Anhui Expressway Company (995) Q1 2026 earnings summary

Executive summary

• Operating income for Q1 2026 was RMB 1.57 billion, down 44.22% year-over-year, mainly due to a decrease in construction services revenue.

• Net profit attributable to shareholders was RMB 536 million, a decrease of 2.67% compared to Q1 2025.

• Weighted average return on equity increased by 0.78 percentage points to 4.10%.

Financial highlights

• Total assets at March 31, 2026, were RMB 31.56 billion, up 3.78% from year-end 2025.

• Owners' equity attributable to shareholders rose 4.33% to RMB 13.36 billion.

• Net cash flow from operating activities was RMB 713 million, down 18.09% year-over-year.

• Basic and diluted EPS were both RMB 0.3140, down 5.51% year-over-year.

Outlook and guidance

• Major investments in expressway reconstruction and expansion projects are ongoing, with significant capital allocated for future growth.

• Continued implementation of policy relief measures, including toll exemptions and reductions, is expected to impact revenue.