Chengdu Expressway Co., Ltd. Class H (HK:1785)
:1785
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Chengdu Expressway Co., Ltd. Class H
(1785)
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Rating:65Neutral
Price Target:
HK$2.00
â–¼(-1.96% Downside)
Action:Reiterated
Date:05/09/26
The score is driven by strong valuation (low P/E and high dividend yield) offset by weaker financial quality signals—especially negative free cash flow and softer cash conversion—along with neutral-to-weak technical momentum.
Positive Factors
Strong margins
Sustained gross and net margins indicate durable pricing power and cost control in the toll business. For an infrastructure operator this supports steady operating cash flows and the ability to fund maintenance, service debt and sustain distributions over multiple years.
Negative Factors
Negative free cash flow
A material FCF deficit signals that capex or working-capital needs now absorb operating cash, reducing excess liquidity. Over months this can constrain ability to fund dividends, accelerate asset renewal, or pay down debt without issuing equity or taking on more leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong margins
Sustained gross and net margins indicate durable pricing power and cost control in the toll business. For an infrastructure operator this supports steady operating cash flows and the ability to fund maintenance, service debt and sustain distributions over multiple years.
Read all positive factors
Chengdu Expressway Co., Ltd. Class H (1785) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.38B
Dividend Yield5.25%
Average Volume (3M)18.37K
Price to Earnings (P/E)6.0
Beta (1Y)0.31
Revenue Growth1.17%
EPS Growth-0.03%
CountryHK
Employees2,375
SectorIndustrials
Sector Strength72
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)0.31
Shares Outstanding456,102,020
10 Day Avg. Volume23,800
30 Day Avg. Volume18,368
Financial Highlights & Ratios
PEG Ratio1.76
Price to Book (P/B)0.61
Price to Sales (P/S)1.07
P/FCF Ratio-7.95
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)N/A
Revenue Forecast (FY)N/A
Chengdu Expressway Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Chengdu Expressway Co., Ltd. engages in the development, operation, and management of expressways located in Chengdu, Sichuan province, China. It operates in two segments, Expressway and Energy. As of March 24, 2022, the company owned five express...
How the Company Makes Money
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Chengdu Expressway Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.87B | 2.84B | 2.92B | 2.89B | 2.60B | 2.70B |
| Gross Profit | 1.07B | 1.02B | 1.08B | 1.04B | 871.07M | 1.02B |
| EBITDA | 880.28M | 1.16B | 1.21B | 1.31B | 1.12B | 1.31B |
| Net Income | 520.29M | 538.09M | 519.52M | 618.77M | 490.15M | 614.65M |
Balance Sheet | ||||||
| Total Assets | 10.54B | 10.46B | 9.04B | 9.25B | 9.13B | 9.16B |
| Cash, Cash Equivalents and Short-Term Investments | 2.13B | 2.20B | 1.91B | 2.26B | 1.89B | 1.89B |
| Total Debt | 3.59B | 3.56B | 2.55B | 2.75B | 2.95B | 3.10B |
| Total Liabilities | 4.43B | 4.47B | 3.45B | 3.95B | 4.21B | 4.56B |
| Stockholders Equity | 5.08B | 4.98B | 4.59B | 4.35B | 4.02B | 3.70B |
Cash Flow | ||||||
| Free Cash Flow | -474.82M | -383.50M | 303.77M | 987.66M | 661.34M | 746.94M |
| Operating Cash Flow | 794.78M | 732.59M | 806.01M | 1.11B | 850.37M | 814.38M |
| Investing Cash Flow | -1.77B | -1.60B | -463.31M | -75.23M | -265.63M | -37.03M |
| Financing Cash Flow | 651.54M | 671.65M | -699.98M | -592.50M | -570.78M | -608.88M |
Chengdu Expressway Co., Ltd. Class H Technical Analysis
Neutral
2.04
Price Trends
2.06
Positive
2.07
Negative
2.08
Negative
Market Momentum
<0.01
Negative
52.38
Neutral
71.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1785, the sentiment is Neutral. The current price of 2.04 is above the 20-day moving average (MA) of 2.04, below the 50-day MA of 2.06, and below the 200-day MA of 2.08, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.38 is Neutral, neither overbought nor oversold. The STOCH value of 71.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1785.
