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China Merchants Securities' First-Half Profit Surges on Stronger Market Activity

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China Merchants Securities' First-Half Profit Surges on Stronger Market Activity

China Merchants Securities (HKG:6099, SHA:600999) posted net profit attributable to shareholders of 10.6 billion yuan for the first half, more than doubling from 5.2 billion yuan a year earlier, according to the company's interim report filed Tuesday.

Earnings per share rose to 1.19 yuan from 0.56 yuan, while total revenue, other income and gains jumped 80.9% to 27.3 billion yuan from 15.1 billion yuan.

The stronger performance reflected a broad-based improvement across its core businesses as buoyant capital-market activity lifted trading and wealth-management demand.

Revenue, other income and gains from wealth management and institutional business increased 39.7% to 12.5 billion yuan in the first half.

The company's client base and asset pool also expanded. Active trading clients rose 10% year over year to about 22.1 million at the end of June, while clients' assets under custody increased 9.3% from the end of 2025 to 5.78 trillion yuan.

Its fund investment advisory business continued to scale up, with assets under management reaching 8.59 billion yuan at the end of June, up 84.7% from the end of 2025.

Investment banking also gained momentum, with revenue, other income, and gains rising 51.9% to 639 million yuan.

The company stepped up its "technology-based investment banking" strategy, supporting listings and financing for companies in sectors such as semiconductors, new energy, electric vehicles, new materials, and high-end equipment.

It acted as a joint lead underwriter for the A-share initial public offering of ChangXin Memory Technologies (SHA:688825) or CXMT, a leading domestic DRAM maker, in July, while also sponsoring Hong Kong and mainland listings across several technology and emerging-industry sectors.

The company declared an interim cash dividend of 1.67 yuan per 10 shares, to be paid before Oct. 25.

China Merchants Securities said it will continue to deepen AI-driven capabilities, strengthen its buy-side investment advisory strategy, and broaden integrated services for institutional and corporate clients in the second half.

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