Rongzhong Finance (03963) announced interim results for the six months ended September 30, 2023, with a profit of 4919...
According to the Zhitong Finance App, Rongzhong Finance (03963) announced interim results for the six months ended September 30, 2023. Revenue was HK$49.197 million, up 8.1% year on year; loss attributable to company owners was HK$1,232,000, a year-on-year narrowing of 94.71%; loss per share was HK$0.29 cents.
According to the announcement, the increase in revenue is mainly due to the Group's effective implementation of the strategic layout, expansion of new business locations, and the beginning of processing loans with more current assets and generally smaller loan sizes, thereby reducing credit risk as much as possible while increasing leasing business. The reduction in losses was mainly due to impairment losses and a reduction in anticipated credit loss provisions.