Huayu Expressway Group Limited (1823.HK) Q4 2024 Earnings Report

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Huayu Expressway Group

1823.HK

HKD1.250 6.84%

Exchange: HKSE | Sector: Industrials | Industry: Industrial Infrastructure Operations

Q4 2024

Published: Dec 31, 2024

Earnings Highlights

Revenue of $34.66M down 46.8% year-over-year
EPS of $-0.02 decreased by 95.3% from previous year
Gross margin of 14.9%
Net income of -10.22M
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1823.HK

Company 1823.HK

Period Q4 2024

Currency CNY

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

Huayu Expressway Group Limited reported a challenging QQ4 2024, reflecting ongoing profitability headwinds in its industrial infrastructure portfolio. Revenue for the quarter was 34,660,500 CNY with gross profit of 5,167,000 CNY, translating to a gross margin of 14.9%. The quarter delivered an operating loss of 10,821,000 CNY and a net loss of 10,216,000 CNY, with EBITDA of -1,316,000 CNY. The negative profitability extended to cash flow, as operating cash flow stood at -80,107,500 CNY and free cash flow was -131,530,500 CNY. YoY comparisons show material deterioration: revenue down 46.8%, gross profit down 63.4%, net income down 94.5%, and EPS down 95.3% (all vs. QQ4 2023). QoQ metrics were flat, indicating no sequential improvement in the quarter.

Key Performance Indicators

Revenue

Decreasing

34.66M

QoQ: 0.00% | YoY: -46.80%

Gross Profit

Decreasing

5.17M

14.91% margin

QoQ: 0.00% | YoY: -63.39%

Operating Income

Decreasing

-10.82M

QoQ: 0.00% | YoY: -1 203.73%

Net Income

Decreasing

-10.22M

QoQ: 0.00% | YoY: -94.48%

EPS

Decreasing

-0.02

QoQ: 0.00% | YoY: -95.28%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: 34,660,500 CNY; YoY change: -46.80%; QoQ change: 0.00%; Gross Profit: 5,167,000 CNY; Gross Margin: 14.90%; YoY Gross Profit change: -63.39%; QoQ: 0.00%; Operating Income: -10,821,000 CNY; YoY: -1203.73%; Operating Margin: -31.22%; QoQ: 0.00%; Net Income: -10,216,000 CNY; Net Margin: -29.47%; YoY: -94.48%; EPS: -0.0248 CNY; YoY: -95.28%; QoQ: 0.00%; EBITDA: -1,316,000 CNY; EBITDA Margin: approximately -3.80% (based on revenue); OCF: -80,107,500 CNY; Free Cash Flow: -131,530,500 CNY; Capex: -51,423,000 CNY; Cash and cash equivalents: 185,756,000 CNY; Total debt: 247,521,000 CNY; Net debt: 61,765,000 CNY; Current ratio: 3.04; Quick ratio: 1.378; Inventory: 390,608,000 CNY; DSO: 12.57 days; Days of Inventory Outstanding: 1,191.95 days; CCC: 1,204.52 days.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	34.66M	-46.80%	0.00%
Gross Profit	5.17M	-63.39%	0.00%
Operating Income	-10.82M	-1 203.73%	0.00%
Net Income	-10.22M	-94.48%	0.00%
EPS	-0.02	-95.28%	0.00%

Key Financial Ratios

Gross Profit Margin

Weak

14.90%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Weak

-0.31%

Operating margin is below industry norms, profitability concerns

Net Profit Margin

Weak

-0.30%

Net profit margin is below industry norms, profitability concerns

Return on Assets

Weak

-0.01%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

-0.01%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

3.04

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Moderate

0.33

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Negative

-5.03x

Negative earnings make P/E ratio not meaningful

Price to Book

Undervalued

0.27x

Trading below book value, potential value opportunity or distressed

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2025	37.92	-0.03	+118.8%	View
Q1 2025	37.92	-0.03	-41.1%	View
Q4 2024	34.66	-0.02	-46.8%	View
Q3 2024	34.66	-0.02	-46.8%	View

Huayu Expressway Group (1823.HK) Q4 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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