CITIC Securities Posts Net Profit of RMB 278 Mln for January



  • CITIC Securities (600030.SS/6030.HK) recently reported its unconsolidated financial statements for January 2016 to the Shanghai Stock Exchange in which it declared a net profit solely from the parent company, CITIC Securities, of RMB 277.6 million for the month, compared with a net loss of RMB 608 million for January 2016.


  • Revenue of CITIC Securities (the parent company) for January was nearly RMB 948.36 million compared with RMB 130.3 million for January 2016.


  • CITIC Securities also reported the January figures for a number of its subsidiaries including CITIC Securities (Shandong) Co. which posted revenue of RMB 70 million and a net loss of RMB 16 million. Another subsidiary, CITIC Big Sun Securities, posted revenue of RMB 300,000 and a net loss of RMB 10,000.


Why It Matters:

  • CITIC Securities previously forecast that its net profit for 2016 would decrease 47% to RMB 10.3 billion, and revenue was expected to fall 32% to RMB 38 billion.


  • According to the latest data from 10jqka, the consensus estimate of Chinese analysts for CITIC Securities‘ consolidated net profit in 2016 is RMB 11.44 billion, down 42% from the previous year.