Brief: China Netcom Technology Expects Group's Revenue Will Decline Significantly In Q4 Of 2019

Vala

21/01/2020 07:37

Jan 21 (Reuters) - China Netcom Technology Holdings Ltd
 8071.HK :
    * EXPECTED THAT GROUP'S REVENUE WILL DECLINE SIGNIFICANTLY
IN Q4
OF 2019
    * EXPECTED THAT GROUP'S OPERATING PERFORMANCE FOR YEAR ENDED
31
DEC 2019 WILL BE AFFECTED AND RECORD A LOSS
    * GROUP WILL ADJUST OPERATION OF FINANCIAL TECHNOLOGY
SERVICES
BUSINESS
    * THERE IS STILL NO OBVIOUS INDICATION OF RECOVERY OF
PERSONAL
CREDIT MARKET
    * CHANGES  INCLUDE REDUCTION/TERMINATION OF CERTAIN
LOSS-MAKING
BUSINESSES; LAUNCHOF SMART RETAIL BUSINESS SOON
    * SEES Q1 REVENUE, OPERATING PERFORMANCE OF FINANCIAL
TECHNOLOGY
SERVICES BUSINESS CONTINUE TO BE AFFECTED & RECORD YOY DECLINE
    * EXPECTED RESULT AS BAD DEBT LEVEL OF FINANCIAL TECH
SERVICES
BUSINESS INCREASED & REDUCED CREDIT FACILITATION VOLUME IN Q4
    * INQUIRY ON DEBT-COLLECTION AGENCIES ASSIGNED BY 51 CREDIT
CARD
INC CAUSED FLUCTUATION IN PERSONAL CREDIT MARKET, AMONG OTHERS

Source text for Eikon:  urn:newsml:reuters.com:*:nHKSbkQm0M
Further company coverage:  8071.HK 

 ((Reuters.Briefs@thomsonreuters.com;))