Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ANNOUNCEMENT UNAUDITED FINANCIAL STATEMENTS OF CITIC CORPORATION LIMITED FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025 This announcement is made by CITIC Limited (the “Company”, together with its subsidiaries, the “Group”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIV A of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). To provide the shareholders and potential investors of the Company with updated information of the Group , the Company hereby announces the quarterly financial results of CITIC Corporation Limited (“CITIC Corporation”), a wholly-owned subsidiary of the Company. The unaudited financial statements of CITIC Corporation for the nine months ended 30 September 2025 are set out at the end of this announcement , which are prepared in accordance with the PRC Generally Accepted Accounting Principles. The Company wishes to remind shareholders and potential investors that the financial statements of CITIC Corporation attached to this announcement have not been audited or reviewed by the Company's auditors or the Audit and Risk Management Committee of the Board of Directors . Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company. By Order of the Board CITIC Limited Xi Guohua Chairman Hong Kong, 31 October 2025 As at the date of this announcement, the executive directors of the Company are Mr. Xi Guohua (Chairman), Mr. Zhang Wenwu, Mr. Liu Zhengjun and Mr. Wang Guoquan; the non -executive directors of the Company are Ms. Yu Yang, Mr. Zhang Lin, Ms. Li Yi, Mr. Yue Xuekun, Mr. Yang Xiaoping and Mr. Li Zimin; and the independent non-executive directors of the Company are Mr. Anthony Francis Neoh, Mr. Francis Siu Wai Keung, Dr. Xu Jinwu, Mr. Gregory Lynn Curl, Mr. Toshikazu Tagawa and Mr. Chen Yuyu. (Incorporated in Hong Kong with limited liability) (Stock Code: 00267)
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CITIC CORPORATION LIMITED 30 September 2025 31 December 2024 (Restated) Cash and deposits 843,254,407 834,276,206 Settlement reserve 86,920,124 61,608,888 Placements with banks and non-bank financial institutions 515,934,147 404,801,274 Margin accounts 191,709,012 138,331,662 Derivative financial instruments 76,789,885 134,171,231 Trade and other receivables 328,669,882 220,733,767 Contract assets 20,593,151 22,084,101 Inventories 45,296,720 43,861,768 Financial assets held under resale agreements 121,179,669 179,828,728 Loans and advances to customers and other parties 5,688,160,474 5,619,427,604 Investments in financial assets - Financial assets held for trading 1,567,485,149 1,391,378,278 - Bond investments 1,174,480,525 1,104,525,035 - Other bond investments 1,025,688,515 927,302,851 - Other equity instruments investments 110,468,151 101,207,180 Long-term equity investments 70,215,806 59,926,521 Refundable deposits 100,554,145 68,215,035 Investment properties 18,516,044 17,102,561 Fixed assets 96,696,490 73,228,263 Construction in progress 5,697,387 5,894,703 Right-of-use assets 14,867,797 14,415,960 Intangible assets 25,735,917 27,585,511 Goodwill 14,360,336 14,381,994 Deferred tax assets 70,063,264 67,911,712 Other assets 50,474,551 53,854,830 Total assets 12,263,811,548 11,586,055,663 CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2025 (UNAUDITED) RMB'000
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CITIC CORPORATION LIMITED 30 September 2025 31 December 2024 (Restated) Borrowing from central banks 177,468,762 124,151,376 Customer brokerage deposits 505,779,354 362,139,249 Funds payable to securities issuers 400,000 1,063,310 Placements from banks and non-bank financial institutions 142,739,282 143,848,151 Financial liabilities held for trading 160,999,913 127,140,004 Derivative financial instruments 109,063,967 134,296,983 Trade and other payables 387,134,585 338,052,246 Contract liabilities 8,329,394 7,842,573 Financial assets sold under repurchase agreements 864,110,709 672,087,465 Deposits from banks and non-bank financial institutions and customers 6,883,924,878 6,800,780,351 Employee benefits payables 52,978,973 51,535,279 Taxes payable 14,253,983 16,151,555 Bank and other loans 72,961,551 60,479,053 Debt instruments issued 1,529,183,867 1,447,107,530 Lease liabilities 15,661,330 15,170,798 Provisions 15,528,316 12,818,160 Deferred tax liabilities 7,842,585 7,655,320 Other liabilities 27,290,248 27,818,957 Total liabilities 10,975,651,697 10,350,138,360 Paid-in capital 139,000,000 139,000,000 Capital reserve 47,177,472 50,684,178 Other comprehensive income (1,523,901) 6,475,609 Surplus reserve 16,704,013 16,704,013 General reserve 64,752,452 64,500,534 Retained earnings 360,097,343 334,809,249 Total equity attributable to owners of the Company 626,207,379 612,173,583 Non-controlling interests 661,952,472 623,743,720 Total owners' equity 1,288,159,851 1,235,917,303 Total liabilities and owners' equity 12,263,811,548 11,586,055,663 RMB'000 CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2025 (UNAUDITED)
