Capital Group

What Capital Group does

Beijing Capital Group is a Beijing municipal government-owned investment holding company founded in 1995 through the consolidation of 17 state-owned entities. It operates a "3+1" industrial system comprising ecological environmental protection (water, solid waste, atmospheric and energy services), urban development (real estate, long-term rental housing, outlet retail, cultural parks, metro operations), financial services (securities, guarantees, agricultural finance, asset management), and cultural sports (China Open tennis, Langyuan cultural parks, AIGC content). The group holds 3 A-share listed subsidiaries and 1 NEEQ-listed subsidiary, with total assets exceeding CNY 4,200 billion and over 36,000 employees as of 2021.

The company's technology stack is anchored in proprietary environmental systems including aerobic granular sludge (AGS) wastewater treatment — which broke foreign monopoly and was listed as a Beijing original technology source project — supported by the WEAM ecological smart operations platform and the ASMART water plant model intelligent control system. Digital infrastructure extends into a smart long-term rental cloud platform, rural property trading cloud platform, big data risk control for inclusive finance, and the WeCaring smart senior care system. AIGC content innovation and autonomous cleaning vehicle pilots round out its AI/ML portfolio.

Capital Group generates revenue through a mix of government PPP contracts and concession-based environmental services, real estate transactions, fee-based financial products (asset management exceeding CNY 250 billion), retail (outlet malls across 15 cities with 15 million+ visitors in 2025), and event-driven commerce (2025 China Open generated CNY 300 million in event revenue). Its primary customer base is B2G — Beijing municipal and district governments — supplemented by institutional, SME, agricultural, and consumer segments, with a go-to-market model combining direct enterprise sales, government bidding, and physical retail/cultural venues. Q1 2026 revenue reached CNY 90.5 billion, implying annual scale well above CNY 300 billion.

Name

Capital Group

Legal name

北京首都创业集团有限公司

Website

https://bjcapital.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1–10 employees

Short description

Beijing municipal state-owned holding company operating environmental protection, urban development, financial services, and cultural sports through subsidiaries serving government, institutional, SME, and consumer customers across China and Singapore.

Ownership category

akta.pro rank

Product category

Diversified State-Owned Investment Holdings

NAICS

Management of Companies and Enterprises (55111), Sports Teams and Clubs (711211), Other Investment Pools and Funds (5259)

SIC

Investors, Nec (6799), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Capital Delivery, Asset Management & Renewal Programs (Pipes, Plants, Pumps) (EUANAAAK)

akta.pro secondary industries

Capital Planning, Portfolio Prioritization & Funding (EUANALAB), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Environmental protection services
• Urban infrastructure development
• Water and wastewater treatment
• Investment holding management
• Cultural sports operations

Headquarters

HQ city

Xicheng

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Supply Chain, Marketing or Sales

Revenue model

1. 生态环保 (Environmental Protection): Revenue from water treatment, solid waste treatment, atmospheric treatment, and resource energy operations across 100+ cities. Capital Environmental Protection Group (首创环保集团) generates income from municipal water supply, wastewater treatment, recycling, sponge city construction, black smelly water body treatment, and waste-to-energy incineration. Operations span water utilities, environmental remediation, and smart environmental services.
2. 城市发展 (Urban Development): Revenue from real estate development, long-term rental housing, outlet retail operations, cultural parks, and transit operations. Includes 奥莱 (outlet mall) retail, long-term rental apartment operations (首创和园), cultural creative parks (郎园), and rail transit operations (京港地铁). Five-year cumulative asset sales exceeded 5 million sqm with proceeds over RMB 100 billion.
3. 金融服务 (Financial Services): Revenue from securities (首创证券), guarantees (首创担保), agricultural investment (北京农投), and fund management. Capital Securities generates income from wealth management, asset management, bond trading, and investment advisory. Beijing Agricultural Investment provides financing services to agriculture and small businesses.
4. 文化体育 (Culture & Sports): Revenue from China Open tennis tournament operations, cultural park operations (郎园), and outlet commercial operations (首创奥莱). 2025 China Open generated RMB 300 million in event revenue. Capital Outlets operates 15 cities nationwide with passenger flow exceeding 15 million in 2025.
5. REITs and Capital Markets Products: Revenue from innovative capital market products including China's first water utility public REITs, first outlet consumption infrastructure REITs, and first water utility asset-backed securities. Capital Group is the only Beijing municipal enterprise with dual public REIT platforms.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels4 records

