Stock Code：000429，200429 Stock Abbreviation ：Guangdong Expressway A, Guangdong Expressway B
Announcement No.:2023-022
Summary of 2023Semi-Annual Report of Guangdong Provincial
Expressway Development Co., Ltd.
1 Important notes
The summary is abstract from full-text of semi-annual report, for more details information , investors should
found in the full-text of annual report that published on website of Shenzhen Stock Exchange and other website
appointed by CSRC.
All the directors have attended the meeting of the board meeting at which this report was examined
Non-standard audit advice
□ Applicable √ Not applicable
The Board of Directors considered the plan for the distribution of ordinary shares in the reporting period or the
plan for the transfer of capital reserve.
□ Applicable √ Not applicable
The company plans not to send cash dividends, do not send bonus shares, not to increase the share capital.
The Board of Directors decided to adopt the Preplan Preference Share Profit Distribution Plan for the reporting
period
□ Applicable √ Not applicable
II Company basic information
1. Company Profile
Stock abbreviation: Expressway A, Expressway B Stock code： 000429、200429
Stock exchange for listing Shenzhen Stock Exchange
Board secretary Securities affairs Representative
Name Yang Hanming Liang Jirong
46/F, Litong Plaza, No.32, Zhujiang East 45/F, Litong Plaza, No.32, Zhujiang East
Contact address Road, Zhujiang New City, Tihe Disrtict , Road, Zhujiang New City, Tihe Disrtict ,
Guangzhou Guangzhou
Tel 020-29004619 020-29004523
E-mail Hmy69@126.com 139221590@qq.com
2.Summary of Accounting Data and Financial Indicators
Whether it has retroactive adjustment or re-statement on previous accounting data
√Yes □ No
Retroactive adjustment or restatement of causes
Accounting policy change
Same period of last year YoY+/-（%）
Reporting period After
Before adjustment After adjustment
adjustment
Operating income（yuan） 2,340,436,775.08 2,057,420,809.68 2,057,420,809.68 13.76%
Net profit attributable to the shareholders of
885,644,187.99 773,786,851.68 773,736,908.29 14.46%
the listed company（yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 913,683,625.12 743,090,095.19 743,040,151.80 22.97%
listed company（yuan）
Cash flow generated by business operation, net
2,013,917,191.70 1,443,551,266.30 1,443,551,266.30 39.51%
（yuan）
Basic earning per share(yuan/Share) 0.42 0.37 0.37 13.51%
Diluted gains per share(yuan/Share) 0.42 0.37 0.37 13.51%
Weighted average income/asset ratio（%） 9.30% 8.45% 8.45% 0.85%
As at the end of last year YoY+/-（%）
As at the end of the
After
reporting period Before adjustment After adjustment
adjustment
Gross assets（yuan） 21,477,092,071.77 20,267,197,153.88 20,267,998,963.78 5.97%
Shareholders’ equity attributable to
9,074,979,474.41 9,075,877,244.12 9,075,659,162.80 -0.01%
shareholders of the listed company（yuan）
Reasons for the changes in accounting policies and the correction of accounting errors
On November 30, 2022, the Ministry of Finance issued the Notice on Printing and Distributing the No.
16Interpretation of Accounting Standards for Business Enterprises (No. 31[2022]Cai Hui).According to the
relevant requirements of the No. 16 Interpretation of Accounting Standards for Business Enterprises, the
Company shall make corresponding adjustments to the relevant accounting policies originally adopted. Adopted
by the resolution of the seventh meeting of the 10th session of the Board of Directors of the Company on March
20, 2023, the Company implements the relevant provisions of the No. 16 Interpretation of Accounting Standards
for Business Enterprises from January 1, 2023.
3.Number of shareholders and shareholding
In share
Total number of common Total number of preferred shareholders
shareholders at the end of the 49,752 that had restored the voting right at the end 0
reporting period of the reporting period (if any) (note 8)
top ten shareholders
Proporti Number of share
Nature of on of Number of Changes in Amount of Amount of pledged/frozen
Shareholders sharehold shares shares held at reporting restricted un-restricted
er held period -end period shares held shares held State of Amo
（%） share unt
Guangdong State-ow
Communication ned legal 24.56% 513,485,480 410,105,738 103,379,742
Group Co.,Ltd person
Guangdong Highway State-ow
Construction Co., ned legal 22.30% 466,325,020 466,325,020
Ltd, person
Shangdong
Expressway State-ow
Investment ned legal 10.10% 211,069,245 211,069,245
Development Co., person
Ltd.
Tibet Hetai
State-ow
Enterprise
ned legal 4.84% 101,214,574 101,214,574
Management Co., person
Ltd.
