Chengdu Expressway (1785) 주식 개요청두 고속도로 유한공사는 중국 본토에 위치한 고속도로의 개발, 운영 및 관리를 담당하고 있습니다. 자세히 보기1785 펀더멘털 분석스노우플레이크 점수가치 평가2/6미래 성장0/6과거 실적1/6재무 건전성6/6배당2/6강점주가수익률(5.5x)이 Hong Kong 시장(11.5x)보다 낮습니다.위험 분석지난 5년간 매년 수익이 2.8% 감소했습니다.7.06% 의 배당금은 잉여현금흐름으로 잘 충당되지 않습니다.모든 위험 점검 보기1785 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW481,164 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA481,164 investors already sharing narrativesYour Fair ValueHK$Current PriceHK$2.0132.2% 고평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture03b2016201920222025202620282031Revenue CN¥3.3bEarnings CN¥604.3mAdvancedSet Fair ValueView all narrativesChengdu Expressway Co., Ltd. 경쟁사Qilu ExpresswaySymbol: SEHK:1576Market cap: HK$3.3bShenzhen Investment Holdings Bay Area DevelopmentSymbol: SEHK:737Market cap: HK$5.8bYuexiu Transport InfrastructureSymbol: SEHK:1052Market cap: HK$5.8bShenzhen International HoldingsSymbol: SEHK:152Market cap: HK$12.6b가격 이력 및 성과Chengdu Expressway 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가HK$2.0152주 최고가HK$2.1952주 최저가HK$1.88베타0.0981개월 변동4.69%3개월 변동3.61%1년 변동-6.51%3년 변동6.91%5년 변동-11.45%IPO 이후 변동-7.80%최근 뉴스 및 업데이트공고 • Aug 12Chengdu Expressway Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026Chengdu Expressway Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026공고 • Jul 29Chengdu Expressway Co., Ltd. Announces Management Changes, Effective July 28, 2026Chengdu Expressway Co., Ltd. announced that Mr. Yang Tan tendered his written resignation to the Board on July 28, 2026 due to retirement to resign from the positions as an executive Director and the chairman of the Board of the Company with effect from July 28, 2026. After his resignation, Mr. Yang will no longer hold any position in the Company. Upon consideration and approval by the Board at its meeting held on July 28, 2026, Mr. Ding Dapan, an executive Director, has been elected as the chairman of the Board of the Company for a term commencing from the date of election and ending on the expiry date of the term of the second session of the Board (including the extended term of the second session of the Board due to postponed election of a new session of the Board).Upcoming Dividend • May 11Upcoming dividend of CN¥0.12 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 14 July 2026. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (5.3%).New Risk • Apr 22New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 366% The company is paying a dividend despite having no free cash flows. Dividend yield: 68% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 366% Paying a dividend despite having no free cash flows. Earnings have declined by 0.4% per year over the past 5 years.Declared Dividend • Apr 18Dividend of CN¥0.12 announcedShareholders will receive a dividend of CN¥0.12. Ex-date: 18th May 2026 Payment date: 14th July 2026 Dividend yield will be 5.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공고 • Apr 13Chengdu Expressway Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026Chengdu Expressway Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026더 많은 업데이트 보기Recent updates공고 • Aug 12Chengdu Expressway Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026Chengdu Expressway Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026공고 • Jul 29Chengdu Expressway Co., Ltd. Announces Management Changes, Effective July 28, 2026Chengdu Expressway Co., Ltd. announced that Mr. Yang Tan tendered his written resignation to the Board on July 28, 2026 due to retirement to resign from the positions as an executive Director and the chairman of the Board of the Company with effect from July 28, 2026. After his resignation, Mr. Yang will no longer hold any position in the Company. Upon consideration and approval by the Board at its meeting held on July 28, 2026, Mr. Ding Dapan, an executive Director, has been elected as the chairman of the Board of the Company for a term commencing from the date of election and ending on the expiry date of the term of the second session of the Board (including the extended term of the second session of the Board due to postponed election of a new session of the Board).Upcoming Dividend • May 11Upcoming dividend of CN¥0.12 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 14 July 2026. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (5.3%).New Risk • Apr 22New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 366% The company is paying a dividend despite having no free cash flows. Dividend yield: 68% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 366% Paying a dividend despite having no free cash flows. Earnings have declined by 0.4% per year over the past 5 years.Declared Dividend • Apr 18Dividend of CN¥0.12 announcedShareholders will receive a dividend of CN¥0.12. Ex-date: 18th May 2026 Payment date: 14th July 2026 Dividend yield will be 5.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공고 • Apr 13Chengdu Expressway Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026Chengdu Expressway Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026Reported Earnings • Mar 28Full year 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.31 in FY 2024)Full year 2025 results: EPS: CN¥0.33 (up from CN¥0.31 in FY 2024). Revenue: CN¥2.93b (flat on FY 2024). Net income: CN¥552.4m (up 6.3% from FY 2024). Profit margin: 19% (up from 18% in FY 2024). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year.공고 • Mar 27Chengdu Expressway Co., Ltd., Annual General Meeting, May 14, 2026Chengdu Expressway Co., Ltd., Annual General Meeting, May 14, 2026.공고 • Mar 05Chengdu Expressway Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026공고 • Dec 24Chengdu Expressway Co., Ltd. Announces Board Changes, Effective December 23, 2025Chengdu Expressway Co., Ltd. announced that the Supervisory Committee has been abolished and the audit and risk management committee of the Board will exercise the functions and powers conferred upon the Supervisory Committee under the Articles of Association, and the office of members who once served in the Supervisory Committee will be automatically removed. At present, the audit and risk management committee of the Board consists of three Directors, namely Mr. Leung Chi Hang Benson, Mr. Wang Peng and Ms. Wu Haiyan. The Board announced that at the employee representative meeting of the Company held on December 23, 2025, Mr. Pan Xin was elected as an employee Director (non-executive Director) for a term effective from December 23, 2025 which is the same as the term of the second session of the Board (including any extended period of the second session of the Board due to a delay in re-election). Mr. Pan Xin, aged 38, served as deputy general manager of the Company from May 2020 to July 2025, and deputy Party secretary and chairman of the labor union of the Company since July 2025. Mr. Pan successively served as director and supervisor of the investment and development department of Chengdu Communications Investment Group Co., Ltd., and head of the investment and development department of Chengdu Expressway Construction and Development Co., Ltd. (currently known as Chengdu Communications Investment Transportation Construction and Management Group Co., Ltd.) from July 2013 to May 2020. Mr. Pan also concurrently acts as a director of Chengdu Energy Development Co., Ltd. Mr. Pan graduated from the school of traffic transportation in Southwest Jiaotong University majoring in traffic transportation with a bachelor’s degree in June 2010, and obtained his master’s degree from the school of transportation and logistics in Southwest Jiaotong University majoring in transportation planning and management in June 2013. Mr. Pan was recognised as a logistician by China Federation of Logistics and Purchasing and the National Logistics Standardisation Technical Committee in 2011. He obtained the qualification of grade II constructor approved and granted by the Sichuan Provincial Department of Human Resources and Social Security and the Sichuan Provincial Department of Housing and Urban-Rural Development in June 2018, and the qualification of senior engineer granted by Chengdu Human Resources and Social Security Bureau in July 2025.Reported Earnings • Oct 30Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: CN¥778.2m (up 4.1% from 3Q 2024). Net income: CN¥204.5m (up 1.3% from 3Q 2024). Profit margin: 26% (in line with 3Q 2024).공고 • Oct 14Chengdu Expressway Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025Chengdu Expressway Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025Reported Earnings • Aug 28Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: CN¥748.5m (up 3.2% from 2Q 2024). Net income: CN¥110.5m (down 27% from 2Q 2024). Profit margin: 15% (down from 21% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.Buy Or Sell Opportunity • Aug 18Now 20% undervaluedOver the last 90 days, the stock has risen 1.4% to HK$2.12. The fair value is estimated to be HK$2.