CITIC Securities

What CITIC Securities does

CITIC Securities Co., Ltd. (中信证券股份有限公司) is China's largest full-service securities firm, founded in October 1995 and headquartered in Shenzhen. The firm provides integrated investment banking, brokerage, asset management, proprietary trading, fixed-income market making, and equity derivatives services to corporate, institutional, retail, and high-net-worth clients across China and 13 international markets. It is the first Chinese securities company to achieve a dual A-share and H-share listing (Shanghai Stock Exchange in 2003, ticker 600030; Hong Kong Stock Exchange in 2011, ticker 6030) and is controlled by CITIC Group Corporation, a major state-owned conglomerate. As the first domestic securities firm to exceed 1 trillion yuan in total assets, CITIC Securities records major financial indicators that have ranked first in the Chinese securities industry for over a decade.

The firm's platform is built on a "core platform plus modules" architecture spanning ten core product lines (investment banking, wealth management, asset management, fixed income, equity derivatives, securities finance, stock sales and trading, research, custody, and New Third Board services) supported by add-on modules including margin financing, stock options, algorithmic trading, block trading, OTC structured products, and cash management products. Eight wholly-owned or majority-owned subsidiaries extend the platform across the value chain: CITIC Securities Investment, CITIC Goldstone (private equity, founded 2007), CITIC CLSA (international investment banking, acquired 2013), CITIC Securities (Shandong), CITIC Securities South China, CITIC Futures, CITIC Securities Asset Management, and ChinaAMC (mutual funds, founded 1998). CITIC CLSA is the firm's primary international arm and is currently being consolidated under the CITIC name, ending the 40-year-old CLSA brand in Q2 2027.

CITIC Securities generates revenue across six streams: investment banking (IPO sponsorship, equity and debt underwriting, M&A advisory), brokerage and securities services, asset management, proprietary trading, fixed-income sales and trading, and securities finance (margin lending, stock pledged repo). Retail brokerage commissions are subject to Chinese regulatory caps, while investment banking and institutional fees are negotiated per mandate. Distribution is achieved through 400+ domestic branches, proprietary digital trading platforms (mobile app and desktop client with 24/7 account opening), a dedicated institutional sales team, and the CITIC CLSA international platform. In 2025, the firm achieved record revenue of 74.8 billion yuan (~$10.8 billion) and record net profit of 30.1 billion yuan (~$4.3 billion), with net profit up approximately 35% year-on-year off the back of a proprietary trading surge and improved market conditions.

Name

CITIC Securities

Legal name

CITIC Securities Co., Ltd. (中信证券股份有限公司)

Website

http://www.cs.ecitic.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CITIC Securities is China's largest full-service securities firm, offering investment banking, brokerage, asset management, proprietary trading, and fixed-income market making to corporate, institutional, retail, and high-net-worth clients across China and 13 international markets through 400+ branches and eight operating subsidiaries.

Ownership category

akta.pro rank

Product category

Securities and Investment Banking

NAICS

Investment Banking and Securities Intermediation (523150), Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI)

akta.pro secondary industries

Securities Lending & Borrowing Operations (FSAFALAE), Investment Grade Credit Trading (FSACAEAC)

Keywords

• Investment banking services
• Securities brokerage
• Asset management
• Wealth management
• Equity underwriting

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Investment Banking: Equity financing (IPOs, follow-ons), debt financing (bonds), and M&A advisory for corporate clients, representing a core revenue driver with leading market share in China's capital markets.
2. Brokerage & Securities Services: Securities brokerage, margin financing, stock options, and related services for retail and institutional clients across domestic exchanges.
3. Asset Management: Management of mutual funds, private equity, pension assets, and segregated accounts for institutional clients, high-net-worth individuals, and retail investors.
4. Proprietary Trading: Self-directed equity and fixed-income trading using the firm's own capital, which has become a major earnings contributor during China's equity market rallies.
5. Fixed Income & Sales & Trading: Sales, market-making, and proprietary trading of fixed-income products and derivatives, serving institutional clients and providing liquidity across Chinese bond markets.
6. Securities Finance: Margin lending (financing securities purchases on credit), stock pledged repo, and contractual share repurchase services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

CITIC Securities operates a full-service integrated securities platform providing investment banking (equity and debt underwriting, M&A advisory), wealth management and retail brokerage, asset management, fixed-income sales and market making, equity derivatives, securities finance (margin lending, stock pledge), institutional sales and trading, research, custody and futures services to corporate, institutional, HNW and retail clients across China and 12 additional countries.

