Announcement • Jun 30
Jilin Expressway Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026 Jilin Expressway Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026 New Risk • Apr 15
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Cash payout ratio: 307% Dividend yield: 47% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 11
Full year 2025 earnings released: EPS: CN¥0.26 (vs CN¥0.29 in FY 2024) Full year 2025 results: EPS: CN¥0.26 (down from CN¥0.29 in FY 2024). Revenue: CN¥1.37b (down 7.8% from FY 2024). Net income: CN¥490.8m (down 8.9% from FY 2024). Profit margin: 36% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Announcement • Apr 10
Jilin Expressway Co., Ltd., Annual General Meeting, May 08, 2026 Jilin Expressway Co., Ltd., Annual General Meeting, May 08, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Changchun, Jilin China Announcement • Mar 30
Jilin Expressway Co., Ltd. to Report Q1, 2026 Results on Apr 27, 2026 Jilin Expressway Co., Ltd. announced that they will report Q1, 2026 results on Apr 27, 2026 Announcement • Dec 26
Jilin Expressway Co., Ltd. to Report Fiscal Year 2025 Results on Apr 11, 2026 Jilin Expressway Co., Ltd. announced that they will report fiscal year 2025 results on Apr 11, 2026 Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: CN¥0.091 (vs CN¥0.08 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.091 (up from CN¥0.08 in 3Q 2024). Revenue: CN¥356.8m (up 8.2% from 3Q 2024). Net income: CN¥167.7m (up 15% from 3Q 2024). Profit margin: 47% (up from 44% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Announcement • Sep 30
Jilin Expressway Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Jilin Expressway Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jun 30
Jilin Expressway Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Jilin Expressway Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • Jun 30
Dividend reduced to CN¥0.086 Dividend of CN¥0.086 is 4.4% lower than last year. Ex-date: 3rd July 2025 Payment date: 3rd July 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 40% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: CN¥0.29 (vs CN¥0.29 in FY 2023) Full year 2024 results: EPS: CN¥0.29 (in line with FY 2023). Revenue: CN¥1.48b (up 2.6% from FY 2023). Net income: CN¥538.8m (down 1.4% from FY 2023). Profit margin: 36% (down from 38% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 11
Jilin Expressway Co., Ltd., Annual General Meeting, May 07, 2025 Jilin Expressway Co., Ltd., Annual General Meeting, May 07, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Changchun, Jilin China Announcement • Mar 28
Jilin Expressway Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Jilin Expressway Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 27
Jilin Expressway Co., Ltd. to Report Fiscal Year 2024 Results on Apr 11, 2025 Jilin Expressway Co., Ltd. announced that they will report fiscal year 2024 results on Apr 11, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.08 (vs CN¥0.093 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.08 (down from CN¥0.093 in 3Q 2023). Revenue: CN¥329.6m (down 8.9% from 3Q 2023). Net income: CN¥145.6m (down 8.6% from 3Q 2023). Profit margin: 44% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year. Announcement • Sep 30
Jilin Expressway Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Jilin Expressway Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥2.74, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 15x in the Infrastructure industry in China. Total returns to shareholders of 54% over the past three years. Announcement • Jun 28
Jilin Expressway Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Jilin Expressway Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.064 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.064 in 1Q 2023). Revenue: CN¥265.6m (down 5.8% from 1Q 2023). Net income: CN¥119.7m (down 1.4% from 1Q 2023). Profit margin: 45% (up from 43% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 16
Full year 2023 earnings released: EPS: CN¥0.29 (vs CN¥0.21 in FY 2022) Full year 2023 results: EPS: CN¥0.29 (up from CN¥0.21 in FY 2022). Revenue: CN¥1.45b (flat on FY 2022). Net income: CN¥546.5m (up 39% from FY 2022). Profit margin: 38% (up from 27% in FY 2022). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Apr 13
Jilin Expressway Co., Ltd., Annual General Meeting, May 10, 2024 Jilin Expressway Co., Ltd., Annual General Meeting, May 10, 2024, at 14:00 China Standard Time. Announcement • Mar 29
Jilin Expressway Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Jilin Expressway Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥2.31, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 15x in the Infrastructure industry in China. Total returns to shareholders of 62% over the past three years. Announcement • Dec 30
Jilin Expressway Co., Ltd. to Report Fiscal Year 2023 Results on Apr 13, 2024 Jilin Expressway Co., Ltd. announced that they will report fiscal year 2023 results on Apr 13, 2024 Board Change • Nov 08
