Source：Dealogic; JBR

+109%

+29%

39%

No. Player Share

1 CMBI 6.2%

2 CICC 5.8%

3 CMS 5.7%

4 CCBI 5.6%

5 ABCI 4.9% 100%

Hong Kong Equity: 2nd Place for HK IPOs

88%

12%

No. Player Share

1 CICC 2.2%

2 Haitong 1.1%

3 CMS 0.9%

4 GTJA 0.9%

5 CITICS 0.9%

61%

RMB bn USD bn

Source: Wind

Total Underwriting Amount Total Underwriting Amount

RMB bn

Source: Wind, Company Information, Bloomberg

USD bn

Source: Dealogic, by date of announcement

Total Deal Size Total Underwriting Amount 2017 PRC-based M&A League

Table 2017 PRC-based USD Bond

Underwriting League Table

2017 A-share Capital-raising

League Table

2017 Hong Kong IPO League

Table

13

Highlight 2: Leading Franchise in Traditional Business

(Cont’d)

Milestone Transactions in 2017

Cross-

border

M&A

SOE

Reform

Emerging

Industry

Equity

Capital-

raising

Honors and

Awards in 2017

Best Investment

Bank in China

Best Corporate and

Institutional Bank –

Domestic

Best Equity Adviser

Best Investment Bank –

Offshore

Debt

Capital-

raising

Mixed ownership reform

The first pilot state-owned group

company to adopt wholistic mixed

ownership reform; The largest

ever A-share refinancing deal

RMB 74.7billion

GLP SGD16.1bn

Privatization

Sovereign bonds

US$ 2.0 billion

The country’s first sovereign

bond issuance in 13 years

The largest SOE reform in

terms of asset size

since the “18th CPC National

Congress”

Ownership Reform

RMB29.3 billion

Initial Public Offering on NYSE

The largest U.S. IPO by a

Chinese company in 2017

US$ 1.04 billion HK$ 3.07billion

The largest Hong Kong IPO

by Taiwanese company

since 2008

Initial Public Offering on NYSE

US$ 0.67 billion

The second largest IPO for

US listed Chinese

companies YTD2017

HK$ 9.57 billion

The largest ever global

IPO in the online

literature industry

US$ 1.75 billion US$ 0.61 billion

Initial Public Offering on HKSE

Senior convertible bond

EUR365 million

The only outstanding offshore

convertible bond in the market

issued by Chinese companies

under the EUR structure

Senior unsecured bond

US$ 0.5 billion

Highest international rating

achieved among all the rated

companies within Jiangsu

Province to date

The first 10-year USD bond

issued by enterprises in

Sichuan Province

Reg S Senior unsecured

fixed-rate bond

US$ 0.3 billion

USD Bond

US$ 0.7/0.8 billion

The largest ever offshore bond

issued by any Chinese

insurance company

Financial bond

RMB50 billion

The largest financial

bond offered in China in

2017

Mixed ownership reform

RMB 31 billion

Merger via share swap and

wholistic listing of Huabei Highway

and China Merchants Expressway

RMB4.5 billion

Merge via share swap

HKD 34.4 billion

The largest merger via share

swap of listed

companies in the Hong Kong

stock market in 2017

The only A-share listing by an

expressway company since 2010

First major FinTech

listing in Hong Kong The first IPO of E-sports

sector globally to date

US$3.1 billion/US1.2 billion

Acquisition of C&A from Rio

Tinto/establishment of a joint venture to

operate Hunter Valley Operations

(“HVO”), a core asset of C&A, with

Glencore by Yancoal Australia

The largest private equity

acquisition and the largest

privatization in Asian market

ZMJ acquisition of Bosch

Starter and Genrator business

for EURO 550 million

Grandland Holdings acquisition

of 100% of Permasteelisa for

EURO 467 million

Acquisition of Esaote by

Yunfeng Capital,

Wandong Medical

Technology for EURO 250

million

Best M&A Investment Bank

Best IPO Investment Bank

First SOE mixed ownership

reform after 2017Central

Economic Conference

Initial Public Offering on HKSE Initial Public Offering on HKSE Initial Public Offering on HKSE

