---
title: "China Express (002928.SZ) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/002928.SZ/norm.md"
symbol: "002928.SZ"
name: "China Express"
parent: "https://longbridge.com/en/quote/002928.SZ.md"
datetime: "2026-05-19T21:45:04.362Z"
locales:
  - [en](https://longbridge.com/en/quote/002928.SZ/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/002928.SZ/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/002928.SZ/norm.md)
---

# China Express (002928.SZ) — Financial Reports

## Income Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | 0.1060 | 0.0047 | 0.2887 | 0.1321 | 0.0641 |
| ROE | 13.67% | 0.62% | 38.82% | 19.13% | 9.64% |
| Revenue | 1.82B | 1.72B | 2.12B | 1.84B | 1.77B |
| Net income | 134.04M | 6.06M | 369.07M | 168.80M | 81.98M |
| Operating income | 283.95M | 117.30M | 552.92M | 312.24M | 234.65M |
| Gross margin | -0.20% | -13.85% | 13.88% | 4.74% | 0.79% |
| Net margin | 7.35% | 0.35% | 17.38% | 9.20% | 4.62% |
| Profit quality | 41.16% | 256.01% | 38.80% | 45.83% | 63.60% |

## Balance Sheet (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 24.16B | 23.81B | 23.69B | 21.51B | 21.41B |
| Leverage | 6.07 | 6.16 | 5.94 | 5.95 | 6.22 |
| BVPS | 3.15 | 3.06 | 3.13 | 2.84 | 2.71 |
| Turnover | 0.3294 | 0.3350 | 0.3321 | 0.3498 | 0.3387 |
| Cash & STI | 2.19B | 1.82B | 2.48B | 2.12B | 2.03B |
| Inv & Rec | 293.10M | 288.64M | 279.37M | 241.09M | 238.88M |
| LT assets | 15.83B | 15.83B | 15.13B | 13.88B | 14.06B |
| Net debt | 15.36B | 14.92B | 14.30B | 13.39B | 13.78B |

## Cash Flow Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | 689.90M | 45.82M | 1.43B | 681.35M | 368.97M |
| Investing CF | -492.09M | -1.12B | -727.92M | -104.96M | 113.55M |
| Financing CF | 367.99M | 418.61M | -560.65M | -623.62M | -283.46M |
| Free CF | -884.56M | 565.86M | -1.13B | 866.60M | -139.75M |
| OCF coverage | 40.63% | 0.86% | 231.17% | 29.01% | 38.36% |
| Repaid & issued | 2.16B | 2.70B | 1.31B | 1.20B | 1.20B |
| CapEx | -549.13M | -1.18B | -846.29M | -167.62M | -179.12M |

## Distribution Plan

### Dividend History

| Description | Record Date | Ex-Date | Payment Date |
|-------------|-------------|---------|--------------|
| Cash Dividend: 
0.061CNY | 2021-07-14 | 2021-07-15 | 2021-07-15 |
| Cash Dividend: 
0.076CNY. 
Share conversation: 0.5 for 1 | 2020-07-16 | 2020-07-17 | 2020-07-17 |
| Cash Dividend: 
0.13CNY. 
Share conversation: 0.5 for 1 | 2019-04-19 | 2019-04-22 | 2019-04-22 |