
Group 1 - The core point of the news is that CITIC Securities expects a net profit of approximately RMB 65.45 billion for Q1 2025, representing a year-on-year increase of about 32% [1] - CITIC Securities aims to enhance its comprehensive financial service capabilities while focusing on wealth management and investment trading, which are key drivers for its revenue growth [1] - In contrast, Guotai Junan and Haitong Securities reported a significant increase in net profit for Q1 2025, estimated between RMB 112.01 billion and RMB 124.45 billion, indicating a year-on-year growth of 350% to 400%, surpassing CITIC Securities [2] Group 2 - For the full year 2024, CITIC Securities reported a revenue of RMB 637.89 billion, a year-on-year increase of 6.20%, and a net profit of RMB 217.04 billion, up 10.06% [1] - The performance of CITIC Securities in Q1 2025 suggests a continuation of its profit growth trend, although the projected net profit will result in a loss of its position as the leading brokerage firm [1]