Core Viewpoint - Zhejiang Hangzhou Bay Bridge (00576.HK) reported a closing price of 7.370 HKD as of July 3, down 0.67% from the previous trading day, with an intraday high of 7.480 HKD, marking a nearly one-year high [1] Group 1: Company Overview - Zhejiang Hangzhou Bay Bridge Company is a core member of Zhejiang Provincial Transportation Group and an important listed platform, established in March 1997 and listed on the Hong Kong Stock Exchange in May of the same year [1] - The company was set up to create financing channels connecting Zhejiang's transportation with international capital markets and to accelerate the construction of the provincial highway network, being the first state-owned enterprise from Zhejiang to list overseas [1] - The company aims to become a world-class enterprise, focusing on high-quality development driven by high-quality party building, and operates under three platforms: highway operation management, market-oriented infrastructure investment and financing, and asset securitization [1] Group 2: Corporate Values and Achievements - The company adheres to core values of "integrity, harmony, openness, and progress" and promotes a corporate spirit of "dedication, responsibility, and innovation" [2] - It has received numerous honors, including recognition as a benchmark enterprise by the State-owned Assets Supervision and Administration Commission and various provincial and national awards for its management and operational excellence [2] - The company has been recognized in international financial magazines for its governance and investor relations, achieving a high level of recognition in both the domestic highway industry and international capital markets [2]

Summary of Key Points Core Viewpoint - As of July 3, a total of 120 stocks reached their 52-week highs, indicating a strong market performance with notable leaders in the list [1]. Group 1: Top Performers - The top three stocks with the highest increase rates are: - 富誉控股 (Fuyou Holdings) at 90.76%, closing at 0.435 with a peak of 0.475 [1] - 信义能源 (Xinyi Energy) at 65.00%, closing at 1.200 with a peak of 1.980 [1] - 中国三三传媒 (China San San Media) at 42.86%, closing at 1.710 with a peak of 1.900 [1] Group 2: Additional Notable Stocks - Other notable stocks include: - ITE HOLDINGS at 34.21% increase, closing at 0.047 with a peak of 0.051 [1] - 星凯控股 (Xingkai Holdings) at 30.00%, closing at 0.480 with a peak of 0.650 [1] - 北京北辰实业股份 (Beijing Beichen Industrial) at 26.47%, closing at 0.940 with a peak of 1.290 [1] Group 3: Overall Market Trends - The overall trend shows a significant number of stocks achieving new highs, reflecting positive investor sentiment and market conditions [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，並明確表示概不會就本公告全部或任何 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 。 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：0576) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列浙江滬杭甬高速公路股份有限公司（「本公司」）的子公司浙商證券股份有限公司 （「浙商證券」）於二零二五年六月二十六日在上海證券交易所網站刊登的浙商證券關於 第四屆董事會第三十三次會議決議公告，僅供參閱。 相關公告內容同時於本公司網站 www.zjec.com.cn 刊載, 僅供參閱。 代表董事會 浙江滬杭甬高速公路股份有限公司 袁迎捷 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。 浙商证券股份有限公司（以下简称"浙商证券"或"公司"）第四届董事会第三十三 次会议于 2025 年 6 月 12 日 ...

Core Viewpoint - Zhejiang Hangzhou-Ningbo Expressway Co., Ltd. has shown a significant increase in stock price and positive capital flow, indicating strong market performance and investor confidence [1]. Group 1: Company Overview - Zhejiang Hangzhou-Ningbo Expressway Co., Ltd. is a core member of Zhejiang Provincial Transportation Group and an important listed platform, established in March 1997 and listed on the Hong Kong Stock Exchange in May of the same year [1]. - The company was created to connect Zhejiang's transportation with international capital markets and accelerate the construction of the provincial expressway network, being the first state-owned enterprise from Zhejiang to list overseas [1]. Group 2: Business Strategy and Goals - The company aims to become a world-class enterprise, focusing on high-quality development driven by high-quality party building, and operates under three platforms: expressway operation management, market-oriented infrastructure investment and financing, and asset securitization [1]. - The company emphasizes the dual drive of main business development and capital operation to establish itself as a leading professional expressway operating company [1]. Group 3: Corporate Values and Recognition - The company adheres to core values of "integrity, harmony, openness, and progress" and promotes a corporate spirit of "dedication, responsibility, and innovation" [2]. - It has received numerous honors, including recognition as a benchmark enterprise by the State-owned Assets Supervision and Administration Commission and various awards in the highway industry, reflecting its high recognition in both domestic and international capital markets [2].

海外監管公告 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 概不會就本 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 。 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：0576) 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列浙江滬杭甬高速公路股份有限公司（「本公司」）的子公司浙商證券股份有限公司 （「浙商證券」）於二零二五年五月二十二日在上海證券交易所網站刊登的浙商證券關於 第四屆董事會第三十二次會議決議公告，僅供參閱。 相關公告內容同時於本公司網站 www.zjec.com.cn 刊載, 僅供參閱。 代表董事會 浙江滬杭甬高速公路股份有限公司 袁迎捷 董事長 中國杭州，二零二五年五月二十二日 经审议，作出决议如下： 一、审议通过公司《关于非交易性权益工具账户和其他债权投资账户规模上限 的议案》 表决结果：9 票同意，0 票反对，0 票弃权。 特此公告。 於本公告發佈日，本公司董事長為袁迎捷 ...

