關於我們 目錄 2 業務回顧 14 財務回顧 25 中期股息及暫停辦理股份過戶登記手續 26 其他資料 32 中期財務報告之審閱報告 34 綜合損益表 35 綜合損益及其他全面收益表 36 綜合財務狀況表 38 綜合權益變動表 40 簡明綜合現金流量表 41 未經審核中期財務報告附註 61 五年財務摘要 66 詞彙 71 公司資料 72 財務日誌 深圳投控灣區發展有限公司（「本公司」，前稱合和公路基建有限 公司）於開曼群島註冊成立之有限公司，自二零零三年八月六日 起在香港聯合交易所有限公司上市，股份代號737（港幣櫃檯）及 80737（人民幣櫃檯）。本公司主要經營高速公路業務，發展策略 聚焦於粵港澳大灣區內的基礎設施建設和相關聯業務以及廣深高 速公路沿線土地開發利用。深圳高速公路集團股份有限公司（於 香港聯合交易所有限公司上市之公司（股份代號：548）及上海證 券交易所上市之公司（股份代號：600548））於二零二二年一月 十一日成為本公司的控股股東。 業務回顧 業務總體情況 於回顧期內，廣深高速公路、廣珠西綫高速公路及沿江高速公路（深圳段）的路費收入淨值總計為 約人民幣23.31億元，按年增長1%。高速公路 ...

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，概不對因本公告全部或任何部份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。 Shenzhen Investment Holdings Bay Area Development Company Limited 深 圳 投 控 灣 區 發 展 有 限 公 司 （於開曼群島註冊成立之有限公司） 股份代號：737（港幣櫃檯）及 80737（人民幣櫃檯） 截至二零二四年六月三十日止六個月之中期業績 | --- | --- | |-------|------------------------------------------------------------------------------------------| | | | | | 高速公路沿線城市經濟增長，收費公路營運表現亦保持穩定，但由於二零二四年上 | | ◼ | 半年節假日 7 座或以下客車免費通行措施共實施 17 天，較去年同期多出 4 天，回顧 | | | 期內的分佔淨路費收入按年輕微增長 1% 至約人民幣 12. ...

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，概不對因本公告全部或任何部份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。 註 1: 不包括稅項 註 2: 日均混合車流量不包括在實施節假日免費通行方案期間通行的免費車流量 | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|------------------|--------| | | | | | | Shenzhen Investment Hol ...

深圳投控 灣區發 展 有 限 公 司 (於開曼群島註冊成立之有限公司) 股份代號: 737 (港幣櫃檯) 及 80737 (人民幣櫃檯) 廣州 速w 肇慶 佛山 東莞 深圳 中山 江門 香港 玻璃 澳門 202 關於我們 深圳投控灣區發展有限公司（「本公司」，前稱合和公路基建有限 公司）於開曼群島註冊成立之有限公司，自二零零三年八月六日 起在香港聯合交易所有限公司上市，股份代號737（港幣櫃檯）及 80737（人民幣櫃檯）。本公司主要經營高速公路業務，發展策略 聚焦於粵港澳大灣區內的基礎設施建設和相關聯業務以及廣深高 速公路沿線土地開發利用。深圳高速公路集團股份有限公司（於 香港聯合交易所有限公司上市之公司（股份代號：548）及上海證 券交易所上市之公司（股份代號：600548））於二零二二年一月 十一日成為本公司的控股股東。 -- 34 財務回顧 45 其他資料 46 企業管治報告書 69 董事會報告書 89 獨立核數師報告書 94 綜合損益表 95 綜合損益及其他全面收益表 96 綜合財務狀況表 98 綜合權益變動表 100 綜合現金流量表 101 綜合財務報表附註 163 詞彙 171 公司資料 172 ...

