Since the beginning of this year, the performance of the Hang Seng Index has been poor. So far, it has fallen by about 5%, which is mainly dragged down by Haidilao International Holding, Alibaba Health Information Technology, Ping An Insurance and other constituent stocks, but there are also some companies that have performed well, such as Techtronic Industries up nearly 60%, Sunny Optical Technology up more than 40%, andLed by CITIC Limited, the stock continued to rise today, hitting an intraday high of more than two years, and has risen 96.79 per cent since the start of the year.

CITIC Limited is a comprehensive group of "Finance + Industry", whose business is mainly divided intoFive sectors: comprehensive financial services, advanced intelligent manufacturing, advanced materials, new consumption and new urbanizationRelated to banking, securities, trust, insurance, copper, special steel, mining robots, publishing, telecommunications, real estate and other fields.

The company's revenue rose 38 per cent year-on-year to HK $352.9 billion in the first half of this year, while net profit belonging to ordinary shareholders rose 64 per cent to 44.2 billion yuan, according to the financial report.

Advanced materialsRevenue increased 66% year-on-year to 142.8 billion yuanSurpassing the comprehensive financial sector to become the company's largest source of revenue.Accounting for 41% of the total income during the period. Profits in the sector jumped 280 per cent, benefiting from higher global commodity prices in the first half of the year.

Among them, Citic Pacific special steel profits increased by 52%, Citic metal trading and investment business profits increased by 153%. Citic Resources promoted the fine management of crude oil production and the optimization of debt structure, and turned losses into profits during the period.

ButThe financial sector still contributes the most to net profit.The first-half net profit of the financial services sector was 29.1 billion yuan, accounting for 66%. Profits of China CITIC Bank Corporation, CITIC, Citic Trust and CITIC Prudential plc rose 14 per cent, 37 per cent, 88 per cent and 57 per cent respectively.

Advanced intelligent building plateOn the other hand, Citic Daika, its aluminum wheel manufacturing company, benefited from a pick-up in the automobile market and increased demand for lightweight, with profits up 81%, and offshore wind power and mining robot business achieved rapid growth.

In the new consumer sector, Dachang, the main auto agency business, turned from deficit to profit, Citic publishing profit increased by 52%, and Citic Telecom International made a steady profit.

As for the new urbanization sector, the mainland and Hong Kong real estate businesses have achieved ideal sales and stable rental property revenue. There has been a steady increase in the number of newly signed project contracts, and every effort has been made to promote the construction of key projects such as Chongli Ice and Snow Town, and the operating profit of the plate has increased by 24% compared with the same period last year.

Citigroup recently published a research report saying that CITIC Limited management launched a new development strategy earlier this year to promote profit growth through the integration and cooperation of its business, and the interim report has shown initial signs of success. the bank is positive about the new strategy driving long-term earnings growth, but Citi maintains a more cautious view than management guidance.