According to the Wise Money App, Anhui Expressway (00995) is up nearly 5%, with a rise of 4.64% to HKD 9.24 at the time of publication and a turnover of HKD 10.51 million.

GTJA pointed out that Anhui Expressway is invested in and operates part of the roads in Anhui Province with obvious location advantages. The company's ROE rebounded to a 10-year high in 2023, and its performance was flat year-on-year in the first quarter of 2024 due to the high base period. The company is operating steadily and is expected to continue to prioritize reinvestment management and shareholder returns, with high dividends expected to continue. If the dividend rate is maintained at 60%, the dividend yield is expected to be 7.7%, 8.4%, and 8.7% for 2024-2026. Market risk preference in 2024 will determine the space.

Soochow Securities previously stated that the current highway laws and regulations may not fully meet the needs of sustainable development of highways, and there may be some room for reform. In 2018, the Ministry of Transport issued the "Draft Amendment to the Highway Law" and the "Revised Regulations on Toll Road Management", and the new highway law has spurred demand for expired highway operation management from two aspects: "relaxing restrictions on the management of expiring highways" and "allowing maintenance fees to continue to be charged after expiration." It also promotes the transformation of highway operation management towards "sustainable operation" and the focus in the future will be on the progress of the implementation of new highway laws and regulations.