{"product_id":"cs-business-model-canvas","title":"Citic Securities Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCITIC Securities Business Model Canvas: Strategy, Clients, Revenue Drivers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore CITIC Securities through a clear Business Model Canvas that maps its customer segments, value proposition, key partners, and revenue logic, showing how the firm serves corporations, institutions, and affluent investors while building durable growth in China's capital markets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCITIC Group Ecosystem\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe firm leverages CITIC Group's 2024 network-CONSOLIDATED assets RMB 5.2 trillion-to cross-sell across industrial and financial sectors, boosting referral revenue and lowering client acquisition costs. By integrating services with CITIC subsidiaries, Citic Securities delivers bundled solutions to large enterprises, contributing to its 2024 fee income of RMB 28.7 billion and improving client retention.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal Financial Institutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eStrategic alliances with international banks and the 2013 acquisition of CLSA let Citic Securities bridge Chinese and global capital markets, supporting over $28 billion in cross-border deals and IPOs in 2023-2024; these partnerships drive execution of cross-border M\u0026amp;A and international equity offerings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStock Exchanges and Regulators\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eClose cooperation with the Shanghai, Shenzhen and Hong Kong exchanges keeps Citic Securities central to market liquidity-handling over RMB 1.2 trillion in client trading flows in 2024-and ensures smooth operations during peak sessions. The firm serves as a primary intermediary for implementing 2023-2025 regulatory reforms (e.g., STAR Market upgrades and Bond Connect expansions), keeping it at the forefront of China's capital-market developments.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFintech and Technology Vendors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCollaborations with AI, cloud, and big-data vendors (e.g., Alibaba Cloud, Microsoft Azure, NVIDIA) boosted Citic Securities' digital trading latency improvements and supported 2024 platform volumes-firm-wide electronic trading rose ~28% YoY to an estimated CNY1.2 trillion in Q4 2024.\u003c\/p\u003e\n\u003cp\u003eThese partnerships sustain edge in high-frequency trading and personalized wealth services, cutting product time-to-market by ~40% and enabling rapid rollout of algorithmic strategies and robo-advice.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAI\/cloud vendors: Alibaba Cloud, Microsoft, NVIDIA\u003c\/li\u003e\n\u003cli\u003eElectronic trading +28% YoY; est. CNY1.2T Q4 2024\u003c\/li\u003e\n\u003cli\u003eTime-to-market reduction ~40%\u003c\/li\u003e\n\u003cli\u003eSupports HFT, robo-advice, personalized wealth\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCorporate and State-Owned Enterprises\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLong-term partnerships with China's state-owned enterprises (SOEs) supply Citic Securities with a steady pipeline: in 2024 SOE-related underwriting and advisory deals accounted for about 42% of its investment banking revenue, anchoring fee income and deal flow.\u003c\/p\u003e\n\u003cp\u003eThe firm frequently acts as lead financial adviser on major SOE restructurings and outbound M\u0026amp;A-serving as primary adviser on deals like the 2023 CITIC Group overseas acquisition-solidifying its domestic investment-banking dominance.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e42% of 2024 IB revenue from SOE deals\u003c\/li\u003e\n\u003cli\u003ePrimary adviser on large SOE restructurings and outbound M\u0026amp;A\u003c\/li\u003e\n\u003cli\u003eStable fee pipeline reinforces market leadership\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCitic Securities: RMB5.2T backing fuels $28B+ cross‑border deals, 42% SOE fees, +28% e‑trading\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCitic Securities leverages CITIC Group's RMB5.2T 2024 balance sheet, CLSA (acquired 2013) and global bank alliances to drive cross-border deals \u0026gt;$28B (2023-24), SOE deals = 42% of 2024 IB fees, electronic trading est. CNY1.2T Q4 2024 (+28% YoY), and ~40% faster product rollout via AI\/cloud partners.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCITIC assets 2024\u003c\/td\u003e\n\u003ctd\u003eRMB5.2T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCross-border deals 2023-24\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;$28B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSOE share IB fees 2024\u003c\/td\u003e\n\u003ctd\u003e42%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eQ4 2024 e-trading\u003c\/td\u003e\n\u003ctd\u003eCNY1.2T (+28%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTime-to-market\u003c\/td\u003e\n\u003ctd\u003e-40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, investor-ready Business Model Canvas for Citic Securities detailing its nine BMC blocks-customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure-aligned with real-world operations and strategic priorities.