BAY AREA DEV (00737) announced its interim results for the six months ended June 30, 2025. The group recorded revenue of RMB371 million during the period, representing a year-on-year decrease of 17.14%. Profit attributable to equity shareholders reached RMB234 million, down 2.74% compared to the same period last year. Basic earnings per share stood at 7.59 cents.

During the review period, the operational performance of Guangshen Expressway, Guangzhu West Line Expressway, and Yanjiang Expressway (Shenzhen Section) varied significantly, primarily due to different impacts from changes in the surrounding road network on toll revenue and traffic volume.

Specifically, Guangshen Expressway recorded average daily toll revenue of approximately RMB7.5 million, down 3% year-on-year, while average daily mixed traffic volume increased 3% year-on-year to approximately 623,000 vehicle trips. Guangzhu West Line Expressway saw average daily toll revenue decline 12% year-on-year to approximately RMB3.01 million, though average daily mixed traffic volume rose 3% year-on-year to approximately 260,000 vehicle trips. Meanwhile, Yanjiang Expressway (Shenzhen Section) achieved significant growth with average daily toll revenue and average daily mixed traffic volume increasing 22% and 18% year-on-year respectively, reaching approximately RMB2.05 million and 213,000 vehicle trips.

Total attributable net toll revenue amounted to approximately RMB1.254 billion. The strong performance of Yanjiang Expressway (Shenzhen Section) was attributed to the combined effects of the simultaneous opening of Yanjiang Phase II and Shenzhen-Zhongshan Link in June 2024, the completion of freight toll adjustments in January 2025, and the opening of Mawan Tunnel. Conversely, Guangshen Expressway and Guangzhu West Line Expressway faced negative traffic diversion impacts due to further improvements in the surrounding expressway network.