Incident: CITIC Construction Investment announced its 2022 report. The company achieved operating income of 27.565 billion yuan, a decrease of 7.72% over the previous year; net profit attributable to shareholders of listed companies was 7.507 billion yuan, a year-on-year decrease of 26.68%.
Comment:
The business performance of leading investment banks is impressive, and many indicators rank at the forefront of the industry. The net revenue of the company's investment banking business in 2022 was 5.927 billion yuan, a year-on-year increase of 5.24%, accounting for 21.50% of revenue, an increase of 2.65%. The investment banking business maintained a leading position and made an important contribution to the company's overall performance growth. In terms of equity financing, debt financing, financial advisory, etc., the company's investment banking business has achieved industry-leading market share and customer reputation, showing strong professional ability and brand influence.
In terms of equity financing, the company completed 79 equity financing projects in 2022, with an underwriting amount of RMB 133.388 billion, ranking 2nd and 3rd in the industry respectively. Among them, there are 41 lead underwriters for IPOs, with a lead underwriting amount of RMB 58.706 billion, all ranking second in the industry; 38 lead underwriters for equity refinancing, with lead underwriting amounts of RMB 74.682 billion, all ranking 3rd in the industry. By the end of 2022, the company had 79 IPO projects under review, ranking 2nd in the industry; 24 equity refinancing projects (including convertible bonds) were under review, ranking 2nd in the industry. In terms of debt financing, in 2022, the company completed a total of 2,501 bond underwriting projects, with a principal underwriting scale of RMB 1,306.762 billion, ranking second in the industry. Among them, corporate creditors underwrote 789 projects, with a lead underwriting scale of RMB 434.219 billion, ranking first in the industry for 8 consecutive years.
In terms of financial advisors, in 2022, the company completed 12 orders for issuing shares to purchase assets and major asset restructuring projects, ranking 2nd in the industry; the transaction amount was RMB 28.579 billion, ranking 3rd in the industry.
The brokerage business is developing steadily, and the profit of the futures business has reached a record high. In 2022, against the backdrop of market fluctuations, CITIC Construction Investment's brokerage business actively promoted business innovation, transformation and upgrading, enhanced customer experience and satisfaction, and achieved steady performance. Net business revenue was 5.930 billion yuan, down 4.91% from the previous year, accounting for 21.51% of revenue, a slight increase of 0.64%.
In 2022, the net revenue of corporate securities brokerage business accounted for 4.03% of the market, ranking 6th in the industry; net revenue from securities trading (including seat leases) accounted for 3.85% of the market, ranking 8th in the industry; net revenue from brokerage sales of financial products had a market share of 5.37%, ranking 6th in the industry; and the custodian securities market capitalization market accounted for 5.93%, ranking 3rd in the industry. In 2022, the operating income and net profit of CITIC Construction Investment Futures reached the highest level in history for the third year in a row, achieving agent transaction volume of RMB 14.87 trillion, an increase of 6.64% over the previous year; the number of new customers increased 30.28% year over year; the scale of customer equity at the end of the period increased 36.32% year on year; and the scale of asset management at the end of the period ranked second in the industry.