GPED(SZ:000429)2022-12-06 10:41Group 1: Financial Performance - The company's operating cost increased by 2.81%, significantly lower than the operating revenue growth of 5.63% [2] - Operating costs are primarily composed of road asset depreciation and maintenance expenses, which are expected to rise with increased revenue [2] - Maintenance costs are anticipated to be concentrated in the fourth quarter, leading to higher expenses compared to the average of the first three quarters [2] Group 2: Project Updates - The total investment for the expansion of the southern section of the Fokai Expressway is estimated at approximately 1.2 billion RMB, with construction expected to start by the end of 2016 and a four-year construction period [2] - The company believes that the expansion will not affect the planned dividend distribution [2] Group 3: Regulatory and Market Impact - The impact of the delay in the Guangfo Expressway on the company's performance is currently indeterminate due to pending negotiations and approvals [3] - The implementation of a weight-based toll system since June 2015 has led to a noticeable improvement in overloading issues, positively affecting highway operations [3] Group 4: Financial Management - The company has seen a decline in financial expenses over the past two years, with existing debts being repaid without new projects [3] - Investments in Everbright Bank and Guoyuan Securities are accounted for using the cost method, affecting shareholder equity rather than current profits [3]