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CITIC Securities sees profit down 23.7% MOM in Feb

Mar. 7, 2012 (China Knowledge) - CITIC Securities Co<600030><6030>, China's largest securities firm by market value, has posted RMB 156 million-net profit for February, reflecting a sequential decline of 23.7%, sources reported.

Operating revenue for last month also decreased 17.7% month on month to RMB 430 million.

As of Feb. 30, 2011, the Shanghai and Hong Kong-listed securities firm had RMB 75.04 billion in net asset.

CITIC Securities (Zhejiang) Co and CITIC Wantong Securities Co, both controlled by CITIC Securities, reaped RMB 24.51 million and RMB 21.56 million in net profits last month, respectively.

In January, CITIC Securities, along with other two branches, earned a combined RMB 199 million in net profit. But CITIC Securities (Zhejiang) suffered a net loss of RMB 13.11 million in the month.

As of Mar. 6, 2011, 12 Shanghai or Shenzhen-listed securities companies had posted fiscal results for last month with net profits totaling RMB 1.34 billion. The combined operating revenue of the 12 firms was RMB 3.16 billion in February.

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