香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 (股份編號：00107) 2023年第三季度報告 本 公 告 乃 由 四 川 成 渝 高 速 公 路 股 份 有 限 公 司（「本公司」或「公 司」）根 據 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）證 券 上 市 規 則 第13.09條及香港法例 第571章《證 券 及 期 貨 條 例》第XIVA部 作 出。 本公司的2023年 第 三 季 度 財 務 資 料 未 經 審 核，乃 根 據 中 國 企 業 會 計 準 則 編 製。 一. 重要提示 • 公 司 董 事（「董 事」）會（「董事會」）、監 事 會 及 董 事、監 事、高 級 管 理人員保證2023年第三 季 度 報 告（「季度報告」或「報 告」）內 容 的 真實、準確、完整，不存在虛假記載、誤導性陳述或者重大遺漏， 並 承 擔 個 別 和 連 帶 的 法 律 責 ...

四川成渝高速公路股份有限公司 ( (在中華人民共和國註冊成立之股份有限公司) (股份 编 號：00107) 2023 中 期 報 告 目錄 釋義 2 公司資料 12 公司簡介 16 中期簡明財務信息 18 股本變動及主要股東持股情況 116 董事、監事及高級管理人員情況 120 管理層討論與分析 121 其他重要事項 159 報告期後事項 168 釋義 機場高速 成都機場高速公路 城北出口高速 成都城北出口高速公路 成樂高速 四川成樂（成都－樂山）高速公路 成仁高速 成自瀘赤（成都－自貢－瀘州－赤水）高速公 路成都至眉山（仁壽）段 成雅高速 四川成雅（成都－雅安）高速公路 成渝高速 成渝（成都－重慶）高速公路（四川段） 遂廣高速 四川遂廣（遂寧－廣安）高速公路 遂西高速 四川遂西（遂寧－西充）高速公路 二繞西高速 成都第二繞城高速公路西段 天邛高速 天邛（天府新區－邛崍）高速公路 於本章節中，釋義乃按英文版本(A-Z)排序。 一. 道路項目名稱 四川成渝高速公路股份有限公司 2 釋義（續） 機場高速公司 成都機場高速公路有限責任公司 城北公司 成都城北出口高速公路有限公司 成渝贏創投資 成都成渝贏創股權投資合 ...

Financial Performance - The company's revenue for the six months ended June 30, 2023, was RMB 5,657,375,000, representing an increase of 28.0% compared to RMB 4,433,927,000 for the same period in 2022[2]. - Gross profit for the same period was RMB 1,566,668,000, up 38.3% from RMB 1,133,283,000 in 2022[2]. - The net profit attributable to the owners of the company was RMB 780,353,000, a significant increase of 84.2% compared to RMB 423,813,000 in the previous year[2]. - The company reported a total comprehensive income of RMB 821,602,000 for the period, compared to RMB 463,846,000 in 2022, reflecting a growth of 77.1%[3]. - The company’s basic and diluted earnings per share for the period were RMB 0.255, compared to RMB 0.139 in 2022, reflecting an increase of 83.5%[3]. - The company reported a total of RMB 16,938 thousand in other rental income for the six months ended June 30, 2023, compared to RMB 9,738 thousand in the same period of 2022, marking an increase of about 74%[28][29]. - The company reported a profit of RMB 1,195,682 million for the six months ended June 30, 2023, with notable contributions from the highway and transportation service segments[23]. - The group reported a profit for the period of RMB 827,511 thousand, an increase of RMB 361,712 thousand compared to RMB 465,799 thousand in the same period last year, with highway segment profit rising by 88.03% to RMB 1,033,579 thousand[87]. Assets and Liabilities - The total assets as of June 30, 2023, amounted to RMB 66,583,000,000, a decrease from RMB 72,468,000,000 at the end of 2022[4]. - Current assets totaled RMB 5,605,213,000, an increase from RMB 5,240,887,000 in the previous year[5]. - The company’s non-current liabilities increased to RMB 33,764,253,000 from RMB 29,866,773,000 in 2022, indicating a rise of 12.7%[6]. - The total liabilities as of June 30, 2023, were RMB 40,044,585,000, up from RMB 34,588,353,000 as of December 31, 2022, indicating a rise of approximately 15.5%[27][28]. - The net current liabilities of the group amounted to RMB 675,119,000, compared to net current assets of RMB 519,307,000 as of December 31, 2022[8]. - Total liabilities as of June 30, 2023, were RMB 1,299 million, significantly up from RMB 44 million as of December 31, 2022[16]. - The company’s long-term borrowings without collateral increased to RMB 6,616,700,000 as of June 30, 2023, compared to RMB 2,710,950,000 at the end of 2022, showing a significant rise[62]. Revenue Segments - Segment revenue for the highway division was RMB 2,361,466 million, contributing significantly to the total segment revenue of RMB 5,657,375 million for the six months ended June 30, 2023[23]. - The revenue from toll fees in the highway segment was RMB 2,361,466 thousand for the six months ended June 30, 2023, compared to RMB 1,935,991 thousand for the same period in 2022, reflecting an increase of about 22%[29][31]. - The engineering construction segment generated revenue of RMB 2,032,462 thousand for the six months ended June 30, 2023, compared to RMB 1,381,960 thousand in the same period of 2022, indicating a growth of approximately 47%[29][31]. - The transportation logistics segment saw a remarkable increase in revenue of 3,757.85%, reaching RMB 312,177 thousand, primarily due to the company's active development of the North Grain South Transport project[81]. - The engineering construction segment's revenue rose by 47.07% to RMB 2,032,462 thousand, with significant contributions from service concession contracts and third-party construction projects[81]. Investments and Acquisitions - The group acquired 81% and 19% stakes in Sichuan Rongcheng Second Ring Expressway Development Co., Ltd. from Sichuan Shudao Expressway Group Co., Ltd. and Sichuan Road and Bridge Construction Group Co., Ltd. on April 30, 2023[9]. - The acquisition was accounted for under the merger accounting method as per the Hong Kong Institute of Certified Public Accountants guidelines, consistent with previous financial statements[9]. - The company completed the acquisition of 81% and 19% equity in Rongcheng Errao Company for a total consideration of RMB 5,903,000,000, enhancing its control over toll highways in Sichuan Province[65]. - The company has established a good credit relationship with financial institutions, allowing it to enjoy favorable loan interest rates, with available loan credit limits of RMB 49.702 billion for the next one to two years[99]. Operational Highlights - The overall average daily traffic volume for the Chengyu Expressway was 20,636 vehicles, an