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years, while earnings per share has been flat.공고 • Aug 11Chengdu Expressway Co., Ltd. to Report Q2, 2025 Results on Aug 27, 2025Chengdu Expressway Co., Ltd. announced that they will report Q2, 2025 results on Aug 27, 2025Buy Or Sell Opportunity • Jul 04Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at HK$2.07. The fair value is estimated to be HK$2.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years, while earnings per share has been flat.Upcoming Dividend • May 12Upcoming dividend of CN¥0.10 per shareEligible shareholders must have bought the stock before 19 May 2025. Payment date: 15 July 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (6.1%).Reported Earnings • May 01First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: CN¥668.5m (down 2.4% from 1Q 2024). Net income: CN¥151.9m (up 8.9% from 1Q 2024). Profit margin: 23% (up from 20% in 1Q 2024). The increase in margin was driven by lower expenses.Declared Dividend • Apr 26Dividend of CN¥0.10 announcedShareholders will receive a dividend of CN¥0.10. Ex-date: 19th May 2025 Payment date: 15th July 2025 Dividend yield will be 4.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공고 • Apr 15Chengdu Expressway Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025Chengdu Expressway Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025공고 • Mar 27Chengdu Expressway Co., Ltd., Annual General Meeting, May 15, 2025Chengdu Expressway Co., Ltd., Annual General Meeting, May 15, 2025.Reported Earnings • Mar 27Full year 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.37 in FY 2023)Full year 2024 results: EPS: CN¥0.31 (down from CN¥0.37 in FY 2023). Revenue: CN¥2.92b (flat on FY 2023). Net income: CN¥519.5m (down 16% from FY 2023). Profit margin: 18% (down from 21% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year.공고 • Mar 10Chengdu Expressway Co., Ltd. to Report Fiscal Year 2024 Results on Mar 26, 2025Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 26, 2025Reported Earnings • Oct 30Third quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 3Q 2023)Third quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.12 in 3Q 2023). Revenue: CN¥747.8m (down 7.6% from 3Q 2023). Net income: CN¥201.9m (up 2.1% from 3Q 2023). Profit margin: 27% (up from 24% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year.분석 기사 • Oct 16Earnings Working Against Chengdu Expressway Co., Ltd.'s (HKG:1785) Share PriceChengdu Expressway Co., Ltd.'s ( HKG:1785 ) price-to-earnings (or "P/E") ratio of 6.1x might make it look like a buy...공고 • Oct 08Chengdu Expressway Co., Ltd. to Report Nine Months, 2024 Results on Oct 29, 2024Chengdu Expressway Co., Ltd. announced that they will report nine months, 2024 results on Oct 29, 2024Reported Earnings • Aug 28Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: CN¥725.5m (down 2.8% from 2Q 2023). Net income: CN¥151.8m (down 7.3% from 2Q 2023). Profit margin: 21% (down from 22% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.공고 • Aug 12Chengdu Expressway Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024Chengdu Expressway Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024Upcoming Dividend • May 23Upcoming dividend of CN¥0.17 per shareEligible shareholders must have bought the stock before 30 May 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (6.0%).분석 기사 • May 21There Could Be A Chance Chengdu Expressway Co., Ltd.'s (HKG:1785) CEO Will Have Their Compensation IncreasedKey Insights Chengdu Expressway will host its Annual General Meeting on 28th of May Total pay for CEO Tan Yang includes...Reported Earnings • Apr 30First quarter 2024 earnings released: EPS: CN¥0.084 (vs CN¥0.094 in 1Q 2023)First quarter 2024 results: EPS: CN¥0.084 (down from CN¥0.094 in 1Q 2023). Revenue: CN¥684.7m (up 5.1% from 1Q 2023). Net income: CN¥139.5m (down 10% from 1Q 2023). Profit margin: 20% (down from 24% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.공고 • Apr 12Chengdu Expressway Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024Chengdu Expressway Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024공고 • Mar 28Chengdu Expressway Co., Ltd., Annual General Meeting, May 28, 2024Chengdu Expressway Co., Ltd., Annual General Meeting, May 28, 2024.Reported Earnings • Mar 28Full year 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.31 in FY 2022)Full year 2023 results: EPS: CN¥0.37 (up from CN¥0.31 in FY 2022). Revenue: CN¥2.89b (up 12% from FY 2022). Net income: CN¥618.8m (up 22% from FY 2022). Profit margin: 21% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year.공고 • Mar 27Chengdu Expressway Co., Ltd. Proposes Distribution of Final Dividend for the Year Ended 31 December 2023 Payable on 26 July 2024Chengdu Expressway Co., Ltd. proposed distribution of final dividend of RMB 0.168 per share for the year ended 31 December 2023 payable on 26 July 2024. Date of shareholders' approval is on 28 May 2024. Record date is on 05 June 2024. Ex-dividend date is on 30 May 2024.공고 • Mar 05Chengdu Expressway Co., Ltd. to Report Fiscal Year 2023 Results on Mar 27, 2024Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2023 results on Mar 27, 2024Reported Earnings • Nov 02Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: CN¥809.7m (up 36% from 3Q 2022). Net income: CN¥197.6m (up 24% from 3Q 2022). Profit margin: 24% (down from 27% in 3Q 2022). The decrease in margin was driven by higher expenses.공고 • Oct 25Chengdu Expressway Co., Ltd. Announces Executive ChangesChengdu Expressway Co., Ltd. announced that Mr. Yang Bin ("Mr. Yang") tendered a written resignation to the Board on 24 October 2023 due to work rearrangement to resign from the positions as a non-executive Director and member of the audit and risk management committee of the Board (the "Audit and Risk Management Committee"), with effect from 24 October 2023. At the meeting of the Board held on 24 October 2023, the Board also resolved that Ms. Wu Haiyan be appointed as a member of the Audit and Risk Management Committee and appointment of Mr. Xia Wei as an executive director of the second session of the board of directors of the Company.공고 • Oct 20Chengdu Expressway Co., Ltd. to Report Nine Months, 2023 Results on Oct 31, 2023Chengdu Expressway Co., Ltd. announced that they will report nine months, 2023 results on Oct 31, 2023공고 • Oct 18Chengdu Expressway Co., Ltd. Announces Executive ChangesChengdu Expressway Co., Ltd. announced resignation of Mr. Chen Yong to the supervisory committee of the Company due to work rearrangement on 17 October 2023 to resign as an employee representative supervisor of the Company, with effect from 17 October 2023. Mr. Chen has confirmed that he has no disagreement with the board of directors of the Company and the Supervisory Committee, and there are no matters relating to the Resignation that need to be brought to the attention of the shareholders and creditors of the Company. The Supervisory Committee would like to express sincere gratitude to Mr. Chen for his contributions to the Company during his tenure. The company appointed Ms. Zheng Lifang as an employee representative supervisor of the second session of the Supervisory Committee, with effect from 17 October 2023 and for the same term of office as that of the second session of the Supervisory Committee (including the extended term of the second session of the Supervisory Committee due to postponed election of a new session of the Supervisory Committee) and is eligible for re-election upon expiry of her term. Ms. Zheng Lifang, whose former name was Zheng Qin, aged 32, has been the head of the finance management department of the Company since September 2023. Ms. Zheng successively served as the principal staff and senior principal staff of the finance management department of Chengdu Communications Investment Group Co., Ltd. from July 2018 to August 2023; and worked for Chongqing Real Estate Group Co., Ltd. from March 2017 to June 2018; and Huaneng (Shanghai) Power Maintenance Co., Ltd. from August 2014 to February 2017. Ms. Zheng graduated from Shanghai University of Finance and Economics in June 2014 with a bachelor's degree in accountin (certified public accountants), and from Sichuan University in December 2021 with a master's degree in business administration. Ms. Zheng obtained the qualification of certified public accountants granted by The Chinese Institute of Certified Public Accountants in May 2017. Ms. Zheng will enter into a service contract with the Company on the date of the employee congress. Ms. Zheng will receive remuneration based on her position within the Company as an employee, and will not receive remuneration in her capacity as an employee representative supervisor of the Company.Reported Earnings • Aug 30Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: CN¥746.3m (up 6.0% from 2Q 2022). Net income: CN¥163.8m (up 19% from 2Q 2022). Profit margin: 22% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue.