Announcement • Jun 27
Qilu Expressway Company Limited Approves Final Dividend for the Year Ended 31 December 2025, Payable on August 25, 2026 Qilu Expressway Company Limited held its 2025 Annual General Meeting on 26 June 2026. The Board announced that the payment of the 2025 Final Dividend for the year ended 31 December 2025 in an aggregate amount of RMB 240,000,000 (tax inclusive), that is, RMB 0.12 (tax inclusive) per Share, was approved at the 2025 AGM. The 2025 Final Dividend is expected to be paid on 25 August 2026 to the Shareholders whose names appear on the register of members of the Company after the closing of market on 8 July 2026. Such dividend will be denominated and declared in Renminbi, and paid to the Shareholders holding H Shares through H Share "Full Circulation" in Renminbi, and paid to the other Shareholders in Hong Kong dollars. The exchange rate for the dividend paid in Hong Kong dollars shall be the average middle rate for the five business days preceding the date of declaration of such dividend at the 2025 AGM as announced by the People's Bank of China, which was HKD 1 to RMB 0.869686. As such, the dividend for each H Share of the Company is HKD 0.137981 (tax inclusive). Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.12 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 25 August 2026. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 8.1%. Within top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (6.1%). Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.23 in FY 2024) Full year 2025 results: EPS: CN¥0.19 (down from CN¥0.23 in FY 2024). Revenue: CN¥2.37b (down 66% from FY 2024). Net income: CN¥382.9m (down 17% from FY 2024). Profit margin: 16% (up from 6.5% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 02
Dividend of CN¥0.12 announced Shareholders will receive a dividend of CN¥0.12. Ex-date: 2nd July 2026 Payment date: 31st August 2026 Dividend yield will be 6.9%, which is higher than the industry average of 6.5%. Sustainability & Growth The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 46% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.9% EPS decline seen over the last 5 years. Announcement • Apr 01
Qilu Expressway Company Limited, Annual General Meeting, Jun 26, 2026 Qilu Expressway Company Limited, Annual General Meeting, Jun 26, 2026. Announcement • Mar 19
Qilu Expressway Company Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 Qilu Expressway Company Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.1% operating cash flow to total debt). Earnings have declined by 10% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Paying a dividend despite having no free cash flows. Buy Or Sell Opportunity • Sep 05
Now 20% overvalued Over the last 90 days, the stock has fallen 8.9% to HK$1.85. The fair value is estimated to be HK$1.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has declined by 27%. Reported Earnings • Sep 01
First half 2025 earnings released: EPS: CN¥0.10 (vs CN¥0.12 in 1H 2024) First half 2025 results: EPS: CN¥0.10 (down from CN¥0.12 in 1H 2024). Revenue: CN¥1.07b (down 62% from 1H 2024). Net income: CN¥200.4m (down 19% from 1H 2024). Profit margin: 19% (up from 8.9% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Aug 18
Qilu Expressway Company Limited to Report First Half, 2025 Results on Aug 28, 2025 Qilu Expressway Company Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jul 25
Qilu Expressway Company Limited Provides Earnings Guidance for the Six Months Ended June 30, 2025 Qilu Expressway Company Limited provided earnings guidance for the six months ended June 30, 2025. for the period, the company expects Revenue of RMB 1,067,397,000, Profit and total comprehensive income of RMB 198,204,000. Announcement • Jun 26
Qilu Expressway Company Limited Approves Final Cash Dividend for the Year Ended 31 December 2024, Payable on 29 August 2025 Qilu Expressway Company Limited at its AGM held on June 26, 2025 approved the Profit Distribution and Dividend Distribution Plan of the Company for 2024. The Board announced that the payment of the 2024 Final Dividend for the year ended 31 December 2024 in an aggregate amount of RMB 200,000,000 (tax inclusive), that is, RMB 0.1 (tax inclusive) per Share, was approved at the 2024 AGM. The 2024 Final Dividend is expected to be paid on 29 August 2025 to the Shareholders whose names appear on the register of members of the Company after the closing of market on 8 July 2025. Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.10 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Hong Kong dividend payers (7.4%). In line with average of industry peers (5.5%). Announcement • Apr 09
