宏利金融(945.HK)(下稱：宏利)Q2業績強差人意，虧損23.8億(加元，下同)或每股$1.36，以港元計虧損10元。
股價由8月5日收市的HK$123.8下跌HK$30.95或25%至今日的HK$92.85。
管理層解釋宏利虧損的主要原因：
……During the quarter, net results were impacted as equity markets retreated globally and interest rates declined materially, particularly in the U.S. Non-cash charges related to equity market declines in the quarter amounted to $1.7 billion. Non-cash charges related to lower interest rates amounted to $1.5 billion in the quarter……
宏利的虧損主要因為非現金支出，這是因為精算假設和實際情況偏差做成。未來宏利未來可能會大賺，原因同樣為非現金收入，因此，我們無須為現在的虧損而擔心，亦無須為將來的扭虧而歡喜若狂。
當這兩項經調整之後，Q2經營溢利是6.6億。
披露：
我持有宏利控股。
(待續)