14

1,396 1,448

834

1,492

2,230

2,940

2016 2017

Fee and Commission Income Other Income

+32%

Highlight 3：Success in Transition Toward Balance Sheet-

based Services

Equities: Revenue Structure Further Optimized

Institutional Coverage Expanding; Leadership in Stock

Connect Market

Enjoyed a Premium Commission Rate Above Industry

Average

188 193

2016 2017

+3%

Bps

3.8 3.4

5.2 4.8

0

1

2

3

4

5

6

2016 2017

Market Average Commission Rate CICC Commission Rate

2016 2017

SH-HK stock connect

HK stock connect from SH

SZ-HK stock connect

HK stock connect from SZ

SH/SZ-HK Stock Connect

Market Share

Equities Business Highlights

• Over RMB140 billion of client

assets running on PB platform

• Top market share in the OTC

derivatives market

Product Business Growing

• “Best Overall Sales Services”

by Asiamoney

• “Best Sales Team (Mainland

China/International)” by

Institutional Investors

• “Best Broker of Shanghai-

Hong Kong Connect and

Shenzhen-Hong Kong

Connect ” by Institutional

Investor CHINA.com

Leading Franchise • Leading Stock Connect

market share

• Coverage over Hong Kong

trading accounts for a majority

of fund and insurance clients

Cross-border Strengths Solidified

Integrated

Financial

Service

Platform

51%

49%

37%

63%

#

QFII/RQFII Accounts

Best Broker of Shanghai-

Hong Kong Connect

Best Broker of Shenzhen-

Hong Kong Connect

Top SPSA Participation

Broker Award

RMB mn

15

543

1,446 496

439

1,039

1,885

2016 2017

Investment gains Others

+81%

Highlight 3：Success in Transition Toward Balance Sheet-

based Services (Cont’d)

FICC Enjoyed Strong Growth in Client Business Diversification of FICC Product / Service Offerings

FI Trading Position Increased, Driven by Client Business

Cross-border

Products

Fixed Income

Research

Interbank Market

Making

Risk Management

Fixed Income

Sales

Customized Investment

/Financing Alternatives

Overseas

Bond Distribution

Futures

Interest Swap

2017 15th New Fortune

Best Analyst

Fixed Income Research 1st

Prize

Leading Fixed Income Research Coverage

2016第十届

卖方分析师水晶球奖

总榜单：

债券研究第一名

公募基金公司榜单：

债券研究第三名

非公募基金公司榜单：

债券研究第一名

2017 11th Crystal Ball

Analysts Awards

Best Bond Research 1st

Prize

FICC

Sales

Products Trading

Structured

Products

23%

77% 48%

52%

RMB mn

20,643

64,365

2016 2017Group Debt investments

+212%

RMB mn

16

30.0

38.6

2016 2017

735 679

658 1,013

1,393

1,692

2016 2017

Fee and commission income Others

+21%

Highlight 4:WM and IM Platforms Significantly Enhanced

CICC WM: Revenue Driven by Non-cash Equity

RMB mn

Note: Customer Accounts and Assets exclude Golden Net

Dedicated to Forging the Industry Leading Wealth

Platform

Customer Accounts and Assets Growing

1000

+29%

619

737

2016 2017

+19%

RMB bn

CICC Wealth Service Center

CIO Office

Wealth Research

Product Center

Top-notch One-stop Wealth Solution Provider

Macro asset allocation Exchange / OTC trading

and funding solutions Extensive product

portfolio

Structured Products

Stock Pledge Private Equity

Leverage CICC research to

offer domestic / overseas

asset allocation solutions

Leading derivatives platform to

provide customized domestic /

HK structure products

Customized stock pledge

alternatives to address

customers’ funding needs

Extensive research coverage

and a variety of wealth

reports

An open multi-product, multi-

asset and multi-market

product center

First mover in China to

manager cross-border FOF;

leading manager of domestic /

overseas private equity FOF

47%

53%

60%

40%

Wealth Management Business Highlights

Platform Development

Established Wealth Services Center to strengthen research and product capability

Leveraging CICC platform to provide full-scope products and services

IT Systems Upgrade

Improved system functions to enhance customer experience Strengthened system support to business development, reorganization and

standardization of services

Top-notch Wealth Manager in China

“Best Wealth Management Brand 2017” by Securities Times

Customer Accounts Customer Assets

17

113

252

181

344 294

2016 2017

AUM of Traditional AM AUM of Private Equity

270 380

803

1,410 1,074

1,790

2016 2017

Fee and commission income Investment gain and others

Highlight 4:WM and IM Platforms Significantly Enhanced

(Cont’d)

IM Witnessed Substantial Revenue Growth

Private Equity AUM Exceeded RMB250 billion AUM Structure of Traditional AM More Balanced

RMB bn

Group Investment Management AUM Doubled

AM-Collective

8%

AM-Segregated

61%

AM-Special 27%

MF 4%

2017

344

+67% +103%

+122% AM-Collective

7%

AM-Segregated

80%

AM-Special 8%

MF 5%

2016

181

+91%

Note: Traditional AM includes asset management and mutual fund

596

75%

25%

79%

21%

RMB mn RMB bn

RMB bn

113

252

2016 2017

18

Highlight 5: Leading and Influential Research

More than 100 highly experienced professionals, with a wide

coverage over domestic and overseas clients

Award winner in research selections across a variety of

sectors and asset classes

Highly Experienced and Professional Team Extensive Coverage and Bilingual Reports

Coverage over

1,000 stocks

in 40 sectors

Awards by Prominent International Institutions

In 2017, we

published more

than 10,000

reports in

English and/or

Chinese.

