China Merchants Securities Co., Ltd. (CMSC, HK:06099) secured blanket shareholder approval at its 2025 Annual General Meeting (AGM) on 26 June 2026 in Shenzhen. A total of 721 shareholders and proxies, representing 5.99 billion voting shares or 68.85 % of issued capital, participated through on-site and online voting.
Dividend payout • Shareholders endorsed a final cash dividend of RMB4.49 (tax-inclusive) per 10 shares—equivalent to RMB0.449 per share. • Payment to H-shareholders is scheduled for 10 August 2026; amounts will be converted at RMB0.869686 per HKD, translating to HKD0.516 per 10 H shares. • The H-share register will be closed 14–17 July 2026; entitlement is based on records as of 17 July 2026.
Key ordinary resolutions (each approved with ≥99.98 % support unless stated): 1. 2025 Board work report, independent directors’ report and annual report. 2. 2025 profit distribution and 2026 interim dividend authorisation. 3. 2026 proprietary investment budget and appointment of 2026 auditors. 4. Six sets of 2026 related-party transaction caps with core shareholders and affiliates, all cleared with support ratios ranging from 99.95 % to 99.98 %. 5. 2026 guarantee authorisation for China Merchants Securities International and subsidiaries. 6. Adoption of new Remuneration Management Rules.
Special resolutions • General mandate to issue additional shares passed with 97.41 % support. • Thirteen sub-resolutions granting a comprehensive mandate to issue domestic and overseas debt financing instruments each received 99.18 %–99.22 % support. • Amendments to the Articles of Association and Shareholders’ Meeting Procedures approved with 97.79 % and 99.98 % support, respectively.
Board changes • Shareholders elected Mr Tao Wu and Mr Gao Hong as non-executive directors for the eighth board session, effective 26 June 2026. • Following their appointment, Mr Liu Zhenhua and Mr Li Xiaofei resigned as non-executive directors.
Capital structure and voting exclusions • CMSC has 8.70 billion shares outstanding (7.42 billion A shares, 1.27 billion H shares). • Major shareholders China Merchants Group, China COSCO Shipping, PICC Life Insurance, Hebei Port Group and CCCC Capital abstained from voting on specific related-party resolutions in accordance with listing rules.
Tax and settlement arrangements for Southbound and Northbound trading participants follow prevailing PRC and Hong Kong regulations; details are provided in the announcement.
With all agenda items endorsed—ranging from dividend distribution to expanded capital-raising mandates—CMSC enters its new board term with reinforced governance structure and shareholder backing.
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