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CITIC CORPORATION LIMITED 2025 2024 (Restated) Operating income 292,363,176 278,036,929 Less: Total operating costs 192,065,692 188,709,152 Including: Operating costs 65,637,826 60,577,374 Taxes and surcharges 2,411,565 2,562,986 Selling and distribution expenses 1,073,057 1,037,367 General and administrative expenses 73,635,806 71,569,726 Research and development expenses 981,800 1,193,162 Financial expenses 1,642,439 2,248,122 Expected credit losses 46,326,360 49,476,822 Impairment losses 356,839 43,593 Add: Gains from changes in fair value 347,635 417,833 Investment income 1,046,256 832,176 (Losses)/Gains from asset disposal (1,766) 59,619 Other gain 397,766 508,493 Operating profit 102,087,375 91,145,898 Add: Non-operating income 660,403 1,352,745 Less: Non-operating expenses 908,102 320,008 Profit before income tax 101,839,676 92,178,635 Less: Income tax expense 18,671,299 16,508,921 Net profit for the period 83,168,377 75,669,714 Owners of the Company 40,991,471 40,184,341 Non-controlling interests 42,176,906 35,485,373 CONSOLIDATED INCOME STATEMENT FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025 (UNAUDITED) RMB'000 Nine months ended 30 September
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CITIC CORPORATION LIMITED RMB'000 2025 2024 (Restated) Cash flows from operating activities: Cash received from sale of goods and rendering of services 85,493,458 77,162,336 Net decrease in deposits with central banks 24,785,148 45,250,084 Net decrease in deposits with banks and non-bank financial institutions 15,114,989 8,033,916 Net increase in deposits from customers 307,113,333 215,958,398 Net decrease in margin accounts - 4,318,387 Net increase in borrowings from central banks 53,096,911 - Net increase in customer brokerage deposits 145,979,340 94,331,751 Interests, fee and commission received 303,907,362 308,784,804 Net increase in financial assets sold under repurchase agreements 200,860,237 - Net decrease in financial assets held under resale agreements 71,846,587 25,615,660 Net increase in financial liabilities held for trading 3,286,618 300,474 Refund of taxes 1,341,593 1,070,002 Cash received from other operating activities 149,618,158 76,462,700 Sub-total of cash inflows from operating activities 1,362,443,734 857,288,512 Cash paid for goods and services 67,981,502 60,551,136 Net increase in loans and advance to customers and other parties 111,316,815 175,628,666 Net decrease in borrowings from central banks - 12,062,000 Net decrease in deposits from banks and non-bank financial institutions 204,820,207 49,207,036 Net increase in placements with banks and other financial institutions 127,445,721 87,657,509 Net decrease in placements from banks and non-bank financial institutions 7,425,677 31,600,952 Net increase in margin accounts 54,287,786 - Net decrease in financial assets sold under repurchase agreements - 73,518,360 Net increase in financial investments 66,283,298 104,528,943 Interests, fee and commission paid 121,141,263 105,230,087 Cash paid to and on behalf of employees 50,977,541 51,599,572 Cash paid for various taxes 36,442,061 30,043,295 Cash paid for other operating activities 245,870,618 182,909,581 Sub-total of cash outflows from operating activities 1,093,992,489 964,537,137 Net cash flows generated from/ (used in) operating activities 268,451,245 (107,248,625) CONSOLIDATED CASH FLOW STATEMENT FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025 (UNAUDITED) Nine months ended 30 September
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CITIC CORPORATION LIMITED RMB'000 2025 2024 (Restated) Cash flows from investing activities: Cash received from disposal of financial investments 4,721,515,704 2,793,453,844 Cash received from returns on investments 2,846,444 2,267,513 Net proceeds from disposal of fixed assets, intangible assets and other long-term assets 1,082,184 364,919 Net cash received from disposal of associates and joint ventures 181,357 2,644,539 Net cash received from disposal of subsidiaries 8,542 - Cash received from other investing activities 1,734,730 864,767 Sub-total of cash inflows from investing activities 4,727,368,961 2,799,595,582 Cash paid for acquisition of fixed assets, intangible assets and other long-term assets 34,556,047 12,795,157 Cash paid for acquisition of financial investments 4,917,849,071 2,793,015,540 Net cash payment for acquisition of subsidiaries 10,040,924 4,775 Net cash payment for acquisition of associates and joint ventures 3,383,673 196,000 Cash paid for other investing activities 2,769,222 2,073,900 Sub-total of cash outflows from investing activities 4,968,598,937 2,808,085,372 Net cash flows used in investing activities (241,229,976) (8,489,790) Cash flows from financing activities: Cash received from capital contributions 132,282 744,304 Including: Cash received by subsidiaries from non-controlling interests 132,282 744,304 Cash received from bank and other loans 221,379,220 106,181,472 Cash received from issuance of debt instruments 1,501,173,427 1,363,247,074 Cash received from issuance of other equity instruments by subsidiaries 4,000,000 38,996,047 Cash received from other financing activities 201,000 463,947 Sub-total of cash inflows from financing activities 1,726,885,929 1,509,632,844 Transactions with non-controlling interests 1,357,822 1,292,646 Cash