The Board of China Cinda Asset Management Co., Ltd. (SEHK:1359) announced the spin-off of 99.33% stake in Cinda Securities Company Limited on August 5, 2020. China Cinda Asset Management is considering a possible spin-off and separate listing of Cinda Securities and its subsidiaries on a stock exchange in People's Republic of China. As on August 5, 2020, the sponsor of the proposed spin-off and listing of Cinda Securities submitted the application for the commencement of the pre-listing tutoring process to the China Securities Regulatory Commission Beijing Bureau, and has yet to receive the acknowledgement of receipt of such application from the China Securities Regulatory Commission Beijing Bureau. Pursuant to Practice Note 15 of the Listing Rules, China Cinda Asset Management will submit the application for the proposed spin-off and listing to the Hong Kong Stock Exchange for approval in due course. Cinda Asset Management will make further disclosure as and when appropriate pursuant to the relevant requirements of the Listing Rules. The proposed spin-off and listing will be subject to, among other things, the current market conditions and the approvals of relevant authorities (including the China Securities Regulatory Commission, relevant stock exchange in People's Republic of China, and the Hong Kong Stock Exchange).

On November 27, 2020, the Stock Exchange of Hong Kong Limited confirmed that the Cinda Securities Company Limited may proceed with the proposed Spin-off and Listing. On December 28, 2020, Cinda Securities has submitted a formal application to China Securities Regulatory Commission for listing of its shares. On June 30, 2022, China Securities Regulatory Commission has approved the application for listing of shares on stock exchange. On December 16, 2022, The Company is pleased to announce that the CSRC has recently issued the Approval on the Initial Public Offering of Cinda Securities Co. under which Cinda Securities is approved to publicly issue no more than 324.3 million new shares. The Approval remains valid for 12 months. Shareholders and potential investors of the Company should note that the Proposed Spin-off and Listing will be subject to, among other things, the current market conditions

The Board of China Cinda Asset Management Co., Ltd. (SEHK:1359) completed the spin-off of 99.33% stake in Cinda Securities Company Limited on February 1, 2023.