Huatai Securities issues positive profit alert for 2019

Maria Nikolova

The company expects the net profit attributable to shareholders to rise by 70%-85% in annual terms.

Huatai Securities Co., Ltd. (SHA:601688), a technology-enabled securities group in China, today issued a positive profit alert for the year to December 31, 2019.

According to the preliminary assessment by the financial department of the company, the net profits attributable to shareholders of the listed company for 2019 will increase by RMB3,522,916,400 to RMB4,277,827,000. This translates into an increase of 70% to 85% in comparison with the preceding year.

The net profit after extraordinary profit and loss attributable to shareholders of the listed company is set to increase by RMB3,506,601,000 to RMB4,258,015,500, representing an increase of 70% to 85% as compared with that of the preceding year.

Huatai Securities explains that, in 2019, reforms in China’s equity market continued, and the level of openness was enhanced, along with the launching of the STAR market of the Shanghai Stock Exchange and piloting the registration-based initial public offering (IPO) system.

Generally, the A-share market rebounded while the major indices of the Shanghai and Shenzhen Stock Exchanges showed upward movement with active trading volumes and a significant increase in the scale of equity capital raising. The bond market experienced fluctuation intervals in overall, while the issuance size of bonds has expanded steadily.

The company seized the development opportunities brought by market reforms to bolster its capital strength and market influence by becoming the first issuer of global depository receipts (GDRs) under Shanghai-London Stock Connect Program. Thanks to the company advancing the tech-empowered “two-pronged” development strategy, the revenues from the principal businesses, including wealth management business, institutional services business, investment management business and international business, marked a year-on-year increase.

Th company notes that the forecast is based on preliminary reviewed and is subject to the audited financial data of the company in the annual report for 2019 to be published in due course.

Read this next

Digital Assets

TRON approves Wintermute to mint, burn USDD stablecoin

TRON Reserve DAO has welcomed crypto market-making giant Wintermute as the ninth member and whitelisted institution to mint Tron network’s stablecoin, Decentralized USD (USDD).

Metaverse Gaming NFT

Nas Academy and Invisible College introduce innovative model for Web3 education

Singapore-based online learning platform, Nas Academy is joining forces with Invisible College to teach people everything they need to know about the Web3.

Digital Assets

Top exec at BitMEX pled guilty US Bank Act violations, pays $150K fine

BitMEX’s head of business development, Gregory Dwyer pled guilty to violating the US Bank Secrecy Act (BSA) and allowing customers to use the platform to circumvent the federal anti-money laundering rules.

Retail FX

CySEC slaps €150,000 fine on FXBFI, operator of 101investing brand

The Cyprus Securities and Exchange Commission (CySEC) today announced that it has reached a settlement with FXBFI Broker Financial Invest Ltd, trading as 101investing, ordering the firm to pay €150,000 for violating the Investment Services and Activities and Regulated Markets Law.

Retail FX

X Open Hub expands multi-asset offering with new cryptocurrencies and indices

X Open Hub, a multi-asset liquidity provider, announced today that it has extended its offering with inclusion of 30 new cryptocurrencies and two emerging market indices.

Retail FX

Interactive Brokers now offers 24/7 access to crypto trading

Interactive Brokers Group, Inc. (NASDAQ: IBKR) has widened access to cryptocurrency trading for its clients. Specifically, the discount broker extended trading hours for its cryptocurrency products to be traded 24/7, including on the weekends.

Inside View

Natural Language Generation for Multi-Language Social Media Strategies 

Natural Language Generation (NLG) is a crucial growth area in the digital landscape, with the unique potential to be used across multiple industries.

Market News, Technology

The B2Core Android App is Now Available For Download

The first version of the B2Core Android app is available for download, and it has many beneficial features for users.

Digital Assets

XBO taps custodian Fireblocks ahead of crypto exchange’s launch

XBO.com has integrated with digital asset and crypto technology platform Fireblocks ahead of the crypto exchange’s upcoming launch.

<