Qilu Express (01576) announced interim results. Profit attributable to shareholders of 249 million yuan decreased by 17.27% year-on-year

According to the Zhitong Finance App, Qilu Express (01576) announced interim results for the six months ended June 30, 2024. The group achieved revenue of 2,808 billion yuan (RMB, same below) during the period, an increase of 69.45%; profit attributable to shareholders was 249 million yuan, a decrease of 17.27% year on year; and basic income per share was 0.12 yuan.

According to the announcement, the decline in toll revenue and overall traffic volume was mainly due to the construction of the Jihe Expressway renovation and expansion project, half traffic on the main line, temporary closure of some toll gates, and closure of some transportation hubs, which led to a sharp drop in traffic on the Jihe Expressway, which had a significant impact on toll revenue. At the same time, due to the continuous optimization of the national and provincial road environment, traffic volume on the German-Shang-Xinnan Expressway declined during the reporting period.