Financial Performance - The company's operating revenue for Q1 2025 was CNY 6,895,682,446, representing a 4.47% increase compared to CNY 6,600,382,306 in the same period last year[5] - Net profit attributable to shareholders decreased by 14.40% to CNY 468,184,864 from CNY 546,940,436 year-on-year[5] - The net profit after deducting non-recurring gains and losses fell by 23.02% to CNY 416,187,540 compared to CNY 540,658,598 in the previous year[5] - Basic and diluted earnings per share decreased by 14.29% to CNY 0.066 from CNY 0.077 year-on-year[5] - Net profit for Q1 2025 was CNY 469,320,847, down 14.26% from CNY 547,495,690 in Q1 2024[17] - The company reported a basic earnings per share of CNY 0.066 for Q1 2025, down from CNY 0.077 in Q1 2024[19] Cash Flow and Assets - The net cash flow from operating activities was CNY 849,822,972, down 5.58% from CNY 900,003,348 in the same period last year[5] - Cash and cash equivalents at the end of Q1 2025 were CNY 2,335,160,601, down from CNY 2,617,982,772 in Q1 2024[21] - Operating cash flow for Q1 2025 was CNY 849,822,972, a decrease from CNY 900,003,348 in Q1 2024[21] - Total assets at the end of the reporting period were CNY 36,189,454,267, a decrease of 1.03% from CNY 36,567,255,729 at the end of the previous year[5] - Total assets as of March 31, 2025, amounted to CNY 36,189,454,267, a decrease from CNY 36,567,255,729 at the end of 2024[15] Shareholder Equity - Shareholders' equity attributable to shareholders increased by 1.95% to CNY 27,638,428,357 from CNY 27,109,235,057 at the end of the previous year[5] - The total equity attributable to shareholders increased to CNY 27,638,428,357 from CNY 27,109,235,057[15] Liabilities - Total liabilities decreased to CNY 8,589,904,968 from CNY 9,498,035,713, reflecting a reduction of 9.57%[15] Government Support - The company received government subsidies amounting to CNY 79,842,279, which positively impacted the financial results[7] Future Outlook - The company plans to continue focusing on operational efficiency and cost management to improve profitability in the upcoming quarters[22]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 6,895,682,446, representing a 4.47% increase compared to CNY 6,600,382,306 in the same period last year[7]. - Net profit attributable to shareholders decreased by 14.40% to CNY 468,184,864 from CNY 546,940,436 year-on-year[7]. - The net profit after deducting non-recurring gains and losses fell by 23.02% to CNY 416,187,540 compared to CNY 540,658,598 in the previous year[7]. - Basic and diluted earnings per share decreased by 14.29% to CNY 0.066 from CNY 0.077 year-on-year[7]. - The company reported a total profit of RMB 655,371,080 for Q1 2025, compared to RMB 761,655,302 in Q1 2024, reflecting a decline of 13.9%[24]. - Net profit for Q1 2025 was RMB 469,320,847, a decrease of 14.3% from RMB 547,495,690 in Q1 2024[26]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 849,822,972, down 5.58% from CNY 900,003,348 in the same period last year[7]. - Cash flow from operating activities for Q1 2025 was RMB 849,822,972, a decrease from RMB 900,003,348 in Q1 2024[28]. - Cash and cash equivalents increased to RMB 2,335,160,601 from RMB 1,934,900,900, representing a growth of about 20.73%[16]. - Cash and cash equivalents at the end of Q1 2025 totaled RMB 2,335,160,601, down from RMB 2,617,982,772 at the end of Q1 2024[30]. - The company did not report any cash inflow from new borrowings in Q1 2025, compared to RMB 400,000,000 in Q1 2024[30]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 36,189,454,267, a decrease of 1.03% from CNY 36,567,255,729 at the end of the previous year[7]. - Total liabilities decreased to RMB 8,589,904,968 from RMB 9,498,035,713, reflecting a reduction of approximately 9.59%[22]. - Total non-current assets decreased to RMB 26,475,524,036 from RMB 26,912,857,550, a decline of about 1.62%[18]. - The company reported a total asset value of RMB 36,189,454,267 as of March 31, 2025, down from RMB 36,567,255,729 as of December 31, 2024, a decrease of approximately 1.04%[22]. - Short-term borrowings were eliminated, down from RMB 300,176,917 as of December 31, 2024[20]. - Accounts payable decreased to RMB 2,118,949,676 from RMB 2,650,474,072, a decline of approximately 20.00%[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 159,867[12]. - The largest shareholder, China Railway Guangzhou Group Co., Ltd., held 37.12% of the shares, totaling 2,629,451,300 shares[12]. - Equity attributable to shareholders increased by 1.95% to CNY 27,638,428,357 from CNY 27,109,235,057 year-on-year[7]. - Total equity attributable to shareholders increased to RMB 27,638,428,357 from RMB 27,109,235,057, marking a growth of about 1.94%[22]. Operating Costs and Expenses - Total operating costs increased to RMB 6,319,182,431 in Q1 2025, up 7.8% from RMB 5,860,611,391 in Q1 2024[24]. - Financial expenses increased significantly to RMB 16,767,277 in Q1 2025 from RMB 5,337,768 in Q1 2024[24]. - The company recorded other income of RMB 79,842,278 in Q1 2025, a substantial increase from RMB 18,952,508 in Q1 2024[24]. Return on Equity - The weighted average return on equity was 1.71%, a decrease of 0.34 percentage points from 2.05% in the previous year[7].

登录新浪财经APP 搜索【信披】查看更多考评等级 【导读】长园集团4月29日停牌一天，自4月30日开市起实施其他风险警示 中国基金报记者 张舟 4月28日晚间，长园集团披露多项重要公告，涉及2024年度财报、总裁辞职、股票停牌、股票简称变更为"ST长园"等事宜。 根据公告，长园集团股票在4月29日停牌一天，自4月30日开市起复牌并实施其他风险警示，A股股票简称变更为ST长园，股价日涨跌幅限制为5%。 | 证券代码 | 证券简称 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | | 600525 | 长园集团 A 股 停牌 | 2025/4/29 | 全天 | 2025/4/29 | 2025/4/30 | 年审会计机构指出 公司存在内部控制重大缺陷 4月28日晚间，长园集团的2024年度财务报表被年审会计机构出具了保留意见的审计报告。 年审会计机构表示，长园集团2024年度财报被出具保留意见的审计报告，主要是在执行审计工作过程中发现，公司存在被董事长控制的企业珠海市运 泰利控股发展有限公司（以下简称运泰利控股 ...

Financial Performance - The company's operating revenue for 2024 reached ¥27,090,074,926, representing a 3.42% increase compared to ¥26,194,897,332 in 2023[19]. - Net profit attributable to shareholders for 2024 was ¥1,060,161,237, a slight increase of 0.18% from ¥1,058,289,071 in 2023[19]. - The net profit after deducting non-recurring gains and losses was ¥1,022,942,988, showing a significant increase of 9.49% from ¥934,311,708 in 2023[19]. - The net cash flow from operating activities surged to ¥2,710,300,274, a remarkable increase of 142.78% compared to ¥1,116,364,342 in 2023[19]. - The total assets at the end of 2024 were ¥36,567,255,729, reflecting a decrease of 1.79% from ¥37,234,946,966 at the end of 2023[19]. - The net assets attributable to shareholders increased to ¥27,109,235,057, a growth of 2.73% from ¥26,389,885,558 in 2023[19]. - Basic earnings per share for 2024 were ¥0.1497, a slight increase of 0.20% from ¥0.1494 in 2023[22]. - The weighted average return on net assets for 2024 was 3.96%, a decrease of 0.13 percentage points from 4.09% in 2023[22]. Dividend Distribution - The board proposed a cash dividend of RMB 0.07 per share, totaling RMB 495,847,590 based on a total share capital of 7,083,537,000 shares as of December 31, 2024[4]. - The company distributed a cash dividend of RMB 0.07 per share, totaling approximately RMB 496 million for the 2023 fiscal year[31]. - The company has maintained a cumulative cash dividend distribution of approximately RMB 12.8 billion since its listing, with a payout ratio of 64.31%[31]. - The cash dividend for the current fiscal year represents 46.77% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was RMB 1.06 billion[155]. - Cumulative cash dividends over the last three fiscal years amounted to RMB 991.7 million, with an average annual net profit of RMB 41.3 million, resulting in a cash dividend ratio of 2,403.43%[157]. Operational Highlights - The total passenger volume reached 69.11 million, representing a year-on-year growth of 16.51%[29]. - The total cargo volume was 14.10 million tons, showing a year-on-year decline of 12.05%[29]. - Passenger transport revenue was RMB 10.99 billion, a 2.50% increase from RMB 10.73 billion in 2023, with passenger volume rising by 16.51% to 69.11 million[39]. - Freight revenue decreased to RMB 1.62 billion, down 11.23% from RMB 1.83 billion, with freight volume dropping by 12.05% to 14.10 million tons[42]. - The company has expanded its railway transportation services, including entrusted transportation services, which have become a new growth point for the business[18]. - Future expansion plans include enhancing railway entrusted transportation services in the Guangdong-Hong Kong-Macao Greater Bay Area as new high-speed railways and intercity railways are completed[18]. Risk Management - The company has outlined potential risks in the annual report, which should be reviewed in the "Board Report" section[4]. - The company is aware of macroeconomic risks