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 概不會就本 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 。 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：0576) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列浙江滬杭甬高速公路股份有限公司（「本公司」）的子公司浙商證券股份有限公司 （「浙商證券」）於二零二五年五月九日在上海證券交易所網站刊登的浙商證券關於參加 2025 年浙江轄區上市公司投資者網上集體接待日暨召開公司 2024 年度和 2025 年第一季度 業績說明會的公告，僅供參閱。 相關公告內容同時於本公司網站 www.zjec.com.cn 刊載, 僅供參閱。 代表董事會 浙江滬杭甬高速公路股份有限公司 袁迎捷 董事長 中國杭州，二零二五年五月九日 於本公告發佈日，本公司董事長為袁迎捷先生；本公司執行董事包括: 吳偉先生和 李偉先生；本公司其他非執行董事包括：楊旭東先生 ...

Core Viewpoint - Morgan Stanley has raised the target price for Zhejiang Hu-Hang-Yong (00576.HK) by 4%, from HKD 6.8 to HKD 7.1, while maintaining a buy rating [1] Financial Performance - The company is conservatively expected to achieve a compound annual growth rate (CAGR) of 2-3% in revenue and net profit after tax (NPAT) for the fiscal years 2025/2026, primarily due to its significant exposure to Chinese export demand [1] - The company’s dividend per share is expected to remain flat, having increased to RMB 0.385 last year, with a projected dividend yield of 6.5% for the fiscal years 2025/2026, which is among the highest in the Chinese peer group [1] Market Performance - The company reported strong performance in Q1 2025, prompting an update to its financial model [1] - Year-to-date, the company's stock price has risen by 13%, significantly outperforming the CSI 300 index [1] - The strong performance is attributed to a shift in investor sentiment towards defensive stocks amid a macro environment characterized by trade tensions [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 會就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。 （股份代號：0576） （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） 有關持續關連交易框架協議之補充公告 謹 此 提 述 浙 江 滬 杭 甬 高 速 公 路 股 份 有 限 公 司（「本公司」）日 期 為2025年4 月17日 之 公 告（「該公告」），內 容 有 關 本 公 司 及 其 相 關 附 屬 公 司 與 本 公 司 各 關 連 人 士 訂 立 的 框 架 協 議。除 文 義 另 有 界 定 者 外，本 公 告 所 採 用 之 詞 彙 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 本補充公告是為就各框架協議項下年度上限的釐定基準提供補充資料 而 作 出。 (1) 與浙江高信訂立的框架協議 與浙江高信訂立的框架協議項下交易的年度上限為人民幣800,000,000元。 年 度 上 ...

Financial Performance - The company's revenue for the first quarter of 2025 reached RMB 4,364,070 thousand, representing an increase of 9.06% compared to RMB 4,001,897 thousand in the same period of 2024[4] - The gross profit for the same period was RMB 1,904,172 thousand, up 10.5% from RMB 1,723,409 thousand year-on-year[4] - The net profit attributable to the company's owners was RMB 1,479,289 thousand, a 6.15% increase from RMB 1,393,689 thousand in the first quarter of 2024[7] - Basic earnings per share for the first quarter of 2025 was RMB 24.68, compared to RMB 23.25 in the same quarter of 2024, reflecting a growth of 6.16%[7] Assets and Liabilities - The total assets as of March 31, 2025, were RMB 75,447,770 thousand, compared to RMB 73,698,364 thousand as of December 31, 2024, indicating an increase of 2.38%[8] - The company's total liabilities as of March 31, 2025, were RMB 35,182,481 thousand, slightly down from RMB 35,218,026 thousand as of December 31, 2024[8] Cash Flow - The net cash flow from operating activities for the first quarter of 2025 was RMB 1,094,803 thousand, down 9.78% from RMB 1,213,923 thousand in the previous year[9] - The company reported a net cash outflow from investing activities of RMB (3,892,550) thousand, significantly higher than RMB (667,688) thousand in the same period last year, indicating increased investment activity[9] - The cash and cash equivalents at the end of the first quarter of 2025 were RMB 19,125,632 thousand, down from RMB 22,394,268 thousand at the end of the first quarter of 2024[9] Corporate Governance - The chairman of the company is Mr. Yuan Yingjie, and the executive directors include Mr. Wu Wei and Mr. Li Wei[11] - The company has independent non-executive directors including Mr. Becker Wei, Ms. Li Weicheng, and Mr. Yu Mingyuan[11] Future Plans - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[3]

（股份代號：0576） （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） 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 會就本公告全部或任何 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。 公 告 | | 年初至報告期末 | 比 上 年 同 期 增╱減 | | --- | --- | --- | | | （1-3月） | (%) | | 經營活動產生的現金流量淨額 | -1,331,817,103.28 | -140.45 | | 營業收入 | 2,993,854,049.22 | -22.89 | | 歸屬於上市公司股東的淨利潤 | 555,582,922.16 | 24.17 | | 歸屬於上市公司股東的扣除 | | | | 非經常性損益的淨利潤 | 554,847,435.31 | 26.01 | | 加 權 平 均 淨 資 產 收 益 率（%） | 1.57 | 減 少0.07個百分點 | | 基 本 每 ...