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Zhejiang Expressway Co ( (HK:0576) ) has provided an update.
Zhejiang Expressway Co., Ltd. has revised the planned use of funds raised from its 2023 rights issue, reallocating RMB1.5 billion originally earmarked for reconstruction and expansion of existing expressways to cover daily operating expenses, including liquidity replenishment and loan repayments. After this change, approximately RMB2.33 billion of the remaining RMB3.95 billion in net proceeds will still be devoted to expressway reconstruction and expansion projects, expected to be fully utilized by the end of 2028, while around RMB1.62 billion will support operating needs through 2026. The board said the move reflects updated project progress and funding requirements and is intended to improve cash flow management, reduce financing costs and leverage, and provide more flexible financial support for ongoing operations without altering the group’s core business focus.
The most recent analyst rating on (HK:0576) stock is a Buy with a HK$7.50 price target. To see the full list of analyst forecasts on Zhejiang Expressway Co stock, see the HK:0576 Stock Forecast page.
More about Zhejiang Expressway Co
Zhejiang Expressway Co., Ltd. is a PRC-incorporated joint stock company primarily engaged in the investment, construction, operation and management of expressways. The group’s core business centers on toll expressway projects and related infrastructure in China, with revenues largely driven by traffic flows and associated operating services along its expressway network.
Average Trading Volume: 3,940,801
Current Market Cap: HK$43.96B
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