Bay area dev (00737.HK) announced on August 23 that for the six-month period ending June 30, 2024, the economic growth of cities along the expressway and the performance of toll road operations remained stable. However, due to the implementation of a 17-day measure allowing free passage for 7-seat or below passenger vehicles during the first half of 2024, which is 4 days more than the same period last year, the net toll fee income for the review period increased slightly by 1% to approximately RMB 1.248 billion. The contracted sales amount for Park City during the review period was approximately RMB 0.422 billion.

The company's attributable attributable net profit to equity shareholders increased by 40% to approximately RMB 0.241 billion, mainly due to (i) the impact of the adjustment of depreciation and amortization expenses for the Guangshen Expressway disclosed in the 2023 annual report, resulting in a year-on-year decrease in the group's share of its depreciation and amortization expenses; and (ii) a decrease in net exchange losses caused by various factors.

The interim dividend for the year 2024 will be RMB 7.80 per share (equivalent to HKD 8.522358 cents per share), with a dividend payout ratio equivalent to 100% of the attributable attributable net profit of the company's equity shareholders for the 6-month period ending June 30, 2024.