Mainland brokerages experienced sharp declines in earnings last year as investors shunned stocks amid a sluggish market.Thursday, 12 January, 2012, 12:00am
Mainland stocks could drop by another 9 per cent amid increasing risks of an economic hard landing, predicts Guotai Junan Securities.
The Shanghai-based brokerage, which has gained a reputation for correctly calling the market, said the benchmark Shanghai Composite Index could fall to the 2,400-point level despite having already lost 6 per cent this year.18 Jun 2011 - 12:00am
Inflation is eating into corporate earnings on the mainland with 278 companies listed there - one-fifth of the total - reporting losses or profit declines for last year. Most of the declines were due to rising raw material costs, according to the official China Securities Journal.11 Feb 2011 - 12:00am
Mainland companies dumped a sizeable chunk of formerly non-tradable shares last month, fuelling worries about the strength of the current rally as investors are also expected to embark on a selling spree in the coming months to lock in profits.8 Apr 2009 - 12:00am
Guotai Junan Securities, one of the mainland's biggest brokerages, is slashing salaries as it battles to cut costs in a slumping market.
Two sources said the Hong Kong investment banking arm of the brokerage, Guotai Junan (Hong Kong), had reduced basic pay by as much as 22 per cent for some staff.8 Oct 2008 - 12:00am
Profits reported for last year by the mainland brokerage industry have almost quadrupled from 2006, driven by a surge in new clients and stock trading.
However, analysts said brokerages would struggle to repeat the performance given the slide in the mainland markets this year.14 Feb 2008 - 12:00am
Global information technology giant IBM Corp has secured a landmark project to build the first advanced risk management system for a mainland securities firm.22 Jan 2008 - 12:00am
Mainland broker forecasts 15-fold earnings jump amid booming market
Haitong Securities, which completed a back-door listing earlier this year, said net profit for the first nine months could jump 15-fold, driven by strong revenue and a booming stock market.13 Oct 2007 - 12:00am
Guotai Junan Securities, the mainland's second-largest brokerage by assets, said its first-half net profit jumped almost fourfold, driven mainly by stock trading fees.
Net profit for the first six months jumped to 3.9 billion yuan from 702 million yuan a year earlier, while revenue more than tripled to 6.65 billion yuan from 1.54 billion yuan.19 Jul 2007 - 12:00am
China Galaxy Securities, the country's largest brokerage by trading volume last year, has completed government registration for its 167 branches ahead of a possible initial public share offering.
The Beijing-based brokerage, with healthy assets spun off from a near-bankrupt older unit, had almost completed its restructuring, the company said.3 Apr 2007 - 12:00am