600亿中资券商冲击港股IPO，首创证券由北京国资委控股82%

Core Viewpoint - Shouchuang Securities has officially initiated the "A+H" dual listing process by submitting an application to the Hong Kong Stock Exchange, with several major securities firms acting as joint sponsors [1][2]. Company Overview - Shouchuang Securities, established in 2000 and controlled by the Beijing State-owned Assets Supervision and Administration Commission, went public on the Shanghai Stock Exchange on December 22, 2022, with an initial stock price increase of 43.99%, reaching a market capitalization of 27.8 billion RMB [2]. - As of October 17, 2025, the company's market capitalization has grown to 60 billion RMB [2]. Financial Performance - For the fiscal years 2022, 2023, 2024, and the first half of 2025, Shouchuang Securities 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]. - The company achieved a year-on-year revenue growth of 0.44% and a net profit growth of 2.73% in the first half of the year [4]. Market Position - Among 42 A-share listed securities companies, Shouchuang Securities ranks fifth in revenue and tenth in net profit compound annual growth rate from 2022 to 2024 [2]. - In 2024, the company 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 firms [2]. Shareholding Structure - Prior to the listing, Shouchuang Group, a subsidiary of the Beijing State-owned Assets Supervision and Administration Commission, held a 56.77% stake in Shouchuang Securities, making it the controlling shareholder [6].