BEIJING, April 2 (Xinhua) --Industrial Securities, a brokerage firm based in south China's Fujian Province, said Tuesday that its net profits dropped more than 90 percent in 2018, a brutal year during which the benchmark Shanghai Composite Index plunged over 24 percent.
The company's net profits attributable to shareholders dropped 94.08 percent year-on-year to 135.35 million yuan (about 20 million U.S. dollars), according to the company's annual report filed to the Shanghai Stock Exchange.
Its revenue dropped 26.31 percent to 6.5 billion yuan, while total assets edged up 1.36 percent to 155.14 billion yuan.
In 2018, the benchmark Shanghai Composite Index plunged 24.59 percent, while the Shenzhen Component Index dived 34.42 percent, weighing on the performance of brokerage firms.
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