KINGKEY FIN INT announced the results for the six months ended September 30, 2024. During the period, a profit of 2.4 million Hong Kong dollars was recorded, compared to 66.5 million Hong Kong dollars for the same period last year. Revenue decreased by 47.1% from 264.7 million Hong Kong dollars to 140 million Hong Kong dollars. The Securities and Insurance business performed solidly, contributing revenues of 10 million Hong Kong dollars and 52.3 million Hong Kong dollars, respectively.Administrative expenses rose by 12.2% to 63.6 million Hong Kong dollars, mainly due to increased legal fees related to compensation negotiations with the Danish government regarding the fur business. Financing costs decreased by 27.0% to 4.6 million Hong Kong dollars, primarily due to reduced borrowings from Banks and Other sources. Two placements were completed during...Show More

KINGKEY FIN INT announced the results for the six months ended September 30, 2024. During the period, a profit of 2.4 million Hong Kong dollars was recorded, compared to 66.5 million Hong Kong dollars for the same period last year. Revenue decreased by 47.1% from 264.7 million Hong Kong dollars to 140 million Hong Kong dollars. The Securities and Insurance business performed solidly, contributing revenues of 10 million Hong Kong dollars and 52.3 million Hong Kong dollars, respectively.Administrative expenses rose by 12.2% to 63.6 million Hong Kong dollars, mainly due to increased legal fees related to compensation negotiations with the Danish government regarding the fur business. Financing costs decreased by 27.0% to 4.6 million Hong Kong dollars, primarily due to reduced borrowings from Banks and Other sources. Two placements were completed during the period to avoid high-interest financing.The company is actively adjusting its business strategy and plans to invest more resources in the Securities and Asset Management business. At the same time, a 4.3 million Swiss Franc acquisition is underway to expand its business scope. Management stated that despite the uncertainty in the Global economy, there have been positive signals in the Hong Kong and China economies recently, and the company will closely monitor market opportunities while committing to business diversification and long-term sustainable development.