Ge Long Hui·2026-03-29 11:54Core Viewpoint - Jiangsu Ninghu Expressway (00177.HK) reported a decline in revenue and net profit for the year, with total assets projected to reach approximately RMB 96.39 billion by the end of 2025, indicating a challenging financial environment [1] Financial Performance - As of the end of 2024, the company's total assets are expected to be approximately RMB 89.89 billion, while net assets attributable to shareholders are projected to be around RMB 41.44 billion, up from RMB 38.60 billion in 2024 [1] - The company achieved an annual operating revenue of approximately RMB 20.29 billion, a year-on-year decrease of about 12.54%, with revenue excluding construction income at approximately RMB 12.13 billion, down about 1.61% year-on-year [1] - The total profit for the period was approximately RMB 6.11 billion, a decrease of about 3.34% compared to RMB 6.32 billion in 2024, while net profit attributable to shareholders was approximately RMB 4.59 billion, down about 7.13% from RMB 4.95 billion in 2024 [1] - Earnings per share were reported at RMB 0.9119, compared to RMB 0.9819 in 2024 [1] - Operating net cash flow was approximately RMB 6.76 billion, an increase from RMB 6.32 billion in 2024 [1] - The weighted average return on equity was 11.48%, down from 13.63% in 2024 [1]