paid for repayment of bank and other loans and debt instruments issued 1,620,243,767 1,286,512,050 Principal and interest elements of lease payment 3,281,022 3,342,190 Cash paid for dividends, profit distributions or interest 56,070,526 58,252,779 Including: Dividends and profits paid by subsidiaries to non-controlling interests 12,740,615 13,060,126 Cash paid for other financing activities 420,755 769,360 Sub-total of cash outflows from financing activities 1,681,373,892 1,350,169,025 Net cash flows generated from financing activities 45,512,037 159,463,819 Effect of foreign exchange rate changes on cash and cash equivalents (3,487,731) (1,135,113) Net increase in cash and cash equivalents 69,245,575 42,590,291 Add: Cash and cash equivalents at the beginning of the period 675,980,353 574,735,312 Cash and cash equivalents at the end of the period 745,225,928 617,325,603 Nine months ended 30 September CONSOLIDATED CASH FLOW STATEMENT (CONTINUED) FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025 (UNAUDITED)
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CITIC CORPORATION LIMITED 30 September 2025 31 December 2024 Cash and deposits 981,182 2,194,460 Trade and other receivables 26,867,493 33,329,031 Loans and advances to customers and other parties 3,086,394 353,476 Investments in financial assets - Financial assets held for trading 6,075,163 3,525,459 Long-term equity investments 284,027,179 282,827,179 Fixed assets 341,664 366,363 Right-of-use assets 44,325 177,299 Intangible assets 14,429 15,874 Other assets 27,436 22,300 Total assets 321,465,265 322,811,441 Trade and other payables 33,443,216 33,077,221 Bank and other loans 2,998,830 3,000,324 Debt instruments issued 45,842,818 40,562,627 Lease liabilities 46,707 182,801 Deferred tax liabilities 138,783 43,352 Other liabilities 922,723 829,344 Total liabilities 83,393,077 77,695,669 Paid-in capital 139,000,000 139,000,000 Capital reserve 56,903,307 56,903,307 Other comprehensive income 468,947 468,947 Surplus reserve 16,757,938 16,757,938 Retained earnings 24,941,996 31,985,580 Total owners' equity 238,072,188 245,115,772 Total liabilities and owners' equity 321,465,265 322,811,441 COMPANY BALANCE SHEET AS AT 30 SEPTEMBER 2025 (UNAUDITED) RMB'000
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CITIC CORPORATION LIMITED 2025 2024 Operating income 10,281,647 12,594,430 Less: Total operating costs 1,977,225 1,839,653 Including: Taxes and surcharges 1,854 1,776 General and administrative expenses 697,223 745,184 Research and development expenses 88,759 - Financial expenses 1,189,389 1,092,693 Add: Gains from asset disposal - 1 Operating profit 8,304,422 10,754,778 Add: Non-operating income - 5 Less: Non-operating expenses 120 60 Profit before income tax 8,304,302 10,754,723 Less: Income tax expense 95,432 167 Net profit for the period 8,208,870 10,754,556 COMPANY INCOME STATEMENT FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025 (UNAUDITED) RMB'000 Nine months ended 30 September
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CITIC CORPORATION LIMITED 2025 2024 Cash flows from operating activities: Interests, fee and commission received 33,000 - Refund of taxes 19,622 1,942 Cash received from other operating activities 16,227,230 12,704,362 Sub-total of cash inflows from operating activities 16,279,852 12,706,304 Interests, fee and commission paid 375 254 Cash paid for various taxes 1,934 1,439 Cash paid for other operating activities 494,941 613,327 Sub-total of cash outflows from operating activities 497,250 615,020 Net cash flows generated from operating activities 15,782,602 12,091,284 Cash flows from investing activities: Cash received from disposal of investments 5,916,027 702,184 Sub-total of cash inflows from investing activities 5,916,027 702,184 Cash paid for acquisition of fixed assets, intangible assets and other long-term assets 6,875 5,297 Cash paid for acquisition of investments 9,190,000 6,946,937 Entrusted loans granted to subsidiaries 2,730,000 - Sub-total of cash outflows from investing activities 11,926,875 6,952,234 Net cash flows used in investing activities (6,010,848) (6,250,050) Cash flows from financing activities: Cash received from new banks and other loans 6,000,000 5,600,000 Cash received from issuance of new debt instruments 4,996,500 6,000,000 Sub-total of cash inflows from financing activities 10,996,500 11,600,000 Cash paid for repayment of bank and other loans and debt instruments issued 6,000,000 4,103,000 Cash paid for dividends, profit distributions or interest 15,824,110 15,998,824 Cash paid for other financing activities 151,815 92,853 Sub-total of cash outflows from financing activities 21,975,925 20,194,677 Net cash flows used in financing activities (10,979,425) (8,594,677) Effect of foreign exchange rate changes on cash and cash equivalents (5,312) (5,805) Net decrease in cash and cash equivalents (1,212,983) (2,759,248) Add: Cash and cash equivalents at the beginning of the year 2,192,013 3,601,433 Cash and cash equivalents at the end of the period 979,030 842,185 COMPANY CASH FLOW STATEMENT FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025 (UNAUDITED) RMB'000 Nine months ended 30 September