CITIC FAMC (02799) expects a year-on-year net profit growth of 410% to 466% in 2024.

CITIC FAMC (02799) announced that based on preliminary accounting data, the Group's net profit attributable to shareholders of the company for the year 2024 is expected to be between RMB 9 billion to 10 billion, an increase of 410% to 466% compared to last year (RMB 1.766 billion in 2023). In 2024, the company will conscientiously implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, under the strong leadership of CITIC Group, empower with the CITIC brand, following the overall approach of "strengthening the foundation, seeking steady progress, and improving quality and efficiency", focus on core business development, serve the real economy, continuously improve operational performance, further consolidate the profit base, and release development momentum, achieve the second strategic goal of significant improvement in quality and efficiency as scheduled, and steadily embark on the path of healthy and sustainable development. The main reasons for the growth in operational performance are: adapting to industry trends, accelerating transformation and upgrading of core businesses, continuously optimizing asset structure and industry layout, and benefiting from the comprehensive recovery of the capital market, steady growth in asset returns; deepening the construction of a comprehensive risk management system, solidly promoting risk disposal and resolution, significantly improving asset quality, and enhancing risk resistance capabilities. In 2025, the Group will continue to firmly promote the "one three five" strategy, seize development opportunities in the non-performing asset industry, focus on core responsibilities and core businesses, improve core business capabilities, enhance development quality and efficiency, leverage the advantages of CITIC Group in integrating production and finance, actively participate in risk resolution, build CITIC's distinctive collaborative risk resolution brand, better serve national strategies and the real economy.