May 2026
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Largest Asset Management Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
China Merchants Securities Asset Management, GF Securities, CICC, Guosen Securities and Orient Securities.
 | China Merchants Securities Asset Management Co.,Ltd formerly China Merchants Securities Co Ltd is a financial service provider. The company provides services like, investment banking, financial advisory, equity underwriting, assets management, investment advisory, and trading equity securities among others. Its business is divided into four segments: Wealth management and institutional business; Investment banking; Investment management; and Investment and trading. The Wealth management and institutional business segment which generates key revenue engages in the trading of stocks and futures contracts on behalf of clients and includes margin financing, securities lending, and selling financial and other wealth management products. | $2 | +15% | $21B | $51B | 10.2x | 23.4x | ||
| GF Securities Co Ltd is principally engaged in securities business, the proxy sale of securities investment funds, the provision of futures intermediary services for futures companies, securities investment fund custodian, fund raising, fund sales, asset management, project and investment management, commodity futures brokerage, financial futures brokerage and futures investment advisory, etc. It operates through the following segments: Investment banking, Wealth management, Trading & Institutions, and Investment management. | $3 | +21% | $20B | $58B | 9.0x | 31.0x | ||
| China International Capital Corp Ltd is a capital market operations company based in China. Its business is carried out through investment banking, the equities segment, asset management, the FICC segment, wealth management, and private equity segments. The Others segment comprises other business departments, as well as middle and back offices. The company derives its earnings predominantly from China, with the remainder coming from overseas. It generates the majority of its revenue from the wealth management segment. | $4 | +14% | $19B | ($4B) | (0.7x) | (1.2x) | ||
| Guosen Securities Co Ltd is a national securities company. It offers investment banking, financial engineering, and asset management services. | $1 | -8% | $15B | $39B | 11.1x | — | ||
| Orient Securities Co Ltd is engaged in sales and trading of securities including investment and trading, fixed income investment and trading, financial derivatives trading business, NEEQ market-making business, alternative investment, and securities research services. It engages in alternative investment business through Orient Securities Innovation Investment. The Company has established three business systems, namely, comprehensive wealth management, comprehensive investment banking and comprehensive institutional business, and developed four business segments, namely, wealth and asset management, investment banking and alternative investments, institutions and sales trading, international and other businesses, generating key income from wealth and asset management. | $1 | +5% | $11B | $27B | 7.4x | — | ||
| CSC Financial Co Ltd is engaged in providing capital markets services. The operating segments of the company include investment banking business which includes equity financing business, debt financing business, and financial advisory business; wealth management business which includes brokerage and wealth management business, margin financing, security lending business, and repurchase business; trading and institutional client services business which include equity sales, fixed income sales, and prime brokerage business, and asset management business which include asset management business and fund management business. The company derives the majority of its revenue from the Investment Banking segment. | $1 | +25% | $11B | ($10B) | (1.7x) | (3.3x) | ||
| Everbright Securities Co Ltd is a China-based company is engaged in providing brokerage and investment consulting services. The Company’s business includes wealth management business segment, corporate financing business segment, institutional customer business segment, investment trading business segment, asset management business segment and equity investment business segment. The company generates the majority of its revenue from wealth management business segment. | $2 | -10% | $9B | $20B | 8.7x | — | ||
| Founder Securities Co Ltd provides financial services. Its business includes securities brokerage, investment banking, consulting, QFII business, securities underwriting and sponsorship, and fund and asset management. It generates the majority of its revenue from the Wealth Management business segment. | $1 | -6% | $9B | $20B | 12.7x | — | ||
| Cinda Securities Co Ltd offers securities services. It provides securities brokerage; securities investment consulting; financial advisors related to securities trading and securities investment activities; securities underwriting and sponsorship; securities self-operation; securities asset management; margin financing and securities lending and agency sales of financial products. | $3 | +22% | $8B | $15B | 24.5x | — | ||
