拟分红超58亿元，详解中信股份中期业绩：发展韧性底气十足，风险指标持续优化

Core Viewpoint - CITIC Limited reported a strong performance in the first half of 2025, with operating revenue of 368.8 billion RMB and net profit of 59.8 billion RMB, indicating robust growth across its financial subsidiaries and core industrial businesses [1][3][5] Financial Performance - All financial subsidiaries of CITIC Limited achieved profit growth in the first half of the year, with significant increases in securities business revenue and profits, leading the industry in domestic equity and bond underwriting [3][4] - The company’s overseas income reached 65.8 billion RMB, a 15% year-on-year increase, accounting for 17.9% of total revenue, up 2.6 percentage points from the previous year [4] Dividend Policy - The board proposed an interim dividend of 0.20 RMB per share, a 5.3% increase from the previous year, with a total dividend payout of 5.818 billion RMB, reflecting a steady increase in shareholder returns [1][13] Strategic Outlook - CITIC Limited aims to maintain strategic focus and leverage development opportunities while enhancing resilience and certainty in growth, with plans to further integrate financial and industrial strengths [1][6] - The company is actively pursuing industrial mergers and acquisitions in emerging sectors such as digital technology and low-altitude economy [4][10] Business Segments - The financial segment will focus on enhancing revenue-generating capabilities, while the industrial segment aims to improve profitability through operational efficiency and product innovation [10][11] - CITIC's traditional industries are concentrating on key areas such as integrated die-casting and special robots, with significant sales growth in aluminum products [3][12] Market Position and Valuation - CITIC Limited's market capitalization has increased by over 170 billion HKD since the beginning of the "14th Five-Year Plan," with a price-to-book ratio rising from 0.25 to over 0.4, indicating a recovery in asset valuation [13][14] - The company’s current price-to-book ratio is still below 1, suggesting potential for further market capitalization recovery as valuations normalize [14]