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China Merchants Expressway Network & Technology Holdings Co.,Ltd. (001965.SZ)

CNY9.86 +0.28 (+2.92%)
CN SHZ Industrials Industrial - Infrastructure Operations
Address China Merchants Office Building 100022
Beijing, CN
CEO Xudong Yang
Website cmexpressway.com
IPO 2017-12-25
ISIN CNE1000032B1

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Description

China Merchants Expressway Network & Technology Holdings Co.,Ltd. is a prominent Chinese enterprise dedicated to the development and management of numerous expressways throughout the country. Its extensive portfolio encompasses key transportation arteries like the Beijing-Tianjin-Tangshan, Yongtaiwen, Beilun Port, Jiurui, and Shanghai-Chongqing Expressways, among many others. Beyond its core highway operations, the company also engages in cutting-edge endeavors such as traffic and ecological technology, alongside intelligent transportation systems. Originally founded in 1965, the Beijing-headquartered firm was previously known as China Merchants Huajian Highway Investment Co.,Ltd. before officially adopting its current name in September 2016. It functions as a subsidiary under the larger China Merchants Group Limited.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CNY9.86 +0.28 (+2.92%)
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Volume Profile
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Liquidity & share structure
Average Volume
14M
Beta
-0.03
Float Shares
1.56B
Free Float %
22.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.40% -0.20% +7.84% +3.61% +0.90% -0.40% -18.70% +8.54% +29.21% -12.24% -12.24%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
9.86
DCF (Unlevered) 75.08 +661.4%
DCF (Levered) 96.17 +875.3%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 4 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
0.90
Distress
Piotroski F-Score
7 / 9
Strong
MOAT Score
5 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
3 / 5
Medium
ROA Score
3 / 5
Medium
D/E Score
2 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • ✗
    Revenue growth Industrial - Infrastructure Operations: +6.5%
    +4.8% Q1'26: +26.9% (vs Q1'25)
  • ✗
    EPS growth Industrial - Infrastructure Operations: +11.1%
    -10.5% Q1'26: +5.3% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Industrial - Infrastructure Operations: +42.0%
    +26.0% Q1'26: +15.3% (vs Q1'25)
  • ✓
    EBIT margin Industrial - Infrastructure Operations: +28.4%
    +20.0% Q1'26: +19.6% (vs Q1'25)
  • ✗
    ROIC Industrial - Infrastructure Operations: +6.7%
    +1.7% Q1'26: +1.9% (vs Q1'25)
  • ✓
    Share dilution Industrial - Infrastructure Operations: +0.0%
    -3.0% ★ Q1'26: -3.2% (vs Q1'25)
  • ✗
    Debt / EBITDA Net debt/EBITDA · Industrial - Infrastructure Operations: 1.25×
    8.44× Q1'26: 22.00× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.07) × ERP
WACC = 54% × Ke + 46% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 76.21 Current price: 9.86
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2018
actual 		Dec 2019
actual 		Dec 2020
actual 		Dec 2021
actual 		Dec 2022
actual 		Dec 2023
actual 		Dec 2024
actual 		Dec 2025
actual 		Dec 2026
4 Rev. Ana.
4 EPS Ana. 		Dec 2027
4 Rev. Ana.
4 EPS Ana. 		Dec 2028
2 Rev. Ana.
3 EPS Ana.
Revenue
6.76B
est: 6.14B (+10.1%)
8.29B
est: 8.08B (+2.6%)
7.07B
est: 7.09B (-0.3%)
8.63B
est: 8.74B (-1.3%)
8.30B
est: 8.99B (-7.7%)
9.73B
est: 10.81B (-10.0%)
12.71B
est: 13.37B (-4.9%)
13.32B
est: 12.45B (+7.0%)
14.39B
12.81B – 16.05B
+15.6% YoY
14.89B
12.93B – 16.90B
+3.4% YoY
14.03B
12.34B – 15.79B
-5.7% YoY
EBITDA
3.70B
est: 3.13B (+18.2%)
4.39B
est: 4.12B (+6.4%)
3.50B
est: 3.62B (-3.1%)
4.58B
est: 4.46B (+2.8%)
