Core Viewpoint - CITIC Securities demonstrated strong growth in its 2025 interim report, achieving record-high performance across multiple metrics, including revenue and net profit [1][2]. Financial Performance - In the first half of 2025, CITIC Securities reported operating revenue of 33.039 billion yuan, a year-on-year increase of 20.44% [1]. - The net profit attributable to shareholders reached 13.719 billion yuan, reflecting a year-on-year growth of 29.8%, marking the best mid-year performance in history [1]. - Basic earnings per share were 0.89 yuan, up 28.99% year-on-year, with a weighted average return on equity of 4.91%, an increase of 0.95 percentage points [1]. Capital and Asset Management - As of June 30, 2025, CITIC Securities' total assets amounted to 1.807731 trillion yuan, an increase of 97.02 billion yuan or 5.67% from the end of the previous year [1]. - The robust capital base enhances the company's ability to withstand market fluctuations and supports its expansion in various business sectors, including brokerage, asset management, investment banking, and derivatives [1]. Business Segments Performance - The brokerage business generated revenue of 9.319 billion yuan, up 21.11% year-on-year [2]. - Asset management revenue reached 6.017 billion yuan, increasing by 22.32% [2]. - Securities investment revenue was 14.497 billion yuan, reflecting an 8.15% growth [2]. - The securities underwriting business earned 2.054 billion yuan, a 19.16% increase [2]. - Other business segments contributed 1.152 billion yuan in revenue [2]. International and Wealth Management - CITIC Securities completed 30 overseas equity projects, with an underwriting scale of 2.989 billion USD, maintaining a leading position in domestic equity financing [2]. - The wealth management client base exceeded 16.5 million, with managed client assets surpassing 12 trillion yuan, both up 4% from the previous year [3]. - The company’s asset management scale totaled 1.556242 trillion yuan, with a market share of 12.83% in private asset management, ranking first in the industry [3]. International Business Growth - International business revenue reached 1.49 billion USD, a 53% increase year-on-year, with net profit growing by 66% to 390 million USD [4]. - The company is expanding its global footprint in wealth management, with overseas product sales and revenue doubling year-on-year [3][4]. Dividend Distribution - CITIC Securities announced a cash dividend of 2.9 yuan per 10 shares, totaling 4.298 billion yuan, which is 32.53% of the net profit attributable to shareholders [4][5]. - This marks the second consecutive year of mid-term dividends, with the payout amount increasing from 2.4 yuan to 2.9 yuan per 10 shares, reflecting a growth of over 20% year-on-year [5].