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Yangzijiang Financial posts 80% net profit decline in H2 2022
The company posted $25.6m net profit to the firm's equity holders.
With a cautious optimistic 2023 outlook, Yangzijiang Financial’s net profit fell 80% to $25.6m in the second half (H2) of 2022 from $130.7m in H2 2021.
In a statement, the firm said it posted a 24% year-on-year decline in “profit before allowances in a transitional year as the group repositions its portfolio to maximise risk-adjusted returns for shareholders over the long term.”
The net asset value per share of $1.05 as of 31 December 2022.
For H2 2022, the group’s total income went down 9% YoY to $132.4m, because of lower interest income and dividend income.
It was partially mitigated by smaller fair value loss on financial assets versus a year ago.
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