increase of 7.78% compared to the same period in 2023[69]. - The toll revenue from the Chengren Expressway increased by 39.50% year-on-year, amounting to RMB 477,746 thousand[69]. - The toll revenue from the Chengle Expressway increased by 20.58% year-on-year, totaling RMB 262,766 thousand[69]. - The company aims to focus on value creation and expand its core highway investment and operation, while also exploring new quality road projects[104]. - The company plans to enhance its new energy sector by developing a "charging, battery bank + battery swap, hydrogen energy" industrial cluster[104]. Governance and Compliance - The company has established a comprehensive governance structure, continuously improving its internal audit and risk management systems[115]. - The company adheres to the corporate governance code and has no significant discrepancies with the requirements of the corporate governance standards[116]. - The audit committee consists of three independent non-executive directors, confirming the unaudited interim financial information as of June 30, 2023[117]. - The company is committed to continuous improvement in governance to enhance shareholder value[115]. - The company has confirmed compliance with the standards for securities trading by directors and supervisors, with no violations reported[118]. Employee and Social Responsibility - Employee compensation totaled approximately RMB 317,939 thousand during the reporting period, with the company's own employee compensation amounting to about RMB 156,359 thousand[112]. - The workforce consisted of 4,603 employees, including 3,231 production personnel and 663 technical personnel[110]. - The company strictly adheres to labor protection policies and provides various social insurance for its employees[113]. - The company organized various training programs, with a total of 19,559 participants, including 8,831 from the company and its subsidiaries[114].

Financial Performance - The company's operating revenue for Q1 2023 was RMB 1,989,710,755.95, representing a decrease of 1.26% compared to the same period last year[5] - Net profit attributable to shareholders of the listed company reached RMB 436,477,960.34, an increase of 73.58% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 416,658,010.91, up 75.75% from the previous year[5] - The basic earnings per share for the period was RMB 0.1427, reflecting a 73.60% increase compared to the same period last year[5] - The diluted earnings per share also stood at RMB 0.1427, marking a 73.60% increase year-on-year[5] - The weighted average return on net assets was 2.31%, an increase of 0.87 percentage points[5] - In Q1 2023, the net profit for Q1 2023 was 467,446,931.86 CNY, compared to 266,967,024.84 CNY in Q1 2022, indicating a year-over-year increase of about 75%[31] - Earnings per share (EPS) for Q1 2023 was 0.1427 CNY, up from 0.0822 CNY in Q1 2022, reflecting a growth of approximately 73%[34] - Operating profit for Q1 2023 reached 553,131,894.61 CNY, compared to 328,316,941.70 CNY in Q1 2022, marking an increase of around 68%[30] Cash Flow and Assets - The net cash flow from operating activities was RMB 667,406,119.33, down 6.79% compared to the previous year[5] - As of March 31, 2023, total current assets increased to CNY 5,545,705,380.65 from CNY 3,970,037,430.35 as of December 31, 2022, representing a growth of approximately 39.6%[20] - Cash and cash equivalents rose significantly to CNY 3,395,311,534.69 from CNY 2,552,133,327.65, marking an increase of about 33.1%[20] - Total non-current assets reached CNY 36,776,827,926.78, up from CNY 36,287,297,539.95, indicating a growth of approximately 1.4%[21] - Total liabilities increased to CNY 23,135,335,903.36 from CNY 21,536,718,999.98, reflecting a rise of about 7.4%[24] - The company generated cash inflows from operating activities totaling 1,807,538,582.14 CNY in Q1 2023, down from 1,970,325,675.15 CNY in Q1 2022, a decrease of about 8%[36] - The net increase in cash and cash equivalents for Q1 2023 was 843,160,207.04, contrasting with a decrease of -384,879,910.53 in Q1 2022, showing a positive cash position[40] Shareholder Information - The total number of common shareholders at the end of the reporting period was 48,196, including 47,942 A-share shareholders and 254 H-share shareholders[16] - Sichuan Transportation Investment Group holds 1,157,865,662 shares, accounting for 37.86% of total shares[13] - HKSCC NOMINEES LIMITED holds 887,404,700 shares, representing 29.02% of total shares[13] - The top ten shareholders hold a total of 2,740,000,000 shares, which is approximately 89.39% of the total shares[15] - The company has not disclosed any related party relationships among the top shareholders[14] Investment Projects - The Chengle Expressway expansion project has an estimated total investment of approximately RMB 251.5 billion, with cumulative investment completed as of March 31, 2023, amounting to RMB 10.34 billion[17] - The Tianqiong Expressway BOT project has an estimated total investment of approximately RMB 86.85 billion, with cumulative investment completed as of March 31, 2023, amounting to RMB 3.146 billion[18] - The Chengle Expressway expansion project is expected to alleviate traffic pressure and improve overall traffic capacity and service levels[17] - The project company for the Tianqiong Expressway was established with a registered capital of RMB 1.737 billion, of which the company subscribed RMB 1.42434 billion[18] Expenses and Costs - Total operating