0267.HK - CITIC Limited

HKSE - HKSE Delayed Price. Currency in HKD
9.660
+0.010 (+0.10%)
At close: 12:08PM HKT
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Previous Close9.650
Open9.660
Bid9.660 x 0
Ask9.670 x 0
Day's Range9.510 - 9.700
52 Week Range8.650 - 12.280
Volume2,552,524
Avg. Volume9,831,151
Market Cap281.012B
Beta (5Y Monthly)0.82
PE Ratio (TTM)5.58
EPS (TTM)1.730
Earnings DateMar 27, 2020 - Mar 31, 2020
Forward Dividend & Yield0.36 (3.73%)
Ex-Dividend DateSep 13, 2019
1y Target Est12.05
  • Would CITIC Limited (HKG:267) Be Valuable To Income Investors?
    Simply Wall St.

    Would CITIC Limited (HKG:267) Be Valuable To Income Investors?

    Today we'll take a closer look at CITIC Limited (HKG:267) from a dividend investor's perspective. Owning a strong...

  • Citic to Sell 22% Stake in McDonald’s China for $300 Million
    Bloomberg

    Citic to Sell 22% Stake in McDonald’s China for $300 Million

    (Bloomberg) -- Chinese state-owned conglomerate Citic Ltd. is planning to significantly reduce its stake in McDonald’s China Co. more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit.McDonald’s China said in a statement Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the chain’s China operations down to 10%. The bottom price for the stake is set at 2.17 billion yuan ($312 million) and the bidding process is ongoing, said a disclosure document filed by Citic to the Beijing Equity Exchange.Separately, Citic Capital Holdings Ltd.-- partly owned by Citic Ltd. -- said it’s interested in buying the stake. It currently owns 20% in McDonald’s China.“Citic Capital is confident with the future growth and prospects of the business and we’re actively participating in the bidding process,” said a Hong Kong-based spokeswoman.McDonald’s Sells Control of China Business to Citic, Carlyle Citic Ltd. said in an emailed statement that the transaction was “purely a business decision.” Citic and its partners have added more than 1,000 new restaurants in mainland China and Hong Kong since they took over and will continue to benefit from the development of McDonald’s China, it said.Citic Ltd. said Chicago-based McDonald’s Corp. holds a 20% stake in the China business.The stake sale comes as the fast-food chain saw revenue and profit growth stall amid fierce competition in China’s dining scene. Food chains have also been hit by rising costs due to the ongoing African Swine Fever epidemic, which has wiped out a quarter of the world’s pigs and caused animal protein prices in China to surge.Citic’s disclosure document showed that revenue for the McDonald’s China master franchiser, called Fast Food Holdings Ltd., was HK$24.8 billion ($3.2 billion) in 2018. For the first 11 months of 2019, it was HK$24.4 billion.Operating profit for the first 11 months of 2019 was HK$16.2 billion and net profit for the same period was HK$856.2 million, according to the statement. This is compared to HK$16.4 billion and HK$1.15 billion, respectively, for all of 2018.McDonald’s China said that same-store sales have risen for three years consecutively since Citic and its partners bought over the franchise in 2017.(Updates with Citic Ltd comment in the fifth paragraph. An earlier version corrected the currency from yuan to Hong Kong dollars for McDonald’s China revenue and profit figures)To contact the reporters on this story: Jinshan Hong in Hong Kong at jhong214@bloomberg.net;Cathy Chan in Hong Kong at kchan14@bloomberg.netTo contact the editors responsible for this story: Rachel Chang at wchang98@bloomberg.net, Jeff SutherlandFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • CITIC to sell 22% stake in McDonald's China business to PE arm: sources
    Reuters

    CITIC to sell 22% stake in McDonald's China business to PE arm: sources

    HONG KONG/BEIJING/SHANGHAI (Reuters) - CITIC Ltd , the main listed arm of Chinese state-owned conglomerate CITIC Group, plans to sell a 22% stake in McDonald's Corp's mainland China and Hong Kong business, which is likely to be bought by the group's private equity arm. The Hong Kong-listed company aims to raise at least 2.17 billion yuan ($312 million) through the sale, according to a company filing to the China Beijing Equity Exchange on Wednesday. CITIC Capital, the group's flagship alternative investment arm which manages over $26 billion in assets, would likely become the buyer, said two people with direct knowledge of the matter.

