Yuexiu Transport Infrastructure Limited released unaudited operating figures for July 2026, showing a broad month-on-month (MoM) recovery in traffic and toll income across most controlled and investee expressways, yet year-on-year (YoY) comparisons remained largely negative.

Traffic Trends • Subsidiaries: All eleven wholly-controlled roads booked MoM traffic growth except Han’e Expressway (-5.2%). The largest sequential rebound came from Qinbin Expressway (+67.3%), followed by Cangyu (+19.6%) and Suiyuenan (+11.6%). Despite the pickup, eight of the eleven assets still recorded YoY traffic contractions, led by Han’e (-49.0%) and Qinbin (-33.1%). • Associates & JVs: Every joint-control asset improved MoM, with Qinglian Expressway up 10.7% and Shantou Bay Bridge up 7.4%. On a YoY basis, however, declines persisted at most projects, headlined by Humen Bridge (-18.4%) and GWSR Expressway (-9.2%), while Han-Xiao eked out a 1.5% gain.

Toll Revenue Performance Converted to renminbi millions (exclusive of VAT), July toll revenue at subsidiary roads broadly echoed traffic patterns: • Sequential growth was evident at nine of eleven projects, propelled by Qinbin Expressway (+67.4%), Changzhu (+20.4%), and Daguangnan (+10.3%). • YoY, only Changzhu (+8.5%) and Daguangnan (+2.1%) posted gains; the steepest setbacks were at Han’e (-63.0%) and Suiyuenan (-30.2%). • GNSR Expressway, the largest contributor, generated RMB 83.27 million in July, down 10.4% YoY despite a 6.6% MoM recovery.

For associates and joint ventures, July toll revenue also improved sequentially, rising 14.9% at Qinglian Expressway and 8.6% at GWSR. Nevertheless, YoY revenue declined across the board except for Han-Xiao (+3.0%).

Cumulative View (Jan–Jul 2026) • Subsidiaries: Aggregate traffic for the period remained negative for most roads, with Han’e (-25.6%) and Suiyuenan (-12.2%) underperforming. Corresponding cumulative toll revenue fell on all but three routes; Weixu (+8.1%), Lanwei (+6.0%) and Changzhu (+2.6%) delivered positive growth. • Associates & JVs: Qinglian’s toll income rose 7.2% YoY to RMB 421.11 million. In contrast, Humen Bridge and GWSR Expressway recorded declines of 8.4% and 6.1% respectively.

Management Note The company reiterated that all figures are derived from internal records and remain unaudited; adjustments may follow final data reconciliation. Investors are urged to interpret the month-to-month and year-over-year variances with caution, given possible estimation differences inherent in inter-network toll settlement.