costs for Q1 2023 were CNY 1,497,116,484.94, down from CNY 1,704,728,358.79 in Q1 2022, representing a decrease of about 12.2%[27] - Research and development expenses for Q1 2023 were CNY 76,427,558.61, compared to CNY 102,212,967.84 in Q1 2022, a reduction of approximately 25.3%[28] - Interest expenses decreased to 89,656,885.15 CNY in Q1 2023 from 116,037,558.30 CNY in Q1 2022, a reduction of about 23%[30] - Cash outflow for purchasing fixed assets and other long-term assets in Q1 2023 was 1,200,340,004.64, an increase from 950,775,036.67 in Q1 2022, suggesting increased capital expenditure[38] - Cash paid for financing activities in Q1 2023 was 478,850,228.47, slightly lower than 506,639,111.39 in Q1 2022, indicating a reduction in financing costs[39]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-on-year increase of 15%[19]. - The company reported a total revenue of 8 billion RMB for the fiscal year ending December 31, 2022[21]. - The company achieved a net revenue of approximately RMB 9,763,056 thousand in 2022, representing a year-on-year growth of about 10.56%[41]. - The company's net profit attributable to shareholders for 2022 was approximately RMB 764,821 thousand, a decrease of 59.12% year-on-year[29]. - Basic earnings per share for 2022 were approximately RMB 0.25, compared to RMB 0.612 in 2021[29]. - The company's total comprehensive income for the year was RMB 828,647 thousand, down from RMB 2,154,187 thousand in the previous year, marking a decline of 61.5%[182]. - The group's profit for the year was RMB 816,875 thousand, a decrease of 58.13% compared to RMB 1,951,016 thousand in the previous year[65]. - The company's pre-tax profit for 2022 was RMB 1,088,979 thousand, down from RMB 2,288,196 thousand in 2021, indicating a decrease of approximately 52.4%[57]. Revenue Segmentation - The highway segment reported a net revenue of approximately RMB 3,102,301 thousand, a decline of about 10.49% compared to the previous year[41]. - The new energy technology segment generated a net revenue of approximately RMB 11,665 thousand, marking a significant increase of 46,556% year-on-year[42]. - The transportation logistics segment saw a remarkable revenue increase of approximately 780.60%, reaching RMB 322,397 thousand[41]. - The engineering construction segment achieved a net revenue of approximately RMB 4,210,364 thousand, reflecting a year-on-year growth of about 61.26%[41]. Dividend and Shareholder Returns - The company declared a final dividend of RMB 0.15 per share, subject to approval at the upcoming annual general meeting[19]. - The board has proposed a final cash dividend of RMB 0.10 per share, totaling approximately RMB 305,806 thousand, which accounts for 47.96% of the distributable profits[29]. - The board has approved a dividend payout of 1.5 billion RMB, reflecting a commitment to returning value to shareholders[23]. - The proposed final cash dividend for the fiscal year 2022 is RMB 0.10 per share, totaling approximately RMB 305,806 thousand, which represents 47.96% of the distributable profits calculated under Chinese accounting standards[178]. Operational Developments - User traffic on the highways managed by the company increased by 10% compared to the previous year, with an average daily traffic volume of 150,000 vehicles[19]. - The company plans to expand its highway network by 300 kilometers over the next three years, focusing on underserved regions[19]. - The company has launched a new mobile app that has already attracted 500,000 downloads within the first month, aimed at improving customer engagement[19]. - The company is exploring public-private partnership (PPP) projects to fund future infrastructure developments, with an initial investment of RMB 300 million planned[19]. - The company plans to launch a new expressway service model aimed at improving customer satisfaction by Q3 2023[22]. Strategic Initiatives - A merger with Sichuan Railway Industry Investment Group is expected to be finalized by Q3 2023, which will enhance operational capabilities[19]. - The company has completed a strategic acquisition of a local construction firm for 300 million RMB to enhance project delivery capabilities[22]. - The company is committed to achieving a good start for the "14th Five-Year Plan" and completing the three-year action plan for state-owned enterprise reform[28]. - The company aims to enhance its competitive advantage in the traditional core business while fostering innovation and reform[28]. Market Expansion and Future Outlook - The company has set a target for a revenue growth of 20% for the upcoming fiscal year, driven by new projects and expansions[19]. - Market expansion plans include entering two new provinces by the end of 2023, targeting a 20% increase in market share[23]. - Future outlook includes a focus on sustainable infrastructure development, aligning with national policies[23]. - The company aims to innovate in technology and promote low-carbon smart engineering, including the development of intelligent construction equipment and a comprehensive management platform for highway operations[36]. Risk Management and Compliance - The company is actively promoting compliance management and risk prevention measures to ensure stable development[33]. - The company acknowledges the ongoing challenges in the macroeconomic environment, including high global inflation and domestic economic pressures, while maintaining confidence in the resilience and potential of the Chinese economy[35]. - The company