Citi has released a research report stating that CITIC benefited from robust performance in its financial subsidiaries, with first-half net profit rising 8% year-on-year. The interim dividend also grew 5% to RMB 0.21 per share, reflecting management's commitment to enhancing shareholder returns.

The bank expects CITIC to fulfill its pledge of a payout ratio of at least 30% for the fiscal year 2026. Citi has maintained its "Buy" rating and raised the target price from HK$13.40 to HK$15.85.

According to Citi, CITIC's current valuation is not expensive, trading at a discount of approximately 51% to its net asset value, slightly below the historical average by about 0.5 standard deviations. With a forecast dividend yield of roughly 5.6% for fiscal 2026, the stock offers investors significant downside protection.