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Jiangsu Expressway Co
(0177)
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Rating:64Neutral
Price Target:
HK$10.00
â–²(4.93% Upside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by solid underlying profitability and a generally stable balance sheet, but it is held back by weak/volatile free cash flow conversion. Technical signals are also soft (below major moving averages and negative MACD), while valuation and dividend yield provide a meaningful offset.
Positive Factors
Strong and durable profitability
High margins show that the expressway network converts revenue into substantial operating and net profit. This provides resilience against moderate cost inflation and supports ongoing funding of maintenance and operations.
Negative Factors
Weak and inconsistent free cash flow
Limited conversion of accounting profit into discretionary cash suggests substantial investment requirements or working-capital swings. This can restrict debt reduction, dividends, and expansion flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong and durable profitability
High margins show that the expressway network converts revenue into substantial operating and net profit. This provides resilience against moderate cost inflation and supports ongoing funding of maintenance and operations.
Read all positive factors
Jiangsu Expressway Co (0177) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$67.46B
Dividend Yield5.66%
Average Volume (3M)4.25M
Price to Earnings (P/E)13.4
Beta (1Y)0.15
Revenue Growth-7.89%
EPS Growth4.70%
CountryHK
Employees4,463
SectorIndustrials
Sector Strength72
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)0.92
Shares Outstanding1,222,000,000
10 Day Avg. Volume3,627,401
30 Day Avg. Volume4,245,433
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 Target
HK$13.54Price Target Upside42.08% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.95
Revenue Forecast (FY)HK$20.66B
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...
How the Company Makes Money
The company primarily makes money by operating toll expressways and collecting toll revenue from vehicles using its road network. Its earnings are driven by (i) traffic volume (vehicle flow), (ii) toll rates and pricing policies applicable to diff...
Jiangsu Expressway Co Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.11B | 20.29B | 23.20B | 15.19B | 13.26B | 13.79B |
| Gross Profit | 6.16B | 6.10B | 6.10B | 5.61B | 4.41B | 5.01B |
| EBITDA | 6.14B | 9.54B | 9.82B | 9.27B | 7.72B | 7.58B |
| Net Income | 4.66B | 4.59B | 4.95B | 4.41B | 3.72B | 4.28B |
Balance Sheet | ||||||
| Total Assets | 101.86B | 96.39B | 89.89B | 78.66B | 78.46B | 67.66B |
| Cash, Cash Equivalents and Short-Term Investments | 5.70B | 2.45B | 3.99B | 4.53B | 4.41B | 3.14B |
| Total Debt | 6.16B | 26.18B | 20.77B | 31.49B | 30.30B | 20.57B |
| Total Liabilities | 46.33B | 41.41B | 40.15B | 37.77B | 40.51B | 32.30B |
| Stockholders Equity | 41.53B | 41.44B | 38.60B | 33.99B | 31.94B | 30.23B |
Cash Flow | ||||||
| Free Cash Flow | 604.18M | -864.69M | -4.49B | 3.59B | 1.49B | 2.15B |
| Operating Cash Flow | 7.83B | 6.76B | 6.32B | 7.39B | 5.53B | 5.47B |
| Investing Cash Flow | -6.35B | -5.32B | -9.39B | -2.88B | -6.43B | -6.39B |
| Financing Cash Flow | -543.90M | -1.68B | 3.08B | -4.61B | 1.21B | 1.06B |
Jiangsu Expressway Co Technical Analysis
Positive
9.53
Price Trends
9.67
Positive
9.88
Positive
9.66
Positive
Market Momentum
0.02
Negative
62.36
Neutral
86.01
Negative
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 9.57, below the 50-day MA of 9.67, and below the 200-day MA of 9.66, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 62.36 is Neutral, neither overbought nor oversold. The STOCH value of 86.01 is Negative, 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$32.16B | 14.61 | 15.04% | 4.73% | -17.37% | 6.37% | |
66 Neutral | HK$3.36B | 5.33 | 10.80% | 6.87% | 1.69% | 15.41% | |
64 Neutral | HK$67.46B | 13.35 | 11.22% | 5.66% | -7.89% | 4.70% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$22.73B | 19.70 | 4.77% | 4.19% | -1.39% | -16.72% | |
60 Neutral | HK$18.92B | 11.68 | 7.89% | 7.10% | 7.83% | -5.65% | |
59 Neutral | HK$3.42B | 7.90 | 7.21% | 8.06% | -52.79% | -10.61% |
* Industrials Sector Average
HK:0177
Jiangsu Expressway Co
9.90
1.16
13.33%
HK:0995
Anhui Expressway Company
16.04
5.10
46.59%
HK:0107
Sichuan Expressway Co
4.79
0.45
10.45%
HK:0548
Shenzhen Expressway Co
6.70
-0.30
-4.31%
HK:1576
Qilu Expressway Co., Ltd. Class H
1.71
0.01
0.77%
HK:1785
Chengdu Expressway Co., Ltd. Class H
2.03
0.07
3.73%
Jiangsu Expressway Co Corporate Events
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...
