Construction And Urban Operation
CITIC Construction is a well-known international integrated engineering service provider, with the top A+ qualification for general contracting of housing construction in China and the National High-Tech Enterprises Certification. The company engages in the construction of housing, infrastructure, and industrial facilities, and proactively seeks further development in areas such as agriculture, ecological management, resources, and energy. In its overseas market that covers over 20 countries or regions, it focuses on promoting win-win cooperation with countries along the Belt and Road and expansion of third-party markets with renowned companies in the United Kingdom, Japan, South Korea, Singapore and other countries. The company’s domestic business is mainly concentrated in key national development regions such as the Jingjinji Metropolitan Region, the Yangtze River Economic Belt, the Guangdong-Hong Kong-Macao Greater Bay Area, the Chengdu-Chongqing Economic Circle, the Hainan Free Trade Zone and the Yellow River Basin for Ecological Protection and High Quality Development. The company has completed several large-scale urban-industry integrated public-private partnership projects to build a brand of central state-owned enterprises in the field of new urbanisation.
Tapping into CITIC’s extensive resources and network, CITIC Construction provided clients with comprehensive services for the entire industry chain in addition to engineering contracting services, including project planning, design, investment, financing, construction and operation. These supporting services are crucial for projects to achieve expected revenues.
Through the successful delivery of large-scale livelihood projects important to the communities in which it operates, CITIC Construction has established a strong brand image and reputation over the years. It is widely regarded today as a highly successful Chinese engineering contracting enterprise within the industry. CITIC Construction has achieved top rankings among the Global Top 250 International Contractors by Engineering News-Record (ENR) of the United States for many years. In 2023, CITIC Construction was awarded with the title of “A-level Enterprise for China’s Overseas Contracting Projects” and obtained the AAA-level Enterprise Credit Rating Certificate in the field of complete sets of integrated engineering. The company was also shortlisted as one of the Top 100 Enterprises for Overseas Contracting Projects, receiving full recognition from the industry.
Year in Review
In 2022, CITIC Construction recorded revenue of RMB17,648 million, a decrease of 26% over the same period last year, with the profit attributable to shareholders of RMB686 million.
In 2023, CITIC Construction took advantage of the 10th anniversary of the Belt and Road Initiative to further deepen its engagement in key markets along the Belt and Road route, actively integrating into the national regional development strategy. It focused on advancing project construction with high quality and efficiency. The company has also been expanding into new markets and new business areas.
CITIC Construction has been seizing development opportunities in markets along the Belt and Road, and strengthening its presence in key markets. The 84km eastern section of the East-West Highway in Algeria has been completed and opened to traffic, marking the completion of the “Century Project” in Algeria. The Iraq Missan Combined Cycle Power Plant project has started commercial operation. CITIC Construction has been progressing on the social housing project in Riyadh, Saudi Arabia, optimising the business model and design to adapt to the local market, striving to create a new model of China-Saudi cooperation. The asphalt road surface of the highway reconstruction project in Kazakhstan has been completed. The final acceptance of the last 19 trains for the Buenos Aires Metro Vehicle project in Argentina has also been completed.
