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Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. China Merchants Securities Asset Management Co.,Ltd's selling, general, & admin. expense for the
three
months ended in Jun. 2026 was ¥5,423 Mil.
Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Jun. 2026 was ¥13,843 Mil.
China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) Selling, General, & Admin. Expense Explanation
An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.
Warren Buffett likes companies with consistent SGA as the percentage of gross profit.
Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.
If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.
China Merchants Securities Asset Management Co.,Ltd Selling, General, & Admin. Expense Related Terms
China Merchants Securities Asset Management Co.,Ltd Selling, General, & Admin. Expense Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
China Merchants Securities Asset Management Co.,Ltd Selling, General, & Admin. Expense Chart
China Merchants Securities Asset Management Co.,Ltd Annual Data
SHSE:600999 vs MS, GS, SCHW: Selling, General, & Admin. Expense Comparison
For the Capital Markets subindustry, China Merchants Securities Asset Management Co.,Ltd's Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
China Merchants Securities Asset Management Co.,Ltd Selling, General, & Admin. Expense vs Capital Markets Industry
China Merchants Securities Asset Management Co.,Ltd Selling, General, & Admin. Expense Calculation
Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.
Selling, General, & Admin. Expense for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥13,843 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Selling, General, & Admin. Expense of ¥13,843 Mil mean?
China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) has a Selling, General, & Admin. Expense of ¥13,843 Mil as of Jun. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on China Merchants Securities Asset Management Co.,Ltd and its competitors.
Is China Merchants Securities Asset Management Co.,Ltd's Selling, General, & Admin. Expense too high?
China Merchants Securities Asset Management Co.,Ltd's current Selling, General, & Admin. Expense is ¥13,843 Mil. Overall, China Merchants Securities Asset Management Co.,Ltd has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Merchants Securities Asset Management Co.,Ltd's Selling, General, & Admin. Expense compare to MS and GS?
China Merchants Securities Asset Management Co.,Ltd's Selling, General, & Admin. Expense of ¥13,843 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Selling, General, & Admin. Expense for a Capital Markets company?
A good Selling, General, & Admin. Expense depends on the Capital Markets industry context. However, Selling, General, & Admin. Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on China Merchants Securities Asset Management Co.,Ltd and its competitors. China Merchants Securities Asset Management Co.,Ltd's current Selling, General, & Admin. Expense is ¥13,843 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Merchants Securities Asset Management Co.,Ltd stock overvalued right now?
Based on GuruFocus' analysis, China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥20.20, compared to a current price of ¥18.01 — trading 10.8% below its estimated fair value. The current Selling, General, & Admin. Expense is ¥13,843 Mil. China Merchants Securities Asset Management Co.,Ltd's overall GF Score™ is 70/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For China Merchants Securities Asset Management Co.,Ltd (SHSE:600999), the current Selling, General, & Admin. Expense is ¥13,843 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) Overvalued in 2026?
Based on GuruFocus' analysis, China Merchants Securities Asset Management Co.,Ltd stock appears to be undervalued.
The current stock price of ¥18.01 is trading 10.8% below its estimated GF Value™ of ¥20.20.
GuruFocus considers China Merchants Securities Asset Management Co.,Ltd to be Modestly Undervalued.
Key valuation signals for SHSE:600999:
Selling, General, & Admin. Expense: ¥13,843 Mil
GF Value™: ¥20.20 vs. price of ¥18.01 (10.8% below fair value)
No single metric tells the full story. See the SHSE:600999 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Merchants Securities Asset Management Co.,Ltd is a financial service provider. The company provides services like investment banking, financial advisory, equity underwriting, asset 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.
70GF Score
Get the complete analysis for SHSE:600999
Selling, General, & Admin. Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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