CMBC Capital (HKG:1141) expects a net profit of between HK$45 million and HK$55 million for the year 2024, compared with a net loss of HK$572 million a year prior, a Tuesday filing by the financial services provider with the Hong Kong bourse said.
The anticipated turnaround to profit was mainly due to an increase in investment gains or losses and fair value change of its investments, a higher revenue from the investment banking fee-based business, and a lower provision for expected credit losses on its bond investments and loans and advances.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.