The company has been strengthening its competitiveness in the segmented construction sector, solidifying its core capabilities in the domestic market. In addition, it has been consolidating and improving the management capabilities of its fund business, continuously enhancing the efficiency of investment-driven operations. CITIC Construction has been innovative in developing light asset business models through the continuation of Phase II construction of the Henan Luoyang Comprehensive Free Trade Zone. The Lincang–Qingshui Expressway project has been completed and opened to traffic, connecting an important section of the China–Myanmar–India Oceanic Passage. Both the Nanjing Green Water Bay Road project and China-Europe Intelligent Technology Industry Innovation Center at the Ji’nan Ecological Port have started construction. During the year, the structural construction of a number of projects have been completed, including Block 09, Phase 1 of the Nanjing Science and Technology Innovation Base project, an apartment building for Sino-Japanese staff at Dalian Ecological City, the main structure of Buildings 3 and 4 of Lingshui Wenluo Agricultural Products Market, and Tower 2 of the CITIC Financial Center in Shenzhen, while several projects have passed completion inspection, including the CITIC Bank Information Technology Research and Development Base project, Phase 2 of the Ziyang Standardized Plant, the Ziyang Leijiagou Sewage Treatment Plant, the Cultural Activity Center at the Neijiang Science and Technology City, and the Jingli Road of Jingzhou Haizi Lake project. Key projects such as Wuhan Yangtze River New Town and Yancheng High-Speed Rail New Town commenced construction. The Jinzhan resettlement housing project has delivered 2,457 housing units, and section 1 of the contract has been awarded the Gold Award of Beijing Construction (Structure) Great Wall Cup.
In the overseas market, the company continues to deepen international industrial capacity cooperation. In 2023, the signed contracts include the second phase of the geological survey project in Angola, the supply and SMPP installation project for the Kipushi Zinc Mine in the Democratic Republic of Congo, and the third phase expansion project of the Kungrad Alkali Plant in Uzbekistan. Domestically, the company has signed contracts for a series of projects, including the municipal project from Zhongshan North Road to Shugang Avenue in Lingshui County, Hainan Province, the continuation of Phase II of Luoyang Comprehensive Free Trade Zone project, and Building C of the Frontier Interdisciplinary Science Research Institute at Beijing Institute of Technology Liangxiang Campus. The total value of new contracts signed throughout the year amounted to approximately RMB16.35 billion.
Through the successful delivery of large-scale livelihood projects important to the communities in which it operates, CITIC Construction has established a strong brand image and reputation over the years. It is widely regarded today as a highly successful Chinese engineering contracting enterprise within the industry. CITIC Construction has achieved top rankings among the Global Top 250 International Contractors by Engineering News-Record (ENR) of the United States for many years. In 2023, CITIC Construction was awarded with the title of “A-level Enterprise for China’s Overseas Contracting Projects” and obtained the AAA-level Enterprise Credit Rating Certificate in the field of complete sets of integrated engineering. The company was also shortlisted as one of the Top 100 Enterprises for Overseas Contracting Projects, receiving full recognition from the industry.
Year in Review
| RMB million | 2023 | 2022 | Change |
|---|---|---|---|
| Revenue | 17,647.65 | 23,987.18 | -26% |
| Profit attributable to shareholders | 685.94 | 1,085.82 | -37% |
| Total assets | 52,307.45 | 53,125.82 | -2% |
In 2023, CITIC Construction took advantage of the 10th anniversary of the Belt and Road Initiative to further deepen its engagement in key markets along the Belt and Road route, actively integrating into the national regional development strategy. It focused on advancing project construction with high quality and efficiency. The company has also been expanding into new markets and new business areas.
CITIC Construction has been seizing development opportunities in markets along the Belt and Road, and strengthening its presence in key markets. The 84km eastern section of the East-West Highway in Algeria has been completed and opened to traffic, marking the completion of the “Century Project” in Algeria. The Iraq Missan Combined Cycle Power Plant project has started commercial operation. CITIC Construction has been progressing on the social housing project in Riyadh, Saudi Arabia, optimising the business model and design to adapt to the local market, striving to create a new model of China-Saudi cooperation. The asphalt road surface of the highway reconstruction project in Kazakhstan has been completed. The final acceptance of the last 19 trains for the Buenos Aires Metro Vehicle project in Argentina has also been completed.
