Yueda International Holdings (00629) announced its results for the year ended December 31, 2023. The group will take...
According to the Zhitong Finance App, Yueda International Holdings (00629) announced the results for the year ended December 31, 2023. The group achieved revenue of 884.87 million yuan (RMB, same below) during the period, a year-on-year decrease of 13.77%; profit attributable to shareholders of 15.192 million yuan, a year-on-year decrease of 50.26%; basic profit per share of 1.3 points; and proposed a final dividend of HK0.43 cents per share.
According to the announcement, the decrease in profit and total overall revenue was mainly due to the poor recovery of the Chinese consumer market. In order to reduce operating risks, the Group adjusted the share of different factoring-related businesses, which led to: while revenue from traditional factoring business increased, revenue generated by communication factoring business decreased; obtaining financial guarantee contracts to recalculate losses in the previous year, which was a profit; obtaining net reimbursement of impairment losses under the expected credit loss model in the current year, which was confirmed as net loss; and income tax expenses were reduced in the previous year.