Core Viewpoint - The stock of Guangdong Expressway Development Co., Ltd. (粤高速A) has experienced a decline of 19.52% year-to-date, with recent trading showing a slight recovery in the last five days, but overall performance remains weak [1][2]. Financial Performance - For the first half of 2025, the company reported a revenue of 2.118 billion yuan, a year-on-year decrease of 5.06%, while the net profit attributable to shareholders increased by 23.58% to 1.057 billion yuan [2]. - Cumulative cash dividends since the company's listing amount to 11.272 billion yuan, with 3.132 billion yuan distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 7.44% to 56,500, with an average of 0 shares per shareholder [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 2.6472 million shares to 16.3944 million shares [3].

Group 1 - COSCO Shipping Holdings announced the establishment of a joint venture company, Shenzhen COSCO Shipping Smart Supply Chain Co., Ltd., with a total registered capital of RMB 1 billion [1] - The investment amounts from the parties involved are RMB 370 million from COSCO Shipping (Hong Kong), RMB 300 million from Guangzhou COSCO Shipping Logistics, RMB 230 million from Shenzhen Port Logistics Group, and RMB 100 million from China Communications Construction Company [1] - The joint venture will focus on various logistics services including loading and unloading, general warehousing, cold storage, international freight forwarding, and supply chain comprehensive services [1] Group 2 - COSCO Shipping Holdings aims to enhance its integrated supply chain operation system by focusing on container shipping, ports, and related logistics, driven by customer demand [2] - The project is expected to serve as a logistics hub for cargo around Yantian Port, providing high-standard warehouses and multifunctional logistics parks, thus supporting the integration of regional service and advanced manufacturing industries [2] - This initiative will strengthen the company's strategic layout in the Pearl River Delta region and serve as a core infrastructure for expanding digital supply chain business scale [2]