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China Cinda AMC's profit doubles in H1 2012

Jul. 30, 2012 (China Knowledge) - China Cinda Asset Management Corp, one of the four state-owned asset management firms in China, announced that its net profit attributable to shareholders surged 104.6% YoY to RMB 3.54 billion in the first half of this year.

In the first six months of this year, the company's total profit amounted to RMB 4.58 billion and continues to maintain the leading position in the industry.

The company said the huge increase in net profit was mainly due to good performance from both the parent company and its subsidiaries.

At the end of 2011, China Cinda AMC had RMB 172.4 billion in total assets, while its net assets were RMB 37.6 billion.

In March 2012, the company said its four strategic investors comprising China's National Social Security Fund, UBS, Standard Chartered and CITIC Capital invested a total of RMB 10.37 billion in the company, China Knowledge reported earlier.

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