1. People's Republic of China Stocks

  2. •

    Industrials

  3. •

    Industrial - Infrastructure Operations
Shenzhen Expressway Corporation Limited

Shenzhen Expressway Corporation Limited

SHZNF
Shenzhen Expressway Corporation LimitedUS flagOther OTC
0.95
USD
-NaN
- -
3.11BMarket Cap
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
1.5
1.66
1.57
2.08
2.39
2.66
2.94
3.66
4.64
3.9
3.92
3.56
3.46
4
Basic EPS, GAAP
0.33
1
0.71
0.54
0.64
1.58
1.18
0.94
1.11
0.84
0.98
0.44
0.43
0.57
Free Cash Flow per Basic Share
0.53
0.68
0.75
0.8
0.92
0.97
0.03
-0.63
-0.02
0.53
0.84
0.64
0.5
-1.35
Dividend per Share
0.39
0.38
0.66
0.49
0.58
0.59
1
0.82
1.06
1.09
1.03
0.93
0.53
0.9
Book Value per Share
2.34
3.09
3.34
3.48
2.44
3.58
4.01
4.31
3.98
4.27
4.77
4.15
4.17
4.68
Tangible Book Value per Share
-2.99
-1.39
-1.98
-1.66
-5.36
-1.86
-1.25
-0.33
1.77
0.13
0.41
0.83
2.66
3.21
Basic Weighted Avg Shares
2,181
2,180
2,181
2,182
2,180
2,181
2,173
2,195
2,348
2,403
2,370
2,596
2,679
2,355
Sales/Revenue/Turnover
3,279
3,620
3,421
4,532
5,210
5,807
6,390
8,027
10,890
9,373
9,295
9,246
9,264
9,407
Operating Margin (%)
47.25
46.7
43.01
39.18
43.27
45.98
36.95
28.87
28.07
26.51
30.27
25.75
24.97
25.41
Depreciation Expense
961
981
896
1,225
1,588
1,642
1,560
1,779
2,274
2,261
2,344
2,297
2,465
- -
Net Income, GAAP
720
2,187
1,553
1,169
1,384
3,440
2,564
2,055
2,613
2,016
2,327
1,145
1,149
1,331
Effective Tax Rate (%)
17.88
23.44
10.59
18.86
20.15
21.26
- -
17.49
16.42
21.3
18.17
30.72
28.01
26.98
Profit Margin (%)
21.95
60.41
45.39
25.8
26.56
59.24
40.13
25.6
24
21.51
25.04
12.38
12.41
14.15
Working Capital
3
1,092
4,314
3,215
-3,261
1,479
1,158
-3,954
-5,408
-13,946
-12,875
-6,531
-4,211
-157
LT Debt
8,346
7,189
4,892
5,526
12,229
13,650
13,826
10,408
17,483
15,391
16,772
24,122
20,435
25,161
Total Equity
11,239
13,120
14,961
14,711
15,789
19,540
21,048
26,279
31,533
27,364
27,999
27,202
32,052
32,225
Return on Invested Capital (%)
5.99
6.08
6
6.56
6.63
6.24
- -
4.89
5.06
3.33
3.92
2.87
2.8
2.9
Return on Capital (%)
7.13
15.61
12.42
9.19
9.02
17.03
- -
9.06
8.97
6.69
6.87
2.75
3.78
2.98
Return on Common Equity (%)
14.6
36.89
22.13
15.71
21.42
52.4
31.05
22.61
27.8
20.58
21.59
10.38
10.48
12.38

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
5,118
5,112
5,881
LT Borrowings
24,106
26,791
25,150
LT Finance Leases
16
9
11
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,181
2,538
2,538
Market Capitalization
15,694
14,187
14,005

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
7,644
12,921
12,487
Cash, Cash Equivalents & STI
3,038
8,306
7,551
Accounts Receivable, Net
957
987
986
Inventories
1,095
1,095
1,083
Total Current Liabilities
14,175
11,891
12,644
Payables & Accruals
- -
- -
- -
ST Debt
5,118
5,112
5,881
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.61%
4.81%
17.83%
Free Cash Flow
-532.55%
-655.46%
-18.93%
Net Income, GAAP
6.62%
-6.13%
0.38%
Sales/Revenue/Turnover
11.51%
4.12%
0.2%
Total Cash Common Dividend
4.11%
-1.05%
-41.49%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,038
1,719
2,103
3,386
9,246
2025
1,772
2,147
3,215
- -
9,264
2026
1,759
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.2
- -
- -
- -
0.44
2025
0.2
- -
- -
- -
0.43
2026
0.19
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.16
- -
- -
- -
0.93
2025
0.12
- -
- -
- -
0.53
2026
0.09
- -
- -
- -
- -

Company Description

APIChat
CEO
Enli Xu
Full Time Employees
7,254
Sector
Industrials
Industry
Industrial - Infrastructure Operations
Address
Hanking Center Tower Shenzhen People's Republic of China 518057
IPO Date
Jun 9, 2010
CIK
0001454480
Website
sz-expressway.com
Similar Companies
China Merchants Expressway Network & Technology Holdings Co.,Ltd. (001965.SZ)
Markolines Pavement Technologies Ltd. (MARKOLINES.NS)
Jilin Expressway Co., Ltd. (601518.SS)
Hubei Chutian Smart Communication Co.,Ltd. (600035.SS)
Jiangsu Expressway Company Limited (600377.SS)
CCR S.A. (CCRO3.SA)
Business
Shenzhen Expressway Corporation Limited is a China-based infrastructure company primarily engaged in the investment, construction, operation, and management of toll highways and transportation infrastructure. Its main products and services include toll road operations and management, expressway construction, toll station leasing, general environmental protection infrastructure such as solid waste and hazardous waste treatment, and clean energy power generation. The company also offers entrusted management services, advertising services, property development, and financial leasing. It operates primarily across Guangdong Province, including expressways like Meiguan, Jihe, Shuiguan, and Yangmao, managing a toll road network of approximately 900 kilometers with controlling interest in over 600 kilometers. Founded in 1996 and headquartered in Shenzhen, the company actively integrates advanced technologies such as electronic toll collection (ETC) and non-inductive payment systems to promote smart, digital toll road infrastructures. In the last 1-2 years, Shenzhen Expressway has focused on strategic digital transformation including building a "Smart Shenzhen Expressway" through digital intelligence empowerment, applying innovative technologies to enhance efficiency and management. It continues expanding investments, construction, and management of expressways, including extensions of concession periods, new construction, expansions, mergers, and acquisitions to maintain competitive advantages in the toll road sector. Additionally, the company pursues growth in its general environmental protection segment by accelerating business expansion in solid waste treatment and clean energy sectors. Recent significant governance changes include plans to abolish its Supervisory Committee with new directors elected to the board, signaling a governance restructuring. It has also successfully completed a multi-year bond issue raising RMB 550 million in 2024 to support its operational and expansion activities. Shenzhen Expressway remains a leading company in toll highway operation and environmental protection infrastructure in China, targeting sustainable and innovative development within the Pearl River Delta region and beyond.