BIZCHINA / Index & Statistics |
Orient Securities reports earnings surge(Xinhua)Updated: 2007-01-18 16:24 Being the first stockbroker to report its earnings, Orient Securities of Shanghai yesterday posted a 2,256 percent jump in 2006 net profit to 933 million yuan (US$119 million). Pre-tax profit for 2006 amounted to 1.27 billion yuan. Total annual revenue rose 480 percent to 1.86 billion yuan. Stock investment and commission services were two major contributors to Orient Securities' profit. Gain from stock investment totaled 830 million yuan, up 920 percent, and commission income reached 747 million yuan, up 250 percent from 2005. Income from trust management and corporate investment amounted to 235 million yuan and 206 million yuan, respectively. Pan Xinjun, president of Orient Securities, said the company planned to be
listed in the stock market in the near future, either with an initial public
offering or acquiring enough shares in a listed company to tap a listed
status. (For more biz stories, please visit Industry Updates)
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