Market Closed -
Hong Kong S.E.
04:08:10 2024-05-21 am EDT
|
5-day change
|
1st Jan Change
|
8.29
HKD
|
-2.47%
|
|
-2.24%
|
+18.09%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
54,464
|
44,044
|
40,853
|
39,011
|
46,960
|
54,080
|
-
|
-
|
Enterprise Value (EV)
1 |
68,427
|
59,766
|
60,918
|
68,354
|
77,566
|
87,365
|
87,762
|
83,521
|
P/E ratio
|
11.4
x
|
14.9
x
|
7.77
x
|
8.52
x
|
7.28
x
|
7.95
x
|
7.7
x
|
7.3
x
|
Yield
|
4.82%
|
6.3%
|
7.07%
|
7.3%
|
7.37%
|
5.96%
|
5.96%
|
6.02%
|
Capitalization / Revenue
|
5.4
x
|
5.48
x
|
2.96
x
|
2.94
x
|
3.09
x
|
3.31
x
|
3.23
x
|
2.99
x
|
EV / Revenue
|
6.79
x
|
7.44
x
|
4.42
x
|
5.16
x
|
5.11
x
|
5.35
x
|
5.24
x
|
4.62
x
|
EV / EBITDA
|
9.63
x
|
12.3
x
|
8.24
x
|
10.2
x
|
9.45
x
|
10
x
|
9.19
x
|
8.31
x
|
EV / FCF
|
74.3
x
|
-54
x
|
28.2
x
|
-
|
21.5
x
|
12.5
x
|
17
x
|
13.7
x
|
FCF Yield
|
1.35%
|
-1.85%
|
3.54%
|
-
|
4.64%
|
8.01%
|
5.87%
|
7.28%
|
Price to Book
|
1.68
x
|
1.3
x
|
1.08
x
|
0.99
x
|
0.95
x
|
1.07
x
|
1
x
|
0.93
x
|
Nbr of stocks (in thousands)
|
5,037,748
|
5,037,748
|
5,037,748
|
5,037,748
|
5,037,748
|
5,037,748
|
-
|
-
|
Reference price
2 |
9.544
|
7.297
|
6.510
|
6.297
|
6.381
|
7.885
|
7.885
|
7.885
|
Announcement Date
|
3/31/20
|
3/28/21
|
2/23/22
|
3/26/23
|
3/28/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
10,078
|
8,032
|
13,793
|
13,256
|
15,192
|
16,328
|
16,754
|
18,085
|
EBITDA
1 |
7,108
|
4,872
|
7,396
|
6,669
|
8,212
|
8,723
|
9,545
|
10,048
|
EBIT
1 |
5,542
|
3,239
|
5,435
|
4,620
|
5,698
|
6,009
|
6,770
|
7,258
|
Operating Margin
|
54.99%
|
40.32%
|
39.41%
|
34.86%
|
37.51%
|
36.8%
|
40.4%
|
40.13%
|
Earnings before Tax (EBT)
1 |
5,522
|
3,234
|
5,420
|
4,581
|
5,672
|
6,226
|
6,799
|
7,285
|
Net income
1 |
4,200
|
2,464
|
4,179
|
3,724
|
4,413
|
4,719
|
5,184
|
5,470
|
Net margin
|
41.67%
|
30.68%
|
30.3%
|
28.09%
|
29.05%
|
28.9%
|
30.94%
|
30.25%
|
EPS
2 |
0.8336
|
0.4891
|
0.8374
|
0.7392
|
0.8760
|
0.9924
|
1.024
|
1.081
|
Free Cash Flow
1 |
920.9
|
-1,108
|
2,159
|
-
|
3,602
|
7,001
|
5,148
|
6,081
|
FCF margin
|
9.14%
|
-13.79%
|
15.65%
|
-
|
23.71%
|
42.88%
|
30.73%
|
33.63%
|
FCF Conversion (EBITDA)
|
12.96%
|
-
|
29.19%
|
-
|
43.86%
|
80.25%
|
53.94%
|
60.52%
|
FCF Conversion (Net income)
|
21.93%
|
-
|
51.66%
|
-
|
81.62%
|
148.35%
|
99.3%
|
111.17%
|
Dividend per Share
2 |
0.4600
|
0.4600
|
0.4600
|
0.4600
|
0.4700
|
0.4700
|
0.4700
|
0.4747
|
Announcement Date
|
3/31/20
|
3/28/21
|
2/23/22
|
3/26/23
|
3/28/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019 S2
|
2021 Q4
|
2022 Q1
|
2022 Q2
|
2022 S1
|
