快报显示，中信证券积极融入经济社会发展全局，主动服务国家重大战略，加快一流投资银行和投资机 构建设，做深做实做精金融"五篇大文章"，经营业绩保持增长，各项业务稳健发展。 具体来看，2025年，中信证券实现营业收入748.3亿元，同比增长28.75%；实现归属于母公司股东的净 利润300.51亿元，同比增长38.46%；实现基本每股收益1.96元，同比增长39.01%；加权平均净资产收益 率10.58%。 2025年，中信证券持续加码资本补充与优化配置，资本优势进一步夯实。截至2025年12月31日，中信证 券资产总额为20835.34亿元，同比增长21.79%。雄厚的资本储备不仅强化了公司应对市场波动的风险抵 御能力，更为经纪、资管、投行、衍生品等多元业务的协同发展提供了保障。 值得关注的是，投行业务作为中信证券的传统优势板块，2025年延续领跑态势，在A股和港股两大市场 保持行业领先，发行定价能力、全球投资者覆盖、复杂项目执行等全球股权融资服务表现出色。其中， A股股权承销规模2721亿元，市场份额达24.5%，前五大IPO参与4单，前十大股权项目参与6单，前五大 现金再融资项目全部参与。港股市场拓展同样表 ...

值得注意的是，300.51亿元的归母净利润创下了中信证券的历史新高，也是其首次在年报中突破300亿元关口。湾财 社注意到，中信证券在年内一直维持的业绩的高增长，不论是中报、还是三季报，中信证券均实现了营收、净利润 的双增，且归母净利润在三季报中同样创下新高。 对于业绩增长的原因，中信证券表示，"2025年，国内资本市场整体呈上行态势，市场交投活跃度显著提升，投资 者信心增强，A股主要指数均实现上涨。公司积极把握市场机遇，稳步做大客户市场规模，经纪、投资银行、自营 业务等收入均实现较快增长；同时，公司坚定推进国际化布局，深化跨境服务能力，叠加香港市场的良好表现，公 司境外收入实现较快增长"。 此前，湾财社曾在《2025年股权融资潮起：规模反弹迎拐点，券商承销新局显现》一文中梳理了券商2025年的股权 承销情况。中信证券以61家的承销数量蝉联榜首，承销总金额达到了2416.68亿元，同样位居榜首。在股权承销数量 和总金额上，中信证券持续领跑行业，继续巩固行业"承销一哥"地位。 不过，在IPO承销数量上中信证券以17家位居第二，被年内重组落定的国泰海通以19家的数量超越。从IPO承销数量 来看，国泰海通对于中信证券 ...

1月14日晚，中信证券发布了2025年的业绩快报。数据显示，中信证券实现营业收入748.3亿元，同比增 加28.75%；归属于上市公司股东的净利润300.51亿元，同比增加38.46%。 不过，在IPO承销数量上中信证券以17家位居第二，被年内重组落定的国泰海通以19家的数量超越。从 IPO承销数量来看，国泰海通对于中信证券的业绩追赶可见一斑。 采写：南都·湾财社记者 吴鸿森 | 项目 | 2025年1-12月 | 2024年1-12月 | | 增减(%) | | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 调整后 | | 营业收入 | 74, 830 | 63, 789 | 58, 119 | 28.75 | | 营业利润 | 40, 140 | 28, 506 | 28, 506 | 40. 81 | | 利润总额 | 39.788 | 28, 418 | 28, 418 | 40. 01 | | 归属于母公司股东的净利 润 | 30, 051 | 21, 704 | 21, 704 | 3.46 | 值得注意的是，300.51亿元的归母净利润创下了中信 ...

Group 1 - The stock price of Shangwei New Materials has significantly increased since July 2025, leading to abnormal trading fluctuations, and the company may apply for a trading suspension if the price continues to rise [1] - CITIC Securities reported a net profit of 30.05 billion yuan for 2025, a year-on-year increase of 38.46%, driven by growth in brokerage, investment banking, and proprietary trading [2] - Huibo Technology's controlling shareholder will change to Tianjin State-owned Assets Supervision and Administration Commission after transferring 341 million shares, representing 25.60% of the total share capital [3] Group 2 - Caixun Co. plans to issue convertible bonds to raise up to 1.46 billion yuan for projects including the construction of an intelligent computing center and AI application development [4] - Jinhaitong expects a net profit of 160 to 210 million yuan for 2025, a year-on-year increase of 103.87% to 167.58%, due to rising demand in the semiconductor packaging sector [5] - Aoyuan Ceiling announced that it may apply for a trading suspension if its stock price continues to rise significantly [6] Group 3 - Yanshan Technology's commercialization of brain-machine interface and brain-like intelligence business is still in the early stages, with no revenue generated yet [7] - Haige Communication expects a net loss for 2025 due to industry client adjustments and increased investment in innovative businesses [9] - Hu Silicon Industry anticipates a net loss of 1.28 to 1.53 billion yuan for 2025, with a significant increase in losses compared to the previous year [10] Group 4 - Guangyun Technology may apply for a trading suspension if its stock price continues to rise abnormally [11] - Wenkang Development plans to swap its main assets and liabilities with 100% equity of Wenkang Mining and Luzhong Mining, facilitating a business transformation [12] - Jinqiao Information clarified that its AI-related judicial business is not its main business and does not significantly impact overall performance [13] Group 5 - Yonghe Co. expects a net profit increase of 110.87% to 150.66% for 2025, while CITIC Bank anticipates a 2.98% increase in net profit to 70.62 billion yuan [14] - Guotou Power's power generation volume decreased by 8.12% year-on-year for 2025, while Jiamei Packaging expects a net profit decrease of 43% to 53% [14] - Shengke Communication anticipates a net loss of 120 to 160 million yuan for 2025 [14]

