CITIC Resources Holdings Limited is a Hong Kong-based natural resources company and a red chip subsidiary of the CITIC Group, one of China's largest state-owned conglomerates. Established in 1997, the company has evolved from a metals trading firm into a vertically integrated natural resources enterprise engaged in oil, coal, aluminum, and commodities trading.[1]
Corporate affairs
CITIC Resources is majority-owned by CITIC Limited, which holds approximately 59.5% of its shares.[2] As a red chip company, it operates with Chinese state backing but is incorporated and listed in Hong Kong. The company's chairman is Mi Zengxin.
The company is listed on the Hong Kong Stock Exchange under stock code.
History
In 2007, CITIC Resources acquired oil assets in Kazakhstan and Northeast China