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Toll-road operator managing expressways in Zhejiang province, China, plus related transport-infrastructure investments.
Toll-road operator managing expressways in Zhejiang province, China, plus related transport-infrastructure investments.
Collects tolls from vehicles on its expressways at rates set by the provincial government, so income follows traffic, especially freight, and any approved change in toll rates. Concessions have fixed end dates, after which roads revert to the state. It also holds a large stake in the securities firm Zheshang Securities. A provincial state-owned transport group controls it.
In one line: China's regional toll-road utility, like a Transurban for Zhejiang.
Moat: wide (regulatory licence, installed base). Long-dated, government-granted toll concessions on key Zhejiang expressways provide monopoly-like, inflation-linked cash flows.
Headquarters: Hangzhou, Zhejiang, China · Founded: 1997 · Employees: 11,680
Size Zhejiang Expressway (0576.HK) is a Hong Kong Industrials company (Other Transportation) with a market value of $4.86B, the 257th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$6.31 on 6 Nov 2026.
Performance Over six months the shares fell 13.4%, against +2.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 17.9% over the last twelve months (peer median +5.4%); the operating margin is 33.3% (peer median 15.4%).
Valuation It trades at 5.9× forward earnings against a peer median of 16.5× (cheapest of 18).
Capital Return on invested capital runs 0.6 points above its cost of capital (5.3% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$24.5B | HK$21.4B | HK$19.6B | HK$18.7B | HK$17.8B |
| Revenue growth | — | +9% | +4% | +5% | — |
| Gross profit | HK$11.8B | HK$7.35B | HK$7.86B | HK$7.96B | HK$6.94B |
| EBITDA | n/a | HK$11.4B | HK$11.8B | HK$11.8B | HK$11.1B |
| Net income | HK$6.01B | HK$5.78B | HK$5.96B | HK$5.77B | HK$6.02B |
| Free cash flow | n/a | -HK$4.47B | HK$4.99B | HK$5.84B | HK$7.24B |
| Capital expenditure | n/a | HK$3.76B | HK$2.33B | HK$1.56B | HK$1.88B |
| Total debt | n/a | HK$125B | HK$85.8B | HK$93.1B | HK$89.7B |
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 |
|---|---|---|---|---|---|---|
| Zhejiang Expressway 0576.HK | $4.86B | -13% | +18% | 33% | 5.9× | n/a |
| Anhui Expressway 0995.HK | $4.18B | -3% | -17% | 45% | 10.5× | -5.8% |
| Shenzhen Expressway 0548.HK | $2.91B | -12% | 0% | 17% | 9.3× | 0.0% |
| Sichuan Expressway 0107.HK | $2.84B | -11% | +8% | 26% | 8.0× | n/a |
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 | 0576.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.0% | +2.1% | 5th highest of 21 |
| 6-month return | -13.4% | +2.4% | 3rd lowest of 21 |
| Distance from 52-week high | -22.7% | -17.0% | 5th lowest of 21 |
| Revenue growth (TTM) | +17.9% | +5.4% | 3rd highest of 21 |
| Operating margin | 33.3% | 15.4% | 6th highest of 21 |
| Forward P/E | 5.9× | 16.5× | cheapest of 18 |
| ROIC minus cost of capital | +0.6 pp | -0.8 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Expressway 0576.HK | Hong Kong | $4.86B | -13% | +18% | 33% | 5.9× | n/a | n/a |
| Hainan Airport Infrastructure 600515.SS | China | $4.56B | -26% | +25% | -5% | 133.0× | n/a | n/a |
| Liaoning Port 601880.SS | China | $4.54B | -10% | -3% | 21% | n/a | -10.7% | -1.3% |
| Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR OMAB | United States | $5.21B | +2% | +21% | 53% | 13.2× | -5.1% | +27.2% |
| Tokyo Metro 9023.T | Japan | $5.31B | -8% | +3% | 21% | 16.5× | 4.8% | +7.4% |
| Taiwan High Speed Rail 2633.TW | Taiwan | $4.36B | -3% | +4% | 39% | 19.2× | 0.8% | +6.9% |
| SATS S58.SI | Singapore | $4.34B | +15% | +9% | 9% | 17.6× | -0.2% | +45.6% |
| Anhui Expressway 600012.SS | China | $4.29B | +13% | -14% | 42% | 14.5× | -5.4% | +18.0% |
| Tangshan Port 601000.SS | China | $4.27B | +3% | +10% | 39% | 13.9× | -11.0% | -6.2% |
| Kintetsu 9041.T | Japan | $4.23B | +5% | +2% | 5% | 13.5× | n/a | n/a |
| Corporacion America Airports CAAP | United States | $4.00B | -3% | +16% | 23% | 9.6× | -6.3% | +26.4% |
| Wilh. Wilhelmsen WWI.OL | Norway | $3.87B | +23% | -4% | 10% | 8.4× | 6.2% | +11.0% |
| Atlas Arteria ALX.AX | Australia | $3.78B | -21% | +2% | -20% | 20.6× | -3.5% | +8.9% |
| Lyft LYFT | United States | $6.47B | +19% | +11% | -2% | 21.9× | -6.1% | +21.7% |
| Kobenhavns Lufthavne A/S KBHL.CO | Denmark | $6.60B | -6% | +9% | 34% | n/a | 6.7% | +28.5% |
| Guangzhou Port 601228.SS | China | $3.54B | -3% | -18% | 11% | n/a | n/a | n/a |
| Japan Airport Terminal 9706.T | Japan | $3.46B | +16% | +8% | 17% | 19.2× | -2.3% | +40.7% |
| Hankyu Hanshin 9042.T | Japan | $7.03B | +3% | +6% | 10% | 13.2× | n/a | n/a |
| Fraport FRA.DE | Germany | $7.09B | +1% | +3% | 19% | 21.2× | 6.3% | +21.5% |
| COSCO SHIPPING Ports 1199.HK | Hong Kong | $3.32B | +18% | +12% | 14% | 8.5× | 8.7% | +10.9% |
| ENAV ENAV.MI | Italy | $3.19B | +8% | +3% | 9% | 26.9× | 13.8% | +6.0% |