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China CITIC Financial AMC posts strong 2024 results

March 28, 2025 at 05:16 PM UTCBy FilingReader AI

** China CITIC Financial Asset Management Co., Ltd. (HKEX: 2799) announced its 2024 annual results, showcasing significant improvements in profitability and asset quality. Revenue reached RMB112.766 billion, a 60% increase compared to 2023, while net profit attributable to equity holders surged to RMB9.618 billion. The company's return on average equity (ROAE) stood at 18.4%. The company's asset structure also shifted, with distressed asset management accounting for 86.7% of total assets. While the company did not declare a cash dividend, it noted a doubling of its provision coverage ratio, increased market capitalization, and the successful completion of the “two-year, three-step strategy.” Looking ahead, the company aims to pursue high-quality development and strengthen its core competencies in the distressed asset management sector. The board has approved of these results. The company’s name was officially changed from China Huarong in January 2024, to China CITIC Financial Asset Management Co., Ltd.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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