Anhui Expressway Company Limited Class H (HK:0995)
:0995
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Anhui Expressway Company
(0995)
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Rating:69Neutral
Price Target:
HK$17.50
â–²(41.59% Upside)
Action:Reiterated
Date:05/03/26
The score is driven primarily by solid fundamentals (strong margins and credible operating cash flow) but moderated by the sharp TTM revenue decline and higher leverage, which raise risk if weaker volumes persist. Technicals are supportive with an established uptrend, and valuation is attractive with a modest P/E and healthy dividend yield.
Positive Factors
Strong and improving margins
TTM gross (~55%) and net (~34%) margins that are improving provide a durable profitability buffer for a toll operator. High margins help absorb traffic volatility, preserve cash generation for maintenance and debt service, and support sustained returns despite top-line pressure.
Negative Factors
Sharp TTM revenue decline
A ~19% TTM revenue decline materially weakens the core toll revenue base. Prolonged lower traffic directly reduces cash receipts for operations and debt service, forces pricing or cost actions, and can erode the utility of fixed infrastructure assets if volumes do not recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong and improving margins
TTM gross (~55%) and net (~34%) margins that are improving provide a durable profitability buffer for a toll operator. High margins help absorb traffic volatility, preserve cash generation for maintenance and debt service, and support sustained returns despite top-line pressure.
Read all positive factors
Anhui Expressway Company (0995) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$31.07B
Dividend Yield5.08%
Average Volume (3M)1.64M
Price to Earnings (P/E)10.4
Beta (1Y)0.06
Revenue Growth-5.31%
EPS Growth10.69%
CountryHK
Employees1,936
SectorIndustrials
Sector Strength72
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)1.09
Shares Outstanding542,991,900
10 Day Avg. Volume1,186,051
30 Day Avg. Volume1,639,197
Financial Highlights & Ratios
PEG Ratio1.37
Price to Book (P/B)1.54
Price to Sales (P/S)3.02
P/FCF Ratio14.79
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)1.21
Revenue Forecast (FY)HK$6.87B
Anhui Expressway Company Business Overview & Revenue Model
Company Description
Anhui Expressway Company Limited (0995) is a prominent infrastructure enterprise primarily engaged in the operation and management of toll expressways and bridges in the Anhui Province of China. The company's core services include the development,...
How the Company Makes Money
The company primarily makes money by charging tolls for vehicles using the expressways it operates. Toll revenue is generally driven by traffic volume (vehicle counts), vehicle classification (e.g., passenger cars vs. trucks with different toll ra...
Anhui Expressway Company Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.42B | 6.55B | 7.09B | 6.63B | 5.21B | 3.92B |
| Gross Profit | 2.99B | 2.87B | 2.45B | 2.62B | 2.25B | 2.34B |
| EBITDA | 3.54B | 3.99B | 3.28B | 3.40B | 3.13B | 3.28B |
| Net Income | 1.85B | 1.83B | 1.67B | 1.66B | 1.45B | 1.51B |
Balance Sheet | ||||||
| Total Assets | 31.56B | 30.46B | 24.41B | 21.74B | 21.30B | 19.92B |
| Cash, Cash Equivalents and Short-Term Investments | 3.56B | 5.25B | 4.78B | 3.95B | 4.73B | 4.32B |
| Total Debt | 13.83B | 14.58B | 7.88B | 5.96B | 6.70B | 5.17B |
| Total Liabilities | 16.76B | 16.22B | 9.55B | 7.62B | 7.80B | 7.98B |
| Stockholders Equity | 13.36B | 12.83B | 13.34B | 12.66B | 11.92B | 11.39B |
Cash Flow | ||||||
| Free Cash Flow | 939.86M | 1.34B | 280.46M | 536.98M | 621.72M | 1.67B |
| Operating Cash Flow | 2.35B | 3.54B | 2.63B | 2.65B | 1.94B | 2.10B |
| Investing Cash Flow | -4.17B | -3.05B | -1.96B | -3.12B | -2.48B | 200.18M |
| Financing Cash Flow | 2.54B | 831.93M | 484.45M | -1.48B | 83.27M | -911.04M |
Anhui Expressway Company Technical Analysis
Neutral
12.36
Price Trends
15.09
Positive
14.15
Positive
13.30
Positive
Market Momentum
0.08
Positive
48.58
Neutral
29.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0995, the sentiment is Neutral. The current price of 12.36 is below the 20-day moving average (MA) of 15.72, below the 50-day MA of 15.09, and below the 200-day MA of 13.30, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 48.58 is Neutral, neither overbought nor oversold. The STOCH value of 29.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0995.
