CSC Financial is a large national comprehensive securities company. It primarily engages in investment banking, wealth management, trading and institutional client services and asset management. The company has developed its own unique features and core competitive advantages in areas including corporate financing, mergers and acquisitions, securities brokerage, securities finance, fixed income, asset management and trading of stocks and derivatives. It has also established a professional and efficient business support system in research consulting, information technology, operational management, risk management and compliance management.
In 2024, CSC Financial navigated market fluctuations, tackled challenges and sustained high-quality development. The company further strengthened its competitive edge in investment banking, wealth management, trading and institutional client services and asset management.
Investment banking
Onshore business continues to lead the market. In 2024, CSC Financial completed 27 equity financing projects in the A-share market, with a total underwriting amount of RMB15.1 billion, ranking second in the number of projects and third in total underwriting amount within the industry. Among these, the company acted as the lead underwriter for 12 IPOs, totalling RMB6.2 billion, which secured first place in the number of IPOs underwriting and third place in total underwriting amount within the industry. Committing to implementing national strategies and supporting the development of new quality productive forces, CSC Financial sponsored four IPO projects on the Beijing Stock Exchange, ranking first in the industry. Additionally, the company sponsored 11 IPOs in strategic emerging industries and nine IPOs for national-level specialised and sophisticated “little giant” enterprises, leading the industry in both categories. CSC Financial completed 4,021 bond underwriting projects, with a total underwriting volume of RMB1.6472 trillion, ranking second in the industry. Among these, the company underwrote 1,130 corporate bonds, with an underwriting volume of RMB448.1 billion, ranking second in the industry. Furthermore, it underwrote 107 green bonds totalling RMB57.3 billion in underwriting amount. In the financial advisory business, CSC Financial completed four projects involving A-share issuance for asset acquisitions and major asset restructuring, ranking second in the industry. The total transaction amount reached RMB23.8 billion, securing first place in the industry.
Overseas markets continue to expand. Its subsidiary China Securities (International) Finance Holding Company Limited participated in and completed three IPO sponsorship in Hong Kong, raising HK$7.4 billion. Among them, the company served as the sole sponsor for the IPO of Laopu Gold, China’s leading brand in traditional handcrafted gold jewellery, and as a joint sponsor for Horizon Robotics, a leading company in the intelligent driving industry. In the offshore market, the company participated in and completed 215 bond underwriting projects, with a total underwriting volume of HK$408.5 billion.
Wealth management
In 2024, CSC Financial’s securities brokerage and wealth management businesses achieved significant results in online customer acquisition through multiple channels and models. The number of new customers increased by 63% year on year and the number of high-net-worth clients reached a five-year high. The company operates 319 securities brokerage branch offices, laying a solid foundation for the sustainable growth of its wealth management business.
Its subsidiary China Futures Co., Ltd. recorded agency transactions of RMB26 trillion, a year-on-year increase of 25%; the number of new clients grew by 22% year on year; and the end-of-period client equity scale increased by 3% year on year.
Trading and institutional client services
In 2024, CSC Financial continued to promote the application of several strategic indices, including the “CSC Chinese Assets Risk Parity Index 2.0 (CARP2.WI)” in wealth management and asset allocation. The company also launched the cross-border wealth management programme “US Bond Connect” trading and the H-share “full circulation” client foreign exchange settlement and sales business. CSC Financial ranked among the top five in the industry for government bond futures and market-making for credit bonds on the Shanghai Stock Exchange. The company was also recognised as a “Top Northbound Market Maker” by Bond Connect Company Limited for three consecutive years. A total of 5,966 research reports were published, among which 706 research reports were distributed in the Hong Kong market. By the end of 2024, CSC Financial had 18,665 active clients using its prime brokerage services, up by 16% year on year. The company also ranked second in the industry in the number of public funds under custody.
Its subsidiary China Securities Investment Co., Ltd strengthened its commitment to strategic emerging industries and future industries, completing 19 investments totalling RMB600 million.
Asset management
As of the end of 2024, CSC Financial had RMB494.9 billion in total assets under custody. This included RMB112.1 billion in collective asset management, RMB179.6 billion in single asset management, and RMB203.2 billion in specialised asset management, with a total of 666 products under management.
As of the end of 2024, its subsidiary China Fund Management Co., Ltd. managed a total of RMB142.2 billion in assets, reflecting a year-on-year growth of 52%. Among this, the scale of public fund management was RMB94.2 billion, up 38% year-on-year. The company managed a total of 59 public funds, with 22 funds ranking in the top 30% in terms of returns across the market, 19 funds in the top 20% and six funds in the top 10% of the market.