that could negatively impact its financial performance and will adjust strategies accordingly[70]. - The company has established a financial risk management program to minimize the potential adverse effects of various financial risks, including foreign exchange, interest rate, credit, and liquidity risks[73]. - The company has a risk management internal control system aimed at managing risks associated with achieving business objectives[193]. Governance and Compliance - The company reported a standard unqualified audit opinion from Deloitte Huayong Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The company completed its internal control self-assessment and audit for the 2023 fiscal year, enhancing governance and internal control systems[100]. - The governance structure has been continuously improved since the company’s listing in 1996, ensuring compliance with regulatory requirements[100]. - The company has established a comprehensive internal control system that includes investment management, information disclosure, budget management, and financial reporting since 2006[162]. - The board of directors has a total of 9 members, including 3 independent non-executive directors, meeting the requirement of at least one-third independence[172]. - The company conducts annual reviews of its governance practices and has not found any major deviations from the corporate governance code[167]. Management and Personnel - The company is led by experienced executives with backgrounds in various sectors, including transportation and finance[109][110]. - The company has appointed new executives, including a new chairman and general manager, indicating potential leadership changes[108]. - The total number of directors and supervisors who did not receive remuneration during the reporting period indicates a focus on cost management[120]. - The company has undergone several personnel changes, including the resignation of Wei Hao and Luo Jiancheng due to retirement and other reasons[122]. - The company has a performance-based compensation policy, linking employee salaries closely to economic and labor efficiency, with total employee compensation tied to company performance[148]. Audit and Internal Control - The audit committee, composed of three independent non-executive directors, has been formed to review financial performance and oversee internal control compliance[197]. - The audit committee held 8 meetings during the reporting period, focusing on internal control related to financial reporting and recommending external auditors[198]. - Independent auditors are engaged to evaluate the effectiveness of internal controls related to financial reporting, providing objective assessments and recommendations[194]. - Deloitte Huayong CPA provided an unqualified audit opinion on the effectiveness of the internal control system related to financial reporting[164]. Future Outlook - The company plans to deepen reforms and enhance service capabilities in the railway sector as part of its 2025 strategy[32]. - The company plans to achieve a passenger volume of 71.3 million and a cargo volume of 14.8 million tons by March 2025[69]. - Future strategies include diversifying product lines to mitigate market risks, with an expected investment of 300 million yuan[115]. - The management emphasized the importance of enhancing operational efficiency, targeting a 5% reduction in operational costs[115]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 12% to 15%[115].

