According to the Wisdom Financial App, Anhui Expressway (09995) rose nearly 6%, as of press time, up 5.38%, at HKD 9.8, with a turnover of HKD 13.748 million.

Gtja pointed out that the main road assets of Anhui Expressway will be expanded and connected in 2023, which will drive significant growth in traffic volume and performance. In 2024 Q1, the company's operation was stable, and the high base and the free tickets during the Spring Festival led to a slight decrease in non-deductible net profit. The bank pointed out that it plans to distribute a cash dividend of RMB 0.601 per share in 2023, with a dividend payout ratio of 60.05%. The company's ROE in 2023 rebounds to a ten-year high, and the long-term center is stable at 10%-13%, leading the industry. The company's previous round of shareholder returns is due in 2023, and considering the company's focus on reinvestment management and shareholder returns, high dividends are expected to continue. If the dividend payout ratio is maintained at 60%, the dividend yields for 2024-2026 are expected to be 7.7%, 8.4%, and 8.7%.

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.