Haitong Securities Co (HK:6837) has released an update.
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Haitong Securities Co., a major player in the Chinese financial sector, announced substantial asset impairments totaling RMB859.57 million for the third quarter of 2024. The company attributed these losses to credit impairments and other asset devaluations across various financial instruments, significantly impacting their earnings. This move reflects Haitong’s efforts to address credit risks and optimize asset management amid changing market conditions.
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