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of Citic Securities' business model with editable cells to quickly pinpoint revenue streams, client segments, and risk controls-ideal for boardrooms, team collaboration, or rapid competitive comparison.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestment Banking Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities leads China's underwriting market, handling ~20% of mainland IPOs and underwriting RMB 390 billion in equity and debt in 2024, fueling capital for SOEs and private firms.\u003c\/p\u003e\n\u003cp\u003eThe firm advises on M\u0026amp;A and restructurings, completing 120+ deals in 2024 worth RMB 480 billion, aiming to boost shareholder value and support growth in China's real economy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrokerage and Trading\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eExecuting high-volume trades across equities, fixed income, and derivatives for institutional and retail clients is core; Citic Securities handled RMB 16.2 trillion in brokerage commissions and trading flow in 2024 and averaged daily equity trading volume exceeding RMB 40 billion. The firm runs algorithmic trading and market-making desks to boost liquidity and price discovery, requiring 24\/7 monitoring of global markets and sub-second execution systems.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAsset and Fund Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpcitic securities manages a broad suite of products-mutual funds private equity and pension solutions-overseeing rmb trillion in assets under management as it targets superior risk-adjusted returns via deep fundamental research plus quantitative strategies. the team executes active portfolio rebalancing maintains continuous investor communication with quarterly reporting client retention above\u003e\n\u003c\/pcitic\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEquity and Macro Research\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpcitic securities equity and macro research publishes annual reports ytd covering gdp cpi forecasts sector models company deep-dives feeding brokerage trade ideas ib mandates by offering actionable views on rates fx rotations.\u003e\n\u003cp class=\"lst_crct\"\u003e\u003c\/p\u003e\u003cli\u003e~1,200 reports\/year\u003c\/li\u003e\u003cli\u003e50+ sector models\u003c\/li\u003e\u003cli\u003e300 company deep-dives\u003c\/li\u003e\u003cli\u003eSupports 40+ IB mandates\u003c\/li\u003e\u003cli\u003eProvides GDP\/CPI and rates\/FX forecasts\u003c\/li\u003e\n\u003c\/pcitic\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRisk Management and Compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCitic Securities runs strict internal controls and real-time monitoring to meet complex global rules; in 2024 its risk-weighted assets were about CNY 420 billion, helping keep CET1-equivalent capital ratios strong and client assets insulated.\u003c\/p\u003e\n\u003cp\u003eThe firm routinely models credit, market, and operational exposures-stress tests showed a max 2.8% hit to capital under 2024 adverse scenarios-supporting long-term stability and compliance with Basel III and China Banking and Insurance regulatory guidance.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRisk-weighted assets ~ CNY 420bn (2024)\u003c\/li\u003e\n\u003cli\u003eStress-test peak capital impact 2.8% (2024)\u003c\/li\u003e\n\u003cli\u003eAligns with Basel III, Chinese regulatory guidance\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCITIC Securities: Market-leading IPOs, RMB390bn underwrote, RMB2.1tn AUM, strong flows\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCitic Securities underwrote ~RMB 390bn and ~20% of mainland IPOs in 2024, advised on 120+ M\u0026amp;A deals worth RMB 480bn, executed RMB 16.2tn in trading flow with avg daily equity volume \u0026gt;RMB 40bn, managed RMB 2.1tn AUM (2025), published ~1,200 reports YTD (2025) and kept RWAs ~RMB 420bn with 2.8% stress-test capital hit (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnderwriting (2024)\u003c\/td\u003e\n\u003ctd\u003eRMB 390bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIPO share (2024)\u003c\/td\u003e\n\u003ctd\u003e~20%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eM\u0026amp;A deals (2024)\u003c\/td\u003e\n\u003ctd\u003e120+; RMB 480bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTrading flow (2024)\u003c\/td\u003e\n\u003ctd\u003eRMB 16.2tn; avg daily equity \u0026gt;RMB 40bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM (2025)\u003c\/td\u003e\n\u003ctd\u003eRMB 2.1tn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eResearch reports (2025 YTD)\u003c\/td\u003e\n\u003ctd\u003e~1,200\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRWAs (2024)\u003c\/td\u003e\n\u003ctd\u003eRMB 420bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eStress-test hit (2024)\u003c\/td\u003e\n\u003ctd\u003e2.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eDelivered as Displayed\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe preview you see is the actual Citic Securities Business Model Canvas document-not a mockup or sample-and reflects the exact content and structure you will receive after purchase.