Core Viewpoint - China CITIC Financial Asset (02799.HK) has released a positive profit forecast, expecting a net profit of approximately 6 to 6.2 billion RMB for the first half of 2025, representing a year-on-year growth of about 12.5% to 16.3% [1] Financial Performance - The company reported a significant increase in net profit for 2024, reaching 9.618 billion RMB, which is 5.4 times that of the previous year, with total revenue of 112.766 billion RMB, a year-on-year growth of 60% [3] - The company's market share in the acquisition and disposal of non-performing assets remains among the industry leaders, with a balance of approximately 180 billion RMB in non-performing asset debt as of 2024 [3] Strategic Developments - The company aims to become a benchmark in China's non-performing asset management industry, leveraging deep collaboration with CITIC Group to expand its core business [2] - The company has successfully revitalized several projects, including the Guangxi Wuxiang Ocean City and Shanghai Yihua Courtyard, contributing to its high-quality business development [4][5][6] Investment Opportunities - The company has made significant strides in equity investment, with a 191% increase in equity stakes in joint ventures and associates, totaling 216.325 billion RMB by the end of last year [7] - Recent investments include increasing stakes in major banks such as Everbright Bank and Bank of China, enhancing its strategic asset allocation in the energy sector through a 26 billion RMB investment in State Grid New Source Holdings [8][9] Market Recognition - The company has been included in the MSCI China Index, reflecting its growing influence and investment value in the international capital market [10][11] - International institutions, including Moody's and Fitch, have recognized the company's improved financial stability and risk management capabilities, leading to upgraded ratings [10][12] Industry Outlook - The introduction of new regulations for asset management companies is expected to create a favorable environment for the non-performing asset industry, presenting significant growth opportunities [13]

Core Viewpoint - CITIC Financial Assets is expected to achieve a net profit of at least 6 billion to 6.2 billion RMB in the first half of 2025, indicating a strong recovery and potential to exceed 10 billion RMB for the entire year, reminiscent of its peak performance seven years ago [2][13]. Group 1: Financial Performance - The projected net profit for the first half of 2025 represents a year-on-year growth of approximately 12.5% to 16.3%, and a growth of 23.9% to 28.2% when excluding the impact of the leasing company [2]. - In 2024, CITIC Financial Assets achieved a total revenue of 112.77 billion RMB, a year-on-year increase of 60%, and a net profit of 9.618 billion RMB, marking a 440% increase [13]. - The company's total assets reached 984.229 billion RMB in 2024, reflecting a 17% year-on-year growth [13]. Group 2: Business Strategy - CITIC Financial Assets has significantly increased its focus on core business operations, with the income from non-performing asset management reaching 90.671 billion RMB in 2024, accounting for 84.4% of total revenue, a 35.4% increase from 2023 [2]. - The market-oriented debt-to-equity swap business saw a remarkable growth of 103.7% year-on-year [2]. - The company has actively engaged in equity investments, increasing its stake in major banks and other enterprises, including a 18.02% stake in China Bank [3][17]. Group 3: Risk Management - CITIC Financial Assets reported a total impairment loss of 21.8 billion RMB in the first half of 2025, with cumulative impairment losses reaching 327.9 billion RMB since 2018 [7][10]. - The company has successfully reduced its exposure to the real estate sector, with the balance of real estate-related non-performing assets dropping to 78.8 billion RMB, down from nearly 200 billion RMB in 2019, a reduction of over 60% [10]. Group 4: Financial Support and Innovation - CITIC Group has committed to providing an average financial support of 69.68 billion RMB per year over the next three years, a significant increase of 778% compared to 2023 [4][6]. - The company has successfully launched a major asset-backed securities product with a scale of 10.01 billion RMB, marking it as the largest corporate ABS product issued in the year [6]. Group 5: Key Developments - CITIC Financial Assets has initiated a large-scale recruitment drive to enhance its workforce, focusing on diverse talent acquisition [19]. - The company has been involved in significant projects, such as the successful revitalization of the Shanghai Yihua project, which generated over 4 billion RMB in sales [20].