is committed to improving financial management and risk prevention through budget assessments and the promotion of financial digital transformation[36]. - The company has established a comprehensive risk management and internal control system, ensuring the effectiveness of financial, operational, and regulatory controls[147]. Corporate Governance - The company has established a comprehensive governance structure, including various committees to enhance corporate governance practices[89]. - The board has established four specialized committees to assist in fulfilling its responsibilities effectively[111]. - The company emphasizes the importance of independent non-executive directors in maintaining the overall interests of the company and protecting shareholders' rights[112]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set by the stock exchange[123]. Environmental, Social, and Governance (ESG) Initiatives - The company has established an ESG leadership group to oversee environmental, social, and governance matters, with the chairman leading the initiative[175]. - The ESG working office is responsible for establishing a comprehensive ESG data account and setting ESG performance goals[176]. - The company is committed to optimizing its risk management and internal control systems continuously, ensuring clear responsibilities and efficient execution[93].

Financial Performance - Revenue increased by approximately 10.56% to approximately RMB 9,763,056 thousand[2] - Profit attributable to owners decreased by approximately 59.12% to approximately RMB 764,821 thousand[2] - Earnings per share decreased by approximately 59.15% to approximately RMB 0.250[2] - Proposed final cash dividend for 2022 is RMB 0.10 per share (tax included), down from RMB 0.11 per share in 2021[2] - Gross profit for the year was RMB 1,628,756 thousand, down from RMB 2,133,313 thousand in 2021[3] - Other income and gains decreased significantly to RMB 271,250 thousand from RMB 1,153,472 thousand[3] - Total comprehensive income for the year was RMB 828,647 thousand, down from RMB 2,154,187 thousand in 2021[4] - Total revenue for 2022 reached RMB 9,591,906 thousand, an increase of 11.4% from RMB 8,606,123 thousand in 2021[26] - The adjusted profit before tax for the group was RMB 1,088,979 thousand, reflecting a significant increase in profitability compared to the previous year[17] - The company reported a total liability of RMB 21,348,017 thousand, with the Highway segment accounting for RMB 19,854,206 thousand[18] Segment Performance - For the year ended December 31, 2022, total segment revenue reached RMB 9,763,056 thousand, with the highest contribution from the Highway segment at RMB 3,102,301 thousand[17] - The segment profit for the Highway division was RMB 1,018,147 thousand, indicating a robust performance despite market challenges[17] - Customer contract revenue from toll fees amounted to RMB 3,102,301 thousand, while construction services generated RMB 4,210,364 thousand in 2022[27] - The engineering construction segment achieved revenue of approximately RMB 4,210,364 thousand, reflecting a year-on-year growth of about 61.26%[70] - The highway segment reported revenue of approximately RMB 3,102,301 thousand, a year-on-year decrease of about 10.49%[70] Assets and Liabilities - Non-current assets totaled RMB 35,218,523 thousand, an increase from RMB 33,357,866 thousand in 2021[5] - Current liabilities totaled RMB 3,729,995 thousand, up from RMB 3,432,636 thousand in 2021[6] - Total equity attributable to owners was RMB 17,805,667 thousand, compared to RMB 17,364,995 thousand in 2021[6] - The total assets of the group as of December 31, 2022, were approximately RMB 40,068,636 thousand, with a net asset value of approximately RMB 18,720,619 thousand[65] - The total liabilities of the company stood at RMB 22,199,036 thousand as of December 31, 2021[22] Cash Flow and Financing - The net cash outflow from operating activities for the year was RMB 1,911,580 thousand, an improvement of RMB 173,105 thousand compared to the previous year's outflow of RMB 2,084,685 thousand[106] - The net cash inflow from investing activities was RMB 228,318 thousand, a decrease of RMB 1,672,920 thousand compared to the previous year[107] - The total bank loans amounted to RMB 17,871,410 thousand, with RMB 1,865,449 thousand due within one year, RMB 5,152,245 thousand due within five years, and RMB 10,853,716 thousand due after five years[111] - The group has secured a loan credit limit of RMB 43.859 billion from financial institutions for the next one to two years[111] Strategic Initiatives - The company aims to strengthen its core business in highway investment, construction, and management while developing green energy initiatives focused on charging and hydrogen energy[69] - The company plans to continue expanding its presence in the New Energy Technology sector, reflecting a strategic shift towards sustainable growth[17] - The company is focusing on expanding its new energy sector, including the construction of charging stations and the development of a smart energy management platform[116] - The company is actively exploring market expansion channels and seeking quality mature road assets to promote the scale of road assets[116] Governance and Compliance - The company has adopted and complied with the corporate governance code as per the Stock Exchange listing rules, ensuring improved governance standards[127] - The audit committee, composed of three independent non-executive directors, has reviewed the annual performance for the year ending December 31, 2022, and confirmed compliance with applicable accounting standards[128] - The company has established a set of conduct rules that meet or exceed the standards set by the Standard Code regarding securities trading by directors and supervisors[129] Employee and Training - As of December 31, 2022, the total employee salary expenses amounted to approximately RMB 564.723 million, with RMB 303.487 million attributed to the company itself[124] - The company has a total of 4,150 employees, including 2,842 production personnel and 586 technical personnel[122] - The company has organized various training programs, with a total participation of 21,575 person-times in skills and professional training during the reporting period[126]