Jiangsu Expressway Sets August Board Meeting to Approve Interim Results
Jul 27, 2026
Jiangsu Expressway Company Limited has scheduled a board meeting to be held in Nanjing on 27 August 2026. The directors will review and approve the interim results for the six months ended 30 June 2026 and attend to other related business matters,...
Jiangsu Expressway Sets 2025 Final Dividend and Clarifies Tax Terms for H-Share Investors
Jun 17, 2026
Jiangsu Expressway Company Limited has approved a final dividend of RMB 0.49 per H share for the financial year ended 31 December 2025, with shareholders endorsing the payout at the 2025 annual general meeting held on 15 June 2026. The total divid...
Jiangsu Expressway Sets 2025 Final Dividend and Details Tax Treatment for H-Shareholders
Jun 15, 2026
Jiangsu Expressway Company Limited has announced a final ordinary cash dividend of RMB 0.49 per share for the financial year ended 31 December 2025, approved by shareholders on 15 June 2026. For H-share investors in Hong Kong, the dividend will be...
Jiangsu Expressway Reshapes Board Committees in Unanimous Vote
Jun 15, 2026
Jiangsu Expressway Company Limited’s board convened its twenty-third meeting of the eleventh session on 15 June 2026 via on-site and video-audio link, with all 12 directors in attendance and meeting procedures confirmed as compliant with PRC...
Jiangsu Expressway Sets Board Lineup and Key Governance Committees
Jun 15, 2026
Jiangsu Expressway Company Limited has announced the composition of its Board of Directors, naming Wang Feng as chairman and detailing a mix of executive, non-executive, employees’ representative and independent non-executive directors. The ...
Jiangsu Expressway appoints new securities affairs representative as predecessor retires
Jun 15, 2026
Jiangsu Expressway Company Limited has announced a change in its securities affairs representative following a board meeting held on 15 June 2026, as the current representative, Tu Jun, approaches the statutory retirement age and will step down fr...
Jiangsu Expressway Confirms Strong Shareholder Turnout and Compliance at 2025 AGM
Jun 15, 2026
Jiangsu Expressway Company Limited reported that its 2025 annual general meeting was duly convened on 15 June 2026 at its Nanjing headquarters, with 389 shareholders or proxies in attendance representing 73.02% of the company’s voting share ...
Jiangsu Expressway Boosts Stake in Zijin Trust With RMB500 Million Injection
Jun 9, 2026
Jiangsu Expressway Company Limited has approved and executed a plan to increase its investment in Zijin Trust Co., Ltd. by contributing RMB500 million of self-owned funds, participating on a pro-rata basis alongside other existing shareholders. Th...
Jiangsu Expressway Sets 2025 AGM for June 2026 and Proposes RMB0.49 Dividend
May 29, 2026
Jiangsu Expressway Company Limited has issued a revised notice for its 2025 annual general meeting, which will be held on 15 June 2026 at the company’s conference room in Nanjing. Shareholders of A shares will be able to vote both on-site an...
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.