공고 • Aug 10Chengdu Expressway Co., Ltd. to Report First Half, 2023 Results on Aug 25, 2023Chengdu Expressway Co., Ltd. announced that they will report first half, 2023 results on Aug 25, 2023공고 • Jul 29Chengdu Expressway Co., Ltd. Announces Executive ChangesThe board of directors of the Chengdu Expressway Co., Ltd. announced that Mr. Luo Dan ceased to serve as the chief accountant of the Company due to work rearrangement with effect from 27 July 2023. The Board is also pleased to announce that Mr. Xia Wei () ("Mr. Xia") has been appointed as the chief accountant of the Company with effect from 27 July 2023. Set out below are the biographical details of Mr. Xia: Mr. Xia Wei, born in June 1975, Chinese nationality and a bachelor's degree holder, is a senior accountant. Mr. Xia served as an assistant accountant of Chengdu Guoteng (Group) Co., Ltd. from July 1998 to March 2004, and clerk, principal staff, supervisor, senior supervisor and deputy director of the planning and finance department and deputy director of the finance department of Chengdu Communications Investment Group Co., Ltd. from June 2007 to June 2023. Mr. Xia Wei has been the chief accountant of the Company since July 2023.공고 • Jul 28Chengdu Expressway Co., Ltd. Announces Resignation of Luo Dan as Executive DirectorThe board of directors of Chengdu Expressway Co., Ltd. announced that Mr. Luo Dan tendered his written resignation to the Board on 27 July 2023 due to work rearrangement to resign from the positions as an executive Director and an authorised representative of the Company, with effect from 27 July 2023. The Board also announces that Mr. Yang Tan, an executive Director, has been appointed as an Authorised Representative with effect from 27 July 2023.공고 • Jun 08Chengdu Expressway Co., Ltd. Announces Appointment of Yang Tan as Chairman of the BoardChengdu Expressway Co., Ltd. dated 15 March 2023 in relation to, among other things, election of Mr. Yang Tan ("Mr. Yang") to act as the chairman of the board of directors and the legal representative of the Company. The board of directors of the Company announced that, upon consideration and approval by the Board at its meeting held on 7 June 2023, Mr. Yang has been elected as the chairman of the Board for a term commencing from the date of election and ending on the expiry date of the term of the second session of the Board.공고 • May 13Chengdu Expressway Co., Ltd. Approves Final Dividend for the Year Ended December 31, 2022, Payable on 11 July 2023Chengdu Expressway Co., Ltd. at its AGM, held on May 12, 2023, approved final dividend of RMB 0.178 per share for the year ended December 31, 2022. Ex-dividend date is 16 May 2023. Record date is 23 May 2023. Payment date is 11 July 2023.Upcoming Dividend • May 09Upcoming dividend of CN¥0.18 per share at 9.6% yieldEligible shareholders must have bought the stock before 16 May 2023. Payment date: 11 July 2023. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 9.6%. Within top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (5.6%).Reported Earnings • Mar 29Full year 2022 earnings releasedFull year 2022 results: Revenue: CN¥2.60b (down 3.9% from FY 2021). Net income: CN¥506.7m (down 18% from FY 2021). Profit margin: 20% (down from 23% in FY 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.공고 • Dec 01Chengdu Expressway Co., Ltd. (SEHK:1785) entered into a letter of intent to acquire 49% stake in Sichuan Chengming Expressway Co., Ltd from Chengdu Highway Construction and Development Co., Ltd.Chengdu Expressway Co., Ltd. (SEHK:1785) entered into a letter of intent to acquire 49% stake in Sichuan Chengming Expressway Co., Ltd from Chengdu Highway Construction and Development Co., Ltd on November 30, 2022.Board Change • Nov 16Less than half of directors are independentThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Benson Leung was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Reported Earnings • Nov 01Third quarter 2022 earnings released: EPS: CN¥0.096 (vs CN¥0.089 in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.096 (up from CN¥0.089 in 3Q 2021). Revenue: CN¥593.5m (down 13% from 3Q 2021). Net income: CN¥158.9m (up 8.1% from 3Q 2021). Profit margin: 27% (up from 22% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.공고 • Oct 19Chengdu Expressway Co., Ltd. to Report Q3, 2022 Results on Oct 31, 2022Chengdu Expressway Co., Ltd. announced that they will report Q3, 2022 results on Oct 31, 2022공고 • Oct 01Chengdu Expressway Co., Ltd. Announces Board Appointments and Change of Board Committee MembersChengdu Expressway Co., Ltd. at its extraordinary general meeting held on 30 September 2022, approved the following board appointments: Mr. Ding Dapan as an executive director of the second session of the board of directors of the Company; appointment of Mr. Leung Chi Hang Benson as an independent non-executive director of the second session of the board of directors of the Company; Mr. Wang Peng as an independent non-executive director of the second session of the board of directors of the Company; Mr. Qian Yongjiu as an independent non-executive director of the second session of the board of directors of the Company; and Mr. Zhang Chengyi as a shareholder representative supervisor of the second session of the supervisory committee of the Company. chairman of the Board, a non-executive Director and a member of the Nomination Committee of the Company; Mr. Luo Dan ceased to serve as a member of the remuneration and evaluation committee of the Board due to work arrangement and he will continue to serve as an executive Director of the Company. A meeting of the Board was held on 30 September 2022 and it was resolved that: Mr. Leung Chi Hang Benson and Mr. Wang Peng were appointed as members of the audit and risk management committee (the "Audit and Risk Management Committee") of the Board; Mr. Qian Yongjiu and Mr. Wang Peng were appointed as members of the Nomination Committee; Mr. Wang Peng, Mr. Qian Yongjiu and Ms. Wu Haiyan were appointed as members of the Remuneration and Evaluation Committee; and Mr. Qian Yongjiu and Mr. Leung Chi Hang Benson were appointed as members of the strategy and development committee of the Board. At the respective Board committee meetings held on 30 September 2022, Mr. Leung Chi Hang Benson was elected as chairman of the Audit and Risk Management Committee, Mr. Qian Yongjiu was elected as chairman of the Nomination Committee and Mr. Wang Peng was elected as chairman of the Remuneration and Evaluation Committee.공고 • Sep 10Chengdu Expressway Co., Ltd. Announces Executive ChangesChengdu Expressway Co., Ltd. announces that on 9 September 2022, (i) due to work changes, Ms. Wang Xiao ("Ms. Wang") tendered her resignation to the Board in writing, pursuant to which Ms. Wang resigned as an executive Director and a member of the strategy and development committee of the Board; (ii) due to retirement, Mr. Zhang Dongmin ("Mr. Zhang") tendered his resignation to the Board in writing, pursuant to which Mr. Zhang resigned as an executive Director; and (iii) as their tenures will soon reach six years, Mr. Shu Wa Tung, Laurence ("Mr. Shu"), Mr. Ye Yong ("Mr. Ye") and Mr. Li Yuanfu ("Mr. Li") tendered their resignations to the Board in writing, pursuant to which Mr. Shu resigned as an independent non-executive Director, the chairman of the audit and risk management committee of the Board and a member of the strategy and development committee of the Board, and Mr. Ye resigned as an independent non-executive Director, the chairman of the remuneration and evaluation committee of the Board, a member of the audit and risk management committee of the Board and a member of the nomination committee of the Board, and Mr. Li resigned as an independent non-executive Director, a member of the remuneration and evaluation committee of the Board and a member of the nomination committee of the Board. Such resignations shall take effect from the date of appointment of the successors at a general meeting of the Company.Reported Earnings • Aug 27Second quarter 2022 earnings released: EPS: CN¥176 (vs CN¥0.10 in 2Q 2021)Second quarter 2022 results: EPS: CN¥176 (up from CN¥0.10 in 2Q 2021). Revenue: CN¥1.37t (up CN¥1.37t from 2Q 2021). Net income: CN¥291.5b (up CN¥291.4b from 2Q 2021). Profit margin: 21% (in line with 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 133 percentage points per year, which is a significant difference in performance.