China Merchants Bank Co., Ltd. (CIHHF) 📈: отчетность и дивиденды за 2025

Capitalization

IFRS

Reporting Annual Quarterly

	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Капитализация, млрд ¥			65.85	54.41	84.36	101.93	122.62	125.62	210.36	163.07	109.62		116.64	146.26	-2.22
Выручка, млрд ¥				208.7	219.9	247.25	267.98	287.6	327.22	342.26	303.48	2 422.76	2 422.76	736.66	53.15
Чистая прибыль, млрд ¥				62.08	70.15	80.56	92.87	97.34	119.92	138.01	149.4	1 073.64	1 073.64	315.66	61.63
EV, млрд ¥	399.84	-119.48				91.59	1 422.95	-201.92	-10.32	378.04	-487.4	-312.36	-312.36	-126.7920	9.12
EBIT, млрд ¥			74.76	78.66	90.19	106.24	116.58	124.32	146.44	162.95	177.46		-2.49	145.55	8.77
EBITDA, млрд ¥			78.68	82.93	95.46	112.07	127.9	134.54	160.79	178.44	194.01		13.75	159.14	8.69
Баланс стоимость, млрд ¥				402.35	480.21	540.12	611.3	723.75	858.75	945.5	971.57	1 215.24	1 215.24	942.96	10.92
FCF, млрд ¥				-138.12	-22	-53.21	-19.53	402.2	157.89	535.25	1 312.42	408.47	408.47	563.25	0.31
Операционный денежный поток, млрд ¥				-120.62	-5.66	-35.72	4.43	421.33	182.05	570.14	2 588.43	443.09	443.09	841.01	1.01
Операционная прибыль, млрд ¥				78.66	90.19	106.24	116.58	121.82	147.26	163.83	271.34	1 571.54	1 571.54	455.16	66.77
Операционные расходы, млрд ¥				65.15	70.43	81.11	91.5	102.81	116.88	122.06	32.14	851.23	851.23	245.02	52.62
CAPEX, млрд ¥				17.5	16.34	17.49	23.96	19.13	24.16	34.89	218.22	34.62	34.62	66.20	12.60

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	5 quarters average	CAGR 5
Капитализация, млрд ¥	207.86	211.39	201.04	157.69	152.75	125.1	147.13	121.63	107.51	85.16						117.31	-7.40
Выручка, млрд ¥						77.43	90.64	625.64	81.82	78.33	86.58	84.6	82.23	81.42	83.5	83.67	-0.72
Чистая прибыль, млрд ¥						31.09	38.84	267.7	38.14	33.55	38.15	36.5	39.63	34.9	37.17	37.27	-0.52
EV, млрд ¥						52.73	58	-2 778.92	296.23	-92.32	115.86	228.98	1 065.51	-343.83	-30.77	207.15	-176.71
EBIT, млрд ¥				35.17	91.3	31.55	42.45	287.63	39.76	78.09	75.51	140.84	45.89			76.02	2.91
EBITDA, млрд ¥				38.96	45.29	35.5	46.49	316.96	43.91	82.35	30.99	143.25	45.81			69.26	0.85
Баланс стоимость, млрд ¥						945.5	981.09	7 086.41	1 012.24	1 103.97	1 121.13	1 105.32	1 188.12	1 215.24	1 242.44	1174.45	2.08
FCF, млрд ¥						414.08	-21.93	731.76	-335.42	2 144.98	-12.2	101.33	176.87	149.59	91.65	101.45	-249.68
Операционный денежный поток, млрд ¥						423.65	-12.62	775.78	-297.2	2 214.47	-1.21	108.91	184.58	158.39	94.74	109.08	-339.19
Операционная прибыль, млрд ¥						35.5	46.49	316.96	43.91	42.16	44.53	43.99	45.89	46.26	56.93	47.52	5.04
Операционные расходы, млрд ¥						37.29	27.32	210.67	28.78	36.76	27.02	29.25	82.23	35.17	26.57	40.05	-0.34
CAPEX, млрд ¥						9.57	9.31	44.02	38.22	69.5	10.99	7.57	7.71	8.8	3.09	7.63	-22.41

