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    Industrial - Infrastructure Operations
Sichuan Expressway Company Limited

Sichuan Expressway Company Limited

0107.HK
Sichuan Expressway Company LimitedHK flagHong Kong Stock Exchange
4.52
HKD
+0.01
- -
13.82BMarket Cap
Sichuan Expressway Company Limited
0107.HK
(Hong Kong Stock Exchange)

Recent

price

4.52

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.89
1.25
1.38
2.33
2.71
3.14
2.7
2.61
1.95
2.1
1.79
2.97
3.46
3.81
3.39
2.69
2.29
Revenue per Share
0.37
0.43
0.39
0.33
0.32
0.33
0.34
0.29
0.28
0.35
0.22
0.61
0.2
0.39
0.48
0.47
0.33
Basic EPS, GAAP
-0.05
-0.34
-0.34
-0.94
-0.22
-0.75
0.24
0.06
0.6
0.11
-0.21
-0.67
-0.54
-0.49
0.21
0.27
-1.12
Free Cash Flow per Basic Share
0.1
0.1
0.17
0.22
0.3
0.35
0.35
0.38
0.38
0.36
0.35
0.34
0.54
0.55
0.69
0.64
0.49
Dividend per Share
1.58
1.77
1.88
2
2.1
2.21
2.3
2.34
2.36
2.45
2.44
2.77
2.25
2.48
2.67
2.62
2.51
Book Value per Share
-0.31
-0.73
-1.37
-1.9
-2.45
-3.33
-3.65
-3.48
-3.29
-3.02
-3.66
-3.61
-8.13
-10.83
-10.63
-9.82
-10.87
Tangible Book Value per Share
3,058
3,058
3,058
3,058
3,058
3,058
3,058
3,058
3,058
3,058
3,057
3,058
3,058
3,058
3,058
3,251
3,217
Basic Weighted Avg Shares
2,729
3,807
4,210
7,135
8,300
9,608
8,266
7,984
5,969
6,408
5,459
9,095
10,581
11,652
10,362
8,758
7,359
Sales/Revenue/Turnover
51.4
43.49
38.19
23.5
20.35
18.51
22.26
22.84
31.96
33.12
28.54
20.78
16.62
19.88
25.51
28.37
24.42
Operating Margin (%)
329
360
411
517
549
593
649
826
852
867
920
953
1,176
1,252
1,260
1,284
- -
Depreciation Expense
1,145
1,304
1,181
1,010
969
996
1,047
888
849
1,083
674
1,869
624
1,187
1,459
1,513
1,051
Net Income, GAAP
15.38
15.72
15.9
17.63
17.71
19.95
20.79
25.37
25.24
22.62
26.07
14.77
26.89
19.34
17.62
18.72
20.12
Effective Tax Rate (%)
41.96
34.26
28.05
14.16
11.68
10.36
12.67
11.13
14.23
16.9
12.36
20.54
5.9
10.19
14.08
17.28
14.28
Profit Margin (%)
-287
-1,559
-431
1,568
2,068
1,919
1,498
1,006
2,126
694
-263
3,218
-516
-2,163
-1,360
2,010
-585
Working Capital
1,377
3,121
6,086
8,601
10,866
14,755
15,087
14,147
15,519
13,156
13,832
18,513
29,196
34,169
35,784
38,468
40,544
LT Debt
8,424
9,507
10,446
11,531
12,367
13,297
13,884
14,353
14,884
16,151
16,533
18,448
21,611
16,673
19,496
21,248
22,233
Total Equity
12.25
11.52
8.86
7.06
5.9
5.17
4.81
4.38
4.47
5.01
3.39
4.37
2.79
3.47
3.87
3.39
2.28
Return on Invested Capital (%)
19.42
16.98
12.54
9.03
7.03
5.97
5.78
5.75
5.56
6.33
4.18
8.11
2.57
4.35
4.41
4.06
2.99
Return on Capital (%)
25.38
25.48
21.17
17.03
15.46
15.11
15.19
12.53
11.82
14.7
9.02
23.47
8.14
16.4
18.51
18.13
12.61
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
1,383
2,273
LT Borrowings
- -
38,399
40,477
LT Finance Leases
- -
69
67
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
3,058
3,058
Market Capitalization
13,376
15,005
15,568

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
5,721
4,047
Cash, Cash Equivalents & STI
- -
4,387
2,582
Accounts Receivable, Net
- -
114
115
Inventories
- -
21
35
Total Current Liabilities
- -
3,711
4,632
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,383
2,273
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.42%
6.36%
8.99%
Free Cash Flow
39.58%
16.13%
34.83%
Net Income, GAAP
20.26%
45.45%
3.72%
Sales/Revenue/Turnover
1.64%
13.3%
-15.48%
Total Cash Common Dividend
8.13%
16.17%
-1.64%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,012
3,356
1,991
3,003
10,362
2025
1,989
2,276
- -
2,672
8,758
2026
2,411
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
- -
- -
- -
0.48
2025
0.15
- -
- -
- -
0.47
2026
0.14
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
- -
- -
- -
0.69
2025
0.09
- -
- -
- -
0.64
2026
0.09
- -
- -
- -
- -
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Business
Sichuan Expressway Company Limited engages in the investment, construction, operation, and management of expressway projects mainly in Sichuan Province, China. The company’s core offerings include toll highway, bridge, and tunnel construction and management; expressway operation services; transportation logistics; construction services encompassing upgrades and maintenance under service concession arrangements; transportation services such as advertising and rental of expressway-related properties, and operation of gas stations with associated sale of oil products. Additionally, the company has diversified into new energy technologies and city operation, as well as energy, media, and financial investments. Founded in 1997 and headquartered in Chengdu, Sichuan Expressway holds controlling interests in major toll roads in the province including Chengle, Chengren, Chengbei, Suiguang/Suixi, Tianqiong, and sections of the Rongcheng Second Bypass Expressway. Recent major developments include a substantial acquisition related to the Chengya Expressway Expansion Project, involving significant construction contracts with leading firms such as China Huashi, Transportation Construction Group, and Road & Bridge Group, reflecting a strategic expansion of its infrastructure footprint. The company entered into a strategic investment agreement through its subsidiary with China Merchants Fund to subscribe up to RMB 0.2 billion in an infrastructure fund aimed at enhancing capital efficiency and investment returns. Operational leadership changes were also noted with the election of a new vice chairman and updates in auditing firms. These moves align with Sichuan Expressway's ongoing strategy to strengthen its core businesses and expand its infrastructure and related service offerings within Sichuan and beyond. The company continuously manages over 900 kilometers of expressways, maintaining a leading position in the regional expressway infrastructure sector.