Date
24 April 2018

Everbright Securities Jan-Sept net profit down 47%, paper says

Everbright Securities Co. Ltd. (601788.CN) is the only mainland securities firm to report a fall in results for the first three quarters, due mainly to a hefty penalty for trading irregularities that triggered a sharp jump in the Shanghai Composite Index on August 16, Beijing Business Today reported Thursday. Everbright Securities said Wednesday that for the nine months to September, its net profit was 509 million yuan (US$83.51 million), down 46.82 percent year on year, while revenue was 2.96 billion yuan, up 4.41 percent. The securities firm was fined a combined 523 million yuan for the August trading errors, the report said.

– Contact HKEJ at [email protected]

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