CITIC Securities Company (600030) Q4 2024 earnings summary

Executive summary

• Achieved strong growth across business segments, with net profit up 25% and total business scale reaching RMB 142.3 billion, a 3% increase year-over-year.

• Achieved operating revenue of RMB 63,789 million for 2024, up 6.19% year-over-year.

• Net profit attributable to shareholders reached RMB 21,704 million, a 10.06% increase year-over-year.

• Overseas business revenue and profit reached new highs, with international profit share rising from 3% in 2021 to 17% in 2024.

• Continued expansion into new markets, including Hong Kong, Asia Pacific, Europe, Middle East, and North America, with a focus on cross-border financial services.

Financial highlights

• Financing business scale grew 17% to RMB 140.6 billion; bond and equity business scale at RMB 1.6 billion.

• Product sales scale reached RMB 2.15 trillion, up 2%; investment advisory business scale up 26% to RMB 580 billion.

• CSI revenue up 41%, profit up 116%, total assets up 46%, and net assets up 84% year-over-year.

• Operating profit rose 9.16% to RMB 28,506 million compared to the previous year.

• Total assets grew to RMB 1,711,869 million, up 17.79% from the prior year.

Outlook and guidance

• Plans to further expand cross-border business, especially in Southeast Asia, Middle East, Europe, and the U.S., to meet global asset allocation needs.

• Focus on developing more markets, optimizing asset allocation, and seizing opportunities in fixed income, EQDs, and financing.

• Will continue to provide diversified financing channels and support for the private economy.