Want to see HK:6099 full AI Analyst Report?
Top Page
China Merchants Securities Co., Ltd. Class H
(6099)
Select Model
Select Model
Rating:60Neutral
Price Target:
HK$13.00
â–¼(-7.74% Downside)
Action:Reiterated
Date:10/31/26
The score is primarily driven by mixed financial quality (strong earnings but high leverage and recent negative cash flow) and weak technical momentum. These risks are partially offset by notably cheap valuation and a high dividend yield.
Positive Factors
Strong profitability and growth
Strong latest-period profitability and revenue growth indicate that the firm is converting its capital-markets franchise into substantial earnings. The recovery in profits versus earlier years supports reinvestment capacity and provides a durable base for serving clients across market cycles.
Negative Factors
Elevated leverage
Elevated leverage reduces financial flexibility when market conditions become difficult and leaves less balance-sheet capacity for new opportunities. It can also increase sensitivity to funding conditions, making earnings and capital allocation less resilient during weaker capital-markets periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and growth
Strong latest-period profitability and revenue growth indicate that the firm is converting its capital-markets franchise into substantial earnings. The recovery in profits versus earlier years supports reinvestment capacity and provides a durable base for serving clients across market cycles.
Read all positive factors
China Merchants Securities Co., Ltd. Class H (6099) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$151.36B
Dividend Yield5.76%
Average Volume (3M)2.57M
Price to Earnings (P/E)6.5
Beta (1Y)1.02
Revenue Growth97.85%
EPS Growth74.02%
CountryHK
Employees12,792
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)2.31
Shares Outstanding1,274,521,500
10 Day Avg. Volume2,517,835
30 Day Avg. Volume2,570,482
Financial Highlights & Ratios
PEG Ratio0.56
Price to Book (P/B)0.90
Price to Sales (P/S)2.68
P/FCF Ratio-3.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$15.93Price Target Upside13.02% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)3.01
Revenue Forecast (FY)HK$50.64B
China Merchants Securities Co., Ltd. Class H Business Overview & Revenue Model
Company Description
China Merchants Securities Co., Ltd. is a prominent financial services firm operating across the People's Republic of China, catering to a diverse clientele including corporate entities, institutional investors, and individual clients. The company...
China Merchants Securities Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.54B | 40.68B | 28.29B | 27.81B | 26.88B | 37.48B |
| Gross Profit | 76.94B | 32.34B | 19.40B | 18.28B | 17.56B | 27.83B |
| EBITDA | 37.73B | 18.71B | 12.08B | 9.88B | 9.07B | 14.23B |
| Net Income | 27.42B | 12.03B | 10.39B | 8.76B | 8.07B | 11.65B |
Balance Sheet | ||||||
| Total Assets | 816.47B | 753.80B | 721.16B | 695.85B | 611.68B | 597.22B |
| Cash, Cash Equivalents and Short-Term Investments | 640.05B | 348.18B | 286.24B | 244.33B | 230.94B | 225.64B |
| Total Debt | 221.05B | 389.92B | 196.54B | 215.43B | 183.59B | 187.54B |
| Total Liabilities | 666.15B | 632.70B | 590.91B | 573.82B | 496.42B | 484.63B |
| Stockholders Equity | 150.27B | 121.06B | 130.18B | 121.96B | 115.17B | 112.50B |
Cash Flow | ||||||
| Free Cash Flow | -15.73B | -36.24B | 53.96B | 26.50B | 61.94B | -41.61B |
| Operating Cash Flow | -14.60B | -35.54B | 54.73B | 27.10B | 62.50B | -41.19B |
| Investing Cash Flow | -53.03B | 3.34B | -14.26B | -24.09B | -19.13B | 13.81B |
| Financing Cash Flow | 61.99B | 25.89B | -10.36B | 7.70B | -21.01B | 35.72B |
China Merchants Securities Co., Ltd. Class H Technical Analysis
Negative
14.09
Price Trends
14.29
Negative
14.88
Negative
14.24
Negative
Market Momentum
-0.60
Positive
32.23
Neutral
10.53
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6099, the sentiment is Negative. The current price of 14.09 is above the 20-day moving average (MA) of 13.30, below the 50-day MA of 14.29, and below the 200-day MA of 14.24, indicating a bearish trend. The MACD of -0.60 indicates Positive momentum. The RSI at 32.23 is Neutral, neither overbought nor oversold. The STOCH value of 10.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6099.
China Merchants Securities Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$307.29B | 8.30 | 10.01% | 5.73% | 37.61% | -2.94% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | HK$170.74B | 7.55 | 10.67% | 4.54% | 123.03% | 20.90% | |
63 Neutral | HK$222.36B | 9.73 | 11.77% | 2.14% | 20.32% | 82.47% | |
61 Neutral | HK$417.31B | 9.88 | 12.77% | 3.97% | 101.98% | 67.41% | |
60 Neutral | HK$151.36B | 6.54 | 15.54% | 5.76% | 97.85% | 74.02% | |
54 Neutral | HK$178.12B | 13.40 | 14.85% | 3.71% | 5.66% | 47.31% |
* Financial Sector Average
HK:6099
China Merchants Securities Co., Ltd. Class H
12.30
-2.65
-17.74%
HK:6030
CITIC Securities Co
19.88
-8.83
-30.76%
HK:3908
China International Capital
16.97
-3.80
-18.29%
HK:6886
Huatai Securities Co
14.72
-4.06
-21.63%
HK:6066
CSC Financial Co., Ltd. Class H
10.29
-2.46
-19.32%
HK:2611
Guotai Junan Securities Co., Ltd. Class H
13.02
-1.11
-7.82%
China Merchants Securities Co., Ltd. Class H Corporate Events
China Merchants Securities Issues Unaudited Third-Quarter 2026 Report With Strong Governance Assurances
Oct 29, 2026
China Merchants Securities Co., Ltd. has released its third quarterly report for 2026 covering the nine months ended 30 September, prepared under China Accounting Standards for Business Enterprises and currently unaudited. The announcement, issued...
