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Loeb & Loeb has been terminated by at least 60 companies in the past six months.
According to the internal media report, between March 18th and September 13th, PwC (commonly known as PricewaterhouseCoopers) has been terminated by at least 60 companies due to the Evergrande auditing controversy. Among them, there are 36 A-share listed companies, 7 HK-listed companies, 16 fund companies, and 1 non-listed company. Ernst & Young has taken over 15 PwC clients, including China Cinda (01359.HK), Cosmo Lady (02298.HK), Tong Ren Tang Technology (01666.HK), and Tong Ren Tang Chinese Medicines (03613.HK). Clients such as China Taiping (00966.HK) have been taken over by KPMG.
China Cinda Asset Management's H1 Profit Falls; Shares Slide 3%
Dah Sing has lowered the target price of China Cinda (01359.HK) to 0.69 yuan, facing short-term profit pressure.
China Cinda (01359.HK) released a report stating that the first half year revenue of China Cinda increased by 2.3% year-on-year, while the net profit decreased by 47% year-on-year; in line with market expectations, and basically consistent with the previous profit warning, the year-on-year decline in profit is mainly due to the increase in provisions. The company actively responds to current industry pressures, proactively optimizes the asset-liability structure, explores business development with light capital, continues to promote digital cinda construction, and effectively expands the business model transformation and upgrade. The report indicates that considering the short-term industry pressure on asset quality, China Cinda has lowered its full-year net profit forecast to 16% to 4.7 billion RMB, and lowered the 2025 net profit forecast.
HK Stocks | China Cinda (01359) drops more than 3% after results announcement, shareholders' attributable net profits for the first half of the year were approximately 2.156 billion yuan, a decrease of 47% year-on-year.
China Cinda (01359) fell by more than 3% after the performance, as of the time of publication, it fell by 3.13% to 0.62 Hong Kong dollars, with a turnover of 8.8369 million Hong Kong dollars.
China Cinda (01359.HK): Accelerating the promotion of business transformation and upgrading.
1H24 performance basically meets market expectations. China Cinda announced its 1H24 performance: a 2.3% year-on-year increase in revenue, and a 47% year-on-year decrease in net income attributable to the parent; in line with market expectations, and basically consistent with the previous profit warning, profit the same.
Hong Kong stock opportunities tracking | The dual-primary listing of Alibaba-W on the Hong Kong Stock Exchange will take effect today; JD.com announced a $5 billion share buyback plan.
Anta's revenue in the first half of the year increased by 13.8% year-on-year, planning to spend billions of Hong Kong dollars for buybacks; Haidilao's revenue in the first half of the year was approximately 21.491 billion yuan, a year-on-year increase of 13.79%; Five departments issued a joint notice to improve the policy of duty-free shops in the city.
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