CITIC Securities Co., Ltd. was among the first comprehensive securities brokerage firms set up in mainland China under the approval of the China Securities Regulatory Commission (CSRC). Formerly known as CITIC Securities Limited, the firm was incorporated in Beijing on 25 October 1995, with a registered capital of approximately RMB 6.63 billion. With approval from the CSRC, on 13 December 2002, the Company carried out an initial public offering through the sale of 400 million common A shares, after which it was listed on the Shanghai Stock Exchange on 6 January 2003 under the ticker "600030".
The key business scope of the firm includes: securities brokering; payment of principal, interest and dividends of shares; securities custody and authentication; account registration and opening; proprietary trading; underwriting, (including domestic-listed foreign shares and sometimes acting as the lead underwriter); asset management; and securities investment advice (including financial consulting).
The firm has long upheld the principle of "Stability and Innovation” in its operations and has won leading positions in a number of business areas. In 2008, CITIC Securities ranked first in equity underwriting and bond underwriting respectively, occupying 16.44% and 13.93% of the market of each. In equity fund trading, the firm, together with its subsidiaries, occupies the leading position, with 8.56% market share of the equity funds on the market. It maintains a scale of assets under management at 10.29% of the market share. The firm's research team has been successful in maintaining the lead with its competitive edge.
CITIC Group is the largest shareholder of CITIC Securities. CITIC Securities, together with China CITIC Bank, CITIC Trust Co., Ltd. and CITIC Prudential Insurance Co. Ltd, form CITIC Holdings Co., Ltd.. CITIC Holdings Co., Ltd. is an integrated financial operator which provides domestic and overseas clients with a full range of financial services in collaboration with CITIC International Financial Holdings Ltd.
CITIC Securities owns a number of subsidiaries, including: China Securities Co., Ltd., CITIC-Kington Securities Co., Ltd., CITIC Wantong Securities Co., Ltd., CITIC Securities International Company Limited, China Asset Management Co., Ltd., CITIC Fund Management Co., Ltd., CITIC Futures Co., Ltd., CITIC Private Equity Funds Management Co., Ltd., Gold Stone Investment Ltd. and S&P/CITIC Index Information Service (Beijing) Co. Limited. Together with operations run by its subsidiaries, CITIC Securities has a network of 185 securities brokerage branches, 43 securities service branches and 8 futures brokerage branches in China.
At the end of 2008, it had total assets of RMB 136.7 billion and net assets of RMB 55 billion, making the firm the largest securities house in China in terms of capital.
CITIC Securities was voted as Asiamoney's “China's Best Bond House” for four years running from 2002 to 2005 and 2008; “China's Best Equity House” for 2004, 2007, 2008. In 2008 and 2008, the firm was ranked the Best Local Brokerage by Asiamoney.
In 2008, it was selected as “Best Brokerage House in China” and “Best Bond House in China” by FinanceAsia. In 2008, according to Bloomberg, the firm was the third largest IPO underwriter in Hong Kong.
CITIC Securities won No. 1 in the “Best Local Securities Firms” survey sponsored by China's New Fortune magazine in 2005, No. 1 in “Best Local Investment Banking Team” in 2007 and 2008, No. 1 in the “Best Local Research Teams” survey in 2006, 2007 and 2008, and No. 1 in China's “Best Sales Teams” survey in 2006.