On July 18th, Gelonghui reported that Public Fin Hold (00626.HK) recorded a post-tax loss of HKD 34.5 million for the six months ending June 30, 2024, decreasing significantly by HKD 0.1483 billion from the same period last year. The group's basic loss per share was HKD 0.03. Due to the uncertain operating environment and its financial performance, the board of directors did not declare an interim dividend. During the review period, the group's total interest income increased by HKD 63.3 million or 6.7% to HKD 1.0138 billion, mainly due to an increase in interest income from debt securities investments in a high interest rate environment. Total interest expenses increased by HKD 99.7 million to HKD 0.543 billion, mainly due to an increase in interest costs on term deposits, and the migration of low-cost savings and current deposits to term deposits. As a result, the group's net interest income decreased by HKD 36.4 million, or 7.2%, to HKD 0.4707 billion. The group's non-interest income decreased by HKD 11.6 million or 8.6% to HKD 0.1232 billion, mainly due to a decrease in wealth management services, stock brokerage and securities management fees and commissions as a result of the reduced stock market turnover during the review period. The group operates its loan business prudently in the challenging operating environment, focuses strategically on the mortgage market with reasonable interest income to control credit risk, and manages the speed of rising funding costs to reduce the adverse impact on net interest spread. In the face of weak consumer confidence and a slowdown in corporate loan demand, the group continues to expand its fee-based business, broaden revenue sources, and pursue long-term business development and sustainable profit growth.
Therefore, the group's net interest income decreased by HKD 36.4 million, or 7.2%, to HKD 0.4707 billion. The group's non-interest income decreased by HKD 11.6 million or 8.6% to HKD 0.1232 billion, mainly due to a decrease in wealth management services, stock brokerage and securities management fees and commissions as a result of the reduced stock market turnover during the review period.
The group operates its loan business prudently in the challenging operating environment, focuses strategically on the mortgage market with reasonable interest income to control credit risk, and manages the speed of rising funding costs to reduce the adverse impact on net interest spread. In the face of weak consumer confidence and a slowdown in corporate loan demand, the group continues to expand its fee-based business, broaden revenue sources, and pursue long-term business development and sustainable profit growth.