Haitong Securities Reports Major Asset Impairment

Haitong Securities Co (HK:6837) has released an update.

Haitong Securities Co., Ltd. has announced significant provisions for asset impairment, amounting to RMB624.5814 million for April to June 2024, which is over 10% of their audited net profit for 2023. The company conducted a preliminary assessment on assets, leading to the write-off of unrecoverable assets, which includes credit impairment losses and other asset impairment losses based on factors such as credit risk and recoverability.

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