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Operator of toll expressways in Jiangsu province, one of China's wealthiest and most trafficked regions.
Operator of toll expressways in Jiangsu province, one of China's wealthiest and most trafficked regions.
This is the Hong Kong share class of the same toll-road company as the Shanghai listing. It collects tolls on Jiangsu expressways, with the Shanghai-Nanjing road the core asset, under government-granted concessions, and has equity income from a stake in Bank of Jiangsu. The provincial state-owned Jiangsu Communications Holding controls it.
In one line: A Chinese regional toll-road operator, akin to a state-linked infrastructure REIT.
Moat: wide (regulatory licence, installed base). Government-granted, decades-long toll concessions on key Jiangsu expressway corridors.
Headquarters: Nanjing, China · Founded: 1992 · Employees: 4,463
Size Jiangsu Expressway (0177.HK) is a Hong Kong Industrials company (Other Transportation) with a market value of $9.54B, the 168th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$11.32 on 6 Nov 2026.
Performance Over six months the shares gained 6.4%, against +1.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 7.6% over the last twelve months (peer median +9.1%); the operating margin is 25.5% (peer median 22.0%).
Valuation It trades at 10.1× forward earnings against a peer median of 16.5× (3rd cheapest of 20).
Capital Return on invested capital runs 0.7 points above its cost of capital (5.7% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$25.7B | HK$22.0B | HK$25.1B | HK$16.7B | HK$15.2B |
| Revenue growth | — | -13% | +50% | +10% | — |
| Gross profit | HK$9.00B | HK$6.50B | HK$6.49B | HK$6.07B | HK$4.86B |
| EBITDA | n/a | HK$8.57B | HK$8.51B | HK$8.21B | HK$6.96B |
| Net income | HK$5.25B | HK$4.98B | HK$5.36B | HK$4.88B | HK$4.33B |
| Free cash flow | -HK$451M | -HK$19.4M | -HK$4.03B | HK$4.83B | HK$2.79B |
| Capital expenditure | HK$9.56B | HK$8.27B | HK$11.7B | HK$4.20B | HK$4.70B |
| Total debt | HK$44.5B | HK$39.4B | HK$38.4B | HK$37.0B | HK$40.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Jiangsu Expressway 0177.HK | $9.54B | +6% | +8% | 26% | 10.1× | n/a |
| Zhejiang Expressway 0576.HK | $4.86B | -13% | +18% | 33% | 5.9× | n/a |
| Shenzhen Expressway 0548.HK | $2.91B | -12% | 0% | 17% | 9.3× | 0.0% |
| Anhui Expressway 0995.HK | $4.18B | -3% | -17% | 45% | 10.5× | -5.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0177.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | +8.3% | 10th lowest of 21 |
| 6-month return | +6.4% | +1.5% | 8th highest of 21 |
| Distance from 52-week high | -2.8% | -18.2% | highest of 21 |
| Revenue growth (TTM) | +7.6% | +9.1% | 9th lowest of 21 |
| Operating margin | 25.5% | 22.0% | 10th highest of 21 |
| Forward P/E | 10.1× | 16.5× | 3rd cheapest of 20 |
| ROIC minus cost of capital | +0.7 pp | -0.2 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu Expressway 0177.HK | Hong Kong | $9.54B | +6% | +8% | 26% | 10.1× | n/a | n/a |
| Shanghai International Airport 600009.SS | China | $9.22B | -9% | +7% | 19% | 23.7× | -2.6% | +25.4% |
| China Merchants Port 001872.SZ | China | $9.20B | +14% | +8% | 32% | 12.9× | 2.1% | +6.2% |
| StandardAero SARO | United States | $9.14B | +10% | +13% | 10% | 16.4× | 10.9% | +13.5% |
| Qingdao Port International 601298.SS | China | $8.98B | +10% | +4% | 31% | 12.0× | -12.0% | +7.2% |
| China Merchants Expressway Network & Technology 001965.SZ | China | $10.6B | +10% | +26% | 15% | 14.6× | 6.7% | +13.7% |
| GMR Airports GMRAIRPORT.NS | India | $11.1B | -2% | +29% | 27% | 296.2× | n/a | n/a |
| Shandong Hi-speed 600350.SS | China | $8.06B | +4% | -4% | 20% | 18.0× | 4.7% | +13.0% |
| Grupo Aeroportuario del Sureste SAB de CV Sponsored ADR ASR | United States | $7.95B | -15% | +26% | 41% | 12.2× | -2.3% | +27.0% |
| Flughafen Zurich FHZN.SW | Switzerland | $7.94B | -3% | +4% | 35% | 20.3× | 0.3% | +16.9% |
| Fraport FRA.DE | Germany | $7.09B | +1% | +3% | 19% | 21.2× | 6.3% | +21.5% |
| Hankyu Hanshin 9042.T | Japan | $7.03B | +3% | +6% | 10% | 13.2× | n/a | n/a |
| Aeroports de Paris ADP.PA | France | $13.0B | +9% | +5% | 18% | 18.1× | 11.5% | +25.7% |
| Kobenhavns Lufthavne A/S KBHL.CO | Denmark | $6.60B | -6% | +9% | 34% | n/a | 6.7% | +28.5% |
| Lyft LYFT | United States | $6.47B | +19% | +11% | -2% | 21.9× | -6.1% | +21.7% |
| Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR PAC | United States | $14.5B | +1% | +20% | 44% | 17.1× | 8.2% | +31.3% |
| Tokyo Metro 9023.T | Japan | $5.31B | -8% | +3% | 21% | 16.5× | 4.8% | +7.4% |
| Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR OMAB | United States | $5.21B | +2% | +21% | 53% | 13.2× | -5.1% | +27.2% |
| Zhejiang Expressway 0576.HK | Hong Kong | $4.86B | -13% | +18% | 33% | 5.9× | n/a | n/a |
| Shanghai International Port (Group) 600018.SS | China | $19.7B | +14% | +9% | 23% | 8.6× | -3.6% | +9.0% |
| Hainan Airport Infrastructure 600515.SS | China | $4.56B | -26% | +25% | -5% | 133.0× | n/a | n/a |