YOLFTbeta
Merchant Express Class A

Merchant Express Class A

001965 · SHE · Industrials / Infrastructure Operations

10.26CNY+0.21 (+2.09%)

Price History

Full chart

Market Stats

Previous Close10.05
Open10.00
Day Range9.95 – 10.30
52-Week Range8.36 – 10.34
Volume17.20M
Market Cap68.29B
P/E (TTM)15.23
Forward P/E0.00
EPS0.66
Dividend Yield3.71%
Beta-0.09
50-Day Avg9.77
200-Day Avg9.71

About

China Merchants Expressway Network & Technology Holdings Co.,Ltd. operates as a highway investment and operation service provider in the People's Republic of China. It operates through Investment Operation, Transportation Technology, Smart Transportation, and Traffic Ecology segments. The company also offers full-process consulting and engineering technical services; and general contracting of engineering, design and construction, and project management services. In addition, it engages in technical service development; traffic information services; intelligent transportation product design; technology research and development; software development and computer network system engineering; technology transfer; business management; engineering consulting management; fund management; photovoltaic power generation; agricultural planting; highway engineering; scientific research and design; engineering supervision; production and installation; development and management of construction facilities; hotels; pipeline corridor leasing; ecological and environmental protection technology-related activities; highway engineering inspection; highway information technology development; water transport project supervision; and other technology promotion services. The company was formerly known as China Merchants Huajian Highway Investment Co.,Ltd. and changed its name to China Merchants Expressway Network & Technology Holdings Co.,Ltd. in September 2016. The company was founded in 1993 and is based in Beijing, the People's Republic of China. China Merchants Expressway Network & Technology Holdings Co.,Ltd. operates as a subsidiary of China Merchants Group Limited.

Company Details

  • SectorIndustrials
  • IndustryInfrastructure Operations
  • CEOMr. Xudong Yang
  • Employees7.84K
  • HeadquartersHuafeng Building, Building 1, Beijing, China, 100029, China
  • Websitehttps://www.cmexpressway.com

Leadership

  • Mr. Xudong YangNon-Independent Director & GM · b. 1973
  • Mr. Shaojun YangChief Financial Officer · b. 1975
  • Mr. Nie YibinDeputy GM & Secretary · b. 1982
  • Mr. Ping LiDeputy General Manager · b. 1978
  • Mr. Quan ChenDeputy General Manager · b. 1975
  • Mr. Xiao Qiang FuGeneral Counsel & Chief Compliance Officer · b. 1976

Financials

Income Statement

Currency: CNY2014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue2.40B2.76B5.05B5.34B6.76B8.29B7.07B8.63B8.30B9.73B12.71B13.36B
Growth (%)-+15.19%+83.06%+5.69%+26.56%+22.68%-14.75%+22.03%-3.81%+17.29%+30.62%+5.11%
Cost of Revenue1.12B1.26B2.82B3.01B3.72B4.74B4.60B5.05B5.39B6.15B8.38B9.38B
Gross Profit1.27B1.50B2.23B2.33B3.04B3.55B2.47B3.57B2.91B3.58B4.33B3.99B
Gross Margin53.20%54.21%44.10%43.55%44.92%42.84%34.89%41.42%35.05%36.80%34.05%29.83%
Operating Expense-1.95B-2.58B-1.77B-2.09B-1.81B-1.81B-302.48M-2.25B-2.06B-3.99B-2.05B1.05B
Operating Income3.22B4.07B4.00B4.41B4.84B5.37B2.77B5.83B4.97B7.57B6.38B2.94B
Operating Margin134.44%147.60%79.20%82.63%71.64%64.71%39.17%67.53%59.85%77.76%50.21%21.98%
EBITDA--2.52B2.77B3.70B4.39B3.50B4.58B3.83B4.93B7.06B11.12B
EBITDA Margin--49.94%51.93%54.77%52.92%49.55%53.09%46.17%50.66%55.57%83.23%
Net Income2.46B3.10B2.94B3.37B3.91B4.35B2.22B4.97B4.86B6.77B5.32B4.61B
Net Income Margin102.77%112.21%58.15%63.07%57.85%52.42%31.44%57.65%58.59%69.53%41.87%34.51%
R&D-113.55M113.17M113.55M95.28M206.77M196.65M263.77M358.41M360.49M312.37M174.94M
R&D as % of Total Revenue-4.11%2.24%2.13%1.41%2.49%2.78%3.06%4.32%3.70%2.46%1.31%
Interest Expense0103.35M0295.39M888.72M1.14B1.25B1.05B1.17B1.34B1.86B1.55B
Interest Expense % of Total Revenue0.00%3.74%0.00%5.53%13.15%13.76%17.70%12.14%14.07%13.73%14.60%11.57%

