CITIC (267) H1 2026 earnings summary

Executive summary

• Operating revenue for the first half of 2026 reached RMB408.8 billion, up 10.7% year-over-year, with net profit at RMB70.8 billion, up 18.3% year-over-year, and profit attributable to ordinary shareholders at RMB33.8 billion, up 8.1% year-over-year.

• Total consolidated assets grew 4.9% from year-end 2025 to RMB13.65 trillion, and ordinary shareholders' funds increased 2.4% to RMB800.7 billion.

• Interim dividend of RMB0.21 per share was declared, a 5% increase year-over-year, totaling RMB6.1 billion.

• Moody’s upgraded the rating outlook to “positive” and MSCI raised the ESG rating from A to AA.

Financial highlights

• Revenue: RMB408.8 billion (+10.7% YoY); Net profit: RMB70.8 billion (+18.3% YoY); EPS: RMB1.16 (+8.1% YoY).

• Net interest income rose 5.3% YoY; net fee and commission income up 22.3% YoY; sales of goods and services up 8.4% YoY.

• Cost-to-income ratio decreased by 2.4 percentage points YoY; external interest expenses fell 16% YoY.

• Total assets: RMB13.65 trillion (+4.9% from Dec 2025); total liabilities: RMB12.08 trillion (+4.8%).

• Interim dividend: RMB0.21/share (+5% YoY).

Outlook and guidance

• Management expects continued resilience in the Chinese economy and plans to leverage integrated advantages in technology, industry, and finance.

• Focus areas include advancing national strategies, strengthening investment as a growth driver, management excellence, and risk management.