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

Executive summary

• Net profit for H1 2026 was RMB6,528 million, up 18.6% year-over-year; net profit attributable to shareholders reached RMB6,862 million, up 11.3%.

• Total income for H1 2026 was RMB25,951 million, up 36.6% year-over-year excluding one-off factors; another report cites RMB14,894 million, up 50.3% after adjustments.

• Annualized ROAE was 21.4% and ROAA was 1.2%.

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

Financial highlights

• Interest income rose 29.8% year-over-year to RMB5,770.6 million.

• Fair value changes on distressed debt assets surged to RMB3,229.0 million, up 943.3% year-over-year.

• Dividend income increased 188.9% to RMB1,575.6 million.

• Total expenses dropped 41.2% year-over-year to RMB20,656.6 million; impairment losses under ECL model down 67.1%.

• Basic and diluted EPS were RMB0.075, up from RMB0.066 in H1 2025.

Outlook and guidance

• The company expects continued macroeconomic volatility due to global energy shocks, AI-driven transformation, and geopolitical risks.

• China’s non-performing asset industry is positioned for growth, with policy support and increased supply.

• Strategic focus will remain on core businesses, risk disposal, asset-liability management, and talent development.

• No interim dividend declared for 2026.