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Haitong Securities' net profit up 77.3% MoM in May

Jun. 7, 2012 (China Knowledge) - Haitong Securities Co Ltd<600837><6837>, China's second-largest brokerage firm by total assets, announced yesterday that its unconsolidated net profit reached RMB 390 million in May this year.

The net profit last month reflected a surge of 77.3% from RMB 220 million in April and an increase of 2.5 times from RMB 110 million in the same month of 2011.

The company's unconsolidated operating revenue soared 90% from April to RMB 875 million in May.

At the end of last month, Haitong Securities had net assets of RMB 58.1 billion.

In the first quarter of this year, Haitong Securities became the most profitable company among the 18 China-listed securities firms. The firm reaped a net profit of RMB 1.05 billion in the first three moths, 11.48% less in the same period of 2011, China Knowledge reported earlier.

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