Financial Performance - The company reported its audited financial results for the year ending December 31, 2024, in compliance with the Hong Kong Stock Exchange listing rules[3]. - The company's operating revenue for 2024 reached ¥27,090,074,926, representing a 3.42% increase compared to ¥26,194,897,332 in 2023[21]. - Net profit attributable to shareholders for 2024 was ¥1,060,161,237, a slight increase of 0.18% from ¥1,058,289,071 in 2023[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,022,942,988, showing a significant increase of 9.49% from ¥934,311,708 in 2023[21]. - The net cash flow from operating activities for 2024 was ¥2,710,300,274, a substantial increase of 142.78% compared to ¥1,116,364,342 in 2023[21]. - The total assets at the end of 2024 were ¥36,567,255,729, a decrease of 1.79% from ¥37,234,946,966 at the end of 2023[21]. - The net assets attributable to shareholders at the end of 2024 were ¥27,109,235,057, reflecting a 2.73% increase from ¥26,389,885,558 at the end of 2023[21]. - The basic earnings per share for 2024 was RMB 0.15, consistent with the previous year[31]. - The total passenger volume reached 69.11 million, marking a year-on-year growth of 16.51%[31]. - The total cargo volume was 14.10 million tons, showing a year-on-year decline of 12.05%[31]. Dividend and Shareholder Information - The board proposed a cash dividend of RMB 0.07 per share, totaling RMB 495,847,590 based on a total share capital of 7,083,537,000 shares as of December 31, 2024[6]. - The company distributed a cash dividend of RMB 0.07 per share, totaling approximately RMB 496 million, with a cumulative payout of RMB 12.8 billion since its listing[33]. - The cash dividend amount for the current reporting period accounts for 46.77% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is RMB 1.06 billion[157]. - The cumulative cash dividend amount over the last three accounting years is RMB 991.70 million, with a cash dividend ratio of 2,403.43% based on the average annual net profit of RMB 41.26 million[159]. Governance and Compliance - The company has continuously improved its corporate governance structure since its listing in 1996, aligning with regulatory requirements[102]. - The board consists of 9 members, including 3 independent non-executive directors, ensuring compliance with relevant regulations[174]. - The company conducts annual reviews of its governance practices and reports to shareholders on the board's performance[174]. - The company has adhered to the corporate governance code and has not encountered any significant deviations or violations[169]. - The company has established a robust governance structure with independent directors overseeing key committees[113]. - The company has not faced any penalties from securities regulatory authorities in the past three years[127]. Risk Management - The company has established a financial risk management program to minimize potential adverse impacts on financial performance from various financial risks, including foreign exchange and liquidity risks[75]. - The company recognizes macroeconomic risks that could adversely affect its financial performance and will adjust strategies accordingly[72]. - The company emphasizes the importance of safety management and risk prevention in its operational strategy[73]. - The company has a risk management internal control system aimed at managing risks associated with achieving business objectives[195]. Operational Efficiency and Strategy - The company is focusing on enhancing operational efficiency and addressing structural challenges in the railway network to align with economic development needs[36]. - The company plans to focus on deepening reforms and enhancing service quality in the railway sector for 2025[34]. - The company aims to enhance service quality through continuous management, service, and technological innovations[70]. - The company is committed to modernizing its market-oriented management approach to improve operational quality and efficiency[73]. - The company is exploring opportunities for market expansion and potential mergers or acquisitions[110]. Audit and Internal Control - The company received a standard unqualified audit opinion from Deloitte Hua Yong Certified Public Accountants[7]. - Deloitte provided an unqualified audit opinion on the effectiveness of the internal control system related to financial reporting[166]. - The company has implemented a three-line defense mechanism for internal control, including self-assessment by business departments, independent evaluation by the internal audit department, and external audits by accounting firms[165]. - The audit committee consists of three independent non-executive directors, all possessing relevant qualifications and financial management skills[199]. - The audit committee held 8 meetings during the reporting period, focusing on internal controls related to financial reporting and external auditor recommendations[200]. Employee and Management Information - The company has a total of 36,565 employees, with a gender distribution of 76.18% male (27,857) and 23.82% female (8,708) as of the end of the reporting period[180]. - The company has a diverse workforce, with 5,320 employees holding bachelor's degrees and 168 with postgraduate degrees[149]. - The total compensation for directors, supervisors, and senior management during the reporting period amounted to RMB 5,139,170[110]. - The company has appointed new executives, including a vice general manager and a chief accountant, to strengthen its leadership team[110]. Future Outlook - The company plans to achieve a passenger volume of 71.3 million and a cargo volume of 14.8 million tons by March 27, 2025[71]. - The company is considering strategic acquisitions to bolster its service offerings, with a budget of 2 billion yuan allocated for potential deals[117]. - New product launches are anticipated to contribute an additional 1 billion yuan in revenue over the next fiscal year[117]. - The company provided guidance for the next quarter, expecting revenue to grow by 12% to 11.2 billion yuan[117].

