CHINA MERCHANTS EXPRESSWAY NETWORK (001965) Q3 2026 earnings summary

Executive summary

• YTD revenue rose 25.78% YoY to ¥10.947bn; attributable net income was nearly flat at ¥4.013bn, up 0.03% YoY.

• Q3 revenue increased 23.76% YoY to ¥3.762bn, while attributable net income fell 6.65% to ¥1.408bn; the Q3 report was unaudited.

Financial highlights

• YTD net income was ¥4.471bn versus ¥4.423bn a year earlier; operating profit was ¥4.821bn versus ¥4.765bn.

• YTD adjusted attributable net income, excluding non-recurring items, was ¥3.994bn, up 1.27% YoY; Q3 adjusted income was ¥1.409bn, down 3.34%.

• YTD total operating costs rose to ¥9.948bn from ¥7.538bn; operating costs were ¥8.257bn versus ¥5.727bn.

Key financial ratios and metrics

• YTD basic and diluted EPS were ¥0.5765, up 0.73% YoY; Q3 EPS was ¥0.2013, down 6.94%.

• Weighted average ROE was 5.57% YTD, down 5.08% YoY; Q3 ROE was 1.97%, down 11.60%.

• Total assets reached ¥165.242bn at Sep. 30, up 1.74% from year-end; parent shareholders’ equity was ¥77.312bn, up 4.09%.