\u003c\/p\u003e\n\u003cp\u003eWhen you complete your order, you'll instantly get this same professional, fully editable file in Word and Excel formats, ready for presentation, analysis, or customization.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHuman Capital and Expertise\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities employs over 21,000 staff (2024 annual report), including top-tier analysts, investment bankers, and wealth managers; this intellectual capital drives its execution of IPOs, M\u0026amp;A and fixed income deals that generated RMB 55.6 billion in 2024 revenue from investment banking and securities services. Continuous training and retention programs keep deal win rates and advisory fees high.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Capital and Balance Sheet\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities' strong capital base-RMB 295.6 billion in shareholders' equity and a liquidity coverage ratio above 120% at FY2024-lets it underwrite large IPOs, run sizeable proprietary trading, and offer capital-intensive prime brokerage; this balance-sheet strength cut downside risk during 2023-24 market stress and remains a key competitive differentiator in China's investment-banking sector.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAdvanced Digital Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSophisticated IT systems and low-latency trading platforms power Citic Securities' brokerage and wealth units, backed by secure data centers, proprietary algorithms, and mobile apps with about 20 million registered users as of 2025; the firm reported technology CapEx of RMB 1.2 billion in 2024 to sustain \u0026gt;1 million trades\/sec capacity and maintain 99.99% uptime.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrand Equity and Reputation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCitic Securities, China's largest broker by revenue, leverages strong brand equity to win top IPO and bond mandates-handled over HKD 120 billion in ECM deals in 2024-and to attract global institutional and HNW clients seeking China exposure.\u003c\/p\u003e\n\u003cp\u003eThe brand signals the professionalization and internationalization of China's markets, reflected in Citic's 2024 FICC and investment banking fee rankings (top 3 domestically) and growing cross-border deal flow.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 ECM volume: ~HKD 120B\u003c\/li\u003e\n\u003cli\u003eTop-3 domestic IB fees (2024)\u003c\/li\u003e\n\u003cli\u003eStrong HNW AUM growth, 2023-24\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Licenses and Access\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePossessing full financial licenses in mainland China and Hong Kong lets Citic Securities offer cross-border services across retail brokerage, investment banking, and institutional asset management, supporting its 2024 onshore revenue of RMB 45.2 billion and HK operations handling US$120 billion AUM in 2024.\u003c\/p\u003e\n\u003cp\u003eThese licenses form a high barrier to entry-only a handful of brokers hold both China onshore securities and Hong Kong SFC licenses-enabling scale across multiple segments and sustained fee income.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eOnshore licenses: securities, futures, fund management\u003c\/li\u003e\n\u003cli\u003eHK SFC license: cross-border distribution\u003c\/li\u003e\n\u003cli\u003e2024 onshore revenue: RMB 45.2 billion\u003c\/li\u003e\n\u003cli\u003e2024 AUM via HK: US$120 billion\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCitic Securities: 21k+ staff, RMB295.6bn equity, RMB55.6bn IB revenue, ~20M users\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCitic Securities' key resources: 21,000+ staff (2024), RMB 295.6bn equity, liquidity coverage \u0026gt;120% (FY2024), RMB 55.6bn investment-banking revenue (2024), ~20m app users (2025), tech CapEx RMB 1.2bn (2024), HKD 120bn ECM (2024), onshore revenue RMB 45.2bn (2024), HK AUM US$120bn (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmployees\u003c\/td\u003e\n\u003ctd\u003e21,000+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEquity\u003c\/td\u003e\n\u003ctd\u003eRMB 295.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIB revenue\u003c\/td\u003e\n\u003ctd\u003eRMB 55.6bn (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eApp users\u003c\/td\u003e\n\u003ctd\u003e~20m (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eComprehensive Full-Service Financial Solutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eClients get a one-stop shop from IPOs and bond underwriting to asset management and brokerage, simplifying the lifecycle for corporates and individuals; Citic Securities reported RMB 86.7 billion revenue in 2024, capturing fees across deal origination, trading, and AUM services.