1. People's Republic of China Stocks

  2. •

    Industrials

  3. •

    Industrial - Infrastructure Operations
Shenzhen Expressway Corporation Limited

Shenzhen Expressway Corporation Limited

SHZNY
Shenzhen Expressway Corporation LimitedUS flagOther OTC
44.79
USD
- -
- -
2.85BMarket 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
75.18
83.02
78.43
103.87
119.53
133.11
147.03
182.84
231.91
194.98
196.12
178.04
172.9
199.76
Basic EPS, GAAP
16.5
50.15
35.6
26.8
31.75
78.85
59
46.8
55.65
41.95
49.1
22.05
21.45
28.26
Free Cash Flow per Basic Share
26.38
33.96
37.67
39.98
46
48.43
1.69
-31.51
-0.88
26.59
42.22
31.93
25.08
-67.31
Dividend per Share
19.28
19.11
32.85
24.48
29.16
29.56
50.21
40.85
52.98
54.7
51.62
46.52
26.38
44.8
Book Value per Share
117.16
154.68
167.03
174.13
122.13
178.9
200.43
215.46
198.87
213.49
238.26
207.34
208.39
234
Tangible Book Value per Share
-149.42
-69.59
-98.87
-82.79
-267.82
-92.98
-62.39
-16.68
88.74
6.41
20.69
41.38
133.07
160.63
Basic Weighted Avg Shares
44
44
44
44
44
44
43
44
47
48
47
52
54
47
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
15,797
15,312
15,115

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
9.75
- -
- -
- -
22.05
2025
10.15
- -
- -
- -
21.45
2026
9.6
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7.83
- -
- -
- -
46.52
2025
5.82
- -
- -
- -
26.38
2026
4.68
- -
- -
- -
- -

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
May 11, 2012
CIK
0001454480
Website
sz-expressway.com
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Business
Shenzhen Expressway Corporation Limited (SHZNY) engages primarily in the investment, construction, operation and management of toll highways and general environmental protection businesses in China. The company operates through Toll Road, Environmental Protection, and Others segments; its core toll road activities encompass expressways such as Meiguan Expressway, Jihe Expressway, Shuiguan Expressway, Yangmao Expressway, and others totaling approximately 900 kilometers in length with controlling interest over more than 600 kilometers, mainly in Shenzhen, the Guangdong-Hong Kong-Macao Greater Bay Area, and economically developed regions. It provides electronic toll collection and clearing systems; recovery and solid waste management including kitchen waste disposal; clean energy power generation such as wind power; construction management, highways operation and maintenance, road operation and maintenance, construction consulting, and industrial financial services; entrusted management, advertising, finance leasing, and construction services under franchised arrangements; property development and management; leasing and management of apartments; manufacturing of equipment; asphalt materials production; and ecological protection, environmental governance, environmental and ecological monitoring, agricultural science research, health, elderly care, nursing, engineering, business and office, information technology, environment and facility, real estate, science and technology promotion, and real estate brokerage services. Founded in 1996 and headquartered in Shenzhen, People's Republic of China, the company maintains operations across 23 provinces with approximately 7,000 to 7,254 employees and total assets of CNY 57.9 billion. Recent strategic initiatives include investing approximately RMB 19.23 billion in the expansion and reconstruction of Jihe Expressway Phase III and other projects to enrich high-quality road assets; actively extending concession periods, pursuing mergers and acquisitions, resource integration, new construction, and expansions in toll roads; enhancing operational management services for nearly 90% of Shenzhen's expressways; advancing solid waste recycling treatment and clean energy power generation through increased resource investment; introducing innovative technologies like ETC and non-inductive payments for intelligent toll road development; and releasing 2025 interim results with a continued focus on toll highway operations and environmental protection.