China Merchants Expressway Network & Technology Holdings Co., Ltd. (hereinafter referred to as “CMET”), is a second-tier enterprise of China Merchants Group. In August 2016, CMET was approved by the State Administration for Industry and Commerce. And on December 25, 2017, CMET merged with Huabei Expressway Co., Ltd., successfully listed on the Shenzhen Stock Exchange, which stock code is 001965.
CMET was established by restructuring the former China Merchants Huajian Expressway Investment Co., Ltd., which predecessor was Huajian Transportation and Economic Development Center (“Huajian Center”), established on December 18, 1993. It is the only state-owned enterprise at the domestic central level that manages national toll road assets. In 1999, Huajian Center was merged into CMG, becoming a wholly owned subsidiary of it. In 2009, CMG regrouped and consolidated its expressway business, with China Merchants Asia Pacific Limited (“China Merchants Asia Pacific”, listed in Singapore) merged into Huajian Center. On June 8, 2011, approved by the State Administration for Industry and Commerce, Huajian Center was renamed as China Merchants Huajian Expressway Investment Co., Ltd. and became an operation management-oriented enterprise, being of CMG’s expressway sector. In 2016, CMG made an strategic decision to reorganize and integrate Group’s expressway business sector. Firstly, the privatization of China Merchants Asia-Pacific was achieved within the year. Secondly, strategic investors were introduced. Thirdly, the joint-stock reformation was completed. Then China Merchants Expressway Network & Technology Holdings Co., Ltd. (“CMET”) was established. China Merchants Chongqing Communications Technology Research & Design Institute Co., Ltd. (“CMCT”), which has a history of more than 50 years, was also merged into CMET by increasing its capitals. On December 25, 2017, CMET merged Huabei Expressway and was successfully listed on Shenzhen Stock Exchange, starting a new journey of leaps and bounds.
