本人马时亨，于2020年6月-2023年6月期间出任广深铁路股份有限公司（"公司"）独立董事， 任职期间，本人恪尽职守、勤勉尽责，严格遵循《公司法》、《证券法》、上交所《股票上市规则》、 港交所《证券上市规则》等法律法规和公司《章程》、《独立董事工作制度》的规定，充分发挥独 立董事作用，促进公司规范运作，切实维护公司、股东特别是中小股东的合法权益。现就本人2023 年1-6月的履职情况报告如下： 各位股东： 广深铁路股份有限公司 独立董事 2023 年度述职报告 （马时亨） 一、 基本情况 作为公司的独立董事，本人确认在任职期间未有在公司担任除董事外的其他职务，并与公司及 其主要股东、实际控制人不存在直接或者间接利害关系，包括但不限于任何雇佣关系、交易关系、 亲属关系，符合法律法规所规定的独立性要求，不存在影响独立性的情形。本人个人工作履历、专 业背景以及兼职情况简介如下： 马时亨：男，1952年2月出生，香港大学经济及历史专业学士学位，获岭南大学和香港城市大 学分别颁授荣誉社会科学博士，并获委任为香港大学经济金融学院名誉教授、中国投资有限责任公 司国际咨询委员会成员、香港特殊学校议会永远荣誉会长、美国银行集 ...

王琴：女，1970年4月出生，香港永久居民，加拿大温莎大学工商管理专业本科毕业，曾任职 于香港中国旅行社、香港邮政，曾担任中华（海外）企业信誉协会副会长等职务，现任百年赤水（香 港）酒业有限公司总经理、香港名牌科技有限公司名誉董事、香港江苏社团总会副会长和广深铁路 股份有限公司独立董事。 本人于2023年6月当选为广深铁路股份有限公司（以下简称"公司"）的独立董事，受聘为公司 独立董事以来，本人严格按照《公司法》、《证券法》、《上市公司治理准则》、《上市公司独立 董事管理办法》、《上市规则》等法律法规、规范性文件和《公司章程》、《公司独立董事工作制 度》的有关规定，忠实、诚信、勤勉的履职尽责，客观、独立、公正的参与公司决策，努力发挥好 独立董事的参与决策、监督制衡、专业咨询作用，促进公司规范运作，切实维护全体股东，尤其是 中小股东的合法权益。现将本人2023年度履职情况报告如下： 一、独立董事的基本情况 （一） 个人工作履历、专业背景以及兼职情况 广深铁路股份有限公司 独立董事 2023 年度述职报告 （王琴） 各位股东： （二） 独立性情况说明 作为公司的独立董事，本人已按照规定对独立性情况进行自查，并向公 ...

广深铁路股份有限公司 关于监事辞任的公告 A 股简称：广深铁路 股票代码：601333 公告编号：2023-017 向利华先生在本公司任职期间，恪尽职守、勤勉尽责，本公司对 向先生为公司持续、稳定、健康发展做出的贡献表示衷心感谢！ 特此公告。 广深铁路股份有限公司监事会 2023 年 12 月 22 日 附： 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个别及连带责任。 广深铁路股份有限公司（以下简称"本公司"或"公司"）监事会于 2023 年 12 月 22 日收到股东代表监事向利华先生的辞任函。因工作 变动原因，向利华先生申请辞去本公司第十届监事会股东代表监事的 职务，辞任后向先生将不担任本公司任何职务。 根据《公司法》、《公司章程》等有关规定，向利华先生辞去职务 自辞任函送达本公司监事会之日起生效。向先生的辞职不会导致本公 司监事会低于法定最低人数，不会影响本公司监事会和本公司经营正 常运作，不会对本公司日常管理、生产经营等方面产生影响。中国铁 路广州局集团有限公司作为持有本公司 37.12%股份的股东已向公司 和股东大会提议推 ...

