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Zhejiang Expressway (576) investor relations material
Zhejiang Expressway H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased 9.4% year-over-year to Rmb19,755.49 million, driven by strong securities business growth despite a 2.6% decline in toll road revenue.
Profit attributable to owners fell 3.2% year-over-year to Rmb5,324.96 million, with basic and diluted EPS at Rmb88.62 cents.
A dividend of Rmb39.5 cents per share was recommended, up from Rmb38.5 cents last year.
Financial highlights
Gross profit was Rmb6,775.19 million, down from Rmb7,252.46 million in 2024.
Securities investment gains rose to Rmb2,819.17 million from Rmb1,735.12 million year-over-year.
Total comprehensive income attributable to owners was Rmb5,073.76 million, down from Rmb5,884.21 million.
Return on equity was 11.0%, a 7.6% decrease year-over-year.
Current ratio remained stable at 1.30; gearing ratio increased to 137.6%.
Outlook and guidance
2026 outlook anticipates moderate global recovery but ongoing risks from policy shifts, geopolitics, and trade friction.
Expressway business expects steady traffic growth, leveraging intelligent technologies and service upgrades.
Securities business to benefit from policy support and financial technology, focusing on core business and innovation.
- Profit rose 4.7% on steady toll growth, but securities revenue fell 11.2%.576
H1 20241 Dec 2025 - Revenue and profit rose, dividend increased, and capital structure strengthened.576
H2 20241 Dec 2025 - Revenue and profit rose, led by strong securities growth and ongoing expansion.576
H1 20251 Dec 2025 - Net profit and revenue rose year-over-year, with strong investment gains and higher interest income.576
Q3 20251 Dec 2025 - Revenue and net profit rose year-over-year, with improved investment gains and lower finance costs.576
Q3 202413 Jun 2025 - Revenue and net profit rose, but comprehensive income fell on investment losses.576
Q1 20256 Jun 2025
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