CITIC Securities 2025 Operating Performance: Operating revenue of 74.854 billion yuan, up 28.79%, net profit attributable to shareholders of 30.076 billion yuan, up 38.58% year-on-year.

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On the evening of March 26, Citic Securities officially released its 2025 annual report. The company’s key financial indicators hit record highs. Attributable to parent net profit first exceeded 30 billion yuan, setting the best performance in history. In addition to its impressive financial results, Citic Securities also achieved positive results in serving new quality productive forces and helping residents preserve and increase their wealth, demonstrating its proactive efforts to strengthen its sense of mission, anchor its functional positioning, and better serve the construction of a strong financial nation.

Accelerate the development of a first-class investment bank and investment institutions—operating performance hits the best level in history

In 2025, Citic Securities stayed aligned with the national strategy for building a strong financial nation. It upheld solid foundations and steady operations, continuously enhanced core competitiveness and risk control capabilities, achieved operating performance at the best level in history, and kept all its businesses maintaining industry-leading positions. According to disclosures in its 2025 annual report, Citic Securities achieved full-year operating revenue of 74.854 billion yuan, up 28.79%; achieved net profit attributable to shareholders of 30.076 billion yuan, up 38.58%; as of the end of 2025, the company’s total assets were 20,819.03 billion yuan, up 21.70% from the beginning of the year; shareholders’ equity attributable to the parent company was 3,199.30 billion yuan, up 9.15% from the beginning of the year. All major financial indicators reached record highs. In addition, Citic Securities further enhanced market influence and competitiveness across its businesses. For wealth management, it fully served residents’ wealth growth; the scale of assets under custody ranked first in the industry. For investment banking, it remained comprehensively ahead; the amount of A-share equity underwriting maintained a market-leading position; the amount of domestic bond underwriting ranked first among peers. For asset management, it strengthened investment research and maintained a leading position in assets under management. In equity derivatives, FICC, and financing-related businesses, it strengthened core asset allocation and investment/trading capabilities, keeping business scale at a leading level in the market. In international business, Citic Securities’ share of overseas business income steadily increased; Citic Securities International’s operating performance reached a new high again, and progress was made in its internationalization strategy.

Fully leverage the advantages of a full suite of licenses for integrated financial services—help drive high-level scientific and technological self-reliance and self-strengthening

In 2025, Citic Securities closely followed national strategic deployments, used professional capabilities to empower the real economy and used capital to support technological innovation, and continuously provided integrated financial services to support the development of new quality productive forces. It guided more financial resources to key links that enable technological self-reliance and self-strengthening. The company fully leveraged the function of being a main “service provider” for direct financing, deepened equity and bond financing services for technology enterprises. In total for the year, the combined equity underwriting scale for the Sci-Tech Innovation Board, the ChiNext Board, and the Beijing Stock Exchange was 54.7 billion yuan; the underwriting scale for Sci-Tech bonds was 235.4 billion yuan—both ranked first in the market. It increased efforts to serve technology enterprises in mergers and acquisitions and restructuring, completing M&A deal transaction scale in China of 282.9 billion yuan. The global M&A transaction scale for Chinese enterprises was 77.2 billion USD—both ranked first in the market. The company fully leveraged the function of its investment business as a “source of fresh water,” focusing on implementing the guidance of “investing early, investing in small sizes, and investing in hard-core technology.” It injected long-term capital and patient capital into new quality productive forces enterprises. Citic Securities’ investments and Citic Jinshi’s new investment重点 focused on strategic emerging industries.

Actively fulfill the role of a professional “manager” of social wealth—help residents preserve and increase their wealth

In 2025, Citic Securities actively practiced the concept of finance for the people. It emphasized people-centered value orientation, overall optimized service quality across wealth management, asset management, financial markets and other businesses, and fully leveraged the professional “manager” function for social wealth to help residents preserve and increase their wealth. As of the end of 2025, the company’s assets under custody for client accounts exceeded 15 trillion yuan, assets under management were about 4.8 trillion yuan, and the holding scale of financial products exceeded 800 billion yuan. All of these recorded significant growth compared with the end of the previous year, providing broad investors with full-range, high-quality, multi-tier inclusive financial services. The company participated comprehensively in the construction of a multi-tier, multi-pillar pension security system. Investment and management scale for the “three pillars” of pension exceeded 1 trillion yuan. It served more than 200 large and medium-sized corporate annuity clients. Multiple pension target funds and index funds were included in the individual pension product catalog, effectively meeting the needs for long-term and stable allocation of pension funds.