공고 • Aug 11Chengdu Expressway Co., Ltd. to Report First Half, 2022 Results on Aug 25, 2022Chengdu Expressway Co., Ltd. announced that they will report first half, 2022 results on Aug 25, 2022공고 • May 14Chengdu Expressway Co., Ltd. Approves Final Ordinary Dividend, Payable on July 12, 2022Chengdu Expressway Co., Ltd. at its annual general meeting held on May 13, 2022 Approved final ordinary dividend for the year ended December 31, 2022 of CNY 0.141 per share to be paid on July 12, 2022 to the record holders as on May 24, 2022. Ex-dividend date is May 17, 2022. Date of shareholders' approval 13 May 2022.Upcoming Dividend • May 10Upcoming dividend of CN¥0.14 per shareEligible shareholders must have bought the stock before 17 May 2022. Payment date: 12 July 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (7.4%).Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Laurence Shu was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.공고 • Mar 06Chengdu Expressway Co., Ltd. Announces Change of Employee Representative SupervisorOn 3 March 2022, Mr. Zhang Jian a supervisor of Chengdu Expressway Co., Ltd. tendered his resignation to the supervisory committee of the Company due to work rearrangement, to resign from the position as an employee representative supervisor of the Company with effect from 3 March 2022. At the employee congress held by the Company on 3 March 2022, Mr. Chen Yong was elected as an employee representative supervisor of the second session of the Supervisory Committee commencing from 3 March 2022 with a term which is the same as that of employee representative supervisors of the second session of the Supervisory Committee, and is eligible for re-election upon expiration of his term. Pursuant to the articles of association of the Company, employee representative supervisors shall be democratically elected by the employees of the Company and shareholder approval is not required in this regard. Mr. Chen, aged 38, has served as the head of the Finance Department of the Company since February 2019. Mr. Chen worked for Tong Wei Co., Ltd. from September 2012 to September 2014, and for the First Engineering Branch of China MCC5 Group Corp. Ltd. from September 2015 to October 2015. He served as the director and senior head of the finance department (capital centre) of Chengdu Communications Investment Group Co., Ltd. from October 2015 to February 2019; director of Sichuan Chengming Expressway Co., Ltd. from December 2019 to May 2020; and director of Chengdu Expressway Zhenxing Development Co., Ltd. since February 2020.공고 • Feb 25Chengdu Expressway Co., Ltd. Provides Earnings Guidance for the Twelve Months Ended 31 December 2021Chengdu Expressway Co., Ltd. provided earnings guidance for the twelve months ended 31 December 2021. For the period, the company expects net profit attributable to the shareholders to be approximately RMB600 million to RMB630 million, representing an increase of approximately 75% to 85% as compared to the corresponding period in 2020 (as restated). Such increase is mainly because in the first half of 2020, due to the impact of the COVID-19 pandemic and the policy of the Ministry of Transport of the People's Republic of China to waive tolls for toll expressways nationwide during the period from 00:00 on 17 February 2020 to 00:00 on 6 May 2020, the Group's toll income declined significantly in 2020, and with the gradual control of the COVID-19 pandemic and resumption of toll collection on toll expressways since 6 May 2020, the toll income in 2021 increased significantly as compared to 2020.분석 기사 • Jan 03Does Chengdu Expressway (HKG:1785) Deserve A Spot On Your Watchlist?For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Reported Earnings • Sep 11Second quarter 2021 earnings releasedThe company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥778.5m (up 56% from 2Q 2020). Net income: CN¥165.4m (up 21% from 2Q 2020). Profit margin: 21% (down from 27% in 2Q 2020). The decrease in margin was driven by higher expenses.분석 기사 • Jun 13Chengdu Expressway (HKG:1785) Is Increasing Its Dividend To HK$0.15Chengdu Expressway Co., Ltd. ( HKG:1785 ) will increase its dividend on the 9th of August to HK$0.15. Based on the...Upcoming Dividend • Jun 09Upcoming dividend of CN¥0.12 per shareEligible shareholders must have bought the stock before 16 June 2021. Payment date: 09 August 2021. Trailing yield: 6.5%. Within top quartile of Hong Kong dividend payers (6.0%). In line with average of industry peers (6.0%).Reported Earnings • Jun 01First quarter 2021 earnings releasedThe company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥561.2m (up 131% from 1Q 2020). Net income: CN¥155.4m (up CN¥225.1m from 1Q 2020). Profit margin: 28% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue.분석 기사 • May 29Chengdu Expressway (HKG:1785) Takes On Some Risk With Its Use Of DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Apr 24Full year 2020 earnings released: EPS CN¥0.21 (vs CN¥0.30 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.01b (down 13% from FY 2019). Net income: CN¥344.5m (down 29% from FY 2019). Profit margin: 17% (down from 21% in FY 2019). The decrease in margin was driven by lower revenue.분석 기사 • Apr 17Chengdu Expressway's (HKG:1785) Returns On Capital Not Reflecting Well On The BusinessDid you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...Reported Earnings • Mar 27Full year 2020 earnings releasedThe company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥2.01b (up 60% from FY 2019). Net income: CN¥344.5m (down 22% from FY 2019). Profit margin: 17% (down from 35% in FY 2019). The decrease in margin was driven by higher expenses.공고 • Mar 13Chengdu Expressway Co., Ltd. to Report Fiscal Year 2020 Results on Mar 25, 2021Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2020 results on Mar 25, 2021분석 기사 • Feb 14How Does Chengdu Expressway Co., Ltd. (HKG:1785) Fare As A Dividend Stock?Could Chengdu Expressway Co., Ltd. ( HKG:1785 ) be an attractive dividend share to own for the long haul? Investors are...공고 • Feb 09Chengdu Expressway Co., Ltd. Announces Completion and Commencement of Operation of the the "Expressway-To-Expressway" Inter-Network Construction Project Between Chengguan Expressway and Chengdu Ring Expressway on 9 February 2021This announcement is made by the board of directors of Chengdu Expressway Co., Ltd. on a voluntary basis. Reference is made to the company's announcement dated 27 August 2019 in relation to the proposed implementation of the "expressway-to-expressway" inter-network construction project between Chengguan Expressway and Chengdu Ring Expressway. Unless the context requires otherwise, the capitalised terms used in this announcement shall have the same meanings as defined in the Announcement. The Board announced that, the Project will be completed and commence operation at 12:00 p.m. on 9 February 2021, which will mark the interconnection between Chengguan Expressway and Chengdu Ring Expressway. Such interconnection will effectively ease the traffic congestion on the sections connecting these two expressways and significantly improve their traffic conversion rate, thereby shortening the travel time, improving the experience of passing drivers and passengers, and in turn boosting the traffic flow on Chengguan Expressway.분석 기사 • Jan 18Should Weakness in Chengdu Expressway Co., Ltd.'s (HKG:1785) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?Chengdu Expressway (HKG:1785) has had a rough three months with its share price down 9.8%. However, stock prices are...분석 기사 • Dec 19We're Watching These Trends At Chengdu Expressway (HKG:1785)To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to...분석 기사 • Nov 28Should You Use Chengdu Expressway's (HKG:1785) Statutory Earnings To Analyse It?As a general rule, we think profitable companies are less risky than companies that lose money. However, sometimes...Is New 90 Day High Low • Nov 16New 90-day low: HK$1.91The company is down 8.0% from its price of HK$2.07 on 18 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 1.0% over the same period.Is New 90 Day High Low • Oct 07New 90-day high: HK$2.25The company is up 4.0% from its price of HK$2.16 on 09 July 2020. The Hong Kong market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 9.0% over the same period.공고 • Aug 08Chengdu Expressway Co., Ltd. to Report First Half, 2020 Results on Aug 27, 2020Chengdu Expressway Co., Ltd. announced that they will report first half, 2020 results on Aug 27, 2020주주 수익률1785HK InfrastructureHK 시장7D-0.5%-0.6%-0.9%1Y-6.5%-10.0%-4.5%전체 주주 수익률 보기수익률 대 산업: 1785은 지난 1년 동안 -10%의 수익을 기록한 Hong Kong Infrastructure 산업보다 더 좋은 성과를 냈습니다.수익률 대 시장: 1785은 지난 1년 동안 -4.5%를 기록한 Hong Kong 시장보다 저조한 성과를 냈습니다.주가 변동성Is 1785's price volatile compared to industry and market?1785 volatility1785 Average Weekly Movement2.2%Infrastructure Industry Average Movement4.0%Market Average Movement7.8%10% most volatile stocks in HK Market16.0%10% least volatile stocks in HK Market3.7%안정적인 주가: 1785는 지난 3개월 동안 Hong Kong 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: 1785의 주간 변동성(2%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트19982,339Xiao Wuwww.chengdugs.com청두 고속도로 유한회사는 중국 본토에 위치한 고속도로의 개발, 운영 및 관리에 종사하고 있습니다. 이 회사는 고속도로와 에너지의 두 가지 부문으로 운영됩니다. 청관 고속도로, 청펑 고속도로, 청웬치옹 고속도로, 치옹밍 고속도로, 청두 공항 고속도로를 운영하고 있습니다.더 보기Chengdu Expressway Co., Ltd. 기초 지표 요약Chengdu Expressway의 순이익과 매출은 시가총액과 어떻게 비교됩니까?1785 기초 통계시가총액HK$3.33b순이익 (TTM)HK$608.03m매출 (TTM)HK$3.36b5.5x주가수익비율(P/E)1.0x주가매출비율(P/S)1785는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표1785 손익계산서 (TTM)매출CN¥2.88b매출원가CN¥1.80b총이익CN¥1.08b기타 비용CN¥560.30m순이익CN¥522.72m최근 보고된 실적Mar 31, 2026다음 실적 발표일Aug 27, 2026주당순이익(EPS)0.32총이익률37.54%순이익률18.12%부채/자본 비율57.9%1785의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당7.1%현재 배당 수익률39%배당 성향View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/18 18:28종가2026/08/18 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Chengdu Expressway Co., Ltd.는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Kuen Long LeeCLSA
