Revenue and Profit - Revenue for the nine months ended September 30, 2024, was RMB 12,980,182 thousand, an increase of 1.95% compared to RMB 12,731,986 thousand in 2023[2] - Gross profit for the same period was RMB 5,451,809 thousand, down 3.29% from RMB 5,637,306 thousand in 2023[2] - Net profit for the period was RMB 5,199,253 thousand, representing an increase of 3.87% from RMB 5,005,781 thousand in 2023[2] - Earnings per share (basic) for the period was RMB 68.87, compared to RMB 90.38 in 2023, reflecting a decrease of 23.83%[5] Assets and Cash Flow - Total assets as of September 30, 2024, were RMB 65,254,578 thousand, up from RMB 60,405,113 thousand as of December 31, 2023[6] - Cash and cash equivalents at the end of the period were RMB 20,588,919 thousand, down from RMB 21,032,528 thousand in 2023[7] - Operating cash inflow for the nine months was RMB 8,886,475 thousand, slightly up from RMB 8,840,900 thousand in 2023[7] - Investment activities resulted in a net cash outflow of RMB (7,537,080) thousand, compared to RMB (13,954,072) thousand in 2023, indicating improved cash management[7] Investment Income and Interests - The company reported a significant increase in securities investment income to RMB 1,030,103 thousand from RMB 884,494 thousand in 2023, marking a growth of 16.46%[2] - The company’s non-controlling interests amounted to RMB 22,145,372 thousand as of September 30, 2024, compared to RMB 20,612,897 thousand in 2023, indicating growth in minority interests[6]

Financial Performance - The group's revenue for the first half of 2024 increased by 1.4% year-on-year, reaching RMB 8.376 billion[7]. - Profit attributable to the company's owners for the same period was RMB 2.680 billion, a year-on-year increase of 4.7%[7]. - Basic earnings per share decreased by 20.4% to RMB 0.4472, while diluted earnings per share fell by 18.4% to RMB 0.4404[7]. - Total revenue for the group reached RMB 8.3676 billion, a year-on-year increase of 1.4%[9]. - Revenue from highway operations amounted to RMB 5.1126 billion, up 2.2% year-on-year, accounting for 61.1% of total revenue[9]. - Securities business revenue decreased to RMB 2.8059 billion, down 11.2% year-on-year, representing 35.5% of total revenue[9]. - The group reported a significant increase in other business revenue, which rose by 435.7% to RMB 449.1 million[9]. - The segment profit for the highway business was RMB 2,125,371 thousand, while the securities business generated a profit of RMB 803,521 thousand, contributing to a total segment profit of RMB 3,343,806 thousand for the first half of 2024[58]. Dividend and Shareholder Returns - The board of directors proposed not to distribute an interim dividend for 2024[7]. - The net profit of the joint venture Hangning Company reached RMB 253.15 million, reflecting a year-on-year growth of 22.9%[18]. - The total comprehensive income attributable to the owners of the company for the period ended June 30, 2024, was RMB 40,774,956 thousand[49]. Business Strategy and Development - The company is focusing on enhancing its core business competitiveness and digital transformation to drive high-quality development[2]. - The company aims to leverage resources along the expressway to create a development model that integrates its main business with related industries[2]. - The group is committed to becoming an international investment holding company primarily focused on transportation infrastructure investment and operation[2]. - The company is actively adjusting its business layout and enhancing risk management to ensure stable development amid industry challenges[2]. - The company will focus on its core business, enhancing profit centers and implementing cost management measures to improve operational efficiency[33]. - The group plans to accelerate digital construction and improve the conversion and industrialization of innovative results, leveraging digitalization and technology for high-quality development[33]. Traffic and Operations - Average daily traffic volume on the group's highways increased by 2.62% for the Shanghai-Hangzhou-Ningbo Expressway, with toll revenue of RMB 2.3807 billion, a 1.0% increase[14]. - Truck traffic volume on the highways grew by 5.3% year-on-year, reflecting a recovery in logistics demand[10]. - The average daily traffic volume for the Huangqunan Expressway increased by 7.53%, with toll revenue of RMB 261.98 million, a 5.4% increase[14]. - The average daily