Guangdong Provincial Expressway Development Co., Ltd.

000429.SZ

000429.SZGuangdong Provincial Expressway Development Co., Ltd.

Shenzhen

11.32

CNY

-0.18

(-1.57%)

0.77EPS

14.70P/E

22.20BMarket Cap

Oct 28Next Earn

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ISIN

CNE0000006Z6

Return %

Stock

S&P500

38.73

26.76

49.34

25.48

48.95

87.24

Use logarithmic scale

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	TTM
Revenue per Share	0.85	0.88	1.04	1.14	1.53	1.47	1.47	1.54	2.38	1.83	2.52	1.99	2.33	2.3
Basic EPS, GAAP	0.17	0.14	0.1	0.25	0.4	0.52	0.72	0.8	0.7	0.42	0.81	0.61	0.78	0.77
Free Cash Flow per Basic Share	-0.16	-0.41	0.25	0.57	0.91	0.75	0.84	0.51	1.09	0.96	1.5	0.9	1.09	-0.92
Dividend per Share	0.34	0.39	0.39	0.38	0.34	0.29	0.47	0.64	0.78	0.58	0.43	0.69	0.55	0.55
Book Value per Share	1.75	1.85	1.85	2.04	1.97	2.6	2.69	2.87	2.86	2.82	3.26	3.24	3.52	3.42
Tangible Book Value per Share	3.69	4.04	3.95	4.6	4.08	4.59	4.5	4.79	6.05	4.81	5.26	5.32	5.82	5.8
Basic Weighted Avg Shares	1,275	1,256	1,278	1,275	1,740	1,925	2,097	2,096	2,099	2,066	2,099	2,092	2,095	2,075
Sales/Revenue/Turnover	1,078	1,106	1,328	1,455	2,658	2,825	3,089	3,219	4,999	3,790	5,288	4,169	4,879	4,769
Operating Margin (%)	24.15	20.52	12.95	26.52	42.67	46.5	52.97	54.06	56.65	50.48	58.87	56.8	60.14	59.73
Depreciation Expense	380	388	677	577	846	892	826	810	1,211	1,036	1,276	1,052	1,159	- -
Net Income, GAAP	217	176	128	319	696	1,001	1,510	1,677	1,469	868	1,700	1,276	1,634	1,604
Effective Tax Rate (%)	9.11	13.8	- -	12.9	22.04	21.14	9.8	9.27	23.85	26.48	23.26	23.4	24	24.36
Profit Margin (%)	20.11	15.9	9.63	21.91	26.19	35.44	48.88	52.1	29.39	22.9	32.16	30.62	33.49	33.62
Working Capital	-507	-1,804	-467	-470	-609	1,127	413	-789	1,624	481	1,980	2,910	3,420	2,279
LT Debt	5,101	5,159	5,991	5,391	4,831	5,403	4,744	2,983	5,604	6,416	6,003	6,995	6,708	6,444
Total Equity	4,756	5,112	5,053	5,871	7,117	8,844	9,454	10,047	12,697	10,233	11,321	11,369	12,409	12,240
Return on Invested Capital (%)	2.24	1.69	- -	2.83	7	7.21	9.48	10.03	12.35	7.68	13.52	9.81	11.36	10.96
Return on Capital (%)	4.93	4.36	- -	6.65	7.87	9.77	13.01	13.88	7.29	3.83	7.75	5.82	6.82	6.72
Return on Common Equity (%)	9.88	7.73	5.45	12.86	23.07	23.7	28.35	28.76	24.43	14.68	26.84	18.71	23.06	23.12

Capital Structure

•

in mil. unless spec.

Working Capital

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in mil. unless spec.

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)	10 years	5 years	1 year
Sales/Revenue/Turnover	17.86%	13.3%	17.04%
Net Income, GAAP	41.92%	9.14%	28.01%
Free Cash Flow	36.33%	28.23%	22.14%
Total Cash Common Dividend	13.65%	1.94%	-19.44%
Total Equity	10.2%	5.43%	9.15%

Growth Rates

•

in mil. unless spec.

Quarterly Revenue

•

in mil. unless spec.

Quarterly Earnings Per Share

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in mil. unless spec.

Quarterly Dividends Per Share

•

in mil. unless spec.

Company Description

CEO: Mr. Chunhua Wang
Full Time Employees: 3,006
Sector: Industrials
Industry: Industrial - Infrastructure Operations
Address: Litong Plaza Guangzhou People's Republic of China 510623
IPO Date: Invalid Date
Website: www.gpedcl.com
Business: Guangdong Provincial Expressway Development Co., Ltd., through its subsidiaries, develops and operates expressways and bridges in the People's Republic of China. The company is also involved in the toll collection, management, and maintenance of the Guangfo Expressway, the Fokai Expressway, the Jingzhu Expressway Guangzhu section, and Guanghui Expressway. In addition, it invests in technological industries; and offers related consulting services. Further, the company provides fueling, gas station, salvation, vehicle maintenance, vehicle transport, and catering support services, as well as develops and invests in warehousing; and supplies spare parts and components. As of December 31, 2021, it operated 306.78 kilometers (km) of share-controlled expressway and 295.88 km of share-participation expressway. The company was formerly known as Guangdong Fokai Expressway Co., Ltd. and changed its name to Guangdong Provincial Expressway Development Co., Ltd. in June 1993. Guangdong Provincial Expressway Development Co., Ltd. was founded in 1993 and is headquartered in Guangzhou, the People's Republic of China. Guangdong Provincial Expressway Development Co., Ltd. is a subsidiary of Guangdong Communication Group Co., Ltd.

