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CITIC Securities H1 profit rises 15.83% YOY on higher investment income

CITIC Securities Co. Ltd. posted a 15.83% year-over-year increase in net profit for the six months ended June 30 on the back of a surge in investment income.

The China-headquartered company said first-half net profit attributable to owners of the parent rose to 6.45 billion yuan from 5.57 billion yuan in the year-ago period. EPS rose to 53 fen from 46 fen.

Fee and commission income slipped to 10.19 billion yuan from 10.59 billion yuan in the year-ago period. Interest income fell to 6.63 billion yuan from from 7.28 billion yuan. Meanwhile, net investment income rose to 7.17 billion yuan from 4.61 billion yuan.

Total revenue and other income increased to 28.39 billion yuan from 27.15 billion yuan a year ago.

Total operating expenses dropped year over year to 19.76 billion yuan from 20.14 billion yuan.

Operating profit came to to 8.63 billion yuan, up from 7.01 billion yuan for the six months ended June 30, 2018.

As of Aug. 21, US$1 was equivalent to 7.06 Chinese yuan.