Phoenix New Media Hong Kong shares | Cinda International Holdings (00111) announced that the Group expects the consolidated after-tax profit attributable to corporate equity holders in 2021 to decrease by between 30% and 40% compared with the same period last year.
According to the announcement, the decrease in profit was mainly due to deteriorating investment market conditions, particularly losses resulting from the sale of certain notes / debt instruments held by the company for investment purposes in the fourth quarter of 2021, and the net impairment provision related to the company's holding of the remaining notes / debt investments.