China Express Airlines Co Ltd Class A (002928) — Working Capital to Net Assets Ratio
China Express Airlines Co Ltd Class A (002928) has a Working Capital to Net Assets ratio of -32.9% as of March 2026. Working capital of CN¥-1.31 Billion (current assets of CN¥6.61 Billion minus current liabilities of CN¥7.92 Billion) is measured against net assets of CN¥3.98 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See financial flexibility index of China Express Airlines Co Ltd Class A to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
China Express Airlines Co Ltd Class A Working Capital to Net Assets (2013–2025)
This chart shows how China Express Airlines Co Ltd Class A's Working Capital to Net Assets ratio has evolved across 13 annual periods from 2013 to 2025. As of March 2026, the ratio stands at -32.9%, reflecting working capital of CN¥-1.31 Billion against net assets of CN¥3.98 Billion CNY. See 002928 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for China Express Airlines Co Ltd Class A (2013–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for China Express Airlines Co Ltd Class A from 2013 to 2025, covering 13 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market value of China Express Airlines Co Ltd Class A.
| Year | WC/NA Ratio | Working Capital (CNY) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -34.3% | CN¥-1.33 Billion | CN¥3.87 Billion | CN¥6.24 Billion | CN¥7.57 Billion | ▼ -1.8 pp |
| 2024 | -32.5% | CN¥-1.09 Billion | CN¥3.36 Billion | CN¥5.18 Billion | CN¥6.27 Billion | ▲ +21.8 pp |
| 2023 | -54.3% | CN¥-1.68 Billion | CN¥3.09 Billion | CN¥4.08 Billion | CN¥5.75 Billion | ▼ -40.0 pp |
| 2022 | -14.3% | CN¥-579.71 Million | CN¥4.05 Billion | CN¥4.13 Billion | CN¥4.71 Billion | ▲ +6.9 pp |
| 2021 | -21.2% | CN¥-767.65 Million | CN¥3.62 Billion | CN¥3.93 Billion | CN¥4.69 Billion | ▼ -33.8 pp |
| 2020 | 12.5% | CN¥496.03 Million | CN¥3.95 Billion | CN¥3.79 Billion | CN¥3.30 Billion | ▼ -17.9 pp |
| 2019 | 30.4% | CN¥846.61 Million | CN¥2.78 Billion | CN¥3.27 Billion | CN¥2.42 Billion | ▲ +24.5 pp |
| 2018 | 5.9% | CN¥126.08 Million | CN¥2.12 Billion | CN¥2.45 Billion | CN¥2.33 Billion | ▼ -32.5 pp |
| 2017 | 38.5% | CN¥442.28 Million | CN¥1.15 Billion | CN¥1.73 Billion | CN¥1.29 Billion | ▲ +10.1 pp |
| 2016 | 28.4% | CN¥225.25 Million | CN¥793.93 Million | CN¥1.24 Billion | CN¥1.02 Billion | ▼ -17.7 pp |
| 2015 | 46.1% | CN¥207.14 Million | CN¥449.62 Million | CN¥821.48 Million | CN¥614.34 Million | ▲ +66.0 pp |
| 2014 | -19.9% | CN¥-50.96 Million | CN¥255.63 Million | CN¥605.77 Million | CN¥656.73 Million | ▲ +52.2 pp |
| 2013 | -72.2% | CN¥-95.51 Million | CN¥132.35 Million | CN¥397.42 Million | CN¥492.94 Million | — |