Guangdong Provincial Expressway Development Co Ltd (200429) - Net Assets

Latest as of March 2026: HK$14.69 Billion HKD ≈ $1.87 Billion USD

Based on the latest financial reports, Guangdong Provincial Expressway Development Co Ltd (200429) has net assets worth HK$14.69 Billion HKD (≈ $1.87 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (HK$28.27 Billion ≈ $3.61 Billion USD) and total liabilities (HK$13.58 Billion ≈ $1.73 Billion USD). 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. Check Guangdong Provincial Expressway Developm (200429) tangible net worth to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	HK$14.69 Billion
% of Total Assets	51.96%
Annual Growth Rate	8.96%
5-Year Change	34.15%
10-Year Change	71.73%
Growth Volatility	14.47

Guangdong Provincial Expressway Development Co Ltd - Net Assets Trend (1994–2025)

This chart illustrates how Guangdong Provincial Expressway Development Co Ltd's net assets have evolved over time, based on quarterly financial data. See Guangdong Provincial Expressway Developm (200429) liquidity interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Guangdong Provincial Expressway Development Co Ltd (1994–2025)

The table below shows the annual net assets of Guangdong Provincial Expressway Development Co Ltd from 1994 to 2025. For live valuation and market cap data, see market value of Guangdong Provincial Expressway Developm.

Year	Net Assets	Change
2025-12-31	HK$15.19 Billion ≈ $1.94 Billion	+15.09%
2024-12-31	HK$13.20 Billion ≈ $1.68 Billion	+6.34%
2023-12-31	HK$12.41 Billion ≈ $1.58 Billion	+9.15%
2022-12-31	HK$11.37 Billion ≈ $1.45 Billion	+0.42%
2021-12-31	HK$11.32 Billion ≈ $1.45 Billion	+10.64%
2020-12-31	HK$10.23 Billion ≈ $1.31 Billion	-0.18%
2019-12-31	HK$10.25 Billion ≈ $1.31 Billion	+2.03%
2018-12-31	HK$10.05 Billion ≈ $1.28 Billion	+6.26%
2017-12-31	HK$9.45 Billion ≈ $1.21 Billion	+6.90%
2016-12-31	HK$8.84 Billion ≈ $1.13 Billion	+44.30%
2015-12-31	HK$6.13 Billion ≈ $782.32 Million	+4.38%
2014-12-31	HK$5.87 Billion ≈ $749.46 Million	+16.19%
2013-12-31	HK$5.05 Billion ≈ $645.00 Million	-1.17%
2012-12-31	HK$5.11 Billion ≈ $652.63 Million	+7.50%
2011-12-31	HK$4.76 Billion ≈ $607.09 Million	-0.92%
2010-12-31	HK$4.80 Billion ≈ $612.74 Million	+19.60%
2009-12-31	HK$4.01 Billion ≈ $512.33 Million	+5.37%
2008-12-31	HK$3.81 Billion ≈ $486.21 Million	+0.80%
2007-12-31	HK$3.78 Billion ≈ $482.35 Million	-13.70%
2006-12-31	HK$4.38 Billion ≈ $558.89 Million	+3.04%
2005-12-31	HK$4.25 Billion ≈ $542.38 Million	-2.64%
2004-12-31	HK$4.36 Billion ≈ $557.09 Million	+1.90%
2003-12-31	HK$4.28 Billion ≈ $546.71 Million	+6.49%
2002-12-31	HK$4.02 Billion ≈ $513.41 Million	+2.17%
2001-12-31	HK$3.94 Billion ≈ $502.53 Million	+16.73%
2000-12-31	HK$3.37 Billion ≈ $430.50 Million	+32.34%
1999-12-31	HK$2.55 Billion ≈ $325.31 Million	+8.62%
1998-12-31	HK$2.35 Billion ≈ $299.48 Million	+34.51%
1997-12-31	HK$1.74 Billion ≈ $222.65 Million	+2.83%
1996-12-31	HK$1.70 Billion ≈ $216.53 Million	+57.80%
1995-12-31	HK$1.07 Billion ≈ $137.22 Million	+1.16%
1994-12-31	HK$1.06 Billion ≈ $135.64 Million	--

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 26072.8% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	HK$6.12 Billion	55.04%
Common Stock	HK$2.09 Billion	18.81%
Other Comprehensive Income	HK$2.36 Billion	21.22%
Other Components	HK$549.04 Million	4.94%
Total Equity	HK$11.12 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
China Merchants Port Group Co Ltd SHE:201872	$435.40 Million
Alandsbanken Abp B HE:ALBBV	$435.57 Million
GHCL Limited NSE:GHCL	$435.73 Million
Nepes Ark Corp. KQ:330860	$435.97 Million
Csd Water Service Co Ltd SHG:603903	$435.26 Million
AdvanSix Inc NYSE:ASIX	$435.20 Million
Suzhou Weizhixiang Food Co. Ltd. SHG:605089	$435.18 Million
Doubleview Gold Corp V:DBG	$435.01 Million