Qilu Expressway Company Limited Announces Resignations of an Executive Director and Chairman of the Supervisory Committee, with Effect from 9 April 2025 The board of directors of Qilu Expressway Company Limited announced that due to work adjustments, Mr. Liu Qiang ("Mr. Liu") resigned as an executive Director and Mr. Wang Shenan ("Mr. Wang") resigned as the chairman of the supervisory committee of the Company (the "Supervisory Committee") and a supervisor of the Company, with effect from 9 April 2025. Declared Dividend • Mar 28
Dividend of CN¥0.01 announced Shareholders will receive a dividend of CN¥0.01. Ex-date: 2nd July 2025 Payment date: 29th August 2025 Dividend yield will be 0.4%, which is lower than the industry average of 6.5%. Sustainability & Growth Dividend is covered by earnings (63% 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 increased by an average of 2.4% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 30% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.0% EPS decline seen over the last 5 years. Announcement • Mar 27
Qilu Expressway Company Limited Announces General Manager Changes The board of directors of Qilu Expressway Company Limited hereby announced that due to attaining the statutory retirement age, Mr. Peng Hui (‘Mr. Peng’) resigned as an general manager of the Company, with effect from 26 March 2025. Mr. Peng has confirmed with the Company that he has no disagreement with the Board and there are no other matters in relation to his resignation from the above position that need to be brought to the attention of the shareholders of the Company (the ‘Shareholders’). Mr. Duan has been also appointed by the Board as the general manager of the Company, with a term commencing from 26 March 2025 until the expiration date of the term of the current session of the Board. Mr. Duan Peng, aged 49, is currently the general manager of the Company and a proposed executive Director. His appointment as an executive Director is subject to approval by the general meeting of the Company. Mr. Duan has extensive experience in corporate operations and management. He has held management positions in COSCO Bulk Carrier Co. Ltd. and Ocean Hotel Tianjin. From May 2014 to June 2022, Mr. Duan served as the deputy general manager of Tianjin Tianyong Expressway Co. Ltd. Since June 2022, he successively served as the deputy general manager of the industrial and trade business department and the deputy general manager of the operations management department in COSCO SHIPPING (Hong Kong) Co., Limited and COSCO SHIPPING International (Hong Kong) Co. Ltd. (a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. Mr. Duan obtained a bachelor 's degree in engineering from Tianjin University in July 1998, majoring in heating, ventilation, and air conditioning engineering, and obtained a master's degree in business administration from Tianjin University in June 2006. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.26 in FY 2023) Full year 2024 results: EPS: CN¥0.23 (down from CN¥0.26 in FY 2023). Revenue: CN¥7.02b (up 25% from FY 2023). Net income: CN¥484.6m (down 7.7% from FY 2023). Profit margin: 6.9% (down from 9.4% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • Mar 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). High level of non-cash earnings (39% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.0% net profit margin). Announcement • Mar 12
Qilu Expressway Company Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 Qilu Expressway Company Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Announcement • Jan 24
Qilu Expressway Company Limited Announces Resignation of Su Xiaodong as Non-Executive Director The board of directors of Qilu Expressway Company Limited announced that due to attaining the statutory retirement age, Mr. Su Xiaodong resigned as a non-executive Director with effect from 24 January 2025. Announcement • Dec 21
Qilu Expressway Company Limited Announces Resignation of Ma Xianghui as Non-Executive Director and A Member of the Strategy Committee of the Board Qilu Expressway Company Limited announced that due to work reallocation, Mr. Ma Xianghui (Mr. Ma) has resigned as a non-executive Director and a member of the Strategy Committee of the Board with effect from 20 December 2024. Buy Or Sell Opportunity • Oct 28
