The Zhitong Finance App learned that highway stocks fell collectively. As of press release, the Sichuan-Cheng-Chongqing Expressway (00107) fell 5.11% to HK$2.6; the Anhui Wantong Expressway (00995) fell 4.83% to HK$8.28; the Jiangsu Ning—Shanghai Expressway (00177) fell 4.08% to HK$8; and the Zhejiang Shanghai-Hangzhou—Hangzhou (00576) fell 3.9% to HK$5.91.
According to the news, Cathay Pacific Jun An pointed out that high dividends have continued to be favored by the market since the beginning of the year, and that excess highway revenue continues to lead the transportation sector. Among them, the Wan-Tong Expressway, the Ninghai Expressway, the Shandong Expressway, the Guangdong Expressway, and the China Merchants Highway are at the top. The rise in the PE center of high-speed companies has benefited from rigid demand, stable cash flow and market preferences, while industry reinvestment risks will continue to guarantee the continuation of high dividends. Market preferences are expected to continue to dominate earnings space in 2024. Although the dividend rate of expressways declines as stock prices rise, the certainty and sustainability of dividend rate decisions will still be the preferred choice for high dividends.