China Merchants Securities : PRELIMINARY FINANCIAL DATA FOR THE YEAR 2020

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(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 6099)

PRELIMINARY FINANCIAL DATA FOR THE YEAR 2020

This announcement is made by China Merchants Securities Co., Ltd. (the "Company") pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and Rules 13.09 and 13.10B of the Listing Rules.

The major financial data for the year ended December 31, 2020 (the "Reporting Period") set out in this announcement, which are the preliminary financial data, are prepared under the China Accounting Standards for Business Enterprises in accordance with Article 11.3.5 of the Stock Listing Rules of the Shanghai Stock Exchange, and are unaudited. The final financial data should be those to be disclosed in the annual report of the Company for the year ended December 31, 2020.

The Company expects that the audited results of the Company and its subsidiaries for the year ended December 31, 2020 will be published on or before March 31, 2021 in accordance with the requirements under the Listing Rules.

1. MAJOR FINANCIAL DATA (UNAUDITED) AND INDICATORS FOR YEAR 2020

Unit: RMB in ten thousand

ItemThe current Reporting PeriodThe corresponding period of last yearAfter adjustmentBefore adjustmentIncrease/Decrease

Operating income Operating profit

Profit before income tax

2,427,767.02 1,130,312.61 1,130,886.89

1,870,836.99 879,414.86 877,363.63

1,870,836.99 29.77%

879,414.86 28.53%

877,363.63 28.90%

Profit attributable to shareholders of the Company

949,163.88

728,238.08

728,238.08 30.34%

Profit attributable to shareholders of the Company after deducting non-recurring gain or loss Basic earnings per share

948,768.36

730,494.56

730,494.56 29.88%

(RMB per share) Note 1

1.06

0.82

0.97 29.26%

Increased by 1.34

Weighted average return on net asset

10.85%

9.51%

9.51%percentage points

ItemAs of the end of the current Reporting period

As of the end of last yearAfter adjustmentBefore adjustmentIncrease/Decrease

Total assets

Equity attributable to shareholders of the Company

Share capital

49,972,667.78 10,573,680.39 869,652.68

38,177,188.81

38,177,188.81 30.90%

8,504,832.01 669,940.93

8,504,832.01 24.33%

669,940.93 29.81%

Net asset per share

(RMB per share) Note 2

10.43

8.85

10.46 17.95%

Note 1:

The Company completed allotment of A shares rights issue and H shares rights issue in July 2020 and August 2020, respectively. Pursuant to Accounting Standards for Business Enterprises No. 34 - Earnings per Share, in consideration of the bonus shares involved in the rights issue, the weighted average number of ordinary shares outstanding for each period presented in the above table has been adjusted when calculating the earnings per share.

Note 2:

The net asset per share is calculated based on equity attributable to the shareholders of the Company after deducting other equity instruments (perpetual bonds). In addition, in consideration of the bonus shares involved in the rights issue, the number of shares for the end of each period presented in the above table has been adjusted when calculating the net asset per share.

• 2. DESCRIPTION ON OPERATING RESULTS AND FINANCIAL POSITION

  In 2020, in the face of complicated market situation, the Company has taken multi-pronged measures to broaden income stream and forged ahead to promote reform, and remarkable results were achieved. During the Reporting Period, the Company realised an operating income of RMB24.278 billion, representing an increase of 29.77% year on year; and realised net profits attributable to shareholders of the Company of RMB9.492 billion, representing an increase of 30.34% year on year.

• 3. RISK WARNING

  The major financial data for 2020 as set out in this announcement are preliminary financial data and may differ from those audited financial data to be disclosed in the annual report of the Company for 2020. However, such difference is not expected to exceed 10%. Investors are reminded to pay attention to the investment risks involved.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

China Merchants Securities Co., Ltd.

HUO Da

Chairman

Shenzhen, the PRC

March 5, 2021

As at the date of this announcement, the executive directors of the Company are Mr. HUO Da and Mr. XIONG Jiantao; the non-executive directors of the Company are Mr. SU Jian, Mr. XIONG Xianliang, Ms. SU Min, Ms. PENG Lei, Mr. GAO Hong, Mr. HUANG Jian, Mr. WANG Daxiong and Mr. WANG Wen; and the independent non-executive directors of the Company are Mr. XIANG Hua, Mr. XIAO Houfa, Mr. XIONG Wei, Mr. HU Honggao and Mr. WONG Ti.