招商公路(001965) - 2023年5月8日投资者关系活动记录表

Group 1: Industry Overview - The transportation industry is experiencing a strong recovery, with road travel returning to 2019 levels in 2023 [2] - The implementation of national economic stabilization policies is expected to accelerate economic recovery, driving transportation demand back to normal growth [2] - The increase in vehicle ownership in recent years is a macroeconomic factor contributing to the continued recovery of highway traffic in 2023 [2] Group 2: Company Performance - In Q1 2023, the company achieved operating revenue of CNY 20.26 billion, a year-on-year increase of 16.30% [2] - The net profit attributable to shareholders reached CNY 13.49 billion, up 23.57% year-on-year, with a basic earnings per share of CNY 0.2109, reflecting a growth of 25.46% [2] - The company has distributed cash dividends totaling CNY 1.2 billion since its listing, emphasizing its commitment to shareholder returns [2] Group 3: Shareholder Returns - The company has set a dividend payout ratio of 55% in its 2022-2024 shareholder return plan, significantly increasing its dividend yield [2] - The focus remains on providing sustainable and stable returns to shareholders, with a commitment to maximizing shareholder value [2] Group 4: Future Projects and Initiatives - The company is actively promoting its REITs project to explore new operational models, aiming to create a new platform for investment and management [3] - The company plans to disclose major investment projects in accordance with regulatory rules, ensuring transparency [3] - The average remaining toll collection period for the company's road assets is approximately 15 years, indicating a leading position in the industry [3]