Recently, CITIC Securities released its annual performance report for 2023. The report shows that both the company's revenue and net profit declined, with revenue and net parent profit decreasing by 7.74% and 7.49%, respectively.
Regarding its business segments, the leading broker's major businesses all saw declines to varying degrees. Brokerage business revenue fell by 7.81%, asset management business revenue declined by 10.99%, and securities underwriting business took an even sharper dive, decreasing by 26.61%. However, income from investment activities grew, registering a 22.97% increase year over year.
In terms of investment banking, CITIC Securities performed outstandingly in A-share lead underwriting projects, securing the top market share. However, the overall number of issuance projects decreased, with the total scale shrinking by 26.57%. Meanwhile, the scale of bond underwriting saw a 21.01% increase, ranking first in the market.
In the asset management business, the company's assets under management significantly contracted, decreasing by 300 billion year over year, and management fee income also decreased.
Despite the overall downturn, CITIC Securities' employee compensation remains noteworthy. Although the average annual salary per employee decreased from the previous year, it is still a substantial 791,900 yuan.
CITIC Securities is facing challenges from a poor market environment, especially affecting its brokerage, investment banking, and asset management businesses.
To protect its reputation and the rights of investors, CITIC Securities also issued a stern statement on recent incidents of false and misleading information, emphasizing its right to hold those who disseminate such information legally accountable.
