Sichuan Expressway Co Ltd Class H (HK:0107)
:0107
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Sichuan Expressway Co
(0107)
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Rating:61Neutral
Price Target:
HK$6.00
â–²(10.50% Upside)
Action:Reiterated
Date:05/04/26
Overall score is driven primarily by mid-range financial quality: strong reported margins and a TTM revenue rebound are offset by high leverage and volatile/free-cash-flow weakness. Technicals are constructive with a clear uptrend and positive momentum indicators, while valuation is supported by a high dividend yield and a moderate P/E.
Positive Factors
Strong and improving margins
Sichuan Expressway's reported TTM gross (~33%) and net (~16%) margins indicate durable operating leverage typical of toll-road assets. High margins support earnings resilience through traffic cycles, enabling reinvestment and dividend capacity even if top-line growth fluctuates.
Negative Factors
High leverage
Leverage near 2.0x equity raises refinancing and interest-rate sensitivity for a capital-intensive operator. Elevated debt limits balance-sheet flexibility for new projects or shocks, increases financing costs, and makes dividends and capex more dependent on external funding conditions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong and improving margins
Sichuan Expressway's reported TTM gross (~33%) and net (~16%) margins indicate durable operating leverage typical of toll-road assets. High margins support earnings resilience through traffic cycles, enabling reinvestment and dividend capacity even if top-line growth fluctuates.
Read all positive factors
Sichuan Expressway Co (0107) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$21.23B
Dividend Yield5.82%
Average Volume (3M)2.63M
Price to Earnings (P/E)8.5
Beta (1Y)<0.01
Revenue Growth-16.28%
EPS Growth-1.83%
CountryHK
Employees4,548
SectorIndustrials
Sector Strength72
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)0.27
Shares Outstanding895,320,000
10 Day Avg. Volume3,790,396
30 Day Avg. Volume2,633,362
Financial Highlights & Ratios
PEG Ratio4.56
Price to Book (P/B)1.07
Price to Sales (P/S)2.46
P/FCF Ratio24.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.58
Revenue Forecast (FY)HK$10.66B
Sichuan Expressway Co Business Overview & Revenue Model
Company Description
Sichuan Expressway Company Limited, together with its subsidiaries, invests in, constructs, operates, and manages expressway infrastructure projects in Sichuan Province, the People's Republic of China. It operates through five segments: Toll Roads...
How the Company Makes Money
Sichuan Expressway primarily makes money from operating toll roads. Its main revenue stream is toll income collected from vehicles using the expressways it operates, typically charged based on distance traveled, vehicle class, and applicable tarif...
Sichuan Expressway Co Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
52
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.36B | 8.76B | 10.36B | 11.65B | 9.91B | 9.10B |
| Gross Profit | 2.21B | 3.05B | 3.30B | 2.93B | 1.80B | 2.35B |
| EBITDA | 1.49B | 3.78B | 3.98B | 3.75B | 2.50B | 3.81B |
| Net Income | 1.05B | 1.51B | 1.46B | 1.19B | 624.23M | 1.87B |
Balance Sheet | ||||||
| Total Assets | 67.77B | 63.71B | 61.07B | 57.66B | 40.26B | 40.73B |
| Cash, Cash Equivalents and Short-Term Investments | 2.58B | 4.39B | 2.95B | 1.98B | 2.55B | 3.84B |
| Total Debt | 41.05B | 38.48B | 36.49B | 34.58B | 19.35B | 20.04B |
| Total Liabilities | 45.54B | 42.46B | 41.57B | 40.99B | 21.54B | 22.28B |
| Stockholders Equity | 20.57B | 20.15B | 18.40B | 15.67B | 17.81B | 17.36B |
Cash Flow | ||||||
| Free Cash Flow | -1.06B | 879.62M | 652.40M | -1.51B | -2.06B | -2.05B |
| Operating Cash Flow | 2.56B | 3.32B | 3.70B | 3.23B | 2.01B | 1.58B |
| Investing Cash Flow | -6.09B | -2.41B | -3.20B | -1.98B | -3.48B | -1.56B |
| Financing Cash Flow | -113.52M | 520.97M | 464.23M | -1.86B | 190.61M | 641.85M |
Sichuan Expressway Co Technical Analysis
Positive
5.43
Price Trends
5.71
Positive
5.56
Positive
5.27
Positive
Market Momentum
0.08
Negative
63.97
Neutral
98.72
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0107, the sentiment is Positive. The current price of 5.43 is below the 20-day moving average (MA) of 5.84, below the 50-day MA of 5.71, and above the 200-day MA of 5.27, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 63.97 is Neutral, neither overbought nor oversold. The STOCH value of 98.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0107.
