Business Daily Media

The Times Real Estate

.

Yuexiu Transport recorded net profit of RMB 660 million with stable final dividend of 13 HK cents per share

HONG KONG SAR - Media OutReach Newswire - 13 March 2025 - Yuexiu Transport (01052) announced 2024 annual results and recorded revenue of RMB3,867 million. Profit attributable to shareholders was RMB657 million, representing a year-on-year decrease of 14.2%.

The drop in profit was mainly due to decline in revenue and the expiration of toll collection right of Northern Ring Road. Nonetheless, starting from May, the Wuhuang Expressway, which completes with the Han'e Expressway, underwent closure for reconstruction and expansion. The Company successfully has managed the traffic divseron from the Wuhuang Expressway. As a result, the average daily toll revenue of Han'e Expressway boasted a significant year-on-year increase of 58.1% during the Year, and brought an important contribution to the Company's overall toll revenue.

The Board has recommended the payment of a final dividend for 2024 of HK$0.13 per share. Together with the interim dividend of HK$0.12 per share paid, the total dividend for the full year of 2024 is HK$0.25 per share, equivalent to the annual dividend payout ratio of 58.5%.

In November 2024, Yuexiu Transport completed its acquisition of 55% equity interests in Henan Yuexiu Pinglin Expressway Company. The acquisition proved successful in the Company's expansion of asset portfolio, deepening of its strategic presence in Central China and the synergistic interaction between the incubation platform and the listed company platform. With geographical advantage and healthy profitability, Henan Pinglin Expressway delivered immediate positive profit contribution to the Company after consolidating the financial statement, which recorded an increase of RMB51 million in toll revenue and increase of RMB9 million in profit attributable to shareholders. The acquisition has provided growth momentum in Yuexiu Transport's future profit and enhanced shareholders' return. Moreover, the Company seized the opportunity to dispose 60% equity interests of Jinxiong Expressway by RMB190 million and realized a disposal gain of approximately RMB65 million, boosting its profit attributable to shareholders. Through the optimization of asset structure and management, the quality of the Company's assets has been further enhanced.

In 2024, the Company further optimized its debt structure through diverse measures. By the end of 2024, the weighted average financing rate of the Company was 2.72%, dropped by 0.52 percentage points compared to the end of 2023, and its debt duration was further extended. The optimized financial structure has further strengthened the Company's ability to effectively withstand risks and leverage opportunities for growth amid market votalility.

On 29 April 2024, the land for the GNSR Expressway R&E Project was approved by the Ministry of Natural Resources. Later, on 20 June, the construction permit was granted by the Department of Transport of Guangdong Province. With completed necessary pre-construction procedures, the R&E Project advanced to its next stage with construction currently in full swing and overall progress meeting expectations. The GNSR Expressway R&E Project will bolster the Company's most important revenue-generating asset, expand the scale of the Company's asset and is expected to extend the toll operating period, consolidating the Company's long-term profitability and enabling Yuexiu Transport to deepen its regional footprint in the Guangdong-Hong Kong-Macao Greater Bay Area.

Yuexiu Transport is committed to becoming a leading transport infrastructure asset management company in China under the guidance of the "3331" development strategy, which includes improving the three platforms (listed platform, REITs platform and incubation platform), enhancing the three core abilities (investment ability, operation and maintenance and construction management ability and capital operation ability) and focusing on three directions (expressway main business, key areas and expansion of related auxiliary businesses). The Company will continue to grasp the strategic opportunity period for expressway investment and mergers and acquisitions. Gaining its foothold in Guangdong-Hong Kong- Macau Greater Bay Area and Central and Eastern China, expanding its presence in other developing areas benefiting from continued urbanisation and industrialisation going forward, making full use of the incubation platform model and exploring opportunities of investing in reconstruction and expansion of quality assets, the Group insists on strengthening and expanding its infrastructure business mainly based on toll roads.Hashtag: #YuexiuTransport

The issuer is solely responsible for the content of this announcement.

