Revenue and Profit - For the nine months ended September 30, 2025, the company's revenue reached RMB 14,130,348 thousand, an increase of 8.85% compared to RMB 12,980,182 thousand in the same period of 2024[4] - The gross profit for the same period was RMB 5,032,123 thousand, a decrease of 7.66% from RMB 5,451,809 thousand in 2024[4] - The net profit attributable to the company for the nine months was RMB 6,169,027 thousand, representing a 18.66% increase from RMB 5,199,253 thousand in 2024[4] - Earnings per share for the period was RMB 69.91, compared to RMB 68.87 in the previous year, reflecting a growth of 1.51%[8] - The company reported a significant increase in securities investment income, which rose to RMB 2,481,618 thousand from RMB 1,030,103 thousand, marking a growth of 141.56%[4] Expenses and Costs - Administrative expenses increased to RMB 106,846 thousand from RMB 89,748 thousand, indicating a rise of 19.06%[4] - The financing costs decreased to RMB 1,129,040 thousand from RMB 1,325,958 thousand, showing a reduction of 14.79%[4] - The company’s operating costs increased to RMB 9,098,225 thousand from RMB 7,528,373 thousand, reflecting a rise of 20.93%[4] Assets and Liabilities - Non-current assets increased to RMB 72,975,775 thousand in 2025 from RMB 71,258,072 thousand in 2024, reflecting a growth of 2.4%[9] - Current assets rose significantly to RMB 214,411,614 thousand in 2025, up from RMB 145,924,295 thousand in 2024, marking an increase of 46.9%[9] - Net current assets improved to RMB 57,522,188 thousand in 2025, compared to RMB 37,658,318 thousand in 2024, representing a growth of 52.7%[9] - Total assets minus current liabilities increased to RMB 130,497,963 thousand in 2025 from RMB 108,916,390 thousand in 2024, a rise of 19.8%[9] - The company’s total liabilities increased to RMB 130,497,963 thousand in 2025 from RMB 108,916,390 thousand in 2024, reflecting a rise of 19.8%[9] Cash Flow - Cash flow from operating activities for the nine months ended September 30, 2025, was RMB 3,042,520 thousand, compared to RMB 8,886,475 thousand for the same period in 2024, indicating a decrease of 65.8%[10] - Net cash used in investing activities was RMB (9,707,651) thousand in 2025, compared to RMB (7,537,080) thousand in 2024, reflecting an increase in cash outflow of 29.0%[10] - Cash and cash equivalents at the end of the period increased to RMB 28,090,245 thousand in 2025 from RMB 20,588,919 thousand in 2024, a growth of 36.2%[10] - The company reported a net cash inflow from financing activities of RMB 13,831,308 thousand in 2025, compared to a net cash outflow of RMB (4,589,846) thousand in 2024, indicating a significant turnaround[10] Equity - Total equity attributable to owners of the company rose to RMB 49,265,949 thousand in 2025 from RMB 46,040,953 thousand in 2024, an increase of 4.8%[9] - The company’s share of profits from joint ventures was RMB 136,506 thousand, a significant increase from RMB 12,401 thousand in the previous year[4]

Core Insights - Zhejiang Hu-Hang-Yong (00576.HK) reported significant growth in revenue and net profit for its subsidiary, Zheshang Securities, in the first three quarters of 2025 [1] Financial Performance - Zheshang Securities achieved revenue of 6.789 billion yuan, representing a year-on-year increase of 66.73% [1] - The net profit attributable to shareholders of Zheshang Securities was 1.892 billion yuan, reflecting a year-on-year growth of 49.57% [1] - Basic earnings per share stood at 0.42 yuan [1]

Core Insights - Zhejiang Hu-Hang-Yong (00576) announced significant financial growth for its subsidiary Zheshang Securities (601878.SH) in the first three quarters of 2025, with operating revenue reaching 6.789 billion yuan, a year-on-year increase of 66.73% [1] - The net profit attributable to shareholders of the listed company was 1.892 billion yuan, reflecting a year-on-year growth of 49.57% [1] - Basic earnings per share stood at 0.42 yuan [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 ） – 1 – 本報告期末 上年度末 上年度末增減 (%) 公 告 浙商證券 截 至2025年9月30日止三季度 之主要財務資料 浙 江 滬 杭 甬 高 速 公 路 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）欣 然 公 佈 本 公 司 之 子 公 司，浙 商 證 券 股 份 有 限 公 司（「浙商證券」，其A股於上 海 證 券 交 易 所 上 市 及 買 賣）（證 券 代 碼：601878）於2025年10月30日刊發其 2025年 三 季 度 報 告（「該報告」）。 董事會謹請本公司股東及公眾投資者留意以下該報告所載浙商證券截 至2025年9月30日 止 三 季 度 之 主 要 財 務 數 據： 單 位：元 幣 種 ...

(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」）於二零二五年十月三十日在上海證券交易所網站刊登的浙商證券關於會 計政策變更的公告，僅供參閱。 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 ) 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，二零二五年十月三十日 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、范燁先生和黃建樟先生；本 公司獨立非執行董事包括：貝克偉先生、李惟琤女士和虞明遠先生。 证券代码：60187 ...

