CICC(601995) 21世纪经济报道·2025-04-01 13:52Core Insights - The company reported a significant increase in revenue and net profit for 2024, achieving operating income of 21.333 billion yuan and a net profit of 5.694 billion yuan [1] - The investment banking sector, particularly in Hong Kong and the US, showed remarkable performance with substantial year-on-year growth in IPO underwriting amounts [1][5] - The company has maintained its leading position in the M&A market in China for ten consecutive years, completing 73 transactions in 2024 with a total deal value of approximately 50.588 billion USD [7] - Wealth management services have also seen impressive growth, with over 1.7 million new accounts opened in 2024 and a significant increase in the penetration of innovative trading services [9][10] Investment Banking Performance - The investment banking revenue reached 3.095 billion yuan in 2024, with the company ranking first in the market for underwriting Chinese enterprises' global IPOs [4] - The company completed 28 IPOs for Chinese enterprises, raising a total of 4.424 billion USD, while also maintaining a strong presence in A-share IPOs despite a decrease in the number of new listings [4][5] - The Hong Kong IPO underwriting amount was 3.835 billion USD, a year-on-year increase of 212.81%, while the US IPO underwriting amount reached 0.87 billion USD, up 135.14% [5][6] M&A Business - The company has been the top player in the Chinese M&A market for a decade, completing 73 transactions in 2024, with domestic deals accounting for 59 transactions worth approximately 31.789 billion USD [7] - Notable transactions include strategic restructuring for state-owned enterprises and significant A-share acquisitions [7] Wealth Management Growth - The wealth management division has successfully transformed, with a focus on technology and innovative investment products, leading to a product scale of nearly 370 billion yuan [9] - The company has introduced various investment products, including the "50" series, which have seen a 139% increase in holdings compared to the end of 2023 [9][10] International Expansion - The company has accelerated its internationalization strategy, opening a representative office in Vietnam and advancing the establishment of a branch in the UAE [12] - The company has a well-established presence in major global financial centers and aims to enhance its international influence through various business lines [11][12]