Financial Performance - Operating revenue for Q3 2024 reached CNY 7,105,300,763, an increase of 4.52% compared to CNY 6,798,213,684 in the same period last year[4] - Net profit attributable to shareholders was CNY 296,938,476, a decrease of 13.04% from CNY 341,462,460 year-on-year[4] - Net profit excluding non-recurring gains and losses was CNY 292,734,945, down 13.12% from CNY 336,941,862 in the previous year[4] - Total operating revenue for the first three quarters of 2024 reached RMB 20,030,021,093, an increase of 4.46% compared to RMB 19,178,753,383 in the same period of 2023[18] - Net profit attributable to shareholders for the first three quarters of 2024 was RMB 1,209,219,720, up 18.63% from RMB 1,018,959,686 in the same period of 2023[19] - Operating profit for the first three quarters of 2024 was RMB 1,681,592,836, representing a growth of 18.54% compared to RMB 1,418,097,918 in the same period of 2023[18] - Total profit for the first three quarters of 2024 was RMB 1,682,836,229, compared to RMB 1,414,008,889 in the same period of 2023, marking an increase of 18.93%[19] - The company reported a basic earnings per share of RMB 0.171 for the first three quarters of 2024, compared to RMB 0.144 in the same period of 2023[19] Cash Flow - Cash flow from operating activities for the year-to-date reached CNY 2,163,769,507, a significant increase of 160.31% compared to CNY 831,218,939 last year[4][8] - Cash inflow from operating activities totaled RMB 13,867,933,576, compared to RMB 12,889,268,648 in the same period of 2023[20] - The company incurred a net cash outflow from investing activities of RMB 968,909,302 in the first three quarters of 2024, compared to RMB 829,228,667 in the same period of 2023[21] - Cash and cash equivalents increased to RMB 2,329,734,398 from RMB 1,482,463,336, representing a growth of 57.2%[15] - Cash and cash equivalents at the end of the first three quarters of 2024 totaled RMB 2,329,734,398, an increase from RMB 1,491,691,124 at the end of the same period in 2023[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 36,946,765,780, a decrease of 0.77% from CNY 37,234,946,966 at the end of the previous year[5] - As of September 30, 2024, the total current assets amounted to RMB 10,072,555,149, an increase of 14.5% from RMB 8,798,279,200 on December 31, 2023[15] - Total liabilities decreased to RMB 9,759,050,894 from RMB 10,882,951,167, a reduction of 10.3%[17] - The total assets as of September 30, 2024, were RMB 36,946,765,780, slightly down from RMB 37,234,946,966 at the end of 2023[17] - The total non-current assets decreased to RMB 26,874,210,631 from RMB 28,436,667,766, a decline of 5.5%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 154,762, with the largest shareholder holding 37.12% of the shares[10] - Shareholders' equity attributable to the parent company increased by 3.17% to CNY 27,226,221,319 from CNY 26,389,885,558 year-on-year[5] - The company's equity attributable to shareholders increased to RMB 27,226,221,319 from RMB 26,389,885,558, reflecting a growth of 3.2%[17] Inventory and Receivables - The inventory level rose to RMB 319,506,204 from RMB 289,526,749, indicating an increase of 10.3%[16] - The company reported a significant increase in accounts receivable, which rose to RMB 6,848,222,114 from RMB 6,239,551,856, a growth of 9.8%[15] Financial Ratios - The weighted average return on equity for the year-to-date was 4.51%, an increase of 0.56 percentage points compared to 3.95% last year[4] - The company's basic earnings per share for the current period was CNY 0.042, a decrease of 12.50% from CNY 0.048 in the same period last year[4] - Financial expenses for the first three quarters of 2024 amounted to RMB 45,968,944, up from RMB 35,870,462 in the same period of 2023[18]

INTERIM REPORT 2024 半年度報告 [股份代號：00525] (111 N n/0000 n 重要提示 一 、 本公司董事會（「董事會」）、監事會及董事 、監事 、高級管理人員保證本半年度報告內容的真實性 、準確 性、完整性，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二 、 公司全體董事出席審議本半年度報告的董事會會議。 三 、 本半年度報告中的財務報告按照中國企業會計準則編製，並且未經審計。 四 、 公司董事長韋皓、總經理陳少宏、總會計師羅新鵬及財務部長劉啟義聲明：保證本半年度報告中財務報 告的真實、準確、完整。 五 、 公司董事會決定本報告期不進行利潤分配或公積金轉增股本。 六 、 前瞻性陳述的風險聲明 ✓適用 □不適用 本半年度報告中如有涉及未來計劃、發展戰略等前瞻性描述，均不構成公司對投資者的實質承諾，投資 者及相關人士均應當對此保持足夠的風險認識，並且應當理解計劃、預測與承諾之間的差異。 七 、 是否存在被控股股東及其他關聯方非經營性佔用資金情況 否 八 、 是否存在違反規定決策程序對外提供擔保的情況 否 九 、 是否存在半數以上董事無法保證公司所披露半年度 ...

