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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.
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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.
China Cinda (01359.HK) issues profit warning: net income for the first half of the year is expected to decline by 40% to 50% year on year.
On July 24, GeLonghui announced that China Cinda (01359.HK) expects a decrease of about 40% to 50% in net income attributable to shareholders from the company during the six-month period ending on June 30, 2024, compared to the same period in 2023. The main reasons for the above changes are: (1) the decline in income from non-performing debt assets measured at amortized cost due to changes in the market environment; and (2) the increase in the company's provision for credit risks due to changes in the macroeconomic situation, in order to cope with the pressure on the quality of financial assets held by the company measured at the amortized cost. In the first half of 2024, facing
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