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Наличность, млрд ¥					306.25	857.27	913.59	985.54	876.67	846.62	960.91	1 094.05	1 202.01	1 202.01	996.05	6.52
Short Term Investments ¥		329.39	52.94	391.14	411.84	272.14	217.09	158.51				756.38		1 756.09	363.19	12.93
Long term investments ¥			123.21	1 379.82	934.57	1 030.11	1 714.49	433.28	2 130.89	2 224.04	2 815.2	3 239.24			2168.53	49.53
Total Receivables ¥	45.23	253.11	432.31	741	555	600.97	0.321	0.314	0.34	0.321					120.45	-77.84
Total Current Assets ¥					861.24	1 458.24	913.59	985.54	876.67	846.62	960.91	337.67	1 202.01	1 202.01	844.78	6.52
Чистые активы, млрд ¥		23.3	3.42	30.81	43.07	49.18	55.44	80.13	82.31	92.69					71.95	13.51
Активы, млрд ¥					5 942.31	6 297.64	6 745.73	7 417.24	8 361.45	9 249.02	10 138.91	11 238.71	12 045.22	12 045.22	10206.66	7.57
Short Term Debt ¥		373.2	6.03					1 602.21	358.72	475.9	216.41	116.21		255.91	553.89	-40.83
Long Term Debt ¥		173.91	23.1	333.64	641.09	784.95	758.46	683.65							640.36	15.43
Задолженность, млрд ¥					5 538.95	5 814.25	628.88	758.49	503.9	631.11	429.69	10 132.29	10 822.59	10 822.59	4503.92	84.67
Чистый долг, млрд ¥					217.71	-288.06	-284.72	-227.05	-372.77	-215.51	-531.22	-1 094.05	-1 202.01	-1 202.01	-683.1120	26.38
Долг, млрд ¥		547.11	29.13				603.26	2 285.87	458.42	560.93	429.69	1 613.01		1 582.84	1069.58	-6.74
Interest income ¥					215.48	242.01	270.91	292.99	307.43	327.06	353.38	375.61			331.29	5.09
Расходы на обслуживание долга ¥					80.89	97.15	110.53	119.9	122.39	123.14	135.15	164.01	1 179.3	1 179.3	344.80	57.32
Чист. проц. доходы, млрд ¥					134.6	144.85	160.38	173.09	185.03	203.92	218.24	214.67		52.79	198.99	4.40
Goodwill ¥			9.95	9.95	9.95	9.95	9.95	9.95	9.95	9.95	10	9.95			9.96	0.00
Амортизация, млрд ¥					4.26	5.27	5.83	11.32	10.22	14.35	15.49	16.55	112.8	112.8	33.88	61.65
Себестоимость, млрд ¥												-206.83			-206.8300	0.00
Товарно материальные запасы ¥		0.062	0.0587	0.691	0.864	0.868	0.597	0.768	0.612	0.513					0.6716	-9.98

	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	5 quarters average	CAGR 5
Наличность, млрд ¥																							960.91	968.05	7 447.25	965.76	1 101.11	1 204.48	1 099.26	1 178.04	1 202.01	1 151.78	1167.11	-0.89
Short Term Investments ¥				46.7	916.56	613.13	473.09	217.09	371.74	482.99	407.22	158.51																1 188.32					521.76	26.16
Long term investments ¥																		2 265.48	2 224.04	2 416.79	2 554.91	756.98	2 815.2	3 009.16	3 044.89	3 132.44	3 239.24						3048.19	2.85
Total Receivables ¥												0.314	22.94	93.08	0.34	93.2	123.45	0.321	0.321	120.67	101.25												69.20	-3.89
Total Current Assets ¥																							960.91	968.05	7 447.25	965.76	1 101.11	16.16	1 099.26	1 490.89	1 202.01	1 151.78	992.02	134.74
Чистые активы, млрд ¥														87.73	82.31	90.07	88.47	92.84	92.69	107.39	107.02	112.87			882.78								260.55	56.95
Активы, млрд ¥																							10 138.91	10 508.75	77 888.51	10 668.01	11 311.25	11 542.47	11 523.72	12 014.68	12 045.22	12 491.88	11923.59	1.59
Short Term Debt ¥												419.63									309.47		216.41	128.65	1 997.82	121.82	262.47	162.99	323.94	60.62			186.37	-13.03
Long Term Debt ¥	910.68	745.94	1 169.04			119.33	634	758.46	946.81	650.92	1 044.96	683.65																					816.96	-2.06
Задолженность, млрд ¥																							429.69	523.66	3 839.64	500.46	447.74	10 414.8	527.19	10 819.23	10 822.59	11 241.81	8765.12	1.54
Чистый долг, млрд ¥																							-531.22	-444.39	-3 607.61	-465.3	-653.37	-601.16	-572.07	370.18	-1 202.01	-1 151.78	-631.3680	13.89
Долг, млрд ¥												1 103.29										462.54	59.94	72.18	3 839.64	500.46	447.74	603.32	527.19	1 548.22			725.39	25.34
Interest income ¥																		82.66	85.15	86.29	86.58	88.93	91.59	93.34	93.99	93.84	94.44						93.44	0.61
Расходы на обслуживание долга ¥																							35.48	37.94	293.01	40.55	43.13	42.22	41.23	41.97	38.4	35.96	39.96	-3.16
Чист. проц. доходы, млрд ¥																			53.28	54.46	53.23	54.44	56.11	55.41	53.59	53.29	52.38	13.23					45.58	-24.91
Goodwill ¥																		9.95	9.95	9.95	9.95	9.95	10	10	9.95	9.95	9.95						9.97	-0.10
Амортизация, млрд ¥																					3.79	-46.01	3.96	4.04	29.33	4.15	4.25	-44.53	2.41	-0.0856			-6.7611	-146.01
Себестоимость, млрд ¥																														-42.71			-42.7100	0.00
Товарно материальные запасы ¥		0.9803		0.1111				0.597				0.768	0.813		0.612		0.951	0.513	0.513		1.48												0.8138	19.32

