China Merchants Securities sees strong profit growth in first half 2025

China Merchants Securities Co. reported total revenue, other income, and gains of RMB15.079 bn for the first half of 2025, a 4.99% year-on-year increase. Profit attributable to shareholders rose by 9.23% to RMB5.186 bn, with basic earnings per share at RMB0.56, up from RMB0.51. Fee and commission income surged by 40.85% to RMB6.272 bn, driven by strong growth in securities and futures brokerage.

The company's total assets at June 30, 2025, stood at RMB672.859 bn, a decrease of 6.70% from the end of 2024. Total liabilities also decreased by 8.38% to RMB541.387 bn, resulting in a gearing ratio of 75.65%, a 1.48 percentage point decrease from the end of 2024. Net cash from operating activities decreased by 61.34% to RMB17.043 bn, while net cash from investing activities saw a substantial increase of 228.09% to RMB13.613 bn.

CMS confirmed that all risk control indicators, including net capital and liquidity, consistently met regulatory requirements during the reporting period. The company also announced a 2025 interim cash dividend of RMB1.19 (tax inclusive) per 10 shares.