SHANGHAI, April 25 (Reuters) - CITIC Securities Co , China’s biggest brokerage, posted a 13 percent rise in first-quarter earnings on higher trading commission income.
Net profit in January through March rose to 975.3 million yuan ($157.9 million) from 863.3 million a year earlier, the company said in an exchange filing on Thursday.
CITIC Securities benefited from an increase in trading as a rebound in share prices attracted more investors back to the market.
According to the company’s monthly financial reports, net profit had been predicted to rise 15 percent during the quarter. ($1 = 6.1781 Chinese yuan) (Reporting by Samuel Shen and Kazunori Takada; Editing by David Holmes)