Investment Banking Business

CITIC Securities Co., Ltd. continued to be the industry leader and further increased its market share in brokerage, equity underwriting, debt underwriting, investment banking, and fund management. Steps were taken against the adverse market climate, including improving corporate policies, enhancing internal collaboration, building an information platform, reducing proprietary trading and tightening the approval of underwriting deals. Additional investment was injected into CITIC Securities International Co., Ltd. and overseas business was initiated in collaboration with international financial institutions. CITIC Industrial Investment Fund Management Co., Ltd. was established and Mianyang Industrial Investment Fund was subsequently launched to grow buy-side business. CITIC Securities made a net profit of RMB7.305 billion in 2008. Although it was down by 40% yoy, the company¡¯s share of the industry in net profit climbed from 9% to approximately 15%.China Securities Co., Ltd.,

CITIC INTERNATIONAL CO., LTD.