China Merchants Fund's 2025 operating revenue is 5.47 billion yuan, with a net profit of 1.438 billion yuan.

On the evening of March 27, China Merchants Securities disclosed its 2025 annual report. Meanwhile, the operating data of China Merchants Fund in which it has an equity stake was also disclosed.

As of end-2025, China Merchants Fund had total assets of RMB 15.402 billion, net assets of RMB 11.155 billion, operating revenue of RMB 5.47 billion, and net profit of RMB 1.438 billion.

In 2025, China Merchants Fund implemented the requirements for high-quality development of public funds, focusing on the strategic vision of “leading with the best client experience and building a world-class asset management company,” and all its work made positive progress.

In terms of product strategy, it continued to improve a diversified product system covering both active and passive products, successfully rolling out industry’s first batch of performance-benchmark-based floating fee products, the industry’s first Science and Technology Innovation bond ETF, and the industry’s first Science and Technology Innovation comprehensive index ETF, among other innovative products.

In building research and investment capabilities, it continued to enhance active management capabilities, strengthened the core logic of diversified asset allocation, and advanced the construction of a professional research and investment framework.

In risk management, it continued to promote comprehensive risk management, and no major risk events occurred during the reporting period.

In client operations, it included client profitability in the marketing system’s performance evaluation indicators, steadily advanced the development of the investment advisory business, took full advantage of opportunities in the pension business, and deepened customer engagement and investor education.

As of the end of December 2025, China Merchants Fund’s asset management scale (including the scale managed by its subsidiaries) was RMB 1,594.4 billion, up 1.63% from the end of 2024; among them, the scale of public funds under management (excluding feeder funds) was RMB 961.5 billion, the scale of non-money-market public funds under management was RMB 589.1 billion, and it ranked among the top in the industry.

(Announcement)

(Editor: Xu Nannan)

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