traffic on the Shaoxing section of the Yongjin Expressway was 29,998 vehicles, a year-on-year increase of 2.59%, generating toll revenue of RMB 264.21 million, up 4.4%[18]. Acquisitions and Investments - The group completed the acquisition of the remaining 40% stake in Yonglan Expressway in January 2024, following a previous 60% acquisition in 2023[12]. - The company acquired a 34.25% stake in Guodu Securities to enhance resource integration and market competitiveness[15]. - The company acquired 100% equity of Huangqunan Highway Company for RMB 16,700,000 thousand, which was approved by the board on September 7, 2023[53]. Financial Position and Liabilities - As of June 30, 2024, the group’s current assets totaled RMB 136.58 billion, down from RMB 152.83 billion at the end of 2023[21]. - The group’s total liabilities were RMB 135.74 billion, a decrease of 7.8% from RMB 147.32 billion at the end of 2023[23]. - The group’s cash inflow from operating activities was RMB 6.49 billion, with no significant changes in the currency composition of cash and cash equivalents compared to the previous year[22]. - The company’s liquidity ratio remained stable at 1.50, indicating consistent financial health[21]. - The total liabilities of the group amounted to RMB 55,297,910,000, with a debt-to-asset ratio of 68.7%, down from 70.9% as of December 31, 2023[25]. - The total equity of the group as of June 30, 2024, was RMB 61,784,100,000, with fixed-rate debt constituting 31.3% and floating-rate debt constituting 50.0% of total capital[25]. Market Conditions and Outlook - The securities industry faced significant challenges, but the group's subsidiary, Zheshang Securities, maintained better-than-average performance in the industry[2]. - The geopolitical tensions are expected to persist in the short term, impacting the global political and economic landscape, while China's economy is in a critical recovery and transformation phase[32]. - The group anticipates continued growth in highway traffic volume and toll revenue under favorable macroeconomic conditions[32]. Employee and Corporate Governance - As of June 30, 2024, the group had a total of 10,500 employees, a slight decrease from 10,653 employees as of December 31, 2023[39]. - The board of directors confirmed compliance with the corporate governance code and standards during the reporting period[38]. Financial Instruments and Debt - The group issued zero-coupon convertible bonds totaling EUR 230 million, with net proceeds of approximately EUR 229 million used to repay existing borrowings[30]. - The fixed interest rates for domestic commercial bank loans ranged from 2.69% to 4.0%, while floating rates ranged from 2.75% to 3.75% as of June 30, 2024[25]. - The company has established strict controls on overdue receivables to minimize credit risk, with overdue balances monitored regularly by management[69]. Research and Development - The company is investing in new technology development, allocating $50 million towards R&D initiatives[141].

Financial Performance - The group's revenue for the six months ended June 30, 2024, increased by 1.4% year-on-year to RMB 8,367.6 million[3] - Profit attributable to the owners of the company rose by 4.7% year-on-year to RMB 2,680.1 million[3] - Basic earnings per share decreased by 20.4% year-on-year to RMB 44.72 cents, while diluted earnings per share fell by 18.4% to RMB 44.04 cents[3] - The group reported a gross profit of RMB 3,686.4 million, compared to RMB 3,464.6 million in the same period last year[5] - The total comprehensive income attributable to owners of the company for the period was RMB 2,779.2 million, compared to RMB 2,642.8 million in the previous year[11] - The group recorded a net profit of RMB 3,343.8 million for the period, up from RMB 3,273.8 million in the same period last year[11] - Other income and gains increased significantly to RMB 446.6 million from RMB 80.8 million year-on-year[5] - The company's net profit attributable to shareholders for the six months ended June 30, 2024, was RMB 2,680,010 thousand, an increase of 4.8% compared to RMB 2,558,492 thousand in 2023[42] Dividends and Shareholder Returns - The group will not declare an interim dividend for 2024[4] - The company's basic earnings per share decreased by RMB 5.14 cents and diluted earnings per share decreased by RMB 4.71 cents due to the acquisition[26] Assets and Liabilities - Non-current assets decreased from RMB 62.02 billion