江苏宁沪高速公路股份有限公司 简式权益变动报告书 上市公司名称：江苏宁沪高速公路股份有限公司 股票上市地点：上海证券交易所 股票简称：宁沪高速 股票代码：600377 信息披露义务人1：江苏交通控股有限公司 注册地址：南京市中山东路291号 信息披露义务人 2：江苏云杉资本管理有限公司 信息披露义务人 5： 苏州金陵南林饭店有限责任公司 注册地址：苏州市滚绣坊20号 签署日期：二〇二五年十一月五日 注册地址： 南京市中山东路291号101室 信息披露义务人 3： 江苏扬子大桥股份有限公司 注册地址：南京市中山东路291号301室 信息披露义务人 4： 江苏交控资产管理有限公司 注册地址：南京市建邺区庐山路242号金融城1期2号楼32F | | | | | | 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之冲突。 三、依据《证券法》、《收购办法》、《准则 15 号》的规定，本报告书已 全面披露了信息披露义务人在江苏宁沪高速公路股份有限公司拥有权益的股份 变动情况。截至本报告书签署之日，除本报告书披露的信息外，信息披露义务人 没有通过任何其他 ...

股票代码：600377 股票简称：宁沪高速 编号：临 2025-053 的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次权益变动属于控股股东增持，本次增持主体为江苏宁沪高速公路股 份有限公司（以下简称"本公司"或"公司"）控股股东江苏交通控股有限公 司（以下简称"江苏交控"）之一致行动人江苏云杉资本管理有限公司（以下 简称"云杉资本"），本次交易未触及要约收购； 本次权益变动后，江苏交控及其一致行动人暨控股子公司江苏云杉资本 管理有限公司、江苏扬子大桥股份有限公司（以下简称"扬子大桥公司"）、 江苏交控资产管理有限公司（以下简称"资管公司"）、苏州金陵南林饭店有 限责任公司（以下简称"南林饭店公司"）（以上合称"信息披露义务人"） 合计持有公司 2,770,760,825 股股份，占公司股份总数的 55.00%； 本次权益变动不会导致本公司控股股东、实际控制人发生变更，不会对 本公司日常生产经营产生重大影响。 2025 年 11 月 4 日本公司收到信息披露义务人出具的《关于权益变动的告 知函 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00177 | 說明 | 境外(香港)上市外資股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,222,000,000 RMB | | | 1 RMB | | 1,222,000,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 1,222,000,000 RMB | | | 1 RMB | | 1,222,000,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- ...

Group 1 - Jiangsu Ninghu Expressway (00177.HK) was increased by Jiangsu Communications Holding Co., Ltd. on October 31, 2025, acquiring 12.954 million shares at an average price of HKD 9.4362 per share, totaling approximately HKD 122 million [1] - Following the acquisition, Jiangsu Communications Holding Co., Ltd. holds a total of 25.998 million shares, increasing its ownership percentage from 1.07% to 2.13% [1][2]

Group 1 - Jiangsu Communications Holding Co., Ltd. increased its stake in Jiangsu Ningtong Expressway (600377) by acquiring 12.954 million shares at a price of HKD 9.4362 per share, totaling approximately HKD 122 million [1] - After the acquisition, Jiangsu Communications Holding's total shareholding in Jiangsu Ningtong Expressway reached approximately 25.998 million shares, representing a holding percentage of 2.13% [1]

Group 1 - Jiangsu Transportation Holding Co., Ltd. increased its stake in Jiangsu Ningtong Expressway (00177) by acquiring 12.954 million shares at a price of HKD 9.4362 per share, totaling approximately HKD 122 million [1] - After the acquisition, the total number of shares held by Jiangsu Transportation is approximately 25.998 million, representing a holding percentage of 2.13% [1]

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份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。 JIANGSU EXPRESSWAY COMPANY LIMITED 江蘇寧滬高速公路股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00177） 須予披露交易 關於向本公司控股子公司提供同比例增資 的 公 告 本 公 司 董 事 會 及 全 體 董 事 保 證 本 公 告 內 容 不 存 在 任 何 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏，並 對 其 內 容 的 真 實 性、準 確 性 和 完 整 性 承 擔 法 律 責 任。 重 要 內 容 提 示： – 1 – 根據《上海證券交易所股票上市規則》，本次增資事項不構成關聯交易。 根 據 香 港 上 市 規 則，本 次 增 資 事 項 構 成 關 連 交 易，但 根 據 香 港 上 市 規則第14A.92(1)條，可 獲 得 全 面 豁 免。本 ...