The company has been strengthening its competitiveness in the segmented construction sector, solidifying its core capabilities in the domestic market. In addition, it has been consolidating and improving the management capabilities of its fund business, continuously enhancing the efficiency of investment-driven operations. CITIC Construction has been innovative in developing light asset business models through the continuation of Phase II construction of the Henan Luoyang Comprehensive Free Trade Zone. The Lincang–Qingshui Expressway project has been completed and opened to traffic, connecting an important section of the China–Myanmar–India Oceanic Passage. Both the Nanjing Green Water Bay Road project and China-Europe Intelligent Technology Industry Innovation Center at the Ji’nan Ecological Port have started construction. During the year, the structural construction of a number of projects have been completed, including Block 09, Phase 1 of the Nanjing Science and Technology Innovation Base project, an apartment building for Sino-Japanese staff at Dalian Ecological City, the main structure of Buildings 3 and 4 of Lingshui Wenluo Agricultural Products Market, and Tower 2 of the CITIC Financial Center in Shenzhen, while several projects have passed completion inspection, including the CITIC Bank Information Technology Research and Development Base project, Phase 2 of the Ziyang Standardized Plant, the Ziyang Leijiagou Sewage Treatment Plant, the Cultural Activity Center at the Neijiang Science and Technology City, and the Jingli Road of Jingzhou Haizi Lake project. Key projects such as Wuhan Yangtze River New Town and Yancheng High-Speed Rail New Town commenced construction. The Jinzhan resettlement housing project has delivered 2,457 housing units, and section 1 of the contract has been awarded the Gold Award of Beijing Construction (Structure) Great Wall Cup.
In the overseas market, the company continues to deepen international industrial capacity cooperation. In 2023, the signed contracts include the second phase of the geological survey project in Angola, the supply and SMPP installation project for the Kipushi Zinc Mine in the Democratic Republic of Congo, and the third phase expansion project of the Kungrad Alkali Plant in Uzbekistan. Domestically, the company has signed contracts for a series of projects, including the municipal project from Zhongshan North Road to Shugang Avenue in Lingshui County, Hainan Province, the continuation of Phase II of Luoyang Comprehensive Free Trade Zone project, and Building C of the Frontier Interdisciplinary Science Research Institute at Beijing Institute of Technology Liangxiang Campus. The total value of new contracts signed throughout the year amounted to approximately RMB16.35 billion.
Major Projects
CITIC Environment is the sole investment and operational platform of CITIC Limited for environmental protection. With its leading comprehensive service capabilities and core technological advantages across the environmental protection industry chain, the company is committed to becoming a world-class environmental industry group. Its business covers ecological environmental protection, urban and rural construction, membrane manufacturing, intelligent construction, and clean energy, among other fields, through five major sectors: investment, design consultation, production manufacturing, engineering contracting, and project operations. CITIC Environment has established business operations throughout the country, while internationally it has executed numerous projects in the United States, Southeast Asia, and countries and regions along the Belt and Road. The company has three subsidiaries that are well-known firms in China, namely Central and Southern China Municipal Engineering Design and Research Institute Co., Ltd (CSMEDI), CITIC Envirotech and CITIC General Institute of Architecture Design and Research Co., Ltd (CADI).
In 2023, CITIC Environment fully implemented the integration and development strategy for CITIC Limited’s environmental businesses. The company continuously improved its business model, which focuses on planning and leadership, technical support, digital empowerment, and the integration of investment, construction, equipment, and operation throughout the business life cycle, all enabled by digitalisation. Consequently, it has positioned itself as a domestic environmental enterprise with distinctive advantages across the entire industry value chain. Throughout the year, the company and its subsidiaries received considerable recognition. Central and Southern China Municipal Engineering Design and Research Institute Co., Ltd (CSMEDI) ranked ninth in terms of revenue in the field of engineering survey and design in China. CITIC Envirotech was recognised as one of the “Top 50 Environmental Enterprises in China for 2023.” Additionally, CITIC General Institute of Architecture Design and Research Co., Ltd (CADI) continued to be listed as one of the “Top 60 Engineering Design Companies in China” by global construction industry authority Engineering News-Record (ENR).