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,881,908,701.12, a decrease of 22.81% compared to the same period last year[4] - Net profit attributable to shareholders for the same period was CNY 158,968,448.23, down 39.62% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 152,626,462.75, reflecting a decrease of 38.40% compared to the previous year[4] - Basic earnings per share for Q3 2022 were CNY 0.0519, a decline of 39.72% year-on-year[4] - The net profit attributable to shareholders decreased by 31.33% year-to-date due to the impact of the pandemic, rising oil prices, and economic downturn, leading to reduced toll revenue and other business income[10] - The net profit attributable to shareholders for the current reporting period decreased by 39.62%, primarily due to regional lockdowns caused by the recurring COVID-19 pandemic, severely impacting toll revenue and related business income[10] - Basic earnings per share decreased by 31.35% year-to-date, reflecting the decline in net profit attributable to shareholders compared to the same period last year[14] - Diluted earnings per share for the current reporting period decreased by 39.72%, primarily due to the reduction in net profit attributable to shareholders compared to the previous year[14] - Operating profit for the first three quarters of 2022 was approximately ¥882.3 million, a decrease of 30.3% compared to ¥1.27 billion in the same period of 2021[32] - Net profit for the first three quarters of 2022 was approximately ¥693.5 million, down 31.6% from ¥1.01 billion in the first three quarters of 2021[32] - Total comprehensive income for the first three quarters of 2022 was approximately ¥486.1 million, a decline of 52.1% compared to ¥1.02 billion in the same period of 2021[33] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 42,102,535,167.28, representing an increase of 3.37% from the end of the previous year[5] - Equity attributable to shareholders at the end of the reporting period was CNY 17,683,254,833.37, up 1.83% from the previous year[5] - Total liabilities increased to CNY 23.33 billion as of September 30, 2022, compared to CNY 22.28 billion at the end of 2021, reflecting a growth of approximately 4.7%[29] - Current liabilities totaled CNY 4.56 billion, up from CNY 3.47 billion, marking an increase of about 31.4% year-over-year[28] - The company's long-term borrowings slightly increased to CNY 17.12 billion as of September 30, 2022, from CNY 17.10 billion at the end of 2021[29] - The company's retained earnings rose to CNY 5.94 billion as of September 30, 2022, compared to CNY 5.41 billion at the end of 2021, an increase of about 9.8%[29] - The total equity attributable to shareholders increased to CNY 17.68 billion, up from CNY 17.36 billion, reflecting a growth of approximately 1.9%[29] Cash Flow - The company reported a net cash flow from operating activities of CNY 1,755,630,288.62, an increase of 32.86% year-on-year[4] - The net cash flow from operating activities increased by 32.86% year-to-date, attributed to reduced financing lease investments and the exclusion of the real estate business from the consolidated financial statements[13] - Cash flow from operating activities for the first three quarters of 2022 was approximately ¥1.76 billion, an increase of 32.9% compared to ¥1.32 billion in the first three quarters of 2021[36] - Cash inflow from investment activities for the first three quarters of 2022 was approximately ¥584.5 million, compared to ¥100.9 million in the same period of 2021[36] - Cash outflow from investment activities for the first three quarters of 2022 was approximately ¥2.38 billion, a decrease of 14.6% compared to ¥2.79 billion in the same period of 2021[36] - Cash inflow from financing activities totaled approximately ¥1.85 billion in the first three quarters of 2022, a decrease of 65.3% compared to ¥5.32 billion in the same period of 2021[37] - The net cash flow from financing activities was negative at approximately -¥138.88 million in 2022, contrasting with a positive cash flow of ¥1.00 billion in 2021[37] - The company experienced a net decrease in cash and cash equivalents of approximately -¥181.97 million in 2022, an improvement from -¥364.42 million in 2021[37] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,881[15] - The largest shareholder, Sichuan Transportation Investment Group Co., Ltd., holds 1,157,865,662 shares, representing 37.86% of the total shares[16] - HKSCC Nominees Limited, an overseas entity, holds 887,330,700 shares, accounting for 29.02% of the total shares[16] - As of September 30, 2022, the total number of common shareholders was 50,881, with A-share shareholders accounting for 50,625 and H-share