Guotai Junan’s controlling shareholder increases stake in HK brokerage

Maria Nikolova

The controlling shareholder acquired 562,215,000 shares of the broker from March 2018 to December 12, 2018.

Hong Kong-based online trading company Guotai Junan International Hold. Limited (HKG:1788) announces that its controlling shareholder – Guotai Junan Holdings Limited (GTJAH), has lifted its stake in the broker.

GTJAH acquired an aggregate of 562,215,000 shares of the broker from March 2018 to December 12, 2018. As at December 12, 2018, GTJAH holds 5,089,272,800 shares of the broker, representing approximately 65.96% of the total issued shares of the broker.

Based on the information available to Guotai Junan International Hold. Limited and to the best knowledge of the Board, the company has sufficient public float as at the date of this announcement.

Guotai Junan had challenging first six months of 2018. During the six months ended June 30, 2018, the total profit attributable to equity holders of the company amounted to about HK$507 million, down 25% from the result of HK$674 million registered in the equivalent period a year earlier.

Excluding the effect of the income (particularly on brokerage and corporate finance businesses) arising from the listing of the parent company in the first half of last year, the Profit Attributable to Shareholders for the first half of 2018 increased by 13.6%. During the period under review, income from the Group’s financial products business increased significantly, presenting a growth of impressive 271% year on year.

In the first half of 2018, the Group’s brokerage business registered a total revenue of approximately HK$271 million (2017: approximately HK$289 million). Excluding the effect of the income of the Company arising from the listing of the parent company in the first half of 2017, the brokerage income grew by 40.4% year-on-year (2017: HK$193 million), among which the commission income from securities trading in the Hong Kong market soared by 60% to HK$155 million.

Revenues generated by the leveraged FX business were barely changed from a year earlier at HK$1.49 million.

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