CITIC Financial AMC reported a 18.6% year-on-year increase in net profit to RMB 6.53 billion for the six months ended 30 June 2026. Profit attributable to equity holders reached RMB 6.86 billion, up 11.3%. Annualised ROAE improved to 21.4% from 21.1%, while annualised ROAA edged up to 1.2% from 1.1%. Basic earnings per share rose to RMB 0.075.

Total income declined 52.2% to RMB 14.89 billion after the removal of prior-year one-offs, yet core operating momentum remained intact. Interest income grew 29.8% to RMB 5.77 billion, reflecting a larger interest-bearing asset base driven by the bailout and revitalisation portfolio. Fair-value gains on distressed debt assets surged to RMB 3.23 billion, versus RMB 0.31 billion a year earlier, supported by improved asset quality and higher disposal proceeds.

The distressed asset management segment contributed RMB 26.74 billion in total income and RMB 10.54 billion in pre-tax profit, maintaining its position as the group’s primary earnings engine. Within this segment, new bailout and revitalisation investments totalled RMB 40.24 billion, lifting the asset balance to RMB 202.09 billion, up 13.0% since year-end. Acquisition-and-disposal assets expanded to RMB 198.35 billion, while income from equity swaps and special-situations equity reached RMB 9.65 billion.

Costs and risks trended lower. Interest expense fell 9.6% to RMB 13.01 billion as funding costs eased, and impairment losses under the expected credit loss model dropped 67.1% to RMB 5.54 billion. Operating expenses decreased 9.7% to RMB 1.75 billion. The group’s capital adequacy ratio stood at 15.71%, and the leverage ratio was 7.7:1.

Total assets grew 6.2% from end-2025 to RMB 1.12 trillion, driven by higher deposits with financial institutions and an expanded portfolio of financial assets at fair value. Liabilities rose at the same pace to RMB 1.07 trillion, with borrowings increasing 8.0% to RMB 849.38 billion; long-term borrowings now account for 66.1% of the total. Bonds and notes outstanding climbed to RMB 171.90 billion following the issuance of RMB 25.00 billion in new asset-backed securities at an industry-low coupon of 1.80%.

Management highlighted continued focus on core distressed-asset businesses, cost discipline, and risk control. No interim dividend was declared for the period.