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Shenzhen Expressway Co
(0548)
Shenzhen Expressway Co (0548) vs. iShares MSCI Hong Kong ETF (EWH)
Shenzhen Expressway Co Business Overview & Revenue Model
Shenzhen Expressway Co Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.41B | 9.25B | 9.30B | 9.37B | 10.87B | 8.03B |
| Gross Profit | 2.93B | 2.92B | 3.35B | 3.02B | 3.79B | 2.81B |
| EBITDA | 2.79B | 4.05B | 5.55B | 4.75B | 5.22B | 5.19B |
| Net Income | 1.56B | 1.15B | 2.33B | 2.02B | 2.61B | 2.05B |
Balance Sheet | ||||||
| Total Assets | 72.04B | 67.56B | 67.51B | 69.20B | 60.61B | 55.14B |
| Cash, Cash Equivalents and Short-Term Investments | 7.55B | 3.04B | 2.62B | 4.75B | 4.41B | 5.55B |
| Total Debt | 27.83B | 26.70B | 27.88B | 31.17B | 20.71B | 15.42B |
| Total Liabilities | 39.81B | 40.36B | 39.51B | 41.84B | 32.84B | 28.87B |
| Stockholders Equity | 26.92B | 21.90B | 22.36B | 21.35B | 24.64B | 23.04B |
Cash Flow | ||||||
| Free Cash Flow | 266.85M | 1.66B | 2.00B | 1.28B | 143.13M | ― |
| Operating Cash Flow | 1.95B | 3.72B | 4.09B | 3.37B | 3.94B | 1.10B |
| Investing Cash Flow | -4.60B | -36.15M | -923.61M | ― | ― | ― |
| Financing Cash Flow | 4.39B | -2.81B | ― | ― | 1.67B | 3.59B |
Shenzhen Expressway Co Technical Analysis
Shenzhen Expressway Co Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$7.63B | 10.05 | 5.94% | 5.26% | 7.04% | 7.64% | |
66 Neutral | HK$26.91B | 10.98 | 14.89% | 5.08% | 5.50% | 11.50% | |
65 Neutral | $61.05B | 9.13 | 11.86% | 5.43% | 25.01% | 3.40% | |
64 Neutral | HK$3.66B | 7.77 | 10.92% | 6.05% | -21.80% | -8.00% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$19.43B | 9.45 | 8.89% | 5.82% | -20.02% | 42.97% | |
57 Neutral | HK$22.84B | 13.76 | 5.84% | 3.72% | 7.13% | -52.33% |
Shenzhen Expressway Co Corporate Events
Shenzhen Expressway has subscribed to two principal‑guaranteed, floating‑return structured deposit products issued by Jiangsu Bank, each worth RMB500 million, bringing the total investment to RMB1 billion. The deposits, subscribed on 9 and 12 January 2026 with 66‑day terms and an indicated return range of 1.2% to 3.3%, represent a short‑term treasury deployment of idle funds and form a discloseable transaction for parent Shenzhen International due to their aggregated size under Hong Kong listing rules, though they remain exempt from shareholder approval requirements.
The most recent analyst rating on (HK:0548) stock is a Hold with a HK$7.50 price target. To see the full list of analyst forecasts on Shenzhen Expressway Co stock, see the HK:0548 Stock Forecast page.
Shenzhen Expressway Corporation Limited, a major PRC expressway operator listed in Hong Kong, focuses on the development and management of toll road infrastructure supporting regional transportation and economic activity. The company has completed the issuance of the first phase of its 2026 corporate bonds in the mainland Chinese market, raising RMB1.5 billion from professional investors via an offline book-building process. The five-year bonds, priced at RMB100 each with a final coupon rate of 1.98%, are expected to strengthen the company’s funding base at a relatively low cost of capital, potentially supporting ongoing infrastructure investments and enhancing its financial flexibility within the Chinese transport infrastructure sector.
The most recent analyst rating on (HK:0548) stock is a Hold with a HK$7.50 price target. To see the full list of analyst forecasts on Shenzhen Expressway Co stock, see the HK:0548 Stock Forecast page.
Shenzhen Expressway Corporation Limited reported unaudited toll revenue figures for November 2025 across its portfolio of expressways in Shenzhen, other parts of Guangdong province and other provinces, detailing project-level contributions and average daily takings, with major assets such as the Coastal Project, Outer Ring Project, Jihe East and Qinglian Expressway remaining key revenue drivers. The board cautioned that the monthly figures are tax-exclusive, preliminary and partly based on estimates under inter-network toll settlement, and may be adjusted once full reconciliation is completed, stressing that investors should treat the data as phased statistics rather than final numbers when assessing the company’s short-term operating performance and traffic trends.
The most recent analyst rating on (HK:0548) stock is a Hold with a HK$7.50 price target. To see the full list of analyst forecasts on Shenzhen Expressway Co stock, see the HK:0548 Stock Forecast page.
Shenzhen Expressway Corporation Limited plans to tap China’s onshore bond market under an existing regulatory approval allowing it to issue up to RMB8 billion in corporate bonds to professional investors within 24 months. The board has resolved to launch Phase I of its 2026 corporate bonds on 6 January 2026, with a proposed size of up to RMB1.5 billion, with issuance to PRC professional investors and related documents to be published on the Shanghai Stock Exchange website, signalling a move to raise medium-term funding that could support its infrastructure operations and capital expenditure while potentially diversifying its financing sources.