공고 • Aug 12Chengdu Expressway Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026Chengdu Expressway Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026
공고 • Jul 29Chengdu Expressway Co., Ltd. Announces Management Changes, Effective July 28, 2026Chengdu Expressway Co., Ltd. announced that Mr. Yang Tan tendered his written resignation to the Board on July 28, 2026 due to retirement to resign from the positions as an executive Director and the chairman of the Board of the Company with effect from July 28, 2026. After his resignation, Mr. Yang will no longer hold any position in the Company. Upon consideration and approval by the Board at its meeting held on July 28, 2026, Mr. Ding Dapan, an executive Director, has been elected as the chairman of the Board of the Company for a term commencing from the date of election and ending on the expiry date of the term of the second session of the Board (including the extended term of the second session of the Board due to postponed election of a new session of the Board).
Upcoming Dividend • May 11Upcoming dividend of CN¥0.12 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 14 July 2026. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (5.3%).
New Risk • Apr 22New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 366% The company is paying a dividend despite having no free cash flows. Dividend yield: 68% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 366% Paying a dividend despite having no free cash flows. Earnings have declined by 0.4% per year over the past 5 years.
Declared Dividend • Apr 18Dividend of CN¥0.12 announcedShareholders will receive a dividend of CN¥0.12. Ex-date: 18th May 2026 Payment date: 14th July 2026 Dividend yield will be 5.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공고 • Apr 13Chengdu Expressway Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026Chengdu Expressway Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026
공고 • Aug 12Chengdu Expressway Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026Chengdu Expressway Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026
공고 • Jul 29Chengdu Expressway Co., Ltd. Announces Management Changes, Effective July 28, 2026Chengdu Expressway Co., Ltd. announced that Mr. Yang Tan tendered his written resignation to the Board on July 28, 2026 due to retirement to resign from the positions as an executive Director and the chairman of the Board of the Company with effect from July 28, 2026. After his resignation, Mr. Yang will no longer hold any position in the Company. Upon consideration and approval by the Board at its meeting held on July 28, 2026, Mr. Ding Dapan, an executive Director, has been elected as the chairman of the Board of the Company for a term commencing from the date of election and ending on the expiry date of the term of the second session of the Board (including the extended term of the second session of the Board due to postponed election of a new session of the Board).
Upcoming Dividend • May 11Upcoming dividend of CN¥0.12 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 14 July 2026. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (5.3%).
New Risk • Apr 22New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 366% The company is paying a dividend despite having no free cash flows. Dividend yield: 68% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 366% Paying a dividend despite having no free cash flows. Earnings have declined by 0.4% per year over the past 5 years.
Declared Dividend • Apr 18Dividend of CN¥0.12 announcedShareholders will receive a dividend of CN¥0.12. Ex-date: 18th May 2026 Payment date: 14th July 2026 Dividend yield will be 5.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공고 • Apr 13Chengdu Expressway Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026Chengdu Expressway Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026
Reported Earnings • Mar 28Full year 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.31 in FY 2024)Full year 2025 results: EPS: CN¥0.33 (up from CN¥0.31 in FY 2024). Revenue: CN¥2.93b (flat on FY 2024). Net income: CN¥552.4m (up 6.3% from FY 2024). Profit margin: 19% (up from 18% in FY 2024). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year.
공고 • Mar 27Chengdu Expressway Co., Ltd., Annual General Meeting, May 14, 2026Chengdu Expressway Co., Ltd., Annual General Meeting, May 14, 2026.
공고 • Mar 05Chengdu Expressway Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026
공고 • Dec 24Chengdu Expressway Co., Ltd. Announces Board Changes, Effective December 23, 2025Chengdu Expressway Co., Ltd. announced that the Supervisory Committee has been abolished and the audit and risk management committee of the Board will exercise the functions and powers conferred upon the Supervisory Committee under the Articles of Association, and the office of members who once served in the Supervisory Committee will be automatically removed. At present, the audit and risk management committee of the Board consists of three Directors, namely Mr. Leung Chi Hang Benson, Mr. Wang Peng and Ms. Wu Haiyan. The Board announced that at the employee representative meeting of the Company held on December 23, 2025, Mr. Pan Xin was elected as an employee Director (non-executive Director) for a term effective from December 23, 2025 which is the same as the term of the second session of the Board (including any extended period of the second session of the Board due to a delay in re-election). Mr. Pan Xin, aged 38, served as deputy general manager of the Company from May 2020 to July 2025, and deputy Party secretary and chairman of the labor union of the Company since July 2025. Mr. Pan successively served as director and supervisor of the investment and development department of Chengdu Communications Investment Group Co., Ltd., and head of the investment and development department of Chengdu Expressway Construction and Development Co., Ltd. (currently known as Chengdu Communications Investment Transportation Construction and Management Group Co., Ltd.) from July 2013 to May 2020. Mr. Pan also concurrently acts as a director of Chengdu Energy Development Co., Ltd. Mr. Pan graduated from the school of traffic transportation in Southwest Jiaotong University majoring in traffic transportation with a bachelor’s degree in June 2010, and obtained his master’s degree from the school of transportation and logistics in Southwest Jiaotong University majoring in transportation planning and management in June 2013. Mr. Pan was recognised as a logistician by China Federation of Logistics and Purchasing and the National Logistics Standardisation Technical Committee in 2011. He obtained the qualification of grade II constructor approved and granted by the Sichuan Provincial Department of Human Resources and Social Security and the Sichuan Provincial Department of Housing and Urban-Rural Development in June 2018, and the qualification of senior engineer granted by Chengdu Human Resources and Social Security Bureau in July 2025.
Reported Earnings • Oct 30Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: CN¥778.2m (up 4.1% from 3Q 2024). Net income: CN¥204.5m (up 1.3% from 3Q 2024). Profit margin: 26% (in line with 3Q 2024).
공고 • Oct 14Chengdu Expressway Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025Chengdu Expressway Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025
Reported Earnings • Aug 28Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: CN¥748.5m (up 3.2% from 2Q 2024). Net income: CN¥110.5m (down 27% from 2Q 2024). Profit margin: 15% (down from 21% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.
Buy Or Sell Opportunity • Aug 18Now 20% undervaluedOver the last 90 days, the stock has risen 1.4% to HK$2.12. The fair value is estimated to be HK$2.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years, while earnings per share has been flat.
