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Jiangsu Expressway Co
(0177)
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Rating:62Neutral
Price Target:
HK$11.50
â–²(20.67% Upside)
Action:Reiterated
Date:10/29/26
The score is mainly held back by fundamentals: despite strong TTM revenue growth and healthy margins, negative free cash flow and a meaningful increase in debt weaken financial flexibility. Technicals are modestly constructive with neutral momentum, and valuation is supported by a solid dividend yield and reasonable P/E.
Positive Factors
Revenue Rebound
The return to strong revenue growth indicates demand normalization across the company’s expressway operations. If maintained, improved traffic and toll activity can support operating scale, reinforce earnings resilience, and provide a stronger base for funding infrastructure needs over the next several quarters.
Negative Factors
Rising Leverage
The substantial increase in borrowing has reduced financial flexibility and raises the company’s exposure to funding costs. Higher leverage can constrain future capital allocation, make infrastructure investment more dependent on financing, and increase vulnerability if cash generation weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
The return to strong revenue growth indicates demand normalization across the company’s expressway operations. If maintained, improved traffic and toll activity can support operating scale, reinforce earnings resilience, and provide a stronger base for funding infrastructure needs over the next several quarters.
Read all positive factors
Jiangsu Expressway Co (0177) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$76.28B
Dividend Yield5.02%
Average Volume (3M)3.12M
Price to Earnings (P/E)15.2
Beta (1Y)0.14
Revenue Growth7.60%
EPS Growth4.14%
CountryHK
Employees4,463
SectorIndustrials
Sector Strength72
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)0.92
Shares Outstanding1,222,000,000
10 Day Avg. Volume1,779,051
30 Day Avg. Volume3,120,779
Financial Highlights & Ratios
PEG Ratio-1.38
Price to Book (P/B)1.09
Price to Sales (P/S)2.23
P/FCF Ratio-52.28
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)0.95
Revenue Forecast (FY)HK$21.12B
Jiangsu Expressway Co Business Overview & Revenue Model
Company Description
Jiangsu Expressway Company Limited specializes in the investment, construction, operation, and management of toll roads and bridges across the People's Republic of China. Within Jiangsu Province, its extensive network includes key expressways such...
Jiangsu Expressway Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
67
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.64B | 20.29B | 23.20B | 15.19B | 13.26B | 13.79B |
| Gross Profit | 6.13B | 6.10B | 6.10B | 5.61B | 4.41B | 5.01B |
| EBITDA | 6.56B | 9.54B | 9.82B | 9.27B | 7.72B | 7.58B |
| Net Income | 4.59B | 4.59B | 4.95B | 4.41B | 3.72B | 4.28B |
Balance Sheet | ||||||
| Total Assets | 105.52B | 96.39B | 89.89B | 78.66B | 78.46B | 67.66B |
| Cash, Cash Equivalents and Short-Term Investments | 4.81B | 2.45B | 3.99B | 4.53B | 4.41B | 3.14B |
| Total Debt | 38.04B | 26.18B | 20.77B | 31.49B | 30.30B | 20.57B |
| Total Liabilities | 47.17B | 41.41B | 40.15B | 37.77B | 40.51B | 32.30B |
| Stockholders Equity | 44.20B | 41.44B | 38.60B | 33.99B | 31.94B | 30.23B |
Cash Flow | ||||||
| Free Cash Flow | -617.97M | -864.69M | -4.49B | 3.59B | 1.49B | 2.15B |
| Operating Cash Flow | 7.79B | 6.76B | 6.32B | 7.39B | 5.53B | 5.47B |
| Investing Cash Flow | -9.42B | -5.32B | -9.39B | -2.88B | -6.43B | -6.39B |
| Financing Cash Flow | 1.60B | -1.68B | 3.08B | -4.61B | 1.21B | 1.06B |
Jiangsu Expressway Co Technical Analysis
Positive
9.53
Price Trends
10.44
Positive
10.13
Positive
9.90
Positive
Market Momentum
0.19
Positive
58.38
Neutral
17.57
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0177, the sentiment is Positive. The current price of 9.53 is below the 20-day moving average (MA) of 11.07, below the 50-day MA of 10.44, and below the 200-day MA of 9.90, indicating a bullish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 58.38 is Neutral, neither overbought nor oversold. The STOCH value of 17.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0177.