| China Industrial Securities Co Ltd is engaged in the provision of Securities brokerage, investment banking, asset management, fund management, and securities proprietary trading services. | $1 | +2% | $7B | $19B | 11.1x | — | ||
| Guolian Minsheng Securities Co Ltd is a China-based financial institution. The company's operating segments include Brokerage and wealth management, Credit transactions, Investment banking, Proprietary trading, Asset management and investment, and Other businesses. It generates maximum revenue from the Brokerage and wealth management segment and the Proprietary trading segment. The Brokerage and wealth management segment includes securities trading and brokering services, sales of wealth management products, investment consulting, and asset allocation. The Proprietary trading segment includes trading in financial products. | $1 | -3% | $7B | $1B | 0.8x | 1.8x | ||
| Changjiang Securities Company Ltd is a financial services company. The company engages in securities brokerage, investment banking, asset management, fixed-income business, fund management, and futures and direct investment. Geographically, the company operates in China. | $1 | +29% | $7B | $14B | 8.8x | — | ||
| Zhongtai Securities Co Ltd is a China-based company mainly engaged in wealth management business. The company operates through eight segments: Asset management business segment, Credit business segment, Futures business segment, International business segment, Investment banking segment, Investment business segment, Wealth management business segment, and Others. It generates the majority of its revenue from the Wealth management business segment. The wealth management business mainly provides securities brokerage services, investment advisory services, product allocation services, and comprehensive financial services. | $1 | -6% | $7B | $16B | 9.4x | — | ||
| China CITIC Financial Asset Management Co Ltd engages in distressed asset management, financial services, and asset management and investment businesses in PRC. Its business covers four functions of disposal of troubled assets, revitalization of problematic projects, restructuring of struggling enterprises and relief of institutions in crisis. The Group’s business segments are comprised of the distressed asset management segment; and; the asset management and investment segment. | $0 | -27% | $6B | $147B | 16.4x | 37.8x | ||
| Zheshang Securities Co Ltd is a securities brokerage firm. The company offers various services, including securities brokerage, investment banking, asset management, financial adviser services, investment consulting, securities self-operation, and margin trading services. It also engages in the financial futures brokerage business, commodity futures brokerage business, and asset management. It generates the majority of its revenue from the Futures business. | $1 | -8% | $6B | $15B | 11.4x | — | ||
| Dongxing Securities Co Ltd is engaged in securities brokerage, securities investment consulting, financial consulting related to securities trading and securities investment activities, securities underwriting and sponsorship, securities investment fund sales, securities self-operation and securities asset management business, margin financing and securities lending business, and consignment of financial products. | $2 | +33% | $6B | $11B | 16.0x | — | ||
| Capital Securities Corp Ltd is a security company. The company's business scope includes securities brokerage, securities investment consulting, financial advisory related to securities trading and securities investment activities, securities underwriting and sponsorship, securities proprietary trading, securities investment fund sales, securities asset management, margin financing and securities lending, agency sales of financial products, Futures companies provide various financial services such as intermediary introduction business. | $2 | -18% | $6B | $9B | 24.4x | — | ||
| SDIC Capital Co Ltd is engaged in securities, trusts, public funds, futures, insurance, etc. The company conducts its operations through four segments. The Brokerage segment mainly covers securities and futures brokerage services, along with the distribution of financial products as an agent. The Asset Management segment includes pooled, directional, and specific asset management activities. The Investment Banking segment offers services related to equity and debt financing, mergers and acquisitions, and financial advisory; the Credit business, and Others. | $1 | -7% | $6B | ($11B) | (5.4x) | (12.4x) | ||
| Soochow Securities Co Ltd is a securities company. Its businesses include securities brokerage, investment banking, securities investing, asset management, fixed-income investing, margin financing, and wealth management. The group also acts as a support system for research consulting, information technology, and risk management, creating a co-development and win-win cooperation future for customers. Geographically, the activities are carried out in China. | $1 | +1% | $6B | $15B | 11.4x | — | ||
| Caitong Securities Co Ltd is an investment company. It is engaged in wealth management, asset management, an investment bank, futures business, fund business, private equity fund, and others. Geographically, the activities are carried out in China. | $1 | +10% | $5B | $13B | 12.8x | — | ||
