Anhui Expressway Company (995) Q3 2024 earnings summary

Executive summary

• Operating income for Q3 2024 was RMB 1.99 billion, down 1.47% year-over-year; YTD income reached RMB 5.04 billion, up 16.10% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 411 million, down 19.57% year-over-year; YTD net profit was RMB 1.22 billion, down 9.60% year-over-year.

• Total assets at quarter-end were RMB 22.82 billion, up 4.95% from year-end 2023.

Financial highlights

• Basic and diluted EPS for Q3 were RMB 0.2479, down 19.57% year-over-year; YTD EPS was RMB 0.7362, down 9.60%.

• Weighted average return on equity for Q3 was 3.24%, down 0.99 percentage points year-over-year.

• Net cash flow from operating activities for the first three quarters was RMB 2.11 billion, down 6.19% year-over-year.

• Non-recurring items included government subsidies and fair value losses, with a net non-recurring gain of RMB 3.86 million YTD.

Outlook and guidance

• Application for public issuance of up to RMB 5 billion in corporate bonds was approved by the Shanghai Stock Exchange and is pending registration with the CSRC.