Huatai Securities reports net profit slump in April
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Huatai securities posted a sharp decline in net profit in April on a monthly basis, after a strong performance in the first quarter of 2019.

In the filing to the Shanghai Stock Exchange, the brokerage firm reported its net profit for April stood at 414.25 million yuan (about 61 million U.S. dollars), compared with 1.58 billion yuan a month earlier.

Operating revenue saw a month-on-month slump of 56.3 percent to 1.03 billion yuan while net assets stood at 98.2 billion yuan by the end of April, the company said.

The decline in net profit and revenue was in line with the weak performance of Chinese brokerage firms last month, which was in marked contrast with their robust results in Q1 amid strong rebound of China's stock market.

Leading Chinese brokerages including CITIC Securities, Guotai Junan Securities and Huatai Securities saw their operating revenue top 2 billion yuan in March alone.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan