Changes in Hong Kong stocks | Minsheng Bank (01988) fell nearly 5% in early trading, and the company prudently and actively confirmed the risk that net profit fell 33% year-on-year in the third quarter

The Zhitong Finance App learned that Minsheng Bank (01988) fell nearly 5% in early trading. As of press release, it fell 4.72% to HK$3.03, with a turnover of HK$94.6035 million.

According to the news, Minsheng Bank announced its results. The first three quarters achieved operating income of 110.554 billion yuan, a slight increase of 1.88% year on year; net profit to mother was 24.323 billion yuan, down 14.78% year on year. Looking at the third quarter alone, revenue was 35.388 billion yuan, down 2.04% year on year, and net profit to mother was only 4.786 billion yuan, down 33.18% year on year and 40% month on month.

CICC said that Minsheng Bank's profit for the third quarter fell short of expectations, mainly due to the company's careful confirmation and increased efforts to dispose of non-performing assets. The bank believes that the company's careful and proactive identification of adverse risks is beneficial to improving the security of statements in the medium to long term. It is recommended to pay attention to the trend and potential inflection point of subsequent bad net generation rates.