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Haitong Securities H1 net profit climbs 82.34% YOY

Haitong Securities Co. Ltd. posted an 82.34% year-over-year increase in net profit for the first half ended June 30 amid a rise in investment income and gains.

The company on Aug. 30 reported a consolidated first-half net profit attributable to owners of 5.53 billion yuan, up from 3.03 billion yuan in the prior-year period. EPS rose to 48 fen from 26 fen.

Commission and fee income grew to 6.21 billion yuan from 5.35 billion yuan, while interest income fell to 6.65 billion yuan from 7.41 billion yuan.

Financial lease income climbed to 2.36 billion yuan from 1.69 billion yuan. Net investment income and gains jumped to 5.85 billion yuan from 1.64 billion yuan a year earlier.

Total revenue, gains and other income rose to 26.07 billion yuan from 18.99 billion yuan.

As of Aug. 30, US$1 was equivalent to 7.15 Chinese yuan.