CITIC Environment achieved significant results in digital transformation. Phase I of a major Building Information Modelling (BIM) project of the Ministry of Industry and Information Technology (MIIT) has successfully passed the acceptance inspection and is currently engaged in proactive efforts to drive the transformation of project outcomes. The research and development work for Phase II of MIIT’s BIM project is progressing. This project holds significance in maximising achievements under Phase I of the MIIT project by continuously enhancing the overall digitalisation capabilities and influence of the company. CITIC Environment is experiencing ongoing growth in the digital sector, such as in smart water management, intelligent transportation, intelligent construction, and smart buildings. In the reporting year, the company has achieved nearly RMB500 million in newly signed digital service contracts.
In terms of technological innovation, 2023 was another highly successful year for CITIC Environment. It launched nearly 110 scientific research projects, including four national projects, obtained 245 authorised patents, including 34 invention patents, and edited or co-edited a set of six standards and specifications, among which two were national level.
CITIC Environment made unique contributions by actively implementing national strategic goals during 2023. Phase II of the Futian Water Purification Plant, the largest semi-underground water purification plant in Asia, was successfully completed. Operations for the National Network Security Talents and Innovation Base Project and the Hangzhou Sanyi Line Road and Landscape Enhancement Project, a key project for the Asian Games, commenced. The Zhuhai Shizimen Tunnel, the first underwater tunnel in China with both vehicle and pedestrian functions, was officially opened. Phase I of the first domestic submerged reclaimed water plant integrating overground and underground development in Xiabei District, Ningbo, was put into operation.
CITIC Environment achieved significant results in digital transformation. Phase I of a major Building Information Modelling (BIM) project of the Ministry of Industry and Information Technology (MIIT) has successfully passed the acceptance inspection and is currently engaged in proactive efforts to drive the transformation of project outcomes. The research and development work for Phase II of MIIT’s BIM project is progressing. This project holds significance in maximising achievements under Phase I of the MIIT project by continuously enhancing the overall digitalisation capabilities and influence of the company. CITIC Environment is experiencing ongoing growth in the digital sector, such as in smart water management, intelligent transportation, intelligent construction, and smart buildings. In the reporting year, the company has achieved nearly RMB500 million in newly signed digital service contracts.
In terms of technological innovation, 2023 was another highly successful year for CITIC Environment. It launched nearly 110 scientific research projects, including four national projects, obtained 245 authorised patents, including 34 invention patents, and edited or co-edited a set of six standards and specifications, among which two were national level.
CITIC Environment made unique contributions by actively implementing national strategic goals during 2023. Phase II of the Futian Water Purification Plant, the largest semi-underground water purification plant in Asia, was successfully completed. Operations for the National Network Security Talents and Innovation Base Project and the Hangzhou Sanyi Line Road and Landscape Enhancement Project, a key project for the Asian Games, commenced. The Zhuhai Shizimen Tunnel, the first underwater tunnel in China with both vehicle and pedestrian functions, was officially opened. Phase I of the first domestic submerged reclaimed water plant integrating overground and underground development in Xiabei District, Ningbo, was put into operation.
Major Projects
Infrastructure: CITIC Industrial Investment invests in and manages infrastructure projects such as ports, port terminals, and regional development operations in China. The port and terminal business mainly focuses on the investment in and independent operation of liquefied petroleum terminals and storage facilities, as well as the operation of other types of berths, such as containers. At present, CITIC Industrial Investment has a combined handling capacity of about 32 million tonnes and a storage capacity of about 1.32 million cubic metres of liquefied petroleum. In the future, CITIC Industrial Investment intends to focus on liquefied petroleum products from its base in Ningbo. The company will accelerate the construction of liquefied petroleum terminals and storage projects, striving to become an influential and comprehensive logistics and warehousing service provider of liquid chemicals in domestic market segments.
