Huixin Credit (01577) released its interim performance for the six months ended June 30, 2024. During this period, the group achieved...
Zhongtong Finance App News, Huixin Credit (01577) released its interim performance for the six months ended June 30, 2024. During this period, the group earned interest income of 58.9572 million yuan (RMB, same below), a decrease of 13.79% compared to the same period last year. Shareholders' attributable profit was 33.2512 million yuan, a decrease of 4.52% compared to the same period last year. Basic earnings per share were 0.05 yuan.
The announcement stated that the average outstanding balance of the group's non-performing loans decreased by 19.7% from 0.758 billion yuan for the six months ended June 30, 2023 to 0.609 billion yuan for the six months ended June 30, 2024. This decrease was mainly attributed to the contraction of the loan portfolio. For the six months ended June 30, 2023 and 2024, the group's average effective interest rate decreased from 15.8% to 13.8%, primarily due to the lower interest rate on new loans issued during the reporting period.