Sichuan Expressway Co. Ltd. Class A

Sichuan Expressway Co. Ltd. Class A

4.81
HKD
-0.18
(-3.61%)
20.29BMarket Cap
Oct 29Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.51
1.76
2.04
1.75
1.69
1.27
1.36
1.16
1.93
2.24
2.47
2.2
1.75
- -
Basic EPS, GAAP
0.21
0.21
0.21
0.22
0.19
0.18
0.23
0.14
0.4
0.13
0.25
0.31
0.3
- -
Free Cash Flow per Basic Share
-0.61
-0.14
-0.49
0.15
0.04
0.39
0.07
-0.14
-0.43
-0.35
-0.32
0.14
0.18
- -
Dividend per Share
0.14
0.19
0.23
0.22
0.25
0.25
0.23
0.23
0.22
0.35
0.35
0.45
0.41
0.45
Book Value per Share
2.33
2.49
2.65
2.82
2.96
3.07
3.24
3.29
3.68
4.39
3.32
3.9
4.27
4.26
Tangible Book Value per Share
-1.35
-1.72
-2.32
-2.49
-2.34
-2.21
-2.14
-2.58
-2.57
-5.47
-7.23
-7.12
-7
-7.98
Basic Weighted Avg Shares
4,718
4,719
4,718
4,718
4,718
4,718
4,719
4,717
4,718
4,719
4,719
4,718
5,016
3,534
Sales/Revenue/Turnover
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
- -
Operating Margin (%)
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
- -
Depreciation Expense
517
549
593
649
826
852
867
920
953
1,176
1,252
1,260
1,284
- -
Net Income, GAAP
1,010
969
996
1,047
888
849
1,083
674
1,869
624
1,187
1,459
1,513
- -
Effective Tax Rate (%)
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
- -
Profit Margin (%)
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
- -
Working Capital
1,568
2,068
1,919
1,498
1,006
2,126
694
-263
3,218
-516
-2,163
-1,360
2,010
-3,917
LT Debt
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
38,058
Total Equity
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
21,949
Return on Invested Capital (%)
5.44
4.45
3.91
3.64
3.04
2.72
3.5
2.11
5.26
1.46
2.32
2.73
2.59
- -
Return on Capital (%)
6.84
5.49
4.75
4.63
4.53
4.33
4.88
3.2
6.24
1.93
3.47
3.69
3.31
- -
Return on Common Equity (%)
9.51
8.51
8.2
8.1
6.51
5.97
7.27
4.38
11.36
3.28
6.53
8.56
7.85
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,383
2,273
4,269
LT Borrowings
38,399
40,477
38,002
LT Finance Leases
69
67
56
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4,718
4,718
4,718
Market Capitalization
22,172
22,835
17,553

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,721
4,047
3,043
Cash, Cash Equivalents & STI
4,387
2,582
1,518
Accounts Receivable, Net
114
115
60
Inventories
21
35
20
Total Current Liabilities
3,711
4,632
6,960
Payables & Accruals
- -
- -
- -
ST Debt
1,383
2,273
4,269
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

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

CNY

•

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
2,534
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
0.1
0.09
0.11
0.31
2025
0.1
0.12
- -
0.07
0.3
2026
0.09
0.14
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
0.28
0.11
0.13
0.45
2025
0.06
0.31
- -
0.11
0.41
2026
0.06
0.32
- -
- -
- -

Company Description

CEO
Zhi Ming Yu
Full Time Employees
4,353
Sector
Transportation
Industry
Other transportation
Address
No. 252 Chengdu SI China 610041
IPO Date
Oct 7, 1997
Website
cygs.com
Business
Sichuan Expressway Company Limited is a leading integrated transportation infrastructure enterprise primarily engaged in the investment, design, construction, operation, toll collection, maintenance, management, and related services of high-grade highways and expressways in Sichuan Province, China. The company operates through several business segments including expressways, construction services, transportation services, transportation logistics, new energy technologies, and financial investment. Its core products and services encompass expressway infrastructure projects such as toll highways, bridges, and tunnels; construction and upgrade services under service concession and contract arrangements; advertising, property and expressway asset leasing, gas station operation, and oil product sales; commodity logistics and trading; electric vehicle charging services and charger module sales; and financial investment activities. Sichuan Expressway also operates key toll roads in Sichuan including the Chengle Expressway, Chengren Expressway, Chengbei Expressway, Suiguang/Suixi Expressway, Tianqiong Expressway, and the western section of the Rongcheng Second Bypass Expressway. Founded in 1997 and headquartered in Chengdu, it is the only A+H listed large-scale transportation infrastructure company in western China. In the latest developments, Sichuan Expressway has strategically expanded its infrastructure footprint and financial capabilities. In 2024, its wholly-owned subsidiary Shudao Chengyu Investment entered into a strategic investment agreement with China Merchants Fund to subscribe up to 0.2 billion yuan in an infrastructure fund, aiming to optimize capital returns without impacting major operations. The company also executed a capital increase of 1.209 billion yuan in Shudao Finance Leasing (Shenzhen), reinforcing its financial leverage in transportation finance. Operationally, Sichuan Expressway announced expansions related to the G0512 Chengdu-Leshan expressway corridor, facilitating road occupation and construction activities in late 2025. Additionally, the company reported a revenue increase in its highway segment by 1.18% in 2024 despite an overall group revenue decrease, alongside a 21.72% rise in profit attributable to shareholders. Board and management changes include election of Yang Shaojun as vice chairman in 2024 following a resignation. These moves reflect its focus on infrastructure growth, multimodal transportation, green energy investment, and derivative economic development along transportation routes. Sichuan Expressway targets infrastructure investors, government contracts, commercial logistics, and energy consumers primarily within Sichuan and the broader western China region. Its diversified portfolio positions it as a key regional player in highway infrastructure investment and operations, transportation services, and emerging green energy technologies. The company is listed on the Shanghai and Hong Kong Stock Exchanges under tickers 601107.SS and 0107.HK respectively. Its comprehensive service offerings and ongoing strategic investments underpin its commitment to sustainable development, enhanced capital utilization, and expansion of regional economic connectivity.