  • Is CITIC Limited's (HKG:267) P/E Ratio Really That Good?
    Simply Wall St.

    Is CITIC Limited's (HKG:267) P/E Ratio Really That Good?

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. To keep it practical...

  • An Intrinsic Calculation For CITIC Limited (HKG:267) Suggests It's 43% Undervalued
    Simply Wall St.

    An Intrinsic Calculation For CITIC Limited (HKG:267) Suggests It's 43% Undervalued

    Does the December share price for CITIC Limited (HKG:267) reflect what it's really worth? Today, we will estimate the...

  • What Did CITIC Limited's (HKG:267) CEO Take Home Last Year?
    Simply Wall St.

    What Did CITIC Limited's (HKG:267) CEO Take Home Last Year?

    Jiong Wang became the CEO of CITIC Limited (HKG:267) in 2014. First, this article will compare CEO compensation with...

  • Did Changing Sentiment Drive CITIC's (HKG:267) Share Price Down By 25%?
    Simply Wall St.

    Did Changing Sentiment Drive CITIC's (HKG:267) Share Price Down By 25%?

    Ideally, your overall portfolio should beat the market average. But in any portfolio, there will be mixed results...

  • Citic Capital, McDonald's majority owner in China, says online food delivery services is burger chain's biggest revenue driver
    South China Morning Post

    Citic Capital, McDonald's majority owner in China, says online food delivery services is burger chain's biggest revenue driver

    More than one-fifth of McDonald's overall revenue on the mainland now comes from delivery services thanks to the growing popularity of these food apps and the country's well entrenched mobile payment culture.Same store sales alone have grown 4 per cent year to date from the same period last year, according to Yichen Zhang, chairman and chief executive of investment firm Citic Capital, which owns a 52 per cent stake in the burger chain's China and Hong Kong businesses.McDonald's sold an 80 per cent stake in the business to Citic Capital, Citic Ltd and US private equity firm Carlyle for US$2.08 billion in January 2017. Carlyle owns a 28 per cent stake, while the Chicago-headquartered fast-food giant retained a 20 per cent stake. Since then the new investors have increased the number of stores on the mainland to 3,000 from 2,400."The growth we have been generating today compared to two years ago is mostly through technology," said Zhang at the SuperReturn Asia conference in Hong Kong on Tuesday. Red Lobster seafood chain slowly clawing its way into China, but hopes country will one day be its biggest marketIn China, delivery apps operated by Tencent Holdings-backed Meituan Dianping, and Alibaba-owned Ele.me have fanned the popularity of online food delivery services.According to forecasts from Frost and Sullivan, China's food and drinks market is expected to reach US$927 billion a year in 2023 from US$628 billion last year on the back of the popularity of the delivery services and demand from millennials " people born in the 1990s.Zhang Yichen, chairman and chief executive officer of Citic Capital, says it's hard to see China losing the tech war with the US. Photo: Bloomberg alt=Zhang Yichen, chairman and chief executive officer of Citic Capital, says it's hard to see China losing the tech war with the US. Photo: Bloomberg"We have successfully convinced our US headquarters to [approve] our partnership with Tencent ... that makes marketing more low cost and effective, and [that] changes the whole game," said ZhangHe however did not provide details on the latest partnership with Tencent.Currently, McDonald's sends digital coupons to its nearly 100 million registered members in China using its app, allowing them to redeem discounted food items by scanning a QR code on their WeChat app, or view new menu items' launch. Tencent's WeChat is a multipurpose social media and messaging app in China.Zhang also weighed on the ongoing US-China technology rivalry and investment opportunities arising from the feud. Popular Chinese hotpot chain sets its sights on US, to open first outlet in New York early next yearHe said that database software and enterprise services in China will see a wave of investment because of the US government's clamp down on access to US technology by Chinese giants, such as Huawei."If licensing to sell technology to Huawei can be curbed by the US government anytime, do you still want to build your business at the mercy of someone else?" he asked, referring to an emerging trend among Chinese companies who are relying more on locally developed software."With the economies of China and the US decoupling on the tech front, you just see that some Chinese companies would come up [with their own solutions], as they have a market for their [products]. It's hard to see China lose in the long run."Last month, Citic Capital closed a US$2.8 billion China buyout fund, its largest to date. The investment firm currently manages US$7.4 billion worth of committed capital, while its private equity arm focuses on health care, services and industrial sectors.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • CITIC Limited (HKG:267) Will Pay A 1.9% Dividend In 3 Days
    Simply Wall St.

