First Tractor Recognizes 96 Million Yuan Fair-Value Loss on Financial Assets

MT Newswires Live08-26 14:16

First Tractor (HKG:0038, SHA:601038) expects a 95.8 million reduction in first-half 2026 total profit from fair-value changes in financial assets.

The adjustment mainly reflects changes in the value of its controlling subsidiary's 6.875% stake in Luoyin Financial Leasing and 0.8827% stake in Zhongyuan Bank, both classified as trading financial assets, according to a Tuesday Hong Kong bourse filing. A third-party valuation put the total fair-value adjustment at about 95.8 million yuan.

The adjustment is non-recurring and will not affect net profit attributable to shareholders after excluding non-recurring items, the company said in the filing.

Hong Kong-listed shares of the company jumped nearly 8% in recent trade.

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