공고 • Aug 11Chengdu Expressway Co., Ltd. to Report Q2, 2025 Results on Aug 27, 2025Chengdu Expressway Co., Ltd. announced that they will report Q2, 2025 results on Aug 27, 2025
Buy Or Sell Opportunity • Jul 04Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at HK$2.07. The fair value is estimated to be HK$2.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years, while earnings per share has been flat.
Upcoming Dividend • May 12Upcoming dividend of CN¥0.10 per shareEligible shareholders must have bought the stock before 19 May 2025. Payment date: 15 July 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (6.1%).
Reported Earnings • May 01First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: CN¥668.5m (down 2.4% from 1Q 2024). Net income: CN¥151.9m (up 8.9% from 1Q 2024). Profit margin: 23% (up from 20% in 1Q 2024). The increase in margin was driven by lower expenses.
Declared Dividend • Apr 26Dividend of CN¥0.10 announcedShareholders will receive a dividend of CN¥0.10. Ex-date: 19th May 2025 Payment date: 15th July 2025 Dividend yield will be 4.9%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공고 • Apr 15Chengdu Expressway Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025Chengdu Expressway Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025
공고 • Mar 27Chengdu Expressway Co., Ltd., Annual General Meeting, May 15, 2025Chengdu Expressway Co., Ltd., Annual General Meeting, May 15, 2025.
Reported Earnings • Mar 27Full year 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.37 in FY 2023)Full year 2024 results: EPS: CN¥0.31 (down from CN¥0.37 in FY 2023). Revenue: CN¥2.92b (flat on FY 2023). Net income: CN¥519.5m (down 16% from FY 2023). Profit margin: 18% (down from 21% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year.
공고 • Mar 10Chengdu Expressway Co., Ltd. to Report Fiscal Year 2024 Results on Mar 26, 2025Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 26, 2025
Reported Earnings • Oct 30Third quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 3Q 2023)Third quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.12 in 3Q 2023). Revenue: CN¥747.8m (down 7.6% from 3Q 2023). Net income: CN¥201.9m (up 2.1% from 3Q 2023). Profit margin: 27% (up from 24% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year.
분석 기사 • Oct 16Earnings Working Against Chengdu Expressway Co., Ltd.'s (HKG:1785) Share PriceChengdu Expressway Co., Ltd.'s ( HKG:1785 ) price-to-earnings (or "P/E") ratio of 6.1x might make it look like a buy...
공고 • Oct 08Chengdu Expressway Co., Ltd. to Report Nine Months, 2024 Results on Oct 29, 2024Chengdu Expressway Co., Ltd. announced that they will report nine months, 2024 results on Oct 29, 2024
Reported Earnings • Aug 28Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: CN¥725.5m (down 2.8% from 2Q 2023). Net income: CN¥151.8m (down 7.3% from 2Q 2023). Profit margin: 21% (down from 22% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.
공고 • Aug 12Chengdu Expressway Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024Chengdu Expressway Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024
Upcoming Dividend • May 23Upcoming dividend of CN¥0.17 per shareEligible shareholders must have bought the stock before 30 May 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (6.0%).
분석 기사 • May 21There Could Be A Chance Chengdu Expressway Co., Ltd.'s (HKG:1785) CEO Will Have Their Compensation IncreasedKey Insights Chengdu Expressway will host its Annual General Meeting on 28th of May Total pay for CEO Tan Yang includes...
Reported Earnings • Apr 30First quarter 2024 earnings released: EPS: CN¥0.084 (vs CN¥0.094 in 1Q 2023)First quarter 2024 results: EPS: CN¥0.084 (down from CN¥0.094 in 1Q 2023). Revenue: CN¥684.7m (up 5.1% from 1Q 2023). Net income: CN¥139.5m (down 10% from 1Q 2023). Profit margin: 20% (down from 24% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.
공고 • Apr 12Chengdu Expressway Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024Chengdu Expressway Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024
공고 • Mar 28Chengdu Expressway Co., Ltd., Annual General Meeting, May 28, 2024Chengdu Expressway Co., Ltd., Annual General Meeting, May 28, 2024.
Reported Earnings • Mar 28Full year 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.31 in FY 2022)Full year 2023 results: EPS: CN¥0.37 (up from CN¥0.31 in FY 2022). Revenue: CN¥2.89b (up 12% from FY 2022). Net income: CN¥618.8m (up 22% from FY 2022). Profit margin: 21% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year.
공고 • Mar 27Chengdu Expressway Co., Ltd. Proposes Distribution of Final Dividend for the Year Ended 31 December 2023 Payable on 26 July 2024Chengdu Expressway Co., Ltd. proposed distribution of final dividend of RMB 0.168 per share for the year ended 31 December 2023 payable on 26 July 2024. Date of shareholders' approval is on 28 May 2024. Record date is on 05 June 2024. Ex-dividend date is on 30 May 2024.
공고 • Mar 05Chengdu Expressway Co., Ltd. to Report Fiscal Year 2023 Results on Mar 27, 2024Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2023 results on Mar 27, 2024
Reported Earnings • Nov 02Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: CN¥809.7m (up 36% from 3Q 2022). Net income: CN¥197.6m (up 24% from 3Q 2022). Profit margin: 24% (down from 27% in 3Q 2022). The decrease in margin was driven by higher expenses.
공고 • Oct 25Chengdu Expressway Co., Ltd. Announces Executive ChangesChengdu Expressway Co., Ltd. announced that Mr. Yang Bin ("Mr. Yang") tendered a written resignation to the Board on 24 October 2023 due to work rearrangement to resign from the positions as a non-executive Director and member of the audit and risk management committee of the Board (the "Audit and Risk Management Committee"), with effect from 24 October 2023. At the meeting of the Board held on 24 October 2023, the Board also resolved that Ms. Wu Haiyan be appointed as a member of the Audit and Risk Management Committee and appointment of Mr. Xia Wei as an executive director of the second session of the board of directors of the Company.
공고 • Oct 20Chengdu Expressway Co., Ltd. to Report Nine Months, 2023 Results on Oct 31, 2023Chengdu Expressway Co., Ltd. announced that they will report nine months, 2023 results on Oct 31, 2023
공고 • Oct 18Chengdu Expressway Co., Ltd. Announces Executive ChangesChengdu Expressway Co., Ltd. announced resignation of Mr. Chen Yong to the supervisory committee of the Company due to work rearrangement on 17 October 2023 to resign as an employee representative supervisor of the Company, with effect from 17 October 2023. Mr. Chen has confirmed that he has no disagreement with the board of directors of the Company and the Supervisory Committee, and there are no matters relating to the Resignation that need to be brought to the attention of the shareholders and creditors of the Company. The Supervisory Committee would like to express sincere gratitude to Mr. Chen for his contributions to the Company during his tenure. The company appointed Ms. Zheng Lifang as an employee representative supervisor of the second session of the Supervisory Committee, with effect from 17 October 2023 and for the same term of office as that of the second session of the Supervisory Committee (including the extended term of the second session of the Supervisory Committee due to postponed election of a new session of the Supervisory Committee) and is eligible for re-election upon expiry of her term. Ms. Zheng Lifang, whose former name was Zheng Qin, aged 32, has been the head of the finance management department of the Company since September 2023. Ms. Zheng successively served as the principal staff and senior principal staff of the finance management department of Chengdu Communications Investment Group Co., Ltd. from July 2018 to August 2023; and worked for Chongqing Real Estate Group Co., Ltd. from March 2017 to June 2018; and Huaneng (Shanghai) Power Maintenance Co., Ltd. from August 2014 to February 2017. Ms. Zheng graduated from Shanghai University of Finance and Economics in June 2014 with a bachelor's degree in accountin (certified public accountants), and from Sichuan University in December 2021 with a master's degree in business administration. Ms. Zheng obtained the qualification of certified public accountants granted by The Chinese Institute of Certified Public Accountants in May 2017. Ms. Zheng will enter into a service contract with the Company on the date of the employee congress. Ms. Zheng will receive remuneration based on her position within the Company as an employee, and will not receive remuneration in her capacity as an employee representative supervisor of the Company.