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to HK$2.30. The fair value is estimated to be HK$1.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Earnings per share has declined by 22%. Buy Or Sell Opportunity • Oct 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.9% to HK$2.32. The fair value is estimated to be HK$1.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Earnings per share has declined by 22%. Announcement • Aug 20
Qilu Expressway Company Limited to Report First Half, 2024 Results on Aug 30, 2024 Qilu Expressway Company Limited announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • Jun 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 45% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). High level of non-cash earnings (40% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (9.4% net profit margin). Shareholders have been diluted in the past year (45% increase in shares outstanding). Announcement • Jun 26
Qilu Expressway Company Limited Approves Final Dividend for the Year Ended 31 December 2023, Payable on 30 August 2024 Qilu Expressway Company Limited approves final dividend of RMB 0.15 per share for the Year Ended 31 December 2023 at its Annual General Meeting held on 26 June 2024. The final dividend is expected to be paid on 30 August 2024; Ex-dividend date: 02 July 2024; Record date: 09 July 2024. Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.15 per share Eligible shareholders must have bought the stock before 02 July 2024. Payment date: 30 August 2024. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 7.5%. Lower than top quartile of Hong Kong dividend payers (7.9%). Higher than average of industry peers (6.1%). Declared Dividend • Mar 29
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 2nd July 2024 Payment date: 30th August 2024 Dividend yield will be 7.5%, which is higher than the industry average of 6.5%. Sustainability & Growth Dividend is covered by earnings (53% 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 increased by an average of 6.8% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 2.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 29
Qilu Expressway Company Limited, Annual General Meeting, Jun 26, 2024 Qilu Expressway Company Limited, Annual General Meeting, Jun 26, 2024. Agenda: To consider Proposed Distribution of the 2023 Final Dividend. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.25 (vs CN¥0.39 in FY 2022) Full year 2023 results: EPS: CN¥0.25 (down from CN¥0.39 in FY 2022). Revenue: CN¥5.61b (up 91% from FY 2022). Net income: CN¥525.3m (down 33% from FY 2022). Profit margin: 9.4% (down from 27% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Announcement • Mar 28
Qilu Expressway Company Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 30 August 2024 Qilu Expressway Company Limited proposed final dividend of RMB 0.15 per share for the year ended 31 December 2023 payable on 30 August 2024. Record date is on 09 July 2024. Ex-dividend date is on 02 July 2024. Date of shareholders' approval is on 26 June 2024. Announcement • Mar 27
Qilu Expressway Company Limited Appoints Liu Yan as Deputy General Manager The board of directors of Qilu Expressway Company Limited announced that Ms. Liu Yan (‘Ms. Liu’) has been appointed as the deputy general manager of the Company with the term of office commencing from the date of this announcement and up to the expiry of the term of office of the third session of the Board. Ms. Liu Yan, aged 50, was a section member of the finance department and the head of the settlement section of COSCO Tianjin International Freight Co. Ltd. from July 1996 to April 2000; the manager of the finance department of Tianjin Tianyi Enterprises Co. Ltd. from April 2000 to October 2000; the head of the fund section, the deputy manager of the finance department and the head of the accounting section of COSCO Tianjin International Freight Co. Ltd. from October 2000 to April 2004; the domestic project manager of COSCO Shipping Ports Limited from April 2004 to March 2005; the chief accountant of Tianjin Tianyong Expressway Co. Ltd. and Tianjin Tian'ang Expressway Co. Ltd. from March 2005 to August 2008; and the chief accountant of Tianjin Tian'ang Expressway Co. Ltd. from August 2008 to March 2024. As at the date of this announcement, Ms. Liu has ceased to hold the above positions. Ms. Liu graduated from Tianjin University of Finance and Economics in July 1996 and obtained a bachelor's degree in economics (majoring in accounting), and obtained a master's degree in economics from Tianjin University of Finance and Economics in July 1999, majoring in international trade. Ms. Liu is a senior accountant. New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). High level of non-cash earnings (34% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (19% net profit margin). Announcement • Mar 15
