Investment Banking and Brokerage

CMSC

Huo Da Resigns as Chairman of China Merchants Securities, Appointed as Secretary of the Party Committee and General Manager of China Merchants Financial Control

Huatai Securities Raises 2026 Earnings Forecast and Rating for China Merchants Securities

China Merchants Securities reports Q1 revenue of 6.97 billion yuan and net profit of 3.27 billion yuan

CMSC released FY2026 Q1 earnings on April 29 Pre-Market (BJT), actual revenue HKD 8.158 B, actual EPS HKD 0

CMSC to Release FY2026 Q1 Earnings on April 29 Pre-Market (BJT)

China Merchants Securities Breaks Through Revenue and Profit Double Billion Mark in 2025, Stably Ranked in the 'Double Billion' Club

China Merchants Securities' Net Profit Grew by 19% in 2025

CMSC to release FY2025 earnings report on March 27 Pre-Market (BJT), forecast revenue HKD 27.05 B, EPS HKD 1.4663

China Merchants Securities Confirms Coupon Rates for the First Tranche of 2026 Corporate Bonds

CITIC Securities reports 18.43% YoY increase in net profit in 2025

China Merchants Securities First Coverage and Strongly Recommends Le Shufu

China Merchants Securities Announces Earnings Report: Net Profit Grew by 18.43% in 2025

CMSC released FY2025 Annual Earnings on January 27 Pre-Market (BJT), actual revenue HKD 27.21 B (forecast HKD 27.05 B), actual EPS HKD 1.4754 (forecast HKD 1.4663)

CMSC released FY2025 Q4 earnings on January 27 Pre-Market (BJT), actual revenue HKD 7.376 B, actual EPS HKD 0.4233 (forecast EPS HKD 0.345)

China Merchants Securities Responds to Holding Status of CXIC

Xuzhou Xugong Zhiyuan Advanced Intelligent Manufacturing Equity Investment Fund Established

China Securities Rises in 2025 A-Share IPO Market

Investment Fund Raised and Invested in Jiangmen Hexian Baowan Logistics Park

E Fund Management Reduced Its Holdings in China Merchants Securities to 8.91%

China Merchants Securities: Automotive Industry Overall Positive, Acceleration in New Energy and Intelligence

HINSANG GROUP

RIVERINE CHINA

PASHUN INT RTS

BRAINAURORA-B

SOFTMEDX

GOLDENPOWER

ZHONGKE GROUP

VISION SYNERGY

GEMILANG INTL

GHPC

01339

06099

01698

00883

01766

02513

00100

06656

01772

03296

PICC GROUP(01339) rose 7.41%, with a trading turnover 822.3 Million HKD, and a year-to-date fell 16.3%. CMSC(06099) rose 6.48%, with a trading turnover 275.5 Million HKD, and a year-to-date rose 6%. KNOWLEDGE ATLAS(02513) fell 9.41%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 786.4%. MINIMAX-W(00100) fell 7.19%, with a trading turnover 612.5 Million HKD, and a year-to-date rose 350%.

Top Gainers&Losers

PICC GROUP

TME-SW

CNOOC

CRRC

KNOWLEDGE ATLAS

MINIMAX-W

SIGENERGY

GANFENGLITHIUM

HUAQIN

Top 5 HK Stock Gainers/Losers (>100B) (5.19)

600999

HTSC

601688

06886

159842

512880

512000

Huatai Securities reported strong investment performance for CMSCin 1Q26, with operating revenue of RMB6.973 billion (up 47.96% YoY) and net profit of RMB3.271 billion (up 41.73% YoY). The company raised its net interest income forecasts but lowered investment-related income estimates due to geopolitical risks. Revised net profit forecasts for 2026-2028 are RMB14.3 billion, RMB16.1 billion, and RMB17.2 billion, down 2-3% from previous estimates. Huatai set target prices at RMB25.29 for A-shares and HKD21.18 for H-shares, maintaining a Buy rating.