Revenue Growth - Net toll revenue increased by 28% year-on-year to approximately RMB 2.582 billion, driven by the recovery in domestic social transportation volume and stable economic growth in cities along expressways[2]. - Profit attributable to equity shareholders rose by 89% to approximately RMB 528 million, primarily due to increased toll revenue, reversal of provisions for road resurfacing responsibilities, and performance growth from the Park City project[4]. - The net toll revenue for the year reached approximately RMB 4.825 billion, representing a year-on-year growth of 28%[13]. - The average daily toll revenue and mixed traffic volume for all expressways showed significant growth, indicating a recovery in domestic transportation demand[13]. - Total revenue for the toll highway projects reached RMB 2,951,830 thousand, with a net profit attributable to equity shareholders of RMB 528,483 thousand[84]. - The group's revenue for 2023 was RMB 944,777, up 19.6% from RMB 789,701 in 2022[86]. Project Contributions - The Park City project contributed approximately RMB 42 million in profit for the year, with the first phase of residential units delivered to buyers starting in Q3 2023[7]. - The average selling price for the Park City project was approximately RMB 23,000 per square meter, with total contract sales amounting to approximately RMB 970 million in the year[37]. - The Park City project has cumulative contract sales of approximately RMB 3.247 billion to date, with an average selling price of approximately RMB 25,000 per square meter[37]. Economic Environment - The GDP of Guangdong Province grew by 4.8% year-on-year, reaching approximately RMB 13.57 trillion, contributing to a favorable operating environment for the company[5]. - The company anticipates a positive macroeconomic environment in 2024, while remaining cautious of external challenges[8]. - The GDP growth rates for Guangzhou, Dongguan, and Shenzhen in 2023 were 4.6%, 2.6%, and 6.0% respectively, indicating stable economic growth that supports expressway operations[21]. - The domestic automobile sales in 2023 reached approximately 30.09 million units, representing a year-on-year growth of 12%, which positively impacts the toll road business[20]. Dividend Proposals - The company proposed a final dividend of RMB 0.1155 per share, with a total payout ratio of 100% of profit attributable to equity shareholders[4]. - The total regular dividend for the year is proposed at RMB 0.171 per share, a 90% increase from RMB 0.090 per share in the previous year[10]. - The group aims to maintain a regular dividend payout ratio of 100% of recurring income for the year[47]. Infrastructure Developments - The company plans to focus on the expansion of the Guangzhou-Shenzhen section of the Jinggang'ao Expressway, with significant progress made in 2023, including the approval of key construction segments[7]. - The completion of the Dongguan-Fan Expressway's third phase is expected to provide an alternative route for vehicles, potentially affecting traffic flow on the Guangzhou-Shenzhen Expressway[21]. - The Shenzhen-Zhongshan Corridor is anticipated to open in June 2024, which may also impact traffic patterns on the Guangzhou-Shenzhen Expressway[21]. - The second phase of the Yanjiang Expressway is under construction and is expected to positively impact operational performance upon completion in June 2024[31]. Financial Performance - EBITDA for the three toll road projects rose by 38% from approximately RMB 1.741 billion in 2022 to approximately RMB 2.394 billion in 2023[42]. - The group's profit attributable to equity shareholders for the year is approximately RMB 528 million, an increase of 89% compared to RMB 279 million last year[46]. - The company's total administrative expenses and depreciation increased by 28% to approximately RMB 1.032 billion in 2023[43]. - The company's interest expenses from the Guangzhou-Shenzhen joint venture rose by 74% to approximately RMB 66 million due to increased loan rates[44]. Cash and Assets - As of December 31, 2023, total assets amounted to RMB 17,036 million, a decrease from RMB 17,662 million in 2022[53]. - Total liabilities decreased to RMB 9,333 million in 2023 from RMB 10,276 million in 2022, resulting in a debt-to-asset ratio of 38% compared to 40% in the previous year[53]. - The cash and cash equivalents of the group headquarters increased to RMB 3.82 billion from RMB 3.17 billion year-on-year[49]. - The group’s net debt-to-equity ratio was 64% in 2023, a slight improvement from 66% in 2022[53]. Regulatory and Compliance - The board confirmed compliance with all corporate governance codes during the review year, emphasizing a commitment to enhancing shareholder value[69]. - The company is currently evaluating the impact of new and revised International Financial Reporting Standards that will take effect in 2024, with no significant impact expected on the consolidated financial statements[79]. Joint Ventures and Collaborations - The company is actively communicating with relevant government departments to explore land development opportunities along the Guangshen Expressway[40]. - The shareholding structure of the Xintang joint venture consists of 15% by Shenwan Infrastructure, 20% by Lilu Investment, 5% by Lixin Investment, and 60% by Shenzhen Runtou[106].

