2023-09-08 15:14:16
Development Financial Holdings announced its self-financing figures today (8th) evening. The profits of life insurance and development capital increased. However, due to the decline of more than 30% in banks and securities, development finance only earned 1.617 billion yuan after tax in August, with a cumulative profit of 1.617 billion yuan per share. Net profit after tax (EPS) was 0.92 yuan.
According to the development fund announcement, the net profit after tax in August was 1.617 billion yuan, a year-on-year decrease of 10.3%. The after-tax net profit in the first eight months was 15.42 billion yuan, a year-on-year decrease of 17.1%. Among the four main subsidiaries, two had profit growth and two Family decline can be described as two good things and two bad things.
As for China Life, the core subsidiary, the net profit after tax in August was 1.503 billion yuan, an annual increase of 12.3%. The after-tax net profit in the first eight months was 9.135 billion yuan, a year-on-year decrease of 45.9%.
Development Gold stated that China Life’s profit growth in August was mainly due to the sharp depreciation of the New Taiwan dollar by 4.24 cents against the U.S. dollar in August. China Life had exchange benefits. In addition, China Life also realized capital gains in a timely manner, which helped its profit performance.
China Development Capital, another subsidiary of Development Capital, had an after-tax net loss of only 46 million yuan in August due to the fluctuations in the capital market. However, compared with August last year, it had a net loss after tax of 64 million yuan, which still showed growth; the first eight The monthly net profit after tax was 1.65 billion yuan, which was also better than the net loss after tax of 984 million yuan in the same period last year.
In terms of bank subsidiaries, KGI Bank’s net profit after tax in August was 401 million yuan, a year-on-year decrease of 38.8%. In the first eight months, after-tax net profit was 3.838 billion yuan, a year-on-year decrease of 8.8%. Both single-month and cumulative profits showed decline.
In terms of securities subsidiaries, KGI Securities’ after-tax net profit in August was 300 million yuan, a year-on-year decrease of 32.0%. The after-tax net profit in the first eight months was 5.128 billion yuan, a year-on-year increase of 97.1%.
The profit momentum of KGI Securities in August was lower than the average in the previous eight months. Due to the volatile capital market trend in August, the trading volume of Taiwan stocks was reduced, which suppressed the profit contribution of related businesses.
Development Bank stated that the global economic outlook is not yet clear, and Development Finance will focus on long-term and stable development, continue to focus on the implementation of core strategies, and implement risk control mechanisms.
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