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） 公告 持續關連交易： 經營權租賃協議 茲提述本公司日期為2022年4月29日的公告，內容有關本公司與驛達公司訂立舊 經營權租賃協議。 舊經營權租賃協議已於2025年4月30日屆滿。董事會欣然宣佈本公司（作為出 租人）與驛達公司（作為承租人）於2025年5月6日訂立經營權租賃協議。據此， 驛達公司同意向本公司租賃服務區以進行租賃經營項目，服務區租賃期限為自 2025年5月1日至2026年4月30日止。 安徽交控集團現持有本公司已發行股份總數的約31.63%，按照上市規則定義為 本公司的控股股東及關連人士。驛達公司為安徽交控集團之全資附屬公司，根 據上市規則第14A章，驛達公司為安徽交控集團之聯繫人，亦屬本公司之關連人 士。因此，經營權租賃協議項下 ...

Investment Rating - The industry investment rating is optimistic [1] Core Views - The report highlights a continuous recovery in domestic demand, with a focus on increased dividends [1] - The shipping sector shows strong performance in container shipping, while oil and dry bulk shipping face pressure [3][4] - The highway sector experienced a rebound in traffic in Q1 2025, while port container business remains robust [4] - The railway passenger transport is stable, but freight transport is under pressure [4] - The airline industry sees steady growth in passenger traffic, although ticket prices are under slight pressure [6] - The express delivery sector exceeded expectations in 2024, maintaining double-digit growth into Q1 2025, despite intense price competition [7] - Cross-border logistics face challenges due to coal market pressures and tariff policies affecting air freight demand [8] Summary by Sections Shipping - Container shipping shows impressive performance, with significant profit growth and stable dividends [15] - Oil shipping and dry bulk shipping face challenges, with fluctuating rates and cautious dividend policies [18][21] - The report notes a strong increase in container shipping rates due to geopolitical tensions and trade dynamics [14][15] Highways - In 2024, highway traffic saw a slight decline, but Q1 2025 traffic improved, leading to increased profits for highway companies [35][38] - The report indicates that highway companies are maintaining high dividend payouts despite previous revenue declines [41][43] Ports - Port container throughput growth outpaced other sectors, benefiting from a favorable international trade environment [44][46] - The report emphasizes the strong performance of container port companies, with significant profit increases [47][48] Railways - Railway passenger volumes remained stable, while freight volumes faced challenges, impacting overall profitability [49] Airlines - The airline sector is experiencing steady passenger growth, but ticket prices are slightly under pressure, affecting profitability [6] Express Delivery - The express delivery industry saw a significant increase in volume in 2024, continuing strong growth into Q1 2025, although competition remains fierce [7] Cross-Border Logistics - Cross-border logistics companies are facing challenges due to market pressures and tariff impacts on air freight demand [8]

Meeting Information - The second extraordinary general meeting of shareholders for 2025 will be held on May 23, 2025, at 14:30 in Hefei, Anhui Province [2][6] - The meeting will utilize the Shanghai Stock Exchange's online voting system, with voting available from 9:15 to 15:00 on the same day [3][6] Voting Procedures - Shareholders can vote through both on-site and online methods, with specific time slots designated for trading system voting [6][8] - A total of three resolutions will be presented, including special resolutions and those requiring separate counting for minority shareholders [7][8] Shareholder Participation - Only A-share shareholders registered by the close of trading on the registration date are eligible to attend the meeting [11] - Shareholders must register in advance, either in person or via written authorization, to participate in the meeting [14][15] Related Party Transactions - The company, in collaboration with Anhui Transportation Holding Group, has won a bid for the Bozhou to Dancheng Expressway project, establishing a project company with a registered capital of RMB 10 million [26][27] - The company will contribute RMB 3.5 million, representing a 35% equity stake in the project [26][28] Project Company Details - The project company is named Anhui Bo-Dan Expressway Co., Ltd., and will engage in investment, construction, and operation of the expressway [42] - The total estimated investment for the project is RMB 3.08 billion, with a capital contribution requirement of at least 20% [43] Financial Overview of Related Parties - Anhui Transportation Holding Group reported a revenue of RMB 71.68 billion and a net profit of RMB 5.82 billion for 2024 [29] - Anhui Transportation Engineering Group and Anhui Transportation Construction Group also maintain independent operations and financials [34][36]

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 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） 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13.10(B)條而作出。 茲載列安徽皖通高速公路股份有限公司（「本公司」）在中國大陸報章及上海證券交 易所網站發佈的的公告如下，僅供參閱。 (1) 關於召開2025年第二次臨時股東大會的通知 (2) 關於與關聯方共同設立項目公司的關聯交易公告 承董事會命 安徽皖通高速公路股份有限公司 公司秘書 李忠成 2025年4月30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。 | 证券代码：600012 | 证券简称：皖通高速 | | | 公告编号：临 | 2025- ...

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 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 與聯合體成立合資公司以實施有關S62亳州至鄲城高速公路 亳州段的PPP項目 茲提述本公司日期為2025年3月27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聯合體，並與交控工程、交控建工及交控信息產業共同 參與有關S62亳州至鄲城高速公路亳州段建設的PPP項目之公開招標；及(ii)聯合 體已接獲PPP項目之中標確認書，而本公司與聯合體其他成員成立合資公司以實 施PPP項目。 董事會宣佈，於2025年4月30日，本公司與聯合體其他成員訂立合資協議，並 就成立合資公司之相關安排達成一致。合資公司的註冊資本將達人民幣61,605.2 萬元，本公司將以現金出資人民幣21,561.82萬元，佔合資公司35%股權。預期 合資 ...

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通告之內容概不負責，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通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 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） 臨時股東大會通告 茲通告安徽皖通高速公路股份有限公司（「本公司」）謹訂於2025年5月23日（星期 五）下午二時三十分在中國安徽省合肥市望江西路520號本公司會議室舉行臨時股 東大會（「臨時股東大會」）。除另有指明外，本通告所用詞彙與本公司日期為2025 年4月30日的通函所界定者具有相同涵義。 本公司將舉行臨時股東大會以考慮及酌情通過以下決議案為本公司普通決議案： 普通決議案 – 1 – 1. 「動議 (a) 謹此批准、追認及確認本公司與安徽省交通控股集團（香港）有限公司 （「認購方」）訂立的日期為2025年4月11日的認購協議（「認購協議」）（其註 有A字樣的副本已提交大會並由主席簽署以資識別）及其項下擬進行之交 易；及 (b) 授權任何一 ...

（於中華人民共和國註冊成立的股份有限公司） 此乃要件 請即處理 如 閣下對本通函各方面或應採取之行動有任何疑問，應諮詢持牌證券交易商、股票經紀或其他 註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 如 閣下已售出或轉讓名下所有之本公司股份，應立即將本通函及隨附之代表委任表格送交買主 或承讓人，或經手出售或轉讓之銀行、股票經紀或其他代理人，以便轉交買主或承讓人。 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通函之內容概不負責，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通函全部或任何部分內容而產生或因依賴該等 內容而引致之任何損失承擔任何責任。本通函僅供參考，並不構成收購、購買或認購本公司證券 之邀請或要約。 安徽皖通高速公路股份有限公司 ANHUI EXPRESSWAY COMPANY LIMITED （股份編號： 995） (1) 根據一般授權發行新H股及訂立認購協議； (2) 有關建議向交控香港公司發行H股之關連交易； (3) 建議股東回報規劃（2025–2027年）；及 (4) 臨時股東大會通告 本公司之財務