China Merchants Group (CMG) is a leading state-owned conglomerate based in Hong Kong. By the end of 2015, the company had total assets of RMB901.1 billion and total assets under management of RMB6.5 trillion. The company's profits hit a record high in 2015, with revenue of RMB122 billion and total profit of RMB48.9 billion. It has been recognized as Level-A SOE for 12 consecutive years, from 2004 to 2015.