粤高速Ｂ2025年半年度报告（英文版）

The Semi-Annual Report 20251Guangdong Provincial Expressway Development Co., Ltd.The Semi-Annual Report 2025August 2025The Semi-Annual Report 20252I. Important Notice, Table of Contents and DefinitionsThe Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior managementstaff of the Company warrant that this Report is factual, accurate and complete without any false record,misleading statement or material omission. And they shall be jointly and severally liable for that.Mr.Miao Deshan, Company principal , Mr. Lu Ming, Chief of the accounting work, Ms.Yan Xiaohong, Chief ofthe accounting organ (chief of accounting ) hereby confirm the authenticity and completeness of the financialreport enclosed in this Semi-annual report.All the directors have attended the meeting of the board meeting at which this report was examined.The toll revenues of Expressway is main source of the major business income of the company , The chargestandard of vehicle toll must be submitted to the same level people's government for review and approval after thetransport regulatory department of province, autonomous region or municipality directly under the centralgovernment in conjunction with the price regulatory department at the same level consented upon examination.Therefore, the adjustment trend of the charge price and the charge price if has the corresponding adjustment in thefuture price level when the cost of the company rises still depend on the approval of relevant national policies andgovernment departments, and the company isn't able to make timely adjustment to the charge standard inaccordance with the its own operation cost or the change of market supply demand. So, the change of chargepolicy and the adjustment of charge standard also have influence on the expressways operated by the company tosome extent. So, the charging policy changes and charges adjustment will affect the highways operation of thecompany.The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserveseither.The Semi-Annual Report 20253Table of ContentsI.Important Notice, Table of contents and DefinitionsII. Company Profile & Financial Highlights.III. Management Discussion & AnalysisIV. Corporate Governance, Environmental & Social ResponsibilityV. Important EventsVI. Change of share capital and shareholding of Principal ShareholdersVII. Corporate BondVIII. Financial ReportIX Other Submitted DateThe Semi-Annual Report 20254Documents available for inspection1. Accounting statements carried with personal signatures and seals of legal representative, Chief Financialofficer and Financial Principal.2.. The texts of all the Company's documents publicly disclosed on the newspapers and periodicals designated byChina Securities Regulatory Commission in the report period.The Semi-Annual Report 20255DefinitionTerms to be definedRefers toDefinitionReporting period, This yearRefers toJanuary 1, 2025 to June 30,2025Reporting dateR