Financial Performance - Operating revenue for Q3 2023 reached CNY 6,798,213,684, an increase of 18.24% compared to CNY 5,749,460,150 in the same period last year[3] - Net profit attributable to shareholders for Q3 2023 was CNY 341,462,460, a significant recovery from a loss of CNY 228,625,816 in the previous year[3] - The net profit after deducting non-recurring gains and losses for Q3 2023 was CNY 336,941,862, compared to a loss of CNY 241,776,625 in the same period last year[3] - Basic and diluted earnings per share for Q3 2023 were both CNY 0.048, recovering from a loss of CNY 0.032 in the same period last year[3] - Total operating revenue for the first three quarters of 2023 reached RMB 19.18 billion, a 25.5% increase from RMB 15.24 billion in the same period of 2022[13] - Net profit for the first three quarters of 2023 was RMB 1.02 billion, compared to a net loss of RMB 993.05 million in the first three quarters of 2022[14] - Operating profit for the first three quarters of 2023 was RMB 1.42 billion, a significant recovery from an operating loss of RMB 1.27 billion in the same period of 2022[13] - The company reported a total profit of RMB 1.41 billion for the first three quarters of 2023, recovering from a total loss of RMB 1.28 billion in the same period of 2022[13] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period (January to September 2023) was CNY 831,218,939, compared to a loss of CNY 787,130,169 in the same period last year[3] - Cash flow from operating activities generated RMB 831.22 million in the first three quarters of 2023, compared to a negative cash flow of RMB 787.13 million in the same period of 2022[15] - Cash and cash equivalents at the end of Q3 2023 totaled RMB 1.49 billion, down from RMB 1.72 billion at the end of Q3 2022[16] - The company's cash and cash equivalents stood at RMB 1,428,856,843, up from RMB 1,299,635,304 at the end of 2022[10] - Current assets increased to RMB 8,195,757,672 from RMB 6,969,323,012 year-over-year, primarily driven by an increase in accounts receivable, which rose to RMB 6,051,090,252 from RMB 4,656,294,455[11] Equity and Liabilities - The equity attributable to shareholders at the end of Q3 2023 was CNY 26,372,616,997, reflecting an increase of 4.28% from CNY 25,289,695,971 at the end of the previous year[3] - Total liabilities decreased to RMB 10,622,412,860 from RMB 11,788,174,887, indicating improved financial stability[11] - The equity attributable to shareholders increased to RMB 26,372,616,997 from RMB 25,289,695,971, reflecting a growth in retained earnings[12] - The company reported a significant increase in undistributed profits, which rose to RMB 4,331,394,679 from RMB 3,312,434,993[12] - Short-term borrowings remained stable at RMB 700,355,000 compared to RMB 700,530,444 in the previous year[11] - The company’s long-term borrowings increased slightly to RMB 785,000,000 from RMB 775,000,000, indicating ongoing investment in long-term projects[11] Government Subsidies and Shareholders - Government subsidies recognized in Q3 2023 amounted to CNY 27,681,601, down from CNY 43,549,137 in the previous year[4] - The total number of ordinary shareholders at the end of the reporting period was 180,898[7] Operating Costs and Financial Expenses - Total operating costs for the first three quarters of 2023 were RMB 17.84 billion, an increase from RMB 16.62 billion in the same period of 2022[13] - Financial expenses increased to RMB 35.87 million in the first three quarters of 2023, compared to RMB 33.82 million in the same period of 2022[13] Asset Changes - Total assets at the end of Q3 2023 were CNY 36,959,071,904, a slight decrease of 0.22% from CNY 37,041,375,827 at the end of the previous year[3] - The total non-current assets decreased to RMB 28,763,314,232 from RMB 30,072,052,815, primarily due to a reduction in fixed assets[11]

Financial Performance - The company's operating revenue for Q3 2023 was CNY 6,798,213,684, representing an increase of 18.24% compared to CNY 5,749,460,150 in the same period last year[3]. - Net profit attributable to shareholders for Q3 2023 was CNY 341,462,460, a significant recovery from a loss of CNY 228,625,816 in the previous year[3]. - The net profit after deducting non-recurring gains and losses for Q3 2023 was CNY 336,941,862, compared to a loss of CNY 241,776,625 in the same period last year[3]. - Basic and diluted earnings per share for Q3 2023 were both CNY 0.048, recovering from a loss of CNY 0.032 in the previous year[3]. - Total operating revenue for the first three quarters of 2023 reached RMB 19,178,753,383, an increase from RMB 15,240,732,548 in the same period of 2022, representing a growth of approximately 25.5%[12]. - The company's net profit for the first three quarters of 2023 reached CNY 1,019,496,764, a significant recovery from a net loss of CNY 993,047,548 in the same period of 2022[13]. - Operating profit for the same period was CNY 1,418,097,918, compared to an operating loss of CNY 1,267,171,035 in the previous year[13]. - Total revenue from sales of goods and services amounted to CNY 12,454,611,701, up from CNY 8,296,422,795 in the previous year, indicating a growth of approximately 50%[14]. - The total comprehensive income attributable to the parent company was CNY 1,018,959,686, compared to a loss of CNY 993,950,400 in the same period last year[13]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period (January to September 2023) was CNY 831,218,939, compared to a loss of CNY 787,130,169 in the same period last year[3]. - Cash flow from operating activities generated a net amount of CNY 831,218,939, a turnaround from a negative cash flow of CNY 787,130,169 in the first three quarters of 2022[14]. - The company's cash and cash equivalents as of September 30, 2023, amounted to RMB 1,428,856,843, up from RMB 1,299,635,304 at the end of 2022, reflecting a growth of approximately 9.9%[10]. - The cash and cash equivalents at the end of the period were CNY 1,491,691,124, compared to CNY 1,183,200,806 at the end of the same period last year[15]. - The total assets at the end of Q3 2023 were CNY 36,959,071,904, a slight decrease of 0.22% from CNY 37,041,375,827 at the end of the previous year[3]. - The total assets of the company as of September 30, 2023, were RMB 36,959,071,904, slightly down from RMB 37,041,375,827 at the end of 2022[11]. - The total liabilities decreased to RMB 10,622,412,860 as of September 30, 2023, from RMB 11,788,174,887 at the end of 2022, indicating a reduction of approximately 9.9%[11]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 169,306, indicating a stable shareholder base[7]. - The equity attributable to shareholders at the end of Q3 2023 was CNY 26,372,616,997, reflecting an increase of 4.28% from CNY 25,289,695,971 at the end of the previous year[3]. Expenses and Investments - The company reported a significant decrease in management expenses, which fell to RMB 117,730,869 in 2023 from RMB 182,420,845 in 2022, a reduction of about 35.5%[12]. - The company’s long-term investments increased to RMB 298,746,160 as of September 30, 2023, compared to RMB 274,600,900 at the end of 2022, reflecting a growth of approximately 8.8%[10]. - The company received government subsidies amounting to CNY 27,681,601 during Q3 2023, down from CNY 43,549,137 in the previous year[4]. Accounting and Standards - The company did not apply new accounting standards for the current reporting period[16].

