All the 47 securities companies having publicized their half-year reports witnessed profit, ending their long-time deficit period when the Chinese stock market was bearish.

The net profit of these 47 securities dealers totaled 8.591 billion yuan (1.07 billion U.S. dollars) in the first half, the Xinhua-run China Securities Journal reported.

Shenyin & Wanguo Securities Company and Guotai Junan Securities Company are the two most profitable dealers, with net profit standing at 765 million yuan and 702 million yuan in the first half.

Most of their profit comes from doubled commission charges as well as their own securities buy-and-sell business.

Shenyin & Wanguo collected commission fees of 736 million yuan and Guotai Junan 1.015 billion yuan from their clients, jumping 200 percent and 142 percent year on year respectively.

Meanwhile, the 47 securities companies also gained revenue of 3.4 billion yuan from their own securities trading.

China's stock market remained four-year bearish since 2001 and the Composite Stock Index on the Shanghai Stock Exchange, the country's major stock index, hit a six-year low of 998 points on June 6, 2005.

This triggered the huge losses and even closing of some securities firms, including the Guangdong International Trust & Investment Corporation and Nanfang Bonds Company.

China's stock market turned bullish since beginning this year, with the composite index jumping about 50 percent to around 1,700 points.

Source: Xinhua