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By Yin Lei

China's listed securities companies experienced a recovery in November after suffering an extended slump in their business performances the month before, said a report of Shanghai Securities News on Friday.

As of Friday, 30 of China's listed securities dealers had unveiled their financial statements for November. Their revenues and net profits both increased from those in October, standing at a total of 15 billion yuan (2.18 billion U.S. dollars) and 6.25 billion yuan (907.81 million U.S. dollars) respectively, according to statistics from Choice, a Chinese financial data provider.

CITIC Securities Co., Ltd. staged the most striking monthly business performance, raking in 2.19 billion yuan (318.5 million U.S. dollars) in revenues and 1.68 billion yuan (243.3 million U.S. dollars) in net profit.

Out of these 30 companies, 26 obtained more revenues in November over the previous month, with eight of them seeing a doubled amount. Nanjing Securities Co., Ltd. and Haitong Securities Co., Ltd. saw their net profits surge by ten-fold month-on-month.

The picture was better on a year-on-year basis too. A comparison of year-on-year financial statements available from 25 securities companies showed that 15 of them saw increased revenues and 16 enjoyed higher net profits in November 2018. Of these companies, 10 saw their net profits double in a month.

Amid the overall recovery in November, several brokers registered losses that ranged from one million yuan (145.25 thousand U.S. dollars) to 38 million yuan (5.52 million U.S. dollars).

Analysts said listed securities companies at home will be on track for further performance recovery and valuation correction as China's securities market reacts positively to a series of favorable policies.

Currently, multiple market-oriented measures adopted by the Chinese government are functioning to dampen market risks associated with the pledging of stocks by some A-share companies. The acceleration in the opening-up of China's financial sector is expected to generate more business opportunities for domestic securities brokers.