越秀交通基建：1H24 earnings down 27% YoY below our expectation; expect a better 2H24E

7 Aug 2024 CMB International Global Markets | Equity Research | Company Update Yuexiu Transport (1052 HK) 1H24 earnings down 27% YoY below our expectation; expect a better 2H24E Yuexiu Transport's net profit in 1H24 dropped 27% YoY to RMB314mn, 14% below our estimate. The miss was due to (1) lower-than-expected gross margin and (2) share of loss insured (RMB20mn) due to the expiration of concession right of Northern Ring Road starting from Mar 2024. Yuexiu Transport proposed interim dividend of HK$0.12/shar ...