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Chinese listed securities firms' profit up 177% in Feb

Mar. 8, 2012 (China Knowledge) - The eighteen Chinese listed brokerage companies reaped a combined net profit of RMB 1.77 billion in February this year, 177% more than in January, boosted by a rebound in the Chinese stock market.

The 18 securities firms saw its operating revenue surge 54% month on month to RMB 4.54 billion last month.

A total of eight listed brokerage companies saw their net profit exceed RMB 100 million. GF Securities Co Ltd<000776> was the best performer, recording a net profit of RMB 320 million and operating revenue of RMB 724 million last month.

Haitong Securities Co Ltd<600837> came in second with a net profit of RMB 283 million and CITIC Securities Co<600030><6030>, the largest listed brokerage firm in China, was in the third place with a net profit of RMB 156 million.

Last month, the stock trading value in China jumped 102% from January to RMB 3.35 trillion.

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