(Revised June 2026)
The principal revisions covered in this update involve the following topics:
· Workforce eligible for non-pay benefits (Refers to I Employee Rights and Interests Protection);
· Formal talent pipeline development strategy (Refers to III Talent Pipeline Development);
· Employee satisfaction survey frequency (Refers to IV Employee Communication and Grievance);
· Extent of human resource-related grievance reporting or escalation procedures (Refers to IV Employee Communication and Grievance);
· Variable performance-based component to pay (Refers to V CITIC Securities has established a variable compensation for employees who are non-managerial and non-sales staff) and;
· Variable performance-based component to pay and Regular performance appraisals and feedback processes (Refers to V CITIC Securities has established a variable compensation for employees who are non-managerial and non-sales staff);
Please refer to the sections under the corresponding headings below for the specific links to the relevant policies.
CITIC Securities Company Limited (hereinafter referred to as “CITIC Securities”, or the “Company”) upholds the people-centric values and the principle that 'talent is the most important resource of the Company', values talent, cares about career development, provides comprehensive development paths and diversified training, pays attention to the health and safety of employees, listens to their opinions, creates a positive and upward work atmosphere for employees, focuses on maximizing the knowledge, skills, talents, and professional commitment of each employee, helps them become the best talents in their field, strives to achieve shared growth between employees and the Company.
For the purpose of this Policy, the term "Employee" refers to all full-time employees who have signed formal employment contracts with CITIC Securities. The Company does not employ part-time staff.
I. Employee Rights and Interests Protection
CITIC Securities strictly complies with relevant national laws and regulations, providing employees with equal employment opportunities. For matters related to employee recruitment, onboarding, training, promotion, incentives, working hours, holidays, employee benefits, dismissal, etc., there are no differences based on the grounds of race, religion, gender, age, marital status, physical disability, etc. The Company carries out human resources management in accordance with requirements prohibiting child labor, eliminating various forms of forced labor, and eliminating discrimination in recruitment and employment, so as to fully protect employees’ rights and interests.
The Company is committed to fostering an inclusive, integrity-driven, caring and collaborative work environment, ensuring employees have access to proper working conditions, job-related business knowledge and skills training, and corresponding remuneration. The Company has established a comprehensive benefits and security system and standardized the management of working hours and various types of leave. The Company establishes diverse channels for collecting opinions and suggestions, listen to employees' voices and ideas, and encourage them to unleash their potential and create value.
CITIC Securities focuses on humanistic care for its employees, strives to create a happy and heartwarming workplace, and establishes non-pay benefits covering all employees[1], carries out diversified employee activities, improves employee benefits, promotes employee communication, establishes an open, friendly, united and mutually supportive corporate culture, and enhances employees' sense of belonging and happiness.
II. Employee Recruitment and Diversity
CITIC Securities takes its development strategy as guidance, with improving human resources efficiency as the goal, combines the market environment and the business development requirements, establishes the formal talent development strategy, formulates the annual talent acquisition mechanism and the annual recruitment plan, projects hiring requirements every year, formulates the next year's recruitment plan, and dynamically adjusts the recruitment strategy according to the actual situation, actively seeks high-quality talents. For different hiring departments and professional fields, the Company comprehensively evaluates recruitment needs, and utilizes various talent recruitment channels such as campus recruitment and lateral recruitment, combined with diversified evaluation methods such as written exams, interviews, and internship assessment, to improve the accuracy of talent acquisition.
CITIC Securities attaches great importance to the workforce diversity, setting quantitative goals for diversity in the recruitment process, and recruiting outstanding talents with different professional backgrounds and languages to ensure the development of a high-quality talent team. At the same time, to achieve the goal of proactive talent pooling, the Company relies on multiple channels such as the "Xin π Plan" practical training camp, specialized digital technology talent recruitment, and normalized employee rotation and expatriation to build a dynamic talent reserve pool, mainly covering outstanding potential students from universities and high-quality internal and external practitioners. The talent competency tags are updated synchronously, providing a stable and long-term talent supply guarantee for the Company's development.
The senior management of CITIC Securities shall manage and supervise the implementation of diversification related policies, be responsible for promoting diversification policy training, and make improvements based on the implementation effect of diversification related measures.
CITIC Securities continues to pay attention to the employment of college graduates, establishes cooperative relationships with key universities at home and abroad, carries out internship programs for college students, provides one-on-one mentors, special training, workplace experience and other platforms and opportunities, and cultivate outstanding young talents for the industry and the Company. At the same time, the Company actively participates in various career counselling, job fairs, employer forums, and exchange visits with domestic and foreign universities to attract and introduce outstanding talents through multiple recruitment channels.
III. Talent Pipeline Development
This section demonstrates that CITIC Securities has established a formal talent pipeline development strategy and has adhered to it consistently over the long term. Please refer to the following paragraphs for detailed supporting evidence.
CITIC Securities also attaches great importance to talent attraction and retention, formulates talent development strategies, provides employees with competitive compensation and benefits, and builds a sound career development and training system. The Company considers the existing training system and business development needs comprehensively every year to develop an annual training plan.
The Company attaches great importance to the personal development and promotion of employees, and sets up A Managing Director (MD) promotion system based on the best practices of international investment banks, establishes and continuously improves performance appraisals and promotion mechanisms, creates a diversified job system and talent pipeline development system with dual career tracks covering management and professional paths, develops training programs for talent groups at different stages of development, and opens up channels for talent advancement, provides employees with clear career advancement and development paths.