Financial Performance - Operating revenue for Q3 2023 reached CNY 6,798,213,684, an increase of 18.24% compared to CNY 5,749,460,150 in the same period last year[3] - Net profit attributable to shareholders was CNY 341,462,460, a significant recovery from a loss of CNY 228,625,816 in the previous year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 336,941,862, compared to a loss of CNY 241,776,625 in the same period last year[3] - Basic and diluted earnings per share for Q3 2023 were both CNY 0.048, recovering from a loss of CNY 0.032 in the same period last year[3] - Weighted average return on equity increased by 2.17 percentage points to 1.30% for Q3 2023, compared to a negative 0.87% in the same period last year[3] - Total operating revenue for the first three quarters of 2023 reached RMB 19.18 billion, a 25.5% increase from RMB 15.24 billion in the same period of 2022[14] - Net profit for the first three quarters of 2023 was RMB 1.02 billion, compared to a net loss of RMB 993.05 million in the same period of 2022[15] - Operating profit for the first three quarters of 2023 was RMB 1.42 billion, a significant recovery from an operating loss of RMB 1.27 billion in the same period of 2022[14] - The company reported a total profit of RMB 1.41 billion for the first three quarters of 2023, recovering from a total loss of RMB 1.28 billion in the same period of 2022[15] - Basic earnings per share for the first three quarters of 2023 were RMB 0.144, compared to a loss per share of RMB 0.140 in the same period of 2022[15] Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY 831,218,939 for the year-to-date period, recovering from a negative cash flow of CNY 787,130,169 in the previous year[3] - Cash flow from operating activities generated RMB 831.22 million in the first three quarters of 2023, compared to a negative cash flow of RMB 787.13 million in the same period of 2022[16] - Cash and cash equivalents at the end of the first three quarters of 2023 totaled RMB 1.49 billion, down from RMB 1.72 billion at the end of the same period in 2022[17] - Cash and cash equivalents rose to RMB 1,428,856,843 from RMB 1,299,635,304, showing an increase of about 9.9%[10] - As of September 30, 2023, current assets totaled RMB 8,195,757,672, an increase from RMB 6,969,323,012 as of December 31, 2022, representing a growth of approximately 17.6%[10] Liabilities and Equity - Total liabilities as of September 30, 2023, were RMB 10,622,412,860, down from RMB 11,788,174,887, a reduction of about 9.9%[12] - The company's total equity increased to RMB 26,336,659,044 from RMB 25,253,200,940, marking an increase of approximately 4.3%[13] - Equity attributable to shareholders increased by 4.28% to CNY 26,372,616,997 from CNY 25,289,695,971 at the end of the previous year[4] Costs and Expenses - Total costs for the first three quarters of 2023 were RMB 17.84 billion, an increase of 7.3% from RMB 16.62 billion in the same period of 2022[14] - Interest expenses increased to RMB 83.08 million in the first three quarters of 2023, up from RMB 57.19 million in the same period of 2022[14] Other Financial Metrics - Non-operating income for the reporting period included government subsidies of CNY 27,681,601, contributing to overall financial performance[5] - The company plans to continue controlling costs while increasing passenger revenue, driven by a recovery in market demand[6] - Accounts receivable increased to RMB 6,051,090,252 from RMB 4,656,294,455, reflecting a rise of about 30.0% year-over-year[10] - Total non-current assets decreased to RMB 28,763,314,232 from RMB 30,072,052,815, indicating a decline of approximately 4.3%[11] - Long-term receivables increased to RMB 19,446,058 from RMB 12,232,331, reflecting a growth of about 59.5%[11] - The company’s retained earnings rose to RMB 4,331,394,679 from RMB 3,312,434,993, an increase of approximately 30.7%[13] - The total number of shares held by the top 10 shareholders was 2,629,451,300, with HKSCC NOMINEES LIMITED holding 1,480,111,501 shares[8]

Financial Performance - The company reported a financial performance period from January 1, 2023, to June 30, 2023[19]. - The total operating revenue for the first half of 2023 was RMB 12.38 billion, an increase of 30.44% compared to RMB 9.49 billion in the same period last year[30]. - The operating profit for the first half of 2023 was RMB 975.41 million, a turnaround from an operating loss of RMB 975.64 million in the same period last year[30]. - The net profit attributable to shareholders for the first half of 2023 was RMB 677.50 million, compared to a net loss of RMB 765.33 million in the same period last year[30]. - The company reported a total of RMB 2,715,095,000 in accounts payable as of June 30, 2023, down from RMB 3,525,291,000 as of December 31, 2022, a decrease of 23%[166]. - The income tax expense for the six months ended June 30, 2023, was RMB 266,782,000, compared to a tax credit of RMB 221,398,000 for the same period in 2022[167]. Revenue Breakdown - Passenger transport revenue reached RMB 532.02 million, a significant increase of 70.06% from RMB 312.83 million in the previous year[33]. - The number of passengers transported increased to 26.41 million, a growth of 99.18% compared to 13.26 million in the same period last year[33]. - Freight revenue for the first half of 2023 was RMB 930.40 million, up 12.06% from RMB 830.24 million in the previous year[35]. - The total revenue from railway transportation business was RMB 11,747,766, an increase from RMB 9,054,956 in the same period of 