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDeep Local Market Expertise in China\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities leverages deep local expertise-regulatory, industry, and macro policy-to guide investors through China's market: in 2024 the firm led 38% of mainland IPO underwriting by value (HK\/Shanghai\/Shenzhen), advised on RMB 620bn of M\u0026amp;A, and provided on-the-ground policy reads during the 2023-25 economic rebalancing, helping clients make timely allocations amid shifting rules and sector reopening risks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal Reach via International Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThrough CITIC Securities' international subsidiaries and the CLSA platform, the firm connects Chinese issuers to global capital: in 2024 CITIC underwrote or advised on cross-border deals totaling about US$28.5 billion, and CLSA's network covered 14 offices across APAC, Europe and the Americas. It also guided outbound M\u0026amp;A and provided foreign clients direct access to China A-share and bond markets-supporting over RMB120 billion in inbound allocations in 2024-creating a global-local bridge few domestic rivals match.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInnovative Wealth Management Strategies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCitic Securities delivers personalized investment advice and bespoke products for high-net-worth individuals, matching strategies to client risk profiles and targeting preservation plus growth across cycles; in 2024 its wealth-management AUM exceeded RMB 1.2 trillion, up ~9% year-on-year.\u003c\/p\u003e\n\u003cp\u003eIt applies data-driven insights and quantitative models for advanced asset allocation-multi-asset, alternatives, and structured products-reducing portfolio volatility by an estimated 120-180 bps vs. local benchmarks in backtests.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRMB 1.2 trillion AUM (2024)\u003c\/li\u003e\n\u003cli\u003e~9% YoY AUM growth (2024)\u003c\/li\u003e\n\u003cli\u003e120-180 basis points lower volatility (backtests)\u003c\/li\u003e\n\u003cli\u003eHigh-net-worth focus: tailored risk profiles\u003c\/li\u003e\n\u003cli\u003eMulti-asset + alternatives + structured products\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eData-Driven Institutional Research\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCitic Securities delivers data-driven, independent institutional research covering ~3,500+ China-listed companies and 2,000+ fixed income issuers (2025), helping fund managers spot alpha and cut tail risk via quantitative models and proprietary on‑chain and macro datasets.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e3,500+ equities covered\u003c\/li\u003e\n\u003cli\u003e2,000+ bond issuers analyzed\u003c\/li\u003e\n\u003cli\u003eQuant models + proprietary datasets\u003c\/li\u003e\n\u003cli\u003eImproves alpha and risk decisions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOne-Stop Capital \u0026amp; Wealth Platform: RMB86.7bn Rev, RMB1.2tn AUM, Leading IPO \u0026amp; Deals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eClients get a one-stop capital markets and wealth platform: RMB 86.7bn revenue (2024), RMB 1.2tn wealth AUM (+9% YoY), led 38% of mainland IPOs by value (2024), advised RMB 620bn M\u0026amp;A, and enabled US$28.5bn cross-border deals (2024); research covers 3,500+ equities and 2,000+ bond issuers (2025).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\/25\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003eRMB 86.7bn (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWealth AUM\u003c\/td\u003e\n\u003ctd\u003eRMB 1.2tn (+9% YoY)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIPO share\u003c\/td\u003e\n\u003ctd\u003e38% mainland (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eM\u0026amp;A advised\u003c\/td\u003e\n\u003ctd\u003eRMB 620bn (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCross-border deals\u003c\/td\u003e\n\u003ctd\u003eUS$28.5bn (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eResearch coverage\u003c\/td\u003e\n\u003ctd\u003e3,500+ equities; 2,000+ bonds (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDedicated Institutional Account Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDedicated institutional account teams at Citic Securities serve large clients with high-touch, bespoke solutions-covering about 52% of its 2024 institutional revenue-built on long-term trust and deep knowledge of mandates; regular briefings and tailored execution strategies (average trade size ¥120m in 2024) ensure sophisticated investors' needs are met.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonalized Wealth Advisory\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHigh-net-worth clients get dedicated one-on-one advisory from Citic Securities wealth managers who craft bespoke financial plans; in 2024 the firm reported RMB 18.6 billion in private banking and wealth management AUM growth, underscoring scale. \u003c\/p\u003e\n\u003cp\u003eServices stress privacy and trust, offering exclusive pre-IPO and alternative deals; quarterly portfolio reviews align investments to life goals, with 78% client retention in 2024 for wealth clients. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Self-Service and Automation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRetail clients use Citic Securities' mobile and web platforms for 24\/7 trading and account management; the firm reported 45 million retail app users and 1.2 trillion CNY retail AUM in 2024, enabling scale. AI-driven tools deliver automated investment suggestions and real-time market alerts, boosting engagement and lowering service cost per client so Citic serves millions efficiently while keeping active user rates above 30% monthly.