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Orient Securities Announces Major Asset Impairment
Company Announcements

Orient Securities Announces Major Asset Impairment

Orient Securities Co., Ltd. Class H (HK:3958) has released an update.

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Orient Securities Co., Ltd. Class H has announced a substantial provision for assets impairment of RMB311.0233 million for the first half of 2024, a figure that represents over 10% of the firm’s audited net profit for the previous financial year. The impairment provisions cover a range of financial assets, including those held under resale agreements, margin accounts, debt investments, and long-term equity investments. This move is intended to accurately reflect the company’s financial position and operating performance, in line with China Accounting Standards for Business Enterprises (CASBE).

For further insights into HK:3958 stock, check out TipRanks’ Stock Analysis page.

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