2022, representing a growth of approximately 29.6%[151]. - The company reported a significant increase in passenger transport revenue, amounting to RMB 5,264,574,000 in the first half of 2023, compared to RMB 2,953,225,000 in the same period of 2022, which is an increase of 78.1%[194]. Costs and Expenses - Total costs increased by 9.01% to RMB 11,468,358 thousand, with railway business costs rising by 8.50% to RMB 10,887,548 thousand[40]. - The company incurred short-term lease payments for passenger and freight trains to the National Railway Group amounting to approximately RMB 954,727,000 for the first half of 2023, compared to RMB 928,573,000 in the same period of 2022, representing an increase of 2.8%[195]. - The group incurred depreciation expenses of approximately RMB 8,009,000 for right-of-use assets for the six months ended June 30, 2023, slightly down from RMB 8,123,000 for the same period in 2022[178]. Assets and Liabilities - The company's total assets at the end of the reporting period were RMB 36.86 billion, a slight decrease of 0.48% from RMB 37.04 billion at the end of the previous year[26]. - The net assets (excluding minority interests) increased to RMB 26.01 billion, representing a growth of 2.86% from RMB 25.29 billion at the end of the previous year[26]. - The total liabilities decreased to RMB 10,462,271,000 as of June 30, 2023, from RMB 11,345,768,000 as of December 31, 2022, showing a decline of 7.8%[154]. - Current liabilities decreased to RMB 7,989,034,000 from RMB 8,887,432,000, indicating improved liquidity[117]. - The group reported a significant increase in income from services provided to joint ventures, totaling RMB 2,559,541,000 for the six months ended June 30, 2023, compared to RMB 2,553,524,000 in the same period of 2022, indicating a growth of 0.2%[173]. Shareholder Information - The largest shareholder, China Railway Guangzhou Group Co., Ltd., held 2,629,451,300 shares, accounting for 37.12% of the total shares[99]. - As of the end of the reporting period, the total number of ordinary shareholders was 166,629[98]. - There were no changes in the total number of shares or share capital structure during the reporting period[98]. - The company has not made any significant investments or acquisitions during the reporting period and has no plans for major investments or capital asset purchases[55]. Governance and Compliance - The company confirmed compliance with the Listing Rules and has not deviated from the Corporate Governance Code[64]. - The board of directors consists of nine members, including three independent non-executive directors, ensuring diverse expertise[65]. - The Audit Committee, composed of three independent non-executive directors, oversees financial performance and internal controls[66]. - The company completed the self-evaluation and audit of internal controls for the year 2022 as required by regulatory authorities[60]. Future Outlook - The company expects the overall operation of the Chinese economy to maintain a positive development trend in the second half of 2023, with a continuous recovery in railway transportation demand, especially in passenger transport[49]. - The company plans to enhance market promotion and passenger marketing to optimize transportation organization and accelerate the recovery of passenger business, leveraging the ongoing recovery of railway passenger flow[49]. - The company aims to implement structural reforms on the supply side of railway transportation, adapting to market needs and innovating "road-rail combined transport" products[49]. Employee Information - The total number of employees at the end of the reporting period was 39,221, a decrease of 175 from the previous year, primarily due to natural attrition from retirements[80]. - The total amount paid to employees in wages and benefits during the reporting period was approximately RMB 4.405 billion[81]. - The company provided training for 475,037 participants, completing 50% of the annual training plan, with training expenses amounting to approximately RMB 11.7361 million[84].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2023, representing a year-on-year increase of 15% compared to RMB 1.04 billion in the same period of 2022[5]. - The net profit attributable to shareholders for the first half of 2023 was RMB 300 million, up 20% from RMB 250 million in the first half of 2022[5]. - The company's operating revenue for the first half of 2023 was RMB 12.38 billion, an increase of 30.44% compared to RMB 9.49 billion in the same period last year[21]. - The net profit attributable to shareholders was RMB 677.5 million, a turnaround from a net loss of RMB 765.3 million in the previous year[21]. - The net cash flow from operating activities was RMB 811.2 million, compared to a negative cash flow of RMB 695.5 million in the same period last year[22]. - Passenger revenue reached RMB 5.32 billion, a year-on-year increase of 70.06%, with total passenger volume rising to 26.41 million, up 99.18%[24]. - The average return on equity increased to 2.64%, up 5.49 percentage points from the previous year[17]. - The company reported a significant increase in passenger kilometers to 7.57 billion, a growth of 76.67% compared to the previous year[24]. - The operating cost for the first half of 2023 was RMB 11.38 billion, an increase of 9.29% from RMB 10.41 billion in the same period last year[22]. - The company recorded a total asset value of RMB 36.86 billion, a slight decrease of 0.48% from the previous year[7]. - The company received government subsidies