BRIEF: CICC profit jumps in first half on booming Hong Kong IPO market
Leading investment bank China International Capital Corp. Ltd. (3908.HK; 601995.SH), or CICC, said on Monday it expects to report a profit of between 3.45 billion yuan ($481 million) and 3.97 billion yuan for the first half of 2025, up between 55% and 78% year-on-year.
It attributed the strong gains to an upturn in capital market activity during the period, creating strong demand for its core investment banking services. Hong Kong was the world’s biggest IPO market in the first half of this year, with 44 companies raising HK$107.1 billion ($13.6 billion) during the six-month period. CICC was one of three Chinese investment banks, alongside major Western banks, to co-sponsor the year’s biggest listing so far, which raised about HK$40 billion for EV battery maker CATL (3750.HK; 300750.SZ).
Shares of CICC opened down 0.1% at HK$19.30 on Tuesday in Hong Kong. The company’s Hong Kong-listed shares are up about 50% this year.
By Doug Young
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