Summary by Futu AI
As of September 30, 2024, Haotian International Investment recorded revenue of 860 million Hong Kong dollars, flat with the same period last year. The loss for the period was 810 million Hong Kong dollars, slightly narrowed from 850 million Hong Kong dollars in the same period last year. The gross profit was 310 million Hong Kong dollars, slightly lower than last year's 320 million Hong Kong dollars. Management pointed out that the revenue from financial services business increased to 60 million Hong Kong dollars, mainly due to the increase in margin financing trading volume. However, the provision for impairment losses on financial assets increased to 170 million Hong Kong dollars, affecting overall profit performance. Management stated that they will continue to focus on diversifying business development, especially in the areas of financial services and property development. In the future, the company plans to expand asset management and financial services business through collaboration with industry experts to address market uncertainties and achieve long-term growth.
