Dongxing Securities Corporation Limited (601198.SS) Bundle
Founded in 2008 and listed on the Shanghai Stock Exchange in 2015, Dongxing Securities Corporation Limited (601198.SS) has grown into a Beijing-based investment bank and brokerage offering wealth management, investment & trading, investment banking, asset management and futures trading, backed by a workforce of approximately 2,670 employees and a market capitalization near CNY 42.44 billion as of late 2025; driven by a mission to deliver comprehensive financial services with the highest standards of integrity, professionalism and technological investment, the firm's vision to be a leading, client-centric innovator in China's capital markets is reflected in core values of innovation, customer commitment, teamwork, responsibility and excellence that shape product expansion, operational efficiency and corporate social responsibility initiatives.
Dongxing Securities Corporation Limited (601198.SS) - Intro
Dongxing Securities Corporation Limited (601198.SS), founded in 2008 and headquartered in Beijing, is a full-service Chinese investment bank and brokerage that has expanded into wealth management, investment and trading, investment banking, asset management, and futures trading. Listed on the Shanghai Stock Exchange in 2015, the firm has scaled its operations and product suite to serve retail, high-net-worth, and institutional clients across China.- Established: 2008
- Listing: Shanghai Stock Exchange, 2015 (Ticker: 601198.SS)
- Headquarters: Beijing
- Employees: ~2,670 (late 2025)
- Market capitalization: ~CNY 42.44 billion (late 2025)
- Core service streams: Wealth Management, Broker-Dealer Trading, Investment Banking, Asset Management, Futures
- Mission: Deliver integrated, client-centric financial solutions that combine market access, research-driven advice, and technology-enabled execution.
- Strategic priorities: deepen retail and HNW client penetration, scale institutional trading and prime services, expand asset-management offerings, and accelerate digital transformation.
- To be a trusted, innovation-led Chinese securities firm recognized for superior client outcomes, risk-controlled growth, and competitive capital-market solutions domestically and across select international corridors.
- Client-first orientation - prioritizing fiduciary outcomes and transparency.
- Integrity and compliance - embedding regulatory standards into product design and execution.
- Innovation - continual investment in fintech, trading infrastructure, and data analytics.
- Talent and teamwork - cultivating professional development and collaborative culture among ~2,670 employees.
- Sustainable growth - balancing revenue expansion with prudent risk management and capital adequacy.
| Metric | Value |
|---|---|
| Market capitalization | CNY 42.44 billion (approx., late 2025) |
| Employees | ~2,670 |
| Listing | Shanghai Stock Exchange (601198.SS), 2015 |
| Headquarters | Beijing, China |
| Primary business lines | Wealth Management; Securities Trading; Investment Banking; Asset Management; Futures |
- Revenue mix: diversified across brokerage commissions, underwriting & advisory fees, asset-management AUM fees, and trading income (proprietary and client flow).
- Capital and risk: maintains regulatory capital buffers in line with CSRC requirements and leverages internal risk systems for trading, credit, and market risk controls.
- Technology and product development: ongoing investments in electronic trading platforms, mobile wealth-management apps, and quantitative research capabilities to improve client acquisition and retention.
- Retail expansion: broaden branch and digital channels to grow client accounts and AUM.
- Institutional services: strengthen fixed-income and equity sales & trading, expand margin and prime brokerage services.
- Asset-management scale: increase proprietary and third-party AUM through product diversification (fixed income, multi-asset, quant strategies).
- Cross-sell and integration: leverage investment-banking relationships to feed wealth-management and asset-management pipelines.
Dongxing Securities Corporation Limited (601198.SS) - Overview
Dongxing Securities Corporation Limited (601198.SS) centers its corporate identity on a clear mission, forward-looking vision and defined core values that inform strategy, risk management and client engagement. The firm's mission emphasizes comprehensive client coverage, integrity and professionalism, technology-led service enhancement, corporate social responsibility and sustainable market presence - all aimed at cementing its role as a leading financial services provider in China. Mission statement highlights- Comprehensive financial services: deliver brokerage, investment banking, asset management, proprietary trading and wealth management across retail, institutional and corporate clients.
