Citic Securities Says Profit Soared in Tumultuous Year

Citic Securities called a year that cleaned out its executive suite in the wake of a stock-market crash the “severest test” in its 20-year history, though China’s wild stock-market gyrations appear to have had little impact on the firm’s ability to make money.

The nation’s largest brokerage firm this week said its net profit soared nearly 75% in 2015 to a record level, and it remained China’s largest stock and bond underwriter as...