| Project | Ownership | Designed handling capacity/ storage capacity |
|---|---|---|
| Port storage | ||
| Xinrun Petrochemical Storage Transport | 90% | 6 million tonnes/600,000m³ |
| PetroChina Fuel Oil Port | 51% | 12 million tonnes |
| Guanwai Liquefied Products Port | 51% | 1.8 million tonnes |
| Xinyuan Port | 51% | 7.2 million tonnes |
| Xinhai Oil Terminal | 30% | 720,000m³ |
| Gangfa Crude Oil Port | 20% | 5 million tonnes |
| Ningbo Daxie Container Terminal | 20% | 2.4 million TEU |
The regional development business refers to the Xidian New Town Project in Ningbo, with construction projects involving reclamation engineering, land consolidation and urban infrastructure. The company also develops supporting projects involving water engineering and green land development, with a planned development land area of approximately 6,480mu, and a gross construction area of approximately 4 million square metres. In 2023, the company acquired 378mu of collective land and 56mu of vacated land reserve for the Xidian New Town Project, obtaining continuous results in land acquisition and demolition. Despite pressure from real estate market adjustments, the company successfully completed the transfer of 54mu of land. With a strategic focus on constructing a commercial and cultural centre in the new town, the project team efficiently and effectively completed the development of comprehensive supporting facilities, which helped to enhance the brand value and attractiveness of Xidian New Town.
Healthcare: CITIC Limited operates and manages its healthcare business through CITIC Pacific and CITIC Industrial Elderly Care.
CITIC Pacific mainly engages in the operation of medical and elderly care services, as well as medical equipment distribution. The medical services business comprises four hospitals with 1,229 beds including Jiangyin Lingang Hospital, as well as Hangzhou Chengdong Hospital, Shaoxing Chengdong Hospital and Shaoxing Shangyu Third Hospital, which are operated via Hong’en Medical Group. Among them, Jiangyin Lingang Hospital was acquired by CITIC Pacific in 2018 and is located centrally in the Lingang Economic Development Zone of Jiangyin in Jiangsu Province. Since the acquisition, the hospital has rapidly improved its diagnostic treatment and service standards with the introduction of experts and upgrading of equipment, and it has been elevated to a Grade II Level A general hospital. In 2023, Jiangyin Lingang hospital successfully signed a medical consortium agreement with Tongji University Affiliated Dongfang Hospital, aiming to enhance the level of medical management, technological expertise, and comprehensive service capabilities. The hospital is currently constructing a new campus with a capacity of 650 beds, following the standards of a tertiary general hospital. The progress of the new campus construction is on schedule, and it is expected to be delivered in the second quarter of 2024. In 2023, Hangzhou Chengdong Hospital, which is under the management of Hong'en Medical Group, was incorporated into the Hangzhou City 120 Emergency Network, thereby enhancing its abilities to respond to emergencies. Shangyu Third Hospital, in collaboration with Shaoxing People’s Hospital, has entered into agreements with collaborative organisations, partner hospitals and orthopedic expert groups, which brought its medical disciplinary capabilities to a new level.
CITIC Pacific has extended its elderly care business to Jiangyin, Zhenjiang, Yancheng and Fuzhou. With 887 elderly care/nursing care beds in 5 elderly care homes and 3 nursing institutions, it provides elderly care services to approximately 46,000 households through various operations. It actively promotes a business model of integrated medical and elderly care, making use of its rich medical resources. Through its operational model, the company provides diversified services including nursing home operations, intensive care services, and community and in-home care for seniors.
Haoan Health and Shanghai Youhe Medical, both subsidiaries of CITIC Pacific, provide medical equipment and consumables sales, marketing, distribution, and professional services across the country, mainly focusing on the Jiangsu, Zhejiang and Shanghai markets. Notably, Haoan Health has been deeply involved in the Zhejiang Province market for a long time. At present, it provides high-quality medical equipment and consumables for nearly 400 hospitals in Zhejiang Province in the fields of gastroenterology, urology, neurology and neurosurgery, covering more than 20 major product categories, and maintains a leading position in the medical device industry in the fields of gastroenterology and urology in Zhejiang Province. Shanghai Youhe Medical’s business footprint spreads across four major markets in Shanghai, Jiangsu, Zhejiang and Henan, as well as multiple medical-centre-cities in South China, Southwest China and North China. It has cooperated with more than 700 medical institutions to provide professional solutions for clinical intervention, diagnosis and treatment in the fields of gastroenterology and early-stage respiratory cancer. With over 30 high-quality national and international medical equipment product lines, Shanghai Youhe Medical has established itself as an influential and trusted provider in the industry.
