(Yicai Global) May 12 -- Hongta Securities, Western Securities and Caitong Securities, all brokerages listed on the Chinese mainland, grew their net profit six-fold in April as the industry boomed on increased investment income.

Some 30 listed brokerages in Shanghai and Shenzhen had published their April performance as of yesterday, with 40 percent of them doubling their profit and none of them reporting a loss. Three of the companies pocketed over CNY1 billion (USD141 million), with CITIC Securities topping the lot at CNY1.62 billion. Shenwan Hongyuan and CSC Financial earned CNY1.56 billion and CNY1.04 billion.

Listed brokers showed great elasticity as mainland shares jumped in April, and the majority of them posted large increases in profit thanks to their own investment income, Shanghai Securities News cited an industry analyst as saying.

It was the smaller companies posting the fastest growth, but industry giant CITIC still more than doubled its income on the year to CYN3.5 billion, also a 9.9 percent gain from the previous month. Shenwan Hongyuan, CSC Financial, Haitong Securities and Guotai Junan Securities were the next four biggest in terms of income, all pulling in more than CNY2 billion each. Shenwan Hongyuan and CSC both more than doubled their April revenue annually.

Editor: James Boynton