China

CITIC Securities Posts Net Profit of RMB 869.64 Mln for September

Summary:

  • In a statement to the Shanghai Stock Exchange, CITIC Securities (600030.SS/6030.HK) has announced it recorded a net profit of RMB 869.64 million for September and revenue of RMB 1.9 billion.
  • CITIC Securities‘ unit in Shandong Province posted a net profit of RMB 64.06 million for September and revenue of RMB 151.05 million.
  • CITIC Securities’ fully-owned subsidiary, CITIC Big Sun Securities, posted a net profit of RMB 110,000 for September and revenue of RMB 360,000.

Why It Matters:

  • For September 2016, CITIC Securities posted a net profit of RMB 706.2 million, CITIC Securities (Shandong) posted a net profit of RMB 55.86 million, and CITIC Big Sun Securities posted a net loss of RMB 190,000.
  • For the previous month (August 2017), CITIC Securities posted a net profit of RMB 589.04 million, CITIC Securities (Shandong) posted a net profit of RMB 37 million, and CITIC Big Sun Securities posted a net loss of RMB 10,000.
  • Earlier, CITIC Securities had reported a 6.02% decrease in net profit for the first half of 2017 to RMB 4.93 billion, and a 2.95% increase in revenue to RMB 18.7 billion.