[ET Net News Agency, 15 August 2017] CSC Financial (06066) said it expects the net
profit attributable to the shareholders for the six months ended 30 June 2017 would be
about Rmb1,850 million, a decrease of about 33.4% as compared with Rmb2,777 million for
the corresponding period in 2016.
Such expected decline was primarily due to the significant year-on-year decrease of the
fee and commission income, among which: as a result of the decrease in trading volume in
the A share market and the decrease in the securities brokerage commission rate of the
company in line with the declining rate across the industry, the fee and commission income
of the company from the securities brokerage business recorded a significant year-on-year
decrease; and due to the impact of regulatory and macro economic, the rate of return in
the bond market presented an upward trend amidst fluctuations; the issuance size of
corporate bonds and enterprise bonds in the entire market recorded a significant
year-on-year decrease, and the income of the company from the corporate bond underwriting
business recorded a significant year-on-year decrease. (HL)