On June 24, China Merchants Securities (06099.HK) rose 4.58% in regular trading, trading at HKD 18.0/share, with turnover of HKD 41.57 million.

On the news front, a rare wave of credit rating upgrades for brokerage bonds has been unfolding since June. Multiple brokerages including CICC Wealth Management, Northeast Securities, Great Wall Securities, Huaan Securities, and Zheshang Securities have seen their subordinated bond credit ratings upgraded from AA+ to AAA, reflecting continued strengthening of capital capabilities across the securities industry. Rating agencies cited improvements in governance structure, operating performance, and capital adequacy as key factors behind the upgrades.

China Merchants Securities reported Q1 net profit attributable to shareholders surging 42% year-over-year, with proprietary trading business showing significant improvement. Soochow Securities has assigned a Buy rating to the stock. Among sector peers, CICC gained 1.04%, GTHT rose 0.86%, and GF Securities added 0.28%, indicating continued sector recovery. Industry data shows the securities sector achieved revenue of RMB 541.2 billion and net profit of RMB 219.4 billion in the prior year, up 19.95% and 31.20% respectively.

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