In 2025, CITIC Securities built a first-class investment bank and continuously enhanced its global capital market service capabilities. The onshore investment banking business continued to lead the market, making it a leading investment bank in the Hong Kong market, and its influence in overseas markets continued to grow.

Investment banking

Maintained a leading position in onshore equity and debt underwriting. CITIC Securities completed A-share equity underwriting with a total underwriting amount (cash and asset-based equities) of RMB270.6 billion and a market share of 24%. The scale of onshore debt underwriting reached RMB2.2 trillion, with a market share of nearly 7%, exceeding RMB2 trillion for two consecutive years. The underwriting size of financial bonds, corporate bonds, NAFMII products and asset-backed securities each ranked first among peers.

Improved cross-border capital services. The number of Hong Kong stock equity projects ranked first in the market and the scale of IPO sponsorship in Hong Kong ranked second in the market, boosting the global layout and high-quality development of Chinese enterprises.

Deepened engagement in global M&A and restructuring business. Leveraging industry insights and global resource integration capabilities, it is fully committed to serving the M&A and business restructuring of technology enterprises and real economy enterprises, empowering the integration and upgrading of industrial chains. In 2025, the scale of M&As in the China market reached RMB282.9 billion, and the scale of global M&As for Chinese enterprises reached US$77.2 billion, both ranking first among the peers.

Wealth management

Advantages in domestic wealth management business. CITIC Securities continued to optimise the product system, with the retained size of financial products exceeding RMB800 billion. Focusing on refined customer management, the customer scale has increased significantly, with the cumulative number of customers exceeding 17 million, and the AUM of entrusted customer assets exceeding RMB15 trillion.

Sustained rapid growth in the overseas wealth management business. With the steady development of global layout, CITIC Securities has built a wealth management and comprehensive service platform that spans regions, markets and asset classes. The scale of sales and transactions of products and AUM has doubled.

Financial markets


Enhanced innovation capability in equity derivatives business. CITIC Securities continued to optimise business models, explore and reserve innovative strategies and enhance business competitiveness. It maintained a strong presence with a broad client base, diverse product offerings, excellent trading capabilities and relatively stable returns.

Enhanced synergy in FICC business. CITIC Securities focused on developing proprietary investment and customer-oriented businesses and strengthening international strategic deployment, thereby achieving remarkable results in promoting integrated collaboration between domestic and overseas operations.

Enhanced comprehensive service capability in prime service business. CITIC Securities conducted a comprehensive upgrade in terms of product design, business empowerment, equity system, business opportunity system, pricing management, risk management and fintech. This advancement promoted the transformation of comprehensive financing services and business innovation, contributing to a steady increase in the financing share.

Enhanced platforms of equity and alternative investment business. Targeting the goals of large scale, multiple strategies and low volatility, CITIC Securities has built a platform-based system and gradually optimised asset allocation in the equity market.

Asset management

CITIC Securities continued to improve the pension business, upgrade the investment management system and promote the professional, systematic and refined construction of investment research to achieve a higher level. As at the end of 2025, the AUM of CITIC Securities’ asset management business, CITIC Securities Asset Management Co., Ltd., and China Asset Management Company Limited reached RMB4.8 trillion.

Equity investment

CITIC Securities Investment Co., Ltd., as the alternative investment arm of CITIC Securities, has made investments in key fields such as embodied AI, semiconductor equipment, domestic GPUs and domestic servers, serving as patient and strategic capital for technological innovation.

CITIC Goldstone Investment Co., Ltd., as the private equity platform to raise and manage funds for CITIC Securities, completed the filing of new funds totalling RMB11.05 billion.

CITIC Goldstone Fund Management Co., Ltd., as the real estate investment platform under CITIC Securities, launched approximately RMB43.366 billion in real estate private equity funds, with the cumulative funds under management ranking among the top in domestic real estate funds.

CITIC Securities International Capital, as the USD-denominated private equity primary investment platform under CITIC Securities, actively serves both “going global” and “coming to China” initiatives, investing in China’s high-end manufacturing, information technology, new energy, biotechnology and other strategic emerging industries to support the development of the real economy.

In 2026, CITIC Securities will align with deeper capital market reform and strengthen its roles in direct financing, market oversight and social wealth management. It will expand integrated investment banking and client coverage, and deepen its presence in innovation-, technology- and green-led sectors. It will also uphold finance for the people, enhance wealth management and asset allocation services, enrich products and services, and pursue value and long-term investing to support high-quality real economy growth.