China Merchants Expressway Network & Technology Holdings Co.,Ltd. (SHE:001965)
China · Delayed Price · Currency is CNY 10.05
+0.05 (0.50%)
Sep 30, 2026, 3:04 PM CST
SHE:001965 Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Jan '24 Jan 1, 2024 | Jan '23 Jan 1, 2023 | Jan '22 Jan 1, 2022 |
Net Income | 4,712 | 4,610 | 5,322 | 6,767 | 4,861 | 4,973 |
Depreciation & Amortization | 3,931 | 3,909 | 4,011 | 2,325 | 1,794 | 1,865 |
Other Amortization | 216.87 | 233.14 | 304.55 | 244.33 | 191.61 | 132.25 |
Loss (Gain) From Sale of Assets | -1.3 | -2.95 | -9.95 | -0.45 | -287.01 | -5.51 |
Asset Writedown & Restructuring Costs | 157.83 | 157.72 | 19.21 | -0.05 | 0.88 | 146.4 |
Loss (Gain) From Sale of Investments | -4,586 | -4,453 | -4,997 | -5,988 | -3,463 | -3,949 |
Provision & Write-off of Bad Debts | 186.27 | 184.08 | 282.12 | 100.16 | 74.25 | 28.08 |
Other Operating Activities | 1,931 | 2,075 | 2,461 | 1,772 | 1,501 | 1,623 |
Change in Accounts Receivable | -513.83 | -349.26 | -110.37 | -418.97 | 570.66 | 201.31 |
Change in Inventory | -16.56 | 72.29 | 28.78 | -70.22 | -91.59 | 60.63 |
Change in Accounts Payable | 425.02 | 195.61 | 1,067 | -180.4 | -1,217 | -328.61 |
Operating Cash Flow | 6,348 | 6,511 | 7,121 | 4,438 | 3,878 | 4,616 |
Operating Cash Flow Growth | -9.45% | -8.56% | 60.46% | 14.43% | -15.99% | 43.53% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Jan '24 Jan 1, 2024 | Jan '23 Jan 1, 2023 | Jan '22 Jan 1, 2022 |
Capital Expenditures | -2,050 | -1,164 | -1,249 | -538.88 | -748.16 | -767.6 |
Sale of Property, Plant & Equipment | 2.96 | 7.2 | 10.91 | 1.13 | 55.07 | 289.19 |
Cash Acquisitions | - | - | -4,425 | 856.62 | -4,076 | -0.03 |
Divestitures | - | - | 2,569 | - | - | - |
Investment in Securities | 2,036 | 1,184 | -1,815 | -2,214 | -1,547 | -3,522 |
Other Investing Activities | -0.04 | -0.02 | 2,521 | 2,225 | 2,126 | 1,585 |
Investing Cash Flow | -10.79 | 27.62 | -1,688 | 404.62 | -4,189 | -2,415 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Jan '24 Jan 1, 2024 | Jan '23 Jan 1, 2023 | Jan '22 Jan 1, 2022 |
Long-Term Debt Issued | - | 16,918 | 22,085 | 11,689 | 22,807 | 8,228 |
Long-Term Debt Repaid | - | -22,420 | -21,269 | -9,484 | -24,080 | -8,211 |
Lease Payments | -61.54 | -56.01 | -59.97 | -71.98 | -23.13 | -42.19 |
Net Debt Issued (Repaid) | -7,410 | -5,502 | 815.68 | 2,205 | -1,273 | 16.55 |
Issuance of Common Stock | 7,300 | 5,300 | - | 1,805 | 3,550 | - |
Repurchase of Common Stock | -75.48 | -310.02 | - | - | - | -6 |
Common Dividends Paid | -4,501 | -4,491 | -5,561 | -3,933 | -3,451 | -2,170 |
Other Financing Activities | -758.96 | -693.32 | -418.23 | -362.29 | -554.05 | -426.7 |
Financing Cash Flow | -5,445 | -5,695 | -5,163 | -285.09 | -1,729 | -2,586 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Jan '24 Jan 1, 2024 | Jan '23 Jan 1, 2023 | Jan '22 Jan 1, 2022 |
Foreign Exchange Rate Adjustments | -32.52 | -12.92 | 16.93 | 7.79 | 24.56 | -32.66 |
Net Cash Flow | 859.59 | 830.52 | 286.38 | 4,565 | -2,016 | -417.17 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Jan '24 Jan 1, 2024 | Jan '23 Jan 1, 2023 | Jan '22 Jan 1, 2022 |
Free Cash Flow | 4,299 | 5,348 | 5,872 | 3,899 | 3,130 | 3,849 |
Free Cash Flow Growth | -24.52% | -8.93% | 50.61% | 24.57% | -18.68% | 122.69% |
Free Cash Flow Margin | 28.89% | 40.02% | 46.20% | 40.06% | 37.72% | 44.62% |
Free Cash Flow Per Share | 0.60 | 0.76 | 0.84 | 0.57 | 0.46 | 0.56 |
Levered Free Cash Flow | 2,811 | 4,518 | 3,640 | 5,543 | 385.34 | 1,727 |
Unlevered Free Cash Flow | 3,712 | 5,485 | 4,790 | 6,365 | 1,115 | 2,382 |
Free Cash Flow After Leases | 4,237 | 5,292 | 5,812 | 3,827 | 3,107 | 3,806 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Jan '24 Jan 1, 2024 | Jan '23 Jan 1, 2023 | Jan '22 Jan 1, 2022 |
Cash Income Tax Paid | 1,154 | 1,169 | 1,224 | 813.14 | 942.6 | 751.75 |
Change in Working Capital | -198.55 | -201.91 | -272.13 | -781.62 | -794.98 | -197.23 |