19 August 2019

Everbright Securities 2013 net profit falls 79%, WSJ says

Everbright Securities Co.’s 2013 net profit fell 79 percent from a year earlier due to investment losses from a trading glitch and regulatory fines, the Wall Street Journal reported Tuesday. Net profit was 205.8 million yuan (US$33.2 million), down from 1 billion yuan a year earlier, the company said in its annual earnings report to the Shanghai Stock Exchange. Revenue rose 10 percent to 4.02 billion yuan from 3.65 billion yuan, the report said. The fall in profit was mainly due to investment losses from asset disposals following a trading glitch that sparked wild swings in the mainland stock market, the company said. 

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