Sichuan Expressway released its 2026 interim report. During the reporting period, the company achieved operating revenue of 4.945 billion yuan, up 12.65% year on year. Net profit attributable to the parent company was 899 million yuan, up 1.94% year on year. Adjusted net profit was 806 million yuan, down 6.42% year on year. Revenue growth was mainly driven by an expanded consolidation scope. The company completed the acquisition of an 85% stake in Hubei Jingyi Expressway, adding toll revenue of approximately 257 million yuan, but core toll revenue came under pressure from road network diversion and preferential policies. Highway, bridge management and maintenance business contributed revenue of 2.428 billion yuan, accounting for 49.11% of the total, down 4.12% year on year. Construction service revenue was 1.429 billion yuan, and merchandise sales revenue was 978 million yuan. Net cash flow from operating activities was 1.841 billion yuan, up 24.48% year on year. Total assets at the end of the period were 67.275 billion yuan, and net assets attributable to the parent company were 20.098 billion yuan, down 10.85% from the end of the previous year, mainly due to adjustments from business combinations under common control. The company faces multiple pressures from expiring toll periods, normalised road network diversion and continued toll preferential policies. Going forward, attention should be paid to the recovery of traffic volume on core road sections and the conversion of new project earnings.
Sichuan Expressway Co LtdAdjusted net profit down 6.42% despite revenue growth, with core toll revenue pressured by road network diversion and preferential policies.