in 2023 to RMB 54.35 billion in 2024, a decline of approximately 12.7%[13] - Total current assets decreased from RMB 152.86 billion in 2023 to RMB 136.51 billion in 2024, representing a reduction of about 10.7%[15] - Total liabilities decreased from RMB 103.31 billion in 2023 to RMB 91.28 billion in 2024, a decrease of approximately 11.6%[17] - The company's equity attributable to owners increased from RMB 39.79 billion in 2023 to RMB 40.77 billion in 2024, reflecting a growth of about 2.5%[19] - The cash and cash equivalents decreased from RMB 23.83 billion in 2023 to RMB 20.63 billion in 2024, a decline of approximately 13.2%[17] - The company's total assets decreased from RMB 60.41 billion in 2023 to RMB 61.77 billion in 2024, an increase of about 2.2%[19] - The company's short-term borrowings decreased from RMB 4.59 billion in 2023 to RMB 2.23 billion in 2024, a reduction of approximately 51.5%[17] - The company's total current liabilities decreased from RMB 49.56 billion in 2023 to RMB 45.23 billion in 2024, a decrease of about 8.5%[17] Acquisitions and Business Combinations - The company acquired 100% equity of Huangqunan Company for RMB 16,700,000, which operates a toll road in Zhejiang Province, with a total length of 161 kilometers[23] - The acquisition is considered a business combination under common control, resulting in a decrease in comprehensive income attributable to the owners of the company by RMB 104,604,000 for the period ended June 30, 2023[24][26] - The company plans to complete the merger and rename Huangqunan Company to Zhejiang Longlilong Highway Co., Ltd. Quzhou Branch by the end of November 2023[23] Revenue Breakdown - Revenue from the highway business for the six months ended June 30, 2024, was RMB 5,112,572, an increase from RMB 5,004,028 for the same period in 2023, representing a growth of 2.2%[30][33] - The group reported segment profit of RMB 2,125,371 from the highway business for the six months ended June 30, 2024, up from RMB 1,787,860 for the same period in 2023, reflecting a growth of 18.9%[30] - Securities business revenue decreased by 11.2% year-on-year to RMB 2.8059 billion, representing 35.5% of total revenue[73] Financial Instruments and Debt - The company issued zero-coupon convertible bonds totaling EUR 230 million on January 20, 2021, which are set to mature in 2026[51] - The latest conversion price for the convertible bonds as of June 30, 2024, is HKD 6.29 per share, down from the initial conversion price of HKD 8.83[52] - The total amount of convertible bonds 2021 issued is approximately €183,297,000, equivalent to RMB 1,443,009,000, with an effective interest rate of 4.74%[58] - As of June 30, 2024, a total of €202,600,000 of convertible bonds 2021 have been redeemed, leaving a remaining principal of €27,400,000[60] - The company has not yet exercised the redemption rights for convertible bonds 2022 as of June 30, 2024[67] - The total interest-bearing borrowings amounted to RMB 55.29791 billion, a decrease of 3.7% from December 31, 2023[97] Operational Highlights - The group has implemented a development strategy focusing on profit centers, service centers, and brand centers to enhance operational capabilities[78] - The group launched initiatives such as "Holiday Economy" and "Freight Flow" to enhance revenue from highway operations[78] - The average daily traffic volume for the group's highways was 89,094 vehicles, with a year-on-year growth of 2.62%[81] - The group expects continued growth in highway traffic and toll revenue in the second half of 2024, supported by a recovering macroeconomic environment[109] Market and Economic Context - The overall GDP growth in Zhejiang Province was 5.6%, surpassing the national average of 5.0%[69] - The securities industry faces challenges such as market volatility and increased competition, but also opportunities from capital market reforms and financial technology developments[112] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules during the reporting period[117] - There have been no significant events affecting the company since the end of the reporting period[114] Future Outlook - The company aims to enhance core competitiveness and promote high-quality sustainable development amidst complex domestic and international situations[113] - The company is focusing on smart transportation, integration of transportation and energy, and road-related economies to cultivate new industry growth points[113] - The company aims to deepen its integration into the real economy by enhancing comprehensive financial services for corporate clients[112]

