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Industry

China's listed brokerages report upbeat performance in first three quarters

November 01, 2019


Abstract : China's brokerages listed on the country's mainland market posted steady revenue and profit expansions in the first three quarters of this year.

BEIJING, Oct. 31 (Xinhua) -- China's brokerages listed on the country's mainland market posted steady revenue and profit expansions in the first three quarters of this year.

Combined operating revenues of the 36 listed securities traders reached 274.46 billion yuan (about 38.91 billion U.S. dollars) in the first nine months, up 47.5 percent year on year, according to their filings to stock exchanges.

The firms' total net profit jumped 65 percent year on year to 79.73 billion yuan during the period.

Revenue and net profit of the 36 firms saw faster growth than those in the same period of the previous two years.

The firms' combined net profit stood at 24.31 billion yuan in Q3, with 15 firms seeing their net profits more than doubled.

From July to September 2019, CITIC Securities garnered the greatest earnings, recording around 4.08 billion yuan of net profit, followed by Huatai Securities.

Top brokerages contributed to the major part of the profit of the industry, while A-share listed firms' initial public offerings on the science and technology innovation board brought new impetus to securities firms.


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