转自：大湾区之声 2019年2月18日，《粤港澳大湾区发展规划纲要》正式发布。五年来，大湾区建设稳步推进、硕果累累。 五年间，大湾区之声记者专访百余位嘉宾，从大湾区建设初期的谈机遇、谈方向，建言献策；到不断推进纵深发展过程中，具体领域的谋共识、谋合作， 共话新篇。我们见证并记录了富有活力和国际竞争力的一流湾区，一步步从蓝图走向现实。 建言大湾区 发挥各自优势 紧抓发展机遇 澳门工会联合总会会长何雪卿认为，大湾区的建设带给澳门很多机遇，要通过加强职业认证、职员培训等合作，促进澳门职工素质快速提升。 中国（深圳）综合开发研究院院长樊纲认为，结合香港的优势，前海可以在经济产业、社会民生等方面多与香港联动发展，衔接规则、对接机制，并用好 香港的专业人才、金融市场和国际市场。 合开发研究院院长 格力电器董事长兼总裁董明珠表示，大湾区的发展需要用行动一点点去堆积。大湾区建设如火如荼为"中国制造"营造了良好的环境，这种氛围的形成非常 重要。 SMC 图格力电器股份有限公司董事长兼总裁 e with the state the been and and and and and and and and and and and ...

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，概不對因本公告全部或任何部份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。 | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|------------------|--------| | | | | | | Shenzhen Investment Holdings Bay Area 深 圳 投 控 灣 區 | Development Company Limited 發 展 有 限 公 （於開曼群島註冊 ...

Toll Revenue and Traffic Volume - The net toll revenue from Guangshen Expressway, Guangzhu West Line Expressway, and Yanjiang Expressway (Shenzhen section) totaled approximately RMB 2.303 billion, representing a year-on-year growth of 26%[5]. - Average daily toll revenue and mixed vehicle traffic volume for Guangshen Expressway increased by 27% and 24% year-on-year, reaching approximately RMB 7.69 million and 627 vehicles respectively[6]. - Average daily toll revenue and mixed vehicle traffic volume for Guangzhu West Line Expressway increased by 20% and 22% year-on-year, reaching approximately RMB 3.41 million and 262 vehicles respectively[6]. - Average daily toll revenue and mixed vehicle traffic volume for Yanjiang Expressway (Shenzhen section) increased by 29% and 39% year-on-year, reaching approximately RMB 1.64 million and 182 vehicles respectively[6]. - In the first half of 2023, total toll revenue for the Guangzhou-Shenzhen Expressway was approximately RMB 1.391 billion, with daily toll revenue and mixed traffic volume increasing by 27% and 24% year-on-year, reaching about RMB 7.69 million and 627,000 vehicles respectively[11]. - The contribution of Class 1 vehicles to toll revenue and mixed traffic volume accounted for 83.4% and 92.2% of the total for the Guangzhou-Shenzhen Expressway[11]. - The average daily mixed vehicle traffic volume across all expressways showed significant recovery, indicating a positive trend in transportation demand[5]. Economic and Market Context - The GDP of Guangdong Province grew by 5.0% year-on-year, reaching approximately RMB 6.3 trillion in the first half of 2023[7]. - The total population of the Greater Bay Area exceeded 86 million, with a GDP exceeding RMB 13.0 trillion, accounting for about 11% of the national GDP[8]. - The company anticipates positive impacts on its highway business performance due to the recovery of the domestic economy and supportive government policies[7]. - In the first half of 2023, national automobile sales reached approximately 13.24 million units, reflecting a year-on-year growth of 9.8%, which is beneficial for the company's toll road business[10]. Company Performance and Financials - The total revenue for the group for the six months ended June 30, 2023, was RMB 1.26 billion, representing a year-on-year increase of 27%[30]. - The contribution from toll expressway projects amounted to RMB 1.23 billion, with a year-on-year increase of 27%[30]. - The group reported a net profit attributable