In short
China Merchants Bank Co., Ltd. (3968.HK) has revenue down 0.8% to CNY 332.1B and net income up 1.2% to CNY 150.2B year on year. Its net margin is 45.2%, and it trades at 8.0× trailing earnings. Fisclear flags 1 high-severity risk, led by: Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds. How we calculate this
Valuation
Financial ServicesLive · Yahoo FinancePrice
HK$52.20
HK$1.32T
4.35%
52-Week Range
4-engine score — Quality and Peers engines require SEC EDGAR (US stocks only)
P/E 8.1× — low multiple.
FCF yield 32.2% — 27.2pp above risk-free.
FCF yield 32.2% — strong cash generation.
⚠ Revenue declining 1% YoY.
Based on filing period ending Dec 2025
International FisclearScore uses 4 engines (no EDGAR data). Based on Yahoo Finance & Alpha Vantage reported financials. Not financial advice.
🇭🇰 Hong Kong Macro Indicators
Full dashboard →CPI Inflation
1.44%→
Near target
GDP Growth
3.49%↑
Strong
USD/HKD
7.85→
Current Account
12.25% GDP↑
Surplus
CPI inflation is 1.4% year-over-year (inflation near target); GDP growth is 3.5% year-over-year (moderate growth); USD/HKD is at 7.8470.
SWOT Analysis — 3968.HK
Inflationary BoomStrengths
Total Assets: CNY 13.1T (+7.6% YoY) — Total assets grew 8% — the company's resource base expanded.
Weaknesses
Revenue: CNY 332.1B (-0.8% YoY) — Revenue fell 1% — the company generated less from its core operations.
Price-to-book ratio of 0.99x — stock trades below book value, which may indicate market concerns about asset quality or profitability.
Opportunities
Net Income: CNY 150.2B (+1.2% YoY) — Profit grew 1% — the company kept more of each dollar earned.
Operating Cash Flow: CNY 451.5B (+1.0% YoY) — Operating cash flow grew 1% — the business generated more cash from day-to-day operations.
EPS (Diluted): CNY 5.70 (+0.7% YoY) — Earnings per share rose 1% — each share earned more.
Threats
Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds.
Financial Charts
Year-over-Year Changes
Total Assets
CNY 13.1T
was CNY 12.2T
Total assets grew 8% — the company's resource base expanded.
Net Income
CNY 150.2B
was CNY 148.4B
Profit grew 1% — the company kept more of each dollar earned.
Operating Cash Flow
CNY 451.5B
was CNY 447.0B
Operating cash flow grew 1% — the business generated more cash from day-to-day operations.
Revenue
CNY 332.1B
was CNY 334.9B
Revenue fell 1% — the company generated less from its core operations.
EPS (Diluted)
CNY 5.70
was CNY 5.66
Earnings per share rose 1% — each share earned more.
Risk Flags
1 high · 0 medium · 1 low- ⚠ High
Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds.
- ○ Low
Price-to-book ratio of 0.99x — stock trades below book value, which may indicate market concerns about asset quality or profitability.
Price HistoryHKD
Technical Signals
Daily closes · 1-year dataLatest News
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External Links
Research China Merchants Bank Co., Ltd.
Data sourced from HKEX, FRED (Federal Reserve), OECD, BIS, and Yahoo Finance. For informational purposes only. Not financial advice.