The Company provides diverse job exchange and rotation opportunities across departments, regions and overseas offices. Through multidimensional experiences, it helps employees improve their abilities, realize personal value, and achieve a win-win situation with the Company.
The Company attaches great importance to talent cultivation and formulates targeted annual training plans based on the Company's key development strategies and annual training needs survey results. Starting from the needs of talents at different levels, the Company continuously improves and optimizes the talent training system.
For management talents, young talents, professional talents and all employees, the Company provides personalized and high-quality training for employees throughout the Company through the development of internal courses and cooperation with external professional institutions, enhances employees' specialized skills, management ability and leadership, and achieves 100% training coverage, continuously improving the overall competencies of employees and achieving common development between employees and the enterprise.
The Company encourages all employees to participate in relevant professional qualification exams, professional title assessments, etc., and supports employees in obtaining relevant professional certificates, professional titles, or degrees. The Company organizes employees to actively participate in various trainings organized by regulatory agencies and industry associations.
IV. Employee Communication and Grievance
CITIC Securities has set up employee rights and interests protection departments (including the labor union) and democratic management mechanisms such as the Employee Representative Congress, to promptly listen to and resolve employee’s feedback. The Company conducts grassroots employee engagement surveys via focus group meetings and other forms to understand the needs of grassroots employees and solicit their opinions and suggestions on the Company.
The Company conducts employee engagement surveys every year, using information technology to conduct surveys on the working conditions, work and career development guidance, team collaboration and work atmosphere, employee care and respect, and employee opinions and suggestions in the department, while adhering to anonymous rating process and not disclosing individual specific ratings. Based on the satisfaction survey results, the Human Resources Department, in conjunction with relevant personnel, shall review feasible optimization plans and continuously improve them.
The Company sets up various channels for employee communication and grievance, to timely understand the demands of employees and grasp the problems in company management. The Company stipulates that grievance investigators shall keep the details of the grievance matter and the personnel involved in the investigation confidential. The Company undertakes that all grievances shall be handled properly, and no party involved in a grievance shall be subject to retaliation or harm during or after the investigation process.
V. CITIC Securities Has Established a Variable Compensation for Employees who are Non-managerial and Non-sales Staff
CITIC Securities has established a fair and reasonable system for employee performance appraisals, promotion and grievance. Adhering to the goal-oriented performance philosophy and the principle of fair and objective evaluation, the Company continuously improves employees' business abilities and comprehensive qualities by setting performance goals, tracking and coaching the performance process, evaluating performance, and providing feedback on performance results, promoting the common development of employees and the Company.
The Company conducts annual performance appraisals for all employees, providing variable compensation such as performance bonuses to all employees (including non-managerial and non-sales staff) based on fixed salaries. The company implements an integrated performance management system covering three stages: initial goal formulation, mid-cycle tracking and optimization, and year-end assessment and appraisal. The Company issues assessment results by comprehensively considering factors including employees' performance indicator completion, daily work performance, compliance with professional ethics standards for securities practitioners, adherence to industry and cultural values belonging to the corporation, as well as disciplinary records and honors.
The Company conducts periodic audits of its business operations, with audit procedures covering the assessment of employee ethics and professional conduct.
The Company's compensation system consists of two parts: fixed compensation and performance-based compensation. Among them, performance-based compensation is a variable compensation component that is linked to the performance of the Company, department, and individual employees. Performance-based compensation reflects the differences in employee performance and contribution, and is applicable to all employees. The Company has established a performance-based compensation deferral mechanism to align senior management, core key employees, and employees in positions with direct or material impact on risk exposure with the Company's development goals, ensuring that the vesting period of performance bonuses is aligned with the risk horizon of the underlying business, and rewarding continuous value creation.
The Company has established a complete grievance mechanism for employee performance. In accordance with Company regulations, if employees do not recognize or accept the performance appraisal results, they can submit a written grievance application to the Human Resources Department within the specified time. The Human Resources Department shall verify the content of grievance and provide handling opinions based on the investigation results, and communicate the grievance handling result to the grievant.
The Company has established a diversified employee reward system, adhering to the combination of material and spiritual incentives. The company motivates its employees to uphold diligence and accountability, pursue excellence, deliver quality customer service, foster teamwork and engage actively in public welfare through issuing commendation notices, conferring honorary titles and granting special incentives.
VI. Occupational Health and Safety
CITIC Securities provides employees with a healthy and safe working environment. In accordance with relevant laws, regulations and industry standards, CITIC Securities formulates occupational health and safety management regulations, and formulates emergency plans, conducts regular health examinations and occupational health and safety education and training for employees, and guarantees employees' occupational health and personal safety.
VII. Responsible Supply Chain Management
CITIC Securities adheres to a responsible supply chain management policy and requires and supervises suppliers and contractors to comply with applicable employment and labor laws and regulations and fulfill their corresponding responsibilities as stipulated in contract agreements.
[1] Non-pay benefits refer to employee 'benefits' that are not paid in the form of cash wages, including: wellness and insurance benefit, retirement plans, paid leave, maternity leave and parental leave, flexible work arrangements, employee training and development, life related support, etc.
