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Huge state-owned conglomerate spanning banking (CITIC Bank), financial services, resources, manufacturing and engineering.
Huge state-owned conglomerate spanning banking (CITIC Bank), financial services, resources, manufacturing and engineering.
Is a holding company that collects its subsidiaries' profits, with the bank and the securities arm carrying most of them. Industrial businesses such as special steel, resources and engineering add smaller and more cyclical amounts. State-owned, it was founded in 1979 as an early channel for foreign investment into China.
In one line: China's answer to a state-run diversified conglomerate.
Moat: narrow (scale, brand). Broad state-backed conglomerate scale, but no single-business moat given its diversification.
Headquarters: Beijing, China · Founded: 1979 · Employees: 193,011
Size Citic (0267.HK) is a Hong Kong Industrials company (Regional Banks) with a market value of $47.7B, the 37th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$12.87 on 6 Nov 2026.
Performance Over six months the shares fell 2.6%, against -18.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue grew 12.6% over the last twelve months (peer median +7.7%); the operating margin is 18.2% (peer median 9.4%).
Valuation It trades at 0.40× book value against a peer median of 1.32× (3rd cheapest of 20).
Price implies The share price implies a return on equity of about 4.8%; Citic delivers 7.8%, so the price asks less than the business earns today.
Credit Citic has 5 bonds outstanding ($3.05B), rated A- by the agencies and trading like AA- at a weighted spread of 55 bp.
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$904B | HK$834B | HK$810B | HK$752B | HK$771B |
| Revenue growth | — | +3% | +8% | -2% | — |
| Gross profit | HK$406B | HK$368B | HK$349B | HK$340B | HK$358B |
| EBITDA | HK$195B | HK$233B | HK$229B | HK$213B | HK$227B |
| Net income | HK$68.6B | HK$63.7B | HK$63.1B | HK$63.5B | HK$75.5B |
| Free cash flow | HK$536B | HK$5.70B | -HK$143B | -HK$271B | -HK$111B |
| Capital expenditure | HK$48.1B | HK$59.7B | HK$31.1B | HK$26.9B | HK$23.6B |
| Total debt | n/a | HK$4.41T | HK$3.86T | HK$4.14T | HK$3.52T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Citic 0267.HK | $47.7B | -3% | +13% | 8% | 0.40× | 4.8% |
| Fosun International 0656.HK | $4.82B | +11% | -1% | -20% | 0.34× | 5.0% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0267.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.9% | +3.4% | 10th lowest of 21 |
| 6-month return | -2.6% | -18.5% | 8th highest of 20 |
| Return on equity | 7.8% | 11.1% | 6th lowest of 20 |
| Price / book | 0.40× | 1.32× | 3rd cheapest of 20 |
| Trailing P/E | 5.5× | 10.9× | 4th cheapest of 19 |
| ROE the price implies | 4.8% | 8.9% | 3rd least demanding of 20 |
| ROE delivered | 7.8% | 11.2% | 6th lowest of 19 |
| Net debt / EBITDA | 15.4× | 0.6× | most indebted of 16 |
| Bond spread | 55 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Citic 0267.HK | Hong Kong | $47.7B | -3% | +13% | 8% | 0.40× | 4.8% | 7.8% |
| COSCO SHIPPING 1919.HK | Hong Kong | $38.5B | +20% | -5% | 11% | 1.00× | 6.4% | 11.4% |
| Ckh 0001.HK | Hong Kong | $34.3B | -2% | -2% | 7% | 0.46× | 4.8% | 6.7% |
| Techtronic Ind 0669.HK | Hong Kong | $33.1B | +14% | +4% | 18% | 4.45× | 24.2% | 18.5% |
| Mtr 0066.HK | Hong Kong | $27.2B | +1% | -6% | 12% | 1.04× | 6.4% | 11.7% |
| CRRC 1766.HK | Hong Kong | $26.4B | +4% | +7% | 8% | 0.76× | 6.7% | 7.8% |
| Sany Heavy Industry 6031.HK | Hong Kong | $24.2B | -27% | +25% | 11% | 1.41× | 12.4% | 11.1% |
| S.F 6936.HK | Hong Kong | $23.9B | -12% | +11% | 11% | 1.32× | 8.9% | 11.0% |
| SHEIN Global 0625.HK | Hong Kong | $22.0B | n/a | +8% | n/a | n/a | n/a | n/a |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 47% | 5.59× | 34.3% | 46.8% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 16% | 1.69× | 14.4% | 16.0% |
| Air China 0753.HK | Hong Kong | $15.4B | -27% | +11% | -4% | 1.14× | 8.6% | -4.5% |
| China Railway 0390.HK | Hong Kong | $15.0B | -19% | -4% | 6% | 0.21× | 4.0% | 5.8% |
| Dongfang Electric 1072.HK | Hong Kong | $13.1B | -56% | +7% | 10% | 1.08× | 8.0% | 10.3% |
| China Communications Construction 1800.HK | Hong Kong | $12.8B | -26% | -5% | 5% | 0.17× | 3.7% | n/a |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 9% | 0.92× | 7.7% | 9.4% |
| COSCO SHIPPING Energy Transportation 1138.HK | Hong Kong | $12.8B | -22% | +22% | 16% | 1.53× | 9.3% | 15.7% |
| Contemporary Amperex Technology 3750.HK | Hong Kong | $179B | -43% | +59% | 25% | 3.85× | 15.8% | 25.0% |
| China Southern Airlines 1055.HK | Hong Kong | $12.3B | -32% | +12% | -4% | 1.54× | 10.6% | -4.5% |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 17% | 1.75× | 13.1% | 17.4% |
| Kingboard Laminates 1888.HK | Hong Kong | $12.2B | -26% | +32% | 26% | 5.22× | 17.7% | 26.4% |
Citic has 5 bonds outstanding with $3.05B face value. The agencies rate it A-; its bonds trade like AA-. Weighted yield 5.08%, a spread of 55 bp over government bonds.