StockCode：000429，200429 Stock Abbreviation：Guangdong Expressway A, Guangdong Expressway B Announcement No.:2018-029
Summary of 2018 Semi-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.
Director, Supervisor, Senior Manager Objection Statement: None.
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
||||
|-|-|-|
||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|
|Fax|020-38787002|020-38787002|
|E-mail|Hmy69@126.com|139221590@qq.com|

2. Summary of Accounting data and shareholder change
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data
□Yes√ No
In RMB
||||
|-|-|-|
|Reporting period|Same period of last year|YoY+/-（%）|

|||||
|-|-|-|-|
|Operating income（yuan）|1,535,864,145.14|1,440,222,563.74|6.64%|
|Net profit attributable to the shareholders|779,002,246.98|892,848,012.53||
||||-12.75%|
|of the listed company（yuan）||||
|Net profit after deducting of non-recurring||||
|gain/loss attributable to the shareholders of|752,917,711.53|641,933,600.43|17.29%|
|listed company（yuan）||||
|Cash flow generated by business operation,|817,279,588.10|1,022,392,235.37||
||||-20.06%|
|net（yuan）||||
|Basic earning per share(yuan/Share)|0.37|0.43|-13.95%|
|Diluted gains per share(yuan/Share)|0.37|0.43|-13.95%|
|Weighted average income/asset ratio（%）|8.60%|10.55%|-1.95%|
||As at the end of the|||
|||As at the end of last year|YoY+/-（%）|
||reporting period|||
|Gross assets（yuan）|15,867,983,183.17|16,523,315,093.72|-3.97%|
|Shareholders’ equity attributable to|8,674,276,291.67|9,023,071,118.45||
||||-3.87%|
|shareholders of the listed company（yuan）||||

3.Particulars about top ten shareholders
In share
||||||||||
|-|-|-|-|-|-|-|-|-|
|||||Total number of preferred|||||
|Total number of common|||||||||
|||||shareholders that had restored the|||||
|shareholders at the end of the||61,104|||||0||
|||||voting right at the end of the|||||
|reporting period|||||||||
|||||reporting period (if any) (note 8)|||||
|Particulars about shares held by top ten shareholders|||||||||
||||||||Number of share||
||||Proportion of||Number of|Amount of|||
||||||||pledged/frozen||
|Shareholders|Nature of shareholder||shares held||shares held at|restricted shares|||
||||||||State of||
||||（%）||period -end|held||Amount|
||||||||share||
|Guangdong Communication GroupCo.,Ltd|State-owned legal person||24.55%||513,382,595|410,002,853|||
|Guangdong Highway ConstructionCo., Ltd,|State-owned legal person||22.30%||466,325,020|466,325,020|||
|Yadong Fuxing Yalian InvestmentCo., Ltd.|Domestic non State-ownedLegal person||9.68%||202,429,149|202,429,149|||
||||||||Pledge|156,652,500|
|Tibet Yingyue InvestmentManagement Co., Ltd.|Domestic non State-ownedLegal person||4.84%||101,214,574|101,214,574|||
|Guangdong Expressway Co., Ltd.|State-owned legal person||2.53%||52,937,491|52,937,491|||
|Guangfa Securities Co., Ltd.|Domestic non State-ownedLegal person||1.45%||30,364,372|30,364,372|||
|Feng Wuchu|Domestic natural personshares||1.08%||22,593,729||||
|Agricultural Bank of China－Jingshun Great Wall EnergyInfrastructure Mixed SecuritiesInvestment Fund|Domestic non State-ownedLegal person||0.69%||14,381,528||||
|Xinyue Co., Ltd.|Foreign legal person||0.63%||13,201,086||||
|PRUSIK UMBRELLA UCITSFUND PLC|Foreign legal person||0.62%||12,999,871||||
||||Guangdong Communication Group Co., Ltd. is the parent company of||||||
|Explanation on associated relationship or concerted action of the|||Guangdong Highway Construction Co., Ltd, Guangdong Expressway||||||
|above shareholders|||Co., Ltd. and Xinyue Co., Ltd.. It is unknown 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
□ Applicable√ Not Applicable
The Company did not have any shareholding in the report period.
6. The corporate bonds
Whether the company has a public offering and listed on the stock exchange, and in the semi-annual report approved the date of the report did not expire or due to full payment of corporate bonds.
no
III. Discussion and analysis by the management
1.General
The Company is an infrastructure industry, with main business in developing and operating expressway and big bridges. It is one of the main institutions of developing expressway and big bridge in Guangdong Expressway System. The expressway industry is the industry helped by government.
In the first half of 2018, the company, according to the annual business plan established by the board of directors, soundly did a good job of each work. . In the first half of 2018, the main business income was 1.536 billion yuan, up by6.64% over the same period of last year, meaning47.60% of the annual plan was completed; and the operating costs was 534 million yuan, Flat year-on-year, representing completed40.27% of the annual plan.
In the report period, the vehicle traffic and toll income of the controlled subsidiaries and joint ventures of the Company are as follows:
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|-|-|-|-|-|
||Volume of vehicletraffic in the firsthalf year of 2018（Tenthousand vehicles）|Increase/Decrease(%)|Toll income in thefirst half year of2018（Ten thousand）|Increase/Decrease(%|
|Guangfo Expressway|2,953.85|1.50%|22,523.45|13.30%|
|Fokai Expressway|3,281.51|17.32%|63,859.17|8.37%|
|Jingzhu Expressway GuangzhuEast Section|3,642.16|2.99%|63,529.98|2.40%|
|Huiyan Expressway|2,046.44|11.95%|12,174.57|9.14%|
|Guanghui Expressway|2,783.87|10.83%|86,784.97|2.54%|
|Yuezhao Expressway|1,454.50|7.42%|26,279.69|7.14%|
|Jiangzhong Expressway|2,574.42|2.84%|22,967.71|5.92%|
|Guangle Expressway|1,151.82|18.54%|152,842.70|6.41%|
|Kangda Expressway|127.01|0.02%|11,305.54|-6.73%|
|Gangkang Expressway|187.22|35.72%|7,677.39|18.87%|

Overall situation: During the reporting period, the participating and controlled expressways in Guangdong Province continued to maintain a steady growth trend, with traffic volume and toll revenue increasing year-on-year; the traffic volume of two expressways in Jiangxi increased, but the toll revenue increased year-on-year and one year decreased.
1. Guangfo Expressway was affected by the implementation of restricted trucks in Foshan First Ring Road. The number of trucks increased year-on-year, so the increase in toll revenue was higher than the increase in traffic volume;
2. Guangzhu Section of Jingzhu Expressway. In September 2017, the National Road Hongqili Bridge was restored to traffic. Affected by this, the traffic volume and toll revenue increased slightly year-on-year;
3. Kangda Expressway was closed by the renovation project of the 323 National Road, and some of the trucks were diverted. The toll revenue decreased.
2.Matters relating to financial report
(1)Explain change of the accounting policy, accounting estimate and measurement methods as compared with the financial reporting of last year.
□Applicable√Not applicable
N/A
(2)Explain retrospective restatement due to correction of significant accounting errors in the reporting period□Applicable √ Not applicable
N/A
(3)Explain change of the consolidation scope as compared with the financial reporting of last year.
□Applicable √Not applicable
There was no change in the scope of the consolidated financial statements during the reporting period.