Summary by Futu AI
Zhejiang Hu Han Yong focused on its main responsibilities and operations in the first half of 2024, implementing the "three centers" development strategy to enhance the profitability of its main business in the expressway sector and strengthen digitalization and technology empowerment. Despite the substantial impact on the securities industry, its subsidiary ZheShang Securities remains confident in its development, deepening reforms, strengthening risk control management, and outperforming the industry average in operational performance. In the first half of 2024, the Group's income increased by 1.4% year-on-year, reaching RMB 8.3676 billion; the attributable net profit to the owners of the company increased by 4.7% year-on-year, reaching RMB 2.6801 billion. Basic earnings per share were RMB 0.4472, a year-on-year decrease of 20.4%. The Board of Directors recommended not to distribute interim dividends. With the steady recovery of the Chinese economy, toll revenue from expressways continues to grow, while the income from securities business has declined due to the impact of capital market fluctuations, but the decline is lower than the industry average.