Financial Reporting - The company reported unaudited half-year results for the period ending June 30, 2024[1]. - The board confirmed the accuracy and completeness of the financial report, with no false statements or significant omissions[4]. - The financial report was prepared in accordance with Chinese accounting standards and remains unaudited[4]. - The company has detailed potential risks in the "Board Report" section of the half-year report[5]. - The financial statements were approved by the board on August 28, 2024, ensuring timely reporting of the company's financial health[116]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring compliance and transparency in financial reporting[117]. - The company has evaluated its ability to continue as a going concern for the next 12 months, with no significant doubts identified[118]. - The accounting basis is primarily historical cost, with provisions for impairment where necessary, reflecting prudent financial management[119]. - The company has not reported any changes in accounting policies or prior period adjustments, ensuring consistency in financial reporting[108]. Financial Performance - The company's operating revenue for the first half of 2024 reached CNY 12,924,720,330, representing a 4.40% increase compared to CNY 12,380,539,699 in the same period last year[24]. - Net profit attributable to shareholders was CNY 912,281,244, a significant increase of 34.65% from CNY 677,497,226 year-on-year[24]. - The net cash flow from operating activities amounted to CNY 1,110,360,142, reflecting a 36.87% increase compared to CNY 811,230,621 in the previous year[24]. - Basic earnings per share rose to CNY 0.1288, up 34.73% from CNY 0.0956 in the same period last year[26]. - Operating profit reached RMB 1.27 billion, up 36.35% from RMB 933 million year-on-year[31]. - Total profit for the period amounted to RMB 1,273,716,090, compared to RMB 945,207,624 in 2023, reflecting a year-on-year increase of 34.7%[102]. - Total comprehensive income for the period from January 1 to June 30, 2024, was RMB 911,514,749, an increase from RMB 691,356,303 in the same period of 2023, representing a growth of approximately 31.8%[105]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 37,513,156,357, a 0.75% increase from CNY 37,234,946,966 at the end of the previous year[25]. - The total current assets as of June 30, 2024, amounted to RMB 10,168,492,934, an increase from RMB 8,798,279,200 as of December 31, 2023, reflecting a growth of approximately 15.6%[96]. - Cash and cash equivalents increased significantly to RMB 2,564,088,371 from RMB 1,482,463,336, representing a growth of about 73.1%[96]. - The company's total liabilities decreased to RMB 10,241,824,883 as of June 30, 2024, from RMB 10,470,676,935 as of December 31, 2023, representing a reduction of approximately 2.2%[101]. - The company's asset-liability ratio was 28.36%, calculated based on the end-of-period liabilities divided by total assets[51]. Shareholder Information - The company has a total of 161,843 common shareholders as of the end of the reporting period[84]. - The largest shareholder, China Railway Guangzhou Bureau Group Co., Ltd., holds 2,629,451,300 shares, representing 37.12% of the total shares[85]. - The company has maintained compliance with public shareholding requirements, ensuring sufficient public float[93]. - The company reported a profit distribution of 495,847,590 RMB to shareholders, indicating a strong return on investment[109]. Governance and Compliance - The board of directors includes both executive and independent non-executive members, ensuring diverse oversight[2]. - The audit committee, composed of three independent non-executive directors, is responsible for reviewing financial performance and internal controls[60]. - The company plans to enhance governance and improve information disclosure quality to ensure compliance with legal and regulatory requirements[47]. - The company completed various governance improvements, including internal control evaluations and board member elections, to ensure sustainable development[54]. Operational Highlights - The company is actively involved in providing railway operation services for multiple railways, enhancing its operational capacity and market presence[30]. - In the first half of 2024, the national railway transported 2.096 billion passengers, marking an 18.4% year-on-year increase[29]. - The total freight transported by the national railway was 2.513 billion tons, showing a 0.6% increase compared to the previous year[29]. - The company plans to adapt to market demands by increasing the number of intercity and direct trains to enhance passenger service offerings[34]. Risk Management - The company faced macroeconomic risks that could adversely affect its operational performance and financial condition if the economic climate deteriorates[50]. - The company has established a financial risk management procedure to minimize potential adverse impacts on financial performance from various financial risks[50]. - The company did not use any financial instruments to hedge foreign exchange risks, primarily monitoring foreign currency transactions and the scale of foreign currency assets and liabilities[52]. Employee Information - The total number of employees at the end of the reporting period was 36,437, a decrease of 1,469 from the previous year, primarily due to natural attrition from retirement[71]. - The total amount paid to employees in wages and benefits during the reporting period was approximately RMB 4.087 billion[71]. - The company provided a total of 436,952 training sessions for employees, completing 50% of the annual training plan, with training expenses amounting to approximately RMB 18.468 million[74]. Related Party Transactions - The company engaged in related party transactions with the controlling shareholder, Guangtie Group, totaling RMB 1,919,070,406 for service acceptance and RMB 303,887,616 for network clearing services[79]. - The company has confirmed compliance with the Hong Kong Stock Exchange's related party transaction regulations, ensuring fair pricing principles are followed[78]. - The company has a commitment to not engage in competitive business activities within its operational scope, as per the agreement with Guangtie Group[76]. Future Outlook - The company anticipates continued growth in railway transportation market demand, particularly in passenger services, in the second half of 2024[47]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[103]. - The company is exploring potential mergers and acquisitions to strengthen its market position and enhance competitive advantages[112].

