CITIC Securities' net profit surpasses 30 billion yuan in 2025, Q4 performance declines quarter-over-quarter

March 26, 2026, when “the industry’s top brokerage firm” China Citic Securities unveiled its 2025 results: total assets first surpassed 2.08 trillion yuan, and attributable net profit first stood above the 30 billion yuan mark.

In 2025, China Citic Securities turned in a financial report that can only be described as impressive. The data shows that the company achieved full-year operating revenue of 74.854 billion yuan, up 28.79% year over year; net profit attributable to shareholders of the parent company was 30.076 billion yuan, up 38.58% year over year. This is the first time in China Citic Securities’ history that net profit has exceeded 30 billion yuan—equivalent to earning more than 80 million yuan net per day.

In terms of asset size, as of the end of 2025, the company’s total assets reached 2.08 trillion yuan, up 21.7% from the end of the prior year. According to Wind data, in 2025 the company’s operating revenue by quarter was 17.761 billion yuan, 15.278 billion yuan, 22.775 billion yuan, and 19.04 billion yuan; and attributable net profit was 6.545 billion yuan, 7.174 billion yuan, 9.44 billion yuan, and 6.917 billion yuan, respectively.

As can be seen, although the third quarter saw a clear surge in performance thanks to higher market trading activity (benefiting from the rally that kicked off at the end of September), China Citic Securities’ fourth-quarter revenue and net profit both dropped sharply quarter over quarter compared with the third quarter, but net profit still remained at a high level of 6.9 billion yuan.

In terms of business structure, China Citic Securities does not have any obvious case of “a strong suit and a weak suit.” The proportion of revenue from proprietary trading is about 36.9%, brokerage business accounts for 27.8%, asset management accounts for 19.1%, and investment banking accounts for 8.1%. This is a relatively balanced income structure: it retains the large customer base of traditional brokerage, and at the same time benefits from the profit-making ability of heavy-asset proprietary trading; meanwhile, the light-asset investment banking and asset management contribute stable incremental growth. Compared with some mid-sized and small brokerages that are overly reliant on proprietary trading or brokerage, China Citic Securities clearly has stronger resilience against risks.

In 2025, China Citic Securities also received a significant number of regulatory measures. According to incomplete statistics, from 2025 onward the company received at least 5 administrative penalty notices, covering businesses such as funds, futures, and investment advisory.

On January 17, 2025, the Shenzhen CSRC issued a warning letter to the company. The Shenzhen CSRC pointed out that the company had shortcomings in its transaction management for preventing securities margin trading and securities lending clients from “skimming cash by circumventing the margin requirement (绕标套现)” and that there were inadequate measures to identify and mitigate existing risks as well as to prevent incremental risks.

On June 23, 2025, the Zhejiang CSRC issued decisions on rectification to the Shaoxing branch and the Zhejiang branch, respectively. The Zhejiang CSRC pointed out that the Shaoxing branch had unlawful conduct including providing investment knowledge testing or providing answer sheets for account-opening knowledge assessments to clients; returning performance-based rewards to clients; and providing investment advice to clients that had not signed an investment advisory agreement with the company. This reflected that risk prevention and control in investor suitability management, internal controls, and clean conduct had not been properly carried out in the Shaoxing branch; in addition, the unlawful conduct of the Shaoxing branch reflected that the Zhejiang branch had not properly managed compliance for its affiliated branches under its jurisdiction.

On September 10, 2025, the Shandong CSRC issued a warning letter to China Citic Securities’ Shandong Jinan branch. The Shandong CSRC stated that employees of the Jinan branch engaged in fund sales activities before obtaining fund practitioner qualifications and did not use fund promotional and referral materials uniformly prepared by the company, reflecting that the Jinan branch failed to strictly regulate employees’ practice conduct and had inadequate compliance management.

On November 4, 2025, the Beijing CSRC issued a warning letter to Harvest Fund Management. The Beijing CSRC pointed out that Harvest Fund Management had issues in areas including investment research and operations management, internal control, sales management, and compensation management.

On December 29, 2025, the Beijing CSRC issued a warning letter to China Citic Futures’ Beijing Dongcheng branch. The Beijing CSRC stated that the Beijing Dongcheng branch of China Citic Futures had inadequate personnel management and failed to effectively implement the company’s internal control system.

Note: This article was created with the help of AI tools to collect and organize market data and industry information for writing.

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