Qilu Expressway Company Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 Qilu Expressway Company Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Announcement • Jan 06
Qilu Expressway Company Limited Announces Resignation of Xu Yuehong as Deputy General Manager The board (the "Board") of directors (the "Directors") of Qilu Expressway Company Limited (the "Company") hereby announces that Ms. Xu Yuehong ("Ms. Xu") resigned as the deputy general manager of the Company as she has reached the statutory age for retirement, with effect from 5 January 2024. Ms. Xu has confirmed with the Company that she has no disagreement with the Board, and there are not any other matters regarding her resignation from the above position that need to be brought to the attention of the shareholders of the Company. Reported Earnings • Sep 01
First half 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.20 in 1H 2022) First half 2023 results: EPS: CN¥0.15 (down from CN¥0.20 in 1H 2022). Revenue: CN¥1.66b (up 68% from 1H 2022). Net income: CN¥300.5m (down 26% from 1H 2022). Profit margin: 18% (down from 41% in 1H 2022). The decrease in margin was driven by higher expenses. 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 10% per year. New Risk • Aug 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). High level of non-cash earnings (34% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (19% net profit margin). Announcement • Aug 18
Qilu Expressway Company Limited to Report First Half, 2023 Results on Aug 29, 2023 Qilu Expressway Company Limited announced that they will report first half, 2023 results on Aug 29, 2023 Upcoming Dividend • Jun 23
Upcoming dividend of CN¥0.18 per share at 8.0% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (6.1%). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: CN¥0.39 (vs CN¥0.43 in FY 2021) Full year 2022 results: EPS: CN¥0.39 (down from CN¥0.43 in FY 2021). Revenue: CN¥2.93b (up 47% from FY 2021). Net income: CN¥781.7m (down 8.4% from FY 2021). Profit margin: 27% (down from 43% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: CN¥0 (vs CN¥0.20 in 1H 2021) First half 2022 results: EPS: CN¥0 (down from CN¥0.20 in 1H 2021). Revenue: CN¥988.2m (up 8.4% from 1H 2021). Net income: CN¥405.1m (flat on 1H 2021). Profit margin: 41% (down from 45% in 1H 2021). The decrease in margin was driven by higher expenses. Announcement • Aug 19
Qilu Expressway Company Limited to Report First Half, 2022 Results on Aug 30, 2022 Qilu Expressway Company Limited announced that they will report first half, 2022 results on Aug 30, 2022 Announcement • Jun 29
Qilu Expressway Company Limited Announces Final Ordinary Dividend for the Financial Year End 31 December 2021, Payable on August 31, 2022 Qilu Expressway Company Limited announces final ordinary dividend of RMB 0.18 per share for the financial year end 31 December 2021. Ex-dividend date 04 July 2022, Record date 11 July 2022 and Payment date 31 August 2022. Date of shareholders' approval is 28 June 2022. Upcoming Dividend • Jun 27
Upcoming dividend of CN¥0.18 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of Hong Kong dividend payers (7.9%). Higher than average of industry peers (7.3%). Reported Earnings • Apr 30
Full year 2021 earnings released: EPS: CN¥0.43 (vs CN¥0.31 in FY 2020) Full year 2021 results: EPS: CN¥0.43 (up from CN¥0.31 in FY 2020). Revenue: CN¥2.00b (up 18% from FY 2020). Net income: CN¥853.4m (up 38% from FY 2020). Profit margin: 43% (up from 37% 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 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Apr 22
Qilu Expressway Company Limited Announces Board Changes The board of directors of Qilu Expressway Company Limited announces that, Mr. Li Hua ("Mr. Li") has resigned from his position as an independent non-executive Director due to his personal physical conditions, and will cease to be the chairman of the Remuneration and Appraisal Committee of the Board and a member of each of the Audit Committee, the Nomination Committee, and the Strategy Committee. Such resignation shall take effect from the date on which the new independent non-executive Director to be appointed by the Company takes office. Until the new independent non-executive Director and the member of respective Board committees of the Company take office, Mr. Li shall continue to perform his duties and obligations as an independent non-executive Director, the chairman of the Remuneration and Appraisal Committee and the member of respective Board committees. Reported Earnings • Mar 31