Financial Performance - The company's operating revenue for the first quarter reached RMB 6,600,382,306, representing a year-on-year increase of 7.39% compared to RMB 6,146,150,946 in the same period last year[2] - Net profit attributable to shareholders of the listed company was RMB 546,940,436, marking a significant increase of 34.99% from RMB 405,158,992 in the previous year[2] - The company reported a significant increase in net profit due to higher operating revenue, which outpaced the growth in operating costs[4] - Operating profit for Q1 2024 was RMB 763,830,307, representing a significant increase of 35.93% from RMB 561,687,501 in Q1 2023[13] - The company reported a profit before tax of RMB 547,495,690 for Q1 2024, compared to RMB 405,483,117 in Q1 2023, an increase of 35.00%[13] - The net profit for Q1 2024 was RMB 547,495,690, an increase of 35% compared to RMB 405,483,117 in Q1 2023[14] - The company reported a total comprehensive income of RMB 547,495,690 for Q1 2024, consistent with the net profit figure[14] Cash Flow - The net cash flow from operating activities surged to RMB 900,003,348, reflecting a remarkable increase of 785.23% compared to RMB 101,669,192 in the same period last year[2] - The total cash inflow from operating activities was RMB 4,951,185,059, up 31% from RMB 3,778,594,513 in the same period last year[15] - The cash and cash equivalents at the end of Q1 2024 reached RMB 2,617,982,772, compared to RMB 1,809,923,877 at the end of Q1 2023, reflecting a 45% increase[16] - Cash received from sales of goods and services was RMB 4,606,461,054, an increase of 28% from RMB 3,599,606,299 in Q1 2023[15] - The net cash flow from financing activities was RMB 390,035,694, compared to RMB 488,555,278 in the same quarter last year[16] Earnings and Shareholder Returns - Basic and diluted earnings per share both increased to RMB 0.077, up 35.09% from RMB 0.057 in the previous year[2] - Basic earnings per share for Q1 2024 were RMB 0.077, up from RMB 0.057 in Q1 2023, representing a 35% increase[14] - The weighted average return on equity rose to 2.05%, an increase of 0.46 percentage points compared to 1.59% in the same period last year[2] Assets and Liabilities - Total assets at the end of the reporting period were RMB 37,541,511,049, showing a slight increase of 0.82% from RMB 37,234,946,966 at the end of the previous year[2] - Current assets totaled RMB 9,693,349,624 as of March 31, 2024, compared to RMB 8,798,279,200 at the end of 2023, indicating a growth of 10.12%[9] - Cash and cash equivalents increased to RMB 2,557,982,772 from RMB 1,482,463,336, marking a growth of 72.56%[9] - Total liabilities decreased to RMB 10,580,100,535 from RMB 10,882,951,167, a reduction of 2.77%[11] - The company's retained earnings increased to RMB 4,818,376,126 from RMB 4,271,435,690, showing a growth of 12.85%[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 165,604, with the largest shareholder holding 37.12% of the shares[5] Non-Operating Income - Non-operating income for the period totaled RMB 6,281,838 after accounting for various non-recurring items[3] Operating Costs - Total operating costs for Q1 2024 were RMB 5,860,611,391, up from RMB 5,602,986,957 in Q1 2023, reflecting a growth of 4.59%[13]

Financial Performance - The company's operating revenue for 2023 reached RMB 26,194,898 thousand, representing a 31.35% increase compared to RMB 19,943,430 thousand in 2022[18]. - The operating profit for 2023 was RMB 1,538,460 thousand, a significant recovery from an operating loss of RMB 2,552,035 thousand in 2022[18]. - The net profit attributable to shareholders for 2023 was RMB 1,058,289 thousand, compared to a net loss of RMB 1,994,665 thousand in the previous year[18]. - Total assets at the end of 2023 amounted to RMB 37,234,948 thousand, a slight increase of 0.52% from RMB 37,041,376 thousand at the end of 2022[20]. - Total liabilities decreased by 7.68% to RMB 10,882,952 thousand in 2023 from RMB 11,788,175 thousand in 2022[20]. - The company's basic earnings per share for 2023 was RMB 0.15, recovering from a loss of RMB 0.28 per share in 2022[18]. - The company reported a total revenue of RMB 26.195 billion, an increase of 31.35% compared to RMB 19.943 billion in the previous year[34]. - The operating cost for 2023 was RMB 24.897 billion, reflecting a 10.31% increase from RMB 22.570 billion in the previous year[34]. - The net cash flow from operating activities