China's leading securities dealer, CITIC Securities, saw its net
profits soar 12 times year on year to 1.2 billion yuan (US$154
million) in the first quarter this year.
Earnings per share are estimated at 0.41 yuan. The largest
Chinese securities company in terms of assets has a total of nearly
3 billion shares.
China's secondary securities market registered total turnover of
8.63 trillion yuan in the first quarter this year, compared with
nine trillion yuan for the whole of last year, according to the
Shanghai Securities News.
It is estimated that the country's securities dealers racked up
a total of 17.3 billion yuan in commission income in the first
three months.
CITIC Securities, founded in 1995, was the first securities
dealer in China to launch an initial public offering in 2003 when
it was listed on the Shanghai Stock Exchange.
(Xinhua News Agency April 9, 2007)