Stock Abbreviation: Guangdong Expressway A B Stock Code: 000429 200429

Announcement No.: 2024-021

Guangdong Provincial Expressway Development Co. Ltd.Summary of the 2024 Semi-Annual Report

1I. Important Notice

The semi-annual report summary provided here is derived from the complete semi-annual

report. For a comprehensive understanding of the company's operational results financial

status and future development plans investors should carefully read the full text of the

semi-annual report on the media designated by the Securities Regulatory Commission.All directors have attended the board meeting to review this report.Non-standard Audit Opinion Notice

□ Applicable□√ Not applicable

The profit distribution plan or capital reserve conversion to share capital plan reviewed by the

board of directors for the reporting period.□ Applicable□√ Not applicable

The company plans not to distribute cash dividends not to issue bonus shares and not to

convert capital reserves into share capital.The preferred share profit distribution plan for this reporting period approved by the board of

directors.□ Applicable□√ Not applicable

ⅡBasic Information of the Company

1. Company Profile

000429

Stock abbreviation: Expressway A Expressway B Stock code

200429

Stock exchange for listing Shenzhen Stock Exchange

Contact Person and Contact

Board secretary Securities affairs Representative

Information

Name Yang Hanming Liang Jirong

46/F Litong Plaza No.32 45/F Litong Plaza No.32

Zhujiang East Road Zhujiang Zhujiang East Road Zhujiang

Contact address

New City Tianhe District New City Tianhe District

Guangzhou Guangzhou

Tel 020-29004619 020-29004523

Fax 020-38787002 020-38787002

E-mail Hmy69@126.com 139221590@qq.com

22. Summary of Accounting Data and Financial Indicators

Whether it has retroactive adjustment or re-statement on previous accounting data

□Yes √ No

Same period of last YoY+/-

Reporting period

year （%）

Operating income（yuan） 2230865662.20 2340436775.08 -4.68%

Net profit attributable to the shareholders of the

855465441.00885644187.99-3.41%

listed company（yuan）

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of listed 883859403.20 913683625.12 -3.26%

company（yuan）

Cash flow generated by business operation net

1603256009.682013917191.70-20.39%（yuan）

Basic earning per share(yuan/Share) 0.41 0.42 -2.38%

Diluted gains per share(yuan/Share) 0.41 0.42 -2.38%

Weighted average income/asset ratio（%） 8.45% 9.30% -0.85%

As at the end of the As at the end of last YoY+/-

reporting period year （%）

Gross assets（yuan） 22379416869.63 21368963167.41 4.73%

Shareholders’ equity attributable to shareholders

9640941824.719847531855.89-2.10%

of the listed company（yuan）

33. Shareholders and actual controlling shareholder

In Shares

Total number of common

Total number of preferred shareholders that had restored the voting right at the

shareholders at the end of the 51839 0

end of the reporting period (if any) (note 8)

reporting period

Particulars about shares held above 5% by shareholders or top ten shareholders(Excludes shares lent through refinancing)

Number of share

Amount of

Nature of Proportion of Number of shares Changes in Amount of restricted pledged/frozen

Shareholders un-restricted shares

shareholder shares held（%） held at period -end reporting period shares held State of

held Amount

share

Guangdong Communication State-owned Not appl

24.56%51348548004101057381033797420

Group Co.Ltd legal person icable

Guangdong Highway State-owned Not appl

22.30%466325020004663250200

Construction Co. Ltd legal person icable

Shangdong Expressway State-owned Not appl

9.68%202429927-871391802024299270

Investment Development Co. Ltd. legal person icable

Guangdong Provincial Freeway State-owned Not appl

2.53%52937491019582228333552630

Co.Ltd. legal person icable

Tibet Hetai Enterprise State-owned Not appl

1.68%35153050-242472000351530500

Management Co. Ltd. legal person icable

Domestic

Not appl

Feng Wuchu natural person 1.18% 24726296 6229967 0 24726296 0

icable

shares

China Pacific Life Insurance Co. Not appl

Other 1.04% 21731388 17618970 0 21731388 0

Ltd.-China Pacific Life Equity icable

4Dividend Product (Life

Proprietary Trading) Entrusted

Investment (Changjiang Pension)

Overseas legal Not appl

HKSCC 0.97% 20338420 -12658095 0 20338420 0

person icable

State-owned Not appl

SDIC Securities 0.89% 18664177 18664177 0 18664177 0

legal person icable

Overseas legal Not appl

Xinyue Co. Ltd. 0.63% 13201086 0 0 13201086 0

person icable

Guangdong Communication Group Co. Ltd. is the parent company of Guangdong Highway Construction Co. Ltd.，GuangdongRelated or acting-in-concert parties among Provincial Freeway Co.Ltd. and Xinyue Co. Ltd. It is unknown whether there is relationship between other shareholders and whether

shareholders above they are persons taking concerted action specified in the Regulations on Disclosure of Information about Change in Shareholding of

