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    Industrial - Infrastructure Operations
Fujian Expressway Development Co.,Ltd

Fujian Expressway Development Co.,Ltd

600033.SS
Fujian Expressway Development Co.,LtdCN flagShanghai Stock Exchange
3.43
CNY
+0.05
- -
9.41BMarket Cap
Fujian Expressway Development Co.,Ltd
600033.SS
(Shanghai Stock Exchange)

Recent

price

3.43

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
0.7
0.84
0.89
0.96
0.96
0.94
0.92
0.9
0.98
1.06
0.85
1.08
0.97
1.11
1.1
1.11
1.11
Revenue per Share
0.19
0.16
0.15
0.2
0.22
0.2
0.24
0.24
0.27
0.3
0.16
0.3
0.31
0.33
0.28
0.35
0.29
Basic EPS, GAAP
-1.22
-0.06
0.45
0.48
0.58
0.75
0.63
0.55
0.64
0.57
0.41
0.7
0.52
0.51
0.54
0.76
-0.31
Free Cash Flow per Basic Share
0.15
0.27
0.27
0.27
0.26
0.26
0.21
0.25
0.21
0.26
0.11
0.13
0.17
0.17
0.18
0.11
0.05
Dividend per Share
1.65
1.72
1.77
1.85
1.96
2.04
2.15
2.22
2.37
2.49
2.59
2.76
2.89
3.04
3.13
3.35
3.27
Book Value per Share
3.02
3.16
3.24
3.32
3.48
3.58
3.72
3.84
4.11
4.28
4.46
4.69
4.8
4.94
5.15
5.51
5.42
Tangible Book Value per Share
2,783
2,737
2,738
2,744
2,744
2,744
2,744
2,744
2,717
2,744
2,744
2,745
2,745
2,744
2,744
2,745
2,745
Basic Weighted Avg Shares
1,935
2,312
2,425
2,625
2,636
2,578
2,528
2,474
2,663
2,904
2,326
2,977
2,672
3,050
3,026
3,049
3,034
Sales/Revenue/Turnover
66.39
60.67
59.94
60.54
61.36
57.62
62.13
57.53
58.27
59.57
47.02
55.49
53.13
52.07
52.69
51.84
52.61
Operating Margin (%)
286
498
529
573
598
586
554
590
642
682
773
863
809
957
955
954
- -
Depreciation Expense
529
438
411
544
601
551
671
656
734
828
452
829
840
902
781
948
795
Net Income, GAAP
27.45
28.96
29.45
28.49
27.94
28.15
26.77
25.91
26.35
25.88
26.64
26.97
24.76
26.14
28.36
25.38
28.18
Effective Tax Rate (%)
27.32
18.94
16.93
20.72
22.79
21.37
26.55
26.52
27.55
28.5
19.44
27.85
31.46
29.59
25.8
31.1
26.21
Profit Margin (%)
-4,836
-3,856
-2,034
-1,522
-2,566
-494
-555
-2,466
-102
-1,275
-218
-837
152
899
1,258
2,569
2,008
Working Capital
2,760
6,644
7,486
7,165
4,854
6,503
5,655
2,955
4,097
1,608
2,296
1,323
1,448
1,435
820
802
821
LT Debt
8,468
8,699
8,939
9,176
9,545
9,816
10,207
10,548
11,170
11,735
12,226
12,865
13,176
13,583
14,158
15,148
14,904
Total Equity
6.74
6.05
5.97
6.63
6.91
6.34
6.84
6.42
7.11
8.07
5.17
7.85
6.94
7.67
7.35
7.38
7.31
Return on Invested Capital (%)
3.96
4.42
4.31
4.86
5.08
4.53
4.75
4.65
5.11
5.59
3.43
5.5
5.62
5.71
4.62
5.87
4.77
Return on Capital (%)
13.33
9.41
8.57
10.93
11.49
10.05
11.68
10.93
11.7
12.48
6.49
11.29
10.83
11.09
9.23
10.67
9.07
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
637
648
19
LT Borrowings
399
399
399
LT Finance Leases
421
415
422
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,744
2,744
2,744
Market Capitalization
10,647
10,570
9,719

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
2,933
3,432
3,139
Cash, Cash Equivalents & STI
1,996
2,433
2,230
Accounts Receivable, Net
831
893
803
Inventories
13
12
12
Total Current Liabilities
1,675
1,746
1,131
Payables & Accruals
- -
- -
- -
ST Debt
637
648
19
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.44%
4.39%
6.99%
Free Cash Flow
3.62%
17.4%
40.1%
Net Income, GAAP
9.89%
20.01%
21.45%
Sales/Revenue/Turnover
2.46%
6.37%
0.76%
Total Cash Common Dividend
-2.99%
3.38%
-38.52%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
747
730
791
758
3,026
2025
744
741
751
- -
3,049
2026
735
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
- -
- -
- -
0.28
2025
0.09
- -
- -
- -
0.35
2026
0.09
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.18
2025
- -
- -
- -
- -
0.11
2026
- -
- -
- -
- -
- -
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Business
Fujian Expressway Development Co., Ltd (600033.SS) is a China-based company principally engaged in the investment, construction, toll collection, maintenance, operation and management of expressways. The company operates key expressways including Fuquan, Ronin, Punan and Quanxia; it also provides vehicle rescue services. Founded in 1999 and headquartered in Fuzhou, China, Fujian Expressway focuses on infrastructure operations within the industrials sector, primarily serving regional traffic in Fujian province with approximately 600 kilometers of toll roads under management and plans to expand by an additional 200 kilometers by 2025. Recent strategic initiatives include the acquisition of a 30% stake in another toll road operator in Fujian to boost revenue streams by approximately 10% annually, implementation of smart highway technologies such as real-time traffic management systems, and partnerships with technology firms and local governments for public-private partnerships in new infrastructure projects. In 2024, the company reported revenue of CNY 3.03 billion with net income of CNY 795 million, reflecting stable operations amid post-pandemic traffic recovery and diversification into service area enhancements.