Its subsidiary China Capital Management Co., Ltd strengthened its investments in future industries, focusing on technological innovation. During the reporting period, the company completed investments totalling over RMB2.2 billion and registered new funds totalling RMB12.5 billion.
Investment banking
Onshore business continues to lead the market. In 2024, CSC Financial completed 27 equity financing projects in the A-share market, with a total underwriting amount of RMB15.1 billion, ranking second in the number of projects and third in total underwriting amount within the industry. Among these, the company acted as the lead underwriter for 12 IPOs, totalling RMB6.2 billion, which secured first place in the number of IPOs underwriting and third place in total underwriting amount within the industry. Committing to implementing national strategies and supporting the development of new quality productive forces, CSC Financial sponsored four IPO projects on the Beijing Stock Exchange, ranking first in the industry. Additionally, the company sponsored 11 IPOs in strategic emerging industries and nine IPOs for national-level specialised and sophisticated “little giant” enterprises, leading the industry in both categories. CSC Financial completed 4,021 bond underwriting projects, with a total underwriting volume of RMB1.6472 trillion, ranking second in the industry. Among these, the company underwrote 1,130 corporate bonds, with an underwriting volume of RMB448.1 billion, ranking second in the industry. Furthermore, it underwrote 107 green bonds totalling RMB57.3 billion in underwriting amount. In the financial advisory business, CSC Financial completed four projects involving A-share issuance for asset acquisitions and major asset restructuring, ranking second in the industry. The total transaction amount reached RMB23.8 billion, securing first place in the industry.
Overseas markets continue to expand. Its subsidiary China Securities (International) Finance Holding Company Limited participated in and completed three IPO sponsorship in Hong Kong, raising HK$7.4 billion. Among them, the company served as the sole sponsor for the IPO of Laopu Gold, China’s leading brand in traditional handcrafted gold jewellery, and as a joint sponsor for Horizon Robotics, a leading company in the intelligent driving industry. In the offshore market, the company participated in and completed 215 bond underwriting projects, with a total underwriting volume of HK$408.5 billion.
Wealth management
In 2024, CSC Financial’s securities brokerage and wealth management businesses achieved significant results in online customer acquisition through multiple channels and models. The number of new customers increased by 63% year on year and the number of high-net-worth clients reached a five-year high. The company operates 319 securities brokerage branch offices, laying a solid foundation for the sustainable growth of its wealth management business.
Its subsidiary China Futures Co., Ltd. recorded agency transactions of RMB26 trillion, a year-on-year increase of 25%; the number of new clients grew by 22% year on year; and the end-of-period client equity scale increased by 3% year on year.
Trading and institutional client services
In 2024, CSC Financial continued to promote the application of several strategic indices, including the “CSC Chinese Assets Risk Parity Index 2.0 (CARP2.WI)” in wealth management and asset allocation. The company also launched the cross-border wealth management programme “US Bond Connect” trading and the H-share “full circulation” client foreign exchange settlement and sales business. CSC Financial ranked among the top five in the industry for government bond futures and market-making for credit bonds on the Shanghai Stock Exchange. The company was also recognised as a “Top Northbound Market Maker” by Bond Connect Company Limited for three consecutive years. A total of 5,966 research reports were published, among which 706 research reports were distributed in the Hong Kong market. By the end of 2024, CSC Financial had 18,665 active clients using its prime brokerage services, up by 16% year on year. The company also ranked second in the industry in the number of public funds under custody.
Its subsidiary China Securities Investment Co., Ltd strengthened its commitment to strategic emerging industries and future industries, completing 19 investments totalling RMB600 million.
Asset management
As of the end of 2024, CSC Financial had RMB494.9 billion in total assets under custody. This included RMB112.1 billion in collective asset management, RMB179.6 billion in single asset management, and RMB203.2 billion in specialised asset management, with a total of 666 products under management.
As of the end of 2024, its subsidiary China Fund Management Co., Ltd. managed a total of RMB142.2 billion in assets, reflecting a year-on-year growth of 52%. Among this, the scale of public fund management was RMB94.2 billion, up 38% year-on-year. The company managed a total of 59 public funds, with 22 funds ranking in the top 30% in terms of returns across the market, 19 funds in the top 20% and six funds in the top 10% of the market.
Its subsidiary China Capital Management Co., Ltd strengthened its investments in future industries, focusing on technological innovation. During the reporting period, the company completed investments totalling over RMB2.2 billion and registered new funds totalling RMB12.5 billion.