Investment Banking and Brokerage

CICC

CICC Reduces Holdings in Han's CNC by 2.53 Million Shares on May 14, Raising About 362 Million HKD

CICC Merger with Dongxing and Cinda Securities Verified: Control Unchanged, Central Huijin Remains Controller

CICC Completes 3 Billion RMB Bond Issuance: Series I Rate 1.47%, Series II Rate 1.69%

Ding Xuexiang Inspects Computing Power Network Construction: Emphasizes Electricity-Computing Synergy and Green Power Direct Connection, Ensures Energy Supply

Pakistan Successfully Issues First Non-Fully Guaranteed Panda Bond with Support from AIIB and ADB

CICC Receives AAA Credit Rating with Stable Outlook, Set to Issue Corporate Bonds

CICC Wins Bid for Zhejiang Transportation Investment Group Bond Underwriting Project

Anhui Zhongjin Robot Industry Fund Partnership Established with a Capital of 500 Million Yuan

China's April CPI and PPI Year-on-Year Rates Forecast to be Released Soon

Citi Reduces Short Position in CICC H-Shares

CICC Reports Better-than-Expected Q1 2026 Earnings

BOA Securities Upgrades CICC's Target Price and Rating

CICC Successfully Issued the Second Tranche of Corporate Bonds

CICC Board Approves Annual Business Plan and Q1 Report

CICC reports 75.19% year-over-year net profit growth to 3.577 billion yuan in Q1

CMBI Raises Target Price for CICC to HKD 26

CICC released FY2026 Q1 earnings on April 29 Pre-Market (BJT), actual revenue CNY 9.011 B (forecast CNY 7.869 B), actual EPS CNY 0 (forecast CNY 0.5286)

CICC Issuing RMB 3 billion in Corporate Bonds

CSRC Approves Registration of Zhongjin Vipshop Closed-end Commercial Real Estate Securities Investment Fund

CICC to release FY2026 Q1 earnings on April 29 Pre-Market (BJT), forecast revenue CNY 7.869 B, EPS CNY 0.5286

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Citi's report on Chinese brokers highlights a strong revenue and net profit growth of 40% and 44% YoY in 1Q26, respectively. CICC is identified as the top pick with significant profit growth, while CGS showed the slowest increase. The bank revised earnings forecasts, expecting a 10% ROE for the year and a 35% upside potential for H-share brokers. Investment ratings and target prices for various brokers were provided, with CICC rated as a buy with a target price increase from HKD 27.12 to HKD 27.66.

AASTOCKS News

Yinhua CSI All Share Investment Banking & Brokerage ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

CITIC SEC

CITIC Securities Co., Ltd.

GF SEC

GF SECURITIES

HTSC

DFZQ

Huatai Securities Co., Ltd. GDR Class A RegS

Citi: CN Brokers Forecast FY ROE at Around 10%; Top Pick CICC

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HKEX documents show that Wuhan DR Laser Technology Co., Ltd. has submitted an application for listing to the HKEX, with CICC as the sole underwriting sponsor

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DR Laser

HKEX

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Hong Kong Exchanges and Clearing (HKEX)

CICC opened 3.95% higher today, currently reported at 19.76 yuan, up 2.6%. The company announced a profit warning yesterday, expecting net profit in the first quarter to reach 3.369 billion to 3.88 billion yuan, a year-on-year increase of 65% to 90%. A Morgan Stanley report pointed out that the probability of CICC's stock price rising in the next 30 days exceeds 80%, as the recent decline in stock price has made short-term valuations more attractive

AASTOCKS

Morgan Stanley

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MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

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MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

CICC rose 2.6% in early trading, yesterday announced a profit warning expecting first-quarter net profit of at least 3.369 billion RMB

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CICC issued a profit warning, expecting a net profit attributable to shareholders in the first quarter to be between RMB 3.369 billion and RMB 3.88 billion, representing a year-on-year growth of 65%-90%. During the quarter, the company adhered to the political positioning of state-owned financial enterprises, actively seizing favorable opportunities from the stable and improving capital market and increased trading activity, promoting coordinated efforts and balanced growth in its main businesses such as investment banking and wealth management

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

In the "Earnings Surprise," CICC forecasts a maximum profit of 3.88 billion RMB in the first quarter, an increase of 90%

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CICC announced that it is planning to absorb and merge Dongxing Securities Co., Ltd. and Cinda Securities through a share swap. Related audit and other work has not yet been completed. The company will convene a board meeting to review the relevant proposals and fulfill information disclosure obligations after completion

Dongxing Securities Co., Ltd.

Cinda Securities

CICC: Audit and other work related to the absorption and merger of Dongxing Securities Co., Ltd. and Cinda Securities is not yet complete

CICC(601995.SH)

Citi: CN Brokers Forecast FY ROE at Around 10%; Top Pick CICC

HKEX documents show that Wuhan DR Laser Technology Co., Ltd. has submitted an application for listing to the HKEX, with CICC as the sole underwriting sponsor

CICC rose 2.6% in early trading, yesterday announced a profit warning expecting first-quarter net profit of at least 3.369 billion RMB

In the "Earnings Surprise," CICC forecasts a maximum profit of 3.88 billion RMB in the first quarter, an increase of 90%

CICC: Audit and other work related to the absorption and merger of Dongxing Securities Co., Ltd. and Cinda Securities is not yet complete