Announcement of Ministry of Finance of the People’s Republic of China on the Equivalence of Chinese and Swiss Accounting Standards

No. 31, 2021

Regulatory Board of SIX Swiss Exchange AG amended the Directive on Financial Reporting in December 2019, recognizing the Chinese Accounting Standards for Business Enterprises for issuers not incorporated in Switzerland, which trade (including issue) securities on Swiss stock exchange. The revision took effect on January 1, 2020.

Based on the principle of reciprocal, and in accordance with the Accounting Law of the People’s Republic of China and other relevant regulations, the related matters are confirmed as follows:

The International Financial Reporting Standards applied by issuers incorporated in Switzerland shall be considered as equivalent to the Chinese Accounting Standards for Business Enterprises. This announcement enters into force on the date of issue.

It is hereby announced.

Ministry of Finance of the People’s Republic of China

September 7, 2021