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