CITIC Securities reports profit surge in 2020

CITIC Securities, one of China’s leading brokerage companies, reported growth in profit and revenue in 2020.

Its net profits surged 21.82 percent year on year to reach 14.9 billion yuan (about 2.31 billion U.S. dollars) last year, according to a statement the company filed with the Shanghai Stock Exchange.

Operating revenue jumped by 25.98 percent year on year to 54.35 billion yuan last year, the statement showed.

At the end of December 2020, the company’s total assets topped 1.06 trillion yuan, up 34.48 percent from a year ago.