【高端访谈】带着“好资产”穿越周期 当好金融体系“稳定器”——访中国中信金融资产党委书记、董事长刘正均

Core Viewpoint - In 2025, China CITIC Financial Asset Management Co., Ltd. reported a total revenue increase of 43% to 80.476 billion yuan, with a net profit of 11.086 billion yuan, reflecting a 17% growth after excluding the impact of the leasing company. The company achieved an annualized return on equity (ROE) of 18.7%, with all three main business segments showing revenue growth, and the stock price rising by 28% throughout the year, leading to its inclusion in the MSCI China Index [2][5]. Group 1: Business Performance - The company’s main business saw new investments exceeding 178.6 billion yuan in 2025, marking an 8% year-on-year increase, maintaining its leading position in the industry [3]. - From 2023 to 2025, the company's net profit attributable to shareholders increased from 1.766 billion yuan to 11.086 billion yuan, achieving three consecutive years of growth [5]. - The company has maintained a continuous decline in both non-performing asset balance and non-performing asset ratio for three consecutive years, with the provision coverage ratio exceeding regulatory requirements [5]. Group 2: Strategic Insights - The chairman emphasized that the core value of asset management companies (AMCs) lies in risk resolution and asset revitalization, rather than merely acquiring non-performing assets [3][4]. - The company aims to identify and invest in high-quality assets that align with national strategic directions, focusing on sectors such as real estate relief, small financial institutions, technology finance, and green finance [3][4]. - The company has adopted a proactive approach to asset management, focusing on uncovering and allocating good assets from non-performing ones, thereby maximizing asset preservation and value enhancement [4]. Group 3: Risk Management and Industry Role - The company has positioned itself as a stabilizer in the financial system, playing a unique role in counter-cyclical adjustment and financial rescue, with a total of 532.9 billion yuan invested in key regions and sectors since March 2022 [9][10]. - The company has actively participated in risk resolution for small financial institutions, acquiring approximately 240 billion yuan in non-performing asset packages from small banks since 2022 [10]. - The company has developed a replicable model for risk resolution, particularly in the real estate sector, demonstrating its ability to address complex issues that traditional financial tools cannot solve [7][8].