Haitong Unitrust's 2024 profit declines amid economic headwinds

Haitong Unitrust International Financial Leasing Co., Ltd. (HKEX: 1905) announced preliminary financial data for the year ended December 31, 2024, revealing a profit of RMB 1,512.9 million, a 5.9% decrease compared to the RMB 1,607.5 million reported in 2023. The decline is attributed to insufficient external demand due to complex economic conditions and a decrease in the average present value of receivables from finance lease business. Total revenue and other income/gains decreased slightly to RMB 8,854.7 million from RMB 8,913.0 million the previous year. As of December 31, 2024, the company's total assets stood at RMB 111,296.8 million, and total equity was RMB 19,983.0 million. The company noted it remained focused on serving the real economy amidst these challenges.