Financial Performance - Revenue for Q1 2024 reached RMB 4,001,897 thousand, a 1.7% increase from RMB 3,934,861 thousand in Q1 2023[2] - Gross profit for the period was RMB 1,723,409 thousand, slightly down from RMB 1,725,752 thousand in the same period last year[2] - Net profit for Q1 2024 was RMB 1,750,310 thousand, a decrease of 7.1% compared to RMB 1,885,946 thousand in Q1 2023[2] - Basic earnings per share for Q1 2024 were RMB 23.25, down from RMB 33.27 in Q1 2023[3] - Other comprehensive income for the period was RMB 106,230 thousand, compared to RMB 2,062 thousand in Q1 2023[3] Assets and Cash Flow - Total assets as of March 31, 2024, were RMB 105,961,663 thousand, compared to RMB 104,427,467 thousand as of December 31, 2023[4] - Cash and cash equivalents decreased to RMB 22,394,268 thousand from RMB 27,206,506 thousand year-over-year[6] - Operating cash inflow for Q1 2024 was RMB 1,213,923 thousand, a significant improvement from an outflow of RMB 948,676 thousand in Q1 2023[6] Financing and Interests - The company reported a decrease in financing costs to RMB 472,402 thousand from RMB 478,194 thousand year-over-year[2] - Non-controlling interests increased to RMB 20,997,133 thousand from RMB 20,612,897 thousand year-over-year[5]

Financial Performance - Zhejiang Expressway reported a revenue of RMB 5.2 billion for the fiscal year 2023, representing a year-on-year increase of 12%[4] - The company achieved a net profit of RMB 1.8 billion, which is a 15% increase compared to the previous year[4] - Total revenue for 2023 increased by 10.7% year-on-year to RMB 16,965,024,000[32] - Profit attributable to the company owners grew by 0.9% year-on-year to RMB 5,223,679,000[32] - The return on equity for 2023 was 16.0%[23] - Basic earnings per share for 2023 were RMB 112.95[22] - The gross profit for the year was RMB 7,199,339,000, compared to RMB 5,966,652,000 in the previous year, indicating a growth of about 20.6%[145] - The net profit attributable to the company's owners for 2023 was RMB 5,223,679,000, slightly up from RMB 5,178,666,000 in 2022, reflecting a growth of 0.9%[145] - The company's total debt as of December 31, 2023, was RMB 207,733,802 thousand, with a leverage ratio of 169.7%, down from 188.9% in 2022[61] Traffic and Operations - User traffic on the expressways increased by 8% year-on-year, with a total of 150 million vehicles recorded[4] - The average daily traffic volume on the Shanghai-Hangzhou-Ningbo Expressway reached 88,721 vehicles, representing a year-on-year increase of 31.80%, with toll revenue of RMB 4,901.17 million, up 23.4%[43] - The average daily traffic volume on the Yongjin Expressway Jinhua section was 33,710 vehicles, a year-on-year increase of 26.26%, generating toll revenue of RMB 557.16 million, up 19.5%[43] - The average daily traffic volume on the Yongjin Expressway Shaoxing section was 29,986 vehicles, a year-on-year increase of 21.63%, with toll revenue of RMB 536.65 million, up from RMB 469.88 million in 2022[47] - The group achieved a significant increase in toll revenue due to the recovery of traffic flow post-pandemic, particularly in tourist routes like the Hu-Hang-Yong and Zhoushan Cross-Sea Bridge[40] Strategic Initiatives - The company plans to expand its network by adding 200 kilometers of new expressways by the end of 2024[4] - Zhejiang Expressway is investing RMB 500 million in new technology for toll collection systems to enhance efficiency[4] - Future guidance indicates a projected revenue growth of 10-15% for 2024, driven by increased traffic and new projects[4] - The company plans to actively seize opportunities for investment and acquisition of quality projects to enhance its core competitiveness[8] - The company aims to develop its securities business to increase profitability contributions to the group[8] Governance and Leadership - The company appointed a new chairman and general manager in August and September 2023, respectively, reflecting a leadership change[14] - The company confirmed compliance with the latest amendments to the Listing Rules and Corporate Governance Code, ensuring adherence to regulatory standards[80] - The company has established a robust corporate governance structure to ensure compliance and effective risk management[96] - The company has a clear