China Merchants Securities Co., Ltd. (SHA:600999)

Revenue by Segment

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Wealth Management and Institutional Business	13.82B	10.23B	10.01B	11.10B	13.71B
Wealth Management and Institutional Business Growth	35.10%	2.22%	-9.83%	-19.00%	18.18%
Investment Banking	1.03B	857.64M	1.29B	1.39B	2.46B
Investment Banking Growth	20.27%	-33.75%	-6.57%	-43.63%	18.83%
Investment Management (Including Direct Investment Operations)	954.47M	924.04M	926.83M	1.18B	1.74B
Investment Management (Including Direct Investment Operations) Growth	3.29%	-0.30%	-21.53%	-31.96%	13.22%
Investment & Trading	6.94B	6.33B	3.54B	1.79B	5.50B
Investment & Trading Growth	9.56%	79.14%	97.62%	-67.48%	19.75%
Others	2.22B	2.54B	4.05B	3.76B	6.03B
Others Growth	-12.64%	-37.26%	7.78%	-37.59%	34.41%
Total	24.97B	20.89B	19.82B	19.22B	29.43B
Total Growth	19.53%	5.40%	3.13%	-34.69%	21.22%

Revenue by Geography

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Mainland China	23.81B	19.80B	18.92B	18.96B	27.99B
Mainland China Growth	20.27%	4.64%	-0.20%	-32.26%	20.23%
Outside Mainland China	1.16B	1.09B	901.36M	260.84M	1.44B
Outside Mainland China Growth	6.09%	21.42%	245.55%	-81.90%	44.19%
Total	24.97B	20.89B	19.82B	19.22B	29.43B
Total Growth	19.53%	5.40%	3.13%	-34.69%	21.22%

Source: S&P Global Market Intelligence.