Yangzijiang Financial falls 14.5% to 2-year low on expected reversal into red

[SINGAPORE] Yangzijiang Financial shares fell on Thursday (Feb 26) morning on news of the group’s expected loss for its second half and full year.

As at 9.18 am, the counter dropped as low as S$0.295, 14.5 per cent or S$0.05 below its latest closing price on Wednesday of S$0.345, with close to 25.5 million shares changing hands. This marked its lowest price in more than two years, as it last traded below this price in October 2023.

The company on Wednesday said it expects to post a loss for its second half and full fiscal year. This would mark a reversal into the red from its FY2024 net profit.

The projected declines were attributed to the recognition of substantial credit loss allowances, after a “comprehensive review” of the group’s debt investment portfolio.