公告日期：2025-08-29

The Semi-Annual Report 2025

Guangdong Provincial Expressway Development Co., Ltd.

The Semi-Annual Report 2025

August 2025

The Semi-Annual Report 2025

I. Important Notice, Table of Contents and Definitions

The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior management
staff 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 of
the accounting organ (chief of accounting ) hereby confirm the authenticity and completeness of the financial
report 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 charge
standard of vehicle toll must be submitted to the same level people's government for review and approval after the
transport regulatory department of province, autonomous region or municipality directly under the central
government 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 the
future price level when the cost of the company rises still depend on the approval of relevant national policies and
government departments, and the company isn't able to make timely adjustment to the charge standard in
accordance with the its own operation cost or the change of market supply demand. So, the change of charge
policy and the adjustment of charge standa……
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