Xin Lang Cai Jing·2025-09-03 03:58Core Viewpoint - UBS reports that CITIC Securities' net profit for the first half of the year increased by 58% year-on-year, aligning with earlier profit warnings [1] Group 1: Financial Performance - In Q2, CITIC Securities' net profit grew by 64% year-on-year, accelerating from a 50% increase in Q1 [1] - UBS has raised its earnings forecasts for CITIC Securities for 2025 to 2027 by 4% to 6% [1] Group 2: Market Predictions - UBS anticipates that the average daily trading volume in the market will reach 1.6 trillion, 1.6 trillion, and 1.7 trillion yuan for the years 2025, 2026, and 2027 respectively [1] - The forecast for the margin financing and securities lending balance is expected to reach 2.4 trillion, 2.6 trillion, and 2.7 trillion yuan for the same years [1] Group 3: Investment Outlook - UBS expects continued improvement in market conditions, favorable potential regulatory environments, and strong capital inflows to drive overall profit enhancement [1] - UBS maintains a "Buy" rating for CITIC Securities, raising the target price for H-shares from 13.8 HKD to 16.9 HKD [1]