China Merchants Securities total assets grow in 2018

BEIJING - China Merchants Securities Co Ltd, a major Chinese securities firm, announced in its annual report an increase of total assets in 2018.

The total assets of the company rose 6.75 percent year-on-year to reach 304.9 billion yuan ($45 billion) last year, the Shanghai-listed firm said.

However, the growth of its business revenue and net profit dropped 15.21 percent and 23.52 percent year-on-year in 2018 to 11.32 billion yuan and 4.42 billion yuan, respectively.

Meanwhile, earnings per share stood at 0.54 yuan, down 30.25 percent from a year earlier, the report said.

China Merchants Securities said its business performance were generally stable in spite of tightened liquidity levels in major economies and slower economic growth in China.