诚如本公司日期为2025年7月22日的公告所述，S98全椒至禄口高速公路安徽段是连接皖苏两省的重要 通道。与S98联合体其他成员成立S98合资公司将使本公司能够参与项目。通过参与项目，本公司将进 一步拓展及提升高速公路业务布局，提升区域交通运输能力，增强本公司整体盈利水平。 分时图公路 日K线 周K线 月K线 12.14 -0.05 -0.41% 2.05% 1.39% 0.66% 0.00% 0.66% 1.39% 2.05% 11.94 12.02 12.11 12.19 12.27 12.36 12.44 09:30 10:30 12:00/13:00 14:00 16:10 0 6万 12万 19万 安徽皖通高速（600012）公路(00995)发布公告，于2025年8月20日，本公司与S98联合体其他成员订立 S98合资协议，并就成立S98合资公司的相关安排达成一致。联合体向S98合资公司出资总额将达人民币 10.1亿元，其中安徽交控集团、本公司、水安建设公司、开源路桥公司、交控工程、交控建工及迅捷物 流将分别出资人民币4.8484亿元、人民币2.0202亿元、人民币1.5151亿元、人民币1.51 ...

Core Viewpoint - Anhui Wantong Expressway (00995) has entered into a joint venture agreement for the establishment of the S98 joint venture company, which will enhance its highway business and regional transportation capacity [1] Group 1: Joint Venture Agreement - The company, along with other members of the S98 consortium, has signed a joint venture agreement on August 20, 2025 [1] - The total investment in the S98 joint venture company amounts to RMB 1.01 billion [1] - The initial registered capital of the joint venture company is expected to be RMB 100 million [1] Group 2: Investment Contributions - The investment contributions from various members are as follows: Anhui Jiaokong Group will contribute RMB 484.84 million, the company will contribute RMB 202.02 million, and other members will contribute varying amounts totaling RMB 1.01 billion [1] - Specific contributions include RMB 151.51 million from Water Safety Construction Company, RMB 151.51 million from Kaiyuan Road and Bridge Company, RMB 10.1 million from Jiaokong Engineering, RMB 5.05 million from Jiaokong Construction, and RMB 5.05 million from Jinxin Logistics [1] Group 3: Strategic Importance - The S98 highway segment from Qianqiao to Lukou is a crucial link between Anhui and Jiangsu provinces [1] - Participation in this project will allow the company to expand and enhance its highway business layout, thereby improving overall profitability [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，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等 內容而引致的任何損失承擔任何責任。 安徽皖通高速公路股份有限公司 ANHUI EXPRESSWAY COMPANY LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份編號： 995） 關連交易 與S98聯合體其他成員成立合資公司以實施有關S98全椒至 祿口高速公路安徽段的項目 茲提述本公司日期為2025年7月22日之公告，據此，本公司宣佈：(i)本公司已加 入由安徽交控集團牽頭之S98聯合體，並與水安建設公司、開源路橋公司、交控 工程、交控建工及迅捷物流共同參與S98全椒至祿口高速公路安徽段建設項目之 公開招投標；及(ii) S98聯合體已接獲項目之中標確認書。誠如7月22日之公告所 披露，本公司擬與S98聯合體其他成員共同出資成立S98合資公司，以實施項目。 董事會宣佈，於2025年8月20日，本公司與S98聯合體其他成員訂立S98合資協 議，並就成立S98合資公司之相關安排達成一致。聯合體向S98合資公司出資總 額將達人 ...