Share

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	0.6477	2.08	3.13	3.62	3.79	4.61	5.47	5.74	40.95		40.95	12.11	60.96
Цена акции ао		3.82	3.64	5.05	5.86	7.84	5.56	3.18	4.69	5.09	5.09	5.27	-8.28
Число акций ао, млн	25236.18	25233.81	25738.02	25653.87	25683.91	26013.45	25219.85	188401.56	189689.87		189689.87	91001.73	49.17
FCF/акцию	-5.47	-0.8717	-2.07	-0.7614	15.66	6.07	21.22	6.97	2.15		2.15	10.41	-32.78

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	5 quarters average	CAGR 5
EPS						1.11	0.2251	10.61	1.51	1.4	1.51	1.45	1.57	1.38	1.48		1.48	-0.40
Цена акции ао			7.98	6.25	5.99	4.96	5.83	4.82	4.26	3.56					6.15	5.09	4.78	1.10
Число акций ао, млн	25562.99	26013.45	25190.21	25219.85	25511.56	25219.85	25219.85	25219.85	25219.85	23927.3							24961.34	-1.05
FCF/акцию						16.42	-0.8696	29.02	-13.3	12.31	-0.0669	0.5553	0.9666	0.8175	0.5028		0.5551	-249.69

Efficiency

IFRS

Reporting Annual Quarterly

	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %				15.43	14.61	14.92	15.19	13.45	13.96	4.3	15.22	98.19		98.19	19.76	29.02	48.82
ROA, %				1.04	1.11	1.19	1.25	1.16	1.3	0.3996	1.37	9.22		9.22	4.95	2.69	51.38
ROIC, %	8.04	20.83					4.69	11.68	8.64	33.18	8.12				7.36	13.26	11.60
ROS, %					31.9	32.58	34.65	33.85	36.65	40.32	49.23	44.31	44.31	44.31	26.82	42.96	3.87
ROCE, %				19.5	18.66	1.74	1.75	1.58	1.7	3.24	2.79		-0.2037	-0.2037	9.68	1.82	-166.38
Ebit margin, %							43.5	43.22	44.75	47.61	58.48		-0.1028	-0.1028		38.79	-129.87
Рентаб EBITDA, %				39.73	43.41	45.33	47.73	46.78	49.14	52.14	63.93		0.5677	0.5677	21.90	42.51	-58.62
Чистая рентаб, %				29.75	31.9	32.58	34.65	33.85	36.65	40.32	49.23	44.31		44.31	26.83	40.87	5.53
Operation Margin, %					41.02	42.97	43.5	42.36	45	47.87	89.41	64.87	64.87	64.87	14.48	62.40	7.59
Доходность FCF, %		565.64	594.26	-253.84	-26.07	-52.2	-15.93	320.17	75.06	328.24	165.47					174.60	-259.70