Full year 2021 earnings released Full year 2021 results: Revenue: CN¥2.00b (up 18% from FY 2020). Net income: CN¥853.4m (up 38% from FY 2020). Profit margin: 43% (up from 37% in FY 2020). The increase in margin was driven by higher revenue. Announcement • Mar 31
Qilu Expressway Company Limited Proposes Final Dividend for the Year Ended 31 December 2021, Payable on 31 August 2022 Qilu Expressway Company Limited proposed the final dividend of RMB 0.18 per share for the year ended 31 December 2021. The dividend will be payable on 31 August 2022 with record date of 11 July 2022 and ex-dividend date is 04 July 2022. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 15% share price gain to HK$2.82, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 6x in the Infrastructure industry in Hong Kong. Total returns to shareholders of 126% over the past three years. Reported Earnings • Aug 30
First half 2021 earnings released: EPS CN¥0.20 (vs CN¥0.054 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥911.3m (up 87% from 1H 2020). Net income: CN¥407.9m (up 279% from 1H 2020). Profit margin: 45% (up from 22% in 1H 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 only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jul 20
Qilu Expressway Company Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2021 Qilu Expressway Company Limited provided unaudited consolidated earnings guidance for the six months ended June 30, 2021. For the six months, the Group is expected to record an increase of approximately 255% to 300% in the profit and total comprehensive income for the six months ended 30 June 2021 as compared to the restated profit and total comprehensive income for the six months ended 30 June 2020. Upcoming Dividend • Jun 21
Upcoming dividend of CN¥0.18 per share Eligible shareholders must have bought the stock before 28 June 2021. Payment date: 31 August 2021. Trailing yield: 9.5%. Within top quartile of Hong Kong dividend payers (6.1%). Higher than average of industry peers (6.0%). Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.31 (vs CN¥0.30 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥1.69b (up 3.5% from FY 2019). Net income: CN¥620.8m (up 4.2% from FY 2019). Profit margin: 37% (in line with FY 2019). Reported Earnings • Mar 28
Full year 2020 earnings released The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥1.69b (up 43% from FY 2019). Net income: CN¥620.8m (up 20% from FY 2019). Profit margin: 37% (down from 44% in FY 2019). The decrease in margin was driven by higher expenses. Announcement • Mar 17
Qilu Expressway Company Limited to Report Fiscal Year 2020 Results on Mar 26, 2021 Qilu Expressway Company Limited announced that they will report fiscal year 2020 results on Mar 26, 2021 Is New 90 Day High Low • Feb 05
New 90-day high: HK$2.01 The company is up 22% from its price of HK$1.65 on 06 November 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 10.0% over the same period. Executive Departure • Feb 05
Non-Executive Director has left the company On the 29th of January, Ruizheng Yuan's tenure as Non-Executive Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Ruizheng's name. Ruizheng is the only executive to leave the company over the last 12 months. Announcement • Jan 31
Qilu Expressway Company Limited Announces Resignation of Yuan Ruizheng as Non-Executive Director Qilu Expressway Company Limited announced that due to work reallocation, Mr. Yuan Ruizheng has resigned from his position as a non-executive Director of the Company with effect from 29 January 2021. Is New 90 Day High Low • Jan 18
New 90-day high: HK$1.80 The company is up 8.0% from its price of HK$1.66 on 20 October 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: HK$1.79 The company is up 7.0% from its price of HK$1.67 on 11 September 2020. The Hong Kong market is also up 7.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Infrastructure industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: HK$1.77 The company is up 4.0% from its price of HK$1.70 on 20 August 2020. The Hong Kong market is also up 4.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Infrastructure industry, which is up 5.0% over the same period. Announcement • Aug 11
Qilu Expressway Company Limited to Report First Half, 2020 Results on Aug 20, 2020 Qilu Expressway Company Limited announced that they will report first half, 2020 results on Aug 20, 2020 