Reported Earnings • Aug 30Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: CN¥746.3m (up 6.0% from 2Q 2022). Net income: CN¥163.8m (up 19% from 2Q 2022). Profit margin: 22% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue.
공고 • Aug 10Chengdu Expressway Co., Ltd. to Report First Half, 2023 Results on Aug 25, 2023Chengdu Expressway Co., Ltd. announced that they will report first half, 2023 results on Aug 25, 2023
공고 • Jul 29Chengdu Expressway Co., Ltd. Announces Executive ChangesThe board of directors of the Chengdu Expressway Co., Ltd. announced that Mr. Luo Dan ceased to serve as the chief accountant of the Company due to work rearrangement with effect from 27 July 2023. The Board is also pleased to announce that Mr. Xia Wei () ("Mr. Xia") has been appointed as the chief accountant of the Company with effect from 27 July 2023. Set out below are the biographical details of Mr. Xia: Mr. Xia Wei, born in June 1975, Chinese nationality and a bachelor's degree holder, is a senior accountant. Mr. Xia served as an assistant accountant of Chengdu Guoteng (Group) Co., Ltd. from July 1998 to March 2004, and clerk, principal staff, supervisor, senior supervisor and deputy director of the planning and finance department and deputy director of the finance department of Chengdu Communications Investment Group Co., Ltd. from June 2007 to June 2023. Mr. Xia Wei has been the chief accountant of the Company since July 2023.
공고 • Jul 28Chengdu Expressway Co., Ltd. Announces Resignation of Luo Dan as Executive DirectorThe board of directors of Chengdu Expressway Co., Ltd. announced that Mr. Luo Dan tendered his written resignation to the Board on 27 July 2023 due to work rearrangement to resign from the positions as an executive Director and an authorised representative of the Company, with effect from 27 July 2023. The Board also announces that Mr. Yang Tan, an executive Director, has been appointed as an Authorised Representative with effect from 27 July 2023.
공고 • Jun 08Chengdu Expressway Co., Ltd. Announces Appointment of Yang Tan as Chairman of the BoardChengdu Expressway Co., Ltd. dated 15 March 2023 in relation to, among other things, election of Mr. Yang Tan ("Mr. Yang") to act as the chairman of the board of directors and the legal representative of the Company. The board of directors of the Company announced that, upon consideration and approval by the Board at its meeting held on 7 June 2023, Mr. Yang has been elected as the chairman of the Board for a term commencing from the date of election and ending on the expiry date of the term of the second session of the Board.
공고 • May 13Chengdu Expressway Co., Ltd. Approves Final Dividend for the Year Ended December 31, 2022, Payable on 11 July 2023Chengdu Expressway Co., Ltd. at its AGM, held on May 12, 2023, approved final dividend of RMB 0.178 per share for the year ended December 31, 2022. Ex-dividend date is 16 May 2023. Record date is 23 May 2023. Payment date is 11 July 2023.
Upcoming Dividend • May 09Upcoming dividend of CN¥0.18 per share at 9.6% yieldEligible shareholders must have bought the stock before 16 May 2023. Payment date: 11 July 2023. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 9.6%. Within top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (5.6%).
Reported Earnings • Mar 29Full year 2022 earnings releasedFull year 2022 results: Revenue: CN¥2.60b (down 3.9% from FY 2021). Net income: CN¥506.7m (down 18% from FY 2021). Profit margin: 20% (down from 23% in FY 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
공고 • Dec 01Chengdu Expressway Co., Ltd. (SEHK:1785) entered into a letter of intent to acquire 49% stake in Sichuan Chengming Expressway Co., Ltd from Chengdu Highway Construction and Development Co., Ltd.Chengdu Expressway Co., Ltd. (SEHK:1785) entered into a letter of intent to acquire 49% stake in Sichuan Chengming Expressway Co., Ltd from Chengdu Highway Construction and Development Co., Ltd on November 30, 2022.
Board Change • Nov 16Less than half of directors are independentThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Benson Leung was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Reported Earnings • Nov 01Third quarter 2022 earnings released: EPS: CN¥0.096 (vs CN¥0.089 in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.096 (up from CN¥0.089 in 3Q 2021). Revenue: CN¥593.5m (down 13% from 3Q 2021). Net income: CN¥158.9m (up 8.1% from 3Q 2021). Profit margin: 27% (up from 22% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
공고 • Oct 19Chengdu Expressway Co., Ltd. to Report Q3, 2022 Results on Oct 31, 2022Chengdu Expressway Co., Ltd. announced that they will report Q3, 2022 results on Oct 31, 2022
공고 • Oct 01Chengdu Expressway Co., Ltd. Announces Board Appointments and Change of Board Committee MembersChengdu Expressway Co., Ltd. at its extraordinary general meeting held on 30 September 2022, approved the following board appointments: Mr. Ding Dapan as an executive director of the second session of the board of directors of the Company; appointment of Mr. Leung Chi Hang Benson as an independent non-executive director of the second session of the board of directors of the Company; Mr. Wang Peng as an independent non-executive director of the second session of the board of directors of the Company; Mr. Qian Yongjiu as an independent non-executive director of the second session of the board of directors of the Company; and Mr. Zhang Chengyi as a shareholder representative supervisor of the second session of the supervisory committee of the Company. chairman of the Board, a non-executive Director and a member of the Nomination Committee of the Company; Mr. Luo Dan ceased to serve as a member of the remuneration and evaluation committee of the Board due to work arrangement and he will continue to serve as an executive Director of the Company. A meeting of the Board was held on 30 September 2022 and it was resolved that: Mr. Leung Chi Hang Benson and Mr. Wang Peng were appointed as members of the audit and risk management committee (the "Audit and Risk Management Committee") of the Board; Mr. Qian Yongjiu and Mr. Wang Peng were appointed as members of the Nomination Committee; Mr. Wang Peng, Mr. Qian Yongjiu and Ms. Wu Haiyan were appointed as members of the Remuneration and Evaluation Committee; and Mr. Qian Yongjiu and Mr. Leung Chi Hang Benson were appointed as members of the strategy and development committee of the Board. At the respective Board committee meetings held on 30 September 2022, Mr. Leung Chi Hang Benson was elected as chairman of the Audit and Risk Management Committee, Mr. Qian Yongjiu was elected as chairman of the Nomination Committee and Mr. Wang Peng was elected as chairman of the Remuneration and Evaluation Committee.
공고 • Sep 10Chengdu Expressway Co., Ltd. Announces Executive ChangesChengdu Expressway Co., Ltd. announces that on 9 September 2022, (i) due to work changes, Ms. Wang Xiao ("Ms. Wang") tendered her resignation to the Board in writing, pursuant to which Ms. Wang resigned as an executive Director and a member of the strategy and development committee of the Board; (ii) due to retirement, Mr. Zhang Dongmin ("Mr. Zhang") tendered his resignation to the Board in writing, pursuant to which Mr. Zhang resigned as an executive Director; and (iii) as their tenures will soon reach six years, Mr. Shu Wa Tung, Laurence ("Mr. Shu"), Mr. Ye Yong ("Mr. Ye") and Mr. Li Yuanfu ("Mr. Li") tendered their resignations to the Board in writing, pursuant to which Mr. Shu resigned as an independent non-executive Director, the chairman of the audit and risk management committee of the Board and a member of the strategy and development committee of the Board, and Mr. Ye resigned as an independent non-executive Director, the chairman of the remuneration and evaluation committee of the Board, a member of the audit and risk management committee of the Board and a member of the nomination committee of the Board, and Mr. Li resigned as an independent non-executive Director, a member of the remuneration and evaluation committee of the Board and a member of the nomination committee of the Board. Such resignations shall take effect from the date of appointment of the successors at a general meeting of the Company.
Reported Earnings • Aug 27Second quarter 2022 earnings released: EPS: CN¥176 (vs CN¥0.10 in 2Q 2021)Second quarter 2022 results: EPS: CN¥176 (up from CN¥0.10 in 2Q 2021). Revenue: CN¥1.37t (up CN¥1.37t from 2Q 2021). Net income: CN¥291.5b (up CN¥291.4b from 2Q 2021). Profit margin: 21% (in line with 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 133 percentage points per year, which is a significant difference in performance.
