Brokerage Licenses Drive Profit Divide Among China’s Online Finance Platforms

China’s top online financial platforms saw sharply diverging fortunes during the first-half stock market rally, which heavily rewarded those with brokerage capabilities.

Fueled by a record 317.5 trillion yuan ($47.2 trillion) in Chinese mainland stock market turnover, East Money Information Co. Ltd. (300059.SZ) dominated the sector. As the sole major platform with a full securities license, its net profit jumped 45% year-on-year. The firm capitalized on a surge in retail accounts, capturing more than 8% of the market’s total trading volume.