CITIC (CTPCF) Q2 2026 Earnings Report
CTPCF Q2 2026 EPS Results
- Actual EPS
- $0.17
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $0.16
CTPCF Q2 2026 Revenue Results
- Actual Revenue
- $59.40B
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +17.64%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/28/2026
- Time
- Before Open
- Conference Call
- Friday, August 28, 2026
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
The call was strongly positive overall. CITIC reported double-digit growth in revenue, net profit, fee income, overseas revenue and several major businesses, alongside improved operating efficiency, asset quality, ratings, capital-market positioning and shareholder returns. The company also highlighted record results at CITIC Securities, strong growth at CITIC Metal, expansion of international operations and continued technology investment. Negative items were concentrated in specific businesses and included margin pressure at CITIC Bank, lower profits at advanced intelligent manufacturing and Nanjing Steel, losses in agriculture and New Consumption, and revenue declines in construction and parts of steel. Highlights significantly outweighed the lowlights.
Management said that in the second half it will continue to implement the 3-3-5 strategy, enhance valuation innovation capability and give even higher returns to shareholders and investors; during the 15th Five-Year Plan it will strengthen core financial business, accelerate emerging and future industries including new energy, new materials, robotics and life sciences, and retreat from sectors not good for further investment, with the legal person company number reduced by 13% since 2024. CITIC Financial Holdings will enhance internal, supply and cohesion capabilities, while CITIC Securities will pursue 3 core measures of improving quality and efficiency, strengthening competition and expanding internationally, using a 3-step strategy to deploy the Asia Pacific hub, expand the global network and enrich business forms in overseas markets; its RMB 16 billion capital increase will be used for international business development. CITIC Bank’s plan for the following 5 years is the 3-3 strategy covering customer management, structural optimization and system and capabilities, with 3 excellence and 3 leadings, including becoming an excellent trading investment bank. CITIC Special Steel will continue internationalization and high-end product development, including its European innovation and R&D center, European processing base and global marketing network, while CITIC Metal will deepen global resource layout and focus on copper and aluminum projects in Africa, South America, Southeast Asia and Central Asia, using its trade plus model across 3 areas: the place of resource acquisition, the world major consumer market and the center of global traders. The company has also started work on a new shareholder return plan covering the 15th Five-Year Plan period.
- Strong Interim Revenue and Profit GrowthHalf 1 2026 revenue reached RMB 408 billion, up 10.7% year-over-year, while net profit reached RMB 70.8 billion, up 18.3%. Profit attributable to shareholders reached RMB 33.8 billion, up 8.1%, mainly driven by profit growth at CITIC Securities, CITIC Metal and banking businesses.
- Improved Revenue Mix and Fee IncomeNet fee and commission income reached RMB 39.7 billion, increasing 22% year-over-year. Financial business income represented 24.7% of total income, up 1.6 percentage points year-over-year, supported by growth in CITIC Securities brokerage, investment banking and asset management, CITIC Bank agency business and trust business.
- Rapid International Business GrowthOverseas revenue reached RMB 84.7 billion, up 29% year-over-year, with its share of total revenue reaching 20.7%, up 2.9 percentage points. Overseas total assets reached RMB 1.48 trillion, increasing 11% from the beginning of the year. CITIC Securities overseas revenue rose 71% year-over-year to RMB 11.8 billion.
- Operating Efficiency and Financing Cost ImprovementsThe company’s cost-to-income ratio decreased 2.6 percentage points year-over-year to 31.6%. Nonfinancial business interest expenses totaled RMB 4.76 billion, down RMB 900 million year-over-year, or 3%. Profit to labor cost reached 197%, increasing 19 percentage points year-over-year.
- Balance Sheet and Debt OptimizationTotal assets reached RMB 13.65 trillion at the end of the first half, up 4.9% from the beginning of the year. Financial-sector assets reached RMB 12.96 trillion, up 5.2%, while CITIC Bank assets reached RMB 10.39 trillion, up 2.5%, and CITIC Securities assets reached RMB 2.47 trillion, up 19%. Nonfinancial business interest-bearing liabilities decreased 3.9% from the beginning of the year, supported by debt reduction at CITIC headquarters, CITIC Metal and CITIC Steel.
