CSC(601066) 第一财经·2025-03-28 14:42Core Insights - The new chairman Liu Cheng and general manager Jin Jianhua of CITIC Securities made their first appearance at the 2024 performance meeting, addressing key market concerns regarding the construction of a first-class investment bank and the international expansion of Chinese securities firms [1][2] Group 1: Financial Performance - In 2024, CITIC Securities achieved an operating income of 21.129 billion yuan and a net profit attributable to shareholders of 7.223 billion yuan [1] - The investment banking business faced pressure due to a significant reduction in A-share financing scale, impacting the overall revenue from this segment [1] Group 2: Strategic Development - CITIC Securities has outlined a "two-step" roadmap to enhance its investment banking capabilities, aiming to solidify its domestic comprehensive strength within five years and reach a leading level comparable to top-tier institutions by 2030 [1] - The second phase targets achieving first-class status in China by 2035, with aspirations to develop international competitiveness and market leadership [1] Group 3: International Expansion - The acceleration of Chinese securities firms' international expansion is seen as a significant move towards the opening of China's capital markets, with CITIC Securities focusing on strengthening its business in Hong Kong and optimizing integrated management [2] - The company aims to expand global partnerships in investment banking, brokerage, fixed income, and derivatives while enhancing risk control during internationalization [2] Group 4: Technological Innovation - The performance meeting also addressed the application of large models like DeepSeek, which has gained global traction and presents both opportunities and challenges for the securities industry [2] - CITIC Securities plans to explore AI technology applications in various areas, including intelligent customer service, investment advisory, research, investment, office automation, and risk compliance [2]