There are two main reasons why Yushan Gold fell into recession in the first 4 months of EPS0.36

Yushan Gold (2884) announced this (9) afternoon that the net profit after tax settlement for April this year (2022) was 548 million yuan, an annual decrease of 70%, and the net profit after tax settlement from January to April was 4.86 billion yuan, a decline from last year 31.1%, EPS was 0.36 yuan, and its four major subsidiaries were all in recession. The company explained that there are two major reasons.

Yushan Gold has been included in the Dow Jones Sustainability Index for 3 consecutive years (Figure)

Yushan Gold’s net profit after tax in April was 548 million yuan, a decrease of 63% from the 1.512 billion yuan in March, and a decrease of about 70% from the same month last year. In terms of accumulation, the net profit after tax settlement from January to April was 4.86 billion yuan, a decrease of 31.1% over the same period last year, and the EPS was 0.36 yuan. All four of its four subsidiaries were in recession.

Observing the profit performance of Yushan Gold’s subsidiaries in April, its main subsidiary Yushan Bank’s net profit after tax settlement in a single month was 693 million yuan, a 46% decline from 1.298 billion yuan in March; the cumulative January to April The net profit after tax was 4.36 billion yuan, a decrease of nearly 28% from the 6.048 billion yuan in the same period last year.

Yushan Securities’ accumulated after-tax net profit from January to April this year was 360 million yuan, a decrease of 41% from 617 million yuan in the same period last year; Yushan Ventures’ accumulated after-tax net profit in the first four months was 250 million yuan, a 50% annual reduction.

The company explained the two main reasons for the recession: financial market volatility and increased withdrawals

Regarding the reason for the profit decline, Yushan Gold Company explained that it was because the financial market fluctuated greatly in April, which affected the evaluation of bond and stock investment. In addition, the domestic economy was developing steadily, and the demand for funds led to a substantial growth in lending, and the corresponding withdrawal amount also increased. More, only the United States and Taiwan’s central bank will raise interest rates to help increase the spread, and the interest income from lending will gradually appear.

Facing changes in the external environment, Yushan focuses on domestic and overseas layout, technological innovation and risk management, and integrates ESG with the financial industry to promote steady business development. (Review: Lu Junyi)

Further reading

Fubon Gold continues to be the top financial holding company with an EPS of 5.17 yuan in the first four months of the announcement today

Four financial holdings made profits in the first four months, only one of Yongfeng Gold has grown

[Hot Taiwan Stocks]Net sigh financial stocks are dying? Expert: This week will usher in the best buys!

• Yahoo Finance correspondent Ye Yiru: 22 years of experience in mainstream financial media, from the bubble of Web 1.0 in 2000 to Web 3.0 of Meta, witnessing the rise and fall of large and small enterprise groups in Taiwan, and going through 5 international financial crises. I think that finance is life, and it is everywhere. No matter how difficult it is, financial knowledge should be said plainly. Whether you are old or young, you should manage your money. If you don’t manage your money, your money will ignore you.

• Yahoo stock market app download: Instantly watch orders, price notices, latest market trends and financial news!