amounting to RMB 15.87 million, contributing positively to its financial performance[18]. - Freight revenue increased to RMB 930.40 million, a year-on-year growth of 12.06%[25]. - Freight volume reached 8,047,438 tons, representing a 2.80% increase compared to the previous year[25]. - Revenue from network clearing and other transportation services was RMB 549.72 million, up 7.86% year-on-year[26]. Operational Developments - Passenger traffic volume increased by 10% year-on-year, reaching 15 million passengers in the first half of 2023[5]. - The company plans to expand its service routes by 5% in the next fiscal year, focusing on enhancing connectivity in the Guangdong-Hong Kong-Macau Greater Bay Area[5]. - Investment in new technology and infrastructure upgrades is projected to be RMB 500 million over the next two years to improve operational efficiency[5]. - The company plans to enhance market promotion and passenger marketing to optimize transportation organization and accelerate the recovery of passenger transport services[35]. - The company aims to implement supply-side structural reforms in railway transportation, adapting to market needs and innovating "road-rail combined transport" products[35]. Risk Management - The company has outlined potential risks in its future operations, including regulatory changes and market competition[4]. - The company faces macroeconomic risks that could adversely affect its operating performance and financial condition if the economic climate deteriorates[37]. - The company has established a financial risk management program to minimize potential adverse impacts on financial performance from various financial risks[37]. - The group faces various financial risks, including market risk (foreign exchange, interest rate, and other price risks), credit risk, and liquidity risk, and has established risk management policies to mitigate these risks[144]. Corporate Governance - The financial report for the first half of 2023 was prepared in accordance with Chinese accounting standards and remains unaudited[2]. - The board of directors has confirmed that all members attended the meeting to review the half-year report, ensuring accountability for its accuracy[2]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange rules, with no significant deviations reported[47]. - The board consists of nine members, including three independent non-executive directors, ensuring diverse expertise and experience in the railway industry[48]. - The audit committee, composed of three independent non-executive directors, has reviewed the company's financial performance and internal controls for the first half of 2023[49]. - The remuneration committee is responsible for reviewing and recommending the remuneration of directors and supervisors based on market conditions and company performance[50]. - The nomination committee discusses and proposes candidates for directors and senior management positions, ensuring a structured selection process[51]. - The company has adopted strict securities trading rules for its directors and senior management, confirming compliance during the reporting period[52]. Employee and Training - The total number of employees at the end of the reporting period was 39,221, a decrease of 175 from the previous year-end figure of 39,396[60]. - The total salary and benefits paid to employees during the reporting period amounted to approximately RMB 4.405 billion[61]. - A total of 475,037 person-times participated in various vocational training programs, completing 50% of the annual training plan, with training expenses around RMB 11.7361 million[63]. Shareholder Information - The company has consistently prioritized shareholder communication, implementing various channels for effective two-way communication with investors[55]. - Since its listing, the company has distributed approximately RMB 12.3 billion in cash dividends over 24 consecutive years from 1996 to 2019, despite not distributing dividends in 2020, 2021, and 2022 due to external challenges[56]. - The total number of ordinary shareholders as of the end of the reporting period was 166,629[69]. - The largest shareholder, China Railway Guangzhou Bureau Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of the total shares[70]. - The second-largest shareholder, HKSCC Nominees Limited, holds 1,615,610,637 shares, representing 22.81%[70]. Financial Position - The company reported a short-term loan of approximately RMB 700 million with a weighted average annual interest rate of 2.49% and a long-term loan of approximately RMB 795 million with a weighted average annual interest rate of 2.74%[38]. - The company's asset-liability ratio is 29.53%, calculated by dividing the ending balance of liabilities by the ending balance of total assets[38]. - The company has no significant investments or acquisitions during the reporting period and has no plans for major investments or acquisitions[39]. - The company has no contingent liabilities during the reporting period[42]. - The company has completed its internal control self-assessment and audit for 2022, ensuring compliance with regulatory requirements[43]. - The company did not propose any profit distribution or capital reserve conversion plan for the half-year report[46]. Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 1.72 billion, a growth of 32.72% compared to the previous year[31]. - Accounts receivable rose to RMB 5.32 billion, reflecting a 14.32% increase year-on-year due to higher transportation and railway service revenues[31]. - The company reported a significant increase in tax expenses, with a year-on-year growth of 197.37% to RMB 11.24 million, attributed to increased VAT payments[29]. - Investment income increased by 12.66% to RMB 42.80 million, driven by higher returns from long-term equity investments[29]. - The company expects the overall operation of the Chinese economy to maintain a positive development trend in the second half of 2023, with a focus on high-quality development and safety in production[35]. Accounting Policies - The financial statements for the six months ending June 30, 2023, comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[99]. - The accounting year runs from January 1 to December 31, with the reporting currency being Renminbi[100]. - The group applies the purchase method for business combinations, measuring the cost of the combination and identifiable net assets at fair value on the acquisition date[101]. - All significant intercompany balances, transactions, and unrealized profits are eliminated in the preparation of the consolidated financial statements[102]. - The group holds debt instruments measured at amortized cost, primarily including cash, notes receivable, accounts receivable, and other receivables[107]. - The group classifies financial assets based on expected credit loss, with provisions calculated for receivables and contract assets according to their credit risk stages[108]. - The group recognizes expected credit losses for receivables based on historical loss experience and current economic conditions, with provisions reflecting the entire duration of the financial instruments[109]. - Financial liabilities are primarily measured at amortized cost, including notes payable, accounts payable, and borrowings, with initial measurement at fair value less transaction costs[110]. - Inventory is measured at the lower of cost and net realizable value, with costs calculated using the weighted average method[111]. - Long-term equity investments are accounted for using the cost method or equity method, depending on the level of control or significant influence[112]. - The group recognizes investment income from long-term equity investments based on the share of net profit or loss from the investee[113]. - Provisions for impairment of long-term equity investments are recognized when the carrying amount exceeds the recoverable amount[113]. - The group employs a perpetual inventory system for inventory management[112]. Asset Management - The company reported a significant reduction in the carrying value of long-term equity investments when their recoverable amount fell below the book value[114]. - Fixed assets include buildings, tracks, bridges, locomotives, communication systems, and other equipment, with initial measurement based on acquisition cost[114]. - The estimated useful life for buildings ranges from 20 to 40 years, with an annual depreciation rate of 2.40% to 4.80%[116]. - The company capitalizes borrowing costs directly attributable to assets that require a long period for construction, ceasing capitalization once the asset is ready for use[119]. - Intangible assets, including land use rights and software, are amortized over their estimated useful lives, with land use rights amortized over 36.5 to 50 years[120]. - Long-term prepaid expenses are amortized over an estimated benefit period of 4 years[121]. - The company conducts impairment tests on fixed assets, construction in progress, and intangible assets at the balance sheet date[122]. Employee Benefits - Employee compensation includes various forms of remuneration, with short-term compensation recognized as a liability during the accounting period[123]. - The company participates in a defined contribution plan for employee retirement benefits, contributing to basic and supplementary pension insurance[125]. - The company has established policies for the disposal of fixed assets, recognizing gains or losses based on the difference between disposal income and book value[117]. - The company participates in a supplementary pension insurance scheme organized by the Guangxi Railway Group, contributing monthly based on the defined standards[127]. - The company recognizes liabilities for severance benefits when terminating employee contracts or encouraging voluntary layoffs, impacting current profits[128]. - Internal retirement benefits are provided to employees who voluntarily retire before the statutory retirement age, with liabilities recognized similarly to severance benefits[129]. Revenue Recognition - Revenue from railway transportation services is recognized when customers gain control of the related goods or services[131]. - Passenger revenue includes income from intercity trains, long-distance trains, and direct trains to Hong Kong, processed through the national clearing system[132]. - Freight revenue is derived from goods transportation services, with calculations managed by the national clearing system[132]. - Government grants are recognized as deferred income and amortized over the useful life of the related assets[134]. Taxation - The corporate income tax rate applicable is 20% and 25% depending on the taxable income[159]. - The value-added tax rate for passenger and freight income has been reduced to 9% since April 1, 2019, down from 10%[161]. - The company’s subsidiaries benefit from a reduced corporate income tax rate of 20% on the portion of taxable income not exceeding RMB 3 million[160]. - The urban maintenance and construction tax rate applicable to most subsidiaries is 7%[163].