Sichuan Expressway Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$66.46B | 8.26 | 11.50% | 5.43% | -16.77% | -1.46% | |
69 Neutral | HK$30.27B | 10.40 | 14.74% | 5.08% | -5.31% | 10.69% | |
65 Neutral | HK$3.21B | 6.01 | 10.60% | 5.25% | 1.17% | -0.03% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | HK$21.23B | 8.52 | 7.54% | 5.82% | -16.28% | -1.83% | |
60 Neutral | HK$3.70B | 4.38 | 6.26% | 6.05% | -66.15% | -21.01% | |
55 Neutral | HK$23.57B | 8.30 | 4.88% | 3.72% | 4.71% | -4.62% |
* Industrials Sector Average
HK:0107
Sichuan Expressway Co
6.08
1.81
42.52%
HK:0995
Anhui Expressway Company
15.44
4.08
35.88%
HK:0177
Jiangsu Expressway Co
10.46
1.08
11.50%
HK:0548
Shenzhen Expressway Co
7.00
0.67
10.64%
HK:1576
Qilu Expressway Co., Ltd. Class H
1.80
-0.14
-7.22%
HK:1785
Chengdu Expressway Co., Ltd. Class H
1.96
0.01
0.67%
Sichuan Expressway Co Corporate Events
Sichuan Expressway Unit Ends RMB100 Million Sand and Gravel Supply Contract
Apr 30, 2026
Sichuan Expressway Company Limited has terminated a sand and gravel procurement contract previously signed between its indirect non-wholly owned subsidiary Sichuan Chengyu Xingshu Supply Chain Management Company Limited and the LM Project Manageme...
Sichuan Expressway Wins Strong Shareholder Backing for Ninth Board Remuneration Plans
Apr 29, 2026
Sichuan Expressway Company Limited reported the poll results of its 29 April 2026 extraordinary general meeting in Chengdu, where shareholders representing about 60.31% of issued shares attended in person or by proxy. Both A share and H share hold...
Sichuan Expressway Sets Out Board Line-Up and Governance Committee Roles
Apr 29, 2026
Sichuan Expressway Company Limited has disclosed the current composition of its board of directors, detailing the mix of executive, non-executive, independent non-executive and employee directors and their respective leadership roles. The announce...
Sichuan Expressway Q1 2026 Revenue Climbs as Profit Margins Tighten
Apr 29, 2026
Sichuan Expressway Company Limited reported unaudited first-quarter 2026 results prepared under PRC accounting standards, showing operating revenue of RMB 2.41 billion, up about 21% year on year after adjustment, with net profit attributable to sh...
Sichuan Expressway Sets 2025 AGM, Proposes Final Dividend and Bond Issuance
Apr 20, 2026
Sichuan Expressway Company Limited has called its 2025 annual general meeting for 22 May 2026 in Chengdu, where shareholders will vote on key matters including the 2025 profit distribution and dividend plan, approval of annual reports, a bond issu...
Sichuan Expressway Sets Board Meeting to Approve Q1 2026 Results
Apr 15, 2026
Sichuan Expressway Company Limited has scheduled a board meeting for 29 April 2026 to review and approve the unaudited first-quarter results for the three months ended 31 March 2026.The board will also consider the release of these quarterly figur...
Sichuan Expressway Calls April 2026 EGM to Reset Board and Pay Structure
Apr 9, 2026
Sichuan Expressway Company Limited has convened an extraordinary general meeting for 29 April 2026 in Chengdu to decide on a new remuneration framework for its ninth-term board and to elect a full slate of executive, non-executive, and independent...
Sichuan Expressway Sets Out Board Line-Up and Committee Roles
Apr 2, 2026
Sichuan Expressway Company Limited has announced the current composition of its board of directors, detailing the roles of executive, non-executive, independent non-executive and an employee director, with Chairman Luo Zuyi and Vice Chairmen You Z...
Sichuan Expressway Lifts Profit and Dividend Despite Revenue Decline in 2025
Mar 30, 2026
Sichuan Expressway Company Limited reported a 16.34% drop in net revenue to RMB8.57 billion for 2025, reflecting weaker top-line performance in its core toll road business. Despite the revenue decline, profit attributable to owners rose 4.52% to R...
Sichuan Expressway Proposes Final 2025 Dividend of RMB 0.297 Per Share
Mar 30, 2026
Sichuan Expressway Company Limited has proposed a final ordinary dividend of RMB 0.297 per share for the financial year ended 31 December 2025, subject to shareholder approval on 22 May 2026. The dividend for H-share investors will be paid in Hong...
Sichuan Expressway Names Li Tao as Employee Director on Eighth Board
Mar 25, 2026
Sichuan Expressway Company Limited has appointed 55-year-old Li Tao as the employee director on its eighth board of directors, following her election at an employee representatives’ meeting on 25 March 2026. Her term begins with immediate ef...
Sichuan Expressway Sets Out Board Composition and Committee Roles
Mar 25, 2026
Sichuan Expressway Company Limited has announced the current composition of its board of directors, comprising executive, non-executive, independent non-executive, and employee directors, with Chairman Luo Zuyi and Vice Chairmen You Zhiming and Ya...
Sichuan Expressway Sets March 30 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 10, 2026
Sichuan Expressway Company Limited has scheduled a board meeting for 30 March 2026 to review and approve the annual financial results for the year ended 31 December 2025 for the company and its subsidiaries. The board will also consider a proposal...
Sichuan Expressway Announces Routine Retirement of Non-Executive Director
Feb 10, 2026
Sichuan Expressway Company Limited announced that non-executive director Mr. Chen Chaoxiong has resigned from the board and from the remuneration and appraisal committee upon reaching the company’s retirement age, with effect from 10 Februar...
Sichuan Expressway Details Board Structure and Committee Roles
Feb 10, 2026
Sichuan Expressway Company Limited has announced the current composition of its board of directors, detailing its executive, non-executive and independent non-executive members, including Chairman Luo Zuyi and several vice chairmen. The company al...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.