China Merchants Securities' logo is seen on Aug 27, 2018. (PHOTO / IC)

BEIJING — China Merchants Securities Co, Ltd, a major Chinese securities firm, said Tuesday its net profits for 2019 surged by 64.57 percent year-on-year.

The total assets of the company rose 25.2 percent year-on-year to reach 381.8 billion yuan at the end of last year

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Its total net profits attributable to shareholders stood at 7.28 billion yuan (about US$1.05 billion) last year, the company said in a filing to the Shanghai Stock Exchange.

It garnered combined operating revenues of 18.7 billion yuan last year, up 65.24 percent from a year ago.

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The total assets of the company rose 25.2 percent year-on-year to reach 381.8 billion yuan at the end of last year.

The company's share price gained 2.18 percent on the Shanghai bourse to 18.72 yuan Tuesday.