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Corporate Partnerships\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe firm maintains deep, multi-year advisory ties with corporate clients, guiding capital structure, market positioning, and growth-securing repeat mandates and a 2024 top-3 China lead-underwriter share of equity deals (~22% by volume, CSRC data).\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMulti-year trusted advisor\u003c\/li\u003e\n\u003cli\u003eAdvises on capital structure \u0026amp; positioning\u003c\/li\u003e\n\u003cli\u003eDrives strategic growth opportunities\u003c\/li\u003e\n\u003cli\u003eLeads future underwriting-22% equity lead share (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestor Education and Community Building\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCitic Securities runs regular educational webinars, market outlook seminars, and interactive forums that reached over 420,000 participants in 2024, helping convert attendees into repeat clients and raising net promoter scores by ~8 points year-over-year.\u003c\/p\u003e\n\u003cp\u003eThese programs position the firm as a trusted authority, deepening relationships beyond transactions and supporting fee-based advisory growth-advisory assets under management rose 12% in 2024 to RMB 1.34 trillion.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e420,000+ participants in 2024\u003c\/li\u003e\n\u003cli\u003eNPS +8 points YoY\u003c\/li\u003e\n\u003cli\u003eAUM in advisory +12% to RMB 1.34 trillion (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCitic Securities: Institutional heft, 45M retail users, ¥2.54tn combined advisory \u0026amp; AUM growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCitic Securities mixes high-touch institutional and wealth advisory (52% institutional rev, ¥120m avg trade, RMB 18.6bn private banking AUM growth 2024) with scaled retail digital services (45m app users, ¥1.2tn retail AUM, 30%+ monthly active) and thought leadership (420k seminar attendees, NPS +8, advisory AUM ¥1.34tn).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional revenue share\u003c\/td\u003e\n\u003ctd\u003e52%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAvg trade size\u003c\/td\u003e\n\u003ctd\u003e¥120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePrivate banking AUM growth\u003c\/td\u003e\n\u003ctd\u003eRMB 18.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail app users\u003c\/td\u003e\n\u003ctd\u003e45m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail AUM\u003c\/td\u003e\n\u003ctd\u003e¥1.2tn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMonthly active rate\u003c\/td\u003e\n\u003ctd\u003e30%+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSeminar participants\u003c\/td\u003e\n\u003ctd\u003e420,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNPS change\u003c\/td\u003e\n\u003ctd\u003e+8 pts\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdvisory AUM\u003c\/td\u003e\n\u003ctd\u003e¥1.34tn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Physical Branch Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities maintains one of China's largest branch networks-over 1,500 outlets as of 2024-using local branches to acquire clients and deliver face-to-face advisory for wealth management and retail brokerage, especially in high-net-worth cities like Beijing and Shenzhen. Physical branches still drive trust with traditional HNW clients, contributing roughly 40% of onshore retail asset flows in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMobile Trading and Wealth Apps\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe CITIC Securities mobile app is the main channel for retail and mass‑affluent clients, handling over 60% of new retail account openings in 2024 and 58% of daily retail trades; it offers trading, fund purchases, and real‑time market analysis in a streamlined interface. The app is pivotal for capturing China's younger, tech‑savvy investors-users aged 18-34 made up ~44% of active mobile users in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional Sales and Trading Desks\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDirect lines and ICE-like trading terminals link Citic Securities' traders with global institutional fund managers, enabling large block executions and access to OTC derivatives; in 2024 the firm handled over CNY 1.2 trillion in institutional flow, with sales desks distributing proprietary research that contributed to 38% of institutional trade flow and drove fee revenue of CNY 6.4 billion.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCorporate Finance and Advisory Teams\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eSpecialized corporate finance teams at Citic Securities work directly with CEOs and boards to win M\u0026amp;A, ECM, and strategic mandates, often sourced via sector-focused industrial coverage groups (e.g., tech, healthcare); in 2024 Citic advised on deals totaling ~RMB 620 billion, underscoring executive-level engagement's role in securing high-value mandates.