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中国金融发展(03623)预期中期取得净收益同比大幅增加约1763%

c success fin (03623) is expected to achieve a significant increase in net income on a year-on-year basis of about 1763% in the medium term.

Zhitong Finance ·  Aug 23 17:12

c success fin (03623) announced that the group is expected to report net income during the reporting period (ended June 30, 2024...

Zhongjin Finance Development (03623) announced that the group expects to achieve a significant increase in net income during the reporting period (6 months ended June 30, 2024), with an increase of about 1763% compared to the same period last year (i.e. 6 months ended June 30, 2023, the same period last year). The range of decrease in the loss amount during the reporting period compared to the same period last year is 32% to 42%.

The main reasons for the significant increase in income during the reporting period include: the net income from guarantee business is about RMB 14 million, a significant increase of 702% compared to the same period last year, mainly due to the growth of guarantee service business; the income from hog farming business during the reporting period is about RMB 4 million, a significant increase of 279% compared to the same period last year, mainly due to the increase in hog sales compared to the same period last year; and the new launch of energy storage system sales business in December 2023 contributed about RMB 35 million during the reporting period.

The group's financial performance improved during the reporting period, and the net loss decreased mainly due to the comprehensive impact of the following factors: increased income, as mentioned above; significantly reduced operating expenses compared to the same period last year, mainly due to the reduced number of culled pigs and reduced employee costs during the reporting period; a decrease in interest expenses compared to the same period last year, mainly due to the reduction in principal of convertible bonds during the reporting period; and impairment losses recognized for the properties, plants, and equipment of the hog sales department due to the challenges in the industry environment.

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