GPED reports toll revenue decline amid expansion efforts

Guangdong Provincial Expressway Development Co., Ltd. (GPED) [SZSE: 000429] reported a 6.34% decrease in operating income to 4.57 billion RMB for 2024, according to its annual report. Toll revenues, the company's primary income source, faced headwinds from new road networks and ongoing construction. Net profit attributable to shareholders declined by 4.39% to 1.56 billion RMB. Despite revenue challenges, GPED increased its R&D investment by 16.04% and continued its focus on expanding its expressway network. The company proposes a cash dividend of 5.23 RMB per 10 shares. While state-owned shares remain under Guangdong Communication Group, GPED acknowledges potential impacts from changing toll policies and charging standards. GPED's Board expects operating income of 4.447 billion RMB in 2025.