	2017Q1	2017Q2	2017Q3	2019Q4	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
ROE, %										3.29	3.96	3.78	1.19	1.31	1.49	2	3.59	3.05	3.17		19.76	2.66	16.30
ROA, %										0.3066	0.3696	0.3437	0.0861	0.3057	0.3349	0.3165	0.3367	0.2901	0.303		4.95	0.3162	-1.98
ROIC, %	0.8703	1.67	0.7275	1.66								2.7	24.84	2.63	2.32	2.25	3.47				7.36	7.10	-32.54
ROS, %											42.85	42.79	46.61	42.83	44.06	43.14	48.19	42.86	44.51	44.31	26.82	44.60	0.54
ROCE, %									0.988	0.3249	0.4251	0.3884	0.239	0.4252	0.4099	1.43	0.448			-0.2037	9.68	0.5019	-186.31
Ebit margin, %													48.59	99.69	87.21	166.48	55.81			-0.1028		81.82	-125.27
Рентаб EBITDA, %									52.82	45.86	51.3	50.66	53.66	105.13	35.79	169.33	55.71			0.5677	21.90	73.31	-64.81
Чистая рентаб, %										40.15	42.85	42.79	46.61	42.83	44.06	43.14	48.19	42.86	44.51		26.83	44.55	0.20
Operation Margin, %											51.3	50.66	53.66	53.82	51.43	52	55.81	56.82	68.18	64.87	14.48	59.54	4.52
Доходность FCF, %					33.01	44.76	-1.72	70.99	8.3	331.01	-14.91	82.96	-42.73	345.88								140.44	0.88

Coefficients

IFRS

Reporting Annual Quarterly

	2013	2014	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E			0.8765	1.2	1.27	1.32	1.29	1.75	6.59	4.06	0.8286		0.8286	19.24	2.90	-8.47
P/BV			0.1352	0.1757	0.1887	0.2006	0.1736	0.245	0.0936	0.5483	0.7276		0.7276	2.36	0.3576	33.19
P/S			0.2607	0.3836	0.4123	0.4576	0.4368	0.6429	2.66	2	0.3672		0.3672	4.64	1.22	-3.41
P/FCF				-3.84	-1.92	-6.28	0.3123	1.33	0.3047	0.6043	0.0906	0.2856	0.2856	2.29	0.5230	-26.48
E/P				0.8316	0.7903	0.7574	0.7749	0.5701	0.8464	1.34	1.26	9.2	9.2	87.84	2.64	74.41
EV/EBIT						-0.8551	-1.81	-0.1218	2.32	-2.75	-437.27	125.45	125.45		-62.4744	-500.47
EV/EBITDA	5.61	-1.56				11.13	-1.65	-0.0722	2.12	-2.51			79.17	-127.06	1.80	-174.24
EV/S	3.02	-0.7211				5.31	-0.7808	-0.0548	1.1	-1.61	-0.1289	-0.1289	-0.1289	4.03	-0.1645	18.66
EV/FCF	3.6	-0.4525				-72.85	-0.5583	-0.1136	0.7063	-0.3714	-0.7647	-0.7647	-0.7647	9.29	-0.2616	46.43
Debt/EBITDA	7.67	0.3801				17.87	3.75	3.92	2.41	8.31	115.09	115.09	115.09	-176.21	48.96	96.58
Netdebt/Ebitda				-3.02	-2.54	-1.78	-2.77	-1.34	-2.98	-5.64	37.03	-87.4	-87.4	240.99	-12.0660	130.61
Debt/Ratio	0.1362	0.0062				0.3082	0.0603	0.0682	0.0424	0.1435	0.1435	0.1314	0.1314	0.12	0.1058	14.02
Debt/Equity	2.06	0.0926				3.74	0.6962	0.7349	0.4545	1.66	0	8.85	8.85	11.24	2.48	66.28
Debt/Net Income	10.57	0.521				24.61	5.18	5.26	3.11	10.8	10.8	1.47	1.47	18.05	6.29	-22.51
PEG												-1.02	-1.02		-1.0200	0.00
Бета										-1.98	1.17	-1.09	-1.09	-0.75	-0.6333	-18.04
Индекс Альтмана			0.2255	0.0142	0.0095	-0.0814	-0.0107	-0.1199		0.1534	0.3441	0.3738	0.3738	40.56	0.1481	-303.54