policy for director training and development, ensuring that all directors are well-informed about their responsibilities[85] - The company has seen a shift in its board composition, with several new appointments and changes in 2023, enhancing governance and oversight[119] Risks and Challenges - The management highlighted potential risks including regulatory changes and economic fluctuations that could impact performance[4] - The company anticipates challenges in highway traffic volume and toll revenue due to external factors such as new railways and highways that may divert traffic starting in 2024[72] - The Zhejiang provincial government has approved a 5% discount on tolls for all ETC vehicles, with an 15% discount for certain freight vehicles, which may impact future revenue[74] - The company is facing significant risks from market volatility in its securities business, which could affect profitability and trading volumes[75] - Regulatory risks in the securities sector may lead to fines or restrictions that could adversely impact the company's financial condition and reputation[76] Investments and Acquisitions - The company has initiated a merger with a local infrastructure firm, expected to be completed by Q3 2024, which will enhance operational capabilities[4] - The company acquired a 15% stake in Wenzhou Yongtaiwen Company for RMB 816,150,000 and 100% of Huangqunan Company for RMB 16,700,000[15] - The company completed a rights issue in December 2023, raising approximately RMB 6.15 billion, increasing the total number of shares to 5,993,498,010[16] - The company signed a joint venture agreement with China Merchants Highway, each contributing RMB 1.3416 billion for a 50% stake in the joint venture[16] - The company entered into an investment agreement for the expansion of the Zhajiasu Expressway project, with its subsidiary designated as the project company[14] Sustainability and Development - The company is focusing on sustainable development, with plans to implement eco-friendly practices across its operations[4] - The group plans to focus on sustainable development and expand into green low-carbon and new energy sectors[35] - The company is committed to enhancing its operational capabilities in the securities market by leveraging new business opportunities from the Beijing Stock Exchange[70] Shareholder Relations - The company announced a final dividend of RMB 0.375 per share during the 2022 annual general meeting[12] - A dividend of RMB 0.32 per share has been proposed to reward shareholders[36] - The dividend policy ensures that the dividends for 2023 to 2025 will not be less than 75% of the distributable profits, with the current period's dividend payout at approximately 94.1% of the distributable profits[104] Employee and Talent Management - In 2023, the company had a total of 10,653 employees, with 5,407 in highway operations and 5,246 in securities-related positions[71] - The company has introduced a talent development plan to improve workforce efficiency and has successfully recruited 25 high-demand technical talents[71] - The management team includes professionals with advanced degrees and extensive experience in their respective fields, enhancing the company's operational capabilities[126][127][128][129][130][131][132][135][136][137] Financial Management - The total current assets of the group as of December 31, 2023, amounted to RMB 152.86 billion, an increase from RMB 146.21 billion as of December 31, 2022[51] - The company's debt-to-asset ratio was 70.9% as of December 31, 2023, down from 74.2% in 2022[61] - The net cash inflow from operating activities during the period was RMB 9.81 billion[54] - The interest expense for the period totaled RMB 2.14 billion, with an EBITDA to interest coverage ratio of 4.7[58] Corporate Social Responsibility - The group made charitable donations totaling RMB 8,604,000 during the year[149] - The company has a commitment to transparency and effective communication with investors, ensuring timely access to information[102]

