870,000 shareholders look over! Development Financial Holdings (2883) announced today (11th) its self-accounted profit in November. While other life insurance financial holding companies suffered significant losses, Development Financial Holdings’ profit after tax in November was 29 million yuan, and it can still maintain a small profit. , to avoid falling into a loss dilemma, mainly because its subsidiary China Life has fewer overseas positions, with a single-month loss of only 1.1 billion yuan, and the financial holding company has not been significantly dragged down. Therefore, the development fund’s cumulative after-tax profit in the first 11 months of this year was 18.861 billion yuan, an increase of 4.84 %, earnings per share were 1.13 yuan.
Development Financial Holdings stated that its subsidiary China Life was affected by the appreciation of the Taiwan dollar against the U.S. dollar, which increased overall hedging costs. It suffered a single-month after-tax loss of 1.13 billion yuan in November, and the cumulative after-tax net profit in the first 11 months of this year was 11.287 billion yuan. China Life will continue to improve its product and asset allocation structure and maintain long-term stable operations to respond to market fluctuations. In the same month last year, China Life lost more than 3.2 billion yuan, and the cumulative loss was 15.4 billion yuan, so the year-on-year decrease was about 26%.
In terms of securities subsidiaries, Kaifa Jin said that in November, Taiwan stock volume increased and prices rose, boosting the profit performance of KGI Securities’ brokerage, proprietary, underwriting and other businesses; KGI Securities’ single-month after-tax profit was 837 million yuan. The cumulative after-tax profit in the first 11 months of this year was 6.531 billion yuan, an increase of approximately 104% compared to the same period last year.
In addition, in terms of banking, KGI Bank continues to maintain a stable overall business, which contributes to the contribution of core income such as interest and fee income. In November, the single-month after-tax profit was 334 million yuan, and the cumulative after-tax profit in the first 11 months of this year was 5.044 billion yuan. yuan, slightly lower than the 5.449 billion yuan in the same period last year.
China Development Capital benefited from the performance of favorable investment positions due to the rising capital market. The after-tax profit for the single month in November was 330 million yuan, and the cumulative after-tax profit for the first 11 months of this year was 1.66 billion yuan; compared with the same period last year, operating losses were For profit. Development Financial Holdings stated that it will continue to implement risk control mechanisms to reduce operational risks, and focus on executing core strategies to maintain long-term stable operating development.
Yahoo Finance special correspondent Ye Yiru: 22 years of experience in mainstream financial media. From the Web1.0 bubble in 2000 to the Meta Yuanverse Web3.0, he has witnessed the rise and fall of Taiwan’s large and small enterprise groups and has experienced five international financial crises. We believe that finance is life and is everywhere. No matter how difficult financial knowledge is, we should explain it in a simple way. Everyone, young and old, should manage money. If you don’t manage money, money will not care about you.
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