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RTNominal up0.950 +0.040 (+4.396%)

07/08/2019 15:21

China Huarong (02799) sees increase in interim net

[ET Net News Agency, 7 August 2019] China Huarong Asset Management Co., Ltd. (02799)
said the group is expected to record a net profit attributable to equity holders of the
company for the six months ended 30 June 2019 of not less than RMB2 billion, while the net
profit attributable to equity holders of the company for the six months ended 30 June 2018
was RMB685 million.
The increase was mainly due to (1) the increase of the valuation of certain equity-based
investment of the group affected by the rise of domestic stock markets in the first half
of 2019; (2) the group continues to deleverage and optimize debt structure, which make
both of the financing scale and interest rates decline and the interest expenses decrease;
(3) the group actively returns to the core business of distressed assets, improve the
efficiency of assets disposal, with increased income from the core business. (RC)

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