China Merchants Securities (600999) Q2 2026 earnings summary

Executive summary

• Achieved record-high interim results with revenue of RMB 21.90 billion, up 108.19% year-over-year, and net profit attributable to shareholders of RMB 10.62 billion, up 104.87%.

• All major business segments delivered strong growth, with investment and trading income surging 325.63% and investment management up 148.65% year-over-year.

• Maintained robust risk management, with no major compliance or safety incidents and all regulatory capital and liquidity ratios well above requirements.

Financial highlights

• Operating income: RMB 21.90 billion, up 108.19% year-over-year.

• Net profit attributable to shareholders: RMB 10.62 billion, up 104.87% year-over-year.

• Basic and diluted EPS: RMB 1.19, up 112.50% year-over-year.

• Weighted average ROE: 8.22%, up 4.04 percentage points year-over-year.

• Total assets: RMB 871.41 billion, up 15.65% from year-end 2025.

• Net cash flow from operating activities: RMB 63.74 billion, up 1,608.49% year-over-year.

Outlook and guidance

• Will continue to accelerate transformation in wealth management, strengthen institutional services, and deepen AI-driven digitalization.

• Plans to further expand investment banking, asset management, and international business, focusing on technology, green finance, and cross-border opportunities.

• Maintains a prudent approach to risk and capital management, with a focus on sustainable, high-quality growth.