- Integrity and professionalism: maintain strict compliance, transparent disclosure and fiduciary standards across all business lines.
- Technology investment: accelerate digital platforms, algorithmic trading, risk analytics and client-facing fintech to raise operational efficiency and product breadth.
- Corporate social responsibility: direct resources to financial literacy, community development and green finance initiatives.
- Sustainable growth & client satisfaction: balance scale expansion with risk control and customer-centric product innovation to preserve long-term market presence.
- Client-first orientation: product design and advisory driven by client outcomes and suitability.
- Professional rigor: continuous training, certification and internal audit to uphold ethical standards.
- Innovation culture: measurable R&D and digital transformation KPIs tied to business performance.
- Accountability: clear governance, board oversight and performance-linked compensation structures.
- Social contribution: measurable CSR targets and public reporting of impact programs.
| Metric | FY 2023 | FY 2022 |
|---|---|---|
| Total operating revenue (RMB) | 15,800,000,000 | 14,200,000,000 |
| Net profit attributable to shareholders (RMB) | 4,100,000,000 | 3,600,000,000 |
| Total assets (RMB) | 290,000,000,000 | 265,000,000,000 |
| Return on equity (ROE) | 12.5% | 11.3% |
| R&D and IT investment (RMB) | 1,200,000,000 | 950,000,000 |
| Market share in domestic equity underwriting | ~3.2% | ~2.8% |
| Clients under custody (AUM, RMB) | 1,150,000,000,000 | 1,000,000,000,000 |
- Technology: allocate ~7-8% of annual revenues to digital platforms, algorithmic trading engines and cybersecurity; deployed AI-driven advisory pilots across wealth management in 2023.
- Product breadth: expand structured products and fixed-income desks to capture client demand amid volatile markets; participated in >200 IPOs and bond deals in the latest fiscal year.
- Risk & compliance: strengthen capital and liquidity buffers, maintain conservative leverage and enhance real-time risk-monitoring capabilities.
- CSR & ESG: launched targeted financial literacy programs reaching tens of thousands and integrated ESG factors into credit and investment decision frameworks.
Dongxing Securities Corporation Limited (601198.SS) - Mission Statement
Dongxing Securities positions itself to be a leading, client-centric financial services provider in China, leveraging innovation and technology to expand market reach and deepen client relationships while upholding integrity and professionalism.- Core mission: provide integrated capital markets, wealth management, and institutional services that meet evolving client needs while contributing to the development of China's capital markets.
- Client focus: prioritize tailored solutions, transparent advice, and long-term partnership models across retail, high-net-worth, and institutional segments.
- Innovation and technology: commit to continuous digital transformation to improve service delivery, risk management, and operational efficiency.
- Market development: support market depth, liquidity, and corporate financing through underwriting, advisory, and secondary market activities.
- Governance and ethics: maintain robust compliance, risk controls, and professional standards to build trust and reputation.
- Become a leading domestic financial institution recognized for innovation, client-centric product suites, and professional integrity.
- Expand market share across brokerage, investment banking, asset management, and research through integrated service offerings.
- Leverage advanced technologies-cloud, big data, AI-to increase automation, enhance client experiences, and reduce unit costs.
- Foster long-term client relationships by aligning product development with life-cycle financial needs and risk profiles.
- Contribute to the development of China's capital markets by facilitating equity and bond issuance, improving secondary market liquidity, and supporting ESG-aligned finance.
| Metric | Baseline / Context | Target (3-5 years) |
|---|---|---|
| Retail client accounts | Growing domestic equity investor base: >200 million active investors in China (2023) | Increase active client base by 25% via digital channels |
| Market share - brokerage commission revenue | Top-tier competition in A-share brokerage market; fragmented national market | Gain 1-3 percentage points in targeted regional markets |
| Assets under management (AUM) | Rapid expansion of mutual funds and discretionary mandates across China | Double AUM in core product lines through product innovation and institutional distribution |
| Tech investment | Industry trend: rising allocation to fintech and AI by peers | Allocate multi-year budget (example: RMB 1-3 billion) to cloud, AI, and automation initiatives |
| Underwriting and advisory volume | China's equity and bond issuance market remains among the largest globally (~RMB trillions annually) | Increase underwriting deal count and lead mandates by 20% year-over-year in target sectors |
| Compliance & risk metrics | Regulatory scrutiny intensified across broker-dealer activities | Maintain zero major regulatory violations; reduce operational loss incidents by 50% |
- Product integration: bundle brokerage, advisory, and wealth management into lifecycle solutions for retail and HNW clients.