Financial Performance - The company reported its interim results for the six months ending June 30, 2023, in accordance with the Hong Kong Stock Exchange listing rules[1]. - The financial statements were prepared in accordance with International Financial Reporting Standards and are unaudited[5]. - The company's total operating revenue for the first half of 2023 was RMB 12,380.54 million, an increase of 30.44% compared to RMB 9,491.27 million in the same period last year[32]. - The total operating costs for the same period were RMB 11,468.36 million, reflecting a 9.01% increase from RMB 10,520.35 million year-on-year[32]. - The company achieved an operating profit of RMB 975.41 million, reversing from an operating loss of RMB 975.64 million in the previous year[32]. - The net profit attributable to shareholders was RMB 677.50 million, compared to a net loss of RMB 765.33 million in the same period last year[32]. - Passenger revenue reached RMB 532.02 million, a significant increase of 70.06% from RMB 312.83 million year-on-year[35]. - The number of passengers transported increased to 26,409,651, representing a 99.18% growth compared to 13,258,856 in the previous year[35]. - The total passenger-kilometers reached 7.572 billion, up 76.67% from 4.286 billion in the same period last year[35]. - Freight revenue increased to RMB 930.40 million, a year-on-year growth of 12.06%[37]. - Freight volume rose to 8,047,438 tons, reflecting a 2.80% increase compared to the previous year[37]. - Network clearing and other transportation services revenue reached RMB 549.72 million, up 7.86% year-on-year[39]. - Revenue from network clearing services surged by 27.46% to RMB 208.27 million, driven by increased passenger train operations[39]. - Other business revenue grew by 45.03% to RMB 633 million, attributed to new station services and increased passenger volume[40]. Assets and Liabilities - The company's total assets at the end of the reporting period were RMB 36,863.89 million, a slight decrease of 0.48% from RMB 37,041.38 million at the end of the previous year[28]. - The net assets (excluding minority interests) increased by 2.86% to RMB 26,012.36 million from RMB 25,289.70 million year-on-year[28]. - The company reported a net cash flow from operating activities of RMB 811.23 million, compared to a negative cash flow of RMB 695.49 million in the previous year[33]. - The company's asset-liability ratio is 29.53%, calculated based on the ending balance of liabilities divided by the ending balance of total assets[57]. - Total liabilities decreased to RMB 10,887,093 thousand as of June 30, 2023, down from RMB 11,788,175 thousand at the end of 2022, representing a reduction of approximately 7.6%[119]. - Current liabilities decreased to RMB 7,989,034 thousand from RMB 8,887,432 thousand, indicating a decline of about 10.1%[119]. - The total equity attributable to the company's equity owners was RMB 25,976,797,000, compared to RMB 25,253,201,000 in the previous year, indicating an increase of about 2.9%[117]. Cash Flow - The company reported a significant increase in cash generated from operations, with a total of RMB 813,932,000 in cash received from operating activities, compared to RMB 693,513,000 in the previous year[132]. - The net cash generated from operating activities was RMB 811,231,000, compared to a net cash used of RMB 695,486,000 in the same period of 2022, representing a significant improvement[132]. - The net cash used in investing activities was RMB 363,019,000, an increase from RMB 222,238,000 in the previous year, indicating higher investment outflows[132]. - The net cash used in financing activities was RMB 22,946,000, a decrease from cash generated of RMB 497,681,000 in the same period last year, reflecting changes in financing strategies[132]. - The total cash and cash equivalents at the end of the period increased to RMB 1,724,901,000 from RMB 1,079,419,000 year-over-year, showing improved liquidity[132]. Corporate Governance - The board of directors guarantees the truthfulness, accuracy, and completeness of the interim report[5]. - The company has maintained compliance with the corporate governance code and has not encountered any significant deviations or violations[66]. - The board of directors consists of nine members, including three independent non-executive directors, ensuring diverse expertise[67]. - The audit committee, composed of three independent non-executive directors, oversees financial performance and internal controls[68]. - The remuneration committee reviews and recommends compensation for directors and supervisors based on market conditions and company performance[69]. - The nomination committee discusses and proposes candidates for directors and senior management positions[70]. Risk Management and Future Plans - The company has detailed potential risks it may face in the future within the "Board Report (including Management Discussion and Analysis)" section[6]. - The company plans to focus on production safety, passenger and freight transportation, and operational management in the second half of 2023, aiming for high-quality development[51]. - The company will enhance market promotion and passenger marketing to optimize transportation organization and accelerate the recovery of passenger business[51]. - The