Shenzhen Expressway Co (0548) AI Stock Analysis

• Market Cap: HK$25.37B
• Dividend Yield: 3.72%
• Average Volume (3M): 1.79M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.14
• Revenue Growth: 7.13%
• EPS Growth: -52.33%
• Country: HK
• Employees: 7,254
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): -0.14
• Shares Outstanding: 747,500,060
• 10 Day Avg. Volume: 1,099,835
• 30 Day Avg. Volume: 1,786,399
• PEG Ratio: -0.85
• Price to Book (P/B): 0.70
• Price to Sales (P/S): 1.80
• P/FCF Ratio: 8.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.62
• Revenue Forecast (FY): HK$11.71B

• Rating: 61 Neutral
• Price Target: HK$8.50 ▲(19.05% Upside)
• Action: Reiterated Date: 03/28/26
• Date: Action: Reiterated 03/28/26

The score is driven primarily by a mixed fundamental profile: strong recent cash flow supports resilience, but flat-to-down revenue, weaker earnings since 2023, and higher leverage add risk. Valuation is a positive offset (low P/E and moderate yield), while technicals are broadly neutral with mixed trend signals.

Positive Factors

Strong cash generation

The company’s recent improvement in operating cash flow and a ~42% jump in free cash flow in 2025 indicate durable internal funding capacity. Sustained positive FCF supports debt service, routine capex and maintenance of toll assets, increasing resilience through economic cycles.

Negative Factors

Rising leverage

Material debt increases and >1x debt/equity raise refinancing and interest-rate vulnerability. Higher leverage reduces financial flexibility for capex or concession investments and elevates default risk during traffic downturns, weakening long-term balance sheet resilience.

Shenzhen Expressway Co Business Overview & Revenue Model

Company Description

Shenzhen Expressway Corporation Limited, together with its subsidiaries, primarily invests in, constructs, operates, and manages toll highways and roads, as well as other urban and transport infrastructure in the People's Republic of China. The co...

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Shenzhen Expressway Corporation Limited, together with its subsidiaries, primarily invests in, constructs, operates, and manages toll highways and roads, as well as other urban and transport infrastructure in the People's Republic of China. The co...

How the Company Makes Money

The company primarily makes money by operating toll roads and expressways and collecting toll revenue from vehicles that use its highway assets. Revenue is driven by (i) traffic volume (vehicle throughput), (ii) toll rates and fee schedules permit...

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The company primarily makes money by operating toll roads and expressways and collecting toll revenue from vehicles that use its highway assets. Revenue is driven by (i) traffic volume (vehicle throughput), (ii) toll rates and fee schedules permit...

Shenzhen Expressway Co Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.00B	9.25B	9.30B	9.37B	10.87B
Gross Profit	2.63B	2.92B	3.35B	3.02B	3.79B
EBITDA	4.39B	4.05B	5.55B	4.75B	5.22B
Net Income	1.12B	1.15B	2.33B	2.02B	2.61B
Balance Sheet
Total Assets	71.47B	67.56B	67.51B	69.20B	60.61B
Cash, Cash Equivalents and Short-Term Investments	8.18B	3.04B	2.62B	4.75B	4.41B
Total Debt	36.43B	26.70B	27.88B	31.17B	20.71B
Total Liabilities	43.18B	40.36B	39.51B	41.84B	32.84B
Stockholders Equity	23.04B	21.90B	22.36B	21.35B	24.64B
Cash Flow
Free Cash Flow	2.01B	1.66B	2.00B	1.28B	143.13M
Operating Cash Flow	5.20B	3.72B	4.09B	3.37B	3.94B
Investing Cash Flow	-5.39B	-36.15M	-923.61M	-3.44B	-5.13B
Financing Cash Flow	2.22B	-2.81B	-4.41B	-2.34B	1.67B

Shenzhen Expressway Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0548, the sentiment is Positive. The current price of 7.14 is below the 20-day moving average (MA) of 7.57, below the 50-day MA of 7.49, and below the 200-day MA of 7.21, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 64.01 is Neutral, neither overbought nor oversold. The STOCH value of 69.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0548.

Shenzhen Expressway Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1052	74 Outperform	HK$6.73B	13.69	5.90%	5.26%	7.04%	7.64%
0995	69 Neutral	HK$28.56B	10.82	15.46%	5.08%	5.50%	11.50%
0177	64 Neutral	HK$63.07B	9.84	11.38%	5.43%	25.01%	3.40%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
0548	61 Neutral	HK$25.37B	-12.81	5.00%	3.72%	7.13%	-52.33%
0107	52 Neutral	HK$18.83B	14.25	8.39%	5.82%	-20.02%	42.97%
1576	52 Neutral	HK$3.48B	4.89	7.19%	6.05%	-21.80%	-8.00%

Shenzhen Expressway Co Corporate Events