Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

China Merchants Bank - A (600036.SS)

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (Rmb)	Price Target (Rmb)	Rating
2021-08-20	51.03	64.30	Buy
2021-10-04	50.45	63.93	Buy
2022-10-07	33.65	46.79	Buy
2022-10-31	26.82	42.50	Buy
2023-01-06	38.38	46.32	Buy
2023-06-16	33.93	39.62	Buy
2023-12-22	27.61	27.30	Neutral
2024-05-14	35.34	42.80	Buy

Disclosures

This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-investment banking securities-related services are being, or have been, provided.
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.
Within the past 12 months, UBS has received compensation for products and services other than investment banking services from this company/entity.
UBS Securities Hong Kong Limited is a market maker in the Hong Kong-listed securities of this company.
Market capitalisation is calculated by multiplying the current share price by the sum of A and H shares.
UBS holds a long or short position of 0.5% or more of the listed shares of this company.

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day.