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BIZCHINA / Top Biz News |
Citic Securities net profit likely to rise 550% in 1st half(Xinhua)
Updated: 2007-07-24 13:50 China's Citic Securities said Tuesday its net profit is likely to soar by more than 5.5 times in the first half of the year from a year earlier. The nation's largest listed brokerage said in a statement to the Shanghai Stock Exchange that the heavy transactions on the booming stock market have resulted in huge increases in its turnover. Citic Securities' net profit hit 627.6 million yuan (US$82.9 million), or 0.21 yuan per share, in the first six month of last year. By last Friday, 50 securities brokerages, half of the nation's total, have announced their interim earnings. Their combined interim earnings surged 411 percent year-on-year to 41.77 billion yuan (US$5.5 billion) in the first six months, the Shanghai Securities News reported on Saturday. First half net income of the Shanghai-based Guotai Junan Securities hit 3.92 billion yuan (US$517.7 million), the largest among the 50 firms, followed by 3.14 billion yuan of Guangfa Securities and 2.98 billion yuan of Shenyin Wanguo Securities. |
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