Investment firm China Merchants swings to H1 net loss
Investment firm China Merchants swings to H1 net loss
Overview
Hong Kong investment company's H1 net loss was $59.8 mln, reversing last year's profit
Loss driven by $112 mln net loss on financial assets, mainly from listed investments
Company raised interim and special interim dividends to $0.12 per share, up from $0.08 last year
Outlook
Company did not provide specific financial guidance or forecasts for the current or future periods in the press release
Result Drivers
LISTED INVESTMENTS LOSS - Co said net loss was mainly due to decline in value of listed financial assets
DIVIDEND INCOME SURGE - Co said investment income rose sharply due to increased dividend income from investments
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Loss Attributable |
| $59.8 mln |
|
Reuters Recommended Reads
Aug 26 - Hong Kong's BOCOM International H1 loss narrows on higher corporate finance fees
Aug 26 - Asia Financial Holdings H1 profit rises on insurance revenue growth, lifts dividend
Aug 26 - China Financial Services Holdings swings to interim profit
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on China Merchants China Direct Investments
See all newsBrief: China Merchants China Direct Investments Says Unit To Contribute Capital To Hefei Xihe Superconducting Technology
Investment firm China Merchants swings to H1 net loss
Brief: China Merchants China Direct Investments Appoints Tsang Wai Chu As CFO
Brief: China Merchants China Direct Investments Says Unit To Contribute RMB 15 Mln To Neuracle Technology
Brief: China Merchants China Direct Investments Declares Special Interim Dividend Of $0.04 Per Share