Multiple listed securities firms increase investment in international business to build top international investment bank "rankings battle" begins.

It is the annual report season, and the giants are flexing their muscles - once again, international business income has become an important focus of the annual performance of various listed securities firms in 2025. In 2025, CITIC Securities International's revenue surpassed 23 billion yuan, and with a total asset size of 468 billion yuan, it has become the undisputed industry leader; CICC International's net profit was 4.468 billion yuan, accounting for 45.63% of CICC's consolidated net profit. Data shows that international business is becoming a new growth point for securities firms' performance. Many listed securities firms are also increasing their investment in international business, with their overseas subsidiaries becoming important expansion directions. With increasing competition, the landscape of Chinese securities firms' international business is also undergoing new changes. CITIC and CICC continue to steadily implement their internationalization strategies; Huatai Securities, on the other hand, saw a decline in ranking due to the sale of its US subsidiary, and it will take some time to return to the top tier. Outside of the top institutions, GF Holdings Hong Kong and CSC Financial International have doubled their revenue growth and have become formidable competitors. It is worth mentioning that the merger and reorganization of Guotai Junan and CSC Financial has been preliminarily completed, and the integration of their two wholly-owned subsidiaries in Hong Kong, Guotai Junan Financial Holdings and CSC International, is also promising for the future. Their combined revenue scale will move up a category in the industry rankings. The "battle for international top investment banks" has already begun.