Zhejiang Expressway Co. Ltd. Class H · HKEX:576
Zhejiang Expressway Co. Ltd. Class H — FY2025 Earnings Presentation
30 slides from Zhejiang Expressway Co. Ltd. Class H's earnings presentation, Apr 9, 2026
Slide 1: 2025 Annual Results
股份代碼Stock Code: 0576.HK Stock Code: 0576 2025 Annual Results 1
Slide 2: Agenda
股份代碼Stock Code:0576.HK 单击此处编辑母版标题样式 Agenda 01 Result Highlights 02 Business Review Reconstruction and 03 Expansion Project 04 Outlook & Growth Strategies 05 Appendix 2026-4-9 2
Slide 3: Result Highlights
股份代碼Stock Code: 0576.HK Result Highlights 3
Slide 4: Result Highlights
Result Highlights 股份代碼Stock Code:0576.HK Result Highlights Rmb ’000 2025 2024 %Change Revenue 19,755,490 18,064,824 9.4% -- Including: Interest income under effective interest method 2,907,617 2,490,359 16.8% Operating costs (12,980,298) (10,812,360) 20.1% Gross profit 6,775,192 7,252,464 -6.6% Secu
Slide 5: Result Highlights – Revenue
Result Highlights– Revenue 股份代碼Stock Code:0576.HK Revenue 净利润走势 Revenue Breakdown Rmb million 25,000 Securities Business 19,755 38.2% 20,000 16,965 18,065 16,641 15,332 Toll Road Business 15,000 52.6% 10,000 5,000 0 Other Business 2021( 2 2 2024 2025 9.2% Resta 022(Resta 023 ted) t e d) Overall reve
Slide 6: Result Highlights – Net Profit
Result Highlights– Net Profit 股份代碼Stock Code:0576.HK Net 收益走势Profit Net Profit Breakdown Rmb million 9,000 7,864 7,156 6,303 6,622 5,980 Securities Business 6,000 Toll Road Business 35.8% 54.8% 3,000 0 Other Business 2021( 2 2 2024 2025 9.4% Resta 022(Resta 023 ted) ted) 2025 EPS (basic/diluted): Rm
Slide 7: Result Highlights – ROE & Dividend
Result Highlights–ROE & Dividend 股份代碼Stock Code:0576.HK ROE 净利润走势 Dividend % Rmb Cent 20.0 17.3 16.8 50 16.0 15.0 37.5 37.5 39.5 11.9 40 32 38.5 11.0 10.0 30 20 5.0 10 0.0 2021( 2 2 2024 2025 0 Resta022(Resta023 2021 2022 2023 2024 2025 t e d) t e d) To provide shareholders with stable return in the
Slide 8: Business Review
股份代碼Stock Code: 0576.HK Business Review 8
Slide 9: 2025 Market Review
2025 Market Review 股份代碼Stock Code:0576.HK Economy • China GDP growth: 5.0% y-o-y China’s economic operation was generally stable in steady progress； • Zhejiang GDP growth: 5.5% y-o-y Harnessing the Core Advantages of Digital Economy and Private Sector Economy to Diversify International Trade Markets
Slide 10: Toll Road Business
Toll Road Business 股份代碼Stock Code:0576.HK Various factors affected Positive factors： Negative factors : • Total import and export of goods in Zhejiang increased by • Traffic control caused by expansion of adjacent external road 5.5% y-o-y, effectively driving freight transportation demand; networks;
Slide 11: Toll Road Business – Daily Traffic Volume
Toll Road Business – Daily Traffic Volume 股份代碼Stock Code:0576.HK Shanghai-Hangzhou-Ningbo Expressway + 0.15% - 4.91% Hanghui Expressway 人民币 千元 Daily Average Traffic Volume: 91,379 Daily Average Traffic Volume: 27,693 130,000 40,000 2025 90,000 股东回报率走势 2024 30,000 2025 2024 50,000 2023 20,000 2023 20
Slide 12: Toll Road Business – Daily Traffic Volume
Toll Road Business – Daily Traffic Volume 股份代碼Stock Code:0576.HK + 5.50% LongLiLiLong Expressways 人民币 千元 Daily Average Traffic Volume: 16,803 26,000 19,000 股东回报率走势 2025 2024 12,000 2023 2022 5,000 1 2 3 4 5 6 7 8 9 10 11 12 - 5.66% Zhajiasu Expressway 人民币 千元 Daily Average Traffic Volume: 40,815 50,0
Slide 13: Securities Business
Securities Business 股份代碼Stock Code:0576.HK • Securities business recorded revenue of RMB 7,550.61million, up 22.1% y-o-y; • Of which, commission and fee income was RMB 4,643.00 million, up 25.8% y-o-y; interest income from securities business was RMB 2907.62 million, up 16.8% y-o-y; • Securities inv
Slide 14: Long-term Investments
Long-term Investments 股份代碼Stock Code:0576.HK Expressway 高速板块 Section Finance Section 金融板块 Zhejiang Shaoxing Shengxin Expressway Co., Ltd. Zhejiang Zheshang Transform and Upgrade Fund Average daily traffic volume:32,956 vehicles, up 6.30% of Funds Partnership (Limited Partnership) y-o-y; Primarily en
Slide 15: Investment, M & A—— Yonglan Expressway
