$PUBLIC FIN HOLD (00626.HK)$ Another big loss of 0.19 billion, quietly abandoning the management and the old board of directors... It is estimated that goodwill will be lost by 0.6-1.1 billion, still claiming to be a high-quality Banks... Ridiculous... Public Banks and other champions... are only third in Malaysia... Once outside Malaysia, they are third from the bottom... Affected by the overall environment... Have not seen other Hong Kong banks... East Asia, OCBC loss... Simply rubbish...

$PUBLIC FIN HOLD (00626.HK)$ 160 financial companies have gone out of business, according to local media quoting industry sources, a large number of small and medium-sized business owners burdened with bank and financial debts, unable to repay in a high-interest environment, leading to bankruptcy declarations, turning debts into bad debts. On the other hand, Hong Kong property prices have dropped by nearly 20% from their peak, meaning that even if the property is repossessed by the lender, the value of the collateral obtained is only about 20%, ultimately forcing financially weak lending companies to exit the market.
Reports indicate that the performance of the major 'financial' company, Public Finance, showed that credit loss expenses surged by 148% year-on-year to approximately 0.324 billion yuan last year, the significant losses mainly due to the devaluation of commercial property prices and public vehicle license prices. The company explained that it was due to a large commercial borrower and several lease loan defaults, reflecting that other collateral loans were also impacted by high interest rates. In addition, the government lowered the statutory interest rate cap for lenders from 60 basis points to 48 basis points starting December 30, 2022, significantly squeezing the profit margins of 'financial' companies; coupled with unfavorable factors such as the downturn in the Hong Kong economy, individual borrowers, and even small and medium-sized enterprises ending up bankrupt, increasing the risk of bad debts, indicating an economic downturn, making it difficult for 'financial' companies relying on lending to survive.
160 'financial' companies have gone out of business! Popularly known as 'financial' companies, financial companies have never worried about having no business before. However, according to data from the Companies Registry, the number of licensed lenders fell to 2,270 last year, a decrease of 144 from the previous year; by January this year, the relevant number dropped to 2,254, with a cumulative decrease of up to 160.

$PUBLIC FIN HOLD (00626.HK)$ Today's shareholders' meeting decided to call the police.
The reason is that some shareholders don't talk about the number of cake cards...
Shareholders call the police if the disturbance process collides