Jiangsu Expressway Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$34.55B | 15.89 | 15.04% | 4.66% | -17.37% | 6.37% | |
66 Neutral | HK$3.25B | 5.11 | 10.80% | 7.12% | 1.69% | 15.41% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$76.28B | 15.15 | 10.81% | 5.02% | 7.60% | 4.14% | |
60 Neutral | HK$20.77B | 12.99 | 7.80% | 6.98% | 7.83% | -2.71% | |
59 Neutral | HK$3.34B | 7.66 | 7.21% | 8.26% | -52.79% | -10.61% | |
56 Neutral | HK$23.02B | 37.39 | 4.87% | 4.30% | -0.39% | 9.97% |
* Industrials Sector Average
HK:0177
Jiangsu Expressway Co
11.15
2.18
24.33%
HK:0995
Anhui Expressway Company
16.27
4.51
38.30%
HK:0107
Sichuan Expressway Co
4.87
0.05
1.10%
HK:0548
Shenzhen Expressway Co
6.53
-0.41
-5.96%
HK:1576
Qilu Expressway Co., Ltd. Class H
1.67
0.03
1.71%
HK:1785
Chengdu Expressway Co., Ltd. Class H
1.96
0.09
4.64%
Jiangsu Expressway Co Corporate Events
Jiangsu Expressway Brings Forward Key Dates for 2026 Interim Dividend on H Shares
Oct 29, 2026
Jiangsu Expressway has adjusted key dates for its 2026 interim dividend on H shares, moving the ex-dividend date forward to 13 November 2026 and bringing the book closure period to 17–22 November 2026, with the record date now set at 22 Nove...
Jiangsu Expressway Sets Schedule for 2026 Interim H-Share Dividend
Oct 29, 2026
Jiangsu Expressway Company Limited has announced an interim cash dividend of RMB 0.25 per H share for the six months ended 30 June 2026, equivalent to HKD 0.29 per share based on an exchange rate of RMB 1 to HKD 1.1676. The dividend, approved by s...
Jiangsu Expressway Declares Interim Dividend and Sets Hong Kong Payout Details
Oct 28, 2026
Jiangsu Expressway Company Limited has declared an interim cash dividend of RMB 0.25 per share for the six months ended 30 June 2026, following approval by shareholders on 27 October 2026. For H-share holders in Hong Kong, the dividend will be pai...
Jiangsu Expressway Confirms Smooth Passage of 2026 First EGM Resolutions
Oct 28, 2026
Jiangsu Expressway Company Limited announced the results of its first extraordinary general meeting of 2026, held on 27 October at its Nanjing headquarters, in compliance with Hong Kong listing rules and the PRC Company Law. The meeting was chaire...
Jiangsu Expressway Board Backs Q3 Results and 15th Five-Year Plan
Oct 27, 2026
Jiangsu Expressway’s board convened its twenty-sixth meeting of the eleventh session on October 27, 2026, with all 12 directors participating in person or via audio-video link. The meeting complied with PRC company law and the firm’s a...
Jiangsu Expressway Q3 Revenue Jumps but Profit Margins Narrow
Oct 27, 2026
Jiangsu Expressway reported a sharp 70.69% year-on-year surge in third-quarter operating income to RMB 6.10 billion, while total profit fell 7.01% and net profit attributable to shareholders declined 4.47%, reflecting margin pressure despite robus...
Jiangsu Expressway Lifts Cap on Short-Term Wealth Management to RMB7 Billion
Oct 27, 2026
Jiangsu Expressway Company Limited, a Hong Kong-listed joint-stock company in the PRC transport infrastructure sector, focuses on expressway investment, construction and operation while closely managing its capital allocation and liquidity. The co...
