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    Industrial - Infrastructure Operations
Shenzhen Expressway Corporation Limited

Shenzhen Expressway Corporation Limited

SHZNY
Shenzhen Expressway Corporation LimitedUS flagOther OTC
44.79
USD
- -
- -
2.85BMarket Cap
Shenzhen Expressway Corporation Limited
SHZNY
(Other OTC)

Recent

price

44.79

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
63.4
67.62
71.89
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
Revenue per Share
17.1
20.05
15.7
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
Basic EPS, GAAP
21.18
14.55
22.6
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
Free Cash Flow per Basic Share
15.75
18.14
20.33
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
Dividend per Share
3.97
4.22
4.37
4.57
5.41
5.67
5.81
6.25
7.97
8.5
10.57
11.72
9.79
10.25
10.04
10.65
10.61
Book Value per Share
-4.76
-4.47
-4.17
-3.57
-2
-3.17
-2.59
-6.34
-2.85
-2.4
-1.82
-0.83
-2.62
-2.14
-1.44
0.83
0.89
Tangible Book Value per Share
44
44
44
44
44
44
44
44
44
43
44
47
48
47
52
54
47
Basic Weighted Avg Shares
2,765
2,952
3,135
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
Sales/Revenue/Turnover
46.81
53.4
45.66
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
Operating Margin (%)
653
712
813
961
981
896
1,225
1,588
1,642
1,560
1,779
2,274
2,261
2,344
2,297
2,465
- -
Depreciation Expense
746
875
685
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
Net Income, GAAP
18.52
20.5
22.41
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
Effective Tax Rate (%)
26.97
29.65
21.84
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
Profit Margin (%)
-1,387
155
-1,185
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
Working Capital
8,565
10,254
8,299
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
LT Debt
9,974
10,497
10,873
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
Total Equity
5.45
6.03
5.08
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 Invested Capital (%)
5.67
6.15
5.14
5.51
11.92
9.5
7.04
6.78
12.4
- -
6.33
6.29
5.12
5.57
2.22
2.92
2.31
Return on Capital (%)
8.86
9.8
7.31
7.38
20.09
12.85
9.34
10.52
22.18
14.28
9.88
10.75
8.6
10.65
5.17
4.7
5.48
Return on Common Equity (%)

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
713,177
825,135
814,551

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
- -
- -
- -
- -
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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.