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Zheshang Securities Q2 profit climbs 323.2% YOY

Zheshang Securities Co. Ltd. said its normalized net income for the second quarter came to 426.4 million yuan, a gain of 323.2% from 100.8 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 26.1% from 10.8% in the year-earlier period.

Total revenue rose 74.8% on an annual basis to 1.64 billion yuan from 936.2 million yuan, and total operating expenses grew 23.6% year over year to 958.1 million yuan from 774.9 million yuan.

Reported net income grew 334.0% year over year to 491.0 million yuan, or 17 fen per share, from 113.1 million yuan.

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