Guangdong State-ow
Provincial Freeway ned legal 2.53% 52,937,491 19,582,228 33,355,263
Co.,Ltd. person
Overseas
HKSCC legal 0.92% 19,291,612 19,291,612
person
Domestic
natural
Feng Wuchu 0.80% 16,678,821 -6,695,584 16,678,821
person
shares
Overseas
Xinyue Co., Ltd. legal 0.63% 13,201,086 13,201,086
person
State-ow
Orient securities ned legal 0.52% 10,775,913 19,400 10,775,913
person
Happy life insurance
Other 0.50% 10,438,130 -12,547,100 10,438,130
Co., Ltd.-Dividend
Strategic investor or general legal
person becoming top-10 ordinary
None
shareholder due to rights issue (if
any) (see note 3)
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong Highway
Construction Co., Ltd.，Guangdong Provincial Freeway Co.,Ltd. and Xinyue Co., Ltd., It is unknown
Related or acting-in-concert
parties among shareholders above whether there is relationship between other shareholders and whether they are persons taking
concerted action specified in the Regulations on Disclosure of Information about Change in
Shareholding of Shareholders of Listed Companies.
4. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Not Applicable
There was no any change of the controlling shareholder of the Company in the reporting period.
Change of the actual controller in the reporting period
□ Applicable √ Not applicable
There was no any change of the actual controller of the Company in the reporting period.
5.The total number of shareholders of the Company's preferred shares and the shareholdings of the top 10
preferred shareholders
The Company did not have any preferred shareholding in the report period.
6、Bonds existing on the approval date of semi annual report
√Applicable □ Not applicable
1. Basic information
Bond short Bond balance Interes
Bond name Bond code Issue day Due day
name （ten thousand） t rate
Guangdong Provincial Expre
19 Guangdong
ssway Development Co., Ltd February March
Expressway 101900252 67,970.39 4%
. 2019 first phase medium-ter 27,2019 1,2024
MTN001
m notes
Guangdong Provincial Expre
20 Guangdong
ssway Development Co., Ltd March March
Expressway 102000367 74,914.71 3%
. 2020 first phase medium-ter 13,2020 17,2025
MTN001
m notes
2、Financial indicators as of the end of the reporting period
Items At the end of the reporting period At the end of last year
Debt ratio 46.25% 43.90%
Amount of this period Amount of last period
EBITDATime interest earned ratio 16.74 15.96
III.Explanation on other significant events
In 2020, the Company acquired the 21% stake of Guangdong Guanghui Expressway Co., Ltd. held by
Guangdong Provincial Freeway Co., Ltd. in cash. The Company signed the "Profit Compensation Agreement
between Guangdong Provincial Expressway Development Co., Ltd. and Guangdong Provincial Freeway Co.,Ltd."
(hereinafter referred to as the "Profit Compensation Agreement") with the Guangdong Provincial Freeway
Co.,Ltd.and Guangdong Expressway, which made commitment on the future profitability of Guanghui Company.
In view of the fact that during the performance compensation period, due to the impact of domestic
macroeconomic fluctuations, the net profit realized by Guanghui Company after deducting non-recurring profits
and losses during the performance compensation period did not reach the cumulative forecast net profit, which
triggered the compensation obligation stipulated in the Profit Compensation Agreement. In order to safeguard the
long-term interests of the Company and its shareholders, especially small and medium-sized shareholders, taking
into account the relevant arrangements of the two parties under the original agreement, and in accordance with the
relevant requirements of the Administrative Measures for the Restructuring of Major Assets of Listed Companies
and the consultation between the parties to the original agreement, the "Proposal on Changing the Performance
Commitment of Major Asset Restructuring Project in 2020 and Sinning the Supplementary Agreement to the
Profit Compensation Agreement " was deliberated and adopted in the 10thmeeting (interim) of the 10th Board of
Directors of the Company , agreeing to change the performance commitment of major asset restructuring project
in 2020 and sign the Supplementary Agreement to the Profit Compensation Agreement with the Provincial
Expressway. The performance compensation period for this restructuring had been adjusted to 2020, 2021, and
2023. The Provincial Expressway promised that the net profit accumulated by Guanghui Expressway after
deducting non-recurring profits and losses in the three years of 2020, 2021 and 2023 shall not be less than
2,999,265,700 yuan.
[The "Proposal on Changing the Performance Commitment of Major Asset Restructuring Project in 2020 and
Sinning the Supplementary Agreement to the Profit Compensation Agreement " was deliberated and passed in the
Company's first extraordinary general meeting of shareholders in 2023].
For details of the matter, please refer to the "Announcement on Changing the Performance Commitment of
Major Asset Restructuring Project in 2020" disclosed on Cninfo Information Network
(www.cninfo.com.cn)(Announcement No.: 2023-18) on August 8, 2023, and the "Announcement of Resolution of
the First Provisional General Meeting of Shareholders in 2023" disclosed on August 24, 2023.
