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Toll-road operator that owns and operates expressways in Jiangxi province, earning toll revenue.
Toll-road operator that owns and operates expressways in Jiangxi province, earning toll revenue.
In one line: A regional toll-road operator like a Chinese Transurban.
Moat: narrow (regulatory licence, installed base). Government-granted toll concessions on established expressway routes.
Headquarters: Nanchang, Jiangxi, China · Employees: 2,663
Size Jiangxi Ganyue Expressway (600269.SS) is a China Industrials company (Engineering & Construction) with a market value of $1.44B, the 1693rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.10 on 6 Nov 2026.
Performance Over six months the shares fell 7.5%, against -15.2% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +8.0%); the operating margin is 27.8% (peer median 6.3%).
Valuation It trades at 3.0× enterprise value to sales against a peer median of 1.1× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.02B | CN¥6.26B | CN¥5.96B | CN¥7.46B | CN¥6.74B |
| Revenue growth | — | +5% | -20% | +11% | — |
| Gross profit | CN¥3.19B | CN¥2.29B | CN¥2.28B | CN¥2.32B | CN¥2.11B |
| EBITDA | n/a | CN¥2.98B | CN¥3.04B | CN¥2.94B | CN¥2.77B |
| Net income | CN¥189M | CN¥1.28B | CN¥1.28B | CN¥1.18B | CN¥696M |
| Free cash flow | CN¥1.31B | CN¥1.25B | CN¥157M | CN¥202M | CN¥1.50B |
| Capital expenditure | CN¥1.33B | CN¥1.69B | CN¥2.43B | CN¥2.31B | CN¥1.05B |
| Total debt | CN¥10.2B | CN¥12.2B | CN¥12.6B | CN¥11.9B | CN¥10.9B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Jiangxi Ganyue Expressway 600269.SS | $1.44B | -7% | +3% | 28% | 3.0× | -11.6% |
| Jiangsu Expressway 600377.SS | $9.75B | +13% | +3% | 25% | 5.0× | 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 | 600269.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.3% | -6.7% | highest of 21 |
| 6-month return | -7.5% | -15.2% | 8th highest of 21 |
| Distance from 52-week high | -26.6% | -32.5% | 8th highest of 21 |
| Revenue growth (TTM) | +3.4% | +8.0% | 9th lowest of 21 |
| Operating margin | 27.8% | 6.3% | highest of 21 |
| EV / Sales | 3.0× | 1.1× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -11.6% | -5.3% | 2nd least demanding of 13 |
| Growth delivered (Del g) | +4.4% | +3.5% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -16.0 pp | -8.8 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +1.6 pp | +0.1 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangxi Ganyue Expressway 600269.SS | China | $1.44B | -7% | +3% | 28% | 3.0× | -11.6% | +4.4% |
| Zhejiang Construction Investment 002761.SZ | China | $1.42B | -14% | -12% | 0% | 0.3× | 13.0% | +0.4% |
| Shaanxi Construction Engineering 600248.SS | China | $1.45B | -25% | -25% | 0% | 0.7× | n/a | n/a |
| Hongrun Construction 002062.SZ | China | $1.45B | -11% | -12% | 7% | 1.8× | 5.6% | -12.6% |
| SRG Global SRG.AX | Australia | $1.46B | +7% | +27% | 7% | 1.3× | 16.4% | +24.1% |
| Beijing Gehua CATV Network 600037.SS | China | $1.40B | -16% | +24% | -5% | 1.1× | n/a | n/a |
| Ruentex Engineering & Construction 2597.TW | Taiwan | $1.50B | +5% | +20% | 14% | 1.7× | -5.0% | +16.8% |
| Kepco Kps 051600.KS | South Korea | $1.37B | -34% | +6% | 9% | 1.0× | -6.1% | +3.9% |
| Dl E&c 375500.KS | South Korea | $1.53B | -48% | -17% | 4% | 0.3× | -8.3% | -5.3% |
| Farglory Land Development 5522.TW | Taiwan | $1.34B | -18% | +164% | 26% | 1.9× | -13.6% | +3.0% |
| VA Tech Wabag WABAG.NS | India | $1.32B | +33% | +20% | 11% | 3.0× | 34.6% | +6.8% |
| Zhejiang Youpon Integrated Ceiling 002718.SZ | China | $1.58B | +12% | -18% | -5% | 24.0× | n/a | n/a |
| Zhejiang Communications Technology 002061.SZ | China | $1.30B | -15% | -12% | 3% | 0.4× | -6.5% | +4.8% |
| China CAMC Engineering 002051.SZ | China | $1.58B | -15% | +14% | 5% | 0.6× | n/a | n/a |
| Taiwan Cogeneration 8926.TW | Taiwan | $1.30B | +9% | +324% | 8% | 2.1× | n/a | n/a |
| Kumagai Gumi 1861.T | Japan | $1.30B | -20% | -4% | 6% | 0.4× | -9.2% | +1.6% |
| Lloyds Engineering Works LLOYDSENGG.NS | India | $1.29B | +36% | +83% | 11% | 6.9× | n/a | n/a |
| Shenzhen Urban Transport Technology 301091.SZ | China | $1.29B | -23% | +17% | 2% | 5.8× | n/a | n/a |
| Nippon Densetsu Kogyo 1950.T | Japan | $1.29B | -30% | +10% | 12% | 0.9× | -0.1% | +3.2% |
| CTCI 9933.TW | Taiwan | $1.29B | +22% | -22% | 9% | 0.3× | n/a | n/a |
| MIRAIT ONE 1417.T | Japan | $1.60B | -24% | +5% | 6% | 0.5× | -5.7% | +5.4% |