SHANGHAI: Haitong Securities, China's No 2 listed brokerage by market value, said net profit fell 24.9 percent in the first half of the year.
Earnings during the first six months of the year fell to 1.8 billion yuan from 2.5 billion yuan a year earlier, Haitong said on Thursday in a statement to the Shanghai Stock Exchange.
Haitong and domestic rivals, including Citic Securities and GF Securities, are suffering from a stock market slump this year, triggered by concerns over monetary tightening, the economic outlook and massive equity supplies.
Haitong's revenue rose 6.05 percent while operating profit fell 17.52 percent.
Haitong Securities reported flat first-quarter earnings, in line with expectations earlier in April.
