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Hong Kong stock market mid-day review: Hang Seng Index fell by 1.42%, recording 3 consecutive declines. Technology and financial stocks and other weights fell across the board. Photovoltaic stocks bucked the trend and rose.
The three major indexes continue to decline, all recording three consecutive falls.
Hong Kong stocks fluctuate | China Cinda (01359) fell more than 4% after warning of profits, and it is expected that the net income attributable to shareholders in the middle of the year will decline by about 40% to 50% year-on-year.
China Cinda (01359) is now down over 4%. As of press time, it has fallen by 3.03% to HKD 0.64, with a turnover of HKD 15.3082 million.
China Cinda Asset Management Expects Up to 50% Decline in H1 Profit
China Cinda's Bond Issuance Plan Extended
China Cinda Asset Management Sees 1H Net Profit Dropping 40%-50% on Year >1359.HK
China Cinda (01359) is expected to see a decline of up to 50% in net income for the first half of the year.
China Cinda (01359) announced that the company's net income attributable to shareholders for the six months ending on June 30, 2024 is expected to decrease by about 40% to 50% compared to the same period in 2023. The announcement pointed out that the main reasons for the above changes are: (1) The decrease of income from non-performing debt assets measured at amortized cost is affected by changes in the market environment. (2) Affected by changes in the macroeconomic situation, the company has increased the provision for credit risk to cope with the pressure on the quality of some financial assets measured at amortized cost held by the company.
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