CITIC SEC's Executive Committee member and Chairman of CITIC SEC International, Li Chunbo, recently made a public appearance.
Speaking at the firm's 2026 Capital Market Forum, he expressed confidence in the accumulating positive momentum and enhanced resilience of China's capital markets.
He stated that CITIC SEC would continue to strengthen its core competitiveness and refine its global business footprint.
Shortly after these remarks, the company announced a significant H-share private placement, with all proceeds dedicated to advancing its international operations.
The plan involves issuing approximately 794 million new H-shares to its major shareholder, CITIC Financial Holdings, at HKD 23.13 per share, aiming to raise a total of RMB 16 billion.
These funds, up to RMB 16 billion, are earmarked for capital injection into its wholly-owned overseas subsidiary, CITIC SEC International.
The capital will primarily support cross-border and overseas capital intermediary businesses, including equity derivatives, commodities, and fixed income, as well as provide capital to licensed overseas subsidiaries and supplement offshore liquidity.
While this placement will increase the company's total share capital, potentially diluting existing shareholders' stakes slightly, the firm remains committed to bolstering its overseas presence.
Following years of business integration, compliance improvements, and performance consolidation, CITIC SEC's international operations are now on a stable growth trajectory.
The journey began with the acquisition of CLSA in 2012, which initially presented challenges like cultural clashes and management friction.
Stability was gradually achieved after 2016 when then-Chairman Zhang Youjun took direct oversight of the overseas business.
From January 2016 to September 2023, Zhang Youjun concurrently served as Chairman of both CITIC SEC International and CITIC CLSA, playing a pivotal role in shaping the firm's global network and consistently prioritizing international expansion.
In the latter half of 2022, Li Chunbo assumed the role of Chairman at CITIC CLSA Securities Group, followed by his appointment as Chairman and CEO of CITIC SEC International the next year, taking full charge of the firm's overseas business portfolio.
A Tsinghua University graduate, Li Chunbo joined CITIC SEC in 2001 and is a seasoned veteran with over two decades at the firm, having previously led the Research Department and the Institutional Equities Business Department.
Under his leadership, CITIC SEC's international business is experiencing rapid growth.
The revenue contribution from overseas regions has shown a steady increase, reaching 15.7% in 2023, 17.2% in 2024, and 20.7% in 2025.
In 2025, overseas operations generated revenue of RMB 15.518 billion, marking a 41.75% year-on-year increase, with a gross margin of 62.96%, up 3.95 percentage points from the previous year.
This growth accelerated from the 16.42% increase seen in 2024.
As of the end of 2025, the total assets of consolidated overseas subsidiaries amounted to RMB 490.662 billion, representing 23.57% of the group's total assets.
CITIC SEC International serves as the core platform for these overseas activities.
In 2025, CITIC SEC International reported total assets of USD 67.96 billion, with operating revenue surging 47.7% to USD 3.341 billion and net profit soaring 72.26% to USD 913 million.
By the end of 2025, CITIC SEC International operated four branches in Hong Kong through its subsidiaries, with 66 brokers under its front-office management system, an increase of four from the previous year.
Including other regions like Hong Kong, Macao, and Taiwan, the company employed a total of 2,102 staff outside mainland China.
As CITIC SEC International enters a phase of business expansion, its demand for incremental capital continues to rise.
In 2025, the subsidiary engaged in several guarantee arrangements, primarily comprising loan guarantees and medium-term note guarantees provided to its consolidated subsidiaries to facilitate business operations.
The outstanding balance of such guarantees amounted to approximately RMB 190.523 billion as of December 31, 2025.
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