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Sichuan Expressway Co
(0107)
Sichuan Expressway Co (0107) vs. iShares MSCI Hong Kong ETF (EWH)
Sichuan Expressway Co Business Overview & Revenue Model
Sichuan Expressway Co Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.12B | 10.36B | 11.65B | 9.91B | 9.10B | 5.46B |
| Gross Profit | 3.25B | 3.30B | 2.93B | 1.80B | 2.35B | 1.95B |
| EBITDA | 2.46B | 3.98B | 3.75B | 2.50B | 3.81B | 1.92B |
| Net Income | 1.60B | 1.46B | 1.19B | 624.23M | 1.87B | 674.47M |
Balance Sheet | ||||||
| Total Assets | 61.31B | 61.07B | 57.66B | 40.26B | 40.73B | 40.46B |
| Cash, Cash Equivalents and Short-Term Investments | 2.49B | 2.95B | 1.98B | 2.55B | 3.84B | 3.23B |
| Total Debt | 36.30B | 36.49B | 34.58B | 19.35B | 20.04B | 18.38B |
| Total Liabilities | 40.63B | 41.57B | 40.99B | 21.54B | 22.28B | 23.93B |
| Stockholders Equity | 19.58B | 18.40B | 15.67B | 17.81B | 17.36B | 15.53B |
Cash Flow | ||||||
| Free Cash Flow | 493.18M | 652.40M | ― | ― | ― | ― |
| Operating Cash Flow | 1.41B | 3.70B | 3.23B | 2.01B | 1.58B | 2.29B |
| Investing Cash Flow | -1.18B | -3.20B | ― | ― | ― | ― |
| Financing Cash Flow | -603.34M | 464.23M | ― | 190.61M | 641.85M | 690.58M |
Sichuan Expressway Co Technical Analysis
Sichuan Expressway Co Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$7.71B | 10.07 | 5.94% | 5.26% | 7.04% | 7.64% | |
74 Outperform | HK$20.55B | 7.49 | 8.61% | 6.96% | -22.68% | 9.22% | |
66 Neutral | HK$26.85B | 10.95 | 14.89% | 5.08% | 5.50% | 11.50% | |
64 Neutral | HK$3.40B | 6.36 | 10.26% | 5.25% | 3.78% | -17.34% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$19.42B | 9.36 | 8.89% | 5.82% | -20.02% | 42.97% | |
57 Neutral | HK$23.02B | 13.60 | 5.84% | 3.72% | 7.13% | -52.33% |
Sichuan Expressway Co Corporate Events
Sichuan Expressway Company Limited has called an extraordinary general meeting for 30 January 2026 in Chengdu to seek shareholder approval for an equity transfer agreement involving the company and entities within the Shudao Investment Group. The proposed resolution would ratify, confirm and approve the signing, performance and implementation of the equity transfer deal, while granting broad authority to the board and group entities to negotiate, amend and execute all related documents, signaling a potentially significant adjustment in the company’s investment structure and strategic partnerships.
The most recent analyst rating on (HK:0107) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Sichuan Expressway Co stock, see the HK:0107 Stock Forecast page.
Sichuan Expressway Company Limited has issued a further announcement on the renewal of its Refined Oil Framework Agreement between subsidiary Zhonglu Energy and PetroChina Sichuan Sales Branch, clarifying the pricing mechanism for refined oil purchases. Under the agreement, Zhonglu Energy will set refined oil prices by benchmarking PetroChina Sichuan Group’s prices to its affiliated gas stations and comparable independent third-party suppliers, using publicly available market data from major state-owned oil companies to ensure prices do not exceed prevailing market levels, with transportation fees determined by distance, weight, risk, and comparisons with independent logistics providers. The board, including independent non-executive directors, considers the agreement and its pricing policies to be on normal commercial terms, fair and reasonable, and in the interests of the group and shareholders, suggesting that the arrangement supports transparent cost management for fuel procurement linked to the company’s core operations.
