China Merchants Bank stock reports 4.83 percent H1 growth

China Merchants Bank stock stood at CNY 40.69 on the Shanghai Stock Exchange on September 24, 2026, up 0.22 percent from CNY 40.60. The bank reported first-half 2026 operating income of CNY 178.181 billion, while net profit attributable to shareholders reached CNY 76.445 billion, according to Futunn.

H1 profit rises 2.02 percent

China Merchants Bank's operating income increased 4.83 percent year over year in the six months ended June 30, 2026. Net profit attributable to shareholders rose 2.02 percent year over year to CNY 76.445 billion, giving investors a clear split between improving income and slower bottom-line growth.

The earnings mix also points to the bank's retail and fee businesses. First-half net interest income reached CNY 112.02 billion, up 5.60 percent year over year, while wealth management fee income rose 18.44 percent to CNY 24.7 billion, figures reported by Investing.com. The contrast matters because fee income is expanding faster than total operating income.

Huachuang sets CNY 49.22 target

Huachuang Securities maintained a Buy rating and assigned a 2026 target price of CNY 49.22 in an August 31, 2026, commentary published by Futunn. The target lies 21.0 percent above the September 24 share price, based on CNY 49.22 and CNY 40.69.

The valuation call is tied to a 2026 target price-to-book ratio of 1.05 times, compared with a cited current 2026 estimate of 0.84 times. That gap makes book-value recovery and the quality of fee income central to the stock's near-term debate.

Shanghai price sits below yearly high

The CNY 40.69 reference price is 7.08 percent below the 52-week high of CNY 43.79 and 15.34 percent above the 52-week low of CNY 35.28. Trading volume reached 50,352,355 shares on September 24, 2026, against an average volume of 82,356,008 shares.

China Merchants Bank's market capitalization was CNY 1,026,195,521,981 on September 24, 2026. For investors, the combination of 4.83 percent operating-income growth, 2.02 percent profit growth and the CNY 49.22 target leaves execution in wealth management as the key valuation test.