to equity shareholders of RMB 172 million, reflecting a year-on-year decrease of 16%[30]. - The total comprehensive income for the period was RMB 147,245 thousand, compared to RMB 143,708 thousand in 2022, reflecting a slight increase of about 2.5%[70]. - The company reported a loss of approximately RMB 78 million, compared to a loss of RMB 10 million in the previous year[34]. - The company’s total tax expenses increased by 4% year-on-year to approximately RMB 221 million, influenced by rising toll revenues[32]. Investments and Projects - The company aims to leverage its strengths in infrastructure investment to capitalize on opportunities in highway and urban renewal projects[8]. - The expansion project of the Guangzhou-Shenzhen Expressway aims to increase its length by 118.2 kilometers, with an estimated cost exceeding RMB 40 billion[15]. - The company is actively pursuing land development opportunities along the Guangzhou-Shenzhen Expressway, with a compensation agreement for land recovery valued at approximately RMB 317 million[16]. - The feasibility study for the expansion of the Guangzhou to Dongguan section has been approved, and the project is moving forward to obtain necessary government approvals[15]. - The company is in discussions with Guangdong Highway Construction regarding the establishment of a joint venture for land development projects[16]. Cash Flow and Debt Management - As of June 30, 2023, the group's cash and cash equivalents amounted to RMB 813 million, an increase from RMB 317 million in the previous year[37]. - The group's net debt at headquarters increased to RMB 3,113 million from RMB 2,901 million in the previous year[37]. - The total maximum investment for the new joint venture is capped at RMB 6.8 billion, with respective contributions from partners based on their ownership percentages[36]. - The company’s interest expenses for the Shenzhen section decreased by 12% to approximately RMB 37 million due to successful negotiations to lower loan rates[32]. - The company reported a foreign exchange loss of approximately RMB 28 million, an improvement from a loss of RMB 42 million in the previous year[34]. Employee and Corporate Governance - The company had 64 employees as of June 30, 2023, excluding joint ventures, and offers competitive compensation and training programs[59]. - Major shareholders include Shenzhen Investment Holdings International Capital Holdings Limited, holding 2,213,449,666 shares, representing approximately 71.83% of the issued share capital[57]. - The board of directors confirmed compliance with all corporate governance codes during the review period[60]. - The company emphasizes family-friendly employment policies and invests in human resource development through training programs[59]. Future Outlook and Strategic Initiatives - The group maintains a cautious optimism for future performance, supported by stable dividends from joint ventures and positive impacts from the recovery of domestic transportation volumes[35]. - The company plans to continue focusing on market expansion and new technology development to enhance future performance[148]. - The management has indicated a cautious outlook for the remainder of 2023, with a focus on stabilizing financial performance[156]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[156].

