CMBC CAPITAL (01141) has released its annual results for the period ended December 31, 2025. The company reported total revenue of HKD 467 million, representing a year-on-year increase of 28.65%. Profit attributable to owners for the year was HKD 151 million, a significant rise of 197.73% compared to the previous year. Earnings per share stood at 13.77 HK cents.
The 28.65% growth in total revenue was primarily attributed to the evident effectiveness of the group's transformation and development strategy. During the reporting year, income from securities underwriting, asset management, sponsorship services, and fee-based businesses related to wealth management saw substantial year-on-year increases.
Within the reporting period, the securities segment recorded a significant rise in both total revenue and profit. The increase in segmental revenue was mainly driven by higher bond underwriting income, interest income from margin financing, and commission income from brokerage and related services. Alongside business development and the growth in segmental revenue, segmental expenses, including funding costs, brokerage commissions, and system setup costs, also increased compared to the previous year.
Additionally, the segmental profit growth outpaced the segmental revenue growth due to a reversal of impairment losses for the margin financing business. This reversal occurred because a margin financing client fully repaid its obligations during the reporting year.
During the reporting year, driven by refinancing demand, both the number and scale of Chinese offshore bond issuances increased significantly compared to the prior year. The client base for the group's bond underwriting business remained predominantly composed of financial institutions and local state-owned enterprises. Throughout the reporting year, the group successfully completed the underwriting and issuance of 295 bonds, with a total issuance size exceeding USD 60.5 billion. The credit profiles of the underwriting entities remained robust.
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