Shareholders of Listed Companies.Top 10 ordinary shareholders conducting securities

None

margin trading (if any) (see note 4)

The situation of shareholders holding more than 5% of the shares the top 10 shareholders and the top 10 holders of unrestricted tradable shares participating in

the securities lending business through the securities lending and borrowing system.□ Applicable□√ Not applicable

Changes in the top 10 shareholders and the top 10 holders of unrestricted tradable shares due to the lending/return of shares in the securities lending and

borrowing system compared to the previous period.□ Applicable□√ Not applicable

54. V. 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. Table of the total number of preferred shareholders and the shareholding situation of the top

10 preferred shareholders.

□Applicable √Not applicable

The Company had no preferred shares in the reporting period

6. The situation of bonds outstanding on the approval and release date of the semi-annual

report

√ Applicable □ Not applicable

(1) Basic Information of Bonds

Bond

Inte

Bond short Issue Value balance

Bond name Bond code Due day rest

name day date (In RMB

rate

10000)

Guangdong Provincial E

20 Guangdong

xpressway Development March March March

Expressway 102000367 74964.76 3%

Co. Ltd. 2020 first pha 132020 172020 172025

MTN001

se medium-term notes

(2) Main accounting data and financial indicators of the Company in recent two years by the

end of the reporting period

Items At the end of the reporting period At the end of last year

Debt ratio 45.31% 41.93%

Amount of this period Amount of last period

EBITDA Time interest earned ratio 17.97 16.74

Ⅲ Important Events

After the deliberation and approval of the third extraordinary general meeting of shareholders

in 2020 the Company acquired 21% of the equity of Guangdong Guanghui Expressway Co.

6Ltd. held by Guangdong Provincial Expressway Co. Ltd. in cash in 2020 (hereinafter referred

to as the "Transaction"). The Company signed the "Profit Compensation Agreement between

Guangdong Provincial Expressway Development Co. Ltd. and Guangdong

Provincial Expressway Co. Ltd." (hereinafter referred to as the "Profit Compensation

Agreement") with Provincial Company and Provincial Company made a commitment to the

net profit of Guanghui Company in 2020 2021 and 2022 (hereinafter referred to as the

"Performance Commitment Period"). After the deliberation and approval of the first

extraordinary general meeting of shareholders in 2023 the Company signed the Supplementary

Agreement to the Profit Compensation Agreement between Guangdong Provincial Expressway

Development Co. Ltd. and Guangdong Provincial Expressway Co. Ltd. (hereinafter referred

to as the "Supplementary Agreement") with Provincial Company and the performance

commitment period was adjusted to 2020 2021 and 2023.According to the "Special Audit Report on the Realization of the Profit Forecast of Guangdong

Guanghui Expressway Co. Ltd." (No. 310039(2024)Yongzheng Zhuanzi ) issued by Yongtuo

Certified Public Accountants (LLP) on March 15 2024 in 2020 2021 and 2023 Guanghui

Company had achieved a net profit of 2951041600 yuan after deducting non-recurring gains

and losses and in the performance commitment period of 2020 2021 and 2023 the promised

cumulative net profit after deducting non-recurring gains and losses realized was

2999265700 yuan. The cumulative actual profit was 48224100 yuan less than the

cumulative amount promised which had triggered the provisions of Article 2.3 of the Profit

Compensation Agreement and Article 2.1 of the Supplementary Agreement and the Provincial

Company shall pay performance compensation to the Company. According to the formula for

calculating the amount of performance commitment compensation agreed in the above

agreement the amount of performance commitment compensation payable by Provincial

Company was RMB 40092886.12.As of July 2 2024 the Company has received the above-mentioned performance commitment

compensation paid by Provincial Company. According to the accounting standards the

material asset restructuring in 2020 was a business combination under the common control and

the amount of performance commitment compensation was offset by the difference between

the initial investment cost and the cash paid at that time to adjust the capital reserve and the

relevant accounting treatment had been reflected in the 2023 annual report and the

performance compensation received this time increases the monetary funds of the current

period and reduces other receivables by 40092886.12 yuan each which will not affect the

Company's current profit and total assets. The provincial expressway company’s performance

commitment compensation obligation for the major asset restructuring project in 2020 has been

fulfilled.

7