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 2024 to 2025, total equity changed from 10,468,100,319 to 11,120,856,713, a change of 652,756,394 (6.2%).
Net income of 1,801,337,614 contributed positively to equity growth.
Dividend payments of 1,065,190,829 reduced retained earnings.
Other comprehensive income increased equity by 2,359,656,449.
Other factors decreased equity by 2,443,046,840.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	HK$1.80 Billion	+16.2%
Dividends Paid	HK$1.07 Billion	-9.58%
Other Comprehensive Income	HK$2.36 Billion	+21.22%
Other Changes	HK$-2.44 Billion	-21.97%
Total Change	HK$-	6.24%

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: 1.84x
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 12.45x to 1.84x 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$9.78	x
1995-12-31	HK$0.82	HK$9.78	x
1996-12-31	HK$1.30	HK$9.78	x
1997-12-31	HK$1.34	HK$9.78	x
1998-12-31	HK$1.80	HK$9.78	x
1999-12-31	HK$1.95	HK$9.78	x
2000-12-31	HK$2.61	HK$9.78	x
2001-12-31	HK$2.65	HK$9.78	x
2002-12-31	HK$2.68	HK$9.78	x
2003-12-31	HK$2.81	HK$9.78	x
2004-12-31	HK$2.87	HK$9.78	x
2005-12-31	HK$3.01	HK$9.78	x
2006-12-31	HK$3.11	HK$9.78	x
2007-12-31	HK$2.61	HK$9.78	x
2008-12-31	HK$2.68	HK$9.78	x
2009-12-31	HK$2.82	HK$9.78	x
2010-12-31	HK$3.42	HK$9.78	x
2011-12-31	HK$3.23	HK$9.78	x
2012-12-31	HK$3.40	HK$9.78	x
2013-12-31	HK$3.32	HK$9.78	x
2014-12-31	HK$3.93	HK$9.78	x
2015-12-31	HK$2.99	HK$9.78	x
2016-12-31	HK$4.31	HK$9.78	x
2017-12-31	HK$4.30	HK$9.78	x
2018-12-31	HK$4.57	HK$9.78	x
2019-12-31	HK$4.70	HK$9.78	x
2020-12-31	HK$3.84	HK$9.78	x
2021-12-31	HK$4.28	HK$9.78	x
2022-12-31	HK$4.34	HK$9.78	x
2023-12-31	HK$4.70	HK$9.78	x
2024-12-31	HK$5.03	HK$9.78	x
2025-12-31	HK$5.31	HK$9.78	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): 16.20%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 40.30%
• Asset Turnover: 0.17x
• Equity Multiplier: 2.41x
Recent ROE (16.20%) is above the historical average (10.44%), 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	13.36%	26.19%	0.22x	2.32x	HK$175.17 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	14.96%	29.39%	0.28x	1.80x	HK$486.84 Million
2020	10.94%	22.90%	0.19x	2.49x	HK$74.53 Million
2021	18.93%	32.16%	0.28x	2.10x	HK$802.16 Million
2022	14.06%	30.62%	0.21x	2.23x	HK$368.75 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
2025	16.20%	40.30%	0.17x	2.41x	HK$689.25 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: $7,166,898,694
Average return on equity (ROE) among peers: 10.73%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Guangdong Provincial Expressway Development Co Ltd (200429)	HK$14.69 Billion	11.90%	0.92x	$435.40 Million
Guangdong Provincial Expressway Development Co Ltd (000429)	$4.02 Billion	4.25%	0.53x	$3.46 Billion
Shanxi Sanwei Group Co Ltd (000755)	$1.16 Billion	-4.33%	5.98x	$968.36 Million
Dongguan Development Holdings Co Ltd (000828)	$575.54 Million	54.14%	2.67x	$1.46 Billion
City Development Environment Co Ltd (000885)	$2.26 Billion	2.94%	1.30x	$1.18 Billion
Xiandai Investment Co Ltd (000900)	$14.21 Billion	3.82%	3.00x	$804.02 Million
Merchant Express Class A (001965)	$25.48 Billion	9.67%	0.60x	$9.76 Billion
Shandong Sunway Petrochemical Engineering Co Ltd (002469)	$2.87 Billion	9.16%	0.26x	$610.52 Million
Xinjiang Communications Construction Group Co Ltd Class A (002941)	$5.02 Billion	6.37%	2.96x	$1.13 Billion
Anhui Expressway Co Ltd (600012)	$8.91 Billion	10.53%	0.36x	$2.78 Billion

About Guangdong Provincial Expressway Development Co Ltd

SHE:200429 China Infrastructure Operations

Market Cap

$435.40 Million

HK$3.41 Billion HKD

Market Cap Rank

#13132 Global

#3922 in China

Share Price

HK$9.78

Change (1 day)

-0.31%

52-Week Range

HK$8.00 - HK$9.81

All Time High

HK$9.81