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China Merchants Bank Co., Ltd., together with its subsidiaries, provides various banking products and services. It operates through Wholesale Finance Business, Retail Finance Business, and Other Business segments. It offers current, demand, time, call, savings, notice, and renminbi accounts. The company also offers loan products include personal commercial real estate, consumption, housing, and car loans; loans to finance for studying abroad; micro-business loans; mortgage loans for equipment; joint guarantee, special guarantee, and housing mortgage loan; bank acceptance, discount, liquid capital, and fixed asset loans; and loans for vessels. In addition, it offers credit cards; insurance products; open-ended funds; discount and guarantees for commercial bills, redemption of commercial bills, and guaranteed discount for commercial acceptance bills; and financial consultation, debt financing underwriting, merger and acquisition financing, and equity financing and enterprise listing services. Further, the company provides forfeiting and risk participation, escrow, cross-border RMB clearing, and interbank services; and risk and financial management, cross-border RMB and oversea financing, international factoring and settlement, and trade finance services. Additionally, it offers financial leasing and guarantee, investment and wealth management, forex option and gold trading, forex express trading, international, offshore and private banking, custody, pension, and electronic banking services. The company also operates in Hong Kong, New York, London, Singapore, Luxembourg, and Sydney. The company was founded in 1987 and is headquartered in Shenzhen, China.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
China Merchants Bank (Class H) is a large Chinese commercial bank providing retail, corporate and transaction services through branches and digital channels. Long-term growth may be supported by rising retail financial penetration, expanding fee-based wealth-management products and digitalization that could improve efficiency. The bank appears positioned to benefit from scale and a broad deposit franchise that could support earnings stability.
Key investment risks include exposure to deteriorating asset quality—notably property-related and SME loans—sensitivity to Chinese economic and regulatory developments and pressure on net interest margins from competition and rate shifts.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 178993.00M | 178652.00M | 176618.00M | 165113.00M | 148173.00M |
| Minority interest | -945.00M | -1168.00M | -1404.00M | -1282.00M | -912.00M |
| Net income | 150181.00M | 148391.00M | 146602.00M | 138012.00M | 119922.00M |
| Selling general administrative | 107952.00M | 34498.00M | 50738.00M | 113375.00M | 109727.00M |
| Selling and marketing expenses | - | - | 19201.00M | - | - |
| Gross profit | 332059.00M | 334856.00M | 336647.00M | 342258.00M | 327223.00M |
| Reconciled depreciation | 15392.00M | 15590.00M | 15439.00M | 14606.00M | 5412.00M |
| Ebit | 178993.00M | 178652.00M | 176618.00M | 163831.00M | 147261.00M |
| Ebitda | 194385.00M | 194242.00M | 192057.00M | 178437.00M | 160792.00M |
| Depreciation and amortization | 15392.00M | 15590.00M | 15439.00M | 14606.00M | 13531.00M |
| Operating income | 178993.00M | 178652.00M | 176618.00M | 163831.00M | 147261.00M |
| Other operating expenses | 288824.00M | 319198.00M | 320970.00M | 122061.00M | 116879.00M |
| Interest expense | 135758.00M | 162994.00M | 160941.00M | 135145.00M | 123137.00M |
| Tax provision | 27867.00M | 29093.00M | 28612.00M | 25819.00M | 27339.00M |
| Interest income | 351351.00M | 374271.00M | 375610.00M | 353380.00M | 327056.00M |
| Net interest income | 215593.00M | 211277.00M | 214669.00M | 218235.00M | 203919.00M |
| Income tax expense | 27867.00M | 29093.00M | 28612.00M | 25819.00M | 27339.00M |
