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Conclusion

Success does not happen overnight — a winning

company is the result of persistence, determination

and constant effort. It also demands a long-term

view. There is no end to competition from others with

energy and ideas. It is up to CITIC’s management to

identify the next move and win in highly competitive

markets.

On behalf of the directors, I would like to express my

sincere appreciation and gratitude for the dedication

and commitment of our employees. I also thank you,

our shareholders, for taking a long-term view of our

company and prospects, and for having faith in your

board and management team to win over time. We

will continue to evolve, reform, and create value for

you.

Chang Zhenming

Chairman

Hong Kong, 26 August 2016

HALF-YEAR REPORT 2016

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