NOT FOR DISTRIBUTION
Header cover image

Henan Zhongyuan Expressway

Market Cap

CN¥7.4b

Last Updated

2021/04/11 09:15 UTC

Data Sources

Company Financials

Executive Summary

Henan Zhongyuan Expressway Company Limited engages in the investment, operation management, and maintenance of highways, independent bridges, and other transportation infrastructure projects. More Details


Snowflake Analysis

Overvalued not a dividend payer.

Share Price & News

How has Henan Zhongyuan Expressway's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 600020 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 600020's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

0.3%

600020

-0.4%

CN Infrastructure

-1.1%

CN Market


1 Year Return

-12.9%

600020

4.8%

CN Infrastructure

28.4%

CN Market

Return vs Industry: 600020 underperformed the CN Infrastructure industry which returned 4.8% over the past year.

Return vs Market: 600020 underperformed the CN Market which returned 28.4% over the past year.


Shareholder returns

600020IndustryMarket
7 Day0.3%-0.4%-1.1%
30 Day-0.3%0.6%1.0%
90 Day1.5%-3.8%-5.8%
1 Year-11.6%-12.9%7.7%4.8%30.4%28.4%
3 Year-22.7%-28.7%-12.1%-17.9%25.9%19.9%
5 Year-30.2%-38.9%-2.9%-13.2%23.6%15.5%

Long-Term Price Volatility Vs. Market

How volatile is Henan Zhongyuan Expressway's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Henan Zhongyuan Expressway undervalued compared to its fair value and its price relative to the market?

63.84x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 600020 (CN¥3.3) is trading above our estimate of fair value (CN¥2.11)

Significantly Below Fair Value: 600020 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 600020 is poor value based on its PE Ratio (63.8x) compared to the CN Infrastructure industry average (21.7x).

PE vs Market: 600020 is poor value based on its PE Ratio (63.8x) compared to the CN market (33.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 600020's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 600020 is good value based on its PB Ratio (0.6x) compared to the CN Infrastructure industry average (1x).


Future Growth

How is Henan Zhongyuan Expressway forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

31.3%

Forecasted Transportation industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Henan Zhongyuan Expressway has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Henan Zhongyuan Expressway performed over the past 5 years?

-15.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 600020 has a large one-off gain of CN¥133.6M impacting its September 30 2020 financial results.

Growing Profit Margin: 600020's current net profit margins (2.3%) are lower than last year (15.4%).


Past Earnings Growth Analysis

Earnings Trend: 600020's earnings have declined by 15.7% per year over the past 5 years.

Accelerating Growth: 600020's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 600020 had negative earnings growth (-87.3%) over the past year, making it difficult to compare to the Infrastructure industry average (-28.6%).


Return on Equity

High ROE: 600020's Return on Equity (2.2%) is considered low.


Financial Health

How is Henan Zhongyuan Expressway's financial position?


Financial Position Analysis

Short Term Liabilities: 600020's short term assets (CN¥5.4B) do not cover its short term liabilities (CN¥12.5B).

Long Term Liabilities: 600020's short term assets (CN¥5.4B) do not cover its long term liabilities (CN¥23.2B).


Debt to Equity History and Analysis

Debt Level: 600020's debt to equity ratio (258%) is considered high.

Reducing Debt: 600020's debt to equity ratio has increased from 226.7% to 258% over the past 5 years.

Debt Coverage: 600020's debt is not well covered by operating cash flow (7.3%).

Interest Coverage: 600020's interest payments on its debt are not well covered by EBIT (1.2x coverage).


Balance Sheet


Dividend

What is Henan Zhongyuan Expressway current dividend yield, its reliability and sustainability?

1.76%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 600020's dividend (1.76%) is higher than the bottom 25% of dividend payers in the CN market (0.43%).

High Dividend: 600020's dividend (1.76%) is low compared to the top 25% of dividend payers in the CN market (1.81%).


Stability and Growth of Payments

Stable Dividend: 600020's dividend payments have been volatile in the past 10 years.

Growing Dividend: 600020's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (112.2%), 600020's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.7yrs

Average management tenure


CEO

Ma Chenzhong (52 yo)

7.92yrs

Tenure

CN¥363,400

Compensation

Ma Chenzhong has been General Manager of Henan Zhongyuan Expressway Company Limited since May 2013 and serves as its Director.


Leadership Team

Experienced Management: 600020's management team is seasoned and experienced (8.7 years average tenure).


Board Members

Experienced Board: 600020's board of directors are seasoned and experienced ( 11.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Henan Zhongyuan Expressway Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Henan Zhongyuan Expressway Company Limited
  • Ticker: 600020
  • Exchange: SHSE
  • Founded: 2000
  • Industry: Highways and Railtracks
  • Sector: Transportation
  • Market Cap: CN¥7.416b
  • Shares outstanding: 2.25b
  • Website: https://www.zygs.com

Number of Employees


Location

  • Henan Zhongyuan Expressway Company Limited
  • No. 100, Agricultural South Road
  • Zhengzhou
  • Henan Province
  • 450000
  • China

Listings


Biography

Henan Zhongyuan Expressway Company Limited engages in the investment, operation management, and maintenance of highways, independent bridges, and other transportation infrastructure projects. The company o...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/11 09:15
End of Day Share Price2021/04/09 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.