Shandong Hi-speed Co Ltd (600350) Fair Value & Analysis
Industrials · CN · Market cap 52.5B CNY (≈ $7.8B) · ISIN CNE0000019Y2
What is Shandong Hi-speed Co Ltd really worth?
A solid business, but trading 17% above our fair value of ¥8.68.
Strengths
Risks
For context
Fair value as of: Aug 26, 2026
From 24 valuation models · updated 10 days ago
Share price −5.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.
How to read this chart
60‑month range ¥4.37 – ¥13.49 · fair‑value band ¥7.97 – ¥13.95 · the ¥10.17 price screens above the ¥8.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 26, 2026.
Analysis
Shandong Hi-speed Co Ltd (600350) currently trades at ¥10.17, while our model-based Fair Value estimate is ¥8.68, implying the stock looks roughly 17.2% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ¥13.28 per share, and 8 of the 18 models we run sit above the ¥10.17 price. Bear case: the DCF Models group reads lowest at ¥4.98, and 10 of the 18 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Shandong Hi-speed Co Ltd generated revenue of 24.1B CNY at a net margin of 13.4%. Revenue grew 3.6% year over year. It earns a return on equity of 6.8%. Net debt stands at 58.7B CNY. Fundamentals as of Aug 26, 2026
Our scenario range runs from ¥7.97 (bear case) to ¥13.95 (bull case); at ¥10.17, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 9% fair-value upside, at −15%, 600350 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.0883 per share, which is 1.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth Earnings (¥13.28) versus Economic Profit (¥0.0200). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 53
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Shandong Hi-speed Company Limited engages in the investment and operation of transportation infrastructure in China. The company operates and manages road and bridge assets.
Full company description
Shandong Hi-speed Company Limited engages in the investment and operation of transportation infrastructure in China. The company operates and manages road and bridge assets. It is also involved in reconstruction and expansion of bridges, underpasses, grade-separated interchanges, overpasses, culverts, service areas, parking area, and toll stations, as well as expressway. The company was formerly known as Shandong Expressway Company Limited and changed its name to Shandong Hi-speed Company Limited in April 2012. Shandong Hi-speed Company Limited was founded in 1999 and is headquartered in Jinan, China. Shandong Hi-speed Company Limited is a subsidiary of Shandong High-Speed Group Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shandong Hi-speed Co Ltd reported revenue of 23.9B CNY in FY2025 versus 16.2B CNY in FY2021, a compound +10.2%/yr. Reported net income was 3.2B CNY in FY2025, compounding +1.2%/yr from FY2021.
of which total revenue +16.7 % · buybacks/dilution −2.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
Peer Group
Infrastructure Operations · 64 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Infrastructure Operations median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Infrastructure Operations stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Merchants Expressway Network & Technology Holdings 001965 | ¥9.36 | ¥10.25 | +10% |
| Jiangsu Expressway Company 600377 | ¥12.01 | ¥14.47 | +20% |
| Zhejiang Expressway Co 0576 | HK$6.31 | HK$18.50 | +193% |
| Guangdong Provincial Expressway Development Co 000429 | ¥13.04 | ¥13.79 | +6% |
| Anhui Expressway Company 600012 | ¥16.15 | ¥14.90 | −8% |
| Shenzhen Expressway Corporation 600548 | ¥8.37 | ¥9.16 | +9% |
| IRB Infrastructure Developers Limited IRB | ₹18.95 | ₹14.79 | −22% |
| Sichuan Expressway Company 601107 | ¥5.53 | ¥5.73 | +4% |
| CUBEINVIT CUBEINVIT | ₹159.18 | ₹33.83 | −79% |
| PT Jasa Marga (Persero) Tbk JSMR | 2,740 IDR | 7,830 IDR | +186% |
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