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BEIJING/SHANGHAI, March 28 (Reuters) – CITIC Securities Co (600030.SS), , China’s biggest brokerage, reported on Monday a 55.01% rise in profit in 2021, led by strong gains in securities investments.
Net profit for the 12 months ended December rose to 23.1 billion yuan ($3.6 billion) from 14.9 billion yuan a year earlier, on the strength of investments, the company said in a stock exchange filing.
CITIC’s revenue generated from stock investment jumped by 37.14% to 18.4 billion yuan, while asset management fees rose by around 41.35% to 13.5 billion yuan, the annual report showed.
The net profit results are largely in line with the preliminary results released in January.
“The capital market is booming,” said the preliminary report.
“In 2021, the company invested in banks, asset management projects which steadily grew,” the company added.
China’s brokerages earned 191.12 billion yuan in net profit in 2021, up 21.32%, while their revenue rose by 12.03%, Securities Association of China data show.
CITIC shares in Hong Kong closed down 0.34% on Monday at HK$17.5 prior to the results being announced, compared with a 1.31% rise in the broader market (.HSI)
($1 = 6.3607 Chinese yuan renminbi)
Reporting by Engen Tham and Zhang Yan in Shanghai
Editing by Edmund Blair and Mark Potter
Our Standards: The Thomson Reuters Trust Principles.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
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