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CITIC Securities posts surge in first-half profits

Abstract : CITIC Securities, one of China's leading brokerage companies, on Wednesday reported soaring profits for the first half of the year amid a vibrant domestic stock market.

BEIJING, July 29 (Xinhua) — CITIC Securities, one of China’s leading brokerage companies, on Wednesday reported soaring profits for the first half of the year amid a vibrant domestic stock market.

Profits surged by 38.47 percent from a year ago to reach 8.93 billion yuan (about 1.3 billion U.S. dollars) during the period, while revenues jumped by 22.72 percent year on year to 26.74 billion yuan, according to a statement the company filed with the Shanghai Stock Exchange.

Buoyed by an army of individual investors looking for quick returns, China’s stock market euphoria has been apparent over the past few months, driving brokerages’ business volumes up.

CITIC Securities rose by 4.82 percent to close at 29.77 yuan per share on Wednesday. Enditem

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Source: CITIC Securities posts surge in first-half profits

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