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，概不對因本公告全部或任何部份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。 Shenzhen Investment Holdings Bay Area Development Company Limited 深 圳 投 控 灣 區 發 展 有 限 公 司 （於開曼群島註冊成立之有限公司） 股份代號：737（港幣櫃檯）及 80737（人民幣櫃檯） 截至二零二三年六月三十日止六個月之中期業績 | --- | |----------------------------------------------------------------------------------------------| | | | ◼ 路費收入淨額按年增長 26% 至 約 人民幣 12.30 億元，主要由於 (i) 國內社會交通運輸 | | 量呈現恢復性增長； (ii) 高速公路沿線城市經濟已回復平穩增長，收費公路營運表現 | | 亦與經濟表現同步增長；以及 (iii) 去年受新冠疫情的影響，路費收入基 ...

Revenue and Profitability - For the first quarter of 2023, the average daily toll revenue for the Guangzhou-Shenzhen Expressway increased by 34% to RMB 7,527,000 compared to RMB 5,636,000 in the same period of 2022[2] - The average daily toll revenue for the Guangzhou-Zhuhai West Line Expressway increased by 19% to RMB 3,374,000 from RMB 2,830,000 in the first quarter of 2022[2] - The average daily toll revenue for the Shenzhen section of the Jiangnan Expressway surged by 42% to RMB 1,545,000 from RMB 1,087,000 year-on-year[2] - Toll revenue for the three months ended March 31, 2023, was RMB 139,081,000, an increase of 42% compared to RMB 97,874,000 for the same period in 2022[15] - Total revenue for the three months ended March 31, 2023, reached RMB 234,508,000, significantly up from RMB 102,115,000 in the same period last year, marking a growth of 130%[15] - The segment performance for toll roads totaled RMB 155,913,000 for the three months ended March 31, 2023, compared to RMB 146,605,000 for the same period in 2022, reflecting a 6% increase[14] - The net profit attributable to the company's owners for the first quarter of 2023 was RMB 107,093,000, down from RMB 122,824,000 in the same period last year[5] - The net profit attributable to the owners of the company for the three months ended March 31, 2023, was RMB 107,093,000, down from RMB 122,824,000 in the same period last year, indicating a decrease of 12%[14] Cash Flow and Financial Position - The company's unaudited revenue for the first quarter of 2023 was RMB 234,508,000, a significant increase from RMB 102,115,000 in the same period of 2022[5] - Net cash from operating activities for the three months ended March 31, 2023, was RMB 194,696 thousand, a significant increase from RMB 58,696 thousand in the same period of 2022[8] - Cash generated from investment activities amounted to RMB 175,479 thousand for the three months ended March 31, 2023, compared to RMB 346,168 thousand in the same period of 2022[8] - The net cash from financing activities showed a decrease, with a net outflow of RMB 69,308 thousand for the three months ended March 31, 2023, compared to a net inflow of RMB 990 thousand in the same period of 2022[8] - The total cash and cash equivalents increased to RMB 2,265,849 thousand as of March 31, 2023, up from RMB 1,859,995 thousand at the end of the previous year[8] - The company received RMB 181,377 thousand in dividends during the three months ended March 31, 2023, indicating active investment returns[8] - The company reported an increase in restricted bank deposits, which rose by RMB 2,760 thousand during the reporting period[8] - The company's total assets as of March 31, 2023, were RMB 611,092,000, an increase from RMB 502,226,000 as of March 31, 2022[14] - Total assets as of March 31, 2023, were RMB 12,317,880,000, an increase from RMB 12,220,047,000 as of December 31, 2022[6] Operational Performance - The average daily mixed vehicle flow on the Guangzhou-Shenzhen Expressway rose by 30% to 609,000 vehicles from 468,000 vehicles year-on-year[2] - The average daily mixed vehicle flow on the Guangzhou-Zhuhai West Line Expressway grew by 18% to 256,000 vehicles compared to 217,000 vehicles in the same period last year[2] - The average daily mixed vehicle flow on the Shenzhen section of the Jiangnan Expressway increased by 56% to 175,000 vehicles from 112,000 vehicles in the first quarter of 2022[2] - The company focuses on toll highway projects and land development as its main operational segments, which are critical for resource allocation and performance evaluation[11] Financial Costs and Expenses - The company’s financial costs increased significantly to RMB 37,146,000 for the three months ended March 31, 2023, compared to RMB 6,729,000 in the same period last year[16] - The total tax expense for the group increased from RMB 19,551 thousand in 2022 to RMB 24,373 thousand in 2023, marking an increase of around 24.5%[19] - The group's deferred tax expense for corporate income tax increased from RMB 12,071 thousand in 2022 to RMB 17,058 thousand in 2023, showing a growth of approximately 41.4%[19] Investments and Acquisitions - The company has completed the acquisition of Jiangjiang Company, which is now included in the consolidated financial statements, reflecting the current group structure[10] - The company recognized construction revenue of RMB 95,427,000 for the three months ended March 31, 2023, compared to RMB 4,241,000 for the same period in 2022, representing a substantial increase[15] - The total segment revenue from land development projects was RMB 15,321,000 for the three months ended March 31, 2023, compared to RMB 5,025,000 in the same period last year[15] Shareholder Information - The basic earnings per share for the group decreased from RMB 122,824 thousand in 2022 to RMB 107,093 thousand in 2023, reflecting a decline of approximately 12.8%[20] - The number of ordinary shares used to calculate basic earnings per share remained constant at 3,081,690,283 shares for both years[20] Joint Ventures and Interest Income - The group's share of joint venture performance increased from RMB 139,703 thousand in 2022 to RMB 157,970 thousand in 2023, representing a growth of approximately 13%[18] - The estimated interest income recognized by the group from providing interest-free registered capital rose from RMB 15,271 thousand in 2022 to RMB 16,230 thousand in 2023, an increase of about 6.3%[18] - Interest income from bank deposits decreased to RMB 1,272,000 for the three months ended March 31, 2023, down from RMB 2,601,000 in the same period last year[16] - The group's estimated interest expenses related to providing interest-free registered capital increased from RMB (15,271) thousand in 2022 to RMB (16,230) thousand in 2023, reflecting a rise in financial obligations[18] Compliance and Review - The audit committee reviewed the accounting standards and practices adopted by the group for the three months ended March 31, 2023, ensuring compliance and accuracy in financial reporting[21]