34 Shanghai-listed securities firms (two now delisted) reported combined revenue
of CNY 408.0 bln in the first nine months, up 21.9% YoY. Net profit attributable
to parent was CNY 170.14 bln, up 28.7% YoY; net profit excluding non-recurring
items was CNY 168.96 bln, up 34.8% YoY. By line: brokerage revenue CNY 108.49
bln (+28.2%), proprietary trading CNY 170.06 bln (+15.7%), asset management CNY
31.91 bln (+26.8%), credit business CNY 36.63 bln (+43.3%), and investment
banking CNY 27.95 bln (+28.3%). Brokerage and proprietary trading together
accounted for about 68% of total revenue.