    CITIC Limited (HKG:267) Will Pay A 1.9% Dividend In 3 Days

    Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see CITIC...

  • South China Morning Post

    Citic launches new project in Ma On Shan at 20 per cent below rivals as home sales halve since protests began

    Citic has become the latest Hong Kong developer forced into selling new flats at huge discounts to attract buyers amid a property market battered by months of civil unrest.The latest official figures released on Tuesday show that home sales have halved since the start of protests that have rocked the city.Citic launched its residential project in Ma On Shan at up to 20 per cent below the price of similar properties in the same area. On Tuesday, the builder released the first 50 units at The Entrance at an average price of HK$15,999 per square foot after factoring in a discount of up to 7 per cent.In the same area, flats at St Barths, a project built by Sun Hung Kai Properties, were being offered at around HK$20,000 per square foot, according to Louis Chan, vice-chairman of Asia-Pacific residential division at Centaline Property Agency.The discounted prices were announced as the Land Registry released data showing home sales " for both new and used properties " had dropped to 4,084 in August, the lowest of the year.That is roughly half the 8,208 sales in May, before the start of pro-democracy protests that have gone on to hit retail sales and visitor numbers. The prolonged trade dispute between Washington and Beijing has also dampened appetite."Homes sales plunged significantly in August as buying desire hit by the widespread social movement and escalated US-China trade war dampened buying interest," said Chan.In a bid to woo buyers, other developers have been forced to offer their projects at lower prices.Last Friday, Wheelock Properties managed to shift 88 per cent of units at its Marini development in Lohas Park, Tseung Kwan O, on the first day of sales. The strong performance came after Wheelock priced Marini at 8 per cent below properties sold in the area just two months ago. Protests could be 'catastrophic' for economy as tourists shun Hong KongBillion Development & Project Management sold 570 units at The Aurora in Tsuen Wan over two weekends in late August, after pricing them 10 per cent lower than the nearest project in the neighbourhood.The political tension in the city and the US-China trade war have crimped total sales, although sales of new homes are holding up largely because developers are pricing lower, said Thomas Lam, head of valuation and advisory at consultancy Knight Frank.. "The second-hand market is under pressure, and some owners, especially those with less holding power are willing to reduce their asking price, allowing more room for negotiation," he said.Citic insisted appetite for property remained strong in the face of the increasingly violent street rallies that have shaken the city to its foundations."We have seen quite good sales of new projects in August despite the recent unstable sentiment. It reflects the strong demand for homes and [the fact] our first launch prices are competitive," said Cindy Kwan, a director at Citic Pacific Property Agents, a wholly owned subsidiary of Citic."It will attract potential buyers who plan to upgrade to a bigger flat."The first batch of flats at The Entrance are mostly located on lower floors but most of them command a full sea view, she said.The units on offer, with sizes ranging from 922 square feet to 1,428 square feet, are priced at HK$15.64 million to HK$21.13 million, or HK$14,298 to HK$17,934 per sq ft, after factoring in the 7 per cent discount.In May of 2015, Citic won the site for HK$1.47 billion, or HK$6,502 per square foot through government tender. Surveyors estimated the development cost would be HK$9,911 per square foot, inclusive of construction costs.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • CITIC (HKG:267) Takes On Some Risk With Its Use Of Debt
    Simply Wall St.

    CITIC (HKG:267) Takes On Some Risk With Its Use Of Debt

    David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

  • What Should We Expect From CITIC Limited's (HKG:267) Earnings Over The Next Few Years?
    Simply Wall St.

    What Should We Expect From CITIC Limited's (HKG:267) Earnings Over The Next Few Years?

    CITIC Limited's (HKG:267) most recent earnings update in April 2019 confirmed that the business experienced a robust...

