CITIC Securities (601066.SH) Net profit attributable to parent increased by 30.68% to 9.439 billion yuan in 2025

CITIC Securities (601066.SH) disclosed its annual report for 2025. As of December 31, 2025, the group’s total assets amounted to RMB 676.816 billion, an increase of 19.49% compared to December 31, 2024; the equity attributable to shareholders of the parent company was RMB 119.102 billion, an increase of 11.87% compared to December 31, 2024; the group’s total operating revenue for the reporting period was RMB 23.322 billion, a year-on-year increase of 22.41%; the net profit attributable to shareholders of the parent company was RMB 9.439 billion, a year-on-year increase of 30.68%.

The investment banking business segment achieved a total operating revenue of RMB 3.132 billion, a year-on-year increase of 25.76%; the wealth management business segment achieved a total operating revenue of RMB 8.221 billion, a year-on-year increase of 24.37%; the trading and institutional client services segment achieved a total operating revenue of RMB 9.724 billion, a year-on-year increase of 20.75%; the asset management business segment achieved a total operating revenue of RMB 1.428 billion, a year-on-year increase of 13.75%.

In 2025, the company actively responded to challenges, with its equity financing business continuing to rank among the top in the market. In terms of domestic business, the company completed 33 A-share equity financing projects, with a lead underwriting amount of RMB 91.773 billion, ranking 3rd and 5th in the industry, respectively. Among them, there were 12 IPO lead underwritings with an amount of RMB 19.661 billion, ranking 3rd and 2nd in the industry, respectively; 21 equity refinancing projects were completed, with a lead underwriting amount of RMB 72.112 billion, ranking 3rd and 5th in the industry, respectively. The company actively implemented national strategies, serving as a sponsor or lead underwriter, assisting Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank in completing the issuance of A-shares to specific targets, successfully concluding the core tier 1 capital replenishment projects for the first four large state-owned commercial banks; deeply serving the national innovation system, the company assisted in 22 equity financing projects for technology enterprises, with underwriting amounts exceeding RMB 30 billion, completing IPO projects for China Uranium Industry, Tianyouwei, Qiangyi Co., Ltd., Angruiwei, and Hengkun New Materials; fully responding to the requirements for the modernization of national defense and military construction, serving the equity refinancing project for AVIC Shenyang Aircraft Corporation, a key aviation defense equipment development enterprise in China. In addition, the company completed 3 convertible bond projects for listed companies, with a lead underwriting amount of RMB 4.249 billion.

In terms of domestic project reserves, as of the end of the reporting period, the company had 30 IPO projects under review, ranking 3rd in the industry; 14 equity refinancing projects (including convertible bonds) were under review, ranking 4th in the industry. In 2025, the company completed 22 listings on the New Third Board and 7 targeted issuance projects for New Third Board companies, raising RMB 0.832 billion (including 1 self-managed issuance); as of the end of the reporting period, the company continued to supervise 70 innovative tier companies on the New Third Board.

In terms of international business, in 2025, CITIC Securities International participated in and completed 7 Hong Kong stock IPO sponsorship projects in the Hong Kong market, including 1 De-SPAC project, with a total equity financing scale of HKD 45.839 billion. Among them, as a joint sponsor, it served the Hong Kong IPO project of CATL, a global leader in new energy, raising HKD 41.006 billion, marking the largest IPO in Hong Kong in nearly four years and the largest IPO in the new energy sector in history; it also served the Hong Kong IPO project of Xidi Zhijia, which was the largest Hong Kong 18C project in scale for 2025. Additionally, CITIC Securities International participated in and completed 3 refinancing projects in the Hong Kong market, raising a total of USD 2.35 billion. Among them, as a placement agent, it served the refinancing project of the traditional handcrafted gold brand Laopu Gold and the refinancing project of China Hongqiao, a global leader in the aluminum industry; as a joint global coordinator, it served the convertible bond project of ZTE Corporation, a telecommunications and information technology solutions provider.