was RMB 1,116,365,000, a turnaround from a negative cash flow of RMB 193,449,000 in the previous year[35]. - Cash and cash equivalents increased by 14.07% to CNY 1,482,463,000 from CNY 1,299,635,000 in the previous year[55]. Dividend Policy - The board proposed a cash dividend of RMB 0.07 per share for the fiscal year 2023, totaling RMB 495,847,590 based on a total share capital of 7,083,537,000 shares as of December 31, 2023[3]. - The company maintained a stable dividend policy, having distributed approximately RMB 12.3 billion in cash dividends from 1996 to 2019, but did not declare dividends from 2020 to 2022 due to operational pressures[26]. - The total cash dividend amount for the year is RMB 495,848,000, which accounts for 46.85% of the net profit attributable to ordinary shareholders in the consolidated financial statements[173]. - The company has a cash dividend policy that stipulates a minimum annual payout ratio of 30% of distributable profits, with a cumulative cash distribution over three consecutive years not less than 30% of the average annual distributable profits[170]. Governance and Compliance - The company has established an internal control system that complies with international standards and regulatory requirements, covering various aspects such as investment management, information disclosure, and financial reporting[178]. - The company has continuously improved its corporate governance structure and internal control systems since its listing in 1996[100]. - The board of directors consists of 9 members, including 3 independent non-executive directors, meeting the requirement of at least one-third independence[190]. - The company has adhered to the corporate governance code as outlined by the stock exchange, with no significant deviations reported[183]. - The company has not faced any penalties from regulatory authorities in the past three years[135]. - The company confirmed that there were no external guarantees during the reporting period[150]. - The company has complied with all relevant laws and regulations that have a significant impact on its operations during the reporting period[78]. Risk Management - The company has established a financial risk management program to minimize potential adverse effects from foreign exchange, interest rate, credit, and liquidity risks[68]. - The company emphasizes the importance of risk management training for all employees to enhance their awareness and ability to manage risks[179]. - The company will closely monitor macroeconomic conditions and adjust its development strategy accordingly to mitigate risks associated with economic downturns[66]. Operational Highlights - The company operates a total railway mileage of 481.2 kilometers, connecting key regions in Guangdong Province, enhancing its strategic position in the railway network[15]. - The company has expanded its railway operation services, now covering multiple railways including the Wuguang Railway and the Guangzhou-Zhuhai Intercity Railway, contributing to new business growth[17]. - In 2023, the company achieved a passenger volume of 59.315 million, representing a year-on-year increase of 123.69%[25]. - The company plans to achieve a passenger volume of 64.5 million and a cargo volume of 15.95 million tons in 2024[65]. - The company is focused on improving operational efficiency by integrating passenger and freight transport capabilities[67]. Employee and Management - The total number of employees at the company and its main subsidiaries is 37,906[164]. - Employee compensation is closely linked to economic and labor efficiency, with total wages and benefits being contingent on the company's operational performance[166]. - The company has a structured evaluation mechanism for senior management, linking their performance to various operational metrics such as freight volume and profit[176]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 452.6 million[110]. Future Outlook - The company is optimistic about the economic recovery and aims to support national strategies while enhancing service quality and safety in 2024[30]. - The company is focused on deepening reforms and innovations in the railway sector to align with national development goals in 2024[30]. - The company is investing $50 million in research and development for new technologies aimed at enhancing operational efficiency[116]. - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[116].