공고 • Aug 11Chengdu Expressway Co., Ltd. to Report First Half, 2022 Results on Aug 25, 2022Chengdu Expressway Co., Ltd. announced that they will report first half, 2022 results on Aug 25, 2022
공고 • May 14Chengdu Expressway Co., Ltd. Approves Final Ordinary Dividend, Payable on July 12, 2022Chengdu Expressway Co., Ltd. at its annual general meeting held on May 13, 2022 Approved final ordinary dividend for the year ended December 31, 2022 of CNY 0.141 per share to be paid on July 12, 2022 to the record holders as on May 24, 2022. Ex-dividend date is May 17, 2022. Date of shareholders' approval 13 May 2022.
Upcoming Dividend • May 10Upcoming dividend of CN¥0.14 per shareEligible shareholders must have bought the stock before 17 May 2022. Payment date: 12 July 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (7.4%).
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Laurence Shu was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
공고 • Mar 06Chengdu Expressway Co., Ltd. Announces Change of Employee Representative SupervisorOn 3 March 2022, Mr. Zhang Jian a supervisor of Chengdu Expressway Co., Ltd. tendered his resignation to the supervisory committee of the Company due to work rearrangement, to resign from the position as an employee representative supervisor of the Company with effect from 3 March 2022. At the employee congress held by the Company on 3 March 2022, Mr. Chen Yong was elected as an employee representative supervisor of the second session of the Supervisory Committee commencing from 3 March 2022 with a term which is the same as that of employee representative supervisors of the second session of the Supervisory Committee, and is eligible for re-election upon expiration of his term. Pursuant to the articles of association of the Company, employee representative supervisors shall be democratically elected by the employees of the Company and shareholder approval is not required in this regard. Mr. Chen, aged 38, has served as the head of the Finance Department of the Company since February 2019. Mr. Chen worked for Tong Wei Co., Ltd. from September 2012 to September 2014, and for the First Engineering Branch of China MCC5 Group Corp. Ltd. from September 2015 to October 2015. He served as the director and senior head of the finance department (capital centre) of Chengdu Communications Investment Group Co., Ltd. from October 2015 to February 2019; director of Sichuan Chengming Expressway Co., Ltd. from December 2019 to May 2020; and director of Chengdu Expressway Zhenxing Development Co., Ltd. since February 2020.
공고 • Feb 25Chengdu Expressway Co., Ltd. Provides Earnings Guidance for the Twelve Months Ended 31 December 2021Chengdu Expressway Co., Ltd. provided earnings guidance for the twelve months ended 31 December 2021. For the period, the company expects net profit attributable to the shareholders to be approximately RMB600 million to RMB630 million, representing an increase of approximately 75% to 85% as compared to the corresponding period in 2020 (as restated). Such increase is mainly because in the first half of 2020, due to the impact of the COVID-19 pandemic and the policy of the Ministry of Transport of the People's Republic of China to waive tolls for toll expressways nationwide during the period from 00:00 on 17 February 2020 to 00:00 on 6 May 2020, the Group's toll income declined significantly in 2020, and with the gradual control of the COVID-19 pandemic and resumption of toll collection on toll expressways since 6 May 2020, the toll income in 2021 increased significantly as compared to 2020.
분석 기사 • Jan 03Does Chengdu Expressway (HKG:1785) Deserve A Spot On Your Watchlist?For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Reported Earnings • Sep 11Second quarter 2021 earnings releasedThe company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥778.5m (up 56% from 2Q 2020). Net income: CN¥165.4m (up 21% from 2Q 2020). Profit margin: 21% (down from 27% in 2Q 2020). The decrease in margin was driven by higher expenses.
분석 기사 • Jun 13Chengdu Expressway (HKG:1785) Is Increasing Its Dividend To HK$0.15Chengdu Expressway Co., Ltd. ( HKG:1785 ) will increase its dividend on the 9th of August to HK$0.15. Based on the...
Upcoming Dividend • Jun 09Upcoming dividend of CN¥0.12 per shareEligible shareholders must have bought the stock before 16 June 2021. Payment date: 09 August 2021. Trailing yield: 6.5%. Within top quartile of Hong Kong dividend payers (6.0%). In line with average of industry peers (6.0%).
Reported Earnings • Jun 01First quarter 2021 earnings releasedThe company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥561.2m (up 131% from 1Q 2020). Net income: CN¥155.4m (up CN¥225.1m from 1Q 2020). Profit margin: 28% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue.
분석 기사 • May 29Chengdu Expressway (HKG:1785) Takes On Some Risk With Its Use Of DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Apr 24Full year 2020 earnings released: EPS CN¥0.21 (vs CN¥0.30 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.01b (down 13% from FY 2019). Net income: CN¥344.5m (down 29% from FY 2019). Profit margin: 17% (down from 21% in FY 2019). The decrease in margin was driven by lower revenue.
분석 기사 • Apr 17Chengdu Expressway's (HKG:1785) Returns On Capital Not Reflecting Well On The BusinessDid you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...
Reported Earnings • Mar 27Full year 2020 earnings releasedThe company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥2.01b (up 60% from FY 2019). Net income: CN¥344.5m (down 22% from FY 2019). Profit margin: 17% (down from 35% in FY 2019). The decrease in margin was driven by higher expenses.
공고 • Mar 13Chengdu Expressway Co., Ltd. to Report Fiscal Year 2020 Results on Mar 25, 2021Chengdu Expressway Co., Ltd. announced that they will report fiscal year 2020 results on Mar 25, 2021
분석 기사 • Feb 14How Does Chengdu Expressway Co., Ltd. (HKG:1785) Fare As A Dividend Stock?Could Chengdu Expressway Co., Ltd. ( HKG:1785 ) be an attractive dividend share to own for the long haul? Investors are...
공고 • Feb 09Chengdu Expressway Co., Ltd. Announces Completion and Commencement of Operation of the the "Expressway-To-Expressway" Inter-Network Construction Project Between Chengguan Expressway and Chengdu Ring Expressway on 9 February 2021This announcement is made by the board of directors of Chengdu Expressway Co., Ltd. on a voluntary basis. Reference is made to the company's announcement dated 27 August 2019 in relation to the proposed implementation of the "expressway-to-expressway" inter-network construction project between Chengguan Expressway and Chengdu Ring Expressway. Unless the context requires otherwise, the capitalised terms used in this announcement shall have the same meanings as defined in the Announcement. The Board announced that, the Project will be completed and commence operation at 12:00 p.m. on 9 February 2021, which will mark the interconnection between Chengguan Expressway and Chengdu Ring Expressway. Such interconnection will effectively ease the traffic congestion on the sections connecting these two expressways and significantly improve their traffic conversion rate, thereby shortening the travel time, improving the experience of passing drivers and passengers, and in turn boosting the traffic flow on Chengguan Expressway.
분석 기사 • Jan 18Should Weakness in Chengdu Expressway Co., Ltd.'s (HKG:1785) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?Chengdu Expressway (HKG:1785) has had a rough three months with its share price down 9.8%. However, stock prices are...
분석 기사 • Dec 19We're Watching These Trends At Chengdu Expressway (HKG:1785)To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to...
분석 기사 • Nov 28Should You Use Chengdu Expressway's (HKG:1785) Statutory Earnings To Analyse It?As a general rule, we think profitable companies are less risky than companies that lose money. However, sometimes...
Is New 90 Day High Low • Nov 16New 90-day low: HK$1.91The company is down 8.0% from its price of HK$2.07 on 18 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 1.0% over the same period.
Is New 90 Day High Low • Oct 07New 90-day high: HK$2.25The company is up 4.0% from its price of HK$2.16 on 09 July 2020. The Hong Kong market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 9.0% over the same period.
공고 • Aug 08Chengdu Expressway Co., Ltd. to Report First Half, 2020 Results on Aug 27, 2020Chengdu Expressway Co., Ltd. announced that they will report first half, 2020 results on Aug 27, 2020