| Total revenue | 467817.00M | 497850.00M | 497588.00M | 342258.00M | 327223.00M |
| Total operating expenses | 153066.00M | 156204.00M | 160029.00M | 122061.00M | 116879.00M |
| Cost of revenue | 135758.00M | 162994.00M | 160941.00M | - | - |
| Total other income expense net | - | -88122.00M | -89645.00M | 1282.00M | 912.00M |
| Net income from continuing ops | 151126.00M | 149559.00M | 148006.00M | 139294.00M | 120834.00M |
| Net income applicable to common shares | - | - | - | - | 116309.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 13070523.00M | 12152036.00M | 11028483.00M | 10138912.00M | 9249021.00M |
| Intangible assets | 6000.00M | 6406.00M | 7095.00M | 7968.00M | 8802.00M |
| Other current assets | - | - | 1514888.00M | - | 949612.00M |
| Total liab | 11789624.00M | 10918561.00M | 9942754.00M | 429691.00M | 631107.00M |
| Total stockholder equity | 1272875.00M | 1226014.00M | 953392.00M | 945503.00M | 858745.00M |
| Deferred long term liab | - | - | - | - | 1867.00M |
| Other current liab | 10992715.00M | 9951052.00M | -19083.00M | - | 85285.00M |
| Common stock | 25220.00M | 25220.00M | 25220.00M | 25220.00M | 25220.00M |
| Capital stock | 52688.00M | 52688.00M | 52688.00M | 52688.00M | 59285.00M |
| Retained earnings | 679808.00M | 634078.00M | 818590.00M | 492971.00M | 428592.00M |
| Other liab | - | - | - | - | 157933.00M |
| Good will | 9954.00M | 9954.00M | 9954.00M | 9999.00M | 9954.00M |
| Other assets | - | 12152036.00M | -5495271.00M | 6233058.00M | 6066918.00M |
| Cash | 1321522.00M | 1212666.00M | 1073586.00M | 960911.00M | 846618.00M |
| Total current liabilities | 11007428.00M | 9962765.00M | 4897000.00M | 8579918.00M | 7752644.00M |
| Current deferred revenue | - | - | 5486.00M | - | - |
| Net debt | -916081.00M | -741591.00M | -1073586.00M | -531220.00M | -215511.00M |
| Short term debt | - | - | 114033.00M | - | - |
| Short long term debt total | 405441.00M | 471075.00M | 1582837.00M | 429691.00M | 631107.00M |
| Other stockholder equity | 540379.00M | 539248.00M | -122978.00M | 399844.00M | 370868.00M |
| Property plant equipment | - | - | - | - | 92688.00M |
| Total current assets | 1969318.00M | 1212666.00M | 2588474.00M | 960911.00M | 846618.00M |
| Long term investments | 4186858.00M | 3736588.00M | 3239243.00M | 2815204.00M | 2224041.00M |
| Net tangible assets | - | - | - | - | 805924.00M |
| Short term investments | 647796.00M | - | -3193920.00M | - | - |
| Net receivables | - | - | - | - | 321.00M |
| Inventory | - | - | - | - | 513.00M |
| Accounts payable | - | - | 20845.00M | - | 7098332.00M |
| Accumulated other comprehensive income | - | 261664.00M | 205092.00M | - | - |
| Non currrent assets other | 3797507.00M | 4619762.00M | 10546599.00M | -2944943.00M | -2335485.00M |
| Non current assets total | 11101205.00M | 10939370.00M | 13935280.00M | 2944943.00M | 2335485.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -309540.00M | -292859.00M | -432684.00M | -513926.00M | -64646.00M |
| Change to liabilities | - | - | - | 0.00M | 0.00M |
| Total cashflows from investing activities | -324920.00M | -292859.00M | - | - | -19697.00M |
| Net borrowings | -36245.00M | 72687.00M | - | - | 3266.00M |
| Total cash from financing activities | -169938.00M | 2149.00M | 546707.00M | -297032.00M | 89359.00M |
| Change to operating activities | - | - | - | - | 54603.00M |
| Net income | 151126.00M | 149559.00M | 148006.00M | 139294.00M | 120834.00M |
| Change in cash | -46705.00M | 157508.00M | 31821.00M | -234556.00M | 248964.00M |
| Begin period cash flow | 756527.00M | 599019.00M | 567198.00M | 801754.00M | 552790.00M |
| End period cash flow | 709822.00M | 756527.00M | 599019.00M | 567198.00M | 801754.00M |
| Total cash from operating activities | 451457.00M | 447023.00M | 211554.00M | 570143.00M | 182048.00M |
