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。 （於中華人民共和國註冊成立的股份有限公司） （股份編號： 995） 持 續 關 連 交 易： 安徽省高速公路聯網收費管理平台 異地雙系統災備中心建設等項目 費用分 攤 協 議 董事會宣佈，於2025年11月4日，本公司、宣廣公司、廣祠公司、寧宣杭公司、 安 慶 大 橋 公 司、阜 周 公 司 及 泗 許 公 司 分 別 與 交 通 數 科 及 安 徽 高 速 聯 網 運營簽訂2025年 災備中心建設等項目費用 分 攤 協 議 一 及2025年災備中 心建設等項目費用分攤協議二，據 此，本 公 司、宣 廣 公 司、廣 祠 公 司、寧 宣 杭 公 司、安 慶 大 橋 公 司、阜 周 公 司 及 泗 許 公 司 將 按 照 各 ...

Core Viewpoint - Anhui Wantong Expressway (600012) and several affiliated companies have signed cost-sharing agreements for the construction of disaster recovery centers and related projects, which will enhance infrastructure and service quality for highway users [1][2] Group 1: Cost-Sharing Agreements - The company and its affiliates will share costs for two agreements related to the 2025 disaster recovery center construction [1] - The cost-sharing will be based on the proportion of average monthly toll revenue from the previous year [1][2] Group 2: Project Details - The projects include the construction of a remote dual-system disaster recovery center, toll system optimization, national encryption upgrades, lane software upgrades, video cloud platform enhancements, and the Sunshine Rescue Platform [1][2] - These projects are deemed necessary for maintaining normal highway operations and improving infrastructure [2]

Group 1 - The company Anhui Wantong Expressway (00995) has signed two cost-sharing agreements related to the construction of a disaster recovery center and other projects with several subsidiaries and partners, effective November 4, 2025 [1] - The cost-sharing for the disaster recovery center and other projects will be based on the proportion of the average monthly toll revenue from the previous year for each participating company [1][2] - The projects included in the agreements are essential for maintaining normal highway operations and will enhance the infrastructure level of the highways operated by the group, ultimately benefiting highway users [2] Group 2 - The projects covered by the agreements include the construction of a remote dual-system disaster recovery center, toll system optimization and upgrade, national encryption modification and lane software upgrade, and video cloud platform optimization and sunshine rescue platform construction [1][2] - The agreements align with the requirements set forth by the provincial highway toll collection management committee, ensuring that the costs are shared fairly among the highway operating units [2]

安徽皖通高速公路股份有限公司 ANHUI EXPRESSWAY COMPANY LIMITED 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。 （於中華人民共和國註冊成立的股份有限公司） （股份編號： 995） 持 續 關 連 交 易： 安徽省高速公路聯網收費管理平台 異地雙系統災備中心建設等項目 費用分 攤 協 議 董事會宣佈，於2025年11月4日，本公司、宣廣公司、廣祠公司、寧宣杭公司、 安 慶 大 橋 公 司、阜 周 公 司 及 泗 許 公 司 分 別 與 交 通 數 科 及 安 徽 高 速 聯 網 運營簽訂2025年 災備中心建設等項目費用 分 攤 協 議 一 及2025年災備中 心建設等項目費用分攤協議二，據 此，本 公 司、宣 廣 公 司、廣 祠 公 司 ...

FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 公司名稱: 安徽皖通高速公路股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00995 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 542,991,889 | RMB | | 1 RMB | | 542,991,889 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 542,991,889 | RMB | | 1 RMB | | 542,991,889 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company [4] Core Views - The company achieved a toll revenue of 3.915 billion yuan in the first three quarters, representing a year-on-year increase of 13.83%. In Q3 alone, toll revenue reached 1.389 billion yuan, up 16.24% year-on-year, slightly exceeding expectations [1] - The full opening of the Xuanguang Expressway has significantly boosted revenue, with Q3 toll income from the entire Xuanguang section reaching 189 million yuan, a substantial increase from 40 million yuan in the same period last year [1] - The acquisition of a 7% stake in Shandong Expressway is expected to enhance investment returns, with the transaction amounting to 3.019 billion yuan at a price of 8.92 yuan per share [2] Summary by Sections Financial Performance - The company reported a net profit attributable to shareholders of 1.477 billion yuan for the first three quarters, a year-on-year increase of 5.43%, with Q3 net profit at 517 million yuan, up 8.19% year-on-year. The non-recurring net profit for Q3 was 533 million yuan, reflecting a growth of 29.19% [1] - The company slightly adjusted its profit forecasts for 2025-2027 to 1.97 billion, 2.05 billion, and 1.91 billion yuan, respectively, with corresponding EPS of 1.19, 1.23, and 1.15 yuan [3] Revenue Growth - Excluding the impact of Xuanguang Expressway, other road assets generated toll revenue of 1.2 billion yuan in Q3, marking a year-on-year increase of 3.9%. Most road assets showed positive growth, except for a 16.9% decline in revenue from Ningxuanhang Expressway [2] Strategic Acquisitions - The acquisition of Shandong Expressway shares is anticipated to bolster investment income, with the company set to gain a board seat and account for the investment using the equity method [2] Dividend Policy - The company has demonstrated a strong willingness to distribute dividends, with continuous increases in dividend payouts since 2019 [3]