CITIC Industrial Elderly Care strategically focuses on market-driven, high-quality, and centralised elderly care services. With a positioning that is “urban, comprehensive, and healthcare and wellness-oriented”, the company offers three main product offerings: lively residences, elderly care facilities, and Skilled Nursing Facility. This approach has led to the development of three brands rooted in the Chinese word Xin (信): “Xinlan, Xinfu & Xinyue, and Xinyang”. The company’s primary focus is on the major cities of Shanghai and Hangzhou. Currently, it has been providing a total of 3,300 beds, successfully operating 8 premium projects.
In 2023, CITIC Industrial Elderly Care successfully launched two major projects with a capacity of over 1,000 beds each: Youyou Xinfu in Pudong and Xinlan Tianti in Chongming. Throughout the year, the company’s three main product lines witnessed a net increase of approximately 600 occupied beds, with over 1,000 elderly residents by the year end. The annual operating revenue experienced a year-on-year growth of 35%.
Moving forward, CITIC Industrial Elderly Care will maintain its focus on market-driven, chain-based, centralised elderly care services. With Shanghai as its central base in the Yangtze River Delta region, the company plans to gradually expand its business nationwide. Through internal expansion, acquisitions, and capital operations, it strives to become a leading enterprise in the Chinese elderly care industry with distinctive features, excellent capabilities, and leading scale.
CITIC Pacific has extended its elderly care business to Jiangyin, Zhenjiang, Yancheng and Fuzhou. With 887 elderly care/nursing care beds in 5 elderly care homes and 3 nursing institutions, it provides elderly care services to approximately 46,000 households through various operations. It actively promotes a business model of integrated medical and elderly care, making use of its rich medical resources. Through its operational model, the company provides diversified services including nursing home operations, intensive care services, and community and in-home care for seniors.
Haoan Health and Shanghai Youhe Medical, both subsidiaries of CITIC Pacific, provide medical equipment and consumables sales, marketing, distribution, and professional services across the country, mainly focusing on the Jiangsu, Zhejiang and Shanghai markets. Notably, Haoan Health has been deeply involved in the Zhejiang Province market for a long time. At present, it provides high-quality medical equipment and consumables for nearly 400 hospitals in Zhejiang Province in the fields of gastroenterology, urology, neurology and neurosurgery, covering more than 20 major product categories, and maintains a leading position in the medical device industry in the fields of gastroenterology and urology in Zhejiang Province. Shanghai Youhe Medical’s business footprint spreads across four major markets in Shanghai, Jiangsu, Zhejiang and Henan, as well as multiple medical-centre-cities in South China, Southwest China and North China. It has cooperated with more than 700 medical institutions to provide professional solutions for clinical intervention, diagnosis and treatment in the fields of gastroenterology and early-stage respiratory cancer. With over 30 high-quality national and international medical equipment product lines, Shanghai Youhe Medical has established itself as an influential and trusted provider in the industry.
CITIC Industrial Elderly Care strategically focuses on market-driven, high-quality, and centralised elderly care services. With a positioning that is “urban, comprehensive, and healthcare and wellness-oriented”, the company offers three main product offerings: lively residences, elderly care facilities, and Skilled Nursing Facility. This approach has led to the development of three brands rooted in the Chinese word Xin (信): “Xinlan, Xinfu & Xinyue, and Xinyang”. The company’s primary focus is on the major cities of Shanghai and Hangzhou. Currently, it has been providing a total of 3,300 beds, successfully operating 8 premium projects.