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Guo Yi Zhan was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.093 (vs CN¥0.08 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.093 (up from CN¥0.08 in 3Q 2022). Revenue: CN¥361.6m (up 3.4% from 3Q 2022). Net income: CN¥159.3m (up 12% from 3Q 2022). Profit margin: 44% (up from 41% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Jilin Expressway Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Jilin Expressway Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥3.00, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 20x in the Infrastructure industry in China. Total returns to shareholders of 76% over the past three years. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: CN¥0.056 (vs CN¥0.05 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.056 (up from CN¥0.05 in 2Q 2022). Revenue: CN¥294.4m (up 15% from 2Q 2022). Net income: CN¥111.1m (up 22% from 2Q 2022). Profit margin: 38% (up from 36% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥3.33, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 18x in the Infrastructure industry in China. Total returns to shareholders of 41% over the past three years. Reported Earnings • Apr 15
Full year 2022 earnings released: EPS: CN¥0.29 (vs CN¥0.24 in FY 2021) Full year 2022 results: EPS: CN¥0.29 (up from CN¥0.24 in FY 2021). Revenue: CN¥1.46b (up 15% from FY 2021). Net income: CN¥393.6m (up 24% from FY 2021). Profit margin: 27% (up from 25% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Guo Yi Zhan was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.07 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.07 in 3Q 2021). Revenue: CN¥349.7m (up 15% from 3Q 2021). Net income: CN¥142.6m (up 57% from 3Q 2021). Profit margin: 41% (up from 30% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.07 (vs CN¥0.081 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.07 (down from CN¥0.081 in 2Q 2021). Revenue: CN¥255.9m (down 14% from 2Q 2021). Net income: CN¥90.8m (down 13% from 2Q 2021). Profit margin: 36% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥3.18, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 14x in the Infrastructure industry in China. Total returns to shareholders of 12% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.06 (vs CN¥0.05 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.06 (up from CN¥0.05 in 1Q 2021). Revenue: CN¥225.0m (up 8.7% from 1Q 2021). Net income: CN¥84.9m (up 24% from 1Q 2021). Profit margin: 38% (up from 33% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 17
Full year 2021 earnings released: EPS: CN¥0.24 (vs CN¥0.07 in FY 2020) Full year 2021 results: EPS: CN¥0.24 (up from CN¥0.07 in FY 2020). Revenue: CN¥1.27b (up 50% from FY 2020). Net income: CN¥318.4m (up 221% from FY 2020). Profit margin: 25% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥0.24 (up from CN¥0.07 in FY 2020). Revenue: CN¥1.27b (up 50% from FY 2020). Net income: CN¥318.9m (up 221% from FY 2020). Profit margin: 25% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.07 (vs CN¥0.06 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥304.8m (up 20% from 3Q 2020). Net income: CN¥90.9m (up 4.8% from 3Q 2020). Profit margin: 30% (down from 34% in 3Q 2020). 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 fallen by 3% per year. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.081 (vs CN¥0.019 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥297.0m (up 176% from 2Q 2020). Net income: CN¥104.8m (up CN¥128.9m from 2Q 2020). Profit margin: 35% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.07 (vs CN¥0.14 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥850.4m (up 8.9% from FY 2019). Net income: CN¥99.2m (down 48% from FY 2019). Profit margin: 12% (down from 24% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 28
New 90-day low: CN¥2.13 The company is down 7.0% from its price of CN¥2.29 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥2.22 The company is down 7.0% from its price of CN¥2.38 on 13 October 2020. The Chinese market is up 5.0% 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 • Dec 24
New 90-day low: CN¥2.27 The company is down 3.0% from its price of CN¥2.35 on 25 September 2020. The Chinese market is up 5.0% 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. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥64.1m, down 63% from the prior year. Total revenue was CN¥655.0m over the last 12 months, down 16% from the prior year. Is New 90 Day High Low • Oct 27
New 90-day low: CN¥2.31 The company is down 6.0% from its price of CN¥2.45 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 01
New 90-day low: CN¥2.34 The company is down 1.0% from its price of CN¥2.37 on 03 July 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is down 2.0% over the same period. Announcement • Jul 10
Jilin Expressway Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Jilin Expressway Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020