  • Here's What CITIC Limited's (HKG:267) P/E Ratio Is Telling Us
    Simply Wall St.

    Here's What CITIC Limited's (HKG:267) P/E Ratio Is Telling Us

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Should You Like CITIC Limited’s (HKG:267) High Return On Capital Employed?
    Simply Wall St.

    Should You Like CITIC Limited’s (HKG:267) High Return On Capital Employed?

    Today we'll look at CITIC Limited (HKG:267) and reflect on its potential as an investment. Specifically, we'll...

  • Here's How We Evaluate CITIC Limited's (HKG:267) Dividend
    Simply Wall St.

    Here's How We Evaluate CITIC Limited's (HKG:267) Dividend

    Is CITIC Limited (HKG:267) a good dividend stock? How would you know? Dividend paying companies with growing earnings...

  • Is CITIC Limited (HKG:267) Potentially Underrated?
    Simply Wall St.

    Is CITIC Limited (HKG:267) Potentially Underrated?

    Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift...

  • Reuters

    China's CITIC picks up additional stake in Ivanhoe Mines for C$612 mln

    Ivanhoe Mines Ltd said on Thursday a unit of Chinese state-run conglomerate CITIC Ltd has agreed to invest an additional C$612 million ($453.77 million)in the Canadian miner to speed up production at its projects in Southern Africa. With this deal, CITIC Metal Co has brought its total investment in Ivanhoe to about C$1.3 billion, the miner said in a statement. Under the deal terms, Ivanhoe will issue 153.8 million shares to CITIC at C$3.98 per share.

  • Will CITIC Limited's (HKG:267) Earnings Grow In The Next 12 Months?
    Simply Wall St.

    Will CITIC Limited's (HKG:267) Earnings Grow In The Next 12 Months?

    As CITIC Limited (HKG:267) announced its earnings release on 31 December 2018, analysts seem fairly confident, as a 5.2% increase in profits is expected in the upcoming yea...

  • Reuters

    BRIEF-CITIC Says Paul Chow Man Yiu To Retire As Independent Non-Executive Director

    March 29 (Reuters) - CITIC Ltd: * PAUL CHOW MAN YIU WILL RETIRE AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR Source text for Eikon: Further company coverage:

  • Reuters

    BRIEF-CITIC Updates On Proposed Restructuring Of Daye Special Steel

    March 29 (Reuters) - CITIC Ltd: * UPDATES ON PROPOSED RESTRUCTURING OF DAYE SPECIAL STEEL * DAYE SPECIAL STEEL APPROVE AGREEMENT WITH SELL SIDE CO'S, FIXING FINAL VALUE FOR 86.50 PERCENT STAKE IN XINGCHENG ...

  • Reuters

    BRIEF-CITIC Posts FY Profit Attributable Of HK$50,239 Mln

    March 29 (Reuters) - CITIC Ltd: * FY PROFIT ATTRIBUTABLE HK$50,239 MILLION VERSUS HK$43,902 MILLION * FY NET INTEREST INCOME HK$126,253 MILLION VERSUS HK$116,682 MILLION * FY TOTAL REVENUE HK$533,285 MILLION ...

  • Reuters

    BRIEF-Citic Announces Resignation Of Lee Boo Jin As An Independent Non-Executive Director & Member Of Nomination Committee

    March 28 (Reuters) - CITIC Ltd: * ANNOUNCES RESIGNATION OF LEE BOO JIN AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR AND A MEMBER OF NOMINATION COMMITTEE OF CO * APPOINTS GREGORY LYNN CURL AS AN INDEPENDENT ...

  • Metro's $1.5 Billion China Sale Draws Tencent, Citic PE Interest
    Bloomberg

    Metro's $1.5 Billion China Sale Draws Tencent, Citic PE Interest

    The business, which could fetch at least $1.5 billion, has also drawn interest from local supermarket operator Yonghui Superstores Co., the people said. The German retailer is willing to sell as much as 80 percent of the Chinese business while retaining a significant minority if an attractive offer is made, Bloomberg News reported last month. The company picked Citigroup Inc. and JPMorgan Chase & Co. to run a review of its Chinese business, people with knowledge of the matter said last year.