From 2013-08-20 to 2013-08-21, Yuexiu Transport Infrastructure attend the post 2013 Interim Result NDR organized by Bank of America Merrill Lynch in Singapore. General Manager Mr. He Baiqing, Deputy General Manager Mr. Pan Yongqiang and Department of Investor Relations attended the above activities.
With the influence of Bank of America Merrill Lynch, management team have met large international institutional investors such as Fidelity International Investment, Schroders PLC, Allianz Global Investors and J.P. Morgan Asset Management, ect, each of whose assets under management amounted to more than $10 billion US Dollars. Additionally, these investors, who are or used to the company’s major shareholders, will mainly anticipate dividend stream from the company as the core of their investment approaches.
During the conversations, management mainly communicated with investors regarding the issues of 2013 interim result, outlooks in the second half, future prospect for business, and regulatory outlook of toll road sector in a detailed and objective manner. Investors agreed that the company's performance in the first half this year has beaten their estimations. And given the strong growth momentum were seen from the company’s latest announced July operating figures, investors were quite optimistic about the business result of the company in the second half. Moreover, management team’s decision of slowing down the pace of acquisition while shifting the emphasis to improve the profitability of the current project and reduce the company's debt levels was highly welcomed by investors, who generally agreed that the company’s asset-liability ratio is close to industry level due to the past three years’ proactive M & A activities.. They also suggested the company focus on deleveraging and improving the quality of current asset. Therefore, investors can share a higher level of dividend stream from the company, given a stable dividend policy, under the circumstance that the company’s profitability has been gradually improved.