Jiangsu Expressway Moves to Fully Acquire Suxichang South Expressway Asset
Oct 27, 2026
Jiangsu Expressway Company Limited has approved and advanced a cash acquisition of 100% equity in Jiangsu Suxichang South Expressway Co., Ltd. from three state-owned and municipal transport groups. The deal, aimed at expanding the company’s ...
Jiangsu Expressway to Hold Investor Call on 2026 Third-Quarter Results
Oct 26, 2026
Jiangsu Expressway Company Limited will publish its 2026 third-quarter report on the Shanghai Stock Exchange and Hong Kong Stock Exchange websites on 28 October 2026, and will follow up with a dedicated results presentation on 3 November 2026. The...
Jiangsu Expressway Advances RMB7.34 Billion Suxichang South Acquisition
Oct 21, 2026
Jiangsu Expressway Company Limited has advanced a major related-party transaction to acquire 100% of Jiangsu Suxichang South Expressway Co., Ltd. for a total cash consideration of RMB7.34 billion. The deal involves purchasing stakes from three sta...
Jiangsu Expressway Sets 2026 Cap for Related-Party Software Upgrade Deal
Oct 8, 2026
Jiangsu Expressway has issued a supplemental announcement detailing how it set the 2026 annual cap for a continuing connected transaction with Micro Video Company for bespoke software services. The project involves upgrading the gas station retail...
Jiangsu Expressway Clarifies Proxy Form Error for 2026 EGM
Oct 6, 2026
Jiangsu Expressway Company Limited has issued a clarification regarding the proxy form sent to H-shareholders for its first extraordinary general meeting scheduled on 27 October 2026. The company identified a clerical error in note 4 of the proxy ...
Jiangsu Expressway Sets Interim Dividend and Tax Terms for H Shareholders
Oct 5, 2026
Jiangsu Expressway Company Limited has declared an interim ordinary dividend of RMB 0.25 per H share for the six months ended 30 June 2026, payable on 31 December 2026 following shareholder approval on 27 October. The company has set the ex-divide...
Jiangsu Expressway Calls October EGM to Approve Suxichang South Expressway Acquisition
Sep 30, 2026
Jiangsu Expressway Company Limited has called its first extraordinary general meeting of 2026 for 27 October in Nanjing, with on-site voting complemented by online participation through the Shanghai Stock Exchange’s dedicated system. A share...
Jiangsu Expressway Sets Book Closure and Payment Date for 2026 Interim Dividend on H Shares
Sep 30, 2026
Jiangsu Expressway Company Limited has announced arrangements for the interim dividend on its H shares for the six months ended 30 June 2026, including a suspension of H share transfer registration from 1 December to 6 December 2026. Shareholders ...
Jiangsu Expressway Sets Interim Dividend and Tax Terms for H-Share Investors
Sep 30, 2026
Jiangsu Expressway Company Limited, a key player in China’s transport infrastructure sector, focuses on the investment, construction and operation of expressways, generating revenue primarily through toll road services. Its H-share listing i...
Jiangsu Expressway Sets October Board Meeting to Approve Q3 2026 Results
Sep 28, 2026
Jiangsu Expressway Company Limited has scheduled a board meeting to be held in Nanjing on 27 October 2026 to review and approve its third-quarter results for the nine-month period ending 30 September 2026. The meeting will also address other relat...
Jiangsu Expressway Sets October Date and Share Register Closure for 2026 Extraordinary General Meeting
Sep 21, 2026
Jiangsu Expressway Company Limited has scheduled its first extraordinary general meeting of 2026 for 27 October 2026, with a circular detailing the proposed resolutions and formal meeting notice to be dispatched to shareholders in due course. To d...
Jiangsu Expressway Delays Circular on Suxichang South Expressway Acquisition
Sep 18, 2026
Jiangsu Expressway has announced a delay in sending a shareholder circular related to its proposed cash acquisition of 100% equity interests in Suxichang South Expressway Company, a transaction previously classified as a discloseable and connected...
