China Discloses Ranking of Securities Firms in 1999The Securities Association of China Tuesday issued a ranking of securities companies' net assets, profits, trading value, and the number and value of stocks underwritten in 1999.The merger of the former Guotai and Jun'an companies in 1999 produced Guotai-Jun'an, the largest securities firm in China in all the four indices, except profit. The company has a net worth of 3.99 billion yuan, and reported a trading value of 400.9 billion yuan, underwriting 21 stocks worth of 9.88 billion yuan in 1999. Shenyin-Wanguo Securities Co., also based in Shanghai, leads in profits with 850 million yuan in 1999. According to figures from the association, the top 20 firms on the chart of net assets boasted net assets worth of 36.3 billion yuan in 1999, rising 40 percent over that for the top 20 firms in 1998. The trading value of the top 20 firms rose 47 percent over that for 1998 to reach 2.82 trillion yuan in 1999. Similarly, the profits of the leading 20 firms in 1999 totaled 6.6 billion yuan, up 10 percent from the 1998 level. The association said this reflects the increased strength and better performance of securities firms in 1999, as well as the bullish market for the year. The rankings are based on performance reports submitted to the association by its 120 member companies. |
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