Financial Performance - Revenue increased by 10.7% year-on-year, reaching RMB 16,965.024 million[3] - Profit attributable to owners of the company grew by 0.9% year-on-year, amounting to RMB 5,223.679 million[7] - Basic earnings per share were RMB 112.95, while diluted earnings per share were RMB 105.32[4] - Proposed dividend per share is RMB 0.32, down from RMB 0.375 per share in 2022[4] - Gross profit rose to RMB 7,199.339 million, compared to RMB 5,966.652 million in the previous year[6] - Profit before tax was RMB 7,851.538 million, up from RMB 7,342.061 million in 2022[6] - Total comprehensive income for the year attributable to owners of the company was RMB 5,327.819 million[7] - The company reported a significant increase in securities investment income, rising to RMB 1,024.960 million from RMB 679.734 million[6] - The segment profit for the highway business was RMB 3,890,536 thousand for the year ended December 31, 2023, compared to RMB 3,841,689 thousand for the previous year, indicating a slight increase of about 1.3%[32] - The securities business generated a segment profit of RMB 1,915,533 thousand in 2023, up from RMB 1,709,964 thousand in 2022, reflecting a growth of approximately 12.0%[32] - The other business segment reported a profit of RMB 816,261 thousand for 2023, compared to RMB 751,357 thousand in 2022, which is an increase of about 8.6%[32] Assets and Liabilities - Non-current assets increased to RMB 62,020.21 million in 2023 from RMB 59,128.26 million in 2022, representing a growth of 3.2%[8] - Current assets rose to RMB 152,862.43 million in 2023, up from RMB 146,213.77 million in 2022, indicating an increase of 4.5%[10] - Total liabilities increased to RMB 103,306.34 million in 2023 from RMB 101,556.37 million in 2022, reflecting a growth of 1.7%[12] - The company's equity attributable to owners increased to RMB 39,792.22 million in 2023, compared to RMB 30,008.84 million in 2022, marking a significant rise of 32.5%[14] - The total assets less current liabilities increased to RMB 104,427.47 million in 2023 from RMB 89,305.04 million in 2022, showing a growth of 17%[12] - The company's borrowings decreased to RMB 13,213.54 million in 2023 from RMB 17,302.73 million in 2022, a reduction of 23.5%[14] - The company's total equity increased to RMB 60,405.11 million in 2023, compared to RMB 49,300.21 million in 2022, indicating a growth of 22.6%[14] - The total liabilities of the group as of December 31, 2023, were RMB 147,328,689 thousand, compared to RMB 141,561,200 thousand in 2022, indicating an increase of about 4.0%[34] Cash Flow and Investments - The company's cash and cash equivalents stood at RMB 23,830.44 million in 2023, slightly down from RMB 23,990.17 million in 2022, a decrease of 0.7%[10] - The company reported a net cash inflow from operating activities of RMB 9.81 billion for the period[110] - Capital expenditures during the period amounted to RMB 3.33 billion, with RMB 1.78 billion allocated for equity investments[117] - The group has total capital expenditure commitments of RMB 6.24 billion, with RMB 1.01 billion designated for equity investments[117] Debt and Financing - The interest expense for the period totaled RMB 2.14 billion, resulting in an EBITDA interest coverage ratio of 4.7[115] - The total interest-bearing borrowings of the group reached RMB 57.41 billion, representing a growth of 4.5% compared to the previous year[112] - The group provided guarantees for bank borrowings totaling RMB 2.2 billion for Shenxin Company, with an outstanding balance of RMB 518.97 million as of December 31, 2023[120] - The company recorded interest expenses of RMB 228,084,000 related to the convertible bond in 2023[73] Revenue Sources - The revenue from the highway business for the year ended December 31, 2023, was RMB 10,423,833 thousand, up from RMB 9,093,380 thousand in 2022, representing a growth of approximately 14.6%[41] - Securities business revenue was RMB 6,372,289,000, reflecting a 4.8% increase from RMB 6,080,383,000 in the previous year[86] - The group’s highway toll revenue from major highways contributed RMB 10,423,833,000, accounting for 61.4% of total revenue[84] - The group’s securities business generated RMB 63,722,290,000, which accounted for 37.6% of total revenue[84] Market and Economic Conditions - The group achieved a GDP growth of 5.2% in 2023, with Zhejiang Province's GDP growing by 6.0%[83] - The company expects stable growth in highway traffic volume and toll revenue in 2024, supported by a recovering Chinese economy[125] - The company is actively promoting market-oriented measures to increase revenue following the surge in self-driving travel post-pandemic[92] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules during the reporting period[136] - The company has not engaged in any significant transactions involving its listed securities during the reporting period[135] Future Plans and Strategies - The company plans to deepen capital market reforms and enhance its service capabilities in response to market changes[128] - The company aims to enhance operational efficiency and reduce costs through digital transformation and technological innovation[126] - The company will focus on high-quality development, strengthening its highway business and optimizing its securities and financial services[129]

