CITIC Securities Co, China's biggest brokerage, reported on Thursday a 21.9% rise in profit in 2020, led by strong gains in securities investments.
Its 2020 net profit rose to 14.9 billion yuan from 12.23 billion, the company said in a stock exchange filing. The results were largely in line with preliminary results released in January. CITIC's revenue generated from stock investment jumped by 32.73% to 24.9 billion yuan, while deal fees rose by around 50% to 5.66 billion yuan, the annual report showed.
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