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 changeSame period of last year YoY+/-（%）

Reporting period After

Before adjustment After adjustment

adjustment

Operating income（yuan） 2340436775.08 2057420809.68 2057420809.68 13.76%

Net profit attributable to the shareholders of

885644187.99773786851.68773736908.2914.46%

the listed company（yuan）

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of 913683625.12 743090095.19 743040151.80 22.97%

listed company（yuan）

Cash flow generated by business operation net

2013917191.701443551266.301443551266.3039.51%（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） 21477092071.77 20267197153.88 20267998963.78 5.97%

Shareholders’ equity attributable to

9074979474.419075877244.129075659162.80-0.01%

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 49752 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% 513485480 410105738 103379742

Group Co.Ltd person

Guangdong Highway State-ow

Construction Co. ned legal 22.30% 466325020 466325020

Ltd person

Shangdong

Expressway State-ow

Investment ned legal 10.10% 211069245 211069245

Development Co. person

Ltd.Tibet Hetai

State-ow

Enterprise

ned legal 4.84% 101214574 101214574

Management Co. person

Ltd.Guangdong State-ow

Provincial Freeway ned legal 2.53% 52937491 19582228 33355263

Co.Ltd. person

Overseas

HKSCC legal 0.92% 19291612 19291612

person

Domestic

natural

Feng Wuchu 0.80% 16678821 -6695584 16678821

person

shares

Overseas

Xinyue Co. Ltd. legal 0.63% 13201086 13201086

person

State-ow

Orient securities ned legal 0.52% 10775913 19400 10775913

person

Happy life insurance

Other 0.50% 10438130 -12547100 10438130

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 unknownRelated or acting-in-concert

whether there is relationship between other shareholders and whether they are persons taking

parties among shareholders above

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 67970.39 4%. 2019 first phase medium-ter 272019 12024

MTN001

m notesGuangdong Provincial Expre

20 Guangdong

ssway Development Co. Ltd March March

Expressway 102000367 74914.71 3%. 2020 first phase medium-ter 132020 172025

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

2999265700 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.