Zhitong Financial App News, Minxin Group (00222) released its interim results for 2023, with total revenue of HK $109 million, an increase of 12.2% over the same period last year; net profit of HK $115.5 million, down 51.8% from the same period last year; and basic profit per share of HK19.34 cents.
During the period, the profit attributable to the shareholders of the company decreased by 51.8% compared with the same period last year, mainly due to the combined effects of the decline in the profit attributable to the shareholders of Xiamen International Bank Co., Ltd. (Xiamen Bank) and the depreciation of the exchange rate of RMB against the Hong Kong dollar. As a result, the performance of Bank of Xiamen in the six months ended June 30, 2023 decreased compared with the same period in 2022. And the company's stake in Bank of Xiamen was diluted from about 8.8543% to about 8.689% in March 2023, confirming an one-time diluted loss.