Shares of ANHUIEXPRESSWAY (00995) experienced a sharp decline in afternoon trading, falling nearly 6%. At the time of writing, the stock was down 5.89%, trading at HK$16.46 with a turnover of HK$15.12 million.

The movement follows the release of key operational data for April 2026 by the CICC Anhui Transportation Control Expressway Closed-end Infrastructure Securities Investment Fund. According to the disclosed figures, the average daily natural traffic volume for the Yanjiang Expressway in April was 19,517 vehicles, representing a year-on-year decrease of 5.35% and a month-on-month drop of 17.76%.

Regarding toll revenue, the Yanjiang Expressway generated RMB 71.97 million for the month of April, marking a 5.80% decline compared to the same period last year and a 13.04% decrease from the previous month. The cumulative toll revenue for 2026 reached RMB 284.48 million, reflecting a 9.87% year-on-year decrease.

Previous Analyst Commentary

A recent research report from Changjiang Securities highlighted that financial expenses weighed on the company's first-quarter profitability, with REITs-related income showing significant volatility. The report noted that the company recorded a fair value change loss of RMB 16 million for the first quarter of 2026, a reduction of RMB 50 million year-on-year.

This loss was primarily attributed to recognizing losses from its investment in the Anhui Transportation Control Yanjiang Expressway public REITs fund. The report pointed out that the REITs market underperformed in the first quarter due to shifting market conditions, leading to considerable fluctuations in the company's fair value gains.