China Tonghai Financial Reports Sharp Profit Decline

China Tonghai International Financial Limited (HK:0952) has released an update.

China Tonghai International Financial Limited has reported a substantial drop in net profit for the first half of 2024, with net profit attributable to equity holders decreasing from HK$111.269 million in the previous year to HK$11.162 million. The interim results also show a marked decline in total revenue from HK$368.7 million to HK$138.942 million. This financial performance reflects a challenging period, with lower fee and commission income, reduced interest income, and a net investment loss.

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