3.83B
est: 4.58B (-16.4%)
4.93B
est: 5.51B (-10.6%)
7.06B
est: 6.86B (+3.0%)
6.80B
est: 6.39B (+6.4%)
7.38B
6.57B – 8.23B
+15.6% YoY
7.64B
6.64B – 8.67B
+3.4% YoY
7.20B
6.33B – 8.10B
-5.7% YoY
EBIT
2.45B
est: 1.64B (+49.2%)
2.85B
est: 2.16B (+31.8%)
1.79B
est: 1.90B (-6.0%)
2.75B
est: 2.34B (+17.6%)
2.08B
est: 2.41B (-13.7%)
2.65B
est: 2.89B (-8.6%)
3.12B
est: 3.44B (-9.4%)
2.67B
est: 3.20B (-16.7%)
3.70B
3.30B – 4.13B
+15.6% YoY
3.83B
3.33B – 4.35B
+3.4% YoY
3.61B
3.17B – 4.06B
-5.7% YoY
Net Income
3.91B
est: 4.41B (-11.4%)
4.35B
est: 5.01B (-13.2%)
2.22B
est: 2.63B (-15.4%)
4.97B
est: 5.60B (-11.2%)
4.86B
est: 6.23B (-22.0%)
6.77B
est: 6.73B (+0.5%)
5.32B
est: 5.91B (-10.0%)
4.61B
est: 5.57B (-17.3%)
5.01B
4.66B – 5.28B
-10.0% YoY
5.13B
4.73B – 5.51B
+2.4% YoY
5.34B
4.50B – 6.21B
+4.0% YoY
SGA
133.05M
est: 91.35M (+45.7%)
161.26M
est: 120.22M (+34.1%)
139.54M
est: 105.46M (+32.3%)
113.02M
est: 129.96M (-13.0%)
123.40M
est: 133.66M (-7.7%)
146.40M
est: 160.73M (-8.9%)
147.50M
est: 341.90M (-56.9%)
975.81M
est: 318.47M (+206.4%)
368.10M
327.63M – 410.50M
+15.6% YoY
380.79M
330.82M – 432.23M
+3.4% YoY
358.92M
315.56M – 403.91M
-5.7% YoY
EPS
0.63
est: 0.63 (+0.0%)
0.70
est: 0.72 (-2.1%)
0.36
est: 0.38 (-4.0%)
0.80
est: 0.80 (+0.0%)
0.79
est: 0.89 (-11.2%)
1.08
est: 0.96 (+12.3%)
0.77
est: 0.87 (-11.5%)
0.68
est: 0.82 (-17.1%)
0.74
0.69 – 0.78
-10.0% YoY
0.76
0.70 – 0.81
+2.4% YoY
0.79
0.66 – 0.91
+4.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A- 4/5 5/5 3/5 3/5 2/5 3/5 4/5
2026-05-28 A- 4/5 5/5 3/5 3/5 2/5 3/5 4/5
2026-05-27 A- 4/5 5/5 3/5 3/5 2/5 3/5 4/5
2026-05-26 A- 4/5 5/5 3/5 3/5 2/5 3/5 4/5
2026-05-25 A- 4/5 5/5 3/5 3/5 2/5 3/5 4/5
2026-05-22 A- 4/5 5/5 3/5 4/5 2/5 3/5 4/5
2026-05-21 A- 4/5 5/5 3/5 4/5 2/5 3/5 4/5
2026-05-20 A- 4/5 5/5 3/5 4/5 2/5 3/5 4/5
2026-05-19 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-05-18 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-05-15 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-05-14 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-05-13 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-05-12 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-05-11 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-05-08 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-05-07 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-05-06 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-30 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-29 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-28 A- 4/5 5/5 3/5 4/5 1/5 4/5 4/5
2026-04-27 A- 4/5 5/5 3/5 4/5 1/5 3/5 4/5
2026-04-24 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-23 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-22 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-21 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-20 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-17 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-16 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5
2026-04-15 B+ 3/5 5/5 2/5 4/5 1/5 3/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
7.37B
OE per share TTM
1.08
Owner's Yield
10.81%
Maintenance CapEx ratio
33.50%
Maint CapEx / Avg PPE
29.7%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
414.1K
Shares Outstanding
6.80B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Jie Meng Board Secretary — male
Nie Yibin Deputy GM & Secretary — male
Ping Li Deputy General Manager — male
Quan Chen Deputy General Manager — male
Shaojun Yang Chief Financial Officer — male
Sheng Li General Counsel & Chief Compliance Officer — male
Xudong Yang Non-Independent Director & GM — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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