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Public company info - CITIC Securities Co. Ltd. - H Shares , 06030.HK
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CITIC Securities Co. Ltd. - H Shares, 06030.HK - Company Profile
Chairman ZHANG Youjun
Share Issued (share) 2,278,000,000
Par Currency Renminbi
Par Value 1.0
Industry Securities
Corporate Profile Business Summary: The Group is principally engaged in providing securities brokerage, investment banking, assets management , trading and other related financial services. Performance for the year: In 2020, the Group recognized total revenue and other income of RMB71,869 million, representing a year-on-year increase of 25.91%. Net profit attributable to owners of the parent amounted to RMB14,902 million, representing a year-on-year increase of 21.86%. Basic earnings per share amounted to RMB1.16, representing a year-on-year increase of 14.85%. Return on weighted average equity was 8.43%, representing a year-on-year increase of 0.67 percentage points. Business Review In 2020, we seized new opportunities out of crisis and formulated new plans while making progress. During this year, decisive achievements were made in building a moderately prosperous society in all respects with a successful accomplishment of the 13th Five-Year Plan. Faced with the sudden outbreak of the COVID-19 pandemic, we worked together through the difficulties. We have witnessed the gradual promotion of the new development pattern, and the high-quality development has become a new focus of economic and social development. We saw the 30 years’ journey of the Chinese capital market and opened a new chapter for promoting financial reform and opening-up while facilitating China’s economic development. The year 2020 marks the 25th anniversary of the establishment of CITIC Securities. On the way marching toward our vision of becoming “a domestically leading and internationally first-class Chinese investment bank most trusted by clients around the world”, we have made new progress against complex business environment. As at the end of 2020, the total assets of CITIC Securities amounted to RMB1.05 trillion, representing an increase of 33.00% as compared to the beginning of the year, which made us the first securities company in China with assets over one trillion. The Company recorded a revenue of RMB54.383 billion for the year, representing a year-on-year increase of 26.06%; net profit attributable to owners of the parent amounted to RMB14.902 billion, representing a year-on-year increase of 21.86%; and return on weighted average equity was 8.43%, representing a year-on-year increase of 0.67 percentage point. The Company maintained its leadership in the industry as it reached a peak for the last five years in above all aspects. Looking back at the year 2020, as the unseen changes in a century have been presented to us in concrete and subtle ways, the future of each individual and each enterprise is closely linked to the survival and development of the entire nation and society. It is clearer to us that only by uniting with each other to build a more closely connected community with shared future, could we better defend against risks and make steady and sustained development. We have learned from it that we must not only focus on our current operating results, but also cast a deep review into our history and experience, putting ourselves into the development process of our customers, the industry, society and nation, and we need to find our position through thoroughly thinking, so as to determine the future direction. On 26 September 1994, CITIC Group decided to reorganize the securities department of CITIC Corporation and integrate its securities business. Entrepreneurs from CITIC Securities started the preparation work in the two offices of less than 10 square meters. Established on 25 October 1995, the Company only had a registered capital of RMB300 million, 401 employees and 16 outlets. The Company then had neither mature operational experience of securities business nor strong capital support, facing numerous challenges. However, we believe if we insist on market-oriented operation, staying active both in thoughts and action and combining the “CITIC Genes” of ambition and innovation with strong and keen insights and thoughts, we can surely seize the historic opportunities brought by the policy of reform and opening up and the development of capital market in China. In the course of 25 years of development, CITIC Securities has created multiple “firsts”. For example, CITIC Securities completed its listing of A shares in 2003, becoming the first domestic securities company with its shares listed by way of IPO; CITIC Securities established CITIC Securities (HK) Limited (中信証券(香港)有限公司) in 2005, becoming the first domestic securities company approved to set up a wholly-owned subsidiary in Hong Kong in the industry; CITIC Securities completed its listing of H shares in 2011, becoming the first A+H listed Chinese securities company. Currently, CITIC Securities has grown into a leading large investment bank in China with net assets exceeding RMB180 billion, 19,000 employees, 30 business lines and departments, 7 principal subsidiaries and over 400 branches. The Company has more than 10 million retail clients and 75,000 domestic corporate and institutional clients, engaging in key fields of national economy, achieving in-depth coverage of major central SOEs, important local SOEs and many influential listed companies. There are 2,000 overseas institutional clients in 13 countries and regions, including the UK, the US, Australia and Southeast Asia. Going back, benefiting from its client-oriented approach and its continuous efforts to promote the organic integration of strategy, innovation and openness, CITIC Securities started from scratch and has grown from a small and weak company to a large and strong one. We insisted on thinking from the big picture and accurately grasped strategic opportunities. We have implemented a series of prospective strategic layout and gradually established a leading position in the industry. We have implemented the “Big Project” strategy to respond to the changes in the financing market, and drived our investment banking business to the leading position in the wave of serving the reform and listing of state-owned enterprises. We have implemented the “Big Network” strategy to respond to the changes in the industry competition, leveraged the capital advantages accumulated from taking the lead in going public in the industry for acquisition and expansion when appropriate, and expanded the coverage of our client services to establish our advantages of business channels. We have implemented the “Big Platform” strategy to respond to the changes in the heavy asset attributes of the industry, shrank the scale of stock proprietary business, developed direct investment as