C 
China Merchants Property Operation & Service Co 001914.SZ · CNY
Real Estate · Shenzhen · 🇨🇳 China
8.49
-1.16%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥19.27bn
FY2016FY2025
Net income
CN¥654.6m
FY2016FY2025
Free cash flow
CN¥1.62bn
FY2016FY2025
Shareholders' equity
CN¥10.72bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥19.27bn | CN¥17.17bn | CN¥15.63bn | CN¥13.02bn | CN¥10.59bn | CN¥8.65bn | CN¥6.08bn | CN¥6.66bn | CN¥4.26bn | CN¥6.33bn |
| Research and development | CN¥76.1m | CN¥78.2m | CN¥98.9m | CN¥48.3m | CN¥37.5m | CN¥19.6m | CN¥17.5m | CN¥14.6m | CN¥10.0m | CN¥10.9m |
| Operating income | CN¥955.8m | CN¥1.17bn | CN¥978.2m | CN¥824.8m | CN¥767.9m | CN¥719.3m | CN¥628.9m | CN¥232.7m | CN¥301.2m | CN¥727.0m |
| Net income | CN¥654.6m | CN¥840.5m | CN¥735.7m | CN¥593.5m | CN¥512.9m | CN¥437.4m | CN¥286.2m | CN¥856.6m | CN¥150.6m | CN¥161.5m |
| Diluted earnings per share | 0.62 | 0.79 | 0.69 | 0.56 | 0.48 | 0.41 | 0.43 | 1.28 | 0.23 | 0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥20.07bn | CN¥19.07bn | CN¥18.60bn | CN¥17.81bn | CN¥16.77bn | CN¥16.28bn | CN¥16.50bn | CN¥13.24bn | CN¥19.11bn | CN¥21.73bn |
| Cash and short-term investments | CN¥5.62bn | CN¥4.67bn | CN¥4.35bn | CN¥3.17bn | CN¥2.06bn | CN¥2.30bn | CN¥2.41bn | CN¥2.21bn | CN¥2.07bn | CN¥1.96bn |
| Total liabilities | CN¥9.21bn | CN¥8.50bn | CN¥8.69bn | CN¥8.50bn | CN¥8.19bn | CN¥7.99bn | CN¥8.50bn | CN¥8.35bn | CN¥14.52bn | CN¥17.01bn |
| Debt | CN¥377.5m | CN¥895.9m | CN¥2.16bn | CN¥2.47bn | CN¥2.60bn | CN¥3.09bn | CN¥3.95bn | CN¥4.83bn | CN¥6.77bn | CN¥9.99bn |
| Shareholders' equity | CN¥10.72bn | CN¥10.42bn | CN¥9.76bn | CN¥9.15bn | CN¥8.66bn | CN¥8.31bn | CN¥7.98bn | CN¥4.84bn | CN¥4.18bn | CN¥4.08bn |
| Shares outstanding | 1,058m | 1,060m | 1,060m | 1,060m | 1,060m | 1,060m | 667m | 667m | 667m | 667m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.64bn | CN¥1.84bn | CN¥1.82bn | CN¥995.1m | CN¥702.7m | CN¥989.5m | CN¥358.9m | CN¥1.28bn | CN¥2.56bn | CN¥2.34bn |
| Capital spending | −CN¥19.1m | −CN¥23.8m | −CN¥30.6m | −CN¥28.2m | −CN¥18.6m | −CN¥35.2m | −CN¥43.9m | −CN¥143.4m | −CN¥344.2m | −CN¥541.4m |
| Free cash flow | CN¥1.62bn | CN¥1.81bn | CN¥1.79bn | CN¥966.9m | CN¥684.2m | CN¥954.2m | CN¥315.0m | CN¥1.14bn | CN¥2.22bn | CN¥1.80bn |
| Dividends paid | −CN¥298.1m | −CN¥273.2m | −CN¥215.3m | −CN¥106.0m | −CN¥137.4m | −CN¥108.1m | −CN¥200.1m | −CN¥484.9m | −CN¥587.6m | −CN¥750.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.00bn | CN¥4.77bn | CN¥5.33bn | CN¥4.83bn | CN¥4.64bn | CN¥4.46bn | CN¥5.01bn | CN¥4.32bn |
| Operating income | CN¥380.6m | CN¥331.2m | CN¥35.3m | CN¥259.0m | CN¥356.5m | CN¥298.3m | CN¥306.4m | CN¥217.4m |
