CITIC Limited operates in highly competitive markets. Failure to compete in terms of product specifications, service quality, reliability or price may have an adverse impact on the Group.
– The financial services business faces fierce competition from domestic and international commercial banks and other financial institutions.
– The engineering contracting business is challenged by global peers as well as China’s large state-owned enterprises and private companies.
– Resources and energy, manufacturing, real estate, and other businesses in different sectors also face severe competition over resources, technologies, prices and services.
Intensification of competition might result in lower product prices, narrower profit margins as well as loss of market share for CITIC Limited.