CICC Announces to Establish a Technological Joint Venture with Tencent

BEIJING,Sept.24,2019 -- China International Capital Corporation Limited (CICC,3908.HK) announced today that the Company entered into a shareholders' agreement with Tencent Digital (Shenzhen) Limited ("Tencent Digital"),an indirect wholly-owned subsidiary of Tencent Holdings Limited (Tencent,700.HK),pursuant to which the parties agreed to establish a technological joint venture. The technological joint venture is proposed to,through providing technological platform development and digitalized operational support services,facilitate the Company's wealth management,retail brokerage and other businesses to provide more convenient,intelligent and differentiated wealth management solutions,enhance the service efficiency of investment consultants,optimize precision marketing and strengthen compliance and risk control. The technological joint venture is expected to drive the accelerated transformation and scalable development of the Company's wealth management business with digital and FinTech capabilities. In the future,the technological joint venture may extend its services to other financial institutions.

The proposed formation of the technological joint venture represents a joint innovation and exploration of the Company and Tencent to respond to the call and requirement of the state and regulatory authorities for the development of FinTech,and to grasp the significant opportunities along with the digitalization of the wealth management business leveraging their respective competitive strengths. Both parties will furnish the operation of the technological joint venture with sufficient resources required and give full play to their respective strengths to support the joint venture's development. The Company will contribute its knowhow and experience in terms of investment advisory,financial products,asset allocation and risk control,as well as technological capabilities in the securities business and financial professionals; and Tencent will contribute its extensive customer base and ecological advantages,digital expertise and experience,and technical and operational professionals.

The proposed registered capital of the technological joint venture will be RMB500 million. The ownership of the joint venture will be held 51% by the Company and 49% by Tencent Digital.

Mr. Bi Mingjian,CEO of CICC,said that "The technological joint venture is part of CICC's strategic initiatives in wealth management. We are pleased to collaborate with Tencent,a tech enterprise with outstanding capabilities and substantial experience in digitalization,to explore the huge growth potential of the digital future."

Martin Lau,President,Tencent Holdings said,"Digitalization of financial services provides a secular opportunity for the industry. Combining the strengths of CICC and Tencent,we look forward to offering more customized and differentiated FinTech services to users."

About China International Capital Corporation Limited (CICC)

CICC is China's first joint-venture investment bank and a pioneer in international best practices in China. Since CICC's inception in 1995,our commitment has been to provide high quality,value-added financial services to our clients. We have established full-service business model offering investment banking,equities,FICC,wealth management and investment management services – all based on our solid research coverage. Our headquarters is in Beijing and we have subsidiaries throughout mainland China,company branches in Shanghai,Shenzhen,Xiamen,Chengdu and other cities,and more than 200 securities branches in 28 provinces and municipalities nationwide. We are also active overseas with branches in Hong Kong,New York,Singapore,London,San Francisco,and most recently,Frankfurt. In 2015,CICC listed on the main board of the Hong Kong Stock Exchange.

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