Asia300

CITIC Ltd.

Hong Kong

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
Aug 21, 2017
Prev close: 11.38
Aug 21, 2017
Market cap:
Market cap(USD):
331,047.20M
42,312.10M
Shares: 29,090.26M

Currency in HKD

Company profile

Market(Ticker): HKG(267)
Sector:
Industry:
Distribution Services
Wholesale Distributors
Full time employees: 127,610

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 2016

  • Local currency
  • US Dollar
Revenue 380,822M
Gross profit 215,202M
Operating income 131,846M
Income before tax 65,524M
Net income 32,782M
EBITDA 144,083M
Diluted EPS 0.93
Dividends per share 0.33
Total assets 7,237.99B
Total liabilities 6,550.01B
Total equity 482,760M
Operating cash flow 254,859M

Currency in HKD

Revenue 49,059.46M
Gross profit 27,723.43M
Operating income 16,985.08M
Income before tax 8,441.14M
Net income 4,223.14M
EBITDA 18,561.51M
Diluted EPS 0.11
Dividends per share 0.04
Total assets 933,555.37M
Total liabilities 844,820.09M
Total equity 62,266.30M
Operating cash flow 32,832.25M

Currency in USD

Valuation measures

Dec 2016

PER 11.93
ROA 0.46%
ROE 6.81%
Operating margin 34.62%
Profit margin 8.60%

Key executive

  • Vice Chairman & President: Jiong Wang
  • Joint Secretary: Wing Kay Choy
  • Joint Secretary: Kang Wang

Share holders

  • 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(0.4%)
  • Hang Seng Investment Management Ltd.(0.2%)
  • State Street Global Advisors Asia Ltd.(0.2%)
  • Dimensional Fund Advisors LP(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

Copyright © 2017 FactSet Research Systems Inc. All rights reserved.