The most recent analyst rating on (HK:0107) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Sichuan Expressway Co stock, see the HK:0107 Stock Forecast page.
Sichuan Expressway Company Limited has announced the current composition of its board of directors, detailing five executive directors, three non-executive directors and four independent non-executive directors, with Chairman Luo Zuyi and Vice Chairmen You Zhiming and Yang Shaojun among the key office holders. The company also confirmed the membership and chairmanship of its four key board committees—Audit, Strategy and Sustainable Development, Nomination, and Remuneration and Appraisal—signalling a structured governance framework that clarifies oversight responsibilities and may strengthen transparency and decision-making for shareholders and other stakeholders.
Sichuan Expressway Company Limited has renewed a refined oil framework agreement under which its subsidiary Zhonglu Energy will continue to purchase specified types of refined oil and related carriage and storage services from PetroChina Sichuan Sales Branch, acting for PetroChina Sichuan Group, for the period from 1 January 2026 to 31 December 2026. The deal, which sets pricing based on PetroChina’s most favourable selling price to Zhonglu Energy and caps it at levels no higher than those offered to PetroChina’s affiliated gas stations in Sichuan, has been approved by the board and reviewed by independent non-executive directors as fair, reasonable and on normal commercial terms; as a continuing connected transaction at the subsidiary level, it will be subject only to reporting, announcement and annual review requirements under Hong Kong Listing Rules, helping the company secure stable fuel supply while limiting additional compliance burdens for shareholders.
Sichuan Expressway Company Limited reported the poll results of its extraordinary general meeting held on 24 December 2025 in Chengdu, confirming that all directors, senior management and legal advisers attended and that shareholder participation represented about 59.35% of the company’s issued voting share capital. On the key resolutions relating to construction contracts for the Chengya Expressway Expansion Project and a framework agreement for construction works and related services, the controlling shareholder Shudao Investment and its associates, which collectively hold about 39.86% of the company’s equity, abstained from voting due to their connected status, while no other shareholders were required to abstain or had indicated opposition, underscoring compliance with Hong Kong listing rules and clearing the way for the group’s planned expansion and related-party transactions to proceed with minority shareholder participation.
Sichuan Expressway Company has agreed, through its wholly owned subsidiary Shunan Company, to acquire an 85% equity interest in a target company from Shudao Innovation Investment for RMB2.41 billion, deepening its investment in expressway-related assets. As Shudao Innovation Investment is indirectly controlled by Sichuan Expressway’s controlling shareholder, the deal is classified both as a discloseable and a connected transaction under Hong Kong listing rules, requiring independent shareholders’ approval at an extraordinary general meeting and the issuance of a detailed circular including valuation and traffic study reports to assess the transaction’s terms and implications for minority investors.
Sichuan Expressway Company Limited has announced an extraordinary general meeting to discuss and approve several key resolutions, including the approval of construction contracts and a framework agreement for construction works and related services. The meeting will also address the change of the company’s PRC auditor, the proposed remuneration for a director, and the election of a new independent non-executive director. These resolutions are aimed at enhancing the company’s operational capabilities and governance structure, potentially impacting its market positioning and stakeholder interests.
Sichuan Expressway Company Limited has announced a very substantial acquisition and connected transactions related to the Chengya Expressway Expansion Project. The company has entered into several construction contracts with China Huashi, Transportation Construction Group, Road & Bridge Group, and Gaolu IT. These transactions are significant under the Listing Rules, requiring shareholder approval due to the high percentage ratios involved. An Independent Board Committee and an Independent Financial Advisor have been appointed to advise on these transactions, with an Extraordinary General Meeting (EGM) planned for shareholder voting.
Sichuan Expressway Company Limited announced its intention to change its PRC auditors from BDO China Shu Lun Pan Certified Public Accountants LLP to ShineWing Certified Public Accountants for the year 2025. This decision, driven by the company’s future business development needs and overall audit requirements, follows a comprehensive assessment and communication with BDO. The change aims to ensure that the audit services align with the company’s investor protection capabilities, independence, and integrity. The annual audit fees for ShineWing are set at RMB940,000, maintaining the same fee structure as the previous year with BDO. The change is expected to take effect upon approval at the general meeting, with no unresolved matters between the company and BDO.
