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Zheshang Securities Q1 profit climbs 355.8% YOY

Zheshang Securities Co. Ltd. said its normalized net income for the first quarter was 14 fen per share, a gain of 359.4% from 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 426.4 million yuan, a gain of 355.8% from 93.6 million yuan in the prior-year period.

The normalized profit margin climbed to 26.1% from 19.9% in the year-earlier period.

Total revenue increased 247.7% year over year to 1.64 billion yuan from 470.8 million yuan, and total operating expenses climbed 198.7% year over year to 958.1 million yuan from 320.7 million yuan.

Reported net income grew 343.0% from the prior-year period to 491.0 million yuan, or 17 fen per share, from 110.8 million yuan, or 4 fen per share.

As of July 10, US$1 was equivalent to 6.21 yuan.