Financial Performance - For the nine months ended September 30, 2023, the company reported total revenue of RMB 12,350,187 thousand, an increase of 9.34% compared to RMB 11,296,067 thousand for the same period in 2022[4] - The gross profit for the same period was RMB 5,629,461 thousand, representing a 19.88% increase from RMB 4,694,836 thousand in 2022[4] - The net profit for the period was RMB 5,159,133 thousand, up 37.53% from RMB 3,750,440 thousand in the previous year[4] - The company reported a basic earnings per share of RMB 93.91 for the current period, compared to RMB 67.71 for the same period last year, indicating a significant increase of 38.67%[5] - The financing costs for the period were RMB 1,320,053 thousand, slightly reduced from RMB 1,368,690 thousand in the previous year[4] - The company recorded other comprehensive income of RMB 82,485 thousand for the current period, compared to RMB 57,488 thousand in the previous year, showing an increase of 43.39%[5] Assets and Equity - The company's total assets as of September 30, 2023, were RMB 199,639,328 thousand, compared to RMB 186,405,524 thousand at the end of 2022, reflecting a growth of 7.09%[6] - The total equity attributable to the owners of the company increased to RMB 33,236,987 thousand from RMB 30,918,290 thousand at the end of 2022, marking an increase of 7.56%[6] Cash Flow - The cash and cash equivalents at the end of the period were RMB 20,911,420 thousand, a decrease from RMB 23,917,236 thousand at the beginning of the period[7] - The company’s net cash inflow from operating activities was RMB 8,718,485 thousand, a substantial increase from RMB 1,509,583 thousand in the same period of 2022[7]

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） 內幕消息 二零二三年三季度最新經營狀況 本公告由浙江滬杭甬高速公路股份有限公司（「本公司」，連同其附屬公司統稱「本 集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條 及香港法例第571章《證券及期貨條例》第XIVA部項下之內幕消息條文作出。 基於對本集團截至二零二三年九月三十日止九個月（「本期間」）未經審計合併經營 業績及其他現有資料的初步評估，本公司董事（「董事」）會（「董事會」）謹此知會本 公司股東及潛在投資者，預期本集團本期間將錄得除稅前溢利約為人民幣58億元 至人民幣63億元。 上述數據僅依據董事對未經審計合併經營業績及其他現有資料的初步評估所作出， 並未經本公司審計師或審核委員會審核或審閱，故可能進一步作出調整或修訂。 具體財務數據應以本公司截至二零二三年九月三十日止九個月的二零二三年三季 ...

Financial Performance - The group's revenue for the first half of 2023 increased by 13.8% year-on-year, reaching RMB 8.0066 billion[6]. - Net profit attributable to the company's owners rose by 67.9% year-on-year to RMB 2.6631 billion[6]. - Basic earnings per share increased by 67.9% to RMB 0.6132, while diluted earnings per share grew by 60.6% to RMB 0.5867[6]. - The company's total revenue for the first half of 2023 reached RMB 8,000,657,000, representing a year-on-year increase of 13.8% compared to RMB 7,028,121,000 in 2022[11]. - Gross profit for the same period was RMB 3,465,180,000, up 23.2% from RMB 2,811,594,000 year-over-year[68]. - The net profit for the period was RMB 3,378,364,000, which is a 64.8% increase compared to RMB 2,047,230,000 in the previous year[68]. - The company reported a net profit attributable to shareholders for the six months ended June 30, 2023, was RMB 2,663,096,000, an increase of 68.2% compared to RMB 1,586,274,000 in the same period of 2022[88]. - Earnings per share for 2023 was RMB 64, down from RMB 123.9 in 2022, reflecting a decrease of approximately 48%[178]. - The company reported a return on equity of 10.2% for 2023, compared to 18.2% in 2022, indicating a decline in profitability[175]. Revenue Sources - Revenue from the eight main highways operated by the group increased by 17.5% year-on-year, contributing RMB 4.75546 billion, accounting for 59.4% of total revenue[9]. - Securities business revenue grew by 8.5% year-on-year to RMB 3.16136 billion, representing 39.5% of total revenue[9]. - The highway business generated revenue of RMB 4,755,464,000, up 17.5% from RMB 4,047,666,000 in the same period last year[11]. - The hotel and catering business experienced a revenue increase of 62.6%, with total revenue reaching RMB 60,001,000 compared to RMB 36,908,000 in 2022[11]. - The revenue