Core Viewpoint - CITIC Securities reported a significant increase in net profit and revenue for the year 2025, reflecting a positive trend in the Chinese capital market and the company's strategic growth initiatives [1] Financial Performance - In 2025, CITIC Securities achieved a net profit attributable to shareholders of 30.051 billion RMB, representing a year-on-year growth of 38.46% [1] - The company recorded an operating revenue of 74.83 billion RMB, which is a 28.75% increase compared to the previous year [1] - Operating profit saw an increase of over 40% year-on-year [1] Asset Growth - As of the end of 2025, CITIC Securities' total assets reached 2,083.534 billion RMB, marking a growth of 21.79% from the end of 2024 [1] Market Conditions and Strategic Initiatives - The growth in operating profit and other key metrics is attributed to the overall upward trend in the Chinese capital market, with increased trading activity and enhanced investor confidence [1] - The company capitalized on market opportunities, expanding its client market size and achieving rapid growth in brokerage, investment banking, and proprietary trading revenues [1] - CITIC Securities is also focused on international expansion, enhancing cross-border service capabilities, and benefiting from strong performance in the Hong Kong market, leading to a notable increase in overseas revenue [1]

Company News - CITIC Securities (06030.HK) reported a revenue of RMB 74.83 billion for the fiscal year 2025, representing a year-on-year increase of 28.75%, and a net profit of RMB 30.05 billion, up 38.46% year-on-year [2] - CITIC Bank (00998.HK) announced a total revenue of RMB 212.48 billion for 2025, a slight decrease of 0.55% year-on-year, while net profit increased by 2.98% to RMB 70.62 billion [2] - Beijing North Star Industrial (00588.HK) expects to continue reporting losses for the fiscal year ending December 31, 2025 [3] - Yuexiu Property (00123.HK) reported a cumulative contract sales amount of approximately RMB 106.21 billion for 2025, a decline of about 7.3% year-on-year, achieving 88.1% of its sales target [3] - Jiao Ge Peng You Holdings (01450.HK) achieved a total GMV of approximately RMB 6.49 billion in Q4 2025, a year-on-year increase of about 4.34%, with a cumulative GMV of RMB 16.02 billion for the year, up 6.23% [3] - Sai Jing Technology (00580.HK) anticipates a revenue of approximately RMB 2.25 billion for 2025, reflecting a year-on-year increase of about 40% due to increased revenue from flexible transmission business [3] - China General Nuclear Power New Energy (01811.HK) reported a cumulative power generation of 19,000 GWh for 2025, a decrease of 0.8% year-on-year, with variations in different energy sources [3] - Morning News Technology (02000.HK) reported an unaudited revenue of HKD 397 million for 2025, a decrease of 7.4% year-on-year [3] Financing and Buyback Activities - Chow Tai Fook Enterprises (00659.HK) applied for the registration of debt financing instruments totaling no more than RMB 5 billion [7] - Tencent Holdings (00700.HK) repurchased 1.006 million shares at a cost of approximately HKD 636 million, with repurchase prices ranging from HKD 626 to HKD 638 [7] - Xiaomi Group-W (01810.HK) repurchased 4 million shares for approximately HKD 151 million, with repurchase prices between HKD 37.61 and HKD 42.50 [7] Research and Development - Hutchison China MediTech (00013.HK) announced the publication of SACHI III study results in The Lancet [4] - Laka Pharmaceuticals-B (02105.HK) had its clinical trial application for the new drug LAE118 accepted by the U.S. FDA [5] Other News - Yuanxu Technology (08637.HK) announced a short suspension of trading starting January 14, pending the release of insider information [6] - Haidilao (06862.HK) redeemed USD 600 million of its 2.150% notes due in 2026 [2]

来源：财经新一线 来源：财经新一线 ...

