China Merchants Securities Co Ltd (600999) - Net Assets

Latest as of September 2025: CN¥117.71 Billion CNY ≈ $17.23 Billion USD

Based on the latest financial reports, China Merchants Securities Co Ltd (600999) has net assets worth CN¥117.71 Billion CNY (≈ $17.23 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥745.63 Billion ≈ $109.11 Billion USD) and total liabilities (CN¥627.92 Billion ≈ $91.88 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric Value
Current Net Assets CN¥117.71 Billion
% of Total Assets 15.79%
Annual Growth Rate 24.24%
5-Year Change 23.08%
10-Year Change 168.94%
Growth Volatility 47.66

China Merchants Securities Co Ltd - Net Assets Trend (2004–2024)

This chart illustrates how China Merchants Securities Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for China Merchants Securities Co Ltd (2004–2024)

The table below shows the annual net assets of China Merchants Securities Co Ltd from 2004 to 2024.

Year Net Assets Change
2024-12-31 CN¥130.25 Billion
≈ $19.06 Billion		 +6.73%
2023-12-31 CN¥122.04 Billion
≈ $17.86 Billion		 +5.88%
2022-12-31 CN¥115.26 Billion
≈ $16.87 Billion		 +2.37%
2021-12-31 CN¥112.59 Billion
≈ $16.48 Billion		 +6.39%
2020-12-31 CN¥105.82 Billion
≈ $15.49 Billion		 +24.31%
2019-12-31 CN¥85.13 Billion
≈ $12.46 Billion		 +5.46%
2018-12-31 CN¥80.72 Billion
≈ $11.81 Billion		 +1.75%
2017-12-31 CN¥79.33 Billion
≈ $11.61 Billion		 +32.41%
2016-12-31 CN¥59.92 Billion
≈ $8.77 Billion		 +23.71%
2015-12-31 CN¥48.43 Billion
≈ $7.09 Billion		 +16.43%
2014-12-31 CN¥41.60 Billion
≈ $6.09 Billion		 +53.01%
2013-12-31 CN¥27.18 Billion
≈ $3.98 Billion		 +5.50%
2012-12-31 CN¥25.77 Billion
≈ $3.77 Billion		 +4.45%
2011-12-31 CN¥24.67 Billion
≈ $3.61 Billion		 +2.89%
2010-12-31 CN¥23.98 Billion
≈ $3.51 Billion		 +6.01%
2009-12-31 CN¥22.62 Billion
≈ $3.31 Billion		 +177.91%
2008-12-31 CN¥8.14 Billion
≈ $1.19 Billion		 +7.42%
2007-12-31 CN¥7.58 Billion
≈ $1.11 Billion		 +81.83%
2006-12-31 CN¥4.17 Billion
≈ $609.64 Million		 +141.25%
2005-12-31 CN¥1.73 Billion
≈ $252.70 Million		 +1.85%
2004-12-31 CN¥1.70 Billion
≈ $248.11 Million		 --

Equity Component Analysis

This analysis shows how different components contribute to China Merchants Securities Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 3909937364050.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings CN¥38.35 Billion 29.46%
Common Stock CN¥8.70 Billion 6.68%
Other Components CN¥83.14 Billion 63.86%
Total Equity CN¥130.18 Billion 100.00%

China Merchants Securities Co Ltd Competitors by Market Cap

The table below lists competitors of China Merchants Securities Co Ltd ranked by their market capitalization.

Company Market Cap
Falabella
SN:FALABELLA
 		$16.72 Billion
BE SEMICON.INDS NY EO091
F:BSIA
 		$16.74 Billion
Western Midstream Partners LP
NYSE:WES
 		$16.74 Billion
Tourmaline Oil Corp.
TO:TOU
 		$16.75 Billion
Shanghai International Port Group Co Ltd
SHG:600018
 		$16.69 Billion
TELENOR ASA SP.ADR/ O.N.
F:TEQA
 		$16.69 Billion
China Spacesat Co Ltd
SHG:600118
 		$16.66 Billion
Hua Xia Bank Co Ltd
SHG:600015
 		$16.65 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in China Merchants Securities Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 121,961,426,964 to 130,178,629,442, a change of 8,217,202,478 (6.7%).
  • Net income of 10,385,872,407 contributed positively to equity growth.
  • Dividend payments of 8,906,379,617 reduced retained earnings.
  • Other factors increased equity by 6,737,709,688.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income CN¥10.39 Billion +7.98%
Dividends Paid CN¥8.91 Billion -6.84%
Other Changes CN¥6.74 Billion +5.18%
Total Change CN¥- 6.74%