from the securities business, including commission and fees, was RMB 1,976,906 thousand for the six months ended June 30, 2023, compared to RMB 1,738,076 thousand in the same period of 2022, reflecting a growth of 13.8%[82]. Operational Highlights - The average daily traffic volume across the company's highways increased significantly, with the Hangzhou-Ningbo Expressway seeing a 46.58% year-on-year increase in traffic volume[18]. - The average daily traffic volume for the Yongjin Expressway Shaoxing section was 29,596 vehicles, reflecting a 23.15% year-on-year increase[23]. - The company is actively promoting government-funded projects and exploring self-initiated discount activities to enhance the attractiveness of "highway + tourism" offerings[16]. - The company has implemented a control model for road construction "window periods" to improve network traffic efficiency and service levels[16]. Strategic Focus - The group is focusing on high-quality development and enhancing core competitiveness through technological innovation and operational reforms[2]. - The company is actively promoting various businesses, including investment banking and securities trading, to achieve stable growth[2]. - The group is advancing capital operations and optimizing existing assets to enhance long-term investment value[2]. - The company plans to enhance its market operations by improving construction efficiency and expanding its "Highway+" product offerings to increase revenue generation capabilities[51]. - The company aims to complete the smart transformation of the entire Shanghai-Hangzhou-Ningbo Expressway, establishing a model for smart highway construction[51]. - The company will explore investment and acquisition opportunities in highway projects while advancing highway expansion projects to ensure sustainable development[53]. Financial Position - As of June 30, 2023, the group's current assets totaled RMB 155.72162 billion, compared to RMB 146.12878 billion as of December 31, 2022[29]. - The group's current ratio was 1.50 as of June 30, 2023, up from 1.40 as of December 31, 2022[29]. - The total liabilities of the group were RMB 143.90528 billion as of June 30, 2023, compared to RMB 136.09586 billion as of December 31, 2022[33]. - The interest expense for the period was RMB 866.8 million, with an earnings before interest and taxes (EBIT) of RMB 4.87107 billion, resulting in an interest coverage ratio of 5.6[37]. - The debt-to-asset ratio was 73.6% as of June 30, 2023, slightly up from 73.1% as of December 31, 2022[38]. - As of June 30, 2023, the total equity of the group was RMB 51.739 billion, with fixed-rate debt at RMB 110.187 billion and floating-rate debt at RMB 14.653 billion, resulting in a leverage ratio of 179.9%[40]. - The company's total liabilities decreased from RMB 19,291,372 thousand as of January 1, 2023, to RMB 19,883,303 thousand as of June 30, 2023, indicating a slight increase of 3.1%[73]. Investments and Acquisitions - The company plans to invest in the expansion of the Zha Jia Su Expressway and the Yongjin Expressway, with funding sourced from internal funds, loans, and rights issue proceeds[63]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[55]. - The company anticipates stable growth in highway traffic and toll revenue in the second half of 2023, supported by government policies aimed at boosting domestic demand and economic recovery[51]. Shareholder Information - As of June 30, 2023, the major shareholder, Transportation Group, holds 100% of the company's issued share capital[57]. - Major shareholders include招商公路 with 18.00% and JP Morgan Chase & Co. with 8.67% of the issued shares[59]. Employee and Operational Metrics - As of June 30, 2023, the company employed 9,289 staff, an increase from 9,143 employees at the end of 2022[62]. - The company provided management and administrative services for eight toll roads, generating service fees of RMB 7,018,000 in the first half of 2023, compared to RMB 6,655,000 in the same period of 2022[127].

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） 2023年中期業績公告 浙江滬杭甬高速公路股份有限公司（「本公司」）董事（「董事」）公佈本公司及其附屬 公司（統稱「本集團」）根據下文簡明合併財務報表附註1所述之呈報基準編製的截 至2023年6月30日止6個月（「本期間」）未經審計合併經營業績。 本期間內，本集團收益與2022年同期相比增長13.8%，為人民幣80億零66萬元；歸 屬於本公司擁有人溢利為人民幣26億6,310萬元，同比增長67.9%；基本每股盈利 為人民幣61.32分，同比增長67.9%，攤薄每股盈利為人民幣58.67分，同比增長 60.6%。 本公司董事會（「董事會」）建議不派發2023年中期股息。 本集團截至2023年6月30日止6個月之簡明綜合財務報表未經本公司審計師審計或 審閱，但已經本公司審核委員會審閱。以下為本期間未經審計的簡明合併損益及 其他綜合收益表及於2 ...