Investment, M & A——Yonglan Expressway 股份代碼Stock Code:0576.HK Yonglan Expressway, 145 km, a segment of the national highway G55(Erenhot - Guangzhou Expressway) located in Yongzhou, Hunan Province, is an important part of the main framework of Hunan's “Five Verticals and Seven Horizontals“ expressway
Slide 16: Investment, M & A—— Guisan Expressway
Investment, M & A—— Guisan Expressway 股份代碼Stock Code:0576.HK The Guisan Expressway, 135km, is an important part of the national expressway G76 (Xiamen-Chengdu Expressway), and 92 kilometers of it also shares the same route with the national expressway G65 (Baotou-Maoming Expressway), serves as one o
Slide 17: Investment, M & A—— Ningbo-Zhoushan Expressway Parallel Line Phase II
Investment, M & A—— Ningbo-Zhoushan Expressway Parallel Line Phase II 股份代碼Stock Code:0576.HK Strategic Positioning: an important project for the construction of Zhejiang Province‘s Greater Bay Area and Ningbo-Zhoushan integration and China (Zhejiang) Free Trade Pilot Zone; Insufficient capacity of e
Slide 18: Reconstruction and Expansion Project
股份代碼Stock Code: 0576.HK Reconstruction and Expansion Project 18
Slide 19: Toll Road Business — Overview of Reconstruction and expansion project
Toll Road Business— Overview of Reconstruction and expansion project 股份代碼Stock Code:0576.HK Ningbo-Jinhua Zhajiasu Expressway Expressway Toll Road Nanhu Jinhua Shaoxing Interchange to Section Section Provincial Border Mileage 69.7km 73.3km 25.2km RMB RMB Investment RMB 7.296 bill 15.905 bill 12.747
Slide 20: Toll Road Business — Progress of Reconstruction and Expansion Project
Toll Road Business— Progress of Reconstruction and Expansion Project 股份代碼Stock Code:0576.HK Ningbo-Jinhua Ningbo-Jinhua Zhajiasu Expressway Toll Road Expressway Expressway Nanhu Interchange Jinhua Section Shaoxing Section to Provincial Border Method Four to eight Four to eight Four to eight Start ti
Slide 21: Outlook & Growth Strategies
股份代碼Stock Code: 0576.HK Outlook & Growth Strategies 21
Slide 22: Outlook
Outlook 股份代碼Stock Code:0576.HK Market situation Sustained and stable growth of the economy 2026, the fundamental trend for long- in China and Zhejiang Province, along with term growth of China’s economy remain the enhanced development momentum, it unchanged. With the coordinated efforts has provided
Slide 23: Growth Strategies
Growth Strategies 股份代碼Stock Code:0576.HK Technological Empowerment Market capitalization management • Explore autonomous driving and “unmanned truck • Push forward with capital operation for A- formation” to improve road network efficiency； share listing to facilitate valuation recovery; • Strengthe
Slide 24: Q&A
股份代碼Stock Code:0576.HK Q&A 24
Slide 25: Appendices
股份代碼Stock Code: 0576.HK Appendices 25
Slide 26: Appendix I: Company Profile
Appendix I: Company Profile 股份代碼Stock Code:0576.HK About Zhejiang Expressway 0576.HK Zhejiang Expressway is a listed company principally engaging in investing in, developing and operating of high-grade roads as well as securities business. The Company was incorporated on March 1, 1997 ,and listed on
Slide 27: Appendix II: Major Corporate Events
Appendix II: Major Corporate Events 股份代碼Stock Code:0576.HK “Benchmarking Enterprises in the Management Awarded the "Corporate Governance Golden Bull Award" Benchmarking Action of Key State-owned Enterprises ” of “ Best Investment Value Listed Company” and “ Listed (for listed companies in Hong Kong)
Slide 28: Appendix III: Statement of Financial Position
Appendix III : Statement of Financial Position 股份代碼Stock Code:0576.HK 2025 2024 %Change %增长率 Bank balances, clearing settlement fund, deposits and cash 41,181.41 32,363.94 27.2% Financial assets at fair value through profit or loss 50,479.96 36,022.57 40.1% Total assets 293,412.91 217,182.37 35.1% T
Slide 29: Appendix IV: Organization Chart
Appendix IV: Organization Chart 股份代碼Stock Code:0576.HK Zhejiang Expressway Co., Ltd. As of 31 March 2026 0576.HK Huihang Co Hanghui Co Jinhua Co Zhajiasu Co Zhoushan Co Shangsan Co Shenjiahuhang HangNing Co Wenzhou Co YongTaiWen Co 100% 51% 100% 55% 51% 61.25% 20% 30% 15% Yangtze Shengxin Co SRCB Fi
Slide 30: Appendix V: Expressway Map of Zhejiang Province
Appendix V: Expressway Map of Zhejiang Province 股份代碼Stock Code:0576.HK 30