Core Viewpoint - Bay Area Development (00737) reported a revenue of 371 million RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 17.14% [1] - The company's profit attributable to equity shareholders was 234 million RMB, a decrease of 2.74% year-on-year, with basic earnings per share at 7.59 cents [1] Revenue Performance - The operational performance of the Guangzhou-Shenzhen Expressway, Guangzhou-Zhuhai West Line Expressway, and the Jiangjiang Expressway (Shenzhen section) varied significantly due to changes in surrounding road networks affecting toll revenue and traffic volume [1] - The average daily toll revenue for the Guangzhou-Shenzhen Expressway decreased by 3% year-on-year to approximately 7.5 million RMB, while the average daily mixed traffic volume increased by 3% to about 623,000 vehicles [1] - The average daily toll revenue for the Guangzhou-Zhuhai West Line Expressway fell by 12% year-on-year to around 3.01 million RMB, with the average daily mixed traffic volume also increasing by 3% to approximately 260,000 vehicles [1] - The average daily toll revenue and mixed traffic volume for the Jiangjiang Expressway (Shenzhen section) grew by 22% and 18% year-on-year, reaching about 2.05 million RMB and 213,000 vehicles, respectively [1] Net Toll Revenue Breakdown - The total net toll revenue amounted to approximately 1.254 billion RMB, with significant growth in toll revenue for the Jiangjiang Expressway (Shenzhen section) attributed to the simultaneous opening of the Jiangjiang Phase II and the Shenzhen-Zhongshan Channel in June 2024, as well as the end of truck toll adjustments starting January 2025 and the opening of the Mawan Tunnel [1] - The Guangzhou-Shenzhen Expressway and Guangzhou-Zhuhai West Line Expressway experienced negative diversion effects due to the further improvement of surrounding expressway networks [1]