shareholders for 256[22] Projects and Investments - The Chengle Expressway expansion project has a total length of 136.1 kilometers and an estimated total investment of RMB 251.5 billion, with cumulative investment reaching approximately RMB 8.55 billion as of September 30, 2022[23] - The Tianqiong Expressway project has an estimated total investment of RMB 8.685 billion, with cumulative investment amounting to approximately RMB 2.231 billion as of September 30, 2022[24] - The company is actively involved in PPP projects, with significant investments in infrastructure aimed at improving traffic capacity and service levels[23] Other Financial Metrics - Non-operating income for the reporting period included government subsidies of CNY 5,984,872.31, compared to CNY 19,502,194.52 in the previous year[6] - The company's financial expenses, including interest expenses, decreased to CNY 301.44 million in 2022 from CNY 402.37 million in 2021, a reduction of about 25%[31] - Revenue from sales of goods and services for the first three quarters of 2022 was approximately ¥5.27 billion, a slight decrease of 2.0% from ¥5.38 billion in the same period of 2021[35] - The company experienced a reduction in cash received from other operating activities, totaling approximately ¥58.3 million in 2022, down from ¥122.0 million in 2021[35] - Dividend payments increased to approximately ¥992.91 million in 2022, compared to ¥886.66 million in 2021, reflecting a growth of 12%[37]

Revenue and Profitability - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching RMB 1.5 billion, representing a year-on-year growth of 15%[17]. - The company reported a net profit margin of 25% for the first half of 2022, indicating strong operational efficiency[17]. - Revenue for the six months ended June 30, 2022, was RMB 4,085,534 thousand, a slight increase of 1.56% compared to RMB 4,022,892 thousand for the same period in 2021[49]. - The company reported a net profit of RMB 527,620 thousand, down 28.0% from RMB 731,660 thousand in the same period last year[50]. - The attributable profit to the owners of the company was approximately RMB 485,663 thousand, a decrease of 27.91% compared to the previous year[178]. - The segment profit for toll bridges was RMB 613,998 thousand, down from RMB 769,519 thousand in the previous year, indicating a decrease of about 20.2%[80][81]. - The segment profit for urban operations was RMB 32,475 thousand, compared to RMB 79,150 thousand in the prior year, reflecting a decline of approximately 59.0%[80][81]. Traffic and Operations - User data showed an increase in traffic volume on the highways managed by the company, with an average daily traffic increase of 10% compared to the same period last year[19]. - The average daily traffic flow on Chengyu Expressway was 19,146 vehicles, with toll revenue of RMB 343,690 thousand, a decrease of 10.32% compared to the previous year[179]. - The company operates several major expressways in Sichuan Province, including Chengyu Expressway, Chengya Expressway, and Chengle Expressway, contributing to its revenue streams[47]. Future Outlook and Expansion - The company has outlined its future outlook, projecting a revenue growth of 20% for the second half of 2022, driven by increased traffic and new projects[24]. - The company is actively pursuing market expansion strategies, including the development of new highway projects in Sichuan province, which are projected to add an additional 200 kilometers of expressway by 2025[30]. - New product developments include the expansion of the Chengle Expressway, which is expected to enhance connectivity and increase traffic flow[29]. - The company plans to increase its capital expenditure by 30% in 2023 to support ongoing and new projects[24]. Financial Position and Assets - The total assets and net assets of the group are approximately RMB 40,588,072,000 and RMB 18,579,815,000, respectively[47]. - The company has established a strong financial foundation with a significant net asset value, which supports future growth and investment opportunities[47]. - The company’s total assets as of June 30, 2022, were RMB 17,000,183,000, compared to RMB 15,975,000,000 at the end of 2021, reflecting an increase of approximately 6.4%[62]. - The company’s total liabilities decreased to RMB 22,008,257 thousand from RMB 22,199,036 thousand at the end of 2021[195]. Strategic Acquisitions and Investments - The company has completed several strategic acquisitions, including the acquisition of a logistics company, which is expected to enhance operational efficiency and service offerings[36]. - The company plans to transfer a 44.95% equity stake in Chengyu Leasing Company to a related party, valued at RMB 296.67 million, which reflects its strategic asset management approach[48]. - The company is investing in new technologies to improve traffic management systems, aiming to reduce congestion by 15% in the next two years[38]. Financial Performance Metrics - Basic and diluted earnings per share for the period were RMB 0.159, down from RMB 0.220 in the previous year[54]. - The company’s total comprehensive income for the period was RMB 525,667 thousand, a decrease of 29.3% from RMB 743,048 thousand in the same period last year[53]. - The company’s cash flow from operating activities showed a decrease in financing costs to RMB 229,354,000 from RMB 299,790,000 year-over-year, reflecting a reduction of approximately 23.4%[63]. Challenges and Risks - The toll revenue (before turnover tax) decreased by approximately 11.68% year-on-year, totaling around RMB 1,601,437 thousand[180]. - The financial investment segment's revenue decreased by 8.65% to RMB 91,273 thousand, affected by regional lockdowns and economic uncertainties[199]. - The company reported a net loss from foreign exchange of RMB 4,580 thousand for the six months ended June 30, 2022, with no such loss reported in the same period of 2021[64]. Compliance and Reporting - The company has applied the revised Hong Kong Financial Reporting Standards prospectively, with no significant impact on financial performance or position noted[76][79]. - The financial information for the first half of 2022 was approved by the board of directors on August 25, 2022[166].