Yuexiu Transport recorded net profit of RMB 660 million with stable final dividend of 13 HK cents per share
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.
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Miami Herald
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Miami Herald
6 minutes ago
- Miami Herald
Inspire Veterinary Partners Announces up to $10M in Financing at $1.00 per Share Through Cash and Transferred Securities
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