Zheng Quan Ri Bao·2025-04-30 06:18Group 1 - The core viewpoint of the article highlights that the 42 listed securities firms achieved a total operating income of 508.847 billion yuan in 2024, representing a year-on-year growth of 7.32%, and a net profit attributable to shareholders of 147.835 billion yuan, which is a 15.88% increase compared to 2023 [1][2][3] Group 2 - In 2024, the investment banking business of the listed securities firms generated a net income of 30.608 billion yuan, a decline of 27.40% from 42.158 billion yuan in 2023, indicating a widespread downturn in the industry [3][4] - Only 6 out of the 42 listed securities firms, accounting for 14.29%, reported positive growth in their investment banking revenues, while most firms experienced significant declines [3][4] - The investment banking revenue constituted a small portion of the overall income for most firms, with only a few firms like CICC, CITIC Securities, and others exceeding 10% of their total operating income from investment banking [3][4] Group 3 - Smaller regional securities firms have shown resilience in their investment banking performance despite the competitive and declining market, often focusing on niche areas or specific regions [4][5] - Notable examples include Shouchao Securities, which achieved significant growth in asset-backed securities (ABS) issuance, and First Capital Securities, which focused on IPOs in the Beijing Stock Exchange [4][5] - Firms like Caida Securities have excelled in bond issuance, ranking close to the top 20 in the industry, with a more than fourfold increase in asset securitization business [4][5] Group 4 - Listed securities firms are increasingly emphasizing their role in supporting the real economy, with firms like Nanjing Securities and First Capital Securities focusing on providing comprehensive financial services tailored to key industries [5][6] - Caida Securities has also targeted the "new quality productivity" development needs, supporting regional economic growth through various bond issuances and mergers and acquisitions [5][6]