	2017Q2	2017Q3	2019Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
P/E											4.02	3.79	1.38	2.03	1.54	1.9	5.43	4.64	5.74	7.58		19.24	5.06	31.88
P/BV											0.1323	0.15	0.0112	0.0749	0.0516	0.6358	0.0728	0.5816	0.7019	0.8968		2.36	0.5778	7.12
P/S											1.62	1.62	0.5933	0.8698	0.6656	0.8206	2.4	2.07	2.56	3.39		4.64	2.25	32.80
P/FCF							2.23	-58.07	1.41	12.04	0.3021	-6.71	1.21	-2.34	0.2891						0.2856	2.29	-1.4531	-153.19
E/P							0.1244	0.1792	0.2118	0.2455	0.2485	0.264	0.3035	0.3547	0.3841						9.2	87.84	2.10	103.44
EV/EBIT														7.45	-1.18	1.53	1.63	23.22			125.45		30.13	-354.28
EV/EBITDA			13.19							-2.65	0.4207	0.6325	-8.77	0.6689	-0.187	0.2449	0.8522	4				-127.06	1.12	43.00
EV/S			4.03										-4.44	3.62	-1.18	1.34	2.71	12.96	-4.22	-0.3685	-0.1289	4.03	2.19	-154.38
EV/FCF			4.93										-3.8	-0.8832	-0.043	-9.5	2.26	6.02	-2.3	-0.3357	-0.7647	9.29	0.9759	-180.51
Debt/EBITDA										10.29	12.1	11.26	12.11	11.4	5.44	19.47	3.68	33.8			115.09	-176.21	35.50	84.11
Netdebt/Ebitda										-11.75	-14.96	-9.56	-11.38	-10.6	-7.93	-19.4	-3.99	8.08			-87.4	240.99	-22.1280	61.60
Debt/Ratio	0.3213	0.414	0.1487										0.0493	0.0469	0.0396	0.0523	0.0457	0.1289			0.1314	0.12	0.0796	27.11
Debt/Equity	4.75	5.83	1.8										0.5418	0.4944	0.4056	0.5381	0.477	1.3			8.85	11.24	2.31	85.25
Debt/Net Income	103.32	130.66	70.6										14.34	13.12	13.35	15.81	14.44	39.07			1.47	18.05	16.83	-35.68
PEG																					-1.02		-1.0200	0.00
Бета																				-2.96	-1.09	-0.75	-2.0250	-39.32
Индекс Альтмана				-0.1192	-0.1011	-0.151	-0.2073	-0.0872	-0.1081	-0.0787			-0.107							0.3741	0.3738	40.56	0.0908	-228.16

Dividends

IFRS

Reporting Annual Quarterly

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	16.9	17.4	18.66	22.84	43.01	51.81	47.08	318.27	60.49			41.86		104.13	7.06
Дивиденд		0.1045	0.1076	0.1292	0.1373	0.1694	0.1937	0.4663	0.2417	0.2768		0.2768		0.2696	10.32
Див доход, ао, %		4.85	3.22	3.26	2.87	3.46	2.4	8.8	10.41	5.51		5.51	6.73	6.12	9.75
Дивиденды / прибыль, %		28.03	26.6	28.36	46.31	53.23	39.26	40.94	217.1	5.63		5.63	47.94	71.23	-36.19
Dividend Coverage Ratio											25.65	25.65		25.65	0.00

	2014Q3	2015Q2	2016Q3	2017Q2	2018Q3	2019Q3	2020Q3	2021Q3	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд										8.36	1.06	27.25	337.63	7.27	1.89	0.2827	55.31	4.47	0.8614			12.56	-14.54
Дивиденд	0.1008	0.1096	0.1045	0.1076	0.1292	0.1373	0.1694	0.1937	0.4663				0.2417									0.2417	11.98
Див доход, ао, %	5.17	3.77	4.41	3.88	3.53	2.89	3.42	2.38	7.79				5.67								6.73	4.43	14.43
Дивиденды / прибыль, %										26.88	2.74	10.18	885.28	21.66	4.96	0.7746	139.56	12.82	2.32		47.94	32.09	-14.10
Dividend Coverage Ratio																				25.65		25.65	0.00

Other

IFRS

Reporting Annual

	2023	2024	CAGR 5
Персонал, чел	112999	116529	1.55

	CAGR 5

	CAGR 5

Investing Port

OTC: CIHHF - China Merchants Bank Co., Ltd.

Reporting China Merchants Bank Co., Ltd.

Capitalization

Balance sheet

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Efficiency

Coefficients

Dividends

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