CITIC Pacific (CPF0) Q2 2026 Earnings Report
DE:CPF0 Q2 2026 EPS Results
- Actual EPS
- EUR 0.78
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- EUR 0.67
DE:CPF0 Q2 2026 Revenue Results
- Actual Revenue
- EUR 53.54B
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +17.17%
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
Earnings Call Sentiment|Positive
The call was strongly positive overall. CITIC reported double-digit growth in revenue, net profit, overseas revenue, fee income and several major subsidiaries, alongside improved operating efficiency, debt reduction, strong performance from CITIC Securities and CITIC Metal, stable bank asset quality, higher ratings and continued strategic investment in technology and international expansion. The main negative factors were declines in NIM, advanced manufacturing profit, Nanjing Steel profit, New Consumption revenue, CITIC Agriculture losses, construction revenue and continued pressure in property development, but these lowlights were fewer and less broad than the reported achievements.
Company Guidance
During the 15th Five-Year Plan, CITIC will implement the 3-3-5 high-quality development strategy, comprising 3 main businesses, 3 major projects and 5 key measures, continue to strengthen core financial business, accelerate emerging and future industry focus, and make strategic overall arrangement while retreating in sectors when necessary; since 2024, the legal person company number has been reduced by 13% within our ecosystem. CITIC Securities will pursue 3 core measures of improving quality and efficiency, strengthening competition and expanding internationally, with a 3-step strategy to deploy the Asia Pacific hub, expand the global network and enrich business forms in overseas markets; CITIC Holding fully or limited fully subscribed its H shares fixed increase and CITIC Securities promised that within 48 months, it will not transfer. CITIC Bank will execute its 3-3 strategy over the following 5 years through customer management, structural optimization and system and capabilities enhancement, while CITIC Metal will deepen global resources in Africa, South America, Southeast Asia, Central Asia and other key regions and use the trade plus model.
- Strong Interim Revenue and Profit GrowthHalf 1 2026 revenue reached RMB 408 billion, up 10.7% Y-o-Y, mainly because CITIC Metal and CITIC Securities captured opportunities from rising commodity prices and capital markets. Net profit reached RMB 70.8 billion, up 18.3%, while profit attributable to shareholders reached RMB 33.8 billion, up 8.1% Y-o-Y.
- Improved Revenue Mix and Fee IncomeNet fee and commission income reached RMB 39.7 billion, an increase of 22% Y-o-Y. Financial business income represented 24.7% of total income, up 1.6% Y-o-Y, with growth in CITIC Securities' brokerage, investment banking and asset management businesses, CITIC Bank's agency business and trust assets under management.
- Rapid International Business ExpansionOverseas revenue reached RMB 84.7 billion, up 29% Y-o-Y, and represented 20.7% of total revenue, up 2.9% Y-o-Y. Overseas total assets reached RMB 1.48 trillion, up 11% from the beginning of the year. CITIC Securities' overseas revenue rose 71% Y-o-Y to RMB 11.8 billion.
- Operating Efficiency and Financing Cost ImprovementsThe company-wide cost-to-income ratio was 31.6%, down 2.6% Y-o-Y. Nonfinancial business interest expenses totaled RMB 4.76 billion, down RMB 900 million Y-o-Y, or 3%. The profit-to-labor-cost ratio reached 197%, an increase of 19 percentage points Y-o-Y.
- Asset Growth and Debt ReductionTotal assets reached RMB 13.65 trillion, up 4.9% from the beginning of the year, including financial-sector assets of RMB 12.96 trillion, up 5.2%. CITIC Bank assets increased 2.5% to RMB 10.39 trillion, while CITIC Securities assets increased 19% to RMB 2.47 trillion. Nonfinancial business interest-bearing liabilities decreased 3.9% from the beginning of the year.
- Higher Earnings Per Share and Interim DividendEarnings per share increased 8.1% Y-o-Y to RMB 1.16 per share. CITIC planned an interim dividend of RMB 0.21 per share, an increase of 5% Y-o-Y.
- Improved Credit and ESG RatingsThe company maintained its Moody's A3 rating, with the outlook revised from stable to positive, described as the best level in its history. CITIC Bank maintained a Ba2 rating with its outlook revised from stable to positive, and the MSCI ESG rating improved from A to A+.
- Financial Services Segment GrowthThe Financial Services segment generated revenue of RMB 160.6 billion, up 14.5% Y-o-Y, and profit attributable to shareholders of RMB 31.7 billion, up 11.8% Y-o-Y. Total segment assets reached RMB 11.69 trillion.
- CITIC Bank Profit and Cost PerformanceCITIC Bank net profit attributable to shareholders reached RMB 37.6 billion, up 3.1% Y-o-Y. Operating expenses decreased RMB 600 million, or 2.1% Y-o-Y, and the cost-to-income ratio declined 1.35 percentage points to 25.46%. Deposits and loans rose 3.8% and 2.5%, respectively, from the beginning of the year.
- CITIC Bank Stable Asset Quality and Market PerformanceCITIC Bank's NPL ratio was 1.15%, unchanged from the end of the previous year, while its provision coverage ratio was 203.12%. The bank stated that its stock price had outperformed the market for four consecutive years; from January to August, A shares and H shares rose 17.9% and 23.9%, respectively.
