The Zhitong Finance App learned that Citibank released a research report saying that CITIC shares (00267) benefited from strong financial subsidiary business performance. Net profit increased 8% year on year in the first half of the year, and the interim dividend rose 5% year on year to 0.21 yuan per share, reflecting management's efforts to improve shareholder returns. The bank expects CITIC to meet its promise of a dividend payout ratio of at least 30% for the 2026 fiscal year. The bank maintained a “buy” rating, and the target price was raised from HK$13.40 to HK$15.85. The bank believes that the current price valuation of CITIC shares is not expensive. The discount is about 51% compared to NAV, which is slightly below the historical average by about 0.5 standard deviations. The predicted dividend rate for the 2026 fiscal year is about 5.6%, providing investors with significant downside protection.

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