Record-breaking first-half performance drives major securities consortium

Deep News
08/28

China International Capital Corporation Limited (601995.SH) delivered its strongest-ever interim results on August 28, posting first-half revenue of RMB 19.302 billion, up 50.47% year-on-year, with net profit attributable to shareholders reaching RMB 8.199 billion, a surge of 89.35%. The weighted average return on equity stood at 7.60%, setting a new record for the company's best mid-year performance.

Breaking down by business segment, investment banking revenue climbed 133.97% to RMB 3.380 billion, marking the fastest growth across all divisions. Wealth management contributed the largest revenue share at RMB 6.363 billion, followed by equities trading at RMB 5.288 billion, with both segments expanding by more than 50% year-on-year. Private equity revenue rose 73.30% to RMB 870 million, asset management grew 24.34% to RMB 672 million, and fixed income revenue increased 13.72% to RMB 1.952 billion.

On a geographic basis, domestic operations generated RMB 13.336 billion in revenue, up 51.49%, while overseas business brought in RMB 5.966 billion, up 48.24%, representing roughly one-third of total revenue.

Meanwhile, CICC's share-swap merger with Dongxing Securities (601198.SH) and Cinda Securities (601059.SH) remains in progress. Dongxing Securities recorded first-half revenue of RMB 2.506 billion, up 11.40%, with net profit of RMB 1.025 billion, up 25.13%. Cinda Securities posted revenue of RMB 2.435 billion, up 19.53%, and net profit of RMB 1.097 billion, up 7.15%.

Combining the three sets of interim results on a static basis, the merged entity would achieve total revenue of RMB 24.243 billion, ranking fourth in the industry behind CITIC Securities (600030.SH), Guotai Haitong (601211.SH), and GF Securities (000776.SZ). Combined net profit would reach RMB 10.321 billion, placing it sixth, trailing CITIC Securities, Guotai Haitong, Huatai Securities (601688.SH), GF Securities, and China Merchants Securities (600999.SH).

As of June 30, 2026, total assets for CICC, Dongxing Securities, and Cinda Securities stood at RMB 997.150 billion, RMB 132.638 billion, and RMB 120.250 billion, respectively, bringing the combined total to approximately RMB 1.25 trillion, the fourth-largest in the sector.

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