An annual consumer rights protection campaign is underway, focusing on enhancing consumption quality. Investors are advised to consult professional analyst reports for informed decision-making.
According to statistics from a consumer complaints platform, between March 15, 2025, and February 28, 2026, China Merchants Securities Co.,Ltd. received 18 complaints, of which 8 were deemed valid, achieving a resolution rate of 37.50%. The primary issue raised in these complaints involves disputes over commission fees.
One complainant stated, "As a long-term investor with China Merchants Securities Co.,Ltd., I discovered after reviewing my account transaction records and fund statements from 2024 to the present that the company has been charging an excessively high commission rate of 0.248%. This rate far exceeds the industry's standard range of 0.01% to 0.03%, surpassing market norms by more than tenfold. Such charges are clearly unreasonable and severely infringe upon investor rights."
Another complainant reported, "China Merchants Securities Co.,Ltd. guided me to enroll in a wealth management plan without proper disclosure, subsequently raising my commission rate from 0.015% to 0.06%, resulting in significantly higher transaction costs."
Notably, amid active market trading, many securities firms are intensifying competition for clients. Currently, standard commission rates for new individual investor accounts are generally around 0.015% or 0.01%. Some brokerages offer even lower rates based on account size, with commissions dropping as low as 0.00854% and 0.00841%.
Public data indicates that in 2025, China Merchants Securities Co.,Ltd. achieved an operating revenue of 24.9 billion yuan, a year-on-year increase of 19.19%. Net profit attributable to shareholders reached 12.3 billion yuan, up 18.43% compared to the previous year. The company's revenue growth for the first three quarters of the year was 27.76%, with net profit rising 24%, closely aligning with the annual report figures. In its third-quarter report, increases in net brokerage commission income and market-making service revenue were cited as primary drivers of revenue growth. During the third quarter of 2025, brokerage business emerged as the most significant growth contributor for China Merchants Securities Co.,Ltd., accounting for 73.83% of the adjusted revenue increment.
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