News

30 January 2026

Amendment to the Terms and Conditions

Dear Sirs,

We, CITIC Securities Brokerage (HK) Limited (“CSBHK”) and CITIC Securities Futures (HK) Limited (“CSFHK”), have recently updated our (1) Terms and Conditions for Securities Trading & Terms and Conditions for Margin Financing, (2) Terms and Conditions for Securities Trading (Professional Investor - Institutional) & Terms and Conditions for Margin Financing (Professional Investor - Institutional), (3) Terms and Conditions for Futures and Options Trading (4) Addendum in relation to Options Trading (previously known as “Addendum in relation to Options Trading to the Terms and Conditions for Securities Trading” and (5) Addendum in relation to China Connect (collectively referred as “Terms and Conditions”) to reflect certain regulatory updates and our services. The amendments to the Terms and Conditions outlined in this letter are applicable to CSBHK and CSFHK.

Words and expressions defined in the Terms and Conditions shall, unless the context otherwise requires, have the same meanings when used here. The revised Terms and Conditions are now available on our website at: https://www.citics.com.hk/customer-service.php

1. Trading of U.S. Stock Options (applicable to CSBHK)

We are pleased to announce that trading in U.S. stock options is now available at CSBHK. An option is a contract that gives you the right (but not the obligation) to buy or sell an underlying asset at a specified price on or before the contract’s expiry. If the price movement of the underlying asset goes against your expectation, you may be required to post additional margin. Options involve risk and are not suitable for all investors. Before engaging in the purchase or sale of options, investors should understand the nature and extent of their rights and obligations and be aware of the risks involved. The terms and conditions for trading U.S. stock options can be found in the Addendum in relation to Options Trading.

2. Northbound Program Trading Reporting Regime (applicable to CSBHK)

As a China Connect Exchange Participant (CCEP), we wish to inform you that the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) have introduced new regulatory requirements for program trading activities conducted in the Mainland A-shares market via Stock Connect Northbound Trading，including Northbound Trading under Stock Connect, with effect from 7 July 2025. Later on 11 July 2025, the Mainland exchanges issued the reporting requirements for Northbound investors engaged in program trading under the Stock Connect (Northbound Program Trading Reporting Requirements), effective from 12 January 2026. The updated northbound program trading reporting regime clause is reflected in Addendum in relation to China Connect.

3. Updating the Risk Disclosure(applicable to CSBHK)

(a) To enhance client understanding of the potential risks associated with placing short selling orders and stock borrowing for such transactions, CSBHK has updated the Risk Disclosure of Securities Short Selling. This update is intended to provide clearer, more comprehensive information on the nature of short selling, the costs and constraints associated with stock borrowing, and relevant market and regulatory requirements, so clients can make informed investment decisions. The updated the Risk Disclosure of Securities Short Selling is reflected in Terms and Conditions for Securities Trading & Terms and Conditions for Margin Financing.

(b) risk disclosure on providing an authority to use securities and/or securities collateral has been enhanced by providing clients with clearer and more comprehensive information on the potential risks arising from granting such authorities. The updated risk disclosure now covers repurchase in addition to lending and repledge, clarifies third party rights over authorised securities or collateral, broadens insolvency risk to all such arrangements, and notes that cash accounts without such authority exclude repurchase and repledge activities. The updates can be found in (1) Terms and Conditions for Securities Trading & Terms and Conditions for Margin Financing； and (2) Terms and Conditions for Securities Trading (Professional Investor - Institutional)& Terms and Conditions for Margin Financing (Professional Investor - Institutional)

4. Consolidation of Terms and Conditions Documents (applicable to CSBHK)

Terms and Conditions for Securities Trading (Professional Investor – Institutional) and the Terms and Conditions for Margin Financing (Professional Investor – Institutional), which were previously issued as two separate physical documents, have now been combined into a single physical copy titled: Terms and Conditions for Securities Trading & Terms (Professional Investor – Institutional) and Conditions for Margin Financing (Professional Investor – Institutional) This consolidation is intended solely to facilitate easier reading and reference, and does not change the terms and conditions applicable to Customer.

5. Updating the dispute resolution clause (applicable to both CSBHK and CSFHK)

The dispute resolution clause in the Terms of Business of both CSBHK and CSFHK will be updated to replace the Hong Kong International Arbitration Centre (香港國際仲裁中心) with the South China International Arbitration Center (HK) (華南（香港）國際仲裁院) for arbitration proceedings. This update is intended to streamline the arbitration process and support timely, predictable outcomes should a dispute arise. The updated dispute resolution clause is be reflected in (1) Terms and Conditions for Securities Trading & Terms and Conditions for Margin Financing；(2) Terms and Conditions for Securities Trading & Terms (Professional Investor – Institutional) and Terms and Conditions for Margin Financing (Professional Investor – Institutional) ；and （3）Terms and Conditions for Futures and Options Trading

If you have any enquiries, please do not hesitate to contact your Relationship Manager or Customer Service Hotline at (852) 2237 9338 / 400 818 0338 from 9:00 a.m. to 6:00 p.m., Monday to Friday.

Yours faithfully,

CITIC Securities Brokerage (HK) Limited & CITIC Securities Futures (HK) Limited

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