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. China International Capital Corporation Limited 中國國際金融股份有限公司 (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 03908) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 The board of directors of China International Capital Corporation Limited (the “Company”) hereby announces the audited annual results of the Company and its subsidiaries for the year ended December 31, 2020. This announcement, containing the main text of the 2020 annual report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to preliminary announcements of annual results. The printed version of the Company’s 2020 annual report will be despatched to the shareholders of the Company and available on the website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and the website of the Company at www.cicc.com in due course. By order of the Board China International Capital Corporation Limited Secretary to the Board Sun Nan Beijing, the PRC March 30, 2021 As at the date of this announcement, the Executive Director of the Company is Mr. Huang Zhaohui; the Non-executive Directors are Mr. Shen Rujun, Ms. Tan Lixia and Mr. Duan Wenwu; and the Independent Non-executive Directors are Mr. Liu Li, Mr. Siu Wai Keung, Mr. Ben Shenglin and Mr. Peter Hugh Nolan. Core Values BY THE PEOPLE AND PROFESSIONALISM FOR THE NATION AND DILIGENCE People are our most valuable assets. We strive to attract, We develop our businesses up to the highest cultivate and retain the best people. Since inception, professional standards, and nurture a high-caliber CICC has positioned itself as “a China-based investment team of financial professionals, who boast bank with international perspectives”. It is our mission international visions, diligently perform their duties to serve the nation by promoting economic reform and and share our corporate values. long-term development of the capital markets. INNOVATION AND ENTREPRENEURSHIP Innovation is the lasting force that drives CICC forward. Blessed with deep industry knowhow, visionary leadership, close relationship with clients, and abundant execution experiences, CICC is always prepared to embrace change and continue to deliver innovative products and quality services to our clients. CLIENT FIRST We always put our clients first. We develop and maintain long-term relationships of trust with our clients by truly safeguarding their interests and satisfying their needs. INTEGRITY We build our franchise upon the utmost professional integrity and highest ethical standards. We value our franchise and never compromise on integrity. CHINESE ROOTS AND INTERNATIONAL REACH As a China-based global investment bank, we are proud of our Chinese roots and of our international DNA. We bridge China and the world by providing best-in-class services to clients at home and abroad. PROFESSIONALISM AND DILIGENCE Content INNOVATION AND 2 Important Notes ENTREPRENEURSHIP 3 Significant Risk Warnings 4 Message from Our Chairman 6 Message from Our CEO 15 Definitions 24 Company Profile 33 Summary of Accounting Data and Financial Indicators 38 Management Discussion and Analysis 118 Directors’ Report 123 Other Significant Events 124 Changes in Shares and Information of Substantial Shareholders 128 Directors, Supervisors, Senior Management and Employees 148 Corporate Governance Report 178 Environmental, Social and Governance Report 197 Independent Auditor’s Report 205 Consolidated Financial Statements 356 Appendix 002 China International Capital Corporation Limited 2020 Annual Report Important Notes The Directors, Supervisors and senior management of our Company undertake that there are no misrepresentation, misleading statement or material omission in this report and they are severally and jointly liable for the authenticity, accuracy and completeness of the information contained in this annual report. The financial statements for 2020 were prepared by our Company according to International Financial Reporting Standards (“IFRSs”), which have been audited by Deloitte Touche Tohmatsu and Deloitte Touche Tohmatsu has issued auditors’ report with unqualified opinions. Unless otherwise stated, the amounts in this report are presented in RMB. The forward-looking statements such as future plans, development strategies contained in this report do not constitute substantive undertakings by our Company to investors who are advised to be cautious about investment risks. China International Capital Corporation Limited 2020 Annual Report 003 Significant Risk Warnings The business operations of our Group are closely related to the macro economy, monetary policy and market conditions in China and other jurisdictions where our businesses are operated. Any fluctuation in domestic and international capital markets will affect the Group’s business operations. The risks faced by our Group mainly include: strategic risk arising from the adjustment of the strategic plan of our Group under the changes in domestic and overseas capital markets; business management risk arising from changes of business models, development of innovative businesses and application of new technologies; market risk caused by changes in the fair value of the financial assets held by the Group resulting from fluctuations in equity prices, interest rates, exchange rates and commodity prices, etc; credit risk arising from defaults or deterioration in creditworthiness of counterparties, financing parties and issuers of securities; liquidity risk arising from our Group’s inability to obtain sufficient funds at reasonable costs in a timely manner to settle debts due, fulfill other payment obligations, and satisfy the funding needs in conducting normal business operations; operational risk arising from losses resulting from failed or defective internal procedures or IT systems, human factors and external events; the operational, legal and reputational risks arising from natural factors, human factors, technology vulnerabilities and management deficiencies in the course of the Group’s use of information technology; compliance risk arising from legal sanctions, regulatory actions, loss of property or damage to our reputation, which our Group is to be subject to, imposed on or suffered from as a result of violation of laws, regulations, self-regulatory rules or our internal policies arising from our operations and management activities or employee behavior; legal risk for which our Group may suffer from economic loss or loss of reputation arising from breach of contracts, disputes in respect of infringement, litigations or other legal disputes; money laundering risks such as money laundering, terrorist financing and the financing of proliferation in the course of carrying out business activities by the Group; and reputational risk caused by negative comments on our Group due to operational activities, business management and other actions as well as external events. Our Group will work on its organizational structure, management mechanism, IT system, risk indicator framework, talents cultivation and risks response mechanism to prevent and manage the above mentioned risks. For detailed analysis and measures taken by our Group in respect of the risks, please refer to the content in “Management Discussion and Analysis – VI. Risk Management”. 004 China International Capital Corporation Limited 2020 Annual Report Message from Our Chairman DEAR SHAREHOLDERS, 2020 is an unprecedented year. In the face of severe challenges resulting from the COVID-19 pandemic, China’s economy has restored stably and shown high counter-risk capability and enormous strength under the strong leadership of the CPC Central Committee and the State Council. The capital market in China maintained a steady development momentum, while the reform continued to deepen. A series of reform measures, such as the launch of the new Securities Law, the reform and pilot registration regime of GEM, the pilot of the fund investment advisory business, and the pilot of consolidated regulatory capital framework applied to the first batch of securities firms have opened up a broader development space for securities firms. 2020 marks the 25th anniversary of the establishment of CICC. Over the past 25 years, the Company has always been committed to serving national strategies and promoting reform and innovation. We’ve therefore created a market- oriented, professional and international brand, and achieved sustainable development in terms of the overall scale, business coverage and service capability. In 2020, confronted with the complex and rapidly changing market environment, we united together and made joint efforts to overcome difficulties, and we focused our attention on both the pandemic control and business operations, continuously improved corporate governance, and constantly strengthened risk prevention and control, contributing to substantial year-on-year growth in our annual revenue and net profit. Such excellent achievements have left an indelible mark in the development history of our Company. China International Capital