CITIC Securities Company Limited (hereinafter referred to as “CITIC Securities”, or the “Company”) formulates this policy in accordance with the CITIC Securities Employee Handbook, and other management policies including Campus Recruiting, Experienced Recruiting, Training Management, Performance Management, Compensation and Benefits Management, Employee Reward Policy, etc. CITIC Securities adheres to the core value of putting people first. The Company is committed to respecting and protecting human rights, caring for employees’ career development, providing comprehensive career paths and diversified training, concentrating on employees’ health and safety, being attentive to their voices, and striving for common prosperity with employees.

The term “employees” in this policy refers to all full-time employees who have signed formal employment contracts with CITIC Securities, and the Company has not recruited part-time employees. 

I. Respect for Human Rights

CITIC Securities does not discriminate against employees on the basis of race, religion, gender, age, marriage, appearance, etc., in matters of recruitment, on-boarding, training, promotion, incentive provision, working hours policy, holiday policy, benefits, and dismissal. The Company and the human resources management strictly follow the requirements of laws and regulations and the conventions of the International Labor Organization, including the prohibition of child labor, the elimination of all forms of forced labor, and the elimination of discrimination in hiring and employment, so as to fully protect the rights and interests of employees.

CITIC Securities is committed to providing employees with an inclusive, honest, caring, and cooperative work environment. The Company has a comprehensive welfare protection system in place, through which employees’ working hours and various types of leaves are well managed. With the establishment of diversified channels for collecting opinions and suggestions, the Company listens to employees’ voices and ideas, and encourages employees to realize their potential and create value.

II. Recruitment and Diversity

CITIC Securities always upholds the concept of fairness and diversity. The Company strives to attract talents with various backgrounds and industry expertise as to build a diversified pipeline of talents. To ensure the development of a high quality talent pool, the Company recruits talent through various recruitment channels, such as campus recruitment and social recruitment, these talented candidates are from different professional backgrounds in the fields of finance, information technology, mathematics, law, and languages, etc.

III. Development and Training

CITIC Securities highly emphasizes talent attraction and retention, providing employees with competitive remuneration and benefits. The Company has formulated a comprehensive career development path and training system. The Company considers the existing training system and business development needs and formulates an annual training plan.

The Company attaches great importance to personal development and promotion of employees. Therefore, the Company establishes a promotion mechanism based on the principles of "justice, fairness, and openness". The Company has a diversified talent system in place, which provides all types of employees with clear career development paths, so as to ensure that all employees can achieve advancement in their respective fields.

The Company has established a training system covering all employees and empowering them in all aspects through various training channels, such as online and offline training, internal and external training, etc. Management, key personnel, new hires, and trainees are provided with general or professional training courses accordingly to improve their professional skills, management skills, and leadership.

The Company encourages all employees to participate in various types of job-related professional qualification examinations both locally and internationally. The Company has a supporting policy to reimburse examination fees for employees who pass the examinations. The Company also organizes employees to actively participate in various training held by regulatory bodies and industry associations, where relevant expenses will be reimbursed.

The Company forges partnerships with well-known universities and professional training institutions, so as to provide employees with comprehensive and multi-dimensional joint training. The training program aims to help employees achieve comprehensive development and covers education topics in management and professional skills.

IV. Employee Communication and Grievances

CITIC Securities has established democratic management mechanisms such as labor unions and other departments for the protection of employees’ rights and interests. The Company also has staff representative assemblies to listen to and address employees’ feedback in a timely manner. The Company conducts grassroots employee research through seminars and other research forms to understand the needs of grassroots employees and collect their opinions and suggestions on the Company.

CITIC Securities conducts annual employee satisfaction surveys. Under the premise of anonymous scoring and non-disclosure of individual ratings, the survey is conducted with the aid of information technology to investigate aspects of working conditions, work and career development guidance, teamwork and work atmosphere, care and respect for employees, as well as employee opinions and suggestions in their departments. In response to the results of the satisfaction survey, the Human Resources Department, together with the relevant personnel in charge, will generate feasible optimization plans for continuous improvements.

CITIC Securities has set up a variety of employee communication and grievance channels in order to keep abreast of employees’ demands, as well as remain updated with the reported problems regarding to the management of the Company. The Company also requires grievance investigators to keep details of the grievance matters and persons involved in the investigation confidential. The Company promised that all grievances will be handled in an appropriate manner and no persons involved in a grievance will be subjected to retaliation or harm during or after the grievance process.

V. Employee Performance Appraisal

CITIC Securities has established a fair and reasonable employee performance appraisal, promotion, and appeal system. The Company upholds a goal-oriented performance philosophy and performs employee evaluation based on fair and objective evaluation principles. The Company continuously improves the commercial capability and overall competence of employees through setting performance goals, tracking and coaching the performance process, evaluating performance, and providing feedback on performance results, so as to grow the business along with employees.

Performance appraisal is conducted annually for all employees. Through a closed-loop performance management system of “target-setting at the beginning of the period, tracking improvement in the mid-term, and appraising at the end of the period”, the assessment results are issued by taking-into-account factors, including the completion of KPI, 360 feedback, daily behavior, compliance and integrity, practice of industry and company culture, reputation, rewards and punishments and so on.

The Company has set up a sound employee performance appeal mechanism. In accordance with the CITIC Securities Performance Management Measures, if an employee does not recognize or accept the results of the performance appraisal, he/she may submit a written application form to the Human Resources Department within a specified period of time. The Human Resources Department will verify the content involved in the complaint, propose a handling suggestion based on the findings and provide complaint results to the complainant.

The Company establishes a diversified employee reward system and insists on the combination of material and spiritual incentives. Through means of notice of commendation, awarding honorary titles and special rewards, the Company encourages employees to stay diligent, strive for excellence, serve customers, cooperate with each other and be enthusiastic about public welfare.

VI. Health and Safety

The Company provides a healthy and safe working environment for employees and has set up occupational health and safety management regulations according to relevant laws and regulations and industry standards. The Company conducts regular health check-ups, develops emergency plans, and carries out occupational health and safety education and training to protect employees’ occupational health and safety.

VII. Employee Care

The Company focuses on humanistic care for employees and strives to create a heart-warming workplace.

The Company carries out diversified employee activities, improves employee welfare, promotes communication, nurtures an open and friendly corporate culture of solidarity and mutual assistance, and enhances employees’ sense of belonging and happiness.

VIII. Supply Chain Responsibility Management

The Company adheres to a responsible supply chain management policy. The Company urges and monitors suppliers and contractors to comply with employment, labor, and other laws and regulations upon signing corporation contracts and agreements to fulfill their corresponding responsibilities.