Orient Securities Co., Ltd. Class H (HK:3958) has released an update.
Orient Securities Co., Ltd. Class H has announced a substantial provision for assets impairment of RMB311.0233 million for the first half of 2024, a figure that represents over 10% of the firm’s audited net profit for the previous financial year. The impairment provisions cover a range of financial assets, including those held under resale agreements, margin accounts, debt investments, and long-term equity investments. This move is intended to accurately reflect the company’s financial position and operating performance, in line with China Accounting Standards for Business Enterprises (CASBE).
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