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
2025 Q2
|
---|
Net sales
|
-
|
6,133
|
2,578
|
1,975
|
-
|
4,931
|
3,771
|
3,630
|
3,507
|
4,473
|
3,583
|
3,473
|
-
|
-
|
-
|
-
|
-
|
EBITDA
1 |
-
|
1,770
|
-
|
-
|
-
|
2,189
|
-
|
-
|
-
|
-
|
-
|
-
|
2,171
|
2,351
|
2,351
|
2,293
|
2,293
|
EBIT
1 |
-
|
591.6
|
1,035
|
1,134
|
-
|
1,745
|
706.4
|
1,603
|
1,616
|
2,003
|
476.1
|
1,653
|
1,479
|
1,602
|
1,514
|
1,659
|
1,659
|
Operating Margin
|
-
|
9.65%
|
40.14%
|
57.41%
|
-
|
35.39%
|
18.73%
|
44.16%
|
46.08%
|
44.78%
|
13.29%
|
47.58%
|
-
|
-
|
-
|
-
|
-
|
Earnings before Tax (EBT)
1 |
-
|
575.9
|
-
|
-
|
-
|
1,738
|
678.9
|
-
|
1,617
|
2,003
|
453.4
|
-
|
1,697
|
1,838
|
1,790
|
-
|
-
|
Net income
1 |
1,918
|
390.5
|
-
|
953
|
1,748
|
1,361
|
615.1
|
1,227
|
-
|
-
|
376.5
|
1,247
|
1,144
|
1,239
|
1,131
|
-
|
-
|
Net margin
|
-
|
6.37%
|
-
|
48.25%
|
-
|
27.59%
|
16.31%
|
33.81%
|
-
|
-
|
10.51%
|
35.9%
|
-
|
-
|
-
|
-
|
-
|
EPS
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Dividend per Share
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Announcement Date
|
3/31/20
|
2/23/22
|
4/29/22
|
8/26/22
|
8/26/22
|
10/26/22
|
3/26/23
|
4/28/23
|
8/27/23
|
10/27/23
|
3/28/24
|
4/26/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
13,963
|
15,722
|
20,065
|
29,342
|
30,606
|
33,284
|
33,682
|
29,441
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
1.965
x
|
3.227
x
|
2.713
x
|
4.4
x
|
3.727
x
|
3.816
x
|
3.529
x
|
2.93
x
|
Free Cash Flow
1 |
921
|
-1,108
|
2,159
|
-
|
3,602
|
7,001
|
5,148
|
6,081
|
ROE (net income / shareholders' equity)
|
15.9%
|
8.82%
|
14.3%
|
11.2%
|
13.4%
|
12.7%
|
13.2%
|
12.8%
|
ROA (Net income/ Total Assets)
|
8.07%
|
4.22%
|
6.49%
|
4.48%
|
5.31%
|
5.87%
|
5.86%
|
6.04%
|
Assets
1 |
52,060
|
58,366
|
64,379
|
83,049
|
83,050
|
80,333
|
88,491
|
90,558
|
Book Value Per Share
2 |
5.670
|
5.600
|
6.000
|
6.340
|
6.750
|
7.400
|
7.870
|
8.480
|
Cash Flow per Share
2 |
1.140
|
0.6200
|
1.100
|
1.100
|
1.470
|
1.880
|
1.650
|
2.070
|
Capex
1 |
4,842
|
4,245
|
3,309
|
3,987
|
3,790
|
7,952
|
3,197
|
5,000
|
Capex / Sales
|
48.05%
|
52.85%
|
23.99%
|
30.08%
|
24.95%
|
48.7%
|
19.08%
|
27.65%
|
Announcement Date
|
3/31/20
|
3/28/21
|
2/23/22
|
3/26/23
|
3/28/24
|
-
|
-
|
-
|
Last Close Price
7.885
CNY Average target price
8.645
CNY Spread / Average Target +9.63% Consensus |
1st Jan change
|
Capi.
|
---|
| +18.09% | 7.48B | | -10.43% | 25.5B | | +0.22% | 20.21B | | +16.99% | 10.78B | | +9.97% | 6.88B | | +5.41% | 6.73B | | +25.94% | 5.84B | | -7.61% | 5.19B | | -11.71% | 4.96B | | +2.96% | 4.74B |
Highway Operators
|