The most recent analyst rating on (HK:0548) stock is a Hold with a HK$7.50 price target. To see the full list of analyst forecasts on Shenzhen Expressway Co stock, see the HK:0548 Stock Forecast page.
Shenzhen Expressway Co. announced the successful passage of all resolutions presented at the company’s Second Extraordinary General Meeting 2025. Key decisions included abolishing the Supervisory Committee, amendments to procedural rules, and the appointment of new directors, demonstrating the company’s ongoing efforts to improve governance and streamline operations. The resolutions are anticipated to enhance operational efficiency and align with strategic goals, positively impacting the company’s corporate structure and stakeholder relations.
Shenzhen Expressway Co., a joint stock limited company headquartered in the People’s Republic of China, operates in infrastructure development, specifically in the construction and management of expressways and related projects. The release announces the composition of the company’s board of directors and details the roles and memberships of various board committees, reflecting its governance structure. This update underscores the company’s commitment to transparency and effective management, potentially enhancing stakeholder confidence in its corporate oversight practices.
Shenzhen Expressway Corporation Limited has announced the convening of its Second Extraordinary General Meeting in December 2025 to discuss significant structural changes within the company. The company plans to abolish its Supervisory Committee, transferring its duties to the audit committee, and make amendments to its Articles of Association and procedural rules. Additionally, the election of new directors for the ninth session of the board is on the agenda, indicating a strategic shift in governance and oversight.
Shenzhen Expressway Co announced its unaudited toll revenue for October 2025, highlighting the performance of various expressways under its management. The Outer Ring Project in the Shenzhen region recorded the highest toll revenue, while the GS Expressway in other regions of Guangdong also showed significant earnings. The announcement cautions investors about potential discrepancies between these unaudited figures and future audited reports, advising careful consideration of these preliminary statistics.
Shenzhen Expressway Co has announced the closure of its register of members of H shares from December 12 to December 17, 2025, to facilitate the Second Extraordinary General Meeting on December 17, 2025. This meeting will address significant corporate governance changes, including the proposed abolishment of the supervisory committee and amendments to the articles of association, which could impact the company’s operational structure and governance.
Shenzhen Expressway Co has announced the proposed abolishment of its Supervisory Committee and amendments to its Articles of Association and related rules of procedures. This move aligns with the new regulatory framework issued by the China Securities Regulatory Commission and aims to streamline governance by transferring the duties of the Supervisory Committee to the Audit Committee. Additionally, the company has nominated Ms. Jin Zhen Yuan and Mr. Hou Sheng Hai as candidates for director positions, highlighting their extensive experience in financial management and engineering construction management, respectively. These changes are subject to approval at the upcoming extraordinary general meeting, potentially impacting the company’s governance structure and operational efficiency.
Shenzhen Expressway Co announced the resignation of Mr. Wen Liang from his position as an executive director and member of the remuneration and risk management committees due to a career change. The company has restructured these committees following his departure, ensuring continued governance and oversight. The board expressed gratitude for Mr. Wen’s contributions, and his resignation does not affect the company’s operations or stakeholder interests.
Shenzhen Expressway Co has announced the composition of its board of directors and their respective roles within the company. This announcement provides clarity on the leadership structure, which is crucial for strategic decision-making and governance, potentially impacting the company’s operational efficiency and stakeholder trust.
Shenzhen Expressway Co has announced the subscription of several structured deposit products from Jiangsu Bank, totaling RMB700 million. These transactions, completed over a series of phases, are considered discloseable under the Hong Kong Stock Exchange’s listing rules due to their aggregate value exceeding certain thresholds. The structured deposits are principal-guaranteed with floating returns, indicating a strategic financial move to manage the company’s liquidity and investment portfolio. This decision reflects the company’s ongoing efforts to optimize financial resources and maintain a strong market position in the infrastructure sector.
Shenzhen Expressway Co’s third quarterly report for 2025 indicates a slight increase in revenue by 1.34% for the quarter and 3.24% for the first nine months of the year. However, the company experienced a decline in total profit and net profit attributable to owners by 14.15% and 14.96%, respectively, for the quarter. Despite these declines, the net profit for the first nine months showed a 7.01% increase, and net cash flows from operating activities rose by 31.12%. The report highlights fluctuations in financial metrics, which may impact stakeholders’ perceptions and the company’s market positioning.
Shenzhen Expressway Co announced its unaudited toll revenue for September 2025, highlighting significant earnings from various expressways in Guangdong province and other regions. The Outer Ring Project and GS Expressway were notable contributors to the revenue. The announcement cautions investors about potential discrepancies between unaudited and final figures due to estimation processes and inter-network toll collection, advising cautious interpretation of the data.
Shenzhen Expressway Co announced that it will hold its 2025 Third Quarterly Results Presentation and Online Investor Meeting on October 31, 2025. The event will be conducted online via the Panorama Global Roadshow platform, allowing shareholders and investors to participate and engage with the company’s executive team. This presentation is part of the company’s ongoing efforts to maintain transparency and keep stakeholders informed about its financial performance and strategic direction.
Shenzhen Expressway Corporation Limited has announced a board meeting scheduled for October 30, 2025, to review and approve the company’s unaudited third-quarter results for the period ending September 30, 2025. This meeting is significant as it will provide insights into the company’s financial performance and could impact its market positioning and stakeholder interests.