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 2,015,032,769.84, representing a year-on-year increase of 41.84%[5] - Net profit attributable to shareholders was CNY 251,456,568.73, showing a decrease of 19.66% compared to the same period last year[5] - Basic and diluted earnings per share were both CNY 0.0822, down 19.65% from the previous year[5] - Total operating revenue for Q1 2022 reached ¥2,015,032,769.84, a significant increase of 42% compared to ¥1,420,687,417.39 in Q1 2021[32] - Net profit for Q1 2022 was ¥266,967,024.84, a decrease of 21% from ¥338,077,382.08 in Q1 2021[36] - Earnings per share for Q1 2022 were ¥0.0822, down from ¥0.1023 in Q1 2021[39] - The company reported a total comprehensive income of ¥266,540,997.26 for Q1 2022, compared to ¥339,994,506.18 in Q1 2021[39] Cash Flow and Liquidity - The net cash flow from operating activities reached CNY 715,997,285.82, an increase of 66.88% year-on-year[5] - Operating cash inflow for Q1 2022 was approximately $1.97 billion, an increase from $1.90 billion in Q1 2021, representing a growth of 3.4%[41] - Net cash outflow from operating activities in Q1 2022 was $716 million, compared to $429 million in Q1 2021, indicating a significant increase of 67%[42] - Cash flow from investing activities showed a net outflow of approximately $981 million in Q1 2022, worsening from a net outflow of $813 million in Q1 2021[43] - Cash inflow from financing activities in Q1 2022 was $387 million, a decrease from $1.52 billion in Q1 2021, reflecting a decline of 74.5%[44] - The net cash and cash equivalents decreased by approximately $385 million in Q1 2022, contrasting with an increase of $84 million in Q1 2021[45] - The ending cash and cash equivalents balance for Q1 2022 was approximately $3.45 billion, compared to $3.26 billion at the end of Q1 2021, showing a year-over-year increase of 5.8%[45] Assets and Liabilities - Total assets at the end of the reporting period were CNY 40,805,830,525.04, a slight increase of 0.19% from the end of the previous year[6] - Current liabilities totaled RMB 3.85 billion as of March 31, 2022, compared to RMB 3.47 billion on December 31, 2021[28] - Total liabilities as of March 31, 2022, amounted to ¥22,094,369,781.21, slightly down from ¥22,280,603,363.36 at the end of 2021[30] - Total non-current liabilities decreased to ¥18,241,285,986.90 from ¥18,813,583,948.78 at the end of 2021[30] - As of March 31, 2022, the total current assets amounted to RMB 6.34 billion, a decrease of 5.1% from RMB 6.68 billion on December 31, 2021[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 55,801[11] - The top shareholder, Sichuan Transportation Investment Group, holds 1,096,769,662 shares, accounting for 35.86% of total shares[12] - HKSCC NOMINEES LIMITED holds 887,600,700 shares, representing 29.02% of total shares[12] - China Merchants Highway Network Technology Holdings holds 664,487,376 shares, which is 21.73% of total shares[12] - As of the report date, the total number of common shareholders is 55,801, including 55,545 A-share shareholders and 256 H-share shareholders[15] Project Developments - The Chengle Expressway expansion project has an estimated total investment of approximately RMB 231.33 billion, with cumulative investment completed by March 31, 2022, amounting to RMB 79.13 billion[17] - The Tianqiong Expressway BOT project has an estimated total investment of approximately RMB 86.85 billion, with cumulative investment completed by March 31, 2022, amounting to RMB 14.49 billion[18] - The company has completed the construction of the Chengle Expressway expansion project, which enhances overall traffic capacity and service levels[17] - The company has established a project company for the Tianqiong Expressway, with a registered capital of RMB 1.737 billion, of which the company has subscribed RMB 1.42434 billion[18] Acquisitions and Terminations - The company agreed to terminate the acquisition of overseas assets with the consortium on January 27, 2022[20] - The company signed a termination agreement with the seller on March 9, 2022, officially ending the acquisition project[20] - The company approved the acquisition of 100% equity of the Transportation Construction Company, with a cash payment of RMB 369.195 million for a 5% stake[22] Financial Management - The decrease in net profit was primarily due to reduced toll revenue from vehicle traffic and lower profit margins on refined oil products influenced by the pandemic and international oil price fluctuations[10] - Non-recurring gains and losses included CNY 185,898.98 from the disposal of non-current assets and CNY 6,076,323.93 from government subsidies[7] - The company reported a long-term investment of RMB 442.09 million as of March 31, 2022, consistent with the previous