Core Viewpoint - Chengdu Expressway reported a decline in net profit for the fiscal year 2024, indicating challenges in revenue generation despite a slight increase in overall income [1][2]. Financial Performance - The company achieved a total revenue of 2.915 billion yuan, reflecting a year-on-year increase of 0.74% [1]. - The net profit attributable to shareholders was 520 million yuan, representing a year-on-year decrease of 16.04% [1]. - Basic earnings per share were reported at 0.31 yuan, with a proposed final cash dividend of 0.101 yuan per share [1]. Revenue Breakdown - The primary source of revenue for the expressway business was toll income, which accounted for 88.9% of the total expressway business revenue [2]. - Toll income for the expressway business was 1.433 billion yuan, showing a decrease of 37.6836 million yuan, or a decline of 2.6% year-on-year [2]. Factors Affecting Revenue - Several factors contributed to the decline in toll income: - Insufficient domestic economic demand and extreme weather conditions negatively impacted traffic volume and toll revenue [2]. - Increased free passage days during the Spring Festival and Qingming Festival compared to the previous year led to reduced toll income [2]. - The full closure of the G5 Jingkun (Chengmian section) during 2023 diverted traffic to Chengpeng Expressway, which did not benefit in 2024 [2]. - Implementation of differentiated toll discounts for trucks in Sichuan province from April 1, 2024, to December 31, 2024, resulted in reduced toll income across expressways [2]. - Construction restrictions on Qiongming Expressway led to decreased traffic and toll revenue [2]. - The opening of Chengdu Metro Line 19 and the extension of Line 10, along with internal construction at Shuangliu Airport, reduced traffic and toll income on the Chengdu Airport Expressway [2].
成都高速发布年度业绩 归母净利润5.2亿元 同比减少16.04%