Investment Rating - The report maintains a "Buy" rating for Ninghu Expressway (600377) [7] Core Views - The company's core road traffic volume shows steady growth, with a single-quarter profit increase year-on-year in Q3 2025 [7] - The report highlights that while the total revenue for Q3 2025 decreased by 12.76% year-on-year, the net profit for the same quarter increased by 3.06% [7] - The toll revenue for the first three quarters of 2025 reached approximately 7.2 billion yuan, reflecting a year-on-year growth of about 1.03% [7] Financial Summary - Total revenue for 2025 is projected at approximately 23.935 billion yuan, with a year-on-year growth rate of 3.2% [6] - The net profit attributable to the parent company for 2025 is estimated to be 5.447 billion yuan, corresponding to a year-on-year growth of 10.1% [6] - The earnings per share (EPS) for 2025 is expected to be 1.08 yuan, with a gross profit margin of 27.1% [6] Traffic Volume Insights - The weighted average traffic volume for the company's controlled road network decreased by 3.66% year-on-year [7] - Specific segments such as the Huning Expressway saw a traffic volume increase of 2.66%, while the Ningchang Expressway experienced a decline of 16.57% due to construction impacts [7] - The Wufengshan Bridge reported a traffic volume increase of 20.07% [7]

Core Viewpoint - Ninghu Expressway's net profit attributable to shareholders for the first three quarters of 2025 is 3.84 billion yuan, a year-on-year decrease of 6.9%, while Q3 net profit is 1.41 billion yuan, a year-on-year increase of 3.1%, indicating that performance meets expectations [1] Revenue and Profitability - Toll revenue remains stable, while auxiliary business income declines, reflecting the effectiveness of cost reduction and efficiency improvement measures [1] - Q3 real estate revenue recognition is approximately 0.03 billion yuan, down 55.9% year-on-year, primarily due to a decrease in the delivery scale of real estate projects by subsidiaries [1] - Other business income is 0.4 billion yuan, down 15.9% year-on-year, mainly due to adjustments in the settlement model of subsidiary advertising businesses and the dismantling of some billboards [1] Cost Management - Operating costs (excluding construction costs) for Q3 are approximately 1.31 billion yuan, down 3.9% year-on-year, resulting in a gross margin of 60%, an increase of 11 percentage points year-on-year, primarily due to cost reduction and efficiency improvements in the toll road business [1] - Financial expenses amount to 0.21 billion yuan, down 16.55% year-on-year, mainly due to further reductions in financing costs [1] Investment Outlook - The company's dividend yield has returned to a favorable range, highlighting its value in a low-interest-rate environment, maintaining an "overweight" rating [1]

Investment Rating - The report maintains a "Buy" rating for Ninghu Expressway (600377) [2][7] Core Insights - The company reported a third-quarter profit growth of 3.06% year-on-year, despite a decline in total revenue for the first three quarters [7] - The toll revenue for the first three quarters was approximately RMB 7.2 billion, showing a year-on-year increase of about 1.03% [7] - The report projects net profits for 2025E-2027E at RMB 5.447 billion, RMB 5.790 billion, and RMB 6.049 billion, respectively, with corresponding PE ratios of 13, 12, and 11 [7] Financial Data Summary - Total revenue for 2025 is estimated at RMB 23.935 billion, with a year-on-year growth rate of 3.2% [6][8] - The net profit for 2025 is projected to be RMB 5.447 billion, reflecting a year-on-year growth of 10.1% [6][8] - The gross profit margin is expected to be 27.1% in 2025, with a return on equity (ROE) of 12.7% [6][8]