久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Economy

Markets

Industries

Insights

Reports

Events

Northeast Securities sees plummet in underwriting income

By Zhang Jiawei (chinadaily.com.cn)
Updated: 2009-07-29 11:58

Northeast Securities, a Jilin-based securities dealer, has seen its initial public offering (IPO) underwriting income plunge by 90.48 percent year-on-year to 4.35 million yuan ($636,803) in the first half of this year, the Securities Daily reported, citing the dealer's interim statement released Monday.

The fall comes amid the mainland's almost stagnant IPO market in the first several months this year.

The dealer's operating revenue reached 950 million yuan in the first half of 2009, up 33.06 percent compared with the previous year. Its net profit was 476 million yuan, up 38.76 percent year-on-year, the statement showed.

In the first half of this year, Northeast Securities' stock brokerage revenue rose 8.23 percent year-on-year to 662 million yuan. While return on securities investment reached 226 million yuan, compared with a loss of 17.03 million yuan in the same period in 2008.

Related readings:  Northeast Securities plans 15b yuan share placement  Everbright Securities gets IPO green light  Minzu, Goldstate Securities to merge for IPO  Merchants Securities applies for IPO

The dealer's underwriting business, however, stayed almost stagnant for the first half of the year.

According to information posted on the China Securities Regulatory Commission's (CSRC) website, more than 30 companies received approval to list on the mainland's stock market before the regulator resumed IPO last month.

Another eight companies got the CSRC's green light to be listed on the A-share market after IPO resumption, including Guilin Sanjin Pharmaceutical, Zhejiang Wanma Cable and Hunan-based retailer Your-Mart.

Northeast Securities, however, failed to take a share as the underwriter of the companies above.

The dealer has been trying to expand its capital in a bid to be granted qualification to conduct new businesses like IB (Introducing Broker) and private equity investment, which are currently out of its reach due to a relatively low capitalization.