Core Viewpoint - CITIC Financial Assets (02799.HK) is expected to report a net profit attributable to shareholders of RMB 6 billion to 6.2 billion for the first half of 2025, representing a year-on-year growth of 12.5% to 16.3%, and a growth of 23.9% to 28.2% when excluding the impact of the leasing company's off-balance sheet items [1] Group 1 - The company emphasizes its role in financial rescue and counter-cyclical adjustment, aligning with national strategies to mitigate financial risks while enhancing its core business capabilities [1] - Significant growth in main business revenues is noted, particularly in asset recovery and equity business, contributing to steady improvement in asset returns [1] - The company has strengthened its financing capabilities, with continuous innovation in financing tools and a year-on-year decrease in financing costs [1] Group 2 - The risk management system is undergoing further development, with the company recognizing asset impairment losses and non-performing debt assets amounting to approximately RMB 21.8 billion, aimed at enhancing risk resilience [1]

Group 1 - The core viewpoint of the announcement is that CITIC Financial Asset Management Co., Ltd. expects a net profit attributable to shareholders of approximately RMB 6 billion to 6.2 billion for the first half of 2025, representing a year-on-year growth of about 12.5% to 16.3%, and a growth of approximately 23.9% to 28.2% when excluding the impact of the leasing company's deconsolidation [2] - The company emphasizes its commitment to implementing central financial work directives, enhancing its main business capabilities, and actively serving national strategies while managing financial risks [2] - The company reported a significant increase in main business income, particularly in business revitalization and equity business, alongside improved asset returns and reduced financing costs year-on-year [2] Group 2 - The year 2025 is identified as a critical year for CITIC Financial Asset Management to achieve significant improvements in quality and efficiency, aiming to become an industry benchmark within five years [3] - The company plans to advance its "One Three Five" strategy and is determined to complete the third step of its "Two-Year Three-Step" plan [3]

Core Viewpoint - CICC has raised the profit forecast for CITIC Financial Assets (02799) for 2025 and 2026 by 16% and 20% to 11.5 billion and 11.4 billion respectively, due to growth in equity business income and a decline in financing costs [1] Group 1: Profit Forecast and Performance - The company expects a year-on-year increase in net profit attributable to shareholders of approximately 12.5% to 16.3% for 1H25, estimating net profit to be around 6 billion to 6.2 billion [2] - Excluding the impact of the financial leasing company, the year-on-year growth is projected to be about 23.9% to 28.2% [2] - The company plans to achieve its strategic goal of "significant improvement in quality and efficiency" by the end of 2025 and aims to become an industry benchmark by 2026-2027 [2] Group 2: Financing and Investment - The company has strengthened its financing capabilities in 1H25, with financing costs decreasing year-on-year [3] - The estimated financing cost for 2H24 is 3.63%, down 20 basis points year-on-year and 17 basis points compared to 1H24 [3] - The company has increased its holdings in Bank of China and China Everbright Bank, with a one-time investment income estimated between 17.9 billion and 20.6 billion [2] Group 3: MSCI Inclusion and Market Impact - The company was included in the MSCI China Index, with adjustments to take effect after August 26, potentially attracting passive fund inflows of approximately 1.1 billion USD [3] Group 4: Financing Authorization - The company's shareholders have authorized the board to issue new shares, with the total number not exceeding 20% of the currently issued domestic and H-shares, valid until the next shareholders' meeting in 2024 or the end of the 2025 shareholders' meeting [4]

Core Viewpoint - CICC has raised the profit forecast for CITIC Financial Assets (02799) for 2025 and 2026 by 16% and 20% to 11.5 billion and 11.4 billion respectively, due to growth in equity business income and declining funding costs [1] Group 1: Profit Forecast and Performance - The company expects a year-on-year increase in net profit attributable to shareholders of approximately 12.5% to 16.3% for 1H25, estimating net profit to be around 6 billion to 6.2 billion [2] - Excluding the impact of the financial leasing company, the year-on-year growth is projected to be about 23.9% to 28.2% [2] - The company aims to achieve its strategic goal of "significant improvement in quality and efficiency" by the end of 2025 and to become an industry benchmark by 2026-2027 [2] Group 2: Revenue Growth and Investment - The expected profit growth is attributed to increased income from equity business and a decrease in financing costs [2] - The company has increased its holdings in Bank of China and China Everbright Bank, with a significant rise in main business income [2] - The company has confirmed a one-time investment income of 17.9 billion to 20.6 billion for 1H25, compared to a loss of 0.1 billion in 1H24 [2] Group 3: Financing Costs and Risk Management - The company has strengthened its financing capabilities, with financing costs decreasing year-on-year [3] - The estimated financing cost for 2H24 is 3.63%, down 20 basis points year-on-year and 17 basis points compared to 1H24 [3] - The company has reported an increase in impairment provisions, with a total of approximately 21.8 billion for 1H25, enhancing its risk resistance capacity [3] Group 4: MSCI Inclusion and Fund Inflows - The company will be included in the MSCI China Index, with adjustments effective after August 26, potentially attracting passive fund inflows of approximately 110 million USD [3] Group 5: Financing Authorization - The company's shareholders have authorized the board to issue new shares, with a limit of 20% of the total number of issued domestic and H shares, valid until the next shareholders' meeting in 2024 or the end of the 2025 meeting [4]

