China Merchants Securities revenue and financials
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In the fiscal year ended December 2025, China Merchants Securities reported revenue of ¥23.57B (+21.47% year over year). Net income was ¥12.35B, a net margin of 52.4%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +21.47%
- 2025 vs 2024
- Net income growth
- +18.91%
- 2025 vs 2024
- Net margin
- 52.4%
- 2024: 53.5%
Financial data
Amounts in millions of CNY; per-share values in CNY; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -31,369 | 54,726 | 27,104 | 62,504 | — |
| Depreciation and amortization | 746 | 691 | 581 | 539 | — |
| Capital expenditure | -723 | -764 | -608 | -560 | — |
| Investing cash flow | 4,858 | -14,261 | -24,095 | -19,130 | — |
| Financing cash flow | 22,197 | -10,358 | 7,701 | -21,014 | — |
| Dividends paid | -9,247 | -8,906 | -8,174 | -11,174 | — |
| Debt issued | 164,128 | 153,623 | 137,802 | 75,842 | — |
| Debt repaid | -134,338 | -154,700 | -121,517 | -85,262 | — |
| Effect of exchange rates | -239 | 262 | 276 | 1,187 | — |
| Net change in cash | -4,313 | 30,107 | 10,710 | 22,360 | — |
| Free cash flow | -32,091 | 53,963 | 26,495 | 61,944 | — |