Summary by Moomoo AI
Value Partners announced its interim results on June 30, 2024, showing a 14.8% decrease in total revenue from the same period last year to HKD 235.7 million. The total amount of management fees also decreased by 18.3% to HKD 200.8 million. However, the company's profit attributable to owners increased significantly by 663.3% to HKD 37.4 million, and both basic and diluted earnings per share increased by 566.7% to 2.0 Hong Kong cents. No interim dividend was declared during the period. Value Partners mentioned that although investors worldwide remain cautious, the Asian market has improved, especially the Chinese market, which is starting to be positively viewed by investors due to signs of economic recovery and market reform. Value Partners' asset management size slightly decreased to USD 5.4 billion, mainly affected by some investors' risk aversion towards assets. The Company continues to implement rigorous cost control measures and invest in critical strategic growth areas. The Board of Directors did not recommend an interim dividend and will continue to focus on Asian investments to seize regional growth opportunities.