Core Viewpoint - The controlling shareholder of Zhongyuan Expressway successfully completed its first share buyback plan, reflecting confidence in the company's value and future development [2][4][6]. Group 1: Share Buyback Details - From November 20, 2024, to May 20, 2025, the controlling shareholder, Henan Transportation Investment Group, increased its stake by 38.69 million shares, accounting for 1.72% of the total share capital, with a total investment of 160 million yuan [2][4]. - This buyback is the first since Zhongyuan Expressway's listing in 2003, aimed at boosting investor confidence and ensuring the company's stable development [2][4][6]. - Prior to the buyback, the controlling shareholder held 1.013 billion shares, representing 45.09% of the total share capital [4]. Group 2: Financial Performance - In 2024, Zhongyuan Expressway reported operating revenue of 6.969 billion yuan, a year-on-year increase of 22.2%, and a net profit of 880 million yuan, up 6.27% [2][10]. - The company faced a decline in toll revenue, which fell by 1.459 billion yuan, or 3.45%, due to adverse weather and increased holiday traffic [9][10]. - Investment income surged to 331 million yuan, marking a significant increase of 158.8% [9][10]. Group 3: Dividend Policy - Since its listing, Zhongyuan Expressway has distributed a total of 4.233 billion yuan in cash dividends (tax included) [3][11]. - The company plans to maintain a dividend payout ratio of no less than 40% over the next three years, with a proposed cash dividend of 1.7 yuan per 10 shares for the 2024 fiscal year [3][11].