Mega Financial Holding demonstrates financial strength with a noteworthy after-tax surplus of 2.348 billion yuan in November, propelling the cumulative 11-month profit to an impressive 31.174 billion yuan. This substantial increase of 18.179 billion yuan compared to the same period last year translates to an EPS of 2.22 yuan, reflecting Mega Financial’s robust performance in the market. Notably, Mega Financial earns the distinction of being selected for inclusion in the 2023 Dow Jones Sustainability Index (DJSI) “Emerging Markets Indices” and “World Indices” for the second consecutive year, a testament to its commitment to sustainability and corporate responsibility.
Despite its overall success, Mega Financial faces challenges in its subsidiary, Mega Property & Casualty Insurance. Ongoing negotiations with Hannover Re, particularly in the context of anti-epidemic insurance, have yet to yield results. The subsidiary reported a monthly loss of 3 million yuan in November, contributing to an accumulated after-tax loss of 1.526 billion yuan for the first 11 months.
On a positive note, Mega Securities reaps the benefits of an active stock market, reporting a single-month after-tax profit of 301 million yuan in November, and an accumulated profit of 1.727 billion yuan over the previous 11 months, marking a remarkable 217% annual increase. Mega Bank also contributes to Mega Financial Holdings’ success, achieving an after-tax profit of 29.423 billion yuan in the first 11 months, reflecting a substantial annual increase of 35%.
