By Sherry Qin
Citic Ltd.’s nine-month net profit fell 19% due to lower operating income.
The Chinese state-owned investment company’s nine-month net profit was 39.32 billion yuan ($5.38 billion) compared with CNY48.68 billion in the same period a year earlier.
Net profit dropped 23% on year in the first half.
Citic’s operating income in the first three quarters declined to CNY268.99 billion from CNY274.59 billion in the year-earlier period.
It registered an operating profit of CNY88.33 billion in the first nine months, compared with CNY92.69 billion a year earlier.
Write to Sherry Qin at [email protected]
Corrections & Amplifications
This article was corrected at 0520 GMT to reflect Citic’s nine-month net profit was 39.32 billion yuan ($5.38 billion). The original version incorrectly said nine-month net profit was 39.24 billion yuan ($5.37 billion) in the second paragraph.
The Chinese state-owned investment company’s nine-month net profit was 39.32 billion yuan ($5.38 billion). “Citic Ltd. Nine-Month Net Profit Drops 19%,” at 0427 GMT, incorrectly said nine-month net profit was 39.24 billion yuan ($5.37 billion).
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