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Everbright Prestige increases profits despite AUM dip spurred by regulations

Everbright Prestige announced a 51% increase in profit after tax and a 21% decline in AUM yesterday after it implemented new regulation standards from the China Securities Regulatory Commission (CSRC). The results were released in an annual report yesterday. First rolled out in 2017 to crack down on shadow banking, CSRC now requires the net capital of subsidiary companies to be…

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