- CITIC Securities Record Performance and Market LeadershipCITIC Securities revenue reached RMB 49.7 billion and net profit attributable to shareholders of the listed company reached RMB 23.3 billion, increasing 50% and 69.6% Y-o-Y, respectively. Revenue from all major business lines achieved double-digit growth. The company ranked third in the domestic market and first in equity underwriting and bond underwriting scale, while its Chinese-market M&A deal size ranked first in the industry.
- CITIC Securities International Expansion and Capital IncreaseCITIC Securities' Hong Kong IPO sponsorship by project count ranked second, while Chinese offshore bond Hong Kong refinancing underwriting ranked first among Chinese securities companies. CITIC Limited completed a RMB 16 billion private placement investment in CITIC Securities; the international business contributed 23.7% of CITIC Securities revenue in half 1. The funds will be used for international business development.
- Trust and Insurance GrowthCITIC Trust revenue reached RMB 2.937 billion and profit RMB 1.722 billion, up 0.7% and 9.8% Y-o-Y, respectively, while trust assets under management rose to RMB 4.15 trillion. CITIC Prudential Life income reached RMB 24.431 billion, up 29.6% Y-o-Y; annualized new premiums increased 21% and new business value increased 13% Y-o-Y.
- Financial Holding Company Scale and Capital EfficiencyCITIC Financial Holdings reported AUM 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, representing Y-o-Y increases of 18%, 22% and 13%, respectively. The company stated that it saved RMB 3 billion of capital costs in half 1, while ROE increased 0.6 percentage points Y-o-Y and exceeded 10%.
- Direct Financing and Asset Management LeadershipCITIC stated that its direct financing business scale reached almost RMB 2.8 trillion, with 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 Productivity SupportCITIC Equity Alliance established 14 new funds in half 1, with new fund management scale of RMB 12.4 billion; both figures doubled year-on-year, and one-fourth 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 and Aerospace AchievementsAdvanced intelligent manufacturing revenue reached RMB 29.588 billion, up 8.5% Y-o-Y. CITIC Heavy Industries revenue reached RMB 4.025 billion and profit attributable to shareholders RMB 209 million, up 1.1% and 3.0%, respectively. The company supported 23 consecutive successful Shenzhou spacecraft launches and acted as lead contractor for China's first successful offshore rocket net-capture recovery mission.
- Advanced Materials and Special Steel Product GrowthAdvanced materials revenue reached RMB 185.116 billion and profit attributable to shareholders RMB 6.102 billion, up 13.1% and 7.7% Y-o-Y, 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 increased 23.2% Y-o-Y. New products reached 1.4 million tonnes and high-grade products reached 2.75 million tonnes.
- CITIC Metal Strong Growth and Mining OutputCITIC Metal revenue reached RMB 86.911 billion and profit attributable to shareholders RMB 2.673 billion, up 36.5% and 84.6% Y-o-Y, respectively. Las Bambas produced about 210,000 tonnes of copper content in copper concentrates, flat Y-o-Y. CBMM production and sales increased, with global niobium market share remaining above 70%, while Ivanhoe Mines' KK Copper Mine produced 136,000 tonnes of anode copper, blister copper or concentrate recovered from slag.
- Long-Term Strategy, Innovation and International InfrastructureCITIC described its 3-3-5 high-quality development strategy, covering three main businesses, three major projects and five key measures. The company stated that it had co-incubated more than 1,300 technology enterprises, added 60-plus projects in the first half, and planned continued investment in technology, new energy, new materials, robotics and life sciences. CITIC Special Steel established a European innovation and R&D center, a joint low-carbon new-materials laboratory with Schlumberger, and completed the Stemcor equity closing.
- Market Value Management and Shareholder ReturnsCITIC stated that during the 14th Five-Year Plan, its 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 stated to be up 19.1% from the beginning of the year and at a record high in the past decade. The company said it had begun work on a new shareholder return plan covering the 15th Five-Year Plan period.
DE:CPF0 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Aug 28, 2026 | 2026 (Q2) | ―0.78 | 0.67 | 15.07% (+0.10) | |
| Mar 27, 2026 | 2025 (Q4) | ―0.62 | 0.56 | 9.92% (+0.06) | |
| Aug 29, 2025 | 2025 (Q2) | ―0.67 | 0.69 | -2.47% (-0.02) | |
| Mar 28, 2025 | 2024 (Q4) | ―0.56 | 0.55 | 2.97% (+0.02) | |
| Aug 30, 2024 | 2024 (Q2) | ―0.69 | 0.68 | 1.99% (+0.01) | |
| Mar 28, 2024 | 2023 (Q4) | 0.680.55 | 0.84 | -34.73% (-0.29) | |
| Aug 31, 2023 | 2023 (Q2) | 0.670.68 | 0.99 | -31.20% (-0.31) | |
| Mar 31, 2023 | 2022 (Q4) | 0.820.84 | 0.62 | 35.57% (+0.22) | |
| Oct 27, 2022 | 2022 (Q2) | 0.640.99 | 0.88 | 12.30% (+0.11) | |
| Oct 27, 2022 | 2022 (Q3) | ―- | 0.88 | ― |
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.
Beat Missed
