StockNews.AI
HKD
StockNews.AI
188 days

AMTD's Strategic Investment - Bank of Qingdao Enjoyed Solid 2024 Financial Performance

1. Bank of Qingdao reported a 20.16% profit increase for 2024. 2. Total assets rose by 13.48%, indicating strong growth. 3. Non-performing loan ratio declined to 1.14%, showcasing improved efficiency. 4. AMTD holds 16.04% of Bank’s H-shares, enhancing investor confidence.

5m saved
Insight
Article

FAQ

Why Bullish?

Bank's improved financials suggest positive outlook for AMTD, potentially raising HKD valuation.

How important is it?

The financial performance of Bank of Qingdao directly influences AMTD's stock worth.

Why Short Term?

Immediate results could influence investor sentiment; similar past reports bolstered HKD prices.

Related Companies

HKDAMTDBQD
PARIS & NEW YORK--(BUSINESS WIRE)--AMTD Digital Inc. (NYSE: HKD) ("AMTD"), and World Media and Entertainment Universal Inc. ("WME"), jointly announced that Bank of Qingdao Co., Ltd. (“Bank of Qingdao” or the “Bank”), a strategic investment of AMTD, reported its preliminary annual results for 2024, demonstrating significant improvements in operational efficiency and profitability. Bank of Qingdao reported significant growth in its key financial metrics for 2024 compared to 2023, highlighting a 20.16% increase in net profit attributable to shareholders, a 13.48% rise in total assets, and a two-year consecutive decline in the non-performing loan ratio to 1.14%. The Bank's effective execution of the '14th Five Year Plan' and its commitment to high-quality development have strengthened its market position, demonstrating a strong performance in a critical year for achieving its strategic objectives. As of the date of the announcement, AMTD, through WME, holds 367,675,000 H-shares of the Bank, accounting for approximately 16.04% of the total number of H-shares issued and 6.32% of the total ordinary share capital of the Bank. About AMTD Group AMTD Group is a conglomerate with core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality areas. About AMTD Digital Inc. AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, digital investments as well as hospitality and VIP services. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news. About World Media and Entertainment World Media and Entertainment, jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide. WME comprises L’Officiel, The Art Newspaper, movie and entertainment projects, collectively a diversified media and entertainment portfolio of global businesses, and a global portfolio of premium properties. Safe Harbor Statement This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD Digital Inc. are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD Digital Inc. with the SEC. All information provided in this press release is as of the date of this press release, and AMTD Digital Inc. does not undertake any obligation to update any forward looking statement, except as required under applicable law.

Related News