CHINA MERCHANTS EXPRESSWAY NETWORK: Revenue and profit fell year-over-year, but financial stability and capital discipline were maintained

China Merchants Expressway Network & Technology said Bai Jingtao stepped down as chair after reaching retirement age, according to a Wednesday filing with the Shenzhen bourse.

Listed companies under China Merchants Group are boosting their share repurchase programs to highlight their confidence in their growth prospects, Xinhua News Agency reported Tuesday.

The companies include China Merchants Shekou Industrial Zone, , China Merchants Port Group , China Merchants Energy Shipping , China Merchants Expressway Network & Technology Holdings , Sinotrans , Liaoning Port , and China Merchants Property Operation & Service , the report said.

The move will help them guard the interests of their shareholders, consolidate confidence in the companies, and boost their investment value, the report said.

China Merchants Expressway Network & Technology's attributable profit fell 21% to 5.32 billion yuan in 2024 from 6.77 billion yuan in 2023, according to a Thursday filing with the Hong Kong bourse.

Earnings per share at the engineering services company decreased 23% to 0.76 yuan from 0.9916 yuan in the previous year.

Operating income grew 31% to 12.7 billion yuan from 9.73 billion yuan a year earlier.

Shares in the company plunged 5% during Thursday's morning trading.