CITIC Securities reported its 2025 financial results, revealing that its total assets exceeded 2.08 trillion yuan for the first time, while net profit attributable to shareholders surpassed the 30 billion yuan milestone.
In 2025, CITIC Securities delivered impressive financial performance. The company achieved annual operating revenue of 74.854 billion yuan, a year-on-year increase of 28.79%. Net profit attributable to shareholders reached 30.076 billion yuan, rising 38.58% compared to the previous year. This marked the first time in CITIC Securities' history that its net profit exceeded 30 billion yuan, equivalent to earning over 80 million yuan per day.
In terms of asset scale, the company's total assets reached 2.08 trillion yuan by the end of 2025, representing a 21.7% increase from the previous year-end. According to Wind data, CITIC Securities reported quarterly operating revenues of 17.761 billion yuan, 15.278 billion yuan, 22.775 billion yuan, and 19.04 billion yuan respectively throughout 2025. Net profits attributable to shareholders were 6.545 billion yuan, 7.174 billion yuan, 9.44 billion yuan, and 6.917 billion yuan across the four quarters.
Although the third quarter showed significant performance improvement due to increased market activity benefiting from the market rally that began in late September, CITIC Securities experienced substantial quarter-on-quarter declines in both revenue and net profit during the fourth quarter. However, net profit remained at a high level of 6.9 billion yuan.
Regarding business structure, CITIC Securities maintains a relatively balanced revenue composition without significant concentration in any single area. Proprietary business accounted for approximately 36.9% of revenue, brokerage business contributed 27.8%, asset management represented 19.1%, and investment banking constituted 8.1%. This balanced structure preserves the extensive customer base from traditional brokerage services while maintaining profitability from capital-intensive proprietary operations, with capital-light investment banking and asset management providing stable growth contributions. Compared to smaller securities firms that rely heavily on either proprietary trading or brokerage businesses, CITIC Securities demonstrates stronger risk resilience.
Throughout 2025, CITIC Securities received multiple regulatory penalties. Incomplete statistics indicate the company received at least five regulatory sanctions involving fund, futures, and investment advisory businesses.
On January 17, 2025, the Shenzhen Securities Regulatory Bureau issued a warning letter to the company, noting deficiencies in managing margin financing transactions to prevent "circumvention of regulatory requirements for cash extraction," along with inadequate measures for addressing existing risks and preventing new risks.
On June 23, 2025, the Zhejiang Securities Regulatory Bureau issued corrective orders to both the Shaoxing Branch and Zhejiang Branch. The regulator identified violations at the Shaoxing Branch including staff providing answers for investment knowledge tests or account opening assessments, returning performance incentives to clients, and offering investment advice to clients without signed investment advisory agreements. These violations reflected insufficient investor suitability management, internal controls, and integrity risk prevention at the Shaoxing Branch, while also indicating inadequate compliance management by the Zhejiang Branch over its subsidiaries.
On September 10, 2025, the Shandong Securities Regulatory Bureau issued a warning letter to the Jinan Branch, noting that employees engaged in fund sales activities before obtaining fund qualification certificates and failed to use standardized fund marketing materials, reflecting inadequate management of employee practices and compliance oversight.
On November 4, 2025, the Beijing Securities Regulatory Bureau issued a warning letter to China Asset Management, identifying issues in investment research management, internal controls, sales management, and compensation systems.
On December 29, 2025, the Beijing Securities Regulatory Bureau issued a warning letter to CITIC Futures' Dongcheng Branch in Beijing, citing insufficient personnel management and failure to effectively implement internal control systems.
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