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33	33	Toll management has been steadily improved. The toll revenue during the Reporting Period reached RMB1.397 billion (pre-tax), with an average daily total revenue of RMB7.7172 million, representing a growth of 1.51% year on year. Among them, electronic payment amounted to RMB772 million, accounting for 55.28% of the total toll revenue, representing a growth of 11.89% year on year. Toll stations at provincial border are being withdrawn orderly. The Company formulated the plan for toll stations between provinces withdrawal, researched and interviewed the toll standards and the exemption policies of neighboring provinces and studied the change in calculation of toll for trucks and participated in the revision of the standards and policies of toll. The Company planned the establishment of software and hardware system and staff re-designation for ensuring stable transition following cancellation of toll stations at provincial border.
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	35	+For the six month ended June 30, 0219, In accordance with HKAS, the Group achieved a revenue of RMB1,965,648 thousand (corresponding period in 2018: RMB1,760,879 thousand), representing an increase of 11.63% compared with that of the corresponding period of last year; profit before income tax was RMB757,664 thousand (corresponding period in 2018: RMB762,088 thousand), representing a decrease of 0.58% compared with that of the corresponding period of last year; unaudited profit attributable to owners of the Company was RMB543,667 thousand (corresponding period in 2018: RMB551,381 thousand), representing a decrease of 1.40% compared with that of the corresponding period of last year; basic earnings per share was RMB0.3278 (corresponding period in 2018: RMB0.3324), representing a decrease of 1.38% compared with that of the corresponding period of last year.{{footnote}}http://www.anhui-expressway.net/en/upload/2019-09/156837114294912900.pdf{{/footnote}}
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36		-For the six month ended June 30, 0219, In accordance with HKAS, the Group achieved a revenue of RMB1,965,648 thousand (corresponding period in 2018: RMB1,760,879 thousand), representing an increase of 11.63% compared with that of the corresponding period of last year; profit before income tax was RMB757,664 thousand (corresponding period in 2018: RMB762,088 thousand), representing a decrease of 0.58% compared with that of the corresponding period of last year; unaudited profit attributable to owners of the Company was RMB543,667 thousand (corresponding period in 2018: RMB551,381 thousand), representing a decrease of 1.40% compared with that of the corresponding period of last year; basic earnings per share was RMB0.3278 (corresponding period in 2018: RMB0.3324), representing a decrease of 1.38% compared with that of the corresponding period of last year.
	37	+= Recent developments =
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39		-[[http:~~/~~/www.anhui-expressway.net/en/upload/2019-09/156837114294912900.pdf>>url:http://www.anhui-expressway.net/en/upload/2019-09/156837114294912900.pdf]]
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42		-Recent developments
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45	45	on 23 December 2019, Jiangsu Expressway, Sichuan Expressway and Anhui Expressway are pleased to announce that, the Consortium Members, being China Merchants Expressway, CMU, Zhejiang Expressway, Jiangsu Expressway, Sichuan Expressway and Anhui Expressway, entered into the Cooperation Agreement for the formation of the Joint Venture through joint contribution for the purpose of acquiring 51% of the shares and the relevant portion of shareholder loans of the Target Companies.
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47	47	Pursuant to the Cooperation Agreement, the total amount of capital to be injected into the Joint Venture by the Consortium Members shall be US$688.5 million (equivalent to approximately HK$5,369.1 million). The Consortium Members, through their respective wholly owned subsidiaries incorporated in Hong Kong, will contribute approximately US$213.4 million, US$137.7 million, US$120.5 million, US$120.5 million, US$48.2 million and US$48.2 million in the Joint Venture, respectively, holding 31%, 20%, 17.5%, 17.5%, 7% and 7% of the equity interest in the Joint Venture, respectively.
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	43	+== Reasons for the Transaction and Expected Benefits ==
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50		-Reasons for the Transaction and Expected Benefits
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52	52	The boards of directors of Jiangsu Expressway, Sichuan Expressway and Anhui Expressway see the Transaction as a significant business opportunity for their respective groups. Participation in the Transaction will enable the Consortium Members to optimize their allocation of resources as well as perfection of their strategic deployment. The Transaction offers the Consortium Members the opportunity to combine with strong partners, benefiting from the Seller’s deep expertise in operation, management and development of expressways in Turkey and economies of scale arising from the Transaction.
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54	54	[[http:~~/~~/www.anhui-expressway.net/en/upload/2019-12/157715241220844800.pdf>>url:http://www.anhui-expressway.net/en/upload/2019-12/157715241220844800.pdf]]