CITIC Strives for Excellence, Diversified Operations Seizing Opportunities
Effective Two Way Communication Assures Long-Standing Reputation
The Investor Relations Department of CITIC Limited is dedicated to building consistent channels of communication with markets, aiming to provide transparent, accurate and timely disclosure, despite of the fact that the company’s diversified businesses complicate engagement with investors. Internally, the IR team cultivates understanding of the latest developments in each subsidiary. Externally, CITIC Limited maintains close dialogues with investors and analysts through meetings, investment forums, roadshows, and results briefings. In this process, the IR team not only strengthens investors’ insights into CITIC Limited’s businesses and strategies, but also conveys market feedback to the management in a timely manner.
CITIC is one of the very first companies in Hong Kong to produce dedicated websites for its annual reports since 2013. The company has invested in cross-platform interactive investor relations tools and developed a CITIC IR app to provide investors easy access to the company’s updates. These measures have been well received by the investment community and recognised as best in different categories by ARC, Galaxy and other international awards.
Excellent Governance Drives New Business Opportunities
From a modest beginning in 1979, CITIC Limited has grown to a large conglomerate with total assets around US$1 trillion and over 200,000 employees worldwide as innovation and a can-do spirit were part of its DNA. Tracing its roots to the beginning of China’s opening and reform, CITIC Limited is driven today by the same values on which it was founded: a pioneering spirit, a commitment to innovation and a focus on the long term. CITIC Limited embraces world-class technologies and aims for international best practice. It is guided by a strategy that is consumer-centric, commercially-driven, and far-sighted in the allocation of capital and resources.
CITIC’s future will be bigger than any single individual, company or period. Years ahead will test the tenacity and agility of our organisation. It is more important than ever that the company generates value by identifying and making shrewd investments and by bringing in partners to further our existing businesses.
Maximizing Synergies by Utilizing CITIC Ecosystem
A major advantage of our diversified business model is that we have a huge amount of information on customer and economic trends. We formed a task force to find ways to better connect our data points in order to unleash the potential of the CITIC ecosystem.
For example, we teamed up our metal and financial units, including CITIC Bank, CITIC Securities, and Tianjin Precious Metal Exchange, to establish a new credit system. Traditionally, it was difficult for bulk commodity dealers to pledge their inventory to get working capital, because verifying collateral was onerous and expensive. This occasionally led to the insolvency and even carried a certain amount of systemic risk. As such, the volume of warehouse financing in China has remained low, while the demand is huge. At CITIC we offer intelligent warehousing for commodity dealers and risk managers to easily trace the stock in real time. Each and every transaction is stored on distributed ledger, in which the crypto-receipt cannot be altered or duplicated and enables transparency and trust between commodity dealers and lenders.
We drafted a blueprint for achieving synergies within the CITIC family and invited business partners for deeper collaboration. This is ultimately driving cost efficiencies, profitability, new projects and business growth. In the past two years, CITIC Bank has continuously enriched the trade finance blockchain system, which has attracted over 20 banks and accumulated more than RMB100 billion of turnover as at the end of 2019.
Shouldering Corporate Social Responsibility to Achieve Mutual Benefits
We strictly comply with all environmental laws and regulations in the countries and regions where we operate. We have also improved our environmental management system and established a green development plan as a solid foundation for the continuous improvement of our environmental performance. Additionally, we actively support green finance and provide financial protection for the development of low-carbon industries. We are committed to optimising the ecological environment and carried our various publicity campaigns to increase environmental protection awareness. CITIC will continue to improve our employee, environmental, brand, and community welfare management, while exploring new ways to build a better future for humanity and the natural environment.
We believe working with our business partners should be mutual beneficial and will bring the greatest results. While enjoying the support and help of our partners, we do our best to fulfil industrial responsibilities by building cooperative platforms and promoting close cooperation between the government and enterprises to create mutually rewarding partnerships. We support fair competition, contribute to advanced technology and promote healthy industrial development. At the same time, we take a multi-pronged approach to prevent corruption and create a positive industrial environment.
Building Staff Development Platform in Supporting Employee Growth
“Providing a platform for employees to excel their talents” has always been one of the corporate missions at CITIC. We not only care about “what our employees should do”, but also “what we can do for them”. Our diversified approach allows us to grow together with our employees.
We are committed to building and retaining a talented workforce. To achieve it, we focused on building talents of the five major teams, including senior management, industry leaders, advanced technology specialists and skilled professionals, international staff and outstanding young executives. We aim to build the five major teams through “four major tasks”, including recruitment, internal deployment, training and development, as well as staff incentives, to secure a stable workforce for the company’s development.
