The Relationship between CITIC Securities South China and CITIC Securities

CITIC Securities South China Co., Ltd. is a wholly-owned subsidiary of CITIC Securities Co., Ltd. According to relevant information, CITIC Securities South China Co., Ltd. is a wholly-owned subsidiary of CITIC Securities Co., Ltd. with a registered capital of 50.9 1 100 million yuan. The company, formerly known as Guangzhou Securities Co., Ltd., was established in 1988 and is one of the earliest securities companies in China. In June 2020, the company merged into CITIC Securities Co., Ltd. and changed its name to CITIC Securities South China Co., Ltd.