Guangdong Expressway's Q3 net profit climbs despite revenue dip

For the nine months ended September 30, 2025, Guangdong Provincial Expressway Development Co., Ltd. reported operating revenue of RMB 3,362,508,742.41, a 3.99% decrease compared to the same period last year. Despite this, net profit attributable to the shareholders of the listed company increased by 13.92% to RMB 1,545,171,669.34. Basic earnings per share also rose by 13.85% to RMB 0.74.

Total assets grew by 7.88% to RMB 24,209,363,602.65 at the period-end, while net assets attributable to shareholders increased by 3.61% to RMB 10,845,825,563.84. The company generated net cash from operating activities of RMB 3,044,711,345.74, a significant 20.27% increase year-on-year, primarily driven by advance funds for operations and government subsidies.

Key changes in the balance sheet include a 27.26% increase in monetary funds due to cash flow activities and a 45.15% rise in construction in progress reflecting increased expenditure on reconstruction projects. The decrease in operating income was attributed to reduced toll revenue on certain expressways due to new corridor openings and changes in traffic flow structure.