China Merchants Securities (CMSC) reported a strong first half-year performance for 2026, with total revenue, other income and gains rising 80.86 % year on year to RMB 27.27 billion. Net profit attributable to shareholders doubled to RMB 10.62 billion, driven by broad-based growth across business lines.

Wealth management and institutional services generated RMB 12.47 billion, up 39.74 %, accounting for 45.7 % of group revenue. Investment and trading contributed RMB 12.75 billion, a 164.6 % increase that lifted its revenue share to 46.7 %. Investment management revenue more than doubled to RMB 1.30 billion, while investment banking income grew 51.9 % to RMB 0.64 billion.

Earnings per share rose to RMB 1.19 from RMB 0.56. The weighted average return on equity improved to 8.22 %, up 4.04 percentage points.

The board approved an interim cash dividend of RMB 1.67 (tax inclusive) for every 10 shares, with no bonus shares or capital reserve conversion. No appropriation to statutory reserves is planned for the interim period.

Total assets reached RMB 871.41 billion, a 15.65 % increase over year-end 2025, while equity attributable to shareholders expanded 4.91 % to RMB 144.79 billion. Net capital stood at RMB 87.09 billion; the risk coverage ratio was 227.55 %, and the capital leverage ratio was 11.48 %, both meeting regulatory requirements.

CMSC’s liquidity remained solid: cash and cash equivalents rose to RMB 29.97 billion at period end, versus RMB 21.17 billion six months earlier. Operating cash outflow totaled RMB 3.64 billion, while financing activities provided RMB 15.25 billion, driven by bond issuance.

The company highlighted robust risk management, stating that all risk control indicators stayed within CSRC thresholds. Major business qualifications remained intact, and no compliance or safety incidents were recorded.

Looking ahead, CMSC said it will continue to advance its five-year strategic plan, deepen technology-driven initiatives, and pursue balanced growth across wealth management, investment banking, investment management, and trading.