Summary by Moomoo AI
In the first half of 2024, Zhejiang-Hangzhou-Ningbo focused on its main responsibilities and implemented the 'three centers' development strategy to enhance the profitability of its main business of expressways, and strengthen digitalization and technology empowerment. Faced with significant impact on the securities industry, its subsidiary Zheshang remains confident in development, deepens reforms, strengthens risk management, and operates with performance superior to the industry average. In the first half of 2024, the Group's income increased by 1.4% year-on-year, reaching RMB 83.67 billion; net profit attributable to equity holders increased by 4.7% year-on-year, amounting to RMB 26.8 billion. Basic earnings per share were 44.72 RMB cents, a 20.4% decrease year-on-year. The board of directors recommends not distributing mid-term dividends. Against the backdrop of steady economic recovery in China, toll revenue from expressways continues to grow, while securities business revenue, although affected by capital market fluctuations, declined by a margin lower than the industry average.
