CITIC Securities Q3 revenue increased by 55.71% year-on-year, net profit rose by 51.54%, and investment income surged by over 190% | Earnings Report Highlights
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CITIC Securities' Q3 net profit attributable to shareholders reached 9.44 billion yuan, a year-on-year increase of 51.54%. The three main pillars—brokerage, asset management, and investment banking—all achieved steady growth. Investment income for the first three quarters was 32.838 billion yuan, soaring by 190.05% year-on-year. As of the end of the reporting period, total assets exceeded 2 trillion yuan for the first time, reaching 2.03 trillion yuan.
On the 24th, CITIC Securities released its Q3 financial report:
Third quarter operating income reached 22.775 billion yuan, up 55.71% year-on-year.Net profit was 9.44 billion yuan, up 51.54% year-on-year.
Q3 Net Profit Surged by Over 50%, Income Across All Business Lines Rose
The performance growth was mainly driven by comprehensive efforts in multiple business lines. The report pointed out that the significant increase in operating income in the third quarter mainly came from increases in the revenue of brokerage, investment banking, asset management, and investment and trading businesses. In the first three quarters of this year, the company’s cumulative net profit attributable to shareholders reached 23.159 billion yuan, up 37.86% year-on-year.
In the first three quarters of this year, the company achieved net fee and commission income of 24.561 billion yuan, an increase of 35.67% year-on-year. Specifically, net brokerage fee income grew from 7.154 billion yuan in the same period last year to 10.939 billion yuan, becoming the most prominent growth area in this segment. In addition, net fee income from investment banking and asset management businesses also achieved steady growth.
Among market-related businesses, CITIC Securities' investment returns stood out in particular. In the first three quarters, the company achieved investment income of 32.838 billion yuan, a surge of 190.05% year-on-year, mainly due to an increase in investment income recognized during the holding and disposal of financial instruments compared to the previous year. Gains from changes in fair value recorded a loss of 756 million yuan, in sharp contrast to the more than 10.7 billion yuan gain in the same period last year. The report explained this was mainly due to reduced gains on changes in the fair value of trading financial liabilities and derivative financial instruments.
In addition, the company also recorded a foreign exchange loss of 2.198 billion yuan during the same period, reflecting the impact of exchange rate market fluctuations on performance.
Asset Scale Surpasses 2 Trillion
As of September 30, 2025, the company’s total assets reached 2.026 trillion yuan, up 18.45% compared to the end of 2024, officially surpassing the 2 trillion yuan threshold. The expansion of asset scale is closely related to business activities. Among them, “funds lent” increased from 138.3 billion yuan at the beginning of the year to 191.7 billion yuan, reflecting the expansion of margin financing and securities lending business against the backdrop of increased market activity.
The report shows that the net cash flow from operating activities in the first three quarters was 56.202 billion yuan, a decline of 50.53% year-on-year, mainly due to increased cash outflows from “funds lent.”
As an important asset under CITIC Securities, its wholly owned subsidiary China Asset Management Co., Ltd. (hereinafter referred to as China AMC) continued to maintain solid performance and industry-leading management scale.
Based on the principle of fair information disclosure, CITIC Securities disclosed key unaudited financial data for China AMC in the third quarter in its report. From July to September 2025, China AMC achieved a net profit of 866 million yuan. As of September 30, 2025, assets under management of China AMC (parent company) reached 3.0068 trillion yuan, continuing to provide the group with a stable source of profit.
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