首创证券冲刺第14家A+H上市券商，上半年营收净利双增

Core Viewpoint - 首创证券 has officially initiated its "A+H" dual listing process by submitting an application to the Hong Kong Stock Exchange, aiming to become the 14th "A+H" listed brokerage in China [1][2]. Group 1: Company Overview - 首创证券 was established in 2000 and is controlled by the Beijing State-owned Assets Supervision and Administration Commission. It was listed on the Shanghai Stock Exchange on December 22, 2022, with an initial stock price increase of 43.99%, reaching a total market capitalization of 27.8 billion RMB [2]. - As of October 17, 2025, the market capitalization of 首创证券 has grown to 60 billion RMB [2]. Group 2: Financial Performance - For the fiscal years 2022, 2023, 2024, and the first half of 2025, 首创证券 reported revenues of 2.519 billion RMB, 2.970 billion RMB, 3.588 billion RMB, and 1.845 billion RMB respectively, with corresponding net profits of 554.936 million RMB, 701.099 million RMB, 985.147 million RMB, and 490.182 million RMB [3][4]. - In the first half of 2025, 首创证券's revenue increased by 0.44% year-on-year, while net profit grew by 2.73% [4]. Group 3: Growth Metrics - According to Frost & Sullivan, from 2022 to 2024, 首创证券's revenue and net profit compound annual growth rates rank fifth and tenth respectively among 42 A-share listed securities companies in China [2]. - By 2024, 首创证券 is projected to have the highest average return on total assets and the seventh highest return on equity among the aforementioned A-share listed securities companies [2].