CHINA MERCHANTS EXPRESSWAY NETWORK (001965) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached ¥7.18 billion, up 26.86% year-over-year, with net profit attributable to shareholders at ¥2.60 billion, a 4.05% increase year-over-year.

• The company maintained strong operational resilience amid macroeconomic fluctuations and industry challenges, focusing on core highway investment and operation, digital transformation, and green initiatives.

• No interim dividend, bonus shares, or capital increase from reserves was planned for the half-year period.

Financial highlights

• Operating income: ¥7.18 billion, up 26.86% year-over-year; net profit attributable to shareholders: ¥2.60 billion, up 4.05%.

• Operating cash flow: ¥2.75 billion, down 5.59% year-over-year.

• Basic and diluted EPS: ¥0.3752, up 1.85% year-over-year.

• Total assets at period end: ¥164.85 billion, up 1.50% from year-end 2025.

• Net assets attributable to shareholders: ¥76.00 billion, up 2.32% from year-end 2025.

Outlook and guidance

• The company will continue to focus on core highway operations, digital and green transformation, and risk management.

• Ongoing expansion of service area business, distributed photovoltaic projects, and digital platforms to drive future growth.

• Emphasis on cost control, efficiency improvement, and diversified revenue streams to offset industry headwinds.