period[26] - The company’s financial expenses for Q1 2022 were ¥102,212,967.84, down from ¥140,268,422.59 in Q1 2021[32] - The company’s investment income for Q1 2022 was ¥11,510,176.55, slightly up from ¥11,068,519.97 in Q1 2021[32] - The company’s deferred income tax liabilities as of March 31, 2022, were ¥38,232,791.77, compared to ¥38,346,079.95 at the end of 2021[30] - The company’s short-term borrowings decreased significantly to RMB 21.70 million from RMB 65.18 million[27] - The company’s accounts payable decreased to RMB 742.96 million from RMB 888.55 million, indicating improved liquidity management[27]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1,200 million in 2021, representing a growth of 15% compared to the previous year[1]. - The company's net profit attributable to shareholders for 2021 was approximately RMB 1,870,856 thousand, representing a year-on-year increase of 177.24%[96]. - Basic earnings per share for 2021 were approximately RMB 0.612, compared to RMB 0.221 in 2020[96]. - The company achieved a net revenue of approximately RMB 8,830,296 thousand in 2021, representing a year-on-year growth of about 7.70%[110]. - The toll bridge segment generated a net revenue of approximately RMB 3,465,849 thousand, with a year-on-year increase of approximately 15.23%[110]. - The financial investment segment reported a net revenue of approximately RMB 199,177 thousand, marking a year-on-year increase of about 6.69%[110]. - The energy investment segment achieved a net revenue of approximately RMB 1,788,847 thousand, with a year-on-year growth of approximately 22.60%[110]. - The urban operations segment experienced a decline in net revenue, totaling approximately RMB 3,376,423 thousand, down about 4.76% year-on-year[110]. - The group's profit for the year was RMB 1,951,016 thousand, an increase of 165.84% compared to last year's RMB 733,897 thousand[142]. Strategic Initiatives - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 1,320 million, driven by new product launches and market expansion[1]. - New product development includes the launch of a smart traffic management system, expected to enhance operational efficiency and reduce congestion by 30%[1]. - The company is expanding its market presence by entering two new provinces, which is anticipated to increase user base by an additional 1 million users[1]. - Future strategies include enhancing digital infrastructure, with an investment of 100 million planned for the next fiscal year[1]. - The company plans to implement a new customer loyalty program, which is expected to increase customer retention rates by 15%[1]. - The company aims to achieve significant progress in its main business by coordinating the advancement of proposed and ongoing highway projects, actively integrating into national and provincial transportation development strategies[105]. - The company plans to expand its industry scale and accelerate growth by focusing on technological and green dual-driven development, emphasizing market-oriented reforms and innovation[105]. Operational Efficiency - The company reported a net profit margin of 25% for 2021, indicating strong operational efficiency[1]. - The total assets of the company increased to 2,500 million, reflecting a growth of 12% from the previous year[1]. - The company has completed a strategic acquisition of a local logistics firm for 50 million, aimed at improving supply chain efficiency[1]. - The company has successfully navigated the impacts of the pandemic and natural disasters, demonstrating resilience and adaptability[95]. - The company maintained a AAA credit rating for six consecutive years, reflecting strong financial management practices[101]. - The company has implemented a multi-level internal control system to mitigate risks associated with new business ventures[102]. Market and Economic Context - The overall economic environment in 2021 showed a GDP growth of 8.1%, supporting the recovery of traffic volume on the company's expressways[117]. - The company's contribution from the service industry to economic growth reached 54.9% in 2021, indicating a robust recovery[99]. - The company recognizes the ongoing challenges in the macroeconomic environment, including demand contraction and supply shocks, but maintains a long-term positive outlook for economic development[104]. Governance and Shareholder Relations - The company has established a governance structure that includes a board of directors, supervisory board, and management team, continuously improving its governance practices[172]. - Major shareholders include Shudao Group and China Merchants Highway Company, with no interference in company decisions[179]. - The company emphasizes equal treatment of all shareholders, ensuring their rights are protected[178]. - The company held a total of 4 shareholder meetings in 2021, with significant resolutions passed at each meeting[189]. - The company encourages shareholder participation and provides contact details for inquiries to the board secretary[200]. Risk Management - The company has established a comprehensive risk management and internal control system, which has been effective in managing operational risks[176]. - The board of directors has confirmed that there are no significant deficiencies in the risk management and internal control systems as of December 31, 2021[176]. - The company emphasizes risk prevention and control, enhancing emergency response capabilities, and maintaining safety and environmental standards[170].