
Core Viewpoint - The leading securities firms in China, including CITIC Securities, China Galaxy, and others, reported significant growth in their mid-year performance for 2025, indicating a strong year for the brokerage industry [1][9]. Group 1: CITIC Securities Performance - CITIC Securities achieved a record net profit attributable to shareholders of 13.719 billion yuan, marking a year-on-year increase of 29.80% [3]. - The company reported total operating revenue of 33.039 billion yuan, up 20.44% year-on-year, and total assets exceeding 1.8 trillion yuan, a 5.67% increase from the previous year [3]. - The return on equity (ROE) reached 4.91%, an increase of 0.95 percentage points compared to the previous year [3]. - A cash dividend of 2.90 yuan per 10 shares was proposed, totaling 4.298 billion yuan, which represents 32.53% of the mid-year net profit [3]. Group 2: Business Segments of CITIC Securities - Brokerage business revenue was 9.319 billion yuan, a year-on-year increase of 21.11% [7]. - Asset management revenue reached 6.017 billion yuan, up 22.32% year-on-year, with total asset management scale reaching 1.56 trillion yuan [7]. - The company completed 36 A-share underwriting projects with a total underwriting scale of 148.528 billion yuan, capturing a market share of 19.19% [8]. - International business revenue grew by 53% year-on-year, reaching 1.49 billion USD, with net profit increasing by 66% to 390 million USD [8]. Group 3: Performance of Other Leading Securities Firms - China Galaxy reported operating revenue of 13.747 billion yuan, a 37.71% increase, and a net profit of 6.488 billion yuan, up 47.86% [10]. - China Merchants Securities achieved operating revenue of 10.52 billion yuan, a 9.64% increase, and a net profit of 5.186 billion yuan, up 9.23% [10]. - CITIC Construction Investment reported operating revenue of 10.74 billion yuan, a 19.93% increase, and a net profit of 4.509 billion yuan, up 57.77% [11]. - Guotai Junan Securities saw a significant increase in net profit by 144.19%, reaching 1.111 billion yuan [12].