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) 袁迎捷 董事長 中國杭州，二零二五年十月三十日 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」）於二零二五年十月三十日在上海證券交易所網站刊登的浙商證券關於第 四屆董事會第三十七次會議決議公告，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 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、范燁先生和黃建樟先生；本 公司獨立非執行董事包括：貝克偉先生、李惟琤女士和虞明遠先生。 本公 ...

Core Viewpoint - The event held on October 29, 2025, showcased the transformation of highway services in Zhejiang Province from basic passage to a multi-dimensional service model, enhancing the travel experience for drivers [1] Group 1: Event Overview - The "i上浙高速" car friend festival and "4+2 city circle tour season" was successfully held at the Ningbo Fenghua toll station, marking the first "card friend community" in Zhejiang Province [1] - The event highlighted various innovative service scenarios, including the "card friend community" and the "智在购" convenience store, which aim to provide a richer and more convenient travel experience for drivers [1] Group 2: Card Friend Community Features - The "card friend community" at Fenghua toll station features four functional areas: a fitness room with professional equipment, a cozy rest area, a shower room with 24-hour hot water, and a health station equipped with basic medical testing devices [3] - The community also provides a space for truck drivers to engage in industry exchanges and skill training, reflecting a significant shift in service philosophy from basic rest to comprehensive support [3] Group 3: Smart Service Innovations - The "智在购" 24-hour convenience store promotes a shift from basic service to smart service, integrating offline shopping with online reservations through the "智在行" app for a seamless shopping experience [4] - Over the past year, the company has launched numerous service innovations, including 150 online broadcasts, 23 toll stations selling products, and 195 charging stations for electric vehicles [4] Group 4: Cultural and Economic Integration - The event featured a "奉川·三七市" cultural exhibition area that combines agricultural support with local culture, creating a new platform for local agricultural products and enhancing rural revitalization efforts [4] - This innovative model of "transportation + agriculture + culture" provides new sales channels for local products and demonstrates the integration of highway services with economic benefits [4] Group 5: Driver Support Initiatives - The company is implementing a "truck driver service enhancement initiative," which includes 320 fatigue prevention parking spaces, a "midnight canteen," and health stations for drivers [5] - The "driver health escort plan" has engaged over 5,000 drivers, providing health packages to 200 outstanding truck drivers [5] Group 6: Future Directions - The company aims to continue enhancing service brand development, focusing on innovative concepts, smart methods, and humanistic care to enrich highway service offerings [7] - The commitment to providing a comprehensive service experience across travel, culture, finance, and daily life reflects the company's dedication to improving the travel experience for all users [7]

Core Viewpoint - Zhejiang Huhangyong (00576.HK) has received approval from the Shenzhen Stock Exchange to conduct a pilot program for equity incentive financing for listed companies, which is expected to enhance its financial flexibility and growth potential [1] Group 1: Company Ratings - The majority of investment banks have a "Buy" rating for Zhejiang Huhangyong, with two banks issuing buy ratings in the last 90 days [1] - Huatai Securities has set a target price of HKD 8.25 for Zhejiang Huhangyong [1] - The average target price from the two investment banks is also HKD 8.25 [1] Group 2: Market Position and Financial Metrics - Zhejiang Huhangyong has a market capitalization of HKD 15.458 billion, ranking second in the highway II industry [1] - Key financial metrics for Zhejiang Huhangyong compared to the industry average are as follows: - ROE: 12.14% vs. industry average of 7.45%, ranking 2nd [1] - Market capitalization: HKD 15.458 billion vs. industry average of HKD 6.277 billion, ranking 2nd [1] - Revenue: HKD 18.383 billion vs. industry average of HKD 7.448 billion, ranking 2nd [1] - Net profit margin: 45.19% vs. industry average of 17.45%, ranking 2nd [1] - Gross profit margin: 39.62% vs. industry average of 36.0%, ranking 4th [1] - Debt ratio: 67.87% vs. industry average of 70.33%, ranking 11th [1]

Core Viewpoint - Zhejiang Hu-Hang-Yong (00576) announced that Zheshang Securities (601878) has received approval from the Shenzhen Stock Exchange to conduct a pilot program for financing the exercise of stock options for listed companies [1] Group 1 - Zheshang Securities has been granted permission to initiate a pilot program for stock option exercise financing [1] - The approval is documented in the letter from the Shenzhen Stock Exchange, reference number Shen Zhen Han [1]

Group 1 - Zhejiang Hu-Hang-Yong (00576) announced that Zheshang Securities has received approval from the Shenzhen Stock Exchange to conduct a pilot program for equity incentive exercise financing for listed companies [1] - The approval is documented in the letter from the Shenzhen Stock Exchange, reference number 深证函〔2025〕1003 号 [1] - This pilot program is expected to enhance the financing capabilities of listed companies through equity incentive mechanisms [1]