CICC released a "performance forecast": net profit in 2025 may exceed 10 billion yuan, with a year-on-year growth of 50% to 85%

CICC disclosed its earnings forecast: it is expected that the net profit attributable to shareholders of the parent company for the year 2025 will be between RMB 8.542 billion and RMB 10.535 billion.

Compared to the same period last year, the company's profit will increase by RMB 2.847 billion to RMB 4.84 billion, a year-on-year increase of 50% to 85%. For this "investment banking aristocrat," last year's performance growth was relatively leading among top securities firms.

Non-recurring profit growth rate exceeds 80%

In addition, the earnings forecast also shows that after deducting non-recurring gains and losses, CICC is expected to achieve a net profit attributable to shareholders of the parent company for the year 2025 between RMB 8.428 billion and RMB 10.351 billion, which will increase by RMB 2.772 billion to RMB 4.695 billion compared to the same period last year, a year-on-year increase of 49% to 83%.

The performance of non-recurring profit and profit attributable to the parent company is similar, reflecting the company's relatively "solid" profit and outstanding performance in its main business.

Profit growth driven by market opportunities and prudent operations

The announcement briefly introduced the reasons for the company's profit growth: in 2025, the company will focus on serving the national strategic development landscape, aiming to cultivate and strengthen new productive forces, and assist in building a new development pattern. It will adhere to the essence of finance and continuously inject financial vitality into the real economy, steadily improving the quality and efficiency of financial services.

During the reporting period, the company actively seized market development opportunities, fully leveraging its integrated advantages of "investment + investment banking + investment research," and solidly advancing the implementation of various strategic layouts.

Against this backdrop, core business segments such as investment banking, stock business, and wealth management achieved steady growth, significantly boosting the company's operating performance compared to the same period last year.

From the perspective of major growth businesses, CICC has multiple growth points and a relatively comprehensive performance.

Leading securities firms seize market initiative

From CICC's earnings flash report and a series of previous earnings forecasts from securities firms, it can be seen that after the market bottomed out this round, various securities firms are gradually emerging with different development models and rhythms.

Leading securities firms, including CICC, have firmly grasped market initiative and are leading a new round of high-quality development in the industry, thanks to the complete project pipeline and reserves formed by their relatively forward-looking layouts. At the same time, more local securities firms are implementing differentiated development strategies based on regional advantages and business specialties, resulting in a significant improvement in the industry ecosystem compared to the previous round.

Observing the investment banking business, the number of new stock listings last year steadily increased, with financing volume nearly doubling. According to Tonghuashun data, as of December 31, 2025, the number of newly listed companies in A-shares reached 116, with a total financing amount of RMB 131.8 billion. Compared to the same period in 2024, the number of listed companies increased by 16%, and the total financing amount increased by 96%.

At the same time, the financing structure has further tilted towards leading companies and large securities firms. The return of billion-level IPOs is significant; in July 2025, Huadian New Energy successfully landed on the Shanghai Stock Exchange main board, raising a total of RMB 18.171 billion, becoming the first main board IPO project exceeding RMB 10 billion since the comprehensive registration system was implemented. This project was led by CICC as the sponsor, with Huatai Securities as a co-sponsor, demonstrating the professional strength and advantages of leading securities firms in major projects