China Merchants Securities to Launch RMB5 Billion AI Industry Private Equity Fund
Oct 29, 2026
China Merchants Securities has approved the creation of the China Merchants (Shenzhen) Artificial Intelligence Industry Private Equity Investment Fund Partnership, a RMB5 billion vehicle managed by wholly owned unit CMS Zhiyuan Capital. The fund w...
China Merchants Securities Shareholders Approve New Executive Director at 2026 EGM
Oct 29, 2026
China Merchants Securities Co., Ltd. has reported the poll results of its first extraordinary general meeting of 2026, held in Shenzhen on October 29, confirming that all meeting procedures, attendance qualifications, and voting processes complied...
China Merchants Securities Details Board and Committee Structure
Oct 29, 2026
China Merchants Securities has disclosed the composition of its board of directors, detailing executive, non-executive, independent non-executive, and employee representative roles. The announcement underlines the company’s governance struct...
China Merchants Securities Sets Board Meeting to Approve Q3 2026 Results
Oct 15, 2026
China Merchants Securities Co., Ltd. has scheduled a board meeting for October 29, 2026 in order to review and approve the unaudited third-quarter results for the nine months ended September 30, 2026. The company intends to proceed with the public...
China Merchants Securities Sets October EGM to Elect New Executive Director
Oct 8, 2026
China Merchants Securities Co., Ltd. has convened its first extraordinary general meeting of 2026 for October 29 in Shenzhen, calling shareholders together to vote on the proposed election of Mr. Liu Bo as an executive director for the companyR...
China Merchants Securities Sets Out New Board and Committee Structure
Sep 30, 2026
China Merchants Securities has announced the updated composition of its board of directors, led by executive director and chairman Zhu Jiangtao, and comprising non-executive, independent non-executive and employee representative directors. The str...
China Merchants Securities Names Liu Bo President and Proposed Executive Director
Sep 30, 2026
China Merchants Securities has appointed Liu Bo as president, effective 30 September 2026, succeeding board chairman Zhu Jiangtao in the executive role and ending Liu’s tenure as vice president. Liu brings nearly 25 years of experience from ...
China Merchants Securities Names Compliance Chief Xiong Zhigang as Employee Director
Sep 23, 2026
China Merchants Securities has appointed 49-year-old legal and compliance executive Xiong Zhigang as the employee representative director on its eighth board, with his term running from September 23, 2026 until the end of the board’s tenure....
China Merchants Securities Defines Board Roles and Committee Structure
Sep 23, 2026
China Merchants Securities has announced the current composition of its board of directors, detailing executive, non-executive, independent non-executive and employee representative members, with Zhu Jiangtao serving as chairman and acting preside...
China Merchants Securities Revamps Governance Roles and Gains Listing Rules Waiver
Aug 25, 2026
China Merchants Securities Co., Ltd., a major Chinese securities firm with brokerage, finance and strategic development capabilities, operates primarily in mainland China with international arms in Hong Kong. Its governance framework blends intern...
China Merchants Securities Details Board and Committee Structure
Aug 25, 2026
China Merchants Securities has announced the current composition of its board of directors, led by Executive Director and Chairman Zhu Jiangtao, who is also acting as President, alongside a slate of non-executive and independent non-executive dire...
China Merchants Securities Declares Interim Dividend with Detailed Cross-Border Tax Rules
Aug 25, 2026
China Merchants Securities Co., Ltd., a Hong Kong-listed securities firm, offers brokerage and capital markets services to both domestic and overseas investors through its H shares. The stock is accessible via Shanghai-Hong Kong Stock Connect and ...
China Merchants Securities Publishes 2026 Interim Results and Report
Aug 25, 2026
China Merchants Securities Co., Ltd. has released its unaudited interim results for the six months ended 30 June 2026, complying with Hong Kong listing requirements for preliminary interim disclosures. The announcement confirms that the full inter...
China Merchants Securities Sets 2026 Interim Dividend and Tax Terms for H Shareholders
Aug 25, 2026
China Merchants Securities has declared a 2026 interim cash dividend of RMB1.67 per ten shares for the six months ended June 30, 2026, payable on October 16, 2026 to holders of H shares. The dividend will be paid in RMB to A shareholders and conve...
China Merchants Securities Raises Caps on Intra-Group Procurement Deals
Aug 25, 2026
China Merchants Securities Co., Ltd., a major Chinese brokerage and investment banking firm with H shares traded in Hong Kong, relies on China Merchants Group for certain administrative and office-related services that underpin its financial opera...
China Merchants Securities Sets August Board Meeting to Approve Interim Results
Aug 11, 2026
China Merchants Securities has scheduled a board meeting for August 25, 2026 to review and approve the interim results for the six months ended June 30, 2026, and to authorize their publication. The board will also consider whether to recommend an...
China Merchants Securities Non-Executive Director Li Delin Resigns
Aug 10, 2026
China Merchants Securities announced the resignation of non-executive director Li Delin, who also served on the strategy and sustainability committee, chaired the risk management committee and sat on the remuneration and appraisal committee, effec...
China Merchants Securities Updates Board and Committee Line-Up
Aug 10, 2026
China Merchants Securities has released an updated list of its board of directors, detailing the mix of executive, non-executive, independent non-executive and employee representative directors who oversee the securities firm. The announcement und...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.