AASTOCKS News

Huatai Securities Co., Ltd. GDR Class A RegS

Yinhua CSI All Share Investment Banking & Brokerage ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

Huatai Securities: CMSC  1Q26 Investment Performance Strong; Cuts Net Profit Forecast

China Merchants Securities Co., Ltd. has nominated Tao Wu and Gao Hong as non-executive directors for its eighth board session, following the resignations of two directors. Their appointments, pending shareholder approval, aim to enhance governance and strategic coordination within the China Merchants conglomerate. Tao brings extensive finance experience, while Gao has a background in insurance and technology, suggesting continuity and expertise in board oversight. The current analyst rating for the stock (HK:6099) is a Hold with a price target of HK$14.50.

Tip Ranks

Cmsk

China Merchants Securities Proposes Two Veteran Executives as New Non-Executive Directors

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600030

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06030

Following Guosen Securities' release of its 2025 performance results, the ranking of the top ten securities firms has been reshuffled. CITIC SEC and GTHT have formed a "two super giants" pattern, with their combined revenue and net profit accounting for nearly 40% of the top ten. GF SEC saw its net profit rise to fourth place, while CMSC fell to sixth. Proprietary trading and brokerage services have become growth engines, with proprietary income among the top ten firms growing 33% year-on-year and brokerage fee income surging 48%. Looking ahead, internationalization and technology empowerment will be key to competition. Overall, the strength of leading brokerages continues to strengthen

- With Guosen Securities releasing its 2025 report, the rankings of the top ten securities firms have been finalized.  
- CITIC Securities and Guotai Junan dominate the industry, together accounting for nearly 40% of total revenue and net profit among the top ten, whose overall performance shows significant growth in proprietary trading and brokerage services.  
- Looking ahead, internationalization and technological empowerment are seen as key competitive areas for leading firms, as market dynamics shift towards a more concentrated landscape.

Wallstreetcn

Guotai Haitong

CITIC Securities Co., Ltd.

GTHT

GF SECURITIES

CITIC SEC

GUOSEN SECURITIES

GF SEC

E Fund CSI Hongkong Bond Investment Theme ETF

Tianhong CSI All Share Investment Banking & Brokerage ETF

Guotai SSE 180 Finance ETF

CICC

Shenwan Hongyuan

SWHY

SWHYHK

Top Ten Brokerages Reshuffled! "Two Super Giants and Multiple Strong Players" Pattern Emerges, Two Business Lines Become Key Tracks

03968

600036

36Kr learned that the Aiqicha App shows that recently, China Merchants Jinling Leasing Co., Ltd. underwent a business change, with Zhang Jian stepping down as the legal representative and chairman, succeeded by Jiang Xiangyang. The company was established in November 2016, with a registered capital of 5.773 billion RMB, and its business scope includes financing leasing services. Shareholder information indicates that the company is wholly owned by China Merchants Financial Holdings Co., Ltd

36Kr

CM BANK

China Merchants Bank

Change of Chairman at China Merchants Industry Holdings Company Limited

512070

513750

CMS announced its 2025 annual performance, with total revenue and earnings of RMB 34.616 billion, a year-on-year increase of 13%. The net profit attributable to shareholders was RMB 12.35 billion, an increase of 18.9%, with earnings per share of RMB 1.35. The final dividend is RMB 4.49 per 10 shares

AASTOCKS

E Fund CSI 300 Financials (ex Banks) ETF

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

"Performance" CMS reported a net profit of RMB 12.35 billion for the year, an increase of 18.9%, with a dividend of RMB 4.49 per 10 shares

601878

China Merchants Securities full-year revenue was RMB 24.97 billion, versus an estimate of RMB 24.74 billion. Full-year net profit was RMB 12.35 billion, versus an estimate of RMB 12.37 billion

Zheshang Securities

CMSC(06099.HK)