Brief: South China Financial Holdings Posts FY Aggregate Revenue Hk$204.1 Mln

South China Financial Holdings

17/03/2020 14:58

March 17 (Reuters) - South China Financial Holdings Ltd
 0619.HK :
    * FY AGGREGATE REVENUE INCREASED BY 42% TO HK$204.1 MILLION
    * FY LOSS ATTRIBUTABLE HK$77.6 MILLION VERSUS LOSS OF
HK$239.8
MILLION
    * OVERALL HEADCOUNT WAS REDUCED BY ABOUT 14% OVER YEAR DUE
TO HK
ENVIRONMENT, U.S.-CHINA TRADE TENSIONS
    * TO CONTINUE TO MONITOR COSTS CLOSELY DUE TO UNEXPECTED
COVID-19
OUTBREAK IN 2020
    * INVESTMENT BANKING BUSINESS SIGNIFICANTLY IMPACTED FROM
STAGNANT
BUSINESS ACTIVITIES BETWEEN PRC & HK IN Q1 OF 2020
    * INVESTMENT BANKING BUSINESS SIGNIFICANTLY HIT BY STAGNANT
BUSINESS ACTIVITIES BETWEEN PRC AND HK IN Q1 2020
    * DUE TO PIPELINE OF IPO APPLICATIONS SUBMITTED TO HKEX IN
2019,
EXPECTS TO COMPLETE 3 IPOS IN H1 OF 2020

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS2CKYs2
Further company coverage:  0619.HK 

 ((Reuters.Briefs@thomsonreuters.com;))