Balance Sheet

Currency: CNY2014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets40.70B50.30B55.36B65.17B84.08B91.02B94.01B98.32B114.94B157.48B159.17B162.42B
Total Liabilities15.22B22.29B12.08B18.81B34.29B36.98B34.28B35.00B47.26B75.34B70.39B70.79B
Total Equity23.58B25.45B37.31B43.26B45.46B49.44B54.95B58.33B60.54B65.05B71.23B74.28B
Cash2.07B3.88B3.15B7.01B7.08B6.65B6.80B6.39B4.38B8.93B9.25B10.07B
Total Debt3.03B7.75B5.71B10.16B25.58B25.74B26.07B26.20B36.79B61.80B58.00B-
Net Debt966.70M3.87B2.56B3.16B18.50B19.09B19.27B19.81B32.42B52.87B48.75B39.29B

Cash Flow

Currency: CNY2014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow1.43B1.57B2.31B2.98B3.68B4.32B3.22B4.62B3.88B4.44B7.12B6.51B
Investing Cash Flow-172.72M-1.21B-1.89B602.87M-6.97B-2.31B-6.49B-2.41B-4.19B404.62M-1.69B-
Financing Cash Flow-1.70B1.40B-1.61B352.50M3.32B-2.48B1.76B-2.59B-1.73B-285.09M-5.16B-
Capital Expenditure1.11B657.86M620.20M577.40M760.39M835.60M1.49B767.60M748.16M538.88M1.25B1.16B
Free Cash Flow318.99M908.87M1.69B2.40B2.92B3.48B1.73B3.85B3.13B3.90B5.87B5.35B
Dividends Paid1.26B4.56B3.46B1.53B2.30B1.57B2.85B2.17B3.45B3.93B5.56B4.49B
FCF to OCF22.33%58.01%73.11%80.62%79.36%80.64%53.74%83.37%80.71%87.86%82.46%82.13%
Dividend Paid to FCF394.56%502.16%205.04%63.69%78.57%45.24%164.86%56.38%110.27%100.88%94.70%83.97%

Earnings

Report DateApr 26, 2018Aug 28, 2018Oct 29, 2018Jan 21, 2019Apr 29, 2019Aug 28, 2019Oct 29, 2019Apr 17, 2020Aug 28, 2020Oct 29, 2020Apr 28, 2021Aug 29, 2021Oct 29, 2021Apr 26, 2022Aug 28, 2022Oct 30, 2022Apr 3, 2023Aug 28, 2023Oct 30, 2023Apr 2, 2024Aug 30, 2024Oct 30, 2024Apr 29, 2025Aug 29, 2025Oct 28, 2025Apr 25, 2026Aug 25, 2026
EPS Estimate---------------------------
EPS Actual0.140.180.160.140.170.180.150.220.080.240.140.230.170.160.200.170.170.220.230.350.210.210.150.170.220.200.18
Surprise---------------------------
TimingAfter-hoursPre-marketAfter-hoursPre-marketPre-marketAfter-hoursPre-marketPre-marketAfter-hoursPre-marketPre-marketAfter-hoursPre-marketPre-marketAfter-hoursPre-marketPre-marketPre-marketAfter-hoursPre-market-Pre-marketPre-market----

Key Statistics & Ratios

Market Cap68.29B
Enterprise Value107.13B
Trailing P/E15.23
Forward P/E0.00
Price / Sales4.59
Price / Book0.88
EPS0.66
Book Value10.11
Revenue (TTM)14.88B
Gross Profit (TTM)3.83B
EBITDA6.46B
Profit Margin31.66%
Operating Margin17.02%
Return on Equity5.68%
Return on Assets1.00%
Shares Outstanding6.80B
Shares Float1.90B
Beta-0.09
Dividend Yield3.71%
Dividend Rate0.37
Payout Ratio61.63%

Dividends

20261×
0.37Jul 31, 2026
20251×
0.42Jul 31, 2025
20241×
0.53Jul 30, 2024
20231×
0.41Jul 18, 2023
20221×
0.35Jul 5, 2022
20211×
0.18Jun 25, 2021
20201×
0.28Aug 24, 2020
20191×
0.25Jul 12, 2019
20181×
0.22Aug 8, 2018