Core Viewpoint - The company expects a net profit of approximately RMB 6 billion to 6.2 billion for the first half of 2025, representing a year-on-year growth of about 12.5% to 16.3% [1]. Financial Performance - The net profit growth, excluding the impact of the leasing company, is projected to be around 23.9% to 28.2% compared to the same period last year [1]. - The company has implemented measures to enhance its main business capabilities, resulting in a steady increase in operating performance [1]. - The company reported an unrealized fair value loss of approximately RMB 21.8 billion related to major non-listed assets, indicating a focus on risk management and asset quality [1]. Strategic Goals - The year 2025 is identified as a critical year for the company to achieve significant improvements in quality and efficiency over three years and to establish itself as an industry benchmark within five years [2]. - The company plans to advance its "One-Three-Five" strategy and aims to enhance operational quality while better serving national strategies and the real economy [2].

格隆汇8月18日丨中信金融资产(02799.HK)公告，根据集团按照国际财务报告准则初步核算的中期财务 数据，集团2025年上半年归属于公司股东的净利润预计约为人民币60亿元至62亿元，较上年同期增长约 12.5%至16.3%，剔除金租公司出表影响，较上年同期增长约23.9%至28.2%。 2025年上半年，集团认真落实中央金融工作部署，充分发挥金融救助和逆周期调节功能，积极服务国家 战略，防范化解金融风险，按照"优资产、增收入、抓回现、压不良、促改革、练内功"工作要求，持续 强化主业能力建设，有力服务实体经济，持续巩固向上向好发展态势，经营业绩持续增长：(i)把握国家 政策机遇和行业发展新旧转换的关键期，持续加大主业投放，纾困盘活业务、股权业务等主业收入增长 明显，资产回报稳步提升；(ii)融资能力持续加强，融资工具不断创新，融资成本同比下降；(iii)全面风 险管理体系建设持续深化，进一步夯实资产质量，当期计提资产减值损失和不良债权资产等主要非上市 资产未实现公允价值变动损失约人民币218亿元，未来风险抵御能力持续增强。 ...

Core Viewpoint - The company expects a net profit of approximately RMB 6 billion to 6.2 billion for the first half of 2025, reflecting a year-on-year growth of about 12.5% to 16.3%, and a growth of approximately 23.9% to 28.2% when excluding the impact of the leasing company's off-balance sheet [1] Group 1 - The company is committed to implementing central financial work directives, enhancing financial assistance and counter-cyclical adjustment functions, and actively serving national strategies while managing financial risks [1] - The company aims to strengthen its core business capabilities and improve operational performance by focusing on asset quality, income growth, and reform initiatives [1] - The company has seen significant growth in its main business revenues, particularly in business revitalization and equity operations, while also improving asset returns and reducing financing costs year-on-year [1] Group 2 - The year 2025 is crucial for the company as it aims to achieve significant quality and efficiency improvements over three years and establish itself as an industry benchmark within five years [2] - The company plans to advance its "One-Three-Five" strategy and achieve its strategic goals for quality and efficiency enhancement [2] - The company is focused on becoming a benchmark in the non-performing asset industry to better serve national strategies and the real economy [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 China CITIC Financial Asset Management Co., Ltd. 2799 業績預告 中國中信金融資產管理股份有限公司（「本公司」，本公司及其附屬公司合併口徑統稱「本 集團」）根據《證券及期貨條例》（香港法例第571章）第XIVA部及《香港聯合交易所有限公 司證券上市規則》第13.09條的要求發佈本公告。 根據本集團按照國際財務報告準則初步核算的中期財務數據，本集團2025年上半年歸屬 於本公司股東的淨利潤預計約為人民幣6 0億元至6 2億元，較上年同期增長約12.5%至 16.3%，剔除金租公司出表影響，較上年同期增長約23.9%至28.2%。 2025年上半年，本集團認真落實中央金融工作部署，充分發揮金融救助和逆周期調節功 能，積極服務國家戰略，防范化解金融風險，按照「優資產、增收入、抓回現、壓不良、 促改革、練內功」工作要求，持續強化主業能力建設，有力服務實體經濟， ...