In 2024, the new consumption segment tackled the impact of weak domestic consumer demand, reporting RMB49.872 billion in revenue, a year-on-year decline of 3.0%. The segment’s profit attributable to shareholders dropped 95.9% to RMB42 million, which was affected by a sluggish Brazilian seed market leading to reduced profits from CITIC Agriculture’s investments in Longping High-tech and Longping Agriscience. CITIC Telecom International saw a significant year-on-year increase in 5G user numbers in Macau and continued to gain market share in postpaid customers. The company recorded revenue of HK$9.573 billion and profit attributable to the parent company of HK$910 million. CITIC Press recorded a 1.7% year-on-year decline in revenue, reaching RMB1.687 billion due to a downturn of the industry and the impact of price controls on books. However, by enhancing its digital publishing system and strengthening procurement and sales discount management, the company increased its gross profit margin by 4.09 percentage points. Consequently, profit attributable to the listed company’s shareholders rose by 2.0% to RMB119 million.
