Asia300

CITIC Ltd.

Hong Kong

  • 1m
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Mar 24, 2017
Prev close: 11.08
Mar 24, 2017
Market cap:
Market cap(USD):
322,320.12M
41,497.32M
Shares: 29,090.26M

Currency in HKD

Company profile

Market(Ticker): HKG(267)
Sector:
Industry:
Distribution Services
Wholesale Distributors
Full time employees: 133,526

Business summary

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.

Company background

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

Financial highlights

Dec 2015

  • Local currency
  • US Dollar
Revenue 416,813M
Gross profit 241,890M
Operating income 148,579M
Income before tax 76,639M
Net income 41,812M
EBITDA 160,617M
Diluted EPS 1.57
Dividends per share 0.3
Total assets 6,803.30B
Total liabilities 6,153.97B
Total equity 479,066M
Operating cash flow -21,540M

Currency in HKD

Revenue 53,764.47M
Gross profit 31,201.25M
Operating income 19,165.12M
Income before tax 9,885.62M
Net income 5,393.30M
EBITDA 20,717.89M
Diluted EPS 0.20
Dividends per share 0.03
Total assets 877,829.26M
Total liabilities 794,045.98M
Total equity 61,813.76M
Operating cash flow -2,778.43M

Currency in USD

Valuation measures

Dec 2015

PER 8.68
ROA 0.65%
ROE 9.17%
Operating margin 35.64%
Profit margin 10.03%

Key executive

  • Vice Chairman & President: Jiong Wang
  • Vice President & Group Treasurer: Zhen Jun Luan
  • Joint Secretary: Wing Kay Choy
  • Joint Secretary: Zhenyi Tang

Share holders

  • 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%)

Address

  • Website: http://www.citic.com
  • Address: 32nd floor, CITIC Tower, 1 Tim Mei Avenue Central, Hong Kong, Hong Kong
  • Phone: +852.2820.2111

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