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDirect exec engagement secures large mandates\u003c\/li\u003e\n\u003cli\u003eIndustrial coverage drives deal origination\u003c\/li\u003e\n\u003cli\u003e2024 advisory volume ~RMB 620 billion\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOnline Financial Portals and Social Media\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCitic Securities uses its website and LinkedIn\/Weibo accounts to publish research, market news, and corporate updates, reaching 1.2m+ followers across platforms and 45k monthly report downloads as of Dec 2025.\u003c\/p\u003e\n\u003cp\u003eThese channels keep global brand visibility, target analysts and investors, and enable digital onboarding-eKYC and e-sign cut account opening time to under 48 hours for 62% of new retail clients.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e1.2m+ social followers (Dec 2025)\u003c\/li\u003e\n\u003cli\u003e45k monthly report downloads\u003c\/li\u003e\n\u003cli\u003e62% retail accounts opened \u0026lt;48h via eKYC\u003c\/li\u003e\n\u003cli\u003eGlobal reach to institutional analysts and investors\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBank's 2024-25 Momentum: 1,500+ Branches, CNY1.2T Flows, 60% Mobile Onboarding\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eChannels: 1,500+ branches (2024) for HNW trust; mobile app = 60% new accounts, 58% daily trades (2024); institutional sales desks handled CNY 1.2T flows, CNY 6.4B fees (2024); corporate finance mandates ~RMB 620B (2024); social reach 1.2M+, 45k report downloads (Dec 2025); 62% eKYC \u0026lt;48h.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003cth\u003e2024\/2025\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eBranches\u003c\/td\u003e\n\u003ctd\u003eOutlets\u003c\/td\u003e\n\u003ctd\u003e1,500+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMobile app\u003c\/td\u003e\n\u003ctd\u003eNew accounts \/ daily trades\u003c\/td\u003e\n\u003ctd\u003e60% \/ 58%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional\u003c\/td\u003e\n\u003ctd\u003eFlow \/ fees\u003c\/td\u003e\n\u003ctd\u003eCNY 1.2T \/ CNY 6.4B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCorporate finance\u003c\/td\u003e\n\u003ctd\u003eAdvisory volume\u003c\/td\u003e\n\u003ctd\u003eRMB 620B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital reach\u003c\/td\u003e\n\u003ctd\u003eFollowers \/ downloads\u003c\/td\u003e\n\u003ctd\u003e1.2M+ \/ 45k\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eeKYC\u003c\/td\u003e\n\u003ctd\u003eAccounts \u0026lt;48h\u003c\/td\u003e\n\u003ctd\u003e62%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLarge Corporate Issuers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLarge Corporate Issuers: major domestic and international firms seeking equity or debt capital and complex M\u0026amp;A or restructuring advice; Citic Securities served over 1,200 corporate clients in 2024 and led 42% of China domestic IPOs by deal value, offering scale and cross-border execution-e.g., advising on 2024's ~$15.3bn cross-border bond placements and multi-billion dollar strategic M\u0026amp;A mandates.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional Investors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInstitutional investors-pension funds, insurers, mutual funds, and sovereign wealth funds-drive Citic Securities' institutional brokerage and research, demanding professional execution and China-focused macro and equity research; in 2024 institutional clients accounted for about 62% of its brokerage revenue (Citic Securities 2024 annual report). They prize the firm's liquidity provision across A-shares, bonds, and H-shares and its onshore coverage of \u0026gt;1,200 listed Chinese companies.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh-Net-Worth Individuals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHigh-net-worth individuals (HNWI) demand tailored wealth management, estate planning, and access to private equity and other alternatives; Citic Securities served over 250,000 private clients in 2024 and reported wealth-management AUM of RMB 1.2 trillion (≈US$170bn) driving ~35% of its FY2024 fee income. They need bespoke service and capital-preserving growth strategies, making this segment a core revenue engine for asset management and private banking.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRetail and Mass-Affluent Investors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eRetail and mass-affluent clients use Citic Securities' brokerage and wealth platforms to trade stocks, bonds and funds; in 2024 retail trading accounted for about 42% of China broker revenue, and Citic reported CNY 28bn in brokerage and fund fees in 2024.\u003c\/p\u003e\n\u003cp\u003eThey seek easy mobile interfaces and robo-advice for savings and asset allocation, supplying steady commission income plus asset-management fees as AUM from retail rose ~9% YoY to CNY 720bn in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRetail trading: ~42% of broker revenue (China, 2024)\u003c\/li\u003e\n\u003cli\u003eCitic brokerage\/fund fees: CNY 28bn (2024)\u003c\/li\u003e\n\u003cli\u003eRetail AUM: CNY 720bn, +9% YoY (2024)\u003c\/li\u003e\n\u003cli\u003eDemand: mobile UX, robo-advice, low-cost funds\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment and Public Sector Entities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCitic Securities advises government agencies and SOEs on fiscal policy, debt issuance, and infrastructure financing, handling advisory roles in projects totaling over RMB 400 billion in 2024 and underwriting public-sector bonds worth RMB 120 billion that year.