Product overview

CITIC Securities is a full-service Chinese investment bank offering integrated financial services through a platform-plus-modules architecture. The core platform encompasses investment banking, wealth management, asset management, fixed income, equity derivatives, securities finance, stock sales & trading, research, custody, and New Third Board services. Additional modules include stock options trading, margin financing, cash management products (天天利财, 信金保), algorithmic trading, block trading, and OTC structured products. Major subsidiaries include ChinaAMC (华夏基金) for public funds, CITIC Securities Asset Management, Goldstone Investment (金石投资) for private equity, CITIC Futures (中信期货), and CITIC CLSA for international operations. The company serves enterprise clients, institutional investors, high-net-worth individuals, and retail customers through 400+ domestic branches across 13 countries globally.

Differentiator

Problem solved

Functional benefit

Brands

• CITIC Securities International: International arm of CITIC Securities providing global investment banking and brokerage services
• ChinaAMC (华夏基金)

Products and services

• Investment Banking Provides comprehensive investment banking services including equity financing (IPOs, follow-ons), debt financing (bonds), and M&A advisory for domestic and overseas corporate clients. CITIC Securities holds the top investment banking fee wallet share in Asia Pacific at 6.4% ($340.6M) in Q1 2026.
• Wealth Management and Securities Brokerage Offers securities brokerage, investment consulting, margin financing, stock options, and financial products to retail and high-net-worth clients through nationwide branches, mobile and desktop trading platforms, and 24/7 online account opening.
• Asset Management Provides comprehensive asset management solutions across money market, fixed income, equity, and alternative investments for institutional clients including social security funds, banks, insurance companies, and high-net-worth individuals.
• Fixed Income Sales, Trading and Market Making Engages in fixed income products and derivatives sales, product design, trading, and market making, providing investment advisory and liquidity services to clients across Chinese bond markets.
• Equity Derivatives Offers OTC options, cross-border revenue swaps, structured products, and enterprise risk solutions to meet client financing, risk management and investment needs across equity-linked assets.
• Securities Finance Provides margin financing, stock pledged repo, and securities lending services to meet client financing needs, generating interest income for the firm.
• Stock Sales and Trading Delivers institutional sales, block trading, algorithmic trading, research services, and corporate access to domestic and international institutional investors.
• Research Services Provides macroeconomic, industry, and corporate strategy research through the CITIC Securities Research Institute, serving both primary and secondary market investors as industry experts and strategic consultants.
• Custody Services Provides comprehensive services for domestic and international asset managers including asset custody, fund administration, investor services, and interbank market clearing.
• New Third Board Services Provides comprehensive New Third Board (NEEQ) market services including IPO sponsorship, market making, and equity investment recommendations focused on growth and innovation sectors.
• Cash Management Wealth Products Idle fund management wealth solutions including Tian Tian Li Cai (天天利财) and Xin Jin Bao (信金保) and the Xinyin fixed-income product, offering efficient cash utilization for corporates and individual investors.
• ChinaAMC Public Fund Management Wholly-owned subsidiary providing public mutual fund management, established in 1998 as one of the first batch of national public fund management companies in China, building a diversified asset management platform centered on public funds and institutional business.
• CITIC Securities Asset Management Subsidiary providing asset management products and services for institutional clients, maintaining leading positions in its business segments including segregated mandates, collective asset management plans and alternative investments.
• Goldstone Investment Private Equity Wholly-owned private equity subsidiary established in 2007, one of the most influential PE investment institutions in China, providing private equity fund management and direct investment services.
• CITIC Futures Brokerage One of the largest futures companies in China, established in 1993, specializing in futures brokerage, risk management services, and derivative-focused asset management.
• CITIC CLSA International Investment Banking and Brokerage International platform of CITIC Securities providing global investment banking, brokerage and research services across Asia-Pacific, Europe and the United States, serving as CITIC's offshore institutional and investment banking arm.

