Merchant Express Class A (001965) — Tangible Net Worth Ratio
Merchant Express Class A (001965) has a Tangible Net Worth Ratio of 2.1% as of September 2025. This metric is calculated by deducting intangible assets (CN¥82.63 Billion) from net assets (CN¥84.38 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See 001965 working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Merchant Express Class A Tangible Net Worth Ratio (2014–2024)
This chart shows how Merchant Express Class A's Tangible Net Worth Ratio has changed across 11 annual periods from 2014 to 2024. As of September 2025, the ratio stands at 2.1%, reflecting net assets of CN¥84.38 Billion with intangible assets of CN¥82.63 Billion CNY. See Merchant Express Class A liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Merchant Express Class A (2014–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for Merchant Express Class A from 2014 to 2024, covering 11 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see 001965 stock market capitalisation.
| Year | Tangible NW Ratio | Net Assets (CNY) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 3.9% | CN¥88.78 Billion | CN¥85.35 Billion | CN¥159.17 Billion | ▲ +15.9 pp |
| 2023 | -12.0% | CN¥82.14 Billion | CN¥92.02 Billion | CN¥157.48 Billion | ▼ -35.9 pp |
| 2022 | 23.8% | CN¥67.67 Billion | CN¥51.54 Billion | CN¥114.94 Billion | ▼ -16.8 pp |
| 2021 | 40.7% | CN¥63.32 Billion | CN¥37.57 Billion | CN¥98.32 Billion | ▲ +6.3 pp |
| 2020 | 34.4% | CN¥59.73 Billion | CN¥39.19 Billion | CN¥94.01 Billion | ▲ +5.2 pp |
| 2019 | 29.2% | CN¥54.04 Billion | CN¥38.26 Billion | CN¥91.02 Billion | ▲ +8.4 pp |
| 2018 | 20.8% | CN¥49.80 Billion | CN¥39.42 Billion | CN¥84.08 Billion | ▼ -28.3 pp |
| 2017 | 49.1% | CN¥46.36 Billion | CN¥23.58 Billion | CN¥65.17 Billion | ▼ -5.7 pp |
| 2016 | 54.8% | CN¥43.28 Billion | CN¥19.55 Billion | CN¥55.36 Billion | ▲ +21.3 pp |
| 2015 | 33.5% | CN¥28.02 Billion | CN¥18.63 Billion | CN¥50.30 Billion | ▼ -22.9 pp |
| 2014 | 56.4% | CN¥25.48 Billion | CN¥11.10 Billion | CN¥40.70 Billion | — |