CITIC Limited — Earnings Release 2021

Jan 11, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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ANNOUNCEMENT

UPDATES ON 2021 PRELIMINARY ANNUAL RESULTS OF CHINA CITIC BANK CORPORATION LIMITED

This announcement is made by CITIC Limited (the “Company”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company notes the announcement (the “CITIC Bank Announcement”) of today’s date made by China CITIC Bank Corporation Limited (“CITIC Bank”), a principal subsidiary of the Company, in relation to the updates on 2021 preliminary annual results. The CITIC Bank Announcement is available on the website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and is set out at the end of this announcement.

By Order of the Board CITIC Limited Zhu Hexin Chairman

Hong Kong, 11 January 2022

As at the date of this announcement, the executive directors of the Company are Mr Zhu Hexin (Chairman), Mr Xi Guohua and Ms Li Qingping; the non-executive directors of the Company are Mr Song Kangle, Mr Peng Yanxiang, Ms Yu Yang, Mr Zhang Lin, Mr Yang Xiaoping and Mr Tang Jiang; and the independent non-executive directors of the Company are Mr Francis Siu Wai Keung, Dr Xu Jinwu, Mr Anthony Francis Neoh, Mr Gregory Lynn Curl and Mr Toshikazu Tagawa.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 998)

ANNOUNCEMENT

UPDATES ON 2021 PRELIMINARY ANNUAL RESULTS

This announcement is made by China CITIC Bank Corporation Limited (the “ Bank ”) in accordance with Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited to provide shareholders of the Bank and the public with the financial information of the Bank. This announcement is also published on the Shanghai Stock Exchange simultaneously. The consolidated financial figures contained in this announcement are preliminarily calculated according to Chinese Accounting Standards and have not been audited by accounting firms. The 2021 Annual Report of the Bank to be released in due course shall be referred to for final figures of the Bank. Potential investors and shareholders of the Bank should exercise caution when dealing in the shares of the Bank.

I. KEY FINANCIAL FIGURES AND INDICATORS OF 2021

		ank.	ank.	ank.	ank.	ank.
		EY FINANCIAL FIGURES AND INDICATORS OF 2021
		Unit:RMB100milli				on
	I	tems	2021(Unaudited)	2020(Audited)	Changes (%	)
	O	perating income	2,045.57	1,947.31	5.0	5
	O	perating profit	655.69	578.16	13.4	1
	T	otal profit	655.17	578.57	13.2	4
	N	et profit attributable to the shareholders ofthe Bank	556.41	489.80	13.6	0
	N	fiibblhhhldf				1
		et prot attrutae to te sareoers othe Bank after deduction of non-recurringprofit and loss	555.11	488.18	13.7
	Basic earnings per share (RMB yuan)		1.08	0.94	14.89
	Weighted return on average equity (%)		10.73%	10.11%	Increase by 0.62percentage point

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	Items	202131 December(Unaudited)	202031 December(Audited)	Changes (%)
	Total assets	80,414.18	75,111.61	7.06
	Total equity attributable to the shareholders ofthe Bank	6,263.03	5,445.73	15.01
	Total equity attributable to the ordinaryshareholders of the Bank	5,113.62	4,696.25	8.89
	Share capital of the ordinary shares	489.35	489.35	–
	Net asset per share attributable to the ordinaryshareholders of the Bank (RMB yuan)	10.45	9.60	8.85

• Notes: 1. Basic earnings per share and weighted return on average equity were calculated according to Compilation Rules for Information Disclosures by Companies that Offer Securities to the Public (No.9): Calculation and Disclosure of Rate of Return on Equity and Earnings per Share (2010 Revision) issued by China Securities Regulatory Commission.

  1. In October 2021, the Bank distributed RMB1.33 billion dividends on the preference shares of “CNCB Excellent 1”. In calculating the basic earnings per share and the weighted return on average equity disclosed in this announcement, the impact of the distribution of dividends on the preference shares has been taken into account.

  2. In March 2019, the Bank issued A-share convertible corporate bonds in an amount of RMB40 billion. As of the end of 2021, convertible bonds worth RMB327,000 were converted to 45,896 A shares accumulatively.

  3. In December 2021, the Bank distributed RMB1.68 billion dividends on its RMB40 billion’s undated capital bonds (19 CNCB Undated Bond). In calculating the basic earnings per share and the weighted return on average equity disclosed in this announcement, the impact of the distribution of dividends on the undated bond has been taken into account.

II. DETAILS OF OPERATING RESULTS AND FINANCIAL POSITIONS

In 2021, the Bank adhered to the guidance of Xi Jingping’s Thought on Socialism with Chinese Characteristics for a New Era, strengthened the support for the real economy, made steady progress in business development and achieved good results. In 2021, the Bank realized RMB204.557 billion operating income, a year-on-year increase of 5.05%; the total profit reached RMB65.517 billion, a year-on-year increase of 13.24%; and the net profit attributable to the shareholders of the Bank reached RMB55.641 billion, a year-on-year increase of 13.60%. As at the end of 2021, the NPL ratio of the Bank stood at 1.39%, a decrease of 0.25 percentage point from the end of the previous year. The provision coverage ratio reached 182.14%, an increase of 10.46 percentage points from the end of the previous year. As at the end of 2021, the total assets of the Bank reached RMB8,041.418 billion, an increase of 7.06% over the end of the previous year; and the total equity attributable to the ordinary shareholders of the Bank reached RMB511.362 billion, an increase of 8.89% over the end of the previous year.

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III. RISK WARNING

The main financial figures of 2021 in this announcement are preliminarily calculated, which may be different from the figures audited by accounting firms to be disclosed in the 2021 Annual Report, but the estimated difference would be no more than 10%. Investors should pay attention to investment risks.

By order of the Board of Directors China CITIC Bank Corporation Limited ZHU Hexin Chairman

Beijing, the PRC 11 January 2022

As at the date of this announcement, the non-executive directors of the Bank are Mr. Zhu Hexin (Chairman), Mr. Cao Guoqiang, Ms. Huang Fang and Mr. Wang Yankang; the executive directors are Mr. Fang Heying (Vice Chairman, President) and Mr. Guo Danghuai; and the independent nonexecutive directors are Mr. He Cao, Ms. Chen Lihua and Mr. Qian Jun.

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