According to the Fangzheng Securities Research Report, 1h26 CITIC Construction Investment achieved operating income of 16.23 billion yuan/yoy +51.1%; realized net profit of 7.64 billion yuan/yoy +69.4%. Looking at the second quarter of a single quarter, the company's 2Q26 brokerage, investment banking, asset management, net interest, and investment income were 26.6 billion yuan, 5.0, 4.0, 0.4, and 4.60 billion yuan, respectively, +66%, -34%, -23%, -78%, and +73% year-on-year, respectively. In terms of equity investment, CITIC Construction Investment launched a total of 21 investment projects in the first half of the year, with a total investment amount of 770 million yuan. 12 new IPO applications were added to the invested projects. 1h26 CITIC Construction Investment achieved operating income of 1.77 billion yuan/YoY +373%, accounting for 10.9% of the company's total; realized net profit of 1.32 billion yuan/yoy +375%, accounting for 17.2% of the company's total. In terms of brokerage business, the company's 1H26 newly developed clients/YoY +143.92%. The total number of cumulative customers at the end of the period exceeded 19 million, and the “Dragonfly Point” app ranked 7th in the industry for monthly activity. In terms of the dual finance business, the company added 12,500 new securities financing accounts to 1H26, +40.9%, and the balance of financing and securities lending at the end of the period was 108.6 billion yuan/27.6% compared to the beginning of the year, with a market share of 3.60%. Maintain a “Recommended” rating.

According to the Fangzheng Securities Research Report, 1h26 CITIC Construction Investment achieved operating income of 16.23 billion yuan/yoy +51.1%; realized net profit of 7.64 billion yuan/yoy +69.4%. Looking at the second quarter of a single quarter, the company's 2Q26 brokerage, investment banking, asset management, net interest, and investment income were 26.6 billion yuan, 5.0, 4.0, 0.4, and 4.60 billion yuan, respectively, +66%, -34%, -23%, -78%, and +73% year-on-year, respectively. In terms of equity investment, CITIC Construction Investment launched a total of 21 investment projects in the first half of the year, with a total investment amount of 770 million yuan. 12 new IPO applications were added to the invested projects. 1h26 CITIC Construction Investment achieved operating income of 1.77 billion yuan/YoY +373%, accounting for 10.9% of the company's total; realized net profit of 1.32 billion yuan/yoy +375%, accounting for 17.2% of the company's total. In terms of brokerage business, the company's 1H26 newly developed clients/YoY +143.92%. The total number of cumulative customers at the end of the period exceeded 19 million, and the “Dragonfly Point” app ranked 7th in the industry for monthly activity. In terms of the dual finance business, the company added 12,500 new securities financing accounts to 1H26, +40.9%, and the balance of financing and securities lending at the end of the period was 108.6 billion yuan/27.6% compared to the beginning of the year, with a market share of 3.60%. Maintain a “Recommended” rating.