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Chengdu Expressway Co., Ltd. Class H

Chengdu Expressway Co., Ltd. Class H

HHKEX:1785
1.95
HKD
+0.05
(+2.36%)
3.40BMarket Cap
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
0.49
0.74
1.12
1.11
1.4
1.23
1.63
1.57
1.75
1.76
1.77
- -
Basic EPS, GAAP
0.15
0.17
0.21
0.25
0.3
0.21
0.37
0.29
0.37
0.31
0.33
- -
Free Cash Flow per Basic Share
0.29
0.33
0.2
0.01
0.38
0.57
0.42
0.4
0.6
0.18
- -
- -
Dividend per Share
0.08
0.02
0.07
0.13
0.14
0.22
0.23
0.25
0.29
0.28
0.18
- -
Book Value per Share
0.75
0.97
1.29
1.41
2.33
1.98
2.23
2.43
2.63
2.77
3.01
3.01
Tangible Book Value per Share
-0.67
-0.62
-0.8
-0.61
-1.58
-1.87
-1.47
-1.14
-0.67
-0.37
0.02
0.02
Basic Weighted Avg Shares
1,600
1,600
1,600
1,656
1,639
1,656
1,656
1,656
1,656
1,656
1,656
1,656
Sales/Revenue/Turnover
785
1,185
1,784
1,830
2,301
2,038
2,702
2,597
2,894
2,915
2,929
- -
Operating Margin (%)
56.09
35.41
25.31
29.54
31.26
24.38
30.7
27.84
29.23
27.82
28.37
- -
Depreciation Expense
19
19
17
19
73
80
345
320
33
39
41
- -
Net Income, GAAP
245
278
339
415
485
341
615
490
619
520
552
- -
Effective Tax Rate (%)
15.12
14.82
14.14
14.73
18.48
11.57
17.04
16.64
17.93
27.52
26.11
- -
Profit Margin (%)
31.2
23.49
18.99
22.7
21.08
16.75
22.74
18.88
21.38
17.82
18.86
- -
Working Capital
2,042
607
10
-98
657
416
769
769
1,576
1,502
1,137
1,137
LT Debt
2,853
1,374
1,211
1,329
2,793
3,091
2,852
2,441
2,520
2,235
2,220
2,220
Total Equity
1,680
2,054
2,267
2,464
4,735
4,172
4,601
4,960
5,302
5,592
5,990
5,990
Return on Invested Capital (%)
- -
7.67
10.35
11.78
9.81
4.67
8.76
6.9
8.2
7.09
6.38
- -
Return on Capital (%)
- -
7.83
10.07
11.53
8.91
5.61
8.66
6.7
8.39
6.71
6.72
- -
Return on Common Equity (%)
- -
19.64
18.15
18.61
15.67
9.56
17.48
12.6
14.78
11.62
11.55
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
312
652
1,034
LT Borrowings
2,177
2,092
2,172
LT Finance Leases
58
57
49
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,656
1,656
1,656
Market Capitalization
3,719
3,204
3,053

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
2,405
2,664
3,026
Cash, Cash Equivalents & STI
1,909
1,927
2,202
Accounts Receivable, Net
366
560
639
Inventories
27
19
22
Total Current Liabilities
903
1,403
1,888
Payables & Accruals
- -
- -
- -
ST Debt
312
652
1,034
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
15.91%
7.51%
7.11%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
12.14%
15.26%
6.33%
Sales/Revenue/Turnover
15.97%
8.26%
0.46%
Total Cash Common Dividend
28.5%
-1.92%
-35.91%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
810
687
2,894
2024
- -
- -
- -
- -
2,915
2025
- -
- -
- -
- -
2,929

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
0.12
0.06
0.37
2024
- -
- -
- -
- -
0.31
2025
- -
- -
- -
- -
0.33

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
0.22
0.01
0.29
2024
- -
- -
- -
- -
0.28
2025
- -
- -
- -
- -
0.18

Company Description

Company Profile APIChatGPT
CEO
Xiao Wu
Full Time Employees
2,339
Sector
Industrial services
Industry
Engineering & construction
Address
Chengnan Tianfu Building Chengdu SI China
IPO Date
Jan 15, 2019
Website
chengdugs.com
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Business
Chengdu Expressway Co., Ltd. (1785.HK) engages principally in the operation, management and development of expressways including service areas located in and around Chengdu, Sichuan Province, Mainland China, together with retailing of refined oil and natural gas; the company operates through expressway and energy segments. It owns five expressways encompassing Chengguan Expressway (40.44 km, connecting to Gansu, Qinghai and Tibet), Chengpeng Expressway (21.32 km, part of radial network to northern Sichuan), Chengwenqiong Expressway (65.60 km, linking western satellite cities), Chengdu Airport Expressway (11.98 km, to Shuangliu Airport) and Qiongming Expressway (52.68 km, extending to Yunnan and Tibet), totaling 192.02 km; it also manages under entrustment Tianfu Airport Expressway (88.25 km to Tianfu International Airport), Pudu Expressway (101.42 km ring road section) and Cangba Expressway (93.08 km to northeast Sichuan), for aggregate operated mileage of 474.77 km. In energy operations, it runs 26 petrol stations, 4 gas stations under construction via subsidiaries including Zhongyou Energy, Communications Investment Energy and Xinyuanli Energy, alongside associates such as Sinopec Chengdu Energy and Chengdu Tongneng for refined oil, compressed natural gas and new energy vehicle charging; it targets vehicles and local governments in Sichuan with tolls, fuel sales, convenience stores, maintenance and rentals. Founded in 1998 and headquartered at 66 Shenghe 1st Road, High-Tech Zone, Chengdu, the company is a subsidiary of Chengdu Highway Construction and Development Co., Ltd. (now Communications Investment Construction and Management); it changed name from Chengdu Chengguan Expressway Co., Ltd. in 2016. Recent developments include approval from Sichuan Development and Reform Commission in August 2024 for the Chengwenqiong Expressway Expansion Construction Project; signing of a RMB780 million land acquisition agreement for Chongzhou section in June 2025 with local government; award of RMB4.6 billion contracts for expansion projects in June 2025; addition of Cangba Expressway management and construction revenues in 2024; and withdrawal of A-share listing application from Shanghai Stock Exchange in June 2024 amid policy shifts.