Quantifiable outcome

• Record 74.8 billion yuan revenue in 2025, up significantly year-on-year
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and flagship.

• CITIC Construction Investment (CITIC Securities Research Institute)coreOthers · 18 June 2026CITIC Securities Research Institute issued research reports on the non-banking financial sector benefiting from the Lujiazui Forum, covering capital market progress, regulatory frameworks, and liquidity risk prevention — directly supporting CITIC Securities' institutional research and sales franchise.
• CLSA (Credit Lyonnais Securities Asia)flagshipStrategic or Co-development Partner · 13 June 2026CITIC Securities acquired CLSA in 2013 and is integrating it as its primary international platform. CLSA will operate solely under the CITIC name from Q2 2027, ending the 40-year-old CLSA brand. CLSA's international network spanning Asia-Pacific, Europe, and the US serves as CITIC's offshore institutional and investment banking arm.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• China International Capital Corporation (CICC): CICC is one of China's largest investment banks and CITIC's closest direct competitor, jointly mandated on many of the same mega-deals (Syngenta, EngineAI). Both serve corporate, institutional, and HNW clients across A+H equity capital markets with comparable investment banking, brokerage, and asset management franchises.
• Huatai Securities: Huatai is a top-tier Chinese securities firm competing directly with CITIC across retail brokerage, wealth management, and investment banking. Both firms were identified as aggressively rebuilding IB teams after the common-prosperity-era downturn, indicating parallel business mix and competitive positioning.
• Guotai Junan Securities (now Guotai Junan Haitong): Following its merger with Haitong Securities, Guotai Junan Haitong is one of the largest Chinese securities firms by assets, competing with CITIC across brokerage, IB, and asset management. Both serve retail, institutional, and corporate clients with comparable full-license platforms.
• CSC Financial (China Securities): CSC Financial is a major Chinese investment bank and brokerage competing directly with CITIC for IPO mandates, brokerage market share, and institutional research. Both firms are rebuilding IB teams after the regulatory downturn, suggesting similar business mix and recovery trajectory.
• China Galaxy Securities: China Galaxy is a top-tier Chinese securities firm with comparable brokerage, investment banking, and asset management operations. It competes directly with CITIC for retail brokerage market share and A-share IPO mandates.
• GF Securities: GF Securities is a leading Chinese securities firm jointly mandated with CITIC on cross-border IPOs (Victory Giant, Dongshan Precision). It competes across wealth management, IB, and asset management with a similar full-service platform.
• Shenwan Hongyuan Securities: Shenwan Hongyuan is a major Chinese securities firm with comparable investment banking, brokerage, and research operations, competing for IPO and follow-on mandates alongside CITIC in the domestic A-share market.

Broad incumbents

• Goldman Sachs: Goldman Sachs is a global investment bank co-sponsoring several of CITIC's flagship Hong Kong IPO mandates (Syngenta, Luxshare, Merdeka Gold). While much larger and globally diversified, it competes with CITIC CLSA for cross-border Chinese deals and institutional client flow in Asia.
• Morgan Stanley: Morgan Stanley is a global investment bank jointly mandated with CITIC on large HKEX listings (Merdeka Gold). It competes with CITIC CLSA for Chinese cross-border M&A, IPO, and institutional brokerage business.
• UBS Group: UBS is a global wealth and investment bank co-sponsoring several of CITIC's largest cross-border mandates (Syngenta, Dongshan Precision, Merdeka Gold). It competes with CITIC across investment banking and increasingly in Chinese wealth management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/CITICSECURITIES

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments134 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CITIC Securities