China Merchants Securities Co Ltd (600999) — Defensive Interval Ratio

Latest as of September 2025: 98 days

China Merchants Securities Co Ltd (600999) has a Defensive Interval Ratio of 98 days as of September 2025. Defensive assets of CN¥130.12 Billion (cash CN¥-, short-term investments CN¥-, receivables CN¥130.12 Billion) cover 98 days of daily cash needs of CN¥1.33 Billion/day.

Defensive Interval Ratio

98 days
Days of operational coverage

Defensive Assets

CN¥130.12 Billion
Cash + ST Investments + Receivables

Daily Cash Need

CN¥1.33 Billion
Current Liabilities ÷ 365

Current Liabilities

CN¥485.37 Billion
CNY

China Merchants Securities Co Ltd Defensive Interval Ratio (2004–2024)

This chart shows how China Merchants Securities Co Ltd's Defensive Interval Ratio has evolved across 21 annual periods from 2004 to 2024. As of September 2025, the ratio stands at 98 days, meaning defensive assets of CN¥130.12 Billion can fund 98 days of operations without new revenue. For the complete balance sheet picture, see how large is China Merchants Securities Co Ltd's balance sheet.

Annual Defensive Interval Ratio for China Merchants Securities Co Ltd (2004–2024)

The table below presents the year-by-year Defensive Interval Ratio for China Merchants Securities Co Ltd from 2004 to 2024, covering 21 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. See working capital to net assets of China Merchants Securities Co Ltd to evaluate short-term liquidity relative to the company's equity base.

Year DIR (days) Defensive Assets (CNY) Daily Cash Need Cash ST Investments Change (days)
2024 1 days CN¥683.22 Million CN¥630.92 Million/day CN¥- CN¥- ▼ 0 days
2023 1 days CN¥663.59 Million CN¥549.24 Million/day CN¥- CN¥- ▼ -1 days
2022 2 days CN¥959.42 Million CN¥491.03 Million/day CN¥- CN¥- ▼ -1 days
2021 3 days CN¥1.06 Billion CN¥415.97 Million/day CN¥- CN¥- ▼ -1 days
2020 3 days CN¥1.00 Billion CN¥312.73 Million/day CN¥- CN¥- ▼ 0 days
2019 4 days CN¥763.70 Million CN¥210.24 Million/day CN¥- CN¥- ▼ -500 days
2018 504 days CN¥83.78 Billion CN¥166.25 Million/day CN¥- CN¥83.07 Billion ▼ -45 days
2017 549 days CN¥91.36 Billion CN¥166.34 Million/day CN¥- CN¥88.65 Billion ▲ +98 days
2016 451 days CN¥88.90 Billion CN¥196.95 Million/day CN¥- CN¥86.75 Billion ▲ +7 days
2015 444 days CN¥107.83 Billion CN¥242.61 Million/day CN¥- CN¥103.63 Billion ▲ +374 days
2014 70 days CN¥11.17 Billion CN¥158.53 Million/day CN¥- CN¥8.70 Billion ▲ +10 days
2013 60 days CN¥4.51 Billion CN¥74.90 Million/day CN¥- CN¥2.58 Billion ▲ +34 days
2012 26 days CN¥2.21 Billion CN¥83.56 Million/day CN¥- CN¥1.37 Billion ▲ +16 days
2011 10 days CN¥901.59 Million CN¥88.37 Million/day CN¥- CN¥869.03 Million ▲ +8 days
2010 2 days CN¥366.12 Million CN¥161.90 Million/day CN¥- CN¥355.99 Million ▼ -4 days
2009 6 days CN¥1.00 Billion CN¥168.10 Million/day CN¥- CN¥1.00 Billion ▼ 0 days
2008 6 days CN¥520.19 Million CN¥84.19 Million/day CN¥- CN¥40.93 Million ▼ -39 days
2007 45 days CN¥8.72 Billion CN¥194.65 Million/day CN¥- CN¥7.25 Billion ▼ -7 days
2006 52 days CN¥2.18 Billion CN¥41.95 Million/day CN¥- CN¥1.83 Billion ▲ +39 days
2005 13 days CN¥192.78 Million CN¥14.33 Million/day CN¥- CN¥- ▼ 0 days
2004 14 days CN¥125.30 Million CN¥9.26 Million/day CN¥- CN¥- —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)