中信证券整合子公司进一步优化业务范围

Core Insights - CITIC Securities has submitted two applications to the China Securities Regulatory Commission (CSRC) to reduce its business scope, which has been interpreted by the market as a follow-up to its acquisition of Guangzhou Securities, now renamed CITIC Securities South China [1][2] Group 1: Business Adjustments - The two applications submitted by CITIC Securities include requests to reduce various business types such as securities brokerage, investment consulting, financial advisory related to securities transactions, proprietary trading, asset management, underwriting, and distribution of financial products [1] - To avoid competition with its subsidiaries, CITIC Securities has redefined the business scope of its subsidiaries, positioning CITIC Securities South China to operate specific businesses in designated regions, while CITIC Securities will handle other business areas [2] Group 2: Financial Performance - CITIC Securities South China, which was established in 1988 and merged into CITIC Securities in January 2020, reported a revenue of 1.113 billion yuan in 2024, marking a growth of 33.95%, and an operating profit of 431 million yuan, reflecting a growth of 17.76% [2]