China Merchants Securities (600999) H1 2025 earnings summary

Executive summary

• Achieved revenue of ¥10.52 billion, up 9.64% year-over-year; net profit attributable to shareholders reached ¥5.19 billion, up 9.23% year-over-year.

• All major business segments contributed to growth, with wealth management and institutional business leading at ¥5.93 billion in revenue.

• Maintained strong risk control and compliance, with all regulatory capital and liquidity ratios above requirements.

• Proposed interim cash dividend of ¥1.19 per 10 shares, totaling ¥1.03 billion.

Financial highlights

• Operating income: ¥10.52 billion, up 9.64% year-over-year.

• Net profit attributable to shareholders: ¥5.19 billion, up 9.23% year-over-year.

• Basic and diluted EPS: ¥0.56, up 9.80% year-over-year.

• Total assets: ¥672.86 billion, down 6.70% from year-end 2024.

• Net cash flow from operating activities: -¥4.23 billion, down 124.22% year-over-year.

Outlook and guidance

• Plans to further strengthen wealth management, institutional, and investment banking businesses.

• Will continue to focus on digital transformation, risk management, and product innovation.

• Expects to maintain stable growth and enhance shareholder returns in the second half of 2025.