In 2023, CITIC Industrial Elderly Care successfully launched two major projects with a capacity of over 1,000 beds each: Youyou Xinfu in Pudong and Xinlan Tianti in Chongming. Throughout the year, the company’s three main product lines witnessed a net increase of approximately 600 occupied beds, with over 1,000 elderly residents by the year end. The annual operating revenue experienced a year-on-year growth of 35%.
Moving forward, CITIC Industrial Elderly Care will maintain its focus on market-driven, chain-based, centralised elderly care services. With Shanghai as its central base in the Yangtze River Delta region, the company plans to gradually expand its business nationwide. Through internal expansion, acquisitions, and capital operations, it strives to become a leading enterprise in the Chinese elderly care industry with distinctive features, excellent capabilities, and leading scale.
Key Projects in Operation
| Project | Category | Location & Capacity |
|---|---|---|
| Xinlan Tiandi, Chongming | Resort-style cultural and tourism-based elderly care community | Located in Chongming District, Shanghai, the facility covers approximately 216 acres with a building area of around 160,000m2, accommodating over 1,000 beds. |
| Youyou Xinfu, Pudong | Urban integrated healthcare and wellness community | Located in Pudong New Area, Shanghai, the facility covers approximately 70,000m2 with over 1,000 beds. |
| Xinyue 88, Hangzhou | Urban integrated healthcare and wellness community | Located in Shangcheng District, Hangzhou, Zhejiang Province, the facility covers approximately 20,000m2 with over 260 beds. |
| Xinyang Home Baoshan Dachang Elderly Care Home | Elderly nursing care facility | The facility has over 260 beds, located in Baoshan District, Shanghai, |
| Xinyang Home Jinxiu Elderly Care Home, Pudong | Elderly nursing care facility | The facility has over 170 beds, located in Pudong New Area, Shanghai |
| Xinyang Home Xinjiangwan Elderly Care Home, Yangpu | lderly nursing care facility | The facility has over 160 beds, located in Yangpu District, Shanghai |
| Xinyang Home Aiqinren Nursing Home | Skilled Nursing Facility | The facility has over 170 beds, located in Yangpu District, Shanghai |
| Xinyang Home Zhenyue Nursing Home | Skilled Nursing Facility | The facility has over 300 beds, located in Yangpu District, Shanghai |
General Aviation: As a leading company in the aviation industry, CITIC Offshore Helicopter (COHC) operates a full-service general aviation business with comprehensive capabilities and is the first and only mainboard-listed company in the general aviation industry in China (000099.SZ). COHC’s range of offshore and onshore services spans offshore oil air services, air emergency rescue, aircraft maintenance, port navigation-support, offshore wind power, and drone operation. In late July 2023, the company participated in an emergency assistance to Zhuozhou City in Hebei province, in which 49 individuals were rescued through aerial operations, and approximately 2.6 tonnes of relief supplies were air-dropped. Additionally, COHC successfully completed flight support missions for the 39th Antarctic scientific expedition and the 13th Arctic scientific expedition, organised by the country.
Headquartered in Shenzhen, Guangdong Province, COHC owns four heliports in Shenzhen, Hainan, Tianjin, and Zhanjiang. Its bases, take-off and landing points form a network covering all provinces, municipalities, and autonomous regions within the country, except Tibet; in overseas areas such as the North and South Poles; and in Myanmar. COHC has the largest civil helicopter fleet in Asia and operated 89 helicopters comprising 15 world-class helicopter models as of the end of 2023. During the year, COHC maintained its leading market share in offshore oil helicopter flight services. It is the sole provider of helicopter pilots to ports across the country, and the only supplier of helicopters for China’s national arctic scientific expeditions. COHC is also the sole general aviation company in the country that engages in offshore oil flight services overseas.