Shenzhen Expressway Corporation Limited logo

Shenzhen Expressway Corporation Limited

0548.HK

HKSEIndustrialsIndustrial - Infrastructure Operations

Latest quote

HK$6.60

−HK$0.005 · -0.08%

Aug 24, 3:55 PM HKT

0548.HK company overview

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Company profile

Company website

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 transportation infrastructure in the People's Republic of China. It operates through Toll Road, Environmental Protection, and Others segments. The company offers recovery and solid waste management; clean energy power generation; construction management and highways operation management services for government and other enterprises; project development, road operation and maintenance, and construction consulting; entrusted management, advertising, finance leasing, and construction services under franchised arrangement services; property development and management; and electronic toll collection and clearing systems and services. It also provides environmental protection and infrastructure construction; capital market; wind power; kitchen waste disposal; commercial factoring; environmental and ecological monitoring agricultural science research; health, elderly care, and nursing; engineering; business and office; information technology; environment and facility; real estate; science and technology promotion and application; and real estate brokerage services. In addition, the company is involved in the leasing and management of apartments; manufacturing equipment; asphalt building materials; and ecological protection and environmental management industries. The company was incorporated in 1996 and is headquartered in Shenzhen, the People's Republic of China.

Industry
Industrial - Infrastructure Operations
Sector
Industrials
Headquarters
CN
CEO
Liao Xiangwen
Listed since
Mar 12, 1997
Employees
6,955

Market position

Volume
120K
0.13× average
Average volume
955.6K
Average daily volume
Market cap
18.28B HKD
Beta
0.32
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
17.55×
P/B (TTM)
0.89×
P/S (TTM)
2.26×
Dividend yield
2.96%

Profitability & efficiency

Gross margin
30.22%
Operating margin
17.13%
Net margin
12.76%

Financial health

Debt / equity
1.54×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends45%33%21%9%Gross margin, FY2021: 34.87%Gross margin, FY2022: 32.21%Gross margin, FY2023: 36.00%Gross margin, FY2024: 31.60%Gross margin, FY2025: 29.27%Operating margin, FY2021: 28.83%Operating margin, FY2022: 41.74%Operating margin, FY2023: 32.42%Operating margin, FY2024: 19.42%Operating margin, FY2025: 18.19%Net margin, FY2021: 24.04%Net margin, FY2022: 21.51%Net margin, FY2023: 25.04%Net margin, FY2024: 12.38%Net margin, FY2025: 12.41%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 34.87%. Gross margin FY2022 32.21%. Gross margin FY2023 36.00%. Gross margin FY2024 31.60%. Gross margin FY2025 29.27%. Operating margin FY2021 28.83%. Operating margin FY2022 41.74%. Operating margin FY2023 32.42%. Operating margin FY2024 19.42%. Operating margin FY2025 18.19%. Net margin FY2021 24.04%. Net margin FY2022 21.51%. Net margin FY2023 25.04%. Net margin FY2024 12.38%. Net margin FY2025 12.41%.

Income trends

Revenue

9.26B HKD+0.20%

Operating income

1.69B HKD-6.13%

Net income

1.15B HKD+0.38%
Income trends across reported periods11.84B HKD7.95B HKD4.06B HKD172.36M HKDRevenue, FY2021: 10.87B HKDRevenue, FY2022: 9.37B HKDRevenue, FY2023: 9.3B HKDRevenue, FY2024: 9.25B HKDRevenue, FY2025: 9.26B HKDOperating income, FY2021: 3.13B HKDOperating income, FY2022: 3.91B HKDOperating income, FY2023: 3.01B HKDOperating income, FY2024: 1.8B HKDOperating income, FY2025: 1.69B HKDNet income, FY2021: 2.61B HKDNet income, FY2022: 2.02B HKDNet income, FY2023: 2.33B HKDNet income, FY2024: 1.15B HKDNet income, FY2025: 1.15B HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 10.87B HKD. Revenue FY2022 9.37B HKD. Revenue FY2023 9.3B HKD. Revenue FY2024 9.25B HKD. Revenue FY2025 9.26B HKD. Operating income FY2021 3.13B HKD. Operating income FY2022 3.91B HKD. Operating income FY2023 3.01B HKD. Operating income FY2024 1.8B HKD. Operating income FY2025 1.69B HKD. Net income FY2021 2.61B HKD. Net income FY2022 2.02B HKD. Net income FY2023 2.33B HKD. Net income FY2024 1.15B HKD. Net income FY2025 1.15B HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue9.26B HKD9.25B HKD9.3B HKD9.37B HKD10.87B HKD
Cost of goods sold6.55B HKD6.32B HKD5.95B HKD6.35B HKD7.08B HKD
Gross profit2.71B HKD2.92B HKD3.35B HKD3.02B HKD3.79B HKD
Research and development41.6M HKD32.93M HKD33.48M HKD46.48M HKD60.57M HKD
Selling, general, and administrative81.56M HKD94.73M HKD102.38M HKD134.91M HKD158.57M HKD
Operating expenses1.03B HKD1.13B HKD332.51M HKD534.26M HKD685.23M HKD
Interest income95.73M HKD75.21M HKD70.97M HKD130.09M HKD103.64M HKD
Interest expense844.76M HKD16.33M HKD287.85M HKD1.15B HKD859.18M HKD
Depreciation and amortization2.43B HKD2.3B HKD2.34B HKD2.26B HKD2.27B HKD
Operating income1.69B HKD1.8B HKD3.01B HKD3.91B HKD3.13B HKD
Net income1.15B HKD1.15B HKD2.33B HKD2.02B HKD2.61B HKD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
0.22

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.320.15-0.02-0.18Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Q3 2024, reported Aug 23, 2024: actual 0.161, estimate —, surprise —, Comparison unavailable. Q4 2024, reported Oct 30, 2024: actual 0.281, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 21, 2025: actual -0.106, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 29, 2025: actual 0.218, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 22, 2025: actual 0.219, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 30, 2025: actual 0.211, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 25, 2026: actual -0.145, estimate —, surprise —, Comparison unavailable. Q2 2026, reported Apr 28, 2026: actual 0.218, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates3.75B3.06B2.38B1.7BQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Q3 2024, reported Aug 23, 2024: actual 1.85B HKD, estimate —, surprise —, Comparison unavailable. Q4 2024, reported Oct 30, 2024: actual 2.33B HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 21, 2025: actual 3.6B HKD, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 29, 2025: actual 1.9B HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 22, 2025: actual 2.35B HKD, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 30, 2025: actual 2.33B HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 25, 2026: actual 3.52B HKD, estimate —, surprise —, Comparison unavailable. Q2 2026, reported Apr 28, 2026: actual 2B HKD, estimate —, surprise —, Comparison unavailable.

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