Merchant Express Class A (001965) — Defensive Interval Ratio

Latest as of September 2025: 165 days

Merchant Express Class A (001965) has a Defensive Interval Ratio of 165 days as of September 2025. Defensive assets of CN¥5.42 Billion (cash CN¥-, short-term investments CN¥-, receivables CN¥5.42 Billion) cover 165 days of daily cash needs of CN¥32.77 Million/day.

Defensive Interval Ratio

165 days
Days of operational coverage

Defensive Assets

CN¥5.42 Billion
Cash + ST Investments + Receivables

Daily Cash Need

CN¥32.77 Million
Current Liabilities ÷ 365

Current Liabilities

CN¥11.96 Billion
CNY

Merchant Express Class A Defensive Interval Ratio (2014–2024)

This chart shows how Merchant Express Class A's Defensive Interval Ratio has evolved across 11 annual periods from 2014 to 2024. As of September 2025, the ratio stands at 165 days, meaning defensive assets of CN¥5.42 Billion can fund 165 days of operations without new revenue. For the complete balance sheet picture, see total assets of Merchant Express Class A.

Annual Defensive Interval Ratio for Merchant Express Class A (2014–2024)

The table below presents the year-by-year Defensive Interval Ratio for Merchant Express Class A from 2014 to 2024, covering 11 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. See how liquid is Merchant Express Class A's working capital to evaluate short-term liquidity relative to the company's equity base.

Year DIR (days) Defensive Assets (CNY) Daily Cash Need Cash ST Investments Change (days)
2024 96 days CN¥4.26 Billion CN¥44.47 Million/day CN¥- CN¥- ▲ +31 days
2023 65 days CN¥3.07 Billion CN¥47.15 Million/day CN¥- CN¥-1.09 Billion ▼ -52 days
2022 117 days CN¥3.12 Billion CN¥26.64 Million/day CN¥- CN¥-559.75 Million ▲ +155 days
2021 -38 days CN¥-1.01 Billion CN¥26.67 Million/day CN¥- CN¥-4.44 Billion ▼ -23 days
2020 -15 days CN¥-448.20 Million CN¥30.29 Million/day CN¥- CN¥-3.51 Billion ▼ -56 days
2019 41 days CN¥1.26 Billion CN¥30.71 Million/day CN¥- CN¥-365.72 Million ▼ -25 days
2018 66 days CN¥1.24 Billion CN¥18.82 Million/day CN¥- CN¥-381.21 Million ▲ +13 days
2017 52 days CN¥1.34 Billion CN¥25.55 Million/day CN¥- CN¥68.00 Million ▼ -14 days
2016 66 days CN¥1.43 Billion CN¥21.60 Million/day CN¥- CN¥73.20 Million ▲ +72 days
2015 -6 days CN¥-198.45 Million CN¥34.84 Million/day CN¥- CN¥-576.92 Million ▼ -12 days
2014 6 days CN¥120.45 Million CN¥20.40 Million/day CN¥- CN¥9.94 Million —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)