company will actively respond to market competition by improving service quality and increasing freight train frequency[55]. - The company will closely monitor macroeconomic conditions and adjust its development strategy accordingly to maintain stable operations[53]. Employee and Training - The total number of employees at the end of the reporting period was 39,221, a decrease of 175 from the previous year due to natural attrition from retirements[82]. - The total amount paid to employees for wages and benefits during the reporting period was approximately RMB 4.405 billion[83]. - The company completed 50% of its annual training plan, with 475,037 participants in various vocational training programs, and training expenses amounted to approximately RMB 11.7361 million[86]. Related Party Transactions - The company has no significant impact from related party transactions on its operating results and financial position[97]. - The total transaction amount with Guangxi Railway Group and its subsidiaries reached RMB 1,892,757,000 for train services and RMB 666,383,000 for network clearing services[92]. - The company provided train services to the National Railway Group, generating revenue of RMB 25,386,000, and network clearing services amounting to RMB 1,416,327,000[94]. - Revenue from transportation services provided to related companies was RMB 2,559,541,000 for the six months ended June 30, 2023, compared to RMB 2,553,524,000 for the same period in 2022, showing a slight increase[175]. Compliance and Internal Controls - The company has completed the self-assessment and audit of internal controls for the year 2022 as required by regulatory authorities[62]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[81]. - The company has not incurred any contingent liabilities during the reporting period[60]. - There were no changes in accounting policies, estimates, or significant corrections of accounting errors during the reporting period[60]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 166,629[100]. - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of total shares[101]. - The second-largest shareholder, HKSCC Nominees Limited, holds 1,615,610,637 shares, representing 22.81% of total shares[101]. - The company encourages shareholder participation in meetings and has provided detailed voting procedures to ensure shareholder rights are upheld[79]. - The company has maintained a culture of respect and accountability towards investors, emphasizing the importance of information disclosure[73].

Financial Performance - Operating revenue for Q1 2023 reached CNY 6,146,150,946, an increase of 22.96% compared to CNY 4,998,622,697 in the same period last year[3] - Net profit attributable to shareholders was CNY 405,158,992, a significant recovery from a loss of CNY 398,371,025 in the previous year[3] - Basic and diluted earnings per share were both CNY 0.057, recovering from a loss of CNY 0.056 per share in the previous year[3] - Operating profit for Q1 2023 was RMB 561,687,501, a significant turnaround from a loss of RMB 500,826,013 in Q1 2022[13] - Net profit for Q1 2023 amounted to RMB 405,483,117, compared to a net loss of RMB 398,142,815 in the same period last year[13] Cash Flow and Liquidity - Net cash flow from operating activities improved to CNY 101,669,192, compared to a negative cash flow of CNY 202,546,932 in the same period last year[3] - Operating cash inflow for Q1 2023 was CNY 3,778,594,513, an increase of 21.8% compared to CNY 3,100,690,902 in Q1 2022[14] - Cash received from sales of goods and services reached CNY 3,599,606,299, up from CNY 2,916,362,577, reflecting a growth of 23.4% year-over-year[14] - The net increase in cash and cash equivalents for the quarter was CNY 288,380,438, compared to a net decrease of CNY (321,608,581) in Q1 2022[14] - The ending balance of cash and cash equivalents was CNY 1,809,923,877, up from CNY 1,397,853,720 at the end of Q1 2022[14] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 37,214,865,410, a slight increase of 0.47% from CNY 37,041,375,827 at the end of the previous year[3] - Current assets increased to RMB 7,719,579,596 from RMB 6,969,323,012, reflecting a growth of 10.7%[12] - Total liabilities decreased to RMB 11,526,321,618 from RMB 11,788,174,887, indicating a reduction of 2.2%[12] - Cash and cash equivalents rose to RMB 1,746,684,900, up from RMB 1,299,635,304, marking a growth of 34.4%[12] - The company reported a decrease in accounts payable from RMB 5,078,928,112 to RMB 4,556,545,192, a decline of 10.3%[12] Shareholder Information - The company reported a total of 178,149 common shareholders at the end of the reporting period[7] - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of total shares[7] - Shareholders' equity attributable to shareholders increased to CNY 25,724,714,698, up 1.72% from CNY 25,289,695,971 at the end of the previous year[3] Non-Operating Income and Expenses - Non-operating income for the period included CNY 9,405,838 in government subsidies and CNY 4,004,057 in other non-operating income[4] - The company paid CNY 11,444,722 in dividends and interest, a decrease from CNY 15,754,717 in the same quarter last year[14] Future Plans - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[13] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2023[14]