China CITIC Financial Asset Management (2799) H1 2026 earnings summary

Executive summary

• Achieved net profit of RMB6,528 million for H1 2026, up 18.6% year-over-year; net profit attributable to shareholders rose 11.3% to RMB6,862 million.

• Total income reached RMB14,894 million, up 50.3% year-over-year after excluding one-off factors.

• Annualized ROAE improved to 21.4% and ROAA to 1.2%.

• Distressed asset management remains the main profit driver, with segment assets up 7.4% to RMB982.1 billion.

Financial highlights

• Interest income increased 29.8% year-over-year to RMB5,771 million.

• Fair value changes on distressed debt assets surged to RMB3,229 million, up 943.3%.

• Dividend income rose 188.9% to RMB1,576 million.

• Operating expenses decreased 9.7% to RMB1,746 million.

• Impairment losses under ECL model dropped 67.1% to RMB5,544 million.

• Total assets grew 6.2% to RMB1,122.8 billion; borrowings increased 8.0% to RMB849.4 billion.

Outlook and guidance

• China’s non-performing asset industry expected to benefit from increased market supply and policy support.

• Company to focus on core businesses, risk disposal, asset-liability management, and talent development in H2 2026.

• No interim dividend declared for 2026.