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Yuexiu Transport Infrastructure Announces 2017 Annual Results

Date: 2018-02-12
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Yuexiu Transport Infrastructure Announces 2017 Annual Results

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Core Projects Grow Strongly, the Total Dividends Increased by 9.1%

 


Yuexiu Transport Infrastructure Announces 2017 Annual Results


 

Yuexiu Transport Infrastructure Limited on Fed 12th(‘the Company’) announces the annual results of the Company and its subsidiaries for the twelve months ended 30 December 2017(‘Reporting Period’). During the reporting year, the Group’s operating results hit record highs again. The toll income increased by 7.3% to RMB27 billion. Profit attributable to shareholders rose by 3.2%. On a comparable basis alternatively where both profit generated from Xian Expressway (concessionary contract expired on 30th September) and disposal gain from Wuzhou Port(equity transfer completed in August 2016) are excluded from 2016 results, profit attributable to shareholders soared by 32.7%.The Board has recommended the payment of a final dividend of HK$0.23 per share for 2017, which together with the paid interim dividend of HK$0.13 per share, will bring the total dividends for the Reporting Year to HK$0.36 per share (which is equivalent to RMB 0.297 per share), up by 9.1%. This will also represent an annual dividend payout ratio of 52.4%.

 

Mr. Zhu Chunxiu, Chairman of Yuexiu Transport Infrastructure, said, “During the reporting year, the policies concerning the toll road industry remained stable, which provided a favorable business environment for the Company's business development. With the projects within the central region such as the Suiyuenan Expressway gradually becoming the main source of profit, it indicates that the Company’s fortitude in adhering to the state policy of "Rise of Central China Strategy" (中部崛起戰略) and the development opportunities brought by such strategy has become more and more tangible.

 

During the reporting year, the Central Economic Work Conference underlined the principle base tone of maintaining stability and the Chinese economy is expected to stay on its ascending course with continuous steady economic growth. The highway transportation business is under the influence of macro-economic conditions, characterized by a relatively rigid demand. Expressway infrastructure takes up an important role in the national economic development, and is essential to the economic and social development of China. Meanwhile, vehicle ownership maintains a double-digit growth rate, with continuous rise of consumption power of citizens, coupled with rapid development in the logistic industry made possible by the popularized e-commerce, resulting in a considerable potential of growth in demand for highway transportation. Based on the above, the Group is optimistic towards the development prospect of the industry.

 

Mr. Zhu Chunxiu, Chairman of Yuexiu Transport Infrastructure, concluded, “With a wealth of experience in the operation and management of the toll expressway/bridge industry, the Group will consistently focus on the investment and operation of the industry. Meanwhile, with the state policy of "Rise of Central China Strategy" (中部崛起戰略) and the proposal of "Guangdong-Hong Kong-Macao Bay Area" (粵港澳大灣區), the Company has actively seized the development opportunities brought by the national strategy of "Rise of Central China" in recent years, and explored investment opportunities of high quality projects in Central China Provinces with a large population of labors that benefited from the shift of labor-intensive processing/manufacturing enterprises along the southeast coast. In the future, the Company insists on highlighting Central China as the focus of its regional development strategy, and actively look for high- quality expressway projects for mergers and acquisitions. Meanwhile, the Company will strike to ensure a steady and sound financial position on the whole alongside our business development, making efforts to enhance shareholders’ value and investment return.

 


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