Jiangsu Expressway’s Controlling Shareholder Lifts Stake to 58% via Stock Connect Purchases
Sep 15, 2026
Jiangsu Expressway Company Limited has disclosed a change in equity interests among major shareholders, after its controlling shareholder Jiangsu Communications Holding Co., Ltd. increased its effective stake via a wholly owned subsidiary. Jiangsu...
Jiangsu Expressway Moves to Fully Acquire Suxichang South Expressway Asset
Aug 28, 2026
Jiangsu Expressway Company Limited has agreed to acquire the remaining equity in Suxichang South Expressway Company from Jiangsu Communications Holding, Wuxi Transportation and Changzhou Communications Holding for a total cash consideration of RMB...
Jiangsu Expressway Publishes Unaudited 2026 Interim Results With Audit Committee Backing
Aug 27, 2026
Jiangsu Expressway Company Limited, a PRC-based joint-stock company in the transport infrastructure sector, operates and invests in expressways and is listed in Shanghai, Hong Kong, and as ADRs in the United States. It adheres to China Accounting ...
Jiangsu Expressway Declares Interim Dividend for 2026
Aug 27, 2026
Jiangsu Expressway Company Limited operates in the transport infrastructure sector, focusing on the investment, construction, operation and management of expressways and related toll-road assets in China. The company is listed in Hong Kong under s...
Jiangsu Expressway injects RMB600 million into green energy subsidiary
Aug 27, 2026
Jiangsu Expressway Company Limited has approved a RMB600 million capital increase to its wholly owned subsidiary Jiangsu Yunshan Green Energy Investment Holding Company Limited, to be injected in cash over five years while retaining full ownership...
Jiangsu Expressway Signs New Connected Deals to Support Road Operations
Aug 27, 2026
Jiangsu Expressway Company Limited has approved a series of ordinary related party and continuing connected transactions, signing multiple service and leasing agreements with 20 affiliated entities on 27 August 2026. These deals span office and pr...
Jiangsu Expressway Board Backs Half-Year Results and Robust Interim Dividend
Aug 27, 2026
Jiangsu Expressway Company Limited’s board held the twenty-fifth meeting of its eleventh session on 27 August 2026, with all 12 directors attending in compliance with PRC company law and the firm’s articles of association. The meeting ...
Jiangsu Expressway Board Backs RMB 7.34 Billion Takeover of Suxichang South Expressway
Aug 20, 2026
Jiangsu Expressway’s board has approved a proposal for the company to acquire 100% of Jiangsu Suxichang South Expressway Co., Ltd. through a cash transaction, subject to shareholder approval and final valuation confirmation by state asset re...
Jiangsu Expressway to Buy Full Control of Suxichang South Expressway in RMB7.34 Billion Deal
Aug 20, 2026
Jiangsu Expressway Company Limited has approved a proposal to acquire 100% of Jiangsu Suxichang South Expressway Co., Ltd. through a cash deal valued at RMB7.34 billion, purchasing stakes from Jiangsu Communications Holding, Wuxi Transportation In...
Jiangsu Expressway Unveils 2026 Plan to Boost Quality, Efficiency and Investor Returns
Aug 20, 2026
Jiangsu Expressway has launched its 2026 “2.0 Action Plan for the Enhancement of Quality and Efficiency with Emphasis on Return” in response to a Shanghai Stock Exchange campaign and the cyclical characteristics of the expressway indus...
Jiangsu Expressway to Hold 2026 Interim Results Presentation for Investors
Aug 20, 2026
Jiangsu Expressway Company Limited will publish its 2026 interim report in Shanghai and a preliminary interim results announcement in Hong Kong on 28 August 2026. To give investors a more comprehensive understanding of operating conditions in the ...
Jiangsu Expressway Plans 2026 Interim Payout of At Least 30% of First-Half Profit
Aug 4, 2026
Jiangsu Expressway Company Limited has announced that its strategy committee has proposed an interim profit distribution plan for 2026, under which shareholders would receive no less than 30% of the company’s net profit attributable to share...
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.