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State-backed distressed-debt manager that buys and resolves China's non-performing loans, formerly China Huarong.
State-backed distressed-debt manager that buys and resolves China's non-performing loans, formerly China Huarong.
Buys distressed loans from banks at a discount and earns by collecting more than it paid, or by restructuring and selling the assets behind them, with some income from financial services. It was formerly China Huarong, set up by the Ministry of Finance; CITIC Group became a major shareholder in 2022 and the company took its present name.
In one line: A Chinese 'bad bank' akin to a state-run distressed-asset fund.
Moat: narrow (regulatory licence, scale). One of a handful of licensed national asset-management companies for bank NPL resolution.
Headquarters: Beijing, China · Founded: 1999 · Employees: 4,738
Size China CITIC Financial Asset Management (2799.HK) is a Hong Kong Financials company (Investment Managers) with a market value of $5.83B, the 237th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$0.57 on 6 Nov 2026.
Performance Over six months the shares fell 24.0%, against +0.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 17.6% over the last twelve months (peer median +14.4%); the operating margin is 135.4% (peer median 31.9%).
Valuation It trades at 3.1× forward earnings against a peer median of 12.6× (cheapest of 19).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$24.6B | HK$24.9B | HK$33.3B | HK$35.4B | HK$46.8B |
| Revenue growth | — | -25% | -6% | -24% | — |
| Gross profit | HK$23.6B | HK$23.8B | HK$32.3B | HK$34.4B | HK$44.7B |
| EBITDA | HK$33.7B | HK$29.1B | HK$24.0B | HK$24.2B | HK$30.4B |
| Net income | HK$12.2B | HK$11.1B | HK$9.34B | HK$1.95B | -HK$32.1B |
| Free cash flow | -HK$23.4B | -HK$34.5B | -HK$41.1B | -HK$37.5B | -HK$61.8B |
| Capital expenditure | HK$847M | HK$58.0M | HK$3.70B | HK$432M | HK$626M |
| Total debt | n/a | HK$1.08T | HK$952B | HK$955B | HK$944B |
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 | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| China CITIC Financial Asset Management 2799.HK | $5.83B | -24% | -18% | 135% | 3.1× | n/a |
| China Cinda Asset Management 1359.HK | $4.36B | -21% | -25% | 53% | 11.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2799.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.8% | +3.7% | 3rd lowest of 21 |
| 6-month return | -24.0% | +0.1% | lowest of 21 |
| Distance from 52-week high | -47.7% | -15.8% | lowest of 21 |
| Revenue growth (TTM) | -17.6% | +14.4% | lowest of 21 |
| Operating margin | 135.4% | 31.9% | highest of 21 |
| Forward P/E | 3.1× | 12.6× | cheapest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China CITIC Financial Asset Management 2799.HK | Hong Kong | $5.83B | -24% | -18% | 135% | 3.1× | n/a | n/a |
| StepStone STEP | United States | $5.73B | -15% | +51% | -53% | 18.1× | n/a | n/a |
| Vontobel VONN.SW | Switzerland | $6.18B | +36% | +11% | 25% | 12.6× | n/a | n/a |
| EFG International EFGN.SW | Switzerland | $6.26B | -1% | -1% | 26% | 14.4× | n/a | n/a |
| ChinaLin Securities 002945.SZ | China | $6.27B | 0% | +15% | 25% | n/a | n/a | n/a |
| Capital Securities 601136.SS | China | $5.41B | -21% | +1% | 36% | n/a | n/a | n/a |
| Aberdeen ABDN.L | United Kingdom | $5.36B | +2% | +2% | 37% | 14.3× | n/a | n/a |
| Ninety One N91.L | United Kingdom | $5.18B | -6% | +10% | 26% | 11.1× | n/a | n/a |
| Caitong Securities 601108.SS | China | $5.12B | -11% | -12% | 31% | 10.7× | n/a | n/a |
| HA Sustainable Infrastructure Capital HASI | United States | $5.00B | -5% | +27% | 69% | 12.6× | n/a | n/a |
| Hamilton Lane HLNE | United States | $4.99B | +1% | +19% | 58% | 12.3× | n/a | n/a |
| 360 One Wam 360ONE.NS | India | $4.95B | +3% | +25% | 33% | 35.1× | n/a | n/a |
| Colliers International CIGI.TO | Canada | $4.88B | -5% | +14% | 7% | 11.8× | n/a | n/a |
| Bridgepoint BPT.L | United Kingdom | $4.79B | +55% | +36% | 49% | 10.7× | n/a | n/a |
| China Industrial Securities 601377.SS | China | $7.12B | -9% | -11% | 29% | 13.2× | n/a | n/a |
| Federated Hermes FHI | United States | $4.73B | +14% | +13% | 28% | 10.9× | n/a | n/a |
| Nippon Life India Asset Management NAM-INDIA.NS | India | $7.22B | -4% | +23% | 68% | 39.1× | n/a | n/a |
| ICG ICG.L | United Kingdom | $7.32B | +2% | +6% | 60% | 11.9× | n/a | n/a |
| Victory Capital VCTR | United States | $7.38B | +40% | +50% | 46% | 14.0× | n/a | n/a |
| Man EMG.L | United Kingdom | $4.43B | +10% | +24% | 28% | 8.4× | n/a | n/a |
| Banca Generali BGN.MI | Italy | $7.73B | +4% | +17% | 38% | 15.3× | n/a | n/a |