China Merchants Bank H revenue and financials

3968 · HKEX · HKD

Secondary listing. The primary listing is China Merchants Bank · SSE (CNY)

$50.95Change from previous close: −0.10%Absolute change: −$0.05

Close · October 7, 2026

In the fiscal year ended December 2025, China Merchants Bank H reported revenue of ¥332.06B (−0.84% year over year). Net income was ¥150.18B, a net margin of 45.2%.

Annual revenue · 2025: ¥332.06B
  1. ¥342.26B2022
  2. ¥336.65B2023
  3. ¥334.86B2024
  4. ¥332.06B2025

Fiscal year ending in December. Sources and method on the page Methodology and sources.

At a glance

Revenue growth
−0.84%
2025 vs 2024
Net income growth
+1.21%
2025 vs 2024
Net margin
45.2%
2024: 44.3%

Financial data

Amounts in millions of CNY; per-share values in CNY; shares in millions.

Cash flow · Quarterly
ItemQ2 2026Q1 2026Q4 2025Q2 2025Q1 2025
Operating cash flow178,762125,849275,32339,43595,026
Capital expenditure-17,320-5,424-12,422-4,105-3,096
Investing cash flow-78,814-87,43055925,542-199,933
Financing cash flow19,424-26,670-27,29227,290-48,655
Dividends paid-2,783-26,778-6,586-1,821-864
Debt issued11,81838,60444,38830,47144,520
Debt repaid-17,682-37,631-3,439-33,675-100,401
Effect of exchange rates-95.0-1,106-2,628-237-74.0
Net change in cash119,37211,749248,59092,267-153,562
Free cash flow161,442120,425262,90135,33091,930