Summary by Futu AI
Value Partners announced its interim results on June 30, 2024, showing a 14.8% decrease in total revenue compared to the same period last year, to HKD 235.7 million. The total amount of management fees also decreased by 18.3% to HKD 200.8 million. However, the company's profit attributable to owners increased significantly by 663.3% to HKD 37.4 million, with both basic and diluted earnings per share up by 566.7% to 2.0 Hong Kong cents. No interim dividend was distributed during the period. Value Partners indicated that while global investors remain cautious, there has been improvement in Asian markets, particularly in China, where signs of economic recovery and market reforms have attracted more positive attention from investors. Value Partners' assets under management slightly declined to USD 5.4 billion, mainly affected by some investors' risk-averse mentality towards risky assets. The company continues to implement strict cost control measures and invest in key strategic growth areas. The board of directors did not recommend the distribution of interim dividends and will continue to focus on Asian investments to capture regional growth opportunities.