Peng Pai Xin Wen·2025-03-26 14:33Core Viewpoint - CITIC Securities achieved double growth in revenue and net profit for 2024, with significant increases in its securities investment business revenue [3][4][7] Financial Performance - The company reported total revenue of 63.79 billion yuan, a year-on-year increase of 6.20% [4][10] - Net profit attributable to shareholders reached 21.70 billion yuan, up 10.06% from the previous year [4][10] - Total assets grew to 1.71 trillion yuan, reflecting a 17.71% increase year-on-year [4][10] - Basic earnings per share rose to 1.41 yuan, an increase of 8.46% [3][4] Quarterly Breakdown - In Q4 2024, CITIC Securities recorded the highest revenue of 17.65 billion yuan, while the revenues for the first three quarters were 13.75 billion yuan, 16.43 billion yuan, and 15.96 billion yuan respectively [6][5] - The net profit for Q4 was 4.90 billion yuan, with Q1, Q2, and Q3 net profits being 4.96 billion yuan, 5.61 billion yuan, and 6.23 billion yuan respectively [5][6] Business Segments - Securities investment business generated 24.04 billion yuan in revenue, a 23.95% increase year-on-year [7][9] - Brokerage business revenue was 16.56 billion yuan, up 8.92% [7][9] - Asset management business revenue reached 11.47 billion yuan, increasing by 5.78% [7][9] - However, securities underwriting revenue fell to 4.03 billion yuan, a decrease of 35.43% [8][9] Market Position - The company managed over 12 trillion yuan in client assets for wealth management [8] - It completed 55 A-share main underwriting projects with a total underwriting scale of 703.59 billion yuan, capturing a market share of 21.87% [8] - The debt financing underwriting scale exceeded 2 trillion yuan, representing 7.07% of the total market and 15.02% of the securities firms' total underwriting [8] Dividend Policy - CITIC Securities plans to distribute a total cash dividend of 7.71 billion yuan, which is 36.88% of the net profit attributable to shareholders, marking a slight increase from the previous year [10][11] - The company has maintained a cash dividend distribution for 22 consecutive years since its A-share listing in 2003 [10][11] Future Strategy - The company aims to enhance its investment banking capabilities and expand its market presence, focusing on internationalization and digital transformation [11] - Plans include strengthening its global financial market layout and improving IT and settlement capabilities [11] Executive Compensation - The chairman's remuneration significantly decreased to 2.30 million yuan in 2024 from 5.05 million yuan in 2023 [12]