| Depreciation | 15392.00M | 15590.00M | 15439.00M | 14606.00M | 13531.00M |
| Other cashflows from investing activities | 13074.00M | 10757.00M | - | - | 71197.00M |
| Dividends paid | 61752.00M | 61031.00M | 44828.00M | 56503.00M | 47083.00M |
| Change to account receivables | -586869.00M | -551049.00M | -558149.00M | - | - |
| Sale purchase of stock | - | - | - | -7196.00M | - |
| Other cashflows from financing activities | -71941.00M | -6621.00M | 613222.00M | 106810.00M | 439588.00M |
| Change to netincome | - | - | - | - | -6982.00M |
| Capital expenditures | 28141.00M | 34930.00M | 30161.00M | 34892.00M | 24160.00M |
| Change in working capital | 360362.00M | 357240.00M | 253745.00M | 446852.00M | 54603.00M |
| Stock based compensation | - | - | -18.12M | -41.07M | 17.31M |
| Other non cash items | -75423.00M | -75366.00M | -205654.12M | -30609.00M | -6920.00M |
| Free cash flow | 423316.00M | 412093.00M | 181393.00M | 535251.00M | 157888.00M |
Sector: Financial Services Industry: Banks - Regional
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| CIHHF China Merchants Bank Co Ltd Class H |
- -% |
6.66 | 7.70 | 7.10 | 0.55 | 0.83 | 3.51 |
| DBSDY DBS Group Holdings Ltd ADR |
-2.95 1.31% |
221.60 | 20.00 | 17.57 | 7.54 | 3.17 | 13.19 |
| CIHKY China Merchants Bank Co Ltd |
-0.72 2.15% |
33.05 | 7.79 | 7.20 | 0.55 | 0.85 | 3.51 |
| UNCFF UniCredit SpA |
1.29 1.58% |
82.76 | 11.53 | 10.27 | 5.72 | 1.83 | 8.22 |
| IITSF Intesa Sanpaolo S.p.A |
-0.12 1.78% |
6.62 | 12.14 | 10.32 | 5.17 | 1.69 | 7.20 |
China Merchants Bank Co., Ltd., together with its subsidiaries, provides various banking products and services. It operates through Wholesale Finance Business, Retail Finance Business, and Other Business segments. It offers current, demand, time, call, savings, notice, and renminbi accounts. The company also offers loan products include personal commercial real estate, consumption, housing, and car loans; loans to finance for studying abroad; micro-business loans; mortgage loans for equipment; joint guarantee, special guarantee, and housing mortgage loan; bank acceptance, discount, liquid capital, and fixed asset loans; and loans for vessels. In addition, it offers credit cards; insurance products; open-ended funds; discount and guarantees for commercial bills, redemption of commercial bills, and guaranteed discount for commercial acceptance bills; and financial consultation, debt financing underwriting, merger and acquisition financing, and equity financing and enterprise listing services. Further, the company provides forfeiting and risk participation, escrow, cross-border RMB clearing, and interbank services; and risk and financial management, cross-border RMB and oversea financing, international factoring and settlement, and trade finance services. Additionally, it offers financial leasing and guarantee, investment and wealth management, forex option and gold trading, forex express trading, international, offshore and private banking, custody, pension, and electronic banking services. The company also operates in Hong Kong, New York, London, Singapore, Luxembourg, and Sydney. The company was founded in 1987 and is headquartered in Shenzhen, China.
No. 7088, Shennan Boulevard, Shenzhen, China, 518040
86 755 8319 8888
121959
| Name | Title | Year Born |
|---|---|---|
| Mr. Liang Wang | Pres, Sec. of the Board, CFO, Joint Company Sec. & Exec. Director | 1965 |
| Mr. Shunhua Shi | Exec. VP & GM of Shanghai Branch | 1962 |
| Mr. Jianzhong Wang | Exec. VP | 1962 |
| Mr. Wang Yungui | Exec. VP | 1963 |
| Mr. Delin Li | Exec. VP | 1974 |
| Ms. Hui Liu | Exec. Assistant Pres | 1970 |
| Mr. Jiangtao Zhu Msc | Chief Risk Officer & Exec. VP | 1972 |
| Mr. Desheng Zhong | Exec. Assistant Pres | 1967 |
| Mr. Xiaoqing Wang | Exec. Assistant Pres | 1971 |
| Cheng Ting Nan CPA, FCCA | Qualified Accountant | NA |
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