Sichuan Expressway Company Limited announced that its wholly-owned subsidiary, Chengle Company, has entered into a Temporary Road Property Occupation Compensation Agreement with Chengdu West Rim Expressway Company. This agreement is part of the Chengle Expressway Expansion Construction Project and involves a compensation fee of RMB6,572,546.25 to be paid by Chengle Company for the temporary occupation of road property. The transaction is classified as a connected transaction under Hong Kong’s Listing Rules, subject to reporting and announcement requirements but exempt from independent shareholders’ approval.
Sichuan Expressway Company Limited has entered into a new Road Network Operation Guarantee Services Agreement with Intelligent Transportation Company, a subsidiary of Shudao Investment. This agreement, effective from January 2026 to December 2028, continues the collaboration under similar terms as a previous agreement, ensuring ongoing support for the company’s expressway network operations. The transaction is classified as a continuing connected transaction under Hong Kong’s Listing Rules, subject to certain reporting and review requirements but exempt from independent shareholders’ approval.
Sichuan Expressway Company Limited reported its unaudited financial results for the third quarter of 2025, showing a slight decline in operating revenue by 1.52% compared to the same period last year. However, the company experienced an increase in total profit by 4.88% and net profit attributable to shareholders by 8.96%, indicating improved profitability despite reduced revenue. The report highlights the company’s ability to enhance profitability through effective cost management and operational efficiency, which may positively impact its market positioning and stakeholder confidence.
Sichuan Expressway Company Limited announced the resignation of Madam Bu Danlu as an independent non-executive director, who has served for nearly six years. Her resignation will take effect upon the election of a new director at the upcoming general meeting. The company has nominated Mr. Luo Hong, a seasoned academic in accounting, as her successor. Mr. Luo’s extensive experience in financial management is expected to enhance the board’s diversity and expertise, aligning with the company’s commitment to board diversity and effective governance.
Sichuan Expressway Company Limited has entered into a new Framework Agreement with Shudao Investment Group for construction works and related services, set to commence on January 1, 2026, and conclude on December 31, 2026. This agreement, which follows the expiration of a previous agreement, requires shareholder approval due to its implications under the Listing Rules, as Shudao Investment is a major shareholder, holding approximately 39.861% of the company’s shares. The agreement is subject to reporting, announcement, and annual review requirements, and an Extraordinary General Meeting (EGM) will be convened to seek approval from independent shareholders.
Sichuan Expressway Company Limited announced that its subsidiary, Xingshu Supply Chain Company, has entered into a Sand and Gravel Procurement Contract with a purchaser. The contract involves supplying up to 400,000 tonnes of sand and gravel materials for the Tianmei-Le LM3 Project, with a total transaction value not exceeding RMB100 million. This transaction is classified as a connected transaction under the Hong Kong Listing Rules, subject to reporting and announcement requirements but exempt from independent shareholders’ approval.
Sichuan Expressway Company Limited announced that its consortium, which includes China Huashi and other partners, has won the bid for the Chengya Expressway Expansion Project. The Chengya Expressway Company has been established to oversee the project’s construction, operation, and management. A significant development in this project is the signing of the Huashi Construction Contract, which outlines the construction details and financial terms, with a maximum budget not exceeding RMB2.075 billion. This transaction is classified as disclosable under the Hong Kong Stock Exchange’s listing rules, indicating its importance to the company’s strategic growth and market positioning.
Sichuan Expressway Company Limited has announced that its board of directors will hold a meeting on October 30, 2025, to review and approve the unaudited third quarterly results for the nine months ending September 30, 2025. This meeting is significant as it will provide insights into the company’s financial performance and operational strategies, potentially impacting its market positioning and stakeholder interests.