Haitong Securities Co (HK:6837) has released an update.
Haitong Securities Co., Ltd. reported a significant decrease in net profit for the first half of 2024, with expected earnings of RMB919.00 million to RMB1,167.00 million, marking a drop of approximately 70% to 76% from the previous year. The downturn is attributed to market fluctuations, reduced investment gains, and a decline in equity financings impacting their investment banking revenue. Despite the challenges, the company maintains a stable business with sound financials and is focusing on improving its core competitiveness in the finance sector.
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