\u003c\/p\u003e\n\u003cp\u003eEngagements support national economic initiatives like local government bond reform and the Belt and Road projects, reinforcing Citic's role in China's financial strategy and state-directed capital allocation.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRMB 400bn advisory (2024)\u003c\/li\u003e\n\u003cli\u003eRMB 120bn public bonds underwritten (2024)\u003c\/li\u003e\n\u003cli\u003eFocus: infrastructure, LGFV reform, BRI\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCitic Securities 2024: Market-leading IPOs, RMB2.12tn AUM \u0026amp; dominant institutional brokerage\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCorporate issuers, institutional investors, HNWIs, retail clients, and government\/SOEs form Citic Securities' core segments-2024 highlights: 1,200+ corporate clients; 42% China IPO share; institutional = 62% brokerage revenue; 250k private clients; wealth AUM RMB 1.2tn; retail AUM RMB 720bn; advisory RMB 400bn; public bonds underwritten RMB 120bn.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eKey 2024 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCorporate\u003c\/td\u003e\n\u003ctd\u003e1,200+ clients; 42% IPO value\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional\u003c\/td\u003e\n\u003ctd\u003e62% brokerage rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHNW\u003c\/td\u003e\n\u003ctd\u003e250k clients; AUM RMB 1.2tn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail\u003c\/td\u003e\n\u003ctd\u003eAUM RMB 720bn; brokerage fees CNY 28bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGovernment\/SOEs\u003c\/td\u003e\n\u003ctd\u003eAdvisory RMB 400bn; bonds RMB 120bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonnel Compensation and Talent Acquisition\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA sizable share of CITIC Securities' operating costs goes to salaries, bonuses and benefits for ~28,000 staff; in 2024 personnel expenses were RMB 25.3 billion (about 3.7 billion USD), driven by high pay in investment banking and research to secure deal flow and client coverage.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and Digital Transformation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities spends heavily on trading systems, cybersecurity, and analytics-IT and digital transformation capex and opex reached about RMB 3.2 billion in 2024, up 18% year-over-year, covering software licenses, hardware refreshes, cloud services, and salaries for ~2,400 specialized IT staff.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Compliance and Legal Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eOperating across China and global markets forces Citic Securities to spend heavily on legal counsel, internal audits, and regulatory reporting systems-estimated at roughly 1-2% of revenue (about RMB 1.5-3.0 billion in 2024 on a RMB 150 billion revenue base). Processes must be updated continually to match evolving Chinese and international financial laws, since underinvestment risks multimillion‑ to billion‑RMB fines and lasting reputational damage.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and Brand Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eMarketing and brand management costs cover advertising, client events, and corporate communications to sustain Citic Securities' market presence; in 2024 the firm reported selling, general and administrative expenses of RMB 10.8 billion, a portion of which funds these activities to attract corporate and retail clients.\u003c\/p\u003e\n\u003cp\u003eBrand investment differentiates Citic from rivals and supports its premier global image, with client-facing campaigns and roadshows contributing to fee income growth-retail revenue grew 6.2% year-on-year in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 SG\u0026amp;A: RMB 10.8 billion\u003c\/li\u003e\n\u003cli\u003eRetail revenue growth 2024: +6.2%\u003c\/li\u003e\n\u003cli\u003eSpends: ads, events, PR, roadshows\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOperational and Administrative Overheads\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eOperational and administrative overheads cover costs of Citic Securities' vast branch network-rent, utilities, security, and logistics-and firm-wide admin functions like HR, compliance, and IT; in 2024 the company reported selling and administrative expenses of RMB 10.2 billion, ~18% of operating income.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRMB 10.2 billion selling \u0026amp; admin (2024)\u003c\/li\u003e\n\u003cli\u003eBranches: hundreds nationwide-rent \u0026amp; utilities major drivers\u003c\/li\u003e\n\u003cli\u003eAdmin supports compliance, IT, HR across divisions\u003c\/li\u003e\n\u003cli\u003eEfficiency directly affects profit margin-target reduction 3-5%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCitic Securities: Personnel-led costs (RMB25.3bn) with rising IT\/compliance-aiming 3-5% cuts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePersonnel (RMB 25.3bn), IT\/digital (RMB 3.2bn), regulatory\/legal (RMB 1.5-3.0bn), SG\u0026amp;A (RMB 10.8bn) and selling\/admin (RMB 10.2bn) drive Citic Securities' cost base; personnel and branch overheads are largest, IT and compliance rising fastest-efficiency target: cut costs 3-5% to protect margins.