Hotung Investment Holdings (BLS) H1 2024 earnings summary

Executive summary

• H1 2024 revenue fell to NT$91.448m from NT$334.187m and profit for the period to NT$13.947m from NT$179.233m, reflecting divestments in H1 2023 and continued write-downs of fund investments.

• Foreign currency translation gains lifted total comprehensive income to NT$158.450m, versus NT$216.053m in H1 2023.

Financial highlights

• Revenue included NT$32.1m net gains on FVTPL assets and NT$29.8m in fund investment distributions; comparable H1 2023 figures were NT$271.7m and NT$38.5m.

• Operating profit was NT$27.212m versus NT$264.219m; profit before tax was NT$27.041m versus NT$264.196m.

• Profit attributable to owners was NT$2.312m versus NT$173.652m; basic and diluted EPS were NT$0.02 versus NT$1.83.

• Operating cash flow was NT$82.983m versus NT$374.198m; cash and cash equivalents ended at NT$1,667.294m, down from NT$1,817.875m at 2023 year-end.

Outlook and guidance

• Investment strategy remains focused on mid- and long-term opportunities in sectors with growth potential.

• No dividend was declared or recommended for H1 2024 on prudential grounds.