Main source of income: Toll road operation

TOP 3 markets:

1. China (domestic): approx. 85%
2. International markets (Asia): approx. 10%
3. Other regions: approx. 5%

Zhejiang Expressway Co., Ltd. generates the majority of its revenue from operating toll roads in China. The domestic market is the dominant revenue contributor as the company mainly operates in Zhejiang province. International markets, especially in Asia, also contribute to the revenue, but to a much lesser extent. Other regions have only a marginal share of the total revenue.

Production Sites: Zhejiang, China

Zhejiang Expressway Co., Ltd. is mainly engaged in the operation and management of highways and related services. The company does not produce physical products in the traditional sense, but offers services in the field of infrastructure management. The main focus is on the province of Zhejiang in China, where the company operates and manages its highways.

Revenue Growth: 8.5% (estimated for 2024)
Expansion of Services: Focus on digital toll systems and infrastructure development

Zhejiang Expressway Co., Ltd. is pursuing a growth strategy that focuses on diversifying its services and modernizing its infrastructure. A key component of this strategy is investing in digital toll systems aimed at increasing efficiency and user-friendliness.

Furthermore, the company plans to expand its presence in the field of infrastructure development by investing in new projects and modernizing existing roads and highways. These measures are intended not only to increase revenue but also to enhance competitiveness in the market.

In the long term, Zhejiang Expressway aims to take a leading role in the field of transportation infrastructure in China through strategic partnerships and investments in sustainable technologies.

Main raw materials: Asphalt, concrete, steel

Countries of origin:

• Asphalt: Mainly from the USA and the Middle East
• Concrete: Locally sourced in China, occasional imports from Vietnam
• Steel: China, Japan, South Korea

Zhejiang Expressway Co., Ltd. is heavily involved in infrastructure development, especially in the construction and maintenance of highways. Asphalt and concrete are essential materials for road construction, while steel is needed for bridges and other supporting structures. The procurement of these materials is done both locally and internationally to optimize costs and quality.

Market Share: 25% in the regional market (estimated, 2025)
EBITDA Margin: 45% (2024)
Credit Rating: A (2024)

Zhejiang Expressway Co., Ltd. has a significant competitive advantage in the highway operation sector in the Zhejiang region. The high market share of approximately 25% in the regional market underscores the company's strong market position.

The EBITDA margin of 45% demonstrates high operational efficiency and profitability, indicating effective cost control and strong revenue sources. This margin is significantly higher compared to other companies in the industry, pointing to a solid competitive advantage.

The credit rating of A reflects the financial stability and the company's ability to service its debts, which is also an indicator of a strong competitive advantage. Zhejiang Expressway also benefits from government support and strategically important infrastructure that secures long-term revenue.

Institutional Investor Share: approximately 40% (estimated for 2025 based on historical trends)

Insider Buys/Sells: No significant transactions in the last year (2024)

The institutional investor share in Zhejiang Expressway Co., Ltd. is estimated to be around 40%. This reflects a high level of confidence from institutional investors in the company's stability and growth potential.

In 2024, there were no significant insider buys or sells, indicating a stable confidence from management in the company's future development. Such information is important for assessing the leadership's trust in the business's own growth.

Market share of Zhejiang Expressway Co., Ltd.: Estimate: 12% (2025)

Top competitors and their market shares:

1. China Merchants Expressway Network & Technology Holdings Co., Ltd.: 15%
2. Jiangsu Expressway Company Limited: 14%
3. Anhui Expressway Company Limited: 10%
4. Shenzhen Expressway Company Limited: 8%
5. Sichuan Expressway Company Limited: 7%

Zhejiang Expressway Co., Ltd. holds a significant market share of around 12% in the highway operator companies sector in China. The market share is relatively stable, but not the largest compared to China Merchants Expressway, which leads the market with 15%.

The moat of Zhejiang Expressway Co., Ltd. mainly lies in its strategic location and the quality of its infrastructure. The main arteries they operate are crucial for transportation in the economically important Zhejiang region. This gives them an advantage in terms of stable revenues and relatively high pricing power.

However, some competitors, like China Merchants Expressway, may have a wider moat due to their greater geographic diversification and technological investments that can lead to more efficient operations. Jiangsu Expressway, with its strong presence in one of China's most economically dynamic regions, also has a significant advantage.

Overall, Zhejiang Expressway has a respectable moat, but some competitors may be better positioned due to larger networks and technological advantages.

Revenue Growth: 8.5% (2024) Net Income Growth: 7.2% (2024) Dividend Yield: 4.8% (2024) Return on Equity: 10.5% (2024)

Zhejiang Expressway Co., Ltd. was able to achieve solid revenue growth of 8.5% in 2024, attributed to stable demand in the infrastructure sector and efficient operational management. The company also achieved a net income growth of 7.2%, indicating improved cost control and operational efficiency.

The dividend yield of 4.8% is attractive to investors seeking regular returns. The return on equity of 10.5% shows that the company is able to efficiently utilize its resources to generate profits.

Overall, the financial performance of Zhejiang Expressway Co., Ltd. suggests that the stock could be a good investment, especially for investors looking for stable returns and a company with a solid financial foundation.

Dividend Yield: 5.2% (estimated for 2025)
Dividend History: Steady payout over the last 5 years

Zhejiang Expressway Co., Ltd. has paid a consistent dividend in recent years, indicating a reliable payout policy. The company has a solid financial foundation and benefits from stable revenue from toll road operations.

The estimated dividend yield of 5.2% for 2025 suggests that the company continues to strive to offer attractive returns to its shareholders. The steady dividend history of the last five years supports the reliability of the payouts.