On September 3, Guolonghui| Haitong Securities Research report pointed out that Citic Securities (600030.SH) Q2 revenue was 16.43 billion yuan, +1.7% year-on-year, +19.4% quarter-on-quarter; net income attributable to shareholders was 5.61 billion yuan, -4.7% year-on-year, +13.2% quarter-on-quarter. The performance of proprietary trading in the second quarter was excellent, driving company performance growth. The company's investment income (including fair value) in the first half of 2024 was 11.73 billion yuan, +1.7% year-on-year; investment income (including fair value) in the second quarter was 6.27 billion yuan, +27.3% year-on-year. As of the end of the first half of 2024, the company's proprietary assets scale was 542.8 billion yuan, a growth of +13% compared to the beginning of the year, of which the fixed income proprietary scale was 499.2 billion yuan, a growth of +22% compared to the beginning of the year. The company maintains advantages in various businesses and benefits from the policy guidance of "supporting the superior and limiting the inferior" by regulators. It is expected that the company will continue to maintain its leading position in the future. A reasonable value range is 21.46-23.41 yuan/share, maintaining an "outperform the market" rating.