Date
20 October 2017

Hongyuan’s Oct net profit plunges 88% from Sept, website says

Beijing-based Hongyuan Securities Co., Ltd. (000562.CN) said its net profit for October fell 88.46 percent from September to 11.78 million yuan (US$1.934 million), while revenue for the month was also down, shedding 65.07 percent year on year to 109 million yuan, news website china.com.cn reported Wednesday. The company’s net assets totaled 14.593 billion yuan as of the end of October, the report said. According to an earlier media report, Shenyin & Wanguo Securities Co. is set to take full ownership of Hongyuan in a plan backed by Central Huijin Investment Ltd., a major shareholder of both the firms.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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