Core offering

Capital Group is a Beijing municipal state-owned enterprise operating a "3+1" industrial system spanning ecological environmental protection, urban development, financial services, and cultural sports. It delivers integrated environmental infrastructure (water, solid waste, atmosphere, energy) across 100+ cities, real estate and long-term rental housing, securities and guarantee services, and operates the China Open tennis tournament plus branded cultural parks. Revenue is generated through subsidiary operating companies including Capital Eco Environment Group (A-share listed), Capital City Development Group, Capital Securities (A-share listed), Capital Guarantee, and Beijing Agricultural Investment.

Product overview

Capital Group operates as a diversified state-owned enterprise with '3+1' industrial structure (Ecological Environmental Protection, Urban Development, Financial Services + Cultural Sports). The product portfolio includes: (1) Environmental protection subsidiaries like 首创环保集团 (A-share listed) offering water treatment, solid waste and atmospheric services with proprietary AI platforms including WEAM and ASMART systems; (2) Urban development through 首创城发 managing real estate, long-term rental housing (首创和园), outlets (首创奥莱) and cultural parks (首创郎园); (3) Financial services via 首创证券, 首创担保, and 北京农投 offering securities, guarantees, rural finance and digital platforms; (4) Cultural sports including China Open tennis tournament and National Tennis Center. The group also operates joint ventures like 京港地铁 and maintains digital platforms for smart city operations.

Differentiator

Problem solved

Functional benefit

Brands

• 首创环保集团: Water, solid waste, atmospheric, and energy environmental protection industry chain covering 100+ cities in China and Singapore.
• 首创城发集团
• 首创证券
• 首创担保
• 北京农投
• 首创郎园
• 首创和园
• 首创奥莱
• 中网 / 中国网球公开赛
• 首创大厦
• 椿萱茂·和园
• 京津合作示范区

Products and services

• Capital Eco Environment Group (首创环保集团)
• Capital City Development Group (首创城发集团)
• Capital Securities (首创证券)
• Capital Guarantee (首创担保)
• Beijing Agricultural Investment (北京农投)
• Beijing-MTR Metro (京港地铁)
• China Open / National Tennis Center (中网公司)
• Capital Langyuan Cultural Parks (首创郎园)
• Capital Outlets (首创奥莱)
• Capital Heyuan Star Community (首创和园·繁星)
• Chunxuanmao Heyuan Senior Living Community (椿萱茂·和园)
• WEAM Ecological Smart Operations Platform (WEAM生态智慧运营平台)
• ASMART Wastewater Plant Model Intelligent Control System (ASMART污水厂模型智控系统)
• Rural Property Trading Cloud Platform (农村产权交易云平台)
• WeCaring Smart Senior Care System (WeCaring智慧养老系统)

