Financial Summary The company's H1 2025 financial performance shows revenue and profit growth, with a slight decrease in total assets and an increase in net assets per share H1 2025 Performance Highlights | Metric | Amount (RMB) | Y-o-Y Change (%) | | :--- | :--- | :--- | | Revenue | 2.10 billion yuan | 14.9 | | Gross Profit | 982 million yuan | 7.2 | | Gross Profit Margin | 46.8% | -3.3 percentage points | | Operating Profit | 851 million yuan | 7.6 | | Profit Before Income Tax | 716 million yuan | 12.8 | | Profit Attributable to Equity Holders of the Company | 361 million yuan | 14.9 | | Basic Earnings Per Share | 0.2156 yuan | 14.9 | | Total Assets (vs. end 2024) | 37.38 billion yuan | -0.3 | | Net Assets Per Share Attributable to Shareholders (vs. end 2024) | 7.18 yuan | 0.3 | Five-Year Financial Summary This section provides a five-year overview of the company's income statement, balance sheet, and key financial ratios Income Statement (For the six months ended June 30) | (RMB thousand yuan) | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 2,099,133 | 1,826,884 | 1,935,448 | 1,615,538 | 1,831,743 | | Profit Attributable to Equity Holders of the Company | 360,764 | 313,938 | 427,106 | 295,318 | 467,699 | | Basic Earnings Per Share | RMB 0.2156 | RMB 0.1876 | RMB 0.2553 | RMB 0.1765 | RMB 0.2795 | Financial Position (Period-end) | (RMB thousand yuan) | June 30, 2025 | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets | 37,379,135 | 37,506,791 | 36,502,458 | 36,337,410 | 35,661,108 | | Total Liabilities | 21,633,700 | 22,100,654 | 21,652,521 | 22,102,435 | 21,188,359 | | Equity | 15,745,435 | 15,406,137 | 14,849,937 | 14,234,975 | 14,472,749 | | Net Assets Per Share Attributable to Equity Holders of the Company | RMB 7.18 | RMB 7.08 | RMB 6.94 | RMB 6.71 | RMB 6.88 | Financial Ratios (Period-end) | Metric | June 30, 2025 | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Return on Equity Attributable to Equity Holders of the Company (Annualized) | 6.01% | 5.54% | 6.59% | 4.03% | 12.73% | | Interest Coverage Ratio (EBITDA) | 8.5x | 6.9x | 6.4x | 4.7x | 4.6x | | Capital Gearing Ratio | 48.5% | 50.0% | 49.5% | 51.4% | 48.5% | | Total Liabilities/Total Assets Ratio | 57.9% | 58.9% | 59.3% | 60.8% | 59.4% | Company Profile The company primarily invests in, constructs, operates, and manages toll roads and bridges in China, with 16 projects and approximately 607.7 km of attributable toll mileage - Yuexiu Transport Infrastructure Limited and its subsidiaries primarily engage in the investment, construction, development, operation, and management of expressways and bridges in Guangdong Province and other high-growth provinces in China22 - As of June 30, 2025, the Group has invested in and operates 16 toll road, bridge, and port projects, with an attributable toll mileage of approximately 607.7 km2324 - Guangzhou Northern Ring Expressway's toll collection expired on March 22, 2024, and the project handover to the government is in progress23 Project Location Map This section illustrates the geographical locations and basic information of the Group's expressway, bridge, and port projects across various provinces - The report provides detailed geographical locations and basic information for the Group's invested and operated expressways, bridges, and port projects in provinces such as Henan, Hubei, Hunan, Guangxi, and Guangdong, including toll mileage, number of lanes, and connecting road networks272829 - Guangzhou Northern Ring Expressway's toll collection expired at 24:00 on March 22, 2024, with project handover to the government currently underway33 - Pazhou Port and Macau Passenger Terminal currently has 5 berths and 2 passenger ships, operating two routes between Pazhou and Hong Kong city center and Hong Kong Airport42 Management Discussion and Analysis This section provides an in-depth review of the company's operational and financial performance, along with future outlook and strategic initiatives Business Review In H1 2025, most of the Group's projects saw year-on-year growth in average daily toll traffic and revenue, driven by increased travel and a lower base in the prior period, while some projects experienced revenue decline due to parallel road competition, with the Group continuously advancing lean management, revenue diversification, service quality enhancement, and innovative technology application Summary of Operating Toll Roads, Bridges, and Ports This section outlines basic information for the Group's 16 operating toll road, bridge, and port projects, including toll mileage, number of lanes, attributable equity, and toll expiry dates, also noting adjustments to toll periods and new toll station openings for some projects - The Group completed the acquisition of a 55% equity stake in Henan Pinglin Expressway on November 26, 202471 - Toll periods for projects in Guangdong Province are expected to be extended due to the toll exemption policy during the COVID-19 pandemic, while Guangzhou Northern Ring Expressway's toll collection expired on March 22, 2024, and is being handed over to the government71 - Hubei Hancai Expressway's Caidian toll station opened in June 2025, and Hubei Daguanan Expressway's Huangshi toll station opened in January 2025, extending its toll mileage to 109.7 km71 [Toll Road, Bridge, and Port Project Toll Summary](index=18&type=section&id=%E6%94%B6%E8%B2%BB%E5%85%AC%E8%B7%AF%E3%80%81%E6%A9%8B%E6%A8%91%E3%80%81%E7%A2%BC%E9%A0%AD%E9%A0%85%E7%9B%AE%E6%94%B6%E8%
越秀交通基建(01052) - 2025 - 中期财报