Haitong Securities (SHA:600837, HKG:6837) forecasts it will swing to an attributable loss of about 3.40 billion yuan in 2024 from an attributable profit of 1.01 billion yuan in 2023, according to a Friday filing with the Hong Kong exchange.
The downbeat forecast is attributable to a decline in the valuation of its overseas financial assets, as well as a fall in investment income and equity financing scale in the domestic market, the filing said.
Revenue from its investment banking business also decreased during the period.
Shares fell 2% in Shanghai during Monday's trading.
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.