- Higher Earnings per Share and Interim DividendEarnings per share increased 8.1% year-over-year to RMB 1.16. The company planned an interim dividend of RMB 0.21 per share, an increase of 5% year-over-year.
- Improved Ratings and ESG AssessmentCITIC maintained its Moody’s A3 rating, with the outlook revised from stable to positive, described as the best level in its history. CITIC Bank’s Ba2 rating outlook was also revised from stable to positive, while the MSCI ESG rating improved from A to A+.
- Financial Services Segment GrowthThe Financial Service segment generated revenue of RMB 160.6 billion, up 14.5% year-over-year, and profit attributable to shareholders of RMB 31.7 billion, up 11.8%. Segment total assets reached RMB 11.69 trillion.
- CITIC Bank Profitability and Asset QualityCITIC Bank net profit attributable to shareholders reached RMB 37.6 billion, up 3.1% year-over-year. Operating expenses decreased 2.1% year-over-year, and the cost-to-income ratio fell 1.35 percentage points to 25.46%. Deposits and loans increased 3.8% and 2.5%, respectively, from the beginning of the year. The nonperforming loan ratio remained stable at 1.15%, while the provision coverage ratio was 203.12%.
- CITIC Bank Market Performance and Customer GrowthFrom January through August, CITIC Bank’s A shares and H shares rose 17.9% and 23.9%, respectively, ranking first in growth among joint-stock commercial banks. Its market value reached approximately RMB 460 billion, ranking second among joint-stock commercial banks. Since the 14th Five-Year Plan, corporate base customers and effective customers increased by 130,000 and 153,000, respectively, while private banking clients increased from 51,000 to 105,000.
- CITIC Securities Record Results and Market LeadershipCITIC Securities reported revenue of RMB 49.7 billion and net profit attributable to shareholders of RMB 23.3 billion, up 50% and 69.6% year-over-year, respectively. Revenue from all major business lines achieved double-digit growth. CITIC Securities ranked third in the domestic market and first in equity underwriting and bond underwriting scale, while Chinese-market M&A deal size ranked first in the industry.
- CITIC Securities International ExpansionCITIC Securities’ international business revenue represented 23.7% of total revenue in the first half. The company completed a private placement and settlement, including the first RMB 10 billion equivalent tranche on August 14. The proceeds will be used for international business development, with plans to establish branches in the Middle East and Frankfurt, Germany, expand its Asia-Pacific, European and American presence, and build cross-market service capabilities.
- Trust and Insurance Business GrowthCITIC Trust recorded revenue of RMB 2.937 billion and profit of RMB 1.722 billion, up 0.7% and 9.8% year-over-year, respectively, while assets under management rose to RMB 4.15 trillion. CITIC Prudential Life income reached RMB 24.431 billion, up 29.6%, annualized new premiums increased 21%, and new business value increased 13% year-over-year. Its integrated risk rating remained at category AA under Class A.
- Financial Holdings Scale and Capital EfficiencyCITIC Financial Holdings reported assets under management of RMB 12.9 trillion, revenue of RMB 164 billion, net profit of RMB 65 billion and net profit attributable to listed-company shareholders of RMB 30.9 billion, increasing 8.6%, 18%, 22% and 13%, respectively, on the stated comparison bases. Capital management initiatives saved RMB 3 billion in capital costs in the first half, while ROE increased 0.6 percentage points year-over-year and exceeded 10%.
- Direct Financing and Asset Management ScaleCITIC maintained a market-leading position in direct financing, with direct financing business scale of nearly RMB 2.8 trillion and equity, bond and REIT businesses ranking first. Overall asset management scale was nearly RMB 11.7 trillion, up 8.6% from the beginning of the year, compared with a market average growth rate of 3.89%. Fixed-income products outperformed the benchmark by 10 basis points.
- Technology Finance and New Productive Forces SupportCITIC Equity Alliance established 14 new funds in the first half, with new fund management scale of RMB 12.4 billion; both figures doubled year-over-year, and one-quarter of the funds was invested in hot or core technology. Loans to strategic emerging and future industries exceeded RMB 780 billion, while STAR Market bond underwriting reached RMB 208 billion and ranked first.