Book Value vs Market Value Analysis

This analysis compares China Merchants Securities Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 1.09x
  • The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
  • The price-to-book ratio has decreased from 31.76x to 1.09x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2004-12-31 CN¥0.48 CN¥15.37 x
2005-12-31 CN¥0.49 CN¥15.37 x
2006-12-31 CN¥1.19 CN¥15.37 x
2007-12-31 CN¥1.50 CN¥15.37 x
2008-12-31 CN¥1.57 CN¥15.37 x
2009-12-31 CN¥4.41 CN¥15.37 x
2010-12-31 CN¥4.25 CN¥15.37 x
2011-12-31 CN¥4.38 CN¥15.37 x
2012-12-31 CN¥4.54 CN¥15.37 x
2013-12-31 CN¥4.84 CN¥15.37 x
2014-12-31 CN¥6.44 CN¥15.37 x
2015-12-31 CN¥6.91 CN¥15.37 x
2016-12-31 CN¥8.36 CN¥15.37 x
2017-12-31 CN¥8.86 CN¥15.37 x
2018-12-31 CN¥8.16 CN¥15.37 x
2019-12-31 CN¥10.53 CN¥15.37 x
2020-12-31 CN¥12.87 CN¥15.37 x
2021-12-31 CN¥12.94 CN¥15.37 x
2022-12-31 CN¥13.24 CN¥15.37 x
2023-12-31 CN¥14.02 CN¥15.37 x
2024-12-31 CN¥14.16 CN¥15.37 x

Capital Efficiency Dashboard

This dashboard shows how efficiently China Merchants Securities Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 7.98%
  • The company has moderate efficiency in generating returns from equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 49.79%
  • • Asset Turnover: 0.03x
  • • Equity Multiplier: 5.54x
  • Recent ROE (7.98%) is below the historical average (13.55%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2004 2.52% 6.45% 0.12x 3.36x CN¥-126.77 Million
2005 3.06% 8.76% 0.08x 4.64x CN¥-119.84 Million
2006 30.05% 51.19% 0.12x 4.74x CN¥835.18 Million
2007 66.83% 52.75% 0.12x 10.74x CN¥4.30 Billion
2008 25.57% 43.58% 0.10x 6.03x CN¥1.23 Billion
2009 16.49% 43.52% 0.09x 4.27x CN¥1.47 Billion
2010 13.47% 52.75% 0.06x 3.98x CN¥831.28 Million
2011 8.14% 40.57% 0.07x 2.79x CN¥-458.61 Million
2012 6.39% 35.28% 0.06x 2.93x CN¥-930.57 Million
2013 8.22% 36.77% 0.07x 3.09x CN¥-483.84 Million
2014 9.27% 35.01% 0.06x 4.66x CN¥-303.05 Million
2015 22.56% 43.29% 0.09x 6.03x CN¥6.07 Billion
2016 9.03% 47.12% 0.05x 4.06x CN¥-579.18 Million
2017 7.30% 42.76% 0.05x 3.61x CN¥-2.14 Billion
2018 5.49% 39.03% 0.04x 3.80x CN¥-3.64 Billion
2019 8.56% 38.88% 0.05x 4.49x CN¥-1.22 Billion
2020 8.98% 39.15% 0.05x 4.73x CN¥-1.08 Billion
2021 10.35% 39.72% 0.05x 5.31x CN¥394.76 Million
2022 7.01% 42.35% 0.03x 5.31x CN¥-3.45 Billion
2023 7.19% 44.54% 0.03x 5.71x CN¥-3.43 Billion
2024 7.98% 49.79% 0.03x 5.54x CN¥-2.63 Billion

Industry Comparison

This section compares China Merchants Securities Co Ltd's net assets metrics with peer companies in the Capital Markets industry.

Industry Context

  • Industry: Capital Markets
  • Average net assets among peers: $5,659,936,341
  • Average return on equity (ROE) among peers: 14.75%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
China Merchants Securities Co Ltd (600999) CN¥117.71 Billion 2.52% 5.33x $16.69 Billion
Shenwan Hongyuan Group Co Ltd (000166) $16.07 Billion 18.21% 3.12x $15.27 Billion
Northeast Securities Co Ltd (000686) $108.22 Million 19.08% 1.68x $2.85 Billion
Guangdong Golden Dragon Development Inc (000712) $106.55 Million 18.07% 0.95x $1.34 Billion
Guoyuan Securities Co Ltd (000728) $1.06 Billion 1.47% 0.71x $4.67 Billion
Sealand Securities Co Ltd (000750) $50.52 Million 29.93% 1.30x $3.56 Billion
GF Securities Co Ltd (000776) $209.03 Million 13.20% 0.91x $17.16 Billion
Changjiang Securities Co Ltd (000783) $9.53 Billion 13.46% 2.75x $5.78 Billion
Shanxi Securities Co Ltd (002500) $18.15 Billion 3.41% 3.27x $2.90 Billion
Western Securities Co Ltd (002673) $3.12 Billion 17.19% 2.98x $4.63 Billion
Huaxi Securities Co Ltd Class A (002926) $8.19 Billion 13.41% 3.50x $3.26 Billion

About China Merchants Securities Co Ltd

SHG:600999 China Capital Markets
Market Cap
$16.69 Billion
CN¥114.08 Billion CNY
Market Cap Rank
#1487 Global
#147 in China
Share Price
CN¥15.37
Change (1 day)
-0.58%
52-Week Range
CN¥15.05 - CN¥19.88
All Time High
CN¥25.07
Categories
Companies in China Capital Markets
About

China Merchants Securities Co., Ltd. engages in the wealth management and institutional, investment banking, investment management, investment, and trading businesses in the People's Republic of China. The company trades in stocks and futures contracts; provides margin financing and securities lending services; and sells financial and other wealth management products. It also offers investment ba… Read more