CITIC Securities (600030.SH) recorded a 378.2-percent month-on-month increase in net profits in July to 746 million yuan, reports yicai.com, citing a company filing. Sales revenues grew 121.5 percent from June to 979 million yuan.

CITIC Kington Securities and CITIC Wantong Securities, two of its subsidiaries, respectively yielded net profits of 40.19 million and 29.37 million yuan that month.

As of July 30, CITIC Securities had total net assets of 58.79 billion yuan while those of its two subsidiaries hit 2.05 billion and 2.63 billion yuan.

CITIC Securities earned net profits of 156 million yuan on revenues of 442 million yuan in June.

For the first half of 2011, the Shenzhen-based securities firm generated revenues of 7.5 billion yuan, down 5.02 percent year-on-year, while net profits grew 13.12 percent to 2.97 billion yuan. Earnings per share increased 15.38 percent year-on-year to 0.3 yuan.

CITIC Securities is planning a hearing for its initial public offering on the Hong Kong Stock Exchange, which is expected to raise as much as two billion US dollars.