Financial services provider KVB Kunlun (HKG:8077) recently announced financial results for the Quarter, as well as for the six months ended June 30, 2016. According to the company’s unaudited report, it generated a total income of HKD 83,763 million in Q2 of 2016, which represents a decrease both QoQ and YoY (by almost 15% and more than 20%, respectively), however things look much better in the half-year picture. The company’s total income for the first half of 2016 amounted to HKD 189.571 million, which represents a gain of 22.6% YoY from only HKdD154.675 million generated in H1 2015.
What is more, the company’s income from leveraged forex and other trading activities amounted to HKD 70,260 million in the second quarter, which is 12.7% lower compared to the same period a year earlier and represents a 22.6% decrease from the previous quarter. Again, half-year results are much better: Leveraged forex and other trading income amounted to HKD 161,021 million, 31.5% higher than the one generated in H1 of 2015 (HKD 122,412 million)
XAU/USD continued to be the most popular trading product in the second quarter of the year, followed by USCRUDE, CHINA300 and EUR/USD. Besides, commodity and index CFDs became more popular in the first six months of 2016. The trading volumes in XAU/USD and USCRUDE experienced a significant growth compared with the same period in 2015.
The full text of the report may be viewed here.
KVB Kunlun Financial Group Ltd (HKG:8077) became public in 2013. In 2015 Chinese giant CITIC Securities Company Limited (SHA:600030) acquired control of KVB by buying a 60% stake of the company.
KVB Kunlun offers trading in over 30 currency pairs, precious metals, and various global stock index and commodity CFDs. Established in Hong Kong back in 2001, nowadays the group has global reach with offices in Toronto, Auckland, Sydney, Melbourne and Hong Kong.
KVB Kunlun Group includes many subsidiaries, licensed and supervised by the respective government regulators in New Zealand, Australia and Hong Kong.