well as the flow-based business and built a diversified business platform for buyers. We have implemented the “Internationalization” strategy to respond to the changes in the clients’ needs for cross-border business, and built a bridge for domestic enterprises to go out and overseas institutions to come in through its listing in Hong Kong and overseas acquisitions. We insisted on innovative development and fostered internal driver. Over 25 years, CITIC Securities responded to the customers’ needs, explored and practiced new business models in the process of innovative competition, and became the constructor in China’s capital market and the leader of the industry. Many developing innovative measures of the Company are now mainstream. For example, we took the lead in proposing and practicing flow-based business in the industry, and firstly obtained business qualifications for, among others, direct investment, margin financing and securities lending, stock-pledged repurchase, and exchange-traded option market-making. We took the lead in carrying out cross-border return swap business, issued USD bonds overseas, and became the first derivatives broker in the industry. In the continuous iteration and innovation, the Company gradually formed a full-product, full-market and full-business coverage landscape, with basic financial functions in investment, financing, trading, payment and custody gradually improved, as well as set up the most complete business system in the industry and laid a solid foundation for long-term sustainable development. We adhered to open competition and cooperation and promoted international operation. CITIC Securities commenced to set up subsidiaries in Hong Kong in 2005, and subsequently listed on the Hong Kong Stock Exchange and acquired CLSA, thus creating a leading international business platform in the industry and becoming a Chinese-funded investment bank with the most local branches among countries and regions along the Belt and Road. Nowadays, the Company has fully implemented global integrated management, and took it as an important strategic node of international operation to realize global management and widely build up international influence. Each era has its own unique mission and values. Standing on the history intersection point of “Two Centenary Goals”, both enterprises and individuals are part of the times tide. The “14th Five-Year Plan” period marks the first five years when China embarks on a new journey toward the second Centenary Goal of fully building a modern socialist China. Adhering to the new development concept of innovation, coordination, green, openness and sharing, China will concentrate on the theme of promoting high-quality development to accelerate the establishment of a new development pattern which is based on domestic macro-circulation, along with international and domestic dual-circulation and mutual promotion. We shall adapt to the changes of the era, insist on our mission of practicing the national strategies, serving the real economy and creating more value for the society. We will make good efforts to serve the new development pattern, and optimize integrated business model at home and abroad. We will continue to expand customer market coverage, improve the sensitivity of business and the flexibility of operation and management, and proactively fulfill social responsibilities, creating a development model integrating strategy, innovation and internationalization. The current times is rushing forward either moving forward or falling behind. CITIC Securities, at the age of 25, is still a young company, shouldering the heavy responsibilities of achieving high-quality and sustainable development with unprecedented opportunities and enormous challenges. We will hold high the banner of XI Jinping Thought on Socialism with Chinese Characteristics for a New Era and continue to enhance the party building. We should keep up the momentum, be pragmatic and enterprising, work together towards a common goal, gain wisdom and strength from the past, start a new journey with new actions, and continue to forge ahead to become a domestically leading and internationally first-class Chinese investment bank most trusted by clients around the world. Prospects: Development strategy of the Company The development vision and goal of the Company is to become a domestically leading and internationally first-class Chinese investment bank most trusted by clients around the world. It strives to maintain the leading position in China and amongst the top in Asia-Pacific region for its principal businesses, while fully optimizing and enhancing its business layout, management structure, operation mechanism and appraisal system. Through benchmarking with world-class investment banks, the Company will continue to address its shortcomings and aim to outperform them by pursuing business diversification, broader customer base and higher competitiveness in the international market. Business plan for 2021 In 2021, the Company will follow the guidance of XI Jinping Thought on Socialism with Chinese Characteristics, thoroughly learn and implement the guidelines at the Fifth Plenary Session of the 19th Central Committee of the CPC, summarize its valuable experience in implementing national strategy and serving the real economy over the past 25 years, expand market exploration with constant efforts, and improve its ability to serve customers to promote the high-quality and sustainable development of the Company. Priority works include: taking the opportunity of capital market deep reform and the historical opportunity of comprehensive implementation of the registration-based initial public offering mechanism and increasing the proportion of direct financing to expand the scale of financing business, thus giving full play to the advantages of financing business to support real economy; making more efforts in developing customers in new economic sectors, promoting the transformation of existing customers from traditional industries to new economic sectors, improving the business layout in such key regions as the Beijing-Tianjin-Hebei Region, Yangtze River Delta region, Guangdong-Hong Kong-Macao Greater Bay Area, Yangtze River economic belt and Hainan Free Trade Port, deeply participating in the regional strategy of China and solidly promoting regional market development; strengthening technological empowerment and construction of a globalized information system based on new-generation technologies, such as big data, cloud computing, artificial intelligence, blockchain and 5G; and improving internal control system construction, regulating internal control activities from such aspects as organizational structure, division of responsibilities, collaboration and working methods and procedures, and firmly sticking to the bottom line of financial risks.

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