A -share "Period Entrance Examination" 丨 "British Brother" net profit breaks 10 billion yuan: investment and underwriting business increased against the trend of commodity trade, the performance of the majority of commodity trade

21st Century Business Herald Reporter Lei Chen intern Li Yuchen Beijing reported

With the end of the A -share report season, the transcript of CITIC Securities in the voucher industry finally appeared.

On the evening of August 29, CITIC Securities (600030.SH) disclosed the 2022 interim report. The company realized revenue of 34.885 billion yuan in the first half of the year, a year -on -year decrease of 7.52%; net profit attributable to mother The income was 0.76 yuan, a year -on -year decrease of 19.15%.

On the whole, due to the market conditions in the first half of the year, CITIC Securities' overall performance has declined slightly, but in the industry, the company is still sitting in the throne with the first net profit, and some business lines have a more retrograde growth performance.

At the performance briefing held on the morning of August 30, Wang Junfeng, the secretary of CITIC Securities, said: "In the first half of the year, the company's domestic investment banking business, solid income, and stock Yan's financial market business all maintained growth and contributed to stable returns. The downward impact of the market, the direct investment business and overseas income have declined, but they have maintained positive income. "

Asset management and commodity trade performance decline

According to statistics from the China Securities Association, 140 securities companies achieved revenue of 205.919 billion yuan in the first half of the year, a year -on -year decrease of 11.4%; net profit was 81195 billion yuan, a year -on -year decrease of 10.06%.

Under the low prosperity environment in the capital market, CITIC Securities' revenue and net profit are steadily sitting in the brokerage firms. As the only brokerage company with a net profit of 10 billion yuan in mother, it is 4.823 billion yuan higher than Guotai Junan, which is ranked second. Compared with other brokers, the decline in profit growth is relatively small.

From the perspective of the segment business line, CITIC Securities' performance in the first half of the year is halfway.

The semi -annual report shows that CITIC Securities brokerage business and asset management business revenue was 8.274 billion yuan and 6.091 billion yuan, respectively, a year -on -year decrease of 10.54%and 4.24%, respectively.

The reporter noticed that the revenue of asset management business declined, superimposed on the recent black swan incident, and the follow -up management and planning of the CITIC Securities Asset Management sector attracted the attention of investors.

It is understood that the scale of CITIC Securities asset management in the first half of the year was 1595.675 billion yuan, a slight decrease from the end of 2021; the market share of private asset management business was about 16.79%, ranking first in the ranking industry; Huaxia Fund, the holding subsidiary of the holding subsidiary, revenue of 3.633 billion yuan, a year -on -year decrease 0.52%; net profit of 1.058 billion yuan, an increase of 0.86%year -on -year.

Earlier on June 29, CITIC Securities announced that it would abandon the priority purchase right of 10%equity of the Holdings Huaxia Fund, which made the market speculation. On August 23, the company was high -profile "debt collection" by Fu Anna. The latter said that it was overdue after purchasing CITIC Securities' solidarity wealth management products.

At the performance briefing, a number of investors asked about the reason behind the relevant issues, and CITIC Securities did not give a direct answer to this.

However, from the semi -annual report, CITIC Securities will still be stable in the asset management business as a whole.

CITIC Securities stated that the company's asset management business will continue to adhere to the customer development strategy of "based on institutions and do large retail", and continue to improve customer development capabilities and comprehensive financial services. Its asset management subsidiary is also in the preparatory state and will apply for a public offering license.

In addition, affected by the slowdown in the activity of raised funds, other businesses such as commodity trade achieved revenue of 6.698 billion yuan, a significant decrease of 31.14%year -on -year, which is the hardest hit area for the company's performance in the first half of the year. The business mainly reflects the spot sales revenue of CSI, a subsidiary of CITIC Futures.

"The income and inventory changes of commodities are mainly based on market reasons. The company adopts corresponding business strategy adjustments. At present, the company's commodity trade is mainly domestic trade, and varieties are mainly industrial products related to futures standard varieties. Metal, etc. "Said Zhang Youjun, chairman of CITIC Securities.

Investment and underwriting business is the main growth point

As the two business lines that are on the trend, CITIC Securities' competitiveness in investment and underwriting business has strengthened in the first half of the year.

The semi -annual report shows that the company's securities underwriting business achieved revenue of 3.4 billion yuan, an increase of 30.36%year -on -year; the investment business achieved revenue of 10.412 billion yuan, an increase of 6.6%year -on -year. Press and stabilize important contributions.

In this regard, Yang Minghui, general manager of CITIC Securities, said that this is mainly contributed by the financial market business of the parent company. The profit model, various innovative businesses have developed steadily, and the bond investment business has obtained considerable returns. "

According to Zhang Youjun at the performance briefing, the current CITIC Securities' equity category mainly invested in A shares, Hong Kong stocks and some funds. Fixed income investment is currently mainly allocated in various types of assets related to fixed income in the country.

Looking at the future, the company will gradually begin to face the global asset layout.

The semi -annual report shows that during the reporting period, CITIC Securities International achieved operating income of 2.985 billion yuan and net profit of 843 million yuan, which better overcome the influence of significant downward trend in the international capital market. The investment strategy of different transaction targets has steadily advanced, and the yield rate exceeds the average level of the industry.

In addition, CITIC Securities also stated at the semi -annual report that the company's alternative investment business is actively developing new strategies, and has made new breakthroughs in various dimensions such as stability, anti -risk, and correlation. While effective dispersion risks, the diversified strategy also obtains more types of excess returns for the company. In the future, the company will gradually begin to face the global asset layout. The semi -annual report shows that CITIC Securities has achieved revenue of 2.985 billion yuan and net profit of 843 million yuan. The investment strategy of different transaction targets has steadily advanced, and the yield exceeds the average level of the industry.

In terms of investment banking business, CITIC Securities still maintains its market share.

In the first half of the year, CITIC Securities completed 68 orders for the main underwriting project of A shares, with a main inherited amount of 165.013 billion yuan, an increase of 15.96%year -on -year, and a market share of 22.37%. In the science and technology board and the GEM IPO project, CITIC Securities won 27 orders, with a main inheritance amount of 87.528 billion yuan, and the market share accounted for 28.06%.

The scale of the company's single underwriting is also expanding. The 21st Century Economic Herald reporter found that the data of CITIC Securities IPO issued in the first half of 2022 and the first half of 2021 was 27, but the main underwriting amount has been from 37.714 billion yuan in 2021, 87.528 billion yuan, an increase to the original 2.3 year -on -year 2.3 Note.

It is worth noting that in the past, the NEEQ and the North Stock Exchange's business, which was divided into small and medium -sized securities firms in the past, has gradually increased in the business proportion of CITIC Securities since 2022.

It is reported that in the first half of 2022, CITIC Securities, as a sponsor, has applied for the IPO project of the 4 Beibei Stock Exchange. As a new third board, the new third board brokerage firms have submitted 4 companies to list; a total of 19 listed companies that have been supervised, of which 12 have entered the innovation level Essence

The above numbers may be just a starting point for CITIC Securities. With the increasingly broad market opportunities of the New Third Board and the Bei Stock Exchange, CITIC Securities said that in the future, the company will continue to increase the coverage of innovative SMEs, expand high -quality customer resources, and strengthen the construction of the New Third Board and the Beijing Stock Exchange.

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