Continuously improve the level of cross-border integrated financial services—promote high-level two-way opening of capital markets

In 2025, the company fully leveraged the role of the financial bridge and纽带, continuously enhanced the level of cross-border integrated financial services, and better supported Chinese companies to “go global” and international capital to “bring in.” It contributed to high-level two-way opening of China’s capital markets. The company firmly advanced its international development strategy, focusing on enhancing three core capabilities: “business capabilities, customer markets, and operational management,” and vigorously promoting the development of overseas businesses. In accordance with Hong Kong financial reporting standards, for 2025 full year, Citic Securities International achieved operating revenue of 3.3 billion USD and net profit of 0.9 billion USD, up 48% and 72% year-on-year, respectively—both reaching record highs. The company actively leveraged its own professional capabilities and global client resources, assisting the SSE and SZSE in organizing cross-border communication activities between A-share listed companies and international investors, building communication bridges for global investors to understand China’s capital markets and seize opportunities in China’s investments. The company held the “China Investor Day” event and built the 2025 “China Enterprise Day” exchange platform. Through globalized deployment, cross-institution coordination, and innovative content design, it became a strategic platform linking China’s high-quality leading enterprises with global capital.

Steady improvement in shareholder returns and value creation capability—creating the highest dividend amount in history

In 2025, Citic Securities adhered to the operating philosophy of creating value for shareholders, continuously increased shareholder returns, and strengthened communication and engagement with investors. The company’s full-year ROE was 10.58%, up 2.49 percentage points year-on-year; shareholder returns and value creation capability improved steadily. According to the 2025 profit distribution plan approved by the company’s board of directors, Citic Securities’ total cash dividend for the full year reached 10.374 billion yuan (including tax). Compared with the total cash dividends for 2024, this increased by nearly 35% year-on-year, setting the highest dividend amount record since the company’s establishment. Since its A-share listing in 2003, the company has continued to conduct cash dividends for 24 consecutive years. Cumulatively, it has implemented dividends exceeding 93 billion yuan. This fully reflects the company’s philosophy of sharing operating results with all shareholders. In addition, the company strengthened investor communication and engagement through high-quality information disclosure, day-to-day investor relationship communication, annual performance briefings, open days, and other means. Over the full year, it reached more than 300 domestic and overseas institutional investors and analysts in total, received the SSE’s highest information disclosure rating of A, and won the China Association of Listed Companies’ “Best Practice in Annual Report Performance Briefings” for four consecutive years.

Practice the sustainable development philosophy and continuously enhance the quality and effectiveness of ESG work

In 2025, Citic Securities integrated ESG elements into daily business and operational management, continuously improved the quality and effectiveness of ESG work, and maintained an AA ESG rating from MSCI ESG Ratings. The company deepened its efforts across the full green financing chain. The underwriting scale of green bonds (including carbon neutrality) was 77.6 billion yuan, ranking first among peers. It took the lead in implementing benchmark projects such as the country’s first floating-rate green financial bonds for commercial banks and released multiple innovative tools and products for the whole market, including the first carbon price spread index. The company updated its statement on responsible investing, incorporating ESG factors into investment decisions. The related investment scale exceeded 70 billion yuan. It introduced and launched 351 wealth management products with ESG-related themes, with a holding scale of 10.9 billion yuan. The company fully supported rural revitalization. The underwriting scale of “three agriculture” bonds, rural revitalization bonds, and bonds for revolutionary old areas was 19.3 billion yuan, ranking first among peers. It continued to carry out distinctive public welfare activities, with external donations and consumption assistance exceeding 67 million yuan throughout the year. In addition, the company strengthened ESG philosophy cultivation. Throughout the year, it organized 101 ESG-themed training sessions, with participation by nearly 160,000 employees. It also continuously strengthened compliance management; the practice quality evaluation for investment banking business ranked all A for four consecutive years.

2026 is the first year of the “15th Five-Year Plan”—a year when it begins. Citic Securities will enter a critical period for building a first-class investment bank and investment institutions. Faced with new historical opportunities, Citic Securities will thoroughly implement the spirit of the 4th Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the arrangements of the “Government Work Report.” It will adhere to drawing one blueprint from start to finish, anchor on goals, and work with determination and practical actions, serving the development of the real economy with more professional service capabilities and more practical working measures. It will strive to ensure a strong start and good first steps for the “15th Five-Year Plan,” and make even greater new contributions to accelerating the development of a strong financial nation.

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