Anhui Expressway Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$67.15B | 8.26 | 11.50% | 5.43% | -16.77% | -1.46% | |
69 Neutral | HK$31.07B | 10.40 | 14.74% | 5.08% | -5.31% | 10.69% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | HK$6.76B | 10.49 | 5.90% | 5.26% | 12.06% | -19.10% | |
61 Neutral | HK$21.07B | 8.52 | 7.54% | 5.82% | -16.28% | -1.83% | |
60 Neutral | HK$3.54B | 4.38 | 6.26% | 6.05% | -66.15% | -21.01% | |
55 Neutral | HK$23.27B | 8.30 | 4.88% | 3.72% | 4.71% | -4.62% |
* Industrials Sector Average
HK:0995
Anhui Expressway Company
15.45
4.20
37.35%
HK:1052
Yuexiu Transport Infrastructure
4.06
0.69
20.44%
HK:0177
Jiangsu Expressway Co
10.34
0.70
7.28%
HK:0107
Sichuan Expressway Co
5.90
1.47
33.03%
HK:0548
Shenzhen Expressway Co
6.70
0.31
4.79%
HK:1576
Qilu Expressway Co., Ltd. Class H
1.78
-0.15
-7.77%
Anhui Expressway Company Corporate Events
Anhui Expressway Renews Connected Lease of Service-Area Operating Rights With Yida
Apr 30, 2026
Anhui Expressway Company Limited has renewed its arrangement to lease operating rights of its expressway service areas to Yida Company, a wholly owned subsidiary of controlling shareholder Anhui Transportation Holding Group. The new one-year lease...
Anhui Expressway Posts Lower Q1 2026 Revenue but Stronger Underlying Profit
Apr 28, 2026
Anhui Expressway Company released its unaudited first quarter 2026 results, prepared under PRC Accounting Standards, reporting operating income of RMB 1.57 billion, down 44.22% year-on-year, while total profit was roughly flat at RMB 748 million. ...
Anhui Expressway Signs Connected Contracts for G50 Expansion Project
Apr 24, 2026
Anhui Expressway Company has awarded procurement, supervision and testing contracts tied to the reconstruction and expansion of the G50 Shanghai–Chongqing Expressway section from Gezidun Junction to the Anhui–Hubei border. After an ope...
Anhui Expressway Signs Network-Wide Maintenance Contracts With Engineering Consortium
Apr 21, 2026
Anhui Expressway Company Limited has entered a series of integrated maintenance design and construction contracts with a consortium of engineering and research entities covering most of its major managed road sections and key bridge assets. The ag...
Anhui Expressway Sets April Board Meeting to Review First-Quarter 2026 Results
Apr 15, 2026
Anhui Expressway Company Limited has scheduled a board meeting for 28 April 2026 in Hefei, where directors will review and consider approval of the unaudited consolidated quarterly results for the first quarter ended 31 March 2026. The session wil...
Anhui Expressway Lifts Stake in Shenzhen Expressway in RMB428 Million Strategic Buy
Mar 30, 2026
Anhui Expressway Company Limited has increased its strategic stake in Shenzhen Expressway by acquiring 24,262,729 A shares and 31,010,000 H shares on the market for a combined consideration of roughly RMB428.8 million, funded entirely from interna...
Anhui Expressway Maintains Profitability Despite Revenue Decline and Rising Finance Costs
Mar 27, 2026
Anhui Expressway Company reported audited 2025 annual results prepared under HKFRS, showing revenue of RMB 6.72 billion, down from RMB 7.70 billion in 2024, but an improvement in gross profit to RMB 2.95 billion as cost of sales fell sharply. Prof...
Anhui Expressway Proposes RMB0.66 Final Dividend for 2025 with Clarified Tax Treatment
Mar 27, 2026
Anhui Expressway Company Limited has proposed a final ordinary cash dividend of RMB 0.66 per share for the financial year ended 31 December 2025, with payment scheduled for 31 July 2026 subject to shareholder approval. The company will apply diffe...
Anhui Expressway Signs Three‑Year Connected Financial Services Deal With Group Finance Arm
Mar 27, 2026
Anhui Expressway Company Limited has entered into a three‑year Financial Services Agreement with Anhui Transportation Finance, a wholly owned subsidiary of its controlling shareholder Anhui Transportation Holding Group, under which the finan...
Anhui Expressway Sets March 2026 Board Meeting to Approve 2025 Results
Mar 13, 2026
Anhui Expressway Company Limited has scheduled a board meeting for 27 March 2026 to review and approve the audited annual results for the year ended 31 December 2025. The board will also consider a potential profit distribution plan and other rela...
Anhui Expressway to Invest RMB5.42 Billion in G30 Lianhuo Expansion
Feb 6, 2026
Anhui Expressway Company Limited has approved an estimated RMB5.42 billion reconstruction and expansion of the Anhui section of the G30 Lianhuo Expressway, a 54-kilometre premium toll road asset currently operating as a dual four-lane expressway. ...
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.