此次业绩修复的背后，是A股市场交投活跃度的显著提升与IPO市场的回暖。 2025年，A股市场的总成交额首破400万亿元，同比增长超6成；同期A股IPO融资额达到1317.71亿元，同比激增超9成。 水大鱼大，头部券商成为这一轮复苏周期的大赢家。 "公司积极把握市场机遇，稳步做大客户市场规模，经纪、投资银行、自营业务等收入均实现较快增长。"中信证券表示。 从行业来看，2025年最备受瞩目的事件莫过于新组建的"航母级"券商国泰海通对于中信证券"券商一哥"地位的威胁。 "券商一哥"终于结束了为期3年的业绩停滞。 1月14日，中信证券发布的业绩快报显示，2025年收入、归母净利润分别为748.3亿元、300.51亿元，分别同比增长了28.75%、38.46%。 这是2022年以来，中信证券首次重回两位数同比增长区间。 在此之前，受市场波动影响，中信证券经历了漫长的业绩磨底期。 目前，中信证券在手储备项目的拟募资额高达715亿元，且坐拥华润新能源这类市场瞩目百亿明星大单。 今年初以来，市场仍保持着较高的活跃度。1月14日，A股全市场成交额高达3.99万亿元，距离4万亿大关仅仅一步之遥，同时这也是A股连续第三天刷新A股 ...

Core Viewpoint - CITIC Securities (06030) reported a significant increase in its 2025 performance metrics, reflecting a robust domestic capital market and enhanced investor confidence [1] Financial Performance - The company achieved operating revenue of RMB 74.83 billion, representing a year-on-year growth of 28.75% [1] - Net profit attributable to shareholders reached RMB 30.05 billion, marking a year-on-year increase of 38.46% [1] - Basic earnings per share stood at RMB 1.96 [1] Market Conditions - The overall domestic capital market showed an upward trend in 2025, with significantly increased trading activity and improved investor confidence [1] - Major A-share indices experienced growth during the year [1] Business Growth - The company capitalized on market opportunities, steadily expanding its client market size [1] - Revenue from brokerage, investment banking, and proprietary trading all saw rapid growth [1] - The company is committed to advancing its internationalization strategy and enhancing cross-border service capabilities, contributing to a notable increase in overseas revenue [1] - The strong performance in the Hong Kong market further supported the company's growth [1]

Group 1 - CITIC Securities reported a net profit of 30.15 billion yuan for 2025, representing a year-on-year increase of 38.46% [1] - The company's operating revenue reached 74.83 billion yuan, up 28.75% year-on-year, driven by an active domestic capital market and increased investor confidence [1] - The company is expanding its international presence and enhancing cross-border service capabilities, resulting in significant growth in overseas revenue [1] Group 2 - Hongda Electronics plans to invest 1 billion yuan to establish a semiconductor special device wafer manufacturing and testing base in Wuxi [2] - The project will be implemented in two phases, with the first phase from 2026 to 2028 requiring an investment of 300 million yuan [2] - The second phase will depend on the first phase's investment outcomes and market conditions, with a planned investment of 700 million yuan [2] Group 3 - Upwind New Materials announced that if its stock price continues to rise significantly, it may apply for a trading suspension for further review [3] - The company's stock has seen substantial increases since July 2025, leading to concerns about irrational speculation due to its high price-to-earnings ratio [3] - The company's intelligent robot business is still in the development stage and has not yet generated revenue or profits [3] Group 4 - Keda Manufacturing is planning to acquire minority stakes in its subsidiary Guangdong Tefu International Holdings through a combination of share issuance and cash payment [4] - The transaction is expected to constitute a related party transaction and a major asset restructuring, with stock suspension starting from January 15, 2026 [4] Group 5 - Unigroup Guowei intends to purchase 100% equity of Ruineng Semiconductor Technology through share issuance and cash payment [5] - The transaction aims to enhance the company's power semiconductor product matrix and improve its semiconductor industry chain layout [5] - The stock and convertible bonds will resume trading on January 15 [5] Group 6 - Wenkang Development plans to swap its main assets and liabilities related to its original business with 100% equity of Wenkang Mining and Luzhong Mining [6] - This asset swap is aimed at transforming the company's main business and integrating high-quality iron ore resources [6] - The stock will resume trading on January 15, 2026 [6] Group 7 - Aerospace Development's major shareholder, China Aerospace System Engineering Co., Ltd., reduced its holdings by 20.64 million shares between December 15, 2025, and January 13, 2026 [7][8] Group 8 - Tiandi Online's subsidiary is involved in a contract fraud case amounting to 55.09 million yuan, and the company has reported the incident to the police [9] - The management has formed a special working group to investigate and manage the situation, recovering 15.87 million yuan so far [9] Group 9 - Caixun Co., Ltd. plans to issue convertible bonds to raise no more than 1.46 billion yuan for projects including the construction of an intelligent computing center [10] - The intelligent computing center project will add 12,000P computing power services [10] Group 10 - Huibo Pu will change its actual controller to the Tianjin State-owned Assets Supervision and Administration Commission following a share transfer agreement [11] - The stock will resume trading on January 15, 2026 [11] Group 11 - Tianli Lithium Energy's subsidiary will undergo maintenance from January 14 to February 28, 2026, expected to reduce lithium iron phosphate output by 1,500 to 2,000 tons [12] - The maintenance is aimed at ensuring stable and safe production operations [12]