(MENAFN) Profits of Tianhong Asset Management Co., a leader in China's common fund industry, climbed 15.82 percent year on year to around USD458.2 million in 2018, according to a statement filed to the Shanghai Stock Exchange.
Incomes increased 6.18 percent from a year earlier to 10.13 billion yuan.
Tianhong Asset Management Co. is the first fund that sees profits surpass 3 billion yuan and incomes of over 10 billion yuan.
In 2003, in cooperation with Alipay, the company launched the first ever Internet fund "Yu'ebao," which remains one of the most popular money market funds in China because of its comparatively high revenues and low investment threshold.
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