Yangzijiang Financial posts 80% net profit decline in H2 2022

The company posted $25.6m net profit to the firm's equity holders.

With a cautious optimistic 2023 outlook, Yangzijiang Financial’s net profit fell 80% to $25.6m in the second half (H2) of 2022 from $130.7m in H2 2021.

In a statement, the firm said it posted a 24% year-on-year decline in “profit before allowances in a transitional year as the group repositions its portfolio to maximise risk-adjusted returns for shareholders over the long term.”

The net asset value per share of $1.05 as of 31 December 2022.

For H2 2022, the group’s total income went down 9% YoY to $132.4m, because of lower interest income and dividend income.

It was partially mitigated by smaller fair value loss on financial assets versus a year ago.