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

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

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.)