China Merchants Shekou sees revenue, profit rise in first half

China Merchants Shekou Industrial Zone Holdings reported a 0.41% increase in operating revenue to yuan 51.49 billion and a 2.18% rise in net profit attributable to shareholders to yuan 1.45 billion for the first half of 2025. The company's net asset value per share grew by 27.27% to yuan 0.14. Despite a 255.77% decrease in net cash flow from operating activities, total assets increased by 0.90% to yuan 868.04 billion.

During the period, China Merchants Shekou maintained its "Green Light" status under the "Three Red Lines" policy, with a liability-to-asset ratio of 67.86%, a net debt ratio of 66.42%, and a cash-to-short-term debt ratio of 1.30. The company strengthened its financing structure by increasing property-backed loans to yuan 82 million, expanding its untapped bank credit lines to yuan 47.80 billion, and issuing new medium-term notes worth yuan 3.1 billion with the lowest interest rates in the industry. These measures contributed to a stable average debt maturity of 5.3 years and a decrease in the comprehensive capital cost by 15 basis points.

The board approved guarantees for joint ventures and associates totaling yuan 498 million, with an effective period of 12 months from the shareholder meeting, authorizing management to adjust these guarantees among eligible entities as needed. A buyback program for 44,804,006 shares, valued at yuan 430 million, further underscored China Merchants Shekou's commitment to shareholder returns.