Summary of Conference Call Records Industry Overview - **Industry Focus**: The conference call primarily discusses the highway, port, and power industries, emphasizing their investment frameworks and dividend asset characteristics [1][20]. Key Points and Arguments Highway Industry - **Business Model**: The highway business model is robust, driven by passenger and freight traffic. Passenger traffic benefits from the increase in car ownership and self-driving tourism, while freight traffic remains dominant despite a slight decline due to the "road-to-rail" policy [1][4]. - **Revenue Growth**: From 2011 to 2019, the average revenue growth rate for the highway industry was 8.5%, outpacing the GDP growth rate of 7.4% during the same period, indicating strong resilience [5]. - **Investment Strategy**: High dividend strategies are favored in weak markets, highlighting the defensive nature of highway assets. Prioritizing high-dividend, high-yield highway assets is a crucial investment strategy [1][7][9]. - **Regulatory Environment**: The optimization of toll road policies at the national level presents systemic opportunities for valuation improvement in the highway sector [2]. Port Industry - **Cargo Throughput Growth**: The port industry has seen steady growth in cargo throughput, benefiting from supply-side integration and rational production management. The average growth rate of cargo throughput over the past decade is between 3% and 4% [12]. - **Pricing Flexibility**: Port charges are flexible and can be adjusted based on market demand, unlike highway tolls, which are more rigid [14]. - **Investment Characteristics**: Ports are characterized by perpetual operation and dynamic pricing capabilities, making them attractive stable growth assets [15]. Power Industry - **Profitability Framework**: The hydroelectric power industry has a stable profitability framework with a clear cost structure, ensuring steady net profit generation. Companies like Yangtze Power commit to maintaining high dividend rates [21]. - **Nuclear Power Growth**: The nuclear power sector is in a clear growth cycle, with plans for significant new installations, supporting long-term profitability and dividend potential [24][25]. - **Gas Industry Dynamics**: The gas industry is transitioning towards maturity, with decreasing capital expenditures expected to enhance dividend levels as projects mature [29][31]. Additional Important Insights - **Investment Recommendations**: Recommended investment targets include high-dividend companies such as China Merchants Highway, Shandong Highway, and Ninghu Highway, which have shown strong performance in shareholder returns [9][11]. - **Future Potential**: Potential investment opportunities in the highway sector include Sichuan Chengyu and Ganyue Highway, which are expected to replicate successful growth patterns seen in other companies [11]. - **Governance and Stability**: The water and nuclear power sectors exhibit strong governance and stable dividend levels, making them attractive for long-term investment [20][21]. Conclusion The conference call highlights the resilience and growth potential of the highway, port, and power industries, emphasizing the importance of dividend strategies and regulatory environments in shaping investment opportunities. The focus on high-dividend assets reflects a broader trend towards stable, income-generating investments in the current market landscape.

证券之星消息，8月15日铁路公路板块较上一交易日下跌0.35%，皖通高速领跌。当日上证指数报收于 3696.77，上涨0.83%。深证成指报收于11634.67，上涨1.6%。铁路公路板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600106 | 重庆路桥 | 7.81 | 5.26% | 82.62万 | | 6.33亿 | | 002357 | 富临运业 | 10.63 | 3.00% | 14.18万 | | + 1.49亿 | | 000557 | 西部创业 | 5.66 | 1.98% | 16.12万 | | 9021.87万 | | 000828 | 东莞控股 | 11.28 | 1.71% | 11.76万 | | 1.32亿 | | 600125 | 铁龙物流 | 5.86 | 1.38% | 21.64万 | | 1.26亿 | | 600611 | 大众交通 | 6.31 | 0.96% | 42.03万 | | 2.65亿 | | ...

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 之 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 就 因 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 之 任 何 損 失 承 擔 任 何 責 任。 安徽皖通高速公路股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈， 定 於2025年8月28日（星 期 四）舉 行 董 事 會 會 議，以 審 議 及 批 准 本 公 司 及 其 附屬公司截至2025年6月30日 止6個月未經審計的中期業績及其他相關 事 項（如 有）。 承董事會命 安徽皖通高速公路股份有限公司 公司秘書 簡雪艮 2025年8月14日 中國安徽省合肥市 截 止 本 公 告 日，本 公 司 董 事 會 成 員 包 括 執 行 董 事 汪 小 文（主 席）、余 泳、陳 季 平 及 吳 長 明； 非 執 行 董 事 楊 旭 東 及 杜 漸；以 及 獨 立 非 執 行 董 事 章 劍 平、盧 太 平 及 ...

格隆汇8月14日丨安徽皖通高速公路(00995.HK)宣布，定于2025年8月28日(星期四)举行董事会会议，以 审议及批准公司及其附属公司截至2025年6月30日止6个月未经审计的中期业绩及其他相关事项(如有)。 ...