	Dec'23	Mar'24	Jun'24
Total Current Assets	4,957	5,142	5,251
Accounts Receivable, Net	140	172	132
Cash, Cash Equivalents & STI	4,719	4,880	4,978
Inventories	- -	- -	- -
Total Current Liabilities	1,537	1,627	2,972
Payables & Accruals	- -	- -	- -
ST Debt	993	1,122	1,248
Deferred Revenue	- -	- -	- -

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	TTM
Revenue per Share	0.85	0.88	1.04	1.14	1.53	1.47	1.47	1.54	2.38	1.83	2.52	1.99	2.33	2.3
Basic EPS, GAAP	0.17	0.14	0.1	0.25	0.4	0.52	0.72	0.8	0.7	0.42	0.81	0.61	0.78	0.77
Free Cash Flow per Basic Share	-0.16	-0.41	0.25	0.57	0.91	0.75	0.84	0.51	1.09	0.96	1.5	0.9	1.09	-0.92
Dividend per Share	0.34	0.39	0.39	0.38	0.34	0.29	0.47	0.64	0.78	0.58	0.43	0.69	0.55	0.55
Book Value per Share	1.75	1.85	1.85	2.04	1.97	2.6	2.69	2.87	2.86	2.82	3.26	3.24	3.52	3.42
Tangible Book Value per Share	3.69	4.04	3.95	4.6	4.08	4.59	4.5	4.79	6.05	4.81	5.26	5.32	5.82	5.8
Basic Weighted Avg Shares	1,275	1,256	1,278	1,275	1,740	1,925	2,097	2,096	2,099	2,066	2,099	2,092	2,095	2,075
Sales/Revenue/Turnover	1,078	1,106	1,328	1,455	2,658	2,825	3,089	3,219	4,999	3,790	5,288	4,169	4,879	4,769
Operating Margin (%)	24.15	20.52	12.95	26.52	42.67	46.5	52.97	54.06	56.65	50.48	58.87	56.8	60.14	59.73
Depreciation Expense	380	388	677	577	846	892	826	810	1,211	1,036	1,276	1,052	1,159	- -
Net Income, GAAP	217	176	128	319	696	1,001	1,510	1,677	1,469	868	1,700	1,276	1,634	1,604
Effective Tax Rate (%)	9.11	13.8	- -	12.9	22.04	21.14	9.8	9.27	23.85	26.48	23.26	23.4	24	24.36
Profit Margin (%)	20.11	15.9	9.63	21.91	26.19	35.44	48.88	52.1	29.39	22.9	32.16	30.62	33.49	33.62
Working Capital	-507	-1,804	-467	-470	-609	1,127	413	-789	1,624	481	1,980	2,910	3,420	2,279
LT Debt	5,101	5,159	5,991	5,391	4,831	5,403	4,744	2,983	5,604	6,416	6,003	6,995	6,708	6,444
Total Equity	4,756	5,112	5,053	5,871	7,117	8,844	9,454	10,047	12,697	10,233	11,321	11,369	12,409	12,240
Return on Invested Capital (%)	2.24	1.69	- -	2.83	7	7.21	9.48	10.03	12.35	7.68	13.52	9.81	11.36	10.96
Return on Capital (%)	4.93	4.36	- -	6.65	7.87	9.77	13.01	13.88	7.29	3.83	7.75	5.82	6.82	6.72
Return on Common Equity (%)	9.88	7.73	5.45	12.86	23.07	23.7	28.35	28.76	24.43	14.68	26.84	18.71	23.06	23.12

	Dec'23	Mar'24	Jun'24
ST Debt	993	1,122	1,248
LT Borrowings	6,694	6,215	6,436
LT Finance Leases	13	11	8
Preferred Equity and Hybrid Capital	- -	- -	- -
Shares Outstanding	2,091	2,091	2,091
Market Capitalization	16,463	19,732	20,520

Year	Q1	Q2	Q3	Q4	FY
2022	1,066	991	1,231	881	4,169
2023	1,155	1,186	1,347	1,191	4,879
2024	1,124	1,106	- -	- -	- -

Year	Q1	Q2	Q3	Q4	FY
2022	0.21	- -	0.2	- -	0.61
2023	0.2	- -	0.23	- -	0.78
2024	0.2	- -	- -	- -	- -

Year	Q1	Q2	Q3	Q4	FY
2022	0.05	- -	0.59	- -	0.69
2023	0.05	- -	0.46	- -	0.55
2024	0.04	- -	- -	- -	- -

Guangdong Provincial Expressway Development Co., Ltd.

Growth Rates

(avg. rate of change)

Company Description

Growth Rates

(avg. rate of change)

Working Capital

Capital Structure

Quarterly Revenue

Year

Quarterly Earnings Per Share

Year

Quarterly Dividends Per Share

Year