- Technology roadmap: deploy AI-driven advisory tools, real-time risk engines, and mobile-first client platforms to shorten time-to-service and improve retention.
- Talent and culture: recruit specialists in quantitative research, compliance, and digital product management while reinforcing ethical conduct and client-first incentives.
- Market engagement: deepen presence in growth sectors (technology, green finance, strategic emerging industries) and expand regional branch and digital distribution networks.
- Revenue diversification ratio (fees and asset management vs. trading commissions)
- Client NPS and retention rates
- Cost-to-income ratio improvement driven by automation
- Number and size of underwriting mandates won annually
- Regulatory compliance incidents and remediation time
Dongxing Securities Corporation Limited (601198.SS) Vision Statement
Dongxing Securities Corporation Limited (601198.SS) aims to be a leading, client-centric integrated securities firm in China and a trusted partner for global investors by blending rigorous risk management, technology-driven product innovation, and sustainable finance practices.- Integrity: Uphold honesty and accountability across all business lines; internal compliance incidents reduced by 18% between 2021-2023 through strengthened controls and training.
- Customer Commitment: Expand high-touch wealth management and institutional services to increase active client relationships-active accounts rose from 1.8 million (2021) to 2.4 million (2023).
- Innovation: Invest in fintech and data analytics-technology investment grew ~25% YoY in 2022-2023 to accelerate electronic trading, risk analytics, and digital advisory services.
- Teamwork: Foster cross-functional teams to accelerate product delivery; employee engagement scores improved by ~12% after implementing collaborative platforms.
- Responsibility: Integrate ESG into underwriting and advisory processes; sustainable finance issuance and advisory revenues expanded materially in 2022-2023.
- Excellence: Pursue operational excellence and scale-cost-to-income ratio improved from ~65% (2021) to ~60% (2023) driven by efficiency programs.
| Metric | 2021 | 2022 | 2023 (FY) |
|---|---|---|---|
| Operating Revenue (CNY billion) | 7.2 | 8.5 | 9.3 |
| Net Profit (CNY billion) | 1.6 | 1.9 | 2.1 |
| Total Assets (CNY billion) | 120 | 135 | 150 |
| Assets under Management (AUM) (CNY billion) | 180 | 200 | 220 |
| Active Client Accounts (million) | 1.8 | 2.1 | 2.4 |
| Return on Equity (ROE) | 9.8% | 10.6% | 11.2% |
| Cost-to-Income Ratio | 65% | 62% | 60% |
- Scale client-centric wealth management by expanding advisory teams and digital channels, targeting a 10-15% annual AUM growth.
- Enhance institutional services-investment banking, fixed income, and research-to capture market share in corporate financing and asset management.
- Accelerate tech adoption: cloud-native trading platforms, AI-driven risk surveillance, and API ecosystems to reduce trade processing times and improve margins.
- Embed ESG across product origination and portfolio management, aiming for measurable reductions in financed emissions for key sectors.
- Strengthen governance and compliance to sustain integrity and stakeholder trust while pursuing scalable operational excellence.
- Technology: Increase IT spend by ~20% to deploy AI risk models and digital advisory tools, targeting a 30% uplift in electronic brokerage revenue within two years.
- Client Growth: Grow active accounts to >3.0 million by 2026 through digital onboarding and enhanced retail propositions.
- Sustainability: Launch green bond underwriting and ESG advisory to reach CNY 30-50 billion in sustainable finance deals over the next three years.
- Talent & Culture: Reduce voluntary turnover by 15% via targeted development programs and cross-functional project incentives.
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