安徽皖通高速公路(00995.HK)8月28日举行董事会会议审议及批准中期业绩 安徽皖通高速公路 (00995.HK)拟与S98联合体成立S98合资公司以实施有关S98全椒至禄口高速公路安徽段的项目 格隆汇8月14日丨安徽皖通高速公路(00995.HK)宣布，定于2025年8月28日(星期四)举行董事会会议，以 审议及批准公司及其附属公司截至2025年6月30日止6个月未经审计的中期业绩及其他相关事项(如有)。 相关事件 ...

安徽皖通高速公路股份有限公司 ANHUI EXPRESSWAY COMPANY LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份編號： 995） 簡雪艮 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 之 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 就 因 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 之 任 何 損 失 承 擔 任 何 責 任。 2025年8月14日 中國安徽省合肥市 截 止 本 公 告 日，本 公 司 董 事 會 成 員 包 括 執 行 董 事 汪 小 文（主 席）、余 泳、陳 季 平 及 吳 長 明； 非 執 行 董 事 楊 旭 東 及 杜 漸；以 及 獨 立 非 執 行 董 事 章 劍 平、盧 太 平 及 趙 建 莉。 董事會召開日期 安徽皖通高速公路股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈， 定 於2025年8月28日（星 期 四）舉 行 董 事 會 會 ...

Key Points - The top three stocks with net inflows from southbound funds are Yingfu Fund (02800) with 1.184 billion, Alibaba-W (09988) with 730 million, and Hang Seng China Enterprises (02828) with 556 million [1] - The top three stocks with net outflows are WuXi Biologics (02269) with -539 million, Hua Hong Semiconductor (01347) with -509 million, and SMIC (00981) with -432 million [1] - In terms of net inflow ratio, Shanghai Industrial Holdings (00363) leads with 63.56%, followed by Bank of China Aviation Leasing (02588) with 60.26%, and Sunshine Insurance (06963) with 55.37% [1] - The top three stocks with the highest net outflow ratios are GX China (03040) at -100.00%, Southern Hang Seng Index ETF (03037) at -65.52%, and Sichuan Chengyu Expressway (00107) at -49.23% [1] Top 10 Net Inflows - Yingfu Fund (02800) had a net inflow of 1.184 billion, representing a 16.79% increase, closing at 25.380 [2] - Alibaba-W (09988) saw a net inflow of 730 million, with a 10.34% increase, closing at 116.300 [2] - Hang Seng China Enterprises (02828) had a net inflow of 556 million, with an 8.70% increase, closing at 91.160 [2] - Xiaomi Group-W (01810) had a net inflow of 473 million, with a 6.69% increase, closing at 51.250 [2] - Zai Ding Pharmaceutical (09688) had a net inflow of 429 million, with a 26.73% increase, closing at 27.200 [2] Top 10 Net Outflows - WuXi Biologics (02269) experienced a net outflow of -539 million, with a -33.02% decrease, closing at 29.360 [2] - Hua Hong Semiconductor (01347) had a net outflow of -509 million, with a -21.78% decrease, closing at 44.000 [2] - SMIC (00981) saw a net outflow of -432 million, with a -3.98% decrease, closing at 48.660 [2] - Kuaishou-W (01024) had a net outflow of -292 million, with a -14.76% decrease, closing at 79.150 [2] - Juzi Biotechnology (02367) experienced a net outflow of -220 million, with a -24.75% decrease, closing at 59.000 [2] Net Inflow Ratios - Shanghai Industrial Holdings (00363) had a net inflow ratio of 63.56%, with a net inflow of 11.36 million, closing at 14.870 [3] - Bank of China Aviation Leasing (02588) had a net inflow ratio of 60.26%, with a net inflow of 3.56 million, closing at 73.500 [3] - Sunshine Insurance (06963) had a net inflow ratio of 55.37%, with a net inflow of 2.48 million, closing at 3.790 [3] - Poly Property (06049) had a net inflow ratio of 52.60%, with a net inflow of 1.14 million, closing at 34.880 [3] Net Outflow Ratios - GX China (03040) had a net outflow ratio of -100.00%, with a net outflow of -7100.00, closing at 35.460 [3] - Southern Hang Seng Index ETF (03037) had a net outflow ratio of -65.52%, with a net outflow of -724,900, closing at 25.400 [3] - Sichuan Chengyu Expressway (00107) had a net outflow ratio of -49.23%, with a net outflow of -380,740, closing at 4.920 [3]