By Yin Lei
China's listed securities brokerages staged mixed performances in January, with half of them pocketing higher year-on-year earnings, said a report of China Securities Journal on Tuesday.
In January, 35 A-share listed brokerages together achieved revenues of 17.11 billion yuan (2.53 billion U.S. dollars) and profits of 6.12 billion yuan (904 million U.S. dollars).
Excluding five of them which went public after February 2018, the remaining 30 companies saw their revenues rise by 2.04 percent from a year earlier and drop by 32.77 percent over the prior month. Their profits slid by 2.4 percent year-on-year and were 2.12 percent lower than in December 2018.
On a year-on-year basis, 16 of the above 30 brokerages reported more revenues, with Pacific Securities Co., Ltd. achieving the highest growth of 332.7 percent. Shenwan Hongyuan Securities Co., Ltd., CITIC Securities Co., Ltd. and Guosen Securities Co., Ltd. posted growth of 84.6 percent, 46.1 percent and 21.8 percent respectively. In terms of profit, fifteen companies earned more in January.
Compared with the prior month, 23 brokerages suffered a decline in their revenues and 15 saw less earnings in January 2019.
The month-on-month declines last month may be a result of the relatively high base in December 2018 when bonus accrual was made, said analysts.
CITIC Securities Co., Ltd. outperformed all its peers in January in both revenue and profit, which posted revenue of 2.14 billion yuan (315.78 million U.S. dollars) and earnings of 741 million yuan (109.45 million U.S. dollars).
In January, the A-share market experienced a recovery, with the average daily trading volume at the Shanghai Stock Exchange and Shenzhen Stock Exchange up by 12.4 percent from December 2018 to 296.85 billion yuan (43.84 billion U.S. dollars).