Quantifiable outcome

• Water treatment capacity over 27 million tons/day; solid waste processing 15 million tons/year; serving 100+ million people across 29 provinces
• +6 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability16 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• 北京电控 (Beijing Electronics Group)coreStrategic or Co-development Partner · 4 June 2026Capital Group signed strategic agreement with Beijing Electronics Group to promote the 'Beidian Testing Integrated Circuit Equipment Precision Structure Parts Production and Manufacturing Base' project in the Jing-Jin Cooperation Demonstration Zone, advancing Beijing's electronic information industry upgrading and creating integrated circuit supporting facilities.
• 首农食品集团 (Shounong Food Group)coreStrategic or Co-development Partner · 4 June 2026Capital Group and Shounong Food Group signed strategic agreement for modern agricultural and cultural-tourism integration in the Jing-Jin Cooperation Demonstration Zone, focusing on facility agriculture, agricultural experience, and sightseeing leisure to create new consumer scenarios and serve Beijing's national cultural center construction.
• 北京朝阳医院怀柔医院 (Beijing Chaoyang Hospital Huairou Hospital)minorOthersThree-level general hospital partnership providing western medicine emergency and green channel services for the Chuxuanmao Heyuan senior living community.
• 北京中医医院顺义医院 (Beijing Traditional Chinese Medicine Hospital Shunyi Hospital)minorOthersLevel-3A traditional Chinese medicine hospital partnership providing TCM conditioning, acupuncture, and massage services for the Chuxuanmao Heyuan senior living community.
• 北京市顺义区医院 (Beijing Shunyi District Hospital)minorOthersLevel-3 general hospital partnership providing western medicine emergency and medical services for the Chuxuanmao Heyuan senior living community.
• 北京京顺医院 (Beijing Jingshun Hospital)minorOthersLevel-2 integrative medicine hospital partnership providing TCM and western medicine services for the Chuxuanmao Heyuan senior living community.
• 京港地铁 (MTR Beijing - Beijing Metro-Hong Kong Metro)coreStrategic or Co-development PartnerJoint venture between Capital Group and MTR Corporation operating 5 Beijing metro lines (Line 4, 14, 16, 17, Daxing line) representing ~22% of Beijing's metro network. 20+ year partnership with shared commitment to quality transit operations and TOD development.

Scale indicators12 records

Recent moves6 records

Regional players

• Beijing Infrastructure Investment Co., Ltd. (Beijing Jingtou): Beijing municipal SOE operating Beijing metro infrastructure and urban rail — directly comparable as a Beijing SOE with transit infrastructure operations overlapping the Beijing MTR JV and urban development segments.
• Shanghai Industrial Urban Development Group Limited: Shanghai-listed urban development company (0563.HK) with real estate, infrastructure, and urban renewal operations — comparable urban development and infrastructure focus but primarily serving Shanghai rather than Beijing.

Direct peers

• Guangdong Investment Limited: Hong Kong-listed infrastructure holding company (0270.HK) with major water utility operations (Dongshen Water), real estate, and infrastructure — directly comparable diversified profile spanning water utilities, infrastructure, and urban development.
• China Water Affairs Group Limited: Hong Kong-listed water utility company (0855.HK) focused on city water supply and wastewater treatment in China — directly comparable core business in Chinese municipal water services with similar regulatory and contract dynamics.
• Beijing Enterprises Water Group Limited: Major Hong Kong-listed water utility (0371.HK) operating in China and overseas — directly comparable business in water treatment, wastewater, and water reclamation services, with similar municipal contract profile and Chinese water sector exposure.
• Beijing Enterprises Holdings Limited: Beijing SOE holding company (0392.HK) operating across water utilities, beer, and real estate in Beijing — directly comparable as another diversified Beijing municipal SOE holding with environmental utilities, urban operations, and consumer-facing businesses.

Broad incumbents

• China Energy Conservation and Environmental Protection Group (CECEP): China's largest dedicated environmental SOE operating across water, solid waste, atmospheric, energy conservation, and new energy — directly comparable environmental protection scope at larger national scale and similar SOE governance model.
• China Merchants Group: Major Chinese central SOE operating across finance (banking, securities, insurance), real estate, ports, and logistics — broadly comparable diversified Chinese SOE structure with overlapping financial services, urban infrastructure, and holding-company dynamics.
• CITIC Group Corporation: China's largest diversified state-owned conglomerate operating across financial services, real estate, manufacturing, and resources — broadly comparable diversified SOE structure with similar holding-company dynamics across multiple sectors.
• China Everbright Group Corporation: Major Chinese central SOE operating across environmental, financial services (banking, securities, insurance), and real estate — broadly comparable diversified state-owned structure with overlapping environmental, financial, and urban development segments.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capital Group