|Mar 24, 2017|
|Mar 24, 2017|
Currency in HKD
|Full time employees:||133,526|
CITIC Ltd. is an investment holding company, which engages in the businesses of financial services, resources and energy, engineering contracting, manufacturing and real estate. It operates through six segments: Financial Services, Resources and Energy, Manufacturing, Engineering Contracting, Real Estate, and Other Businesses. The Financial Services spans the banking, trust, insurance, and securities sectors. The Resources and Energy segment comprises of the exploration, mining, processing, and trading of energy products and mineral resources as well as power generation. The Manufacturing segment includes the manufacture of special steel, heavy equipment, and aluminum wheels, and castings. The Engineering Contracting segment serves infrastructure, housing, industrial construction, and municipal engineering projects. The Real Estate segment manages residential and commercial properties. The Other Businesses segment provides telecommunications and internet services and the leasing and sale of satellite transponders. The company was founded in 1987 and is headquartered in Hong Kong.
Citic is China's largest state-run conglomerate. It is engaged in a wide variety of businesses, from property development to heavy industry to resources, though its primary focus is the financial sector, including banking and securities. It is affiliated with Japanese trading house Itochu and Thai conglomerate Charoen Pokphand Group.
Subsidiaries Citic Securities, China's largest securities company, and China Citic Bank, a second-tier bank, generate steady revenues.
One group business that has been struggling is Citic's iron ore mine development project in Western Australia.
In 2014, Citic transferred its assets, including shares in group companies, from its unlisted intermediary holding company to its Hong Kong-based listed company as part of reforms of state-run companies. State-run investment funds, such as Qatar Holding and Singapore's Temasek Holdings, invested in the Hong Kong company.
Citic got its start as China International Trust and Investment Corp., which was established in 1979 with the backing of Deng Xiaoping.
Citic founder Rong Yiren was dubbed the "Red Capitalist" and later served as vice president of China. Citic Chairman Chang Zhenming is known to have close ties with Chinese President Xi Jinping.
In the news
Net profit rose 3% in 2016, but lawsuit could disrupt Australian iron ore business
March 24, 2017 1:40 am JST
March 23, 2017 7:52 pm JST
Steadier Wall Street pushes Hang Seng to 5th gain in 6 sessiions
March 23, 2017 3:06 pm JST
Land purchase is crucial in competitive market, analyst says
March 23, 2017 12:00 am JST
March 21, 2017 2:10 pm JST
March 20, 2017 7:32 pm JST
Website members are assured high-priced offerings are genuine
March 16, 2017 5:11 am JST
- Local currency
- US Dollar
|Income before tax||76,639M|
|Dividends per share||0.3|
|Operating cash flow||-21,540M|
Currency in HKD
|Income before tax||9,885.62M|
|Dividends per share||0.03|
|Operating cash flow||-2,778.43M|
Currency in USD
- Vice Chairman & President: Jiong Wang
- Vice President & Group Treasurer: Zhen Jun Luan
- Joint Secretary: Wing Kay Choy
- Joint Secretary: Zhenyi Tang
- Government of China(78.1%)
- Youngor Group Co., Ltd.(5%)
- National Council for Social Security Fund(4.2%)
- The Vanguard Group, Inc.(0.5%)
- BlackRock Fund Advisors(0.3%)
- Hang Seng Investment Management Ltd.(0.2%)
- Dimensional Fund Advisors LP(0.2%)
- State Street Global Advisors Asia Ltd.(0.2%)
- Norges Bank Investment Management(0.2%)
- Tokio Marine Holdings, Inc.(0.1%)
- Website: http://www.citic.com
- Address: 32nd floor, CITIC Tower, 1 Tim Mei Avenue Central, Hong Kong, Hong Kong
- Phone: +852.2820.2111
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.