Chengdu Expressway Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$31.10B | 10.40 | 14.74% | 5.08% | -5.31% | 10.69% | |
65 Neutral | HK$3.38B | 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$6.78B | 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$3.70B | 4.38 | 6.26% | 6.05% | -66.15% | -21.01% | |
55 Neutral | HK$24.24B | 8.30 | 4.88% | 3.72% | 4.71% | -4.62% |
* Industrials Sector Average
HK:1785
Chengdu Expressway Co., Ltd. Class H
2.05
-0.05
-2.38%
HK:0995
Anhui Expressway Company
15.91
4.81
43.37%
HK:1052
Yuexiu Transport Infrastructure
4.02
0.70
20.94%
HK:0107
Sichuan Expressway Co
5.86
1.77
43.35%
HK:0548
Shenzhen Expressway Co
7.36
0.96
14.93%
HK:1576
Qilu Expressway Co., Ltd. Class H
1.84
-0.08
-4.17%
Chengdu Expressway Co., Ltd. Class H Corporate Events
Chengdu Expressway Reshapes Board Roles After Executive Resignation
Apr 29, 2026
Chengdu Expressway Co., Ltd. announced that executive director and authorised representative Xia Wei has resigned due to work changes, and he has also stepped down from the board’s environmental, social and governance working group, with the...
Chengdu Expressway Outlines Board Composition and Key Committee Roles
Apr 29, 2026
Chengdu Expressway Co., Ltd. has announced the current composition of its board of directors, comprising executive, non-executive, and independent non-executive directors, reflecting a governance structure intended to balance management oversight ...
Chengdu Expressway Posts Unaudited First-Quarter 2026 Results
Apr 29, 2026
Chengdu Expressway Co., Ltd. has released its unaudited consolidated financial information for the three months ended 31 March 2026, as required following its earlier issuance of medium-term notes. The disclosure, prepared under China Accounting S...
Chengdu Expressway Backs RMB1 Billion Chengdu Energy Storage Fund
Apr 20, 2026
Chengdu Expressway Co., Ltd., through its subsidiary Energy Development Company, is broadening its presence beyond core toll-road operations into energy-related infrastructure investment in Chengdu. The move underscores the group’s strategy ...
Chengdu Expressway Sets Final 2025 Dividend and Clarifies Tax Terms for H-Shareholders
Apr 16, 2026
Chengdu Expressway Co., Ltd. has proposed a final dividend of RMB 0.122 per share for the financial year ended 31 December 2025, subject to shareholder approval on 14 May 2026. The company has updated key timetable details, including an ex-dividen...
Chengdu Expressway Sets AGM and Proposes 60% Payout as Final Dividend for 2025
Apr 16, 2026
Chengdu Expressway Co., Ltd., a Hong Kong-listed operator of toll roads in Sichuan Province, has convened its 2025 annual general meeting for 14 May 2026 in Chengdu to review the board’s 2025 report and appoint Deloitte Touche Tohmatsu as au...
Chengdu Expressway Sets Board Meeting to Review First-Quarter 2026 Results
Apr 13, 2026
Chengdu Expressway Co., Ltd. has scheduled a board meeting for 29 April 2026 to review and approve the unaudited quarterly results for the three months ended 31 March 2026. The meeting underscores the company’s regular financial reporting cy...
Chengdu Expressway Proposes 2025 Final Dividend and Sets Tax Terms for H-Shareholders
Mar 26, 2026
Chengdu Expressway Co., Ltd. has proposed a final ordinary cash dividend of RMB 0.122 per share for the financial year ended 31 December 2025, subject to shareholder approval on 14 May 2026. The dividend for H-share investors will be paid in Hong ...
Chengdu Expressway Revises Accounting for Government Grants and Qiongming Expressway Amortization
Mar 26, 2026
Chengdu Expressway Co., Ltd. has approved a change in its accounting policy for government grants, shifting from the net method to the gross method from 1 January 2025 to better reflect its economic activities and enhance transparency and comparab...
Chengdu Expressway Publishes Audited 2025 Results and Sets Date for Full Annual Report
Mar 26, 2026
Chengdu Expressway Co., Ltd., a Hong Kong-listed PRC joint stock company, operates a portfolio of expressways and related infrastructure around Chengdu, generating revenue primarily from toll collection and associated services. The group’s a...
Chengdu Expressway Sets March Board Meeting to Approve 2025 Results and Mull Dividend
Mar 5, 2026
Chengdu Expressway Co., Ltd. has scheduled a board meeting for 26 March 2026 to review and approve the consolidated annual results for the financial year ended 31 December 2025. The board will also consider whether to recommend a final dividend, a...
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.