| HuaAn Securities Co Ltd is a China-based securities company. It is primarily involved in various business activities such as securities brokerage, securities investment consulting, financial advisory, trading and securities investment, wealth management, investment banking, asset management and direct investment business. Geographically all the activities are carried out through China. | $1 | +36% | $5B | $10B | 13.5x | — | ||
| China Cinda Asset Management Co Ltd is an asset management firm with operations in mainland China and Hong Kong. Its parent company was founded with approval from the State Council, with the intent of instituting reforms of state-owned banks. Its principal business segments include Distressed asset management and, secondarily, Financial Services. The company has a wide presence throughout the Chinese provinces and operates a few Tier 1 entities. The majority of company's income is derived from the distressed asset management business segment that comprises debt asset management conducted with respect to distressed assets, DES Assets management, other distressed asset management, and entrusted operation businesses. | $0 | +3% | $5B | $141B | 13.4x | — | ||
| Tianfeng Securities Co Ltd is a China-based company engaged in securities and futures-related business. Its business scope includes securities brokerage, securities investment consulting, financial advisory services related to securities trading and securities investment activities; securities investment fund agency sales; securities underwriting and sponsorship; securities asset management, securities self-employment; margin financing, and securities lending. | $1 | -10% | $5B | $11B | 26.0x | — | ||
| Sunshine Insurance Group Co Ltd is mainly engaged in the insurance business. The company has three operating segments; The life insurance segment offers a wide range of life insurance products mainly by Sunshine Life; The property and casualty insurance segment offers a wide range of property and casualty insurance products mainly by Sunshine P&C and Sunshine Surety, and Other business segment mainly provides corporation management and assets management services. It derives a majority of its revenue from the property and casualty insurance segment. | $0 | +6% | $5B | $6B | 0.4x | — | ||
| BOC International China Co Ltd is engaged in Investment banking business, securities brokerage business, asset management business, securities proprietary business, private equity investment business, futures business, and other businesses. It generates the majority of its revenue from the Securities brokerage business. | $2 | +21% | $5B | $8B | 16.3x | — | ||
| Sinolink Securities Co Ltd is engaged in investment banking, research, consulting, and brokerage services in China. The company provides securities brokerage; securities investment consulting; financial advisory services related to securities trading and securities investment activities; securities underwriting and sponsorship; securities proprietary trading; securities asset management; margin trading; agency sales of financial products; agency sales of securities investment funds; and provision of intermediary introduction services for futures companies. | $1 | +7% | $5B | $9B | 7.0x | — | ||
| Guoyuan Securities Co Ltd is engaged in securities brokerage, securities investment consulting, securities underwriting and sponsoring, securities asset management, and securities trading in China. The company also provides financial services such as research consulting, direct investment, margin financing, funds, futures, trusts, and insurance. | $1 | -3% | $5B | $12B | 13.6x | — | ||
| Western Securities Co Ltd provides securities services. It offers securities brokerage, investment banking, asset management, securities research, and securities financing and margin services, as well as independent services. Geographically, all the activities are carried out through China. | $1 | -6% | $4B | $8B | 9.3x | — | ||
| Southwest Securities Co Ltd is a national securities company. Its business includes securities brokerage, securities underwriting and sponsorship, financial consulting, asset management, and margin financing. Through asset management, the company provides customers with its special and professional asset management services. It generates the majority of its revenue from the Brokerage business. | $1 | -1% | $4B | $8B | 17.3x | — | ||
| Noah Holdings Ltd is a wealth management service provider offering comprehensive advisory services on investment and asset allocation, mainly for Mandarin-speaking high-net-worth (HNW) investors. The company's operating segments are Domestic public securities, Domestic asset management, Domestic insurance, Overseas wealth management, Overseas asset management, Overseas insurance and comprehensive services, and Headquarters. Maximum revenue is generated from its Domestic asset management business, which manages private equity funds, real estate equity funds, and private secondary products. The domestic asset management operations focus on managing primary market exits and cross-border ETF products in the secondary market. Geographically, it derives maximum revenue from Mainland China. | $10 | -3% | $656M | ($67M) | (0.2x) | (0.5x) | ||
| Median | $1 | +1% | $6B | $13B | 11.1x | 0.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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