Chinese brokerages have seen a sharp plunge in their net profits in August compared to the preceding month.
Figures from the Securities Association of China (SAC) indicate that Chinese securities companies posted operating revenues of 37.491 billion yuan in the month of August, for a YoY rise of 40.04%. Net profits were 14.057 billion yuan, for a YoY rise of 47.36%.
These figures nonetheless mark a 42.46% decline in operating profits compared to July, as well as a drop in net profits of 52.77%.
Securities investment returns totalled 9.461 billion yuan in August, for a decline of 65.13% compared to the preceding month.
SAC data further indicates that the net revenues for securities sector agency trading totalled 11.93 billion yuan in August, for an on-month decline of 28.99%, while net revenues
Securities underwriting and sponsorship posted net revenues of 6.901 billion yuan in August, for an on-month decline of 3.83%, while financial consulting saw net revenues of 633 million yuan, for an on-month rise of 1.93%.
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