| Net income | CN¥264.6m | CN¥233.2m | −CN¥31.7m | CN¥212.2m | CN¥254.6m | CN¥219.4m | CN¥220.6m | CN¥184.6m |
| Diluted earnings per share | 0.25 | 0.22 | -0.03 | 0.20 | 0.24 | 0.21 | 0.21 | 0.17 |
| Cash from operations | — | — | CN¥2.85bn | −CN¥14.0m | CN¥321.0m | −CN¥1.51bn | — | CN¥341.0m |
| Capital spending | −CN¥6.0m | −CN¥8.0m | −CN¥4.0m | −CN¥3.0m | −CN¥2.0m | −CN¥9.0m | −CN¥6.0m | −CN¥3.0m |
| Free cash flow | — | — | CN¥2.84bn | −CN¥17.0m | CN¥319.0m | −CN¥1.52bn | — | CN¥338.0m |
| Total assets | CN¥20.62bn | CN¥19.97bn | CN¥20.07bn | CN¥19.32bn | CN¥19.29bn | CN¥19.15bn | CN¥19.07bn | CN¥19.05bn |
| Cash and short-term investments | — | — | CN¥5.62bn | CN¥2.89bn | CN¥3.27bn | CN¥3.22bn | CN¥4.67bn | CN¥2.47bn |
| Debt | — | CN¥316.7m | CN¥564.4m | CN¥215.6m | CN¥535.6m | CN¥546.6m | CN¥812.1m | CN¥1.34bn |
| Shareholders' equity | CN¥10.95bn | CN¥10.96bn | CN¥10.72bn | CN¥10.84bn | CN¥10.63bn | CN¥10.64bn | CN¥10.42bn | CN¥10.21bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 5.0% | 6.8% | 6.3% | 6.3% | 7.3% | 8.3% |
| Net margin | 3.4% | 4.9% | 4.7% | 4.6% | 4.8% | 5.1% |
| Return on equity | 6.1% | 8.1% | 7.5% | 6.5% | 5.9% | 5.3% |
| Return on assets | 3.3% | 4.4% | 4.0% | 3.3% | 3.1% | 2.7% |
| Free cash flow yield | 16.7% | 18.7% | 18.5% | 10.3% | 7.2% | 10.3% |
| Revenue growth | 12.2% | 9.9% | 20.0% | 23.0% | 22.4% | 42.3% |
| Earnings growth | -22.1% | 14.2% | 24.0% | 15.7% | 17.3% | 52.8% |
| Current ratio | 1.28x | 1.33x | 1.17x | 1.45x | 1.27x | 0.97x |
| Debt to equity | 0.05x | 0.08x | 0.03x | 0.25x | 0.27x | 0.18x |
| Equity ratio | 53.4% | 54.6% | 52.5% | 51.4% | 51.7% | 51.0% |
| Interest coverage | 38.19x | 17.69x | 8.81x | 6.40x | 4.86x | 3.70x |
| R&D as a share of sales | 0.4% | 0.5% | 0.6% | 0.4% | 0.4% | 0.2% |
| Buybacks as a share of market value | 0.2% | 0.0% | 0.0% | -0.0% | 0.0% | -58.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.0% | 17.4% | 13.3% |
| Operating income | 5.0% | 5.8% | 5.4% |
| Net income | 3.3% | 8.4% | 5.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.8% | 6.0% | 6.4% | 7.0% |
| Net margin | 4.1% | 4.3% | 4.5% | 5.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.3 | 13.3 | 17.2 | 27.5 | 41.9 | 52.2 | 47.3 | 5.8 | 43.0 | 50.7 |
| Price to sales | 0.6 | 0.7 | 0.8 | 1.3 | 2.0 | 2.6 | 2.2 | 0.8 | 1.5 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 15 years. Last went ex-dividend on 24 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.26 | 0.24 | 0.17 | 0.12 | 0.10 | 0.13 | 0.10 | 0.30 |
- 2-for-1 split · 17 May 2012
- 3-for-2 split · 16 Jun 2011
- 1-to-1 reverse split · 11 Apr 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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