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600999 CG​

China Merchants Securities Co., Ltd. Class A(600999 CG)

$16.15+0.251.57%(Market Closed · 07:00:00 UTC · (15 min delay))

Overview

Profile

Financials & Metrics

FinancialsChartingEmployees

China Merchants Securities Co., Ltd. Class A — Company Profile

Headquartered in Shenzhen, People's Republic of China, China Merchants Securities Co., Ltd. is a prominent financial services firm established in 1991. It delivers a comprehensive suite of investment and trading solutions to a diverse clientele, encompassing corporate entities, institutional investors, and individual clients across China. The company's operations are structured across four core divisions: Wealth Management and Institutional Business, Investment Banking, Investment Management, and Investment and Trading. Under its Wealth Management and Institutional Business arm, the firm offers strategic investment advice, personalized portfolio creation, product distribution, and asset allocation strategies. It also facilitates capital-based intermediary services, such as margin financing, securities lending, and stock repurchase agreements. Furthermore, this segment provides specialized services for institutional players like funds and insurance companies, including investment research, sales and trading support, and prime brokerage. The Investment Banking division specializes in a broad spectrum of services, from facilitating domestic and international equity and debt financing, to underwriting equity and bond issuances. It also handles structured financing arrangements, assists with Over-the-Counter (OTC) listings, advises on mergers and acquisitions (M&A), and provides general financial advisory expertise. Within Investment Management, the company provides diverse asset management solutions, including collective investment schemes, separately managed accounts, specialized asset management mandates, and comprehensive equity investment fund management. Finally, the Investment and Trading segment is actively involved in proprietary trading across various asset classes, such as equities, fixed-income instruments, commodities, foreign exchange, and alternative investments, including derivatives. This segment further provides Over-the-Counter (OTC) financial products, acts as a market maker, and offers insurance agency services.

Sector
Financial Services
Industry
Financial - Capital Markets
Exchange
CG
CEO
Da Huo
Headquarters
Shenzhen, GD, CN
IPO Date
Nov 17, 2009
Employees
12,767
Website
www.cmschina.com

Key Metrics

Price
$17.07
Market Cap
$148.45B
Revenue (TTM)
$10.96B
Net Income (TTM)
$7.35B
EPS (TTM)
0.85
P/E (TTM)
11.19
P/B (TTM)
1.18
Dividend Yield
2.91%
ROE (TTM)
2.31%
ROA (TTM)
0.41%
Operating Margin
45.11%
Beta
0.05

Dividends

Last Dividend
$0.12
Last Yield
0.03%

Summary

Headquartered in Shenzhen, People's Republic of China, China Merchants Securities Co., Ltd. is a prominent financial services firm established in 1991. It delivers a comprehensive suite of investment and trading solutions to a diverse clientele, encompassing corporate entities, institutional investors, and individual clients across China. The company's operations are structured across four core divisions: Wealth Management and Institutional Business, Investment Banking, Investment Management, and Investment and Trading. Under its Wealth Management and Institutional Business arm, the firm offers strategic investment advice, personalized portfolio creation, product distribution, and asset allocation strategies. It also facilitates capital-based intermediary services, such as margin financing, securities lending, and stock repurchase agreements. Furthermore, this segment provides specialized services for institutional players like funds and insurance companies, including investment research, sales and trading support, and prime brokerage. The Investment Banking division specializes in a broad spectrum of services, from facilitating domestic and international equity and debt financing, to underwriting equity and bond issuances. It also handles structured financing arrangements, assists with Over-the-Counter (OTC) listings, advises on mergers and acquisitions (M&A), and provides general financial advisory expertise. Within Investment Management, the company provides diverse asset management solutions, including collective investment schemes, separately managed accounts, specialized asset management mandates, and comprehensive equity investment fund management. Finally, the Investment and Trading segment is actively involved in proprietary trading across various asset classes, such as equities, fixed-income instruments, commodities, foreign exchange, and alternative investments, including derivatives. This segment further provides Over-the-Counter (OTC) financial products, acts as a market maker, and offers insurance agency services.

Website
www.cmschina.com
Location
Shenzhen, GD, CN
Phone86 755 8294 3666
Employees12,767
CEODa Huo
SectorFinancial Services
IndustryFinancial - Capital Markets
IPO DateNov 17, 2009

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Key Stats

Trading

Px/Chg 1D$17.07 / +0.77%
Avg Volume60.86M
Beta0.05
Mkt Cap148.45B
FD Mkt Cap162.71B

Float

Shrs Out/Float8.70B / 2.32B
Short Float0.00%
Days to Cover0.00
Stock Repurchased$0.00

Current Valuation

EV373.04B
EV/EBITDA1.38
EV/Sales0.67
P/B1.18
P/S4.80
FCF Yield13.15%
ROE2.31%
ROA0.41%
Current Ratio2.20

Dividend

Cash$0.12
Yield2.91%
Yield (TTM)2.91%

Estimates

P/E11.19
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMar '23Mar '24Mar '25Mar '26Sep '26
PRICE-BASED RATIOS
Price / Earnings20.7014.9113.8515.8138.7620.19
Price / Sales10.796.326.177.8720.0313.55
Price / Book Value1.091.051.001.260.991.18
Price / Free Cash Flow3.431.944.583.040.007.60
ENTERPRISE VALUE METRICS
Enterprise Value149,224.473,099.592,577.174,526.6132,882.9373,036.1
Enterprise Value / Sales13.243.844.713.5720.0334.04
Enterprise Value / EBITDA14.730.000.000.0033.1140.53
Enterprise Value / EBIT14.730.000.000.0033.1140.53

Financials

Full Financials
Millions CNY5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue-4%29,315.419,056.519,675.520,857.824,899.6
Gross Income-4%29,315.419,056.519,675.520,857.824,899.6
EBITDA—----13,990.1
EBIT—----13,990.1
Net Income1.4%11,645.18,070.28,764.010,385.912,299.7
EPS (Diluted)3.1%1.250.860.941.131.41
BALANCE SHEET
Cash & ST Inv—225,639.9230,936.5244,327.5286,241.0-
Total Assets6%597,221.1611,677.0695,853.0721,160.3753,349.9
Total Liabilities6.3%484,630.7496,419.9573,816.1590,908.1618,637.4
Total Shareholder Equity4.6%112,503.0115,174.6121,961.4130,178.6134,712.5
CASH FLOW
Net Operating Cash Flow—-41,193.162,503.827,103.754,726.2-
Cap Ex—-412.8-560.2-608.2-763.7-
Free Cash Flow—-41,605.861,943.626,495.553,962.5-

Enterprise Value Bridge

Millions CNY23 Oct '26
Price (As of 23 Oct '26)15.71
Basic Shares8,696.53
Market Cap136,622.4
Diluted Shares8,696.53
Fully Diluted Shares Outstanding8,696.53
Fully Diluted Market Cap136,622.4
+Consolidated Debt249,126.7
−In-the-Money Convertible Debt—
+Capital Leases651.4
+Operating Leases—
−Cash & Equivalents-24,586.5
−Short-term Investments-
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest46.1
+Pension Liabilities—
Enterprise Value361,208.8

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