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, and at the same time, operating data of its equity-invested China Merchants Fund were also disclosed.

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

In 2025, China Merchants Fund deeply implemented the requirements for high-quality development of public funds, focusing on the strategic vision of “taking the best customer experience as the lead to build a world-class asset management company,” and made positive progress in all aspects of its work.

In terms of product setup, it continued to improve a diversified product system covering both active and passive products, successfully launching innovation products such as the first batch in the industry based on performance benchmarks floating-fee products, the industry’s first Science and Technology Innovation bond ETF, the industry’s first Science and Technology Innovation comprehensive index ETF, and others.

In terms of investment research and portfolio management capability building, it continued to enhance active management capabilities, strengthened the core logic of multi-asset allocation, and promoted the development of a professional investment research and portfolio management system.

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

In terms of customer operations, it incorporated customer profitability into the marketing system’s evaluation indicators, steadily advanced the development of the investment advisory business, made full use of opportunities in the pension business, and further cultivated 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 159.44 billion yuan, up 1.63% compared with the end of 2024; of this, the scale of public funds under management (excluding feeder funds) was 96.15 billion yuan, the scale of non-money-market public funds under management was 58.91 billion yuan, and it ranked among the top in the industry.

(Announcement)

(Editor: Xu Nannan)

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