May. 2, 2012 (China Knowledge) - Haitong Securities Co Ltd<600837
><6837>, China's second-largest brokerage firm by total assets, became the most profitable company among the 18 China-listed securities firms in the first quarter of this year.
Haitong Securities reaped a net profit of RMB 1.05 billion in the first three moths, 11.48% less in the same period of 2011.
CITIC Securities Co<600030
><6030>, China's largest securities firm by market value, came in second with a net profit of RMB 863 million in the period, reflecting a drop of 6.39% year on year.
GF Securities Co<000776> was in the third place recording a net profit of RMB 651 million in the first quarter, followed by China Merchants Securities Co Ltd<600999
> with a net profit of RMB 537 million and Huatai Securities Co<601688
> with a net profit of RMB 481 million.
In the first quarter, only Shanxi Securities Co<002500> and Hongyuan Securities<000562
> saw increases in net profit of 54.79% and 5.86%, respectively, while Pacific Securities Co<601099
> saw the biggest decline of 82.29%.