China Everbright profit jumps in 2012

Hong Kong-listed China Everbright Ltd announced its annual results for calendar year 2012 on March 26, reporting that profits from Hong Kong operations surged 57 percent to HK$1.41 billion ($182 million).

Chen Shuang, Everbright executive director and CEO, said the company in 2012 restructured the Direct Investment, Asset Investment and Asset Management divisions into three key segments — Primary Market Investment, Secondary Market Investment, and Structured Financing & Investment.

The three new segments have become the core business operations, Chen said.

China Everbright reported a 24 percent year-on-year increase in operating income to HK$840 million.

The company said it believes China's sustainable development as well as the reform and opening of China's financial industry provide unprecedented opportunities for Everbright and its unique macro-asset management platform.

The Group is a shareholder of Beijing-based Everbright Bank. The midsize lender is making its third attempt to list in Hong Kong with a plan to raise $1.5 billion to meet stricter capital requirements that take effect at the end of 2013.