Core Viewpoint - Anhui Wantuo Expressway (00995.HK) has seen a stock price increase of over 4%, currently trading at 12.85 HKD with a transaction volume of 25.478 million HKD [2] Group 1 - The stock price of Anhui Wantuo Expressway has risen by 4.3% [2] - The current trading price is reported at 12.85 HKD [2] - The total transaction volume reached 25.478 million HKD [2]

Core Viewpoint - Anhui Wantuo Expressway reported a mixed financial performance with a slight decline in revenue but an increase in net profit, indicating resilience in its core operations despite challenges in the broader market [1] Financial Performance - For the first three quarters of 2025, the company recorded an operating income of 5.3855 billion yuan, a year-on-year decrease of 2.07% [1] - The net profit for the same period was 1.477 billion yuan, reflecting a year-on-year increase of 5.43% [1] - In the third quarter alone, the company achieved a net profit attributable to shareholders of 517 million yuan, marking an 8.19% year-on-year growth [1] Traffic and Revenue Growth - The core traffic volume for the company’s main routes showed significant growth, with the Xuan-Guang Expressway expansion leading to a 321.35% year-on-year increase in traffic volume [1] - Toll revenue for the third quarter surged by 381.22% year-on-year, driven by the increased traffic [1] Strategic Investments - Following the acquisition of Fuzhou-Zhou and Si-Xu Expressways in the first half of the year, the company announced a major investment in October, planning to acquire a 7% stake in Shandong Expressway Group for 3.019 billion yuan through a private agreement [1] - This acquisition is expected to enhance the company's effective investments and strengthen its core business operations [1] - Post-transaction, the company will gain a board seat at Shandong Expressway, allowing for improved operational performance and collaboration in information sharing and business synergy [1]

Core Viewpoint - Anhui Wantuo Expressway (00995) has seen a stock price increase of over 4%, currently at HKD 12.85, with a trading volume of HKD 25.478 million, following the announcement of its financial results for the first three quarters of 2025 [1] Financial Performance - For the first three quarters of 2025, the company reported operating revenue of CNY 5.3855 billion, a year-on-year decrease of 2.07% [1] - The net profit for the same period was CNY 1.477 billion, reflecting a year-on-year increase of 5.43% [1] - In the third quarter alone, the company achieved a net profit attributable to shareholders of CNY 517 million, marking an 8.19% year-on-year growth [1] Traffic and Revenue Growth - The core segments of the company experienced significant traffic growth, particularly following the completion of the Xuan-Guang Expressway expansion, which saw a year-on-year traffic increase of 321.35% in the third quarter [1] - Toll revenue for the same period surged by 381.22% year-on-year [1] Strategic Investments - After completing the acquisitions of Fuzhou-Zhou and Si-Xu Expressways in the first half of the year, the company announced a major investment in October, planning to acquire a 7% stake in Shandong Highway Group for CNY 3.019 billion through a private agreement [1] - This acquisition is expected to enhance the company's effective investments and strengthen its core business [1] - Following the transaction, the company will gain a board seat at Shandong Highway, allowing for equity method accounting, which is anticipated to positively impact the company's operating performance and facilitate collaboration in information sharing and business synergy [1]

Core Insights - The article highlights the net inflow and outflow of funds for various companies in the Hong Kong stock market, indicating significant movements in investor sentiment and market dynamics [1][2][3] Net Inflow Summary - The top three companies with the highest net inflow of funds are Huahong Semiconductor (华虹半导体) with 388 million, Pop Mart (泡泡玛特) with 320 million, and Qingdao Beer (青岛啤酒股份) with 305 million [1][2] - The net inflow percentages for these companies are 8.15%, 7.92%, and 58.54% respectively, indicating strong investor interest, particularly in Qingdao Beer [2][3] Net Outflow Summary - The companies with the highest net outflow of funds include Alibaba-W (阿里巴巴-W) with -523 million, Southern Hang Seng Technology (南方恒生科技) with -429 million, and Tencent Holdings (腾讯控股) with -355 million [1][2] - The net outflow percentages for these companies are -3.89%, -4.86%, and -3.36% respectively, reflecting a negative sentiment among investors towards these stocks [2][3] Net Inflow Ratio Summary - The companies with the highest net inflow ratios are Shenzhen Expressway (深圳高速公路股份) at 68.48%, Anhui Wanshan Expressway (安徽皖通高速公路) at 64.22%, and Legend Holdings (联想控股) at 59.98% [1][3] - These ratios suggest a strong demand for shares in these companies relative to their trading volume [3] Net Outflow Ratio Summary - The companies with the highest net outflow ratios are Huadian International Power (华电国际电力股份) at -62.31%, CIMC Enric (中集安瑞科) at -54.98%, and Connoisseur-B (康诺亚-B) at -52.78% [1][3] - These figures indicate significant selling pressure and a lack of confidence among investors in these stocks [3]