HAITONG UT(01905) releases 2024 interim performance report, with a profit of 1.513 billion yuan, a decrease of 5.9% year-on-year.

HAITONG UT (01905) released its unaudited financial results for the year ending December 31, 2024, with revenue of 8.855 billion yuan (RMB, the same below), a decrease of 0.7% year-on-year; annual profit of 1.513 billion yuan, a decrease of 5.9% year-on-year. In 2024, the group focused on serving the national strategic main line, based on leasing origins, adhering to the fundamental purpose of serving the real economy with financial services, continuously deepening industrial transformation, focusing deeply on the "Five Major Areas" of finance, and continuously enhancing its ability to serve the real economy. As of the end of the fiscal year ending December 31, 2024, the group achieved total income and other revenues of 8.855 billion yuan and an annual profit of 1.513 billion yuan. The annual profit slightly decreased from the previous year, mainly due to the complex and volatile domestic and international economic environment, inadequate external demand, a decrease in the average balance of accounts receivable for the financing lease business, and fierce market competition.The group continued to optimize asset allocation, enhance customer levels, and the net interest margin decreased slightly; as of December 31, 2024, the total assets of the group were 111.297 billion yuan, and the total equity was 19.983 billion yuan.