CITIC Ltd.

10.90 HKD
-0.20
-1.80%

Hong Kong
Jun 22, 2018
Ticker
HKG(267)
Prev. close
11.10
Market cap (HKD)
322,901.93M
Market cap (USD)
41,157.07M
Shares
29,090.26M

In the news

CITIC chief confirms talks to buy assets of troubled CEFC Mar 29, 2018
Hong Kong shares mark worst day since February amid tech rout Mar 28, 2018
CITIC's 2017 net profit up 1.8% on year, revenue grows 18% Mar 28, 2018
Nikkei Asia300 slides on US-China trade war fears Mar 23, 2018
Hong Kong stocks tumble on US-China trade war fears Mar 23, 2018

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.

Business Summary

CITIC Ltd. is an investment holding company, which engages in finance, energy, engineering, manufacturing, and real estate businesses. It operates through the following segments: Financial Services, Resources and Energy, Manufacturing, Engineering Contracting, Real Estate, and Other Businesses. The Financial Services spans the banking, trust, asset management, securities and insurance services. The Resources and Energy segment comprises of the exploration, processing, and trading of resources and energy products, including crude oil, coal, and iron ore. The Manufacturing segment includes manufacturing of special steels, heavy machineries, aluminium wheels, and other products. The Engineering Contracting segment involves contracting and design services for infrastructure, real estate, and industrial projects, etc. The Real Estate segment manages the development, sale and holding of properties. The Other Businesses segment focuses on investment and operation of infrastructures, telecommunication services, motor and food and consumer products business, commercial aviation services, publication services, and others. The company was founded in 1987 and is headquartered in Hong Kong.

Financial Highlights

Dec 2017	HKD	USD
Revenue	450,536M	57,814.26M
Gross Profit	227,667M	29,214.98M
Operating income	137,256M	17,613.14M
Income before tax	69,330M	8,896.65M
Net income	43,902M	5,633.64M
EBITDA	151,427M	19,431.61M
Diluted EPS	1.51	0.19
Dividends Per Share	0.36	0.04
Total Assets	7,520.73B	962,063.48M
Total liabilities	6,734.97B	861,546.93M
Total equity	543,078M	69,471.29M
Operating cash flow	78,940M	10,129.84M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	409,747M	402,124M	395,310M	381,662M	450,536M
Gross Profit	169,988M	201,261M	236,964M	215,339M	227,667M
Operating income	96,703M	117,105M	146,750M	130,833M	137,256M
Income before tax	84,768M	70,086M	74,059M	65,592M	69,330M
Net income	48,430M	39,834M	40,501M	32,809M	43,902M
EBITDA	105,654M	127,082M	158,524M	143,125M	151,427M
Diluted EPS	13.27	1.60	1.57	0.93	1.51
Dividends Per Share	0.35	0.21	0.30	0.33	0.36
Total Assets	5,321.70B	5,947.83B	6,803.30B	7,239.48B	7,520.73B
Total liabilities	4,805.15B	5,372.32B	6,153.97B	6,550.68B	6,734.97B
Total equity	385,614M	431,960M	479,066M	483,129M	543,078M
Operating cash flow	-161,602M	48,240M	-17,655M	255,041M	78,940M

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	52,825.30M	51,855.63M	50,990.81M	49,167.67M	57,814.26M
Gross Profit	21,915.15M	25,953.48M	30,565.85M	27,741.08M	29,214.98M
Operating income	12,467.12M	15,101.19M	18,929.19M	16,854.58M	17,613.14M
Income before tax	10,928.43M	9,037.89M	9,552.82M	8,449.90M	8,896.65M
Net income	6,243.68M	5,136.76M	5,224.20M	4,226.62M	5,633.64M
EBITDA	13,621.09M	16,387.77M	20,447.92M	18,438.10M	19,431.61M
Diluted EPS	1.71	0.20	0.20	0.11	0.19
Dividends Per Share	0.04	0.02	0.03	0.04	0.04
Total Assets	686,340.08M	766,982.11M	877,829.26M	933,748.07M	962,063.48M
Total liabilities	619,720.44M	692,769.58M	794,045.98M	844,906.76M	861,546.93M
Total equity	49,732.58M	55,701.91M	61,813.76M	62,313.89M	69,471.29M
Operating cash flow	-20,834.01M	6,220.75M	-2,277.30M	32,855.70M	10,129.84M

Valuation Measures

Dec 2017
PER	7.47
ROA	0.59%
ROE	8.55%
Operating margin	30.46%
Profit margin	9.74%

Key executives

Vice Chairman & President: Jiong Wang
Assistant President: Ning Luo
Joint Secretary: Wing Kay Choy
Joint Secretary: Kang Wang

Shareholders

Government of China (58.1%)
Chia Tai Bright Investment Co. Ltd. (20%)
Youngor Group Co., Ltd. (5%)
The Vanguard Group, Inc. (0.5%)
BlackRock Fund Advisors (0.5%)
State Street Global Advisors Asia Ltd. (0.2%)
Tokio Marine Holdings, Inc. (0.1%)
Norges Bank Investment Management (0.1%)
Dimensional Fund Advisors LP (0.1%)
BlackRock Advisors (UK) Ltd. (0.1%)

Contact Details

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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CITIC Pacific Mining Management Pty Ltd.
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Silver Ascot Holdings Ltd.
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Competitors

Fushun Special Steel Co., Ltd. Class A
Le Belier SA
SCHMOLZ + BICKENBACH AG
MARTINREA International Inc.
Georg Fischer AG
Superior Industries International, Inc.
China Literature Ltd.
Outotec Oyj
SUEZ SA
21Vianet Group, Inc. Sponsored ADR Class A

Last Updated on 22 Jun, 2018

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