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China's Guotai Junan Securities posts YOY decline in H1 profit

China's Guotai Junan Securities Co. Ltd. reported a year-over-year decline in net profit for the six months ended June 30.

The company said Aug. 25 that profit attributable to its equity holders decreased to 4.76 billion yuan from 5.02 billion yuan in the prior-year period. EPS dropped to 56 fen from 62 fen.

The company said its fee and commission income amounted to 5.95 billion yuan, down from 7.84 billion yuan in the six months ended June 30, 2016. Interest income dropped to 5.93 billion yuan from 6.09 billion yuan in the year-ago period.

The company's total revenue for the period fell to 15 billion yuan from 15.80 billion yuan. Total expenses dropped to 9.20 billion yuan from 11.36 billion yuan.

Provision for impairment losses fell to 219.8 million yuan from 588.2 million yuan.

As of Aug. 25, US$1 was equivalent to 6.66 Chinese yuan.