Nan Fang Du Shi Bao·2025-03-26 14:26Core Insights - CITIC Securities reported a revenue of 63.79 billion yuan for 2024, marking a year-on-year growth of 6.20%, with net profit attributable to shareholders increasing by 10.06% to 21.70 billion yuan [3][4]. Business Segment Performance - Brokerage business revenue reached 16.56 billion yuan, up 8.92%, indicating effective client resource expansion and service quality improvement [4][5]. - Asset management business generated 11.47 billion yuan, growing by 5.78%, maintaining stable development in the sector [4][5]. - Securities investment business saw a significant revenue increase of 23.95%, totaling 24.04 billion yuan, reflecting strong market insight and investment decision-making [4][5]. - Securities underwriting business revenue fell by 35.43% to 4.03 billion yuan, primarily due to a substantial decline in A-share equity financing and major asset restructuring transactions [4][5]. - Other business revenue decreased by 8.29% to 768.49 million yuan, with a slight improvement in gross margin [4][5]. Regional Performance - In Beijing, CITIC Securities reported a revenue of 741.34 million yuan, down 8.39%, continuing a trend of revenue decline [7][8]. - Shanghai's revenue was 1.07 billion yuan, a slight decrease of 0.58%, indicating a shift from positive to negative growth [9]. - In contrast, Guangdong province saw a revenue increase of 2.20%, reversing a previous decline, albeit with a negative gross margin [9]. Market Position and Achievements - CITIC Securities maintained its leading position in the domestic investment banking sector, achieving the highest market share in both equity and debt financing [10][11]. - The company completed 55 A-share underwriting projects with a total scale of 703.59 billion yuan, capturing a market share of 21.87% [10]. - In the bond market, CITIC Securities underwrote 5,088 bonds with a total scale of 20.91 trillion yuan, representing a year-on-year growth of 9.49% [10][11]. Client Growth - The number of clients increased by 12% to over 15.80 million, although this growth lagged behind the overall market increase of 16.6% in new accounts [12].