News from Asia

Oliver Healthcare Packaging opens state-of-the art manufacturing facility in Johor to meet the needs of pharmaceutical and medical device companies in Asia-Pacific

The 120,000 square foot manufacturing facility is the largest of Oliver’s plants in the region SINGAPORE - Media OutReach Newswire - 15 May 2025 - Oliver Healthcare Packaging ("Oliver"), a leadin...

Tenchijin to Share Expertise in Satellite Data Applications at Penang Slush'D 2025

PENANG, MALAYSIA - Media OutReach Newswire - 15 May 2025 - Tenchijin Inc., a space-tech innovator based in Tokyo, will participate as a featured speaker at Penang Slush'D 2025, taking place from M...

Enabling Mindful Spending: DeCard by DCS and Visa Offers Secure, Frictionless, Real-World Utility — Micro Credit Card Fueled by Fiat or Digital Assets

Through its dual access to TradFi and Web3 and high-limit flexibility, DeCard gives consumers and businesses smarter ways to tap into what they have while managing their cashflow SINGAPORE - Media...

Harmful advice for traders: Octa broker's warnings

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 15 May 2025 - When navigating online trading recommendations, it's easy to come across information that goes against the grain of conventional fi...

Automakers focus on R&D and design investment as China's electric vehicle exports increase

GUANGZHOU, CHINA - Media OutReach Newswire - 15 May 2025 - The market size of new energy vehicles in China is expanding, and automakers are constantly carrying out innovative reforms. ...

Zeagoo Europe’s Mother’s Day Campaign Enters Final Days – Celebrate Confidence with Fashion

BERLIN, GERMANY - Media OutReach Newswire - 15 May 2025 - Zeagoo Europe’s Mother’s Day campaign, themed “Unwrap Confidence – A Present to You,” is now in its final stretch, running through May 20...

Hong Kong and Kuwait: Partnering for Success

Regional links enhanced and 24 bilateral accords reached HONG KONG SAR - Media OutReach Newswire - 15 May 2025 - A delegation of more than 50 business leaders from Hong Kong and Mainland China, le...

Celebrating Hearts at Home: Eden Grace’s Annual Award Ceremony Recognises Meaningful Partnerships

SINGAPORE - Media OutReach Newswire - 16 May 2025 - Eden Grace, a trusted maid agency dedicated to fostering strong and respectful relationships between domestic helpers and employers in Singapore...

LussoCitta and KrisShop Announce Retail Partnership Focused on Accessible Luxury

SINGAPORE - Media OutReach Newswire - 16 May 2025 - LussoCitta, a Singapore-based online platform selling branded and designer products, has entered a partnership with KrisShop, flagship omnichan...

Trading Amid Turbulence: Octa Broker's Guide to Navigating High-Volatility News Cycles

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 16 May 2025 - Today, financial markets no longer dance solely to the rhythm of macroeconomic data releases. Instead, they often lurch or rally in...

Deputy Unveils Enterprise-Grade Analytics+ to Power Smarter Workforce Decisions for Shift-Based Businesses

Deputy, the world’s leading workforce management platform for shift work, today announced the global launch of Deputy Analytics+, a next-generatio...

UNSW startup accelerator offers $200K to the next generation of Australian deeptech unicorns

UNSW Founders, Australia’s most recommended startup accelerator, has partnered with fund manager Luminary Partners to invest $200,000 each into 18...

The Future Is Now: AI Modernization Is Reshaping How Business Gets Done

The present business environment imposes stronger requirements on Australian organizations to match the fast-paced digital-first economy requireme...

Businesses losing an average of $493k from data integrity flaws

Managing data responsibly and effectively for the AI age can give organisations a strong competitive advantage, but many are failing to harness th...

AI shopping disruptor Zyft raises $7.5M to lead the next gen of retail tech

Zyft appoints new CEO, Richard Stevens, to lead the latest Waller Group success story, valued at $30 million SYDNEY, 28 April 2025: Zyft, the lea...

Little known law offers savvy Kiwis the opportunity to supercharge their retirement savings

A little-known legal amendment is being leveraged by savvy New Zealanders and expat Brits to supercharge their retirement savings. Not many peop...

Sell by LayBy