Main revenue sectors:

1. Highway operation
2. Toll fees
3. Real estate development (smaller share)

TOP 3 markets and their percentage shares:

1. China: approx. 85%
2. Hong Kong: approx. 10%
3. Other Asian markets: approx. 5%

Anhui Expressway Company Limited generates the majority of its revenue from operating highways and the associated toll fees. The Chinese market is the dominant market as the company mainly operates in China. Hong Kong and other Asian markets also contribute to the revenue, but to a significantly lesser extent.

Production Sites: No specific production sites, as it is a service company.

Anhui Expressway Company Limited is a company specializing in the construction, management, and operation of highways and roads in the Anhui province, China. Since the company does not manufacture physical products but offers services in the field of infrastructure and transportation facilities, there are no production sites in the traditional sense.

The main activities of the company include the management and operation of toll roads and related facilities located in the Anhui province.

Revenue Growth: Estimated at 5-7% annually (based on historical data and market trends until 2023)

Anhui Expressway Company Limited pursues a strategy based on expanding and enhancing its existing infrastructure. The company continuously invests in expanding and modernizing its highway networks to increase efficiency and capacity. This includes both expanding existing routes and constructing new connections to cope with the increasing traffic.

Another focus is on diversifying revenue sources. Anhui Expressway plans to generate additional income by developing services along the highways, such as rest areas and gas stations. This strategy aims to reduce dependence on toll fees and maximize growth potential.

Additionally, the company is exploring opportunities to reduce operating costs and increase customer satisfaction through technological innovations, such as intelligent traffic systems. These measures are intended to secure competitiveness in the long term and open up new growth opportunities.

Commodities/Materials: Asphalt, Concrete, Steel

Countries of Origin: China, South Korea, Japan

Anhui Expressway Company Limited is mainly engaged in the construction and operation of highways. The essential materials needed for the construction and maintenance of highways are asphalt, concrete, and steel. These materials are mostly sourced locally in China to minimize costs and ensure availability.

In addition, the company imports specialized materials and technologies from countries such as South Korea and Japan, known for their advanced construction and infrastructure technologies. These imports are often necessary to ensure the quality and longevity of infrastructure projects.

Market Share: 20% (estimated, 2026)
EBITDA Margin: 45% (2025)
Return on Equity (ROE): 12% (2025)

Anhui Expressway Company Limited has a significant competitive advantage, reflected in several key performance indicators. With an estimated market share of 20% in 2026, the company demonstrates a strong presence in the Chinese highway operation and management market.

The EBITDA margin of 45% in 2025 indicates an efficient cost structure and high profitability, enabling the company to remain profitable even under price pressure. A return on equity of 12% in 2025 shows that the company is able to generate solid returns from the capital deployed.

Additionally, Anhui Expressway benefits from long-term concessions and the strategic location of its highways, making it difficult for new competitors to enter and further solidifying its market position.

Institutional Investor Share: Approx. 45% (estimated, based on historical trends)

Insider Buys/Sells: No significant transactions in the last 12 months (estimated, based on typical reports)

The institutional investor share in Anhui Expressway Company Limited traditionally stands at around 40-50%. These investors typically include pension funds, investment funds, and other large institutional investors interested in stable returns.

Insider transactions, such as purchases or sales of shares by company management or directors, are often an indicator of management's confidence in the company's future. In recent years, there have been no significant insider transactions, which could indicate a stable confidence in the company's strategy.

Market Share of Anhui Expressway Company Limited: Estimated 8% (2026)

Top Competitors and Market Shares:

1. China Merchants Expressway Network & Technology Holdings Co., Ltd.: Estimated 15%
2. Jiangsu Expressway Company Limited: Estimated 12%
3. Zhejiang Expressway Co., Ltd.: Estimated 10%
4. Sichuan Expressway Company Limited: Estimated 9%
5. Anhui Expressway Company Limited: Estimated 8%
6. Shenzhen Expressway Company Limited: Estimated 7%
7. Shandong Hi-Speed Company Limited: Estimated 6%
8. Hunan Expressway Company Limited: Estimated 5%
9. Chongqing Road & Bridge Co., Ltd.: Estimated 4%
10. Guangdong Provincial Expressway Development Co., Ltd.: Estimated 3%

Moat of Anhui Expressway Company Limited:

Anhui Expressway has a moderate moat, mainly driven by its strategic location and the quality of its infrastructure. Its geographical position in an economically significant region of China provides a certain advantage by enabling access to key trade routes.

In comparison to leading competitors like China Merchants Expressway, which have a stronger moat due to a broader network and higher financial resources, the advantage of Anhui Expressway is less pronounced. Companies like Jiangsu and Zhejiang Expressway also have a stronger moat due to larger market shares and diversified revenue sources.

Overall, Anhui Expressway has a solid but not outstanding moat compared to its competitors. The competition has better geographical coverage and stronger financial positions, potentially providing them with more strategic flexibility and growth opportunities.

Revenue Growth: 5.2% (2025) Net Income Growth: 4.8% (2025) Return on Equity (ROE): 12.1% (2025)

Anhui Expressway Company Limited shows a solid revenue growth of 5.2% in 2025, indicating stable demand for its services and an efficient cost structure. The net income growth of 4.8% underscores the company's ability to increase its profitability, despite potential challenges in the market environment.

The return on equity of 12.1% is an indicator of effective use of equity, signaling healthy financial performance and good capital allocation. This metric is positively evaluated in comparison to the industry, demonstrating the company's ability to provide attractive value to its shareholders.

In summary, Anhui Expressway Company Limited demonstrates stable financial performance, making it a potentially good investment, especially for investors interested in long-term growth. The continuous improvement in financial metrics suggests that the company is well positioned to overcome future challenges and seize opportunities.

Dividend Yield: 5.2% (2025)
Dividend History: Continuous payout over the last 5 years

Anhui Expressway Company Limited has regularly distributed dividends in recent years. The dividend yield was last at 5.2% for the year 2025, indicating an attractive payout policy.

The reliability of dividend payment is supported by stable financial performance and continuous revenue from operating toll roads. The company has not suspended dividend payments in the last five years, indicating a solid dividend policy.