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China's Sichuan Expressway nine-month revenue totals RMB 7.04 bln

By Reuters News


Overview

  • China toll road operator's nine-month revenue totaled RMB 7.04 bln

  • Net income attributable for nine months reached RMB 1.39 bln

  • Company made retrospective adjustments due to business combination with Hubei Jingyi Expressway


Outlook

  • Company did not provide specific guidance for current or future quarters in the press release


Result Drivers

  • BUSINESS COMBINATION - Co said results reflect retrospective adjustments due to business combination with Hubei Jingyi Expressway

  • GOVERNMENT GRANTS - Co recognized RMB 36.47 mln in government grants during the nine-month period

  • IMPAIRMENT REVERSALS - Co recorded RMB 37.21 mln in reversals of impairment provisions on receivables


Company press release: Full Story


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

RMB 7.04 bln

9M Net Income Attributable

RMB 1.39 bln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the highways & rail tracks peer group is "buy"

  • Wall Street's median 12-month price target for SICHUAN EXPRESSWAY GROUP COMPANY LIMITED is CNY7.73, about 20% above its October 29 closing price of CNY6.44

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Oct 29 - China's Zhejiang Expressway nine-month revenue rises year-on-year

  • Oct 27 - Guangdong Investment 9M revenue rises on water resources strength

  • Oct 28 - China's Xinhua Winshare nine-month revenue falls 5%, profit drops 11%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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