CICC H1 net profit drops 70%
Updated: 2011-07-21 16:46
By Ben Yue (chinadaily.com.cn)
China International Capital Corporation Ltd (CICC) realized a 130 million yuan ($20.1 million) net profit in the first half of 2011, down 70 percent year-on-year, Yicai.com reported Wednesday.
According to CICC's financial statement, the drop in profit was the result of poor performance from its investment banking division. Shanghai-based data service company WIND said CICC took no IPO cases during the first half of the year.
CICC's business revenue decreased 26.66 percent year-on-year, as did its income of investment, which decreased 46.97 percent year-on-year,.
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