Ranked No.1 on the Leaders Board

Macro economy

Gambling,

hospitality and

leisure

Strategy Industrial

Banking

Infrastructure

and

transportation

Automobile Internet

Consumption Real estate

No. 1 Overall Country Research for China

(2006-2017)

− Best for Overall Country Research（A-share /B-

share and H-share）

− Best Local Brokerage（ A-share /B-share）

− Most Independent Research Brokerage（A-share

/B-share and H-share）

No.1 All-China Research Team

(2012-2017)

19

50% 47%

3%

0%

Fee and commission income Ieterest income Investment gain Others

Fee and commission Income：

2,055

Interest Income：

1,918

Investment gains:

115

Others：24

1,287

1,513

2016 2017

+18%

2,632

2,797

2016 2017

Highlight 6: Integration with CISC in Smooth Progress

Revenue Structure of CISC

RMB mn

Brokerage Customer Accounts and Assets Kept Growing

Updates on Integration Progress

+6%

Customer Assets Customer Accounts 1000 RMB bn

2017

4,112

Introduction of market-based mechanisms and practices, and fine-

tuning of organizational structure

Sharing of knowhow and practices in management, risk control,

product and systems

Organiza-

-tion

Business

Transformation of brokerage business to wealth management

Integration of CISC’s investment banking, debt underwriting and sales

teams completed

Initial synergies seen in IC training, product and investment banking

business

Middle

and back

offices

Periodical progress in unifying compliance and risk control standards,

balance sheet management and system interconnection

Cultural exchanges at the firm-wide level

2016 2017

Revenue

Rank 17 8

2016 2017

Group Positioning in the Industry Significantly

Enhanced

Rank 19 9

Total Assets

Note: 2017 rank based on sum of revenue and total assets of CICC and CISC; rank based

on public information

Note: revenue is by segment report

20

IT systems enriched with capacity further upgraded

Strong support to business transitioning and product

innovation

Timely and efficient system support for business

development

Safeguarding safe, stable and efficient operations at the

firm level

Highlight 7：Development of Middle and Back Offices

In 2017, we committed resources to further strengthening the capacity of middle and

back offices, such as IT, finance, risk and compliance control

Risk Management and Compliance

Implementation of the Comprehensive Risk Management

Standards and Requirements for Consolidated Balance

Sheet-based Regulation

Strengthened investor suitability management

Prevention of major compliance incidents and unanticipated

large amounts of loss

Financial Resources Management IT Systems

Unified decision-making, management and deployment of

financial resources and centralized risk management

Optimized asset-liability management

Strengthened liability management to enhance funding

capacity and lower cost

PB system

OTC derivatives system

GWMS system

21

Completed Acquisition of CISC

Commenced consolidation of CISC’s financials from

April 1, 2017

Major Capital Market Initiatives Diversification of Group Shareholding Structure

As of 03/23/2018

Note1: Aggregate of shares owned by Huijin and its concerted parties

Others

28.57% 11.84% 7.45% 7.23% 5.53% 5.31% 30.46%

Huijin 1

As of 12/31/2016

3.61%

March 2017

Announced acquisition of a majority stake in

KraneShares

Leveraged the KraneShares platform to usher into

the US asset management and ETF sector

July 2017

Announced issuance of primary H shares to a

wholly-owned subsidiary of Tencent

Announced entering into a strategic cooperation

framework agreement with Tencent

September 2017

Highlight 8: Shareholding Structure and Business Mix

Optimized through Strategic M&As

Others

55.75% 4.49% 4.10% 3.04% 2.92% 24.75%

Huijin 1

4.95%

22

Section IV

Strategic Updates

23

Closely follow the advancement of financial technology, and explore closer cooperation with

partners in innovative business models

Strategic Vision and Initiatives ——Embrace historical opportunities of the New Era

Bring forward closer and deeper integration with CISC

Focus on cross-border activities and actively pursue strategic M&A opportunities

Major Strategic Initiatives

Promote systematic cross-departmental collaboration to strengthen key capabilities and gather

assets

Upgrade the capacity of our middle and back offices to enhance our core competitiveness

Further enhance balance sheet-based servicing capabilities

1

2

3

5

4

6

Enhance our brand and franchise, and build an inclusive and cohesive corporate culture for win-win 7

Strategies

In 2018, our Company will further emphasize our stance of serving client interest and serving the real economy,

enhance the professional capacity of the front, middle and back offices, and consolidate our strengths in high-end

business, to enhance our competitiveness and influence in the market, achieve sustainable development and

maximize shareholder value. and influence in the market, achieve sustainable development and maximize

shareholder value.

Tel: (8610) 6505-1166 Http:www.cicc.com

Thank You!