CITIC Securities Company (600030) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was RMB 30.18 billion, down 4.18% year-over-year; net profit attributable to shareholders was RMB 10.57 billion, down 6.51% year-over-year.

• Basic EPS was RMB 0.69, down 8% year-over-year; ROE was 3.96%, down 0.31 percentage points.

• Cash dividend proposal: RMB 2.40 per 10 shares, pending shareholder approval.

Financial highlights

• Operating income: RMB 30.18 billion, -4.18% year-over-year.

• Net profit attributable to shareholders: RMB 10.57 billion, -6.51% year-over-year.

• Net cash flow from operating activities: RMB 37.43 billion, +252.84% year-over-year.

• Total assets: RMB 1.495 trillion, up 2.87% from end-2023.

• Asset management AUM: RMB 1.456 trillion at period end.

Outlook and guidance

• Plans to expand domestic and international client base, focus on high-quality growth, and enhance product innovation.

• Will continue to strengthen risk management and digital transformation.

• Expects to maintain leading market position in investment banking, asset management, and wealth management.