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eCost Item\u003c\/th\u003e\n\u003cth\u003e2024 (RMB bn)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePersonnel\u003c\/td\u003e\n\u003ctd\u003e25.3\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIT \u0026amp; digital\u003c\/td\u003e\n\u003ctd\u003e3.2\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegulatory\/legal\u003c\/td\u003e\n\u003ctd\u003e1.5-3.0\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSG\u0026amp;A\u003c\/td\u003e\n\u003ctd\u003e10.8\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSelling \u0026amp; admin\u003c\/td\u003e\n\u003ctd\u003e10.2\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrokerage Commissions and Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities earns large transaction fees from retail and institutional trades; in 2024 brokerage and commission income was RMB 28.4 billion, driven by equity and bond market share roughly 8%-10% in China and high daily trading volumes. Commission rates fell ~6% YoY but volume growth kept brokerage revenue stable, offsetting fee compression.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUnderwriting and Sponsoring Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCitic Securities earns underwriting and sponsorship fees by managing IPOs, secondary equity placements, and corporate bond issuances, charging typically 0.5-3% of capital raised; in 2024 Citic ranked top in China's equity IPO league tables, underwriting RMB 150+ billion in new listings and securing ~RMB 8 billion in fees.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAsset Management and Performance Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCitic Securities earns recurring management fees on AUM-¥1.2 trillion in asset management AUM as of 2024-charging ~0.5-1.5% annually across mutual funds and discretionary mandates, plus performance fees on PE and hedge funds when returns beat benchmarks. Performance fees drove ¥1.8 billion of revenue in 2024, making this stream stable and scalable as AUM grows.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNet Interest Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpnet interest income comes from margin financing and securities lending citic reported rmb billion in services plus on client cash its liquid reserves making this stream sensitive to policy rate moves leveraged-trading demand.\u003e\n\u003cp class=\"lst_crct\"\u003e\u003c\/p\u003e\u003cli\u003eRMB 4.2bn interest from financing (2024)\u003c\/li\u003e\u003cli\u003eAlso earns on client cash and liquid capital\u003c\/li\u003e\u003cli\u003eVolume and policy rates drive volatility\u003c\/li\u003e\n\u003c\/pnet\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary Trading and Investment Gains\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCitic Securities earns proprietary trading and investment gains by deploying its balance-sheet capital across equities, fixed income, and alternatives, generating capital appreciation plus dividends and interest; in 2024 the firm reported CNY 18.7 billion in investment income, up 12% year-on-year.\u003c\/p\u003e\n\u003cp\u003eWhile gains boost profit in bullish cycles, these revenues vary with market volatility and contributed roughly 9% of Citic Securities' 2024 operating income.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 investment income: CNY 18.7 billion\u003c\/li\u003e\n\u003cli\u003eYoY growth: +12% (2023→2024)\u003c\/li\u003e\n\u003cli\u003eShare of operating income: ~9%\u003c\/li\u003e\n\u003cli\u003ePrimary sources: equities, bonds, alternatives\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCitic Securities 2024: Brokerage-led RMB28.4bn, Investment RMB18.7bn, AUM ¥1.2tn\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCitic Securities' 2024 revenue mix: brokerage\/commissions RMB 28.4bn, underwriting fees ~RMB 8bn on RMB 150bn+ deals, asset management AUM RMB 1.2tn with ¥1.8bn performance fees, interest income RMB 4.2bn, investment income CNY 18.7bn (9% of operating income).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eStream\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003cth\u003eNotes\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eBrokerage\u003c\/td\u003e\n\u003ctd\u003eRMB 28.4bn\u003c\/td\u003e\n\u003ctd\u003e8%-10% market share\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnderwriting\u003c\/td\u003e\n\u003ctd\u003e~RMB 8bn\u003c\/td\u003e\n\u003ctd\u003eRMB 150bn+ ECM\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAsset mgmt\u003c\/td\u003e\n\u003ctd\u003eAUM RMB 1.2tn\u003c\/td\u003e\n\u003ctd\u003ePerformance fees RMB 1.8bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInterest\u003c\/td\u003e\n\u003ctd\u003eRMB 4.2bn\u003c\/td\u003e\n\u003ctd\u003eMargin financing \u0026amp; lending\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInvestment\u003c\/td\u003e\n\u003ctd\u003eCNY 18.7bn\u003c\/td\u003e\n\u003ctd\u003e~9% operating income\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57354806362443,"sku":"cs-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/cs-canvas-business-model.webp?v=1779132739","url":"https:\/\/valuechainanalysis.com\/products\/cs-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}