Hong Yuan Securities (000562.SZ) posted a 15.94-percent drop in net profit to 614 million yuan in the first half of 2011, reports National Business Daily, citing a company filing. Sales revenue in the same period fell 8.97 percent to 1.555 billion yuan, with earnings per share (EPS) of 0.42 yuan. All percentage changes in this article are year-on-year.

The securities company recorded revenue from brokerage commissions of 679 million yuan in the period, down 16.79 percent, as well as revenue from securities financing commission of 6.62 million yuan. Earnings from securities financing interest hit 10.27 million yuan. Hong Yuan Securities underwrote six stock issuances and 13 bond issuances in the first six months.

The company suffered a loss of 15.94 million yuan in investment income from its own financing products.

The company previously spent 300 million yuan to purchase its own published financing products.

Source:capitalvue