GPED(SZ:000429)2025-07-01 09:30Group 1: Company Overview - The company is Guangdong Provincial Highway Development Co., Ltd., with stock codes 000429 and 200429 for its A and B shares respectively [1] - The meeting was held on July 1, 2025, from 13:30 to 14:30 in the company conference room [1] Group 2: Impact of Infrastructure Changes - The opening of the Shenzhen-Zhongshan Channel will continue to affect the traffic distribution on the Jingzhu-Guangzhu East section in 2025, with the overall impact to be monitored and assessed [1] - The Guanghui Expressway is expected to have no new traffic distribution impacts in 2025, as the main factors affecting it were already reflected in 2024 [2] Group 3: Dividend Policy - The company disclosed a shareholder return plan for 2024-2026, stating that cash dividends should not be less than 70% of the net profit attributable to the parent company for the respective year [2] - The specific profit distribution plan for each year will be proposed by the board based on the company's annual profitability and future funding plans, and submitted for shareholder approval [2] Group 4: Capital Expenditure Plans - Recent capital expenditures are primarily focused on the expansion projects of controlled highways, including the ongoing expansions of Guangzhu East, Guanghui, Yuezhao, and Huishan highways [2] - The company will fund these projects according to their engineering progress to meet the financial needs of construction [2]