券商中国·2025-04-02 09:27Core Viewpoint - The article highlights the emerging competitive landscape of international business among leading Chinese securities firms, with Huatai Securities and CITIC Securities solidifying their top positions, while CICC and Guotai Junan form a strong second tier [1][2]. Group 1: Revenue and Growth - In 2024, Huatai International and CITIC Securities International reported revenues of 186.59 billion and 164.26 billion RMB, respectively, with year-on-year growth rates of 40.61% and 41.20%, leading the industry [3]. - CICC and Guotai Junan followed with revenues of 99.97 billion and 72.86 billion RMB, but their growth rates diverged, with Guotai Junan increasing by 46.13% while CICC saw a decline of 8.04% [3]. - Other firms like Galaxy International and Zhao Zheng International also reported revenue increases, achieving 21.73 billion and 11.15 billion RMB, respectively [3]. Group 2: Profitability - Huatai International achieved a net profit of 66.63 billion RMB in 2024, a significant increase of 258.52%, largely due to the sale of its subsidiary AssetMark [3][5]. - CITIC Securities International, Guotai Junan Financial Holdings, and Zhao Zheng International reported net profits of 38.51 billion, 13.23 billion, and 4.25 billion RMB, respectively, with growth rates around 110% [3]. - Galaxy International's net profit was 3.28 billion RMB, up 32.26%, while CICC's net profit decreased by 21.12% [4]. Group 3: Strategic Developments - Huatai Securities is enhancing its global value chain and expanding into mature and emerging markets, with a focus on improving trading, settlement, and risk management capabilities [5][6]. - CITIC Securities has made significant investments in international markets, achieving a revenue contribution of 17.2% from international business and completing a capital increase of approximately 65.32 billion RMB for its international subsidiary [7][8]. - CICC is expanding its international network and maintaining its leading position in various financing activities, despite a decline in international revenue [9][10]. Group 4: Business Expansion and Innovation - Guotai Junan is focusing on cross-border integration and enhancing its wealth management services, achieving a revenue increase of 34.49% in its international business [11][12]. - China Galaxy is expanding its international business network across Southeast Asia and enhancing its digital financial services [13]. - Zhao Zheng International is improving its cross-border financial services and has seen significant growth in its commission income from overseas trading [14].