HK$ 380,822 MILLION
HK$ 43,119 MILLION
HK$ 7,237,995 MILLION
HK$ 482,760 MILLION
Profit attributable to ordinary shareholders for 2016 was HK$43.1 billion. Although this was a modest 3% increase from last year, there is no doubt that the challenging operating environment continued to affect our businesses. Other factors affecting the result included our reduced interest in CITIC Bank and the depreciation of the Renminbi given that our reporting currency is the Hong Kong dollar. Breaking down the result further, a non- cash impairment charge of HK$7.2 billion (after tax) was made on our Sino Iron mine, mainly due to lower forecasts for the long-term price of iron ore. On the other hand, a gain of HK$10.3 billion was recorded when the sale of residential property assets in mainland China to China Overseas Land and Investment was completed.
CITIC Limited (SEHK: 00267) is China’s largest conglomerate and a constituent of the Hang Seng Index. Among our diverse global businesses, we focus primarily on financial services, resources and energy, manufacturing, engineering contracting and real estate. As China’s economy matures and is increasingly weighted toward consumption and services, CITIC is building upon its existing consumer platform, expanding into complementary businesses that reflect these trends and opportunities.
Tracing our roots to the beginning of China’s opening and reform, we are driven today by the same values upon which we were founded: a pioneering spirit, a commitment to innovation and a focus on the long term. We embrace world-class technologies and aim for international best practice. We are guided by a strategy that is customer-centric, commercially-driven, and far-sighted in the allocation of capital and resources.