- Advanced Intelligent Manufacturing AchievementsAdvanced intelligent manufacturing revenue reached RMB 29.588 billion, up 8.5% year-over-year. CITIC Heavy Industries revenue reached RMB 4.025 billion and profit attributable to shareholders reached RMB 209 million, up 1.1% and 3.0%, respectively. The company supported 23 consecutive successful Shenzhou spacecraft launches and served as lead contractor for China’s first successful offshore rocket net-capture recovery mission.
- Advanced Materials Segment and High-End Steel GrowthAdvanced materials revenue reached RMB 185.116 billion and profit attributable to shareholders reached RMB 6.102 billion, up 13.1% and 7.7% year-over-year, respectively. At CITIC Pacific Special Steel, high-end bearing steel and automotive steel sales increased 16.1% and 14.7%, while key Little Giant project sales rose 23.2%. New products reached 1.4 million tonnes and high-grade products reached 2.75 million tonnes.
- CITIC Metal and Mining PerformanceCITIC Metal revenue reached RMB 86.911 billion and profit attributable to shareholders reached RMB 2.673 billion, up 36.5% and 84.6% year-over-year, respectively. Las Bambas produced approximately 210,000 tonnes of copper content, flat year-over-year, while Ivanhoe Mines’ KK Copper Mine produced 136,000 tonnes of anode copper, blister copper and recovered or saleable products. CBMM production and sales increased, with global niobium market share remaining above 70%.
- Internationalization and Innovation at CITIC Special SteelCITIC Special Steel established a European innovation and R&D center, jointly established a low-carbon new-materials laboratory with Schlumberger, completed the Stemcor share swap on August 24, and laid out a high-end material processing base in Europe. Foreign-trade exports increased 7% year-over-year to approximately 1.2 million tonnes, with foreign-trade operating income of RMB 6.5 billion.
- Market Value Management and Shareholder ReturnsDuring the 14th Five-Year Plan, CITIC Limited’s stock price rose 209% while the Hang Seng Index fell 5.88%, and market capitalization increased by over HKD 190 billion. The share price was reported at a record high for the past decade, up 19.1% from the beginning of the year. The company stated that it maintains a long-term stable and predictable dividend policy and has begun work on a new shareholder return plan for the 15th Five-Year Plan period.
- Strategic Portfolio Reshaping and Technology InvestmentCITIC is implementing its 3-3-5 high-quality development strategy, focusing on financial services, investment, industrial science and technology projects, major projects and five key measures. The company stated that its legal-person company count had been reduced by 13% within its ecosystem since work began in 2024, while it continues to focus on emerging industries including new energy, new materials, robotics and life sciences. CITIC also described technology investment and a 2+4+N technology cluster platform as a long-term strategic choice.
CTPCF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Aug 28, 2026 | 2026 (Q2) | ―0.17 | 0.16 | 8.41% (+0.01) | |
| Mar 27, 2026 | 2025 (Q4) | ―0.14 | 0.15 | -2.36% (-0.00) | |
| Aug 29, 2025 | 2025 (Q2) | ―0.16 | 0.16 | -1.83% (-0.00) | |
| Mar 28, 2025 | 2024 (Q4) | ―0.12 | 0.12 | 2.53% (+0.00) | |
| Aug 30, 2024 | 2024 (Q2) | ―0.16 | 0.16 | -0.91% (-0.00) | |
| Mar 28, 2024 | 2023 (Q4) | 0.170.12 | 0.16 | -25.74% (-0.04) | |
| Aug 31, 2023 | 2023 (Q2) | 0.160.16 | 0.23 | -27.25% (-0.06) | |
| Mar 31, 2023 | 2022 (Q4) | 0.180.19 | 0.13 | 46.73% (+0.06) | |
| Oct 27, 2022 | 2022 (Q3) | ―- | 0.19 | ― | |
| Oct 27, 2022 | 2022 (Q2) | 0.960.23 | 0.19 | 19.53% (+0.04) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
