Shanghai-Listed Brokerages' Net Profit Rises Nearly 30% in First Three Quarters

Quarterly reports disclosed recently by 34 Shanghai-listed brokerages (two of which have since been delisted) show that, in the first three quarters, the group's combined revenue reached 407.98 billion yuan, up 21.88% year on year. Net profit attributable to shareholders totaled 170.14 billion yuan, up 28.72%, and net profit after deducting non-recurring items reached 168.96 billion yuan, up 34.76%. By business segment, brokerage, investment banking, asset management, margin financing and proprietary trading generated revenue of 108.49 billion yuan, 27.95 billion yuan, 31.91 billion yuan, 36.63 billion yuan and 170.06 billion yuan, respectively, up 28.22%, 28.34%, 26.77%, 43.28% and 15.68% year on year. Proprietary trading and brokerage remain the industry's main revenue sources, together accounting for nearly 70% of total revenue. (Securities Times)