The Financial Sector led the Groupmark China Index for the month of July.
The Groupmark China Index financial sector rose 24.9% for the month leading all other sectors. The leading stocks in the financial sector were CNinsure Inc ADS (CISG) and China Finance Online Ltd ADS (JRJC). The broader Groupmark China Index rose 7.66% for the same period.
CNinsure Inc. ADS (CISG) operates an independent insurance intermediary company in China. It provides insurance claim adjusting services, such as assessment, survey, authentication, and loss estimate to individuals and institutions.
For the three months ended 31 March 2009, CNinsure Inc’s revenues increased 58% to RMB215.9M. Net income increased 30% to RMB45.5M. Revenues reflect an increase in commissions & fees income and higher other service fees. Net income was partially offset by a rise in commissions & fees expenses, higher selling expenses, an increase in general & administrative expenses and a decrease in interest income.
China Finance Online Ltd Ads (JRJC) China Finance Online Co. Limited, provides online financial and listed company data and information in China. The company provides various services on a single information platform that integrates data and information from multiple sources with features and functions, such as data and information search, retrieval, delivery, storage, and analysis.
For the three months ended 31 March 2009, China Finance Online Co. Limited’s revenues increased 6% to $11.8M. Net loss totaled $128K vs. an income of $3.5M. Revenues reflect growth in subscription service fees from individual customers and institutional customers. Net loss was offset by an increase in general & administrative expenses, higher sales & marketing expenses and a rise in product development expenses.
The top 5 sectors in the Groupmark China Index for July are;
- Financial + 24.9%
- Conglomerates 22.3%
- Consumer Cyclical 18.1%
- Technology 13.3%
- Basic Material 12%