BUSINESS Nearly half of listed brokerage firms see profit up in January

BUSINESS

Nearly half of listed brokerage firms see profit up in January

Xinhua

16:25, February 19, 2019

BEIJING, Feb. 19 (Xinhua) -- Nearly half of China's listed brokerage firms saw their net profits rise in January compared to the same period last year, the China Securities Journal reported Tuesday.

VCG111188422032.jpg

(Photo: VCG)

In January this year, 15 of the 35 A-share listed brokerage firms registered a growth of the net profits, according to the paper.

Total net profit of the 35 firms stood at 6.12 billion yuan (about 905 million U.S. dollars), edging down 2.4 percent year on year.

Meanwhile, the firms' revenue increased by 2.04 percent from the same period last year, amounting to 17.1 billion yuan.

Among the 15 firms reporting a profit growth in the month, CITIC Securities, one of China's leading brokerage firms, topped the ranking with a profit of 741 million yuan.

The firms are expected to benefit from China's rebounding A-share market in terms of profit growth, the paper added.

Sun Ting, an analyst with Haitong Securities, said brokerage firms would accelerate transformation while consolidating current business.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue