Guangdong Provincial Expressway Development Co Ltd
Guangdong Provincial Expressway Development Co., Ltd., invests, constructs, charges, manages, and maintains toll highways and bridges in the People's Republic of China. It is also involved in the maintenance, cleaning, and service of automobile rescue; Parking lot charges; Design, production, release, and agency of advertisements at home and abroad; land development; warehousing activities; resea… Read more
Guangdong Provincial Expressway Development Co Ltd (200429) - Net Assets
Latest net assets as of June 2025: HK$13.51 Billion HKD
Based on the latest financial reports, Guangdong Provincial Expressway Development Co Ltd (200429) has net assets worth HK$13.51 Billion HKD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (HK$24.45 Billion) and total liabilities (HK$10.94 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | HK$13.51 Billion |
| % of Total Assets | 55.25% |
| Annual Growth Rate | 8.76% |
| 5-Year Change | 28.96% |
| 10-Year Change | 115.32% |
| Growth Volatility | 14.67 |
Guangdong Provincial Expressway Development Co Ltd - Net Assets Trend (1994–2024)
This chart illustrates how Guangdong Provincial Expressway Development Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Guangdong Provincial Expressway Development Co Ltd (1994–2024)
The table below shows the annual net assets of Guangdong Provincial Expressway Development Co Ltd from 1994 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | HK$13.20 Billion | +6.34% |
| 2023-12-31 | HK$12.41 Billion | +9.15% |
| 2022-12-31 | HK$11.37 Billion | +0.42% |
| 2021-12-31 | HK$11.32 Billion | +10.64% |
| 2020-12-31 | HK$10.23 Billion | -0.18% |
| 2019-12-31 | HK$10.25 Billion | +2.03% |
| 2018-12-31 | HK$10.05 Billion | +6.26% |
| 2017-12-31 | HK$9.45 Billion | +6.90% |
| 2016-12-31 | HK$8.84 Billion | +44.30% |
| 2015-12-31 | HK$6.13 Billion | +4.38% |
| 2014-12-31 | HK$5.87 Billion | +16.19% |
| 2013-12-31 | HK$5.05 Billion | -1.17% |
| 2012-12-31 | HK$5.11 Billion | +7.50% |
| 2011-12-31 | HK$4.76 Billion | -0.92% |
| 2010-12-31 | HK$4.80 Billion | +19.60% |
| 2009-12-31 | HK$4.01 Billion | +5.37% |
| 2008-12-31 | HK$3.81 Billion | +0.80% |
| 2007-12-31 | HK$3.78 Billion | -13.70% |
| 2006-12-31 | HK$4.38 Billion | +3.04% |
| 2005-12-31 | HK$4.25 Billion | -2.64% |
| 2004-12-31 | HK$4.36 Billion | +1.90% |
| 2003-12-31 | HK$4.28 Billion | +6.49% |
| 2002-12-31 | HK$4.02 Billion | +2.17% |
| 2001-12-31 | HK$3.94 Billion | +16.73% |
| 2000-12-31 | HK$3.37 Billion | +32.34% |
| 1999-12-31 | HK$2.55 Billion | +8.62% |
| 1998-12-31 | HK$2.35 Billion | +34.51% |
| 1997-12-31 | HK$1.74 Billion | +2.83% |
| 1996-12-31 | HK$1.70 Billion | +57.80% |
| 1995-12-31 | HK$1.07 Billion | +1.16% |
| 1994-12-31 | HK$1.06 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Guangdong Provincial Expressway Development Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 23609.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | HK$5.54 Billion | 52.96% |
| Common Stock | HK$2.09 Billion | 19.97% |
| Other Components | HK$2.83 Billion | 27.06% |
| Total Equity | HK$10.47 Billion | 100.00% |
Guangdong Provincial Expressway Development Co Ltd Competitors by Market Cap
The table below lists competitors of Guangdong Provincial Expressway Development Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Riyue Heavy Industry Co Ltd
SHG:603218
|
$1.13 Billion |
|
Elite Advanced Laser Corp
TW:3450
|
$1.13 Billion |
|
Webuild S.p.A.
LSE:0BJP
|
$1.13 Billion |
|
Suzhou Jinhong Gas Co Ltd
SHG:688106
|
$1.14 Billion |
|
Huafon Microfibre Shanghai Co
SHE:300180
|
$1.13 Billion |
|
Hefei Metalforming Mach Tool
SHG:603011
|
$1.13 Billion |
|
Yantai Zhenghai Magnetic Mat
SHE:300224
|
$1.13 Billion |
|
FLAT GLASS GROUP H YC-25
F:72T
|
$1.13 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Guangdong Provincial Expressway Development Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 9,847,531,855 to 10,468,100,319, a change of 620,568,464 (6.3%).
- Net income of 1,562,122,219 contributed positively to equity growth.
- Dividend payments of 1,391,040,282 reduced retained earnings.
- Other factors increased equity by 449,486,527.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | HK$1.56 Billion | +14.92% |
| Dividends Paid | HK$1.39 Billion | -13.29% |
| Other Changes | HK$449.49 Million | +4.29% |
| Total Change | HK$- | 6.30% |
Book Value vs Market Value Analysis
This analysis compares Guangdong Provincial Expressway Development Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.79x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 11.39x to 1.79x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | HK$0.79 | HK$8.95 | x |
| 1995-12-31 | HK$0.82 | HK$8.95 | x |
| 1996-12-31 | HK$1.30 | HK$8.95 | x |
| 1997-12-31 | HK$1.34 | HK$8.95 | x |
| 1998-12-31 | HK$1.80 | HK$8.95 | x |
| 1999-12-31 | HK$1.95 | HK$8.95 | x |
| 2000-12-31 | HK$2.61 | HK$8.95 | x |
| 2001-12-31 | HK$2.65 | HK$8.95 | x |
| 2002-12-31 | HK$2.68 | HK$8.95 | x |
| 2003-12-31 | HK$2.81 | HK$8.95 | x |
| 2004-12-31 | HK$2.87 | HK$8.95 | x |
| 2005-12-31 | HK$3.01 | HK$8.95 | x |
| 2006-12-31 | HK$3.11 | HK$8.95 | x |
| 2007-12-31 | HK$2.61 | HK$8.95 | x |
| 2008-12-31 | HK$2.68 | HK$8.95 | x |
| 2009-12-31 | HK$2.82 | HK$8.95 | x |
| 2010-12-31 | HK$3.42 | HK$8.95 | x |
| 2011-12-31 | HK$3.23 | HK$8.95 | x |
| 2012-12-31 | HK$3.40 | HK$8.95 | x |
| 2013-12-31 | HK$3.32 | HK$8.95 | x |
| 2014-12-31 | HK$3.93 | HK$8.95 | x |
| 2015-12-31 | HK$2.99 | HK$8.95 | x |
| 2016-12-31 | HK$4.31 | HK$8.95 | x |
| 2017-12-31 | HK$4.30 | HK$8.95 | x |
| 2018-12-31 | HK$4.57 | HK$8.95 | x |
| 2019-12-31 | HK$4.68 | HK$8.95 | x |
| 2020-12-31 | HK$3.84 | HK$8.95 | x |
| 2021-12-31 | HK$4.28 | HK$8.95 | x |
| 2022-12-31 | HK$4.34 | HK$8.95 | x |
| 2023-12-31 | HK$4.70 | HK$8.95 | x |
| 2024-12-31 | HK$5.01 | HK$8.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Guangdong Provincial Expressway Development Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.92%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 34.18%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 2.14x
- Recent ROE (14.92%) is above the historical average (10.69%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 11.90% | 69.73% | 0.14x | 1.18x | HK$18.80 Million |
| 1995 | 12.38% | 67.08% | 0.16x | 1.17x | HK$24.44 Million |
| 1996 | 8.38% | 62.31% | 0.12x | 1.11x | HK$-26.59 Million |
| 1997 | 10.37% | 80.62% | 0.11x | 1.14x | HK$6.15 Million |
| 1998 | 6.52% | 63.91% | 0.09x | 1.14x | HK$-78.78 Million |
| 1999 | 11.95% | 113.48% | 0.08x | 1.25x | HK$47.81 Million |
| 2000 | 3.88% | 50.58% | 0.07x | 1.16x | HK$-200.65 Million |
| 2001 | 4.77% | 25.41% | 0.11x | 1.73x | HK$-174.20 Million |
| 2002 | 5.11% | 22.83% | 0.12x | 1.82x | HK$-164.71 Million |
| 2003 | 5.13% | 22.73% | 0.12x | 1.89x | HK$-172.22 Million |
| 2004 | 6.37% | 25.45% | 0.13x | 1.89x | HK$-130.94 Million |
| 2005 | 8.60% | 31.74% | 0.15x | 1.80x | HK$-52.89 Million |
| 2006 | 8.47% | 31.28% | 0.16x | 1.71x | HK$-59.69 Million |
| 2007 | 14.85% | 44.35% | 0.19x | 1.75x | HK$161.21 Million |
| 2008 | 11.94% | 43.22% | 0.13x | 2.14x | HK$65.72 Million |
| 2009 | 9.23% | 35.44% | 0.11x | 2.48x | HK$-27.78 Million |
| 2010 | 9.07% | 38.76% | 0.10x | 2.46x | HK$-39.85 Million |
| 2011 | 5.27% | 20.11% | 0.09x | 2.87x | HK$-194.73 Million |
| 2012 | 4.12% | 15.90% | 0.08x | 3.08x | HK$-251.10 Million |
| 2013 | 3.02% | 9.63% | 0.10x | 3.00x | HK$-296.02 Million |
| 2014 | 6.35% | 21.91% | 0.12x | 2.49x | HK$-182.86 Million |
| 2015 | 9.01% | 30.37% | 0.13x | 2.32x | HK$-51.54 Million |
| 2016 | 12.08% | 35.44% | 0.18x | 1.94x | HK$172.30 Million |
| 2017 | 16.73% | 48.88% | 0.19x | 1.83x | HK$607.62 Million |
| 2018 | 17.49% | 52.10% | 0.20x | 1.70x | HK$718.36 Million |
| 2019 | 12.81% | 41.16% | 0.17x | 1.80x | HK$276.29 Million |
| 2020 | 17.20% | 36.00% | 0.19x | 2.49x | HK$571.07 Million |
| 2021 | 27.02% | 45.89% | 0.28x | 2.10x | HK$1.53 Billion |
| 2022 | 19.77% | 43.05% | 0.21x | 2.23x | HK$887.00 Million |
| 2023 | 16.59% | 33.49% | 0.23x | 2.17x | HK$649.06 Million |
| 2024 | 14.92% | 34.18% | 0.20x | 2.14x | HK$515.31 Million |
Industry Comparison
This section compares Guangdong Provincial Expressway Development Co Ltd's net assets metrics with peer companies in the Infrastructure Operations industry.
Industry Context
- Industry: Infrastructure Operations
- Average net assets among peers: $11,665,020,239
- Average return on equity (ROE) among peers: -0.25%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Guangdong Provincial Expressway Development Co Ltd (200429) | HK$13.51 Billion | 11.90% | 0.81x | $1.13 Billion |
| Shanxi Sanwei Group Co Ltd (000755) | $4.95 Billion | 9.26% | 1.57x | $239.87 Million |
| Dongguan Development Holdings Co Ltd (000828) | $2.67 Billion | 6.91% | 0.56x | $469.41 Million |
| City Development Environment Co Ltd (000885) | $103.40 Million | -76.39% | 3.38x | $431.18 Million |
| Xiandai Investment Co Ltd (000900) | $5.14 Billion | 16.00% | 0.56x | $475.65 Million |
| Merchant Express Class A (001965) | $63.32 Billion | 7.85% | 0.55x | $2.91 Billion |
| Shandong Sunway Petrochemical Engineering Co Ltd (002469) | $2.87 Billion | 9.16% | 0.26x | $626.47 Million |
| Xinjiang Communications Construction Group Co Ltd Class A (002941) | $2.50 Billion | 14.14% | 3.06x | $839.14 Million |
| Henan Zhongyuan Expressway Co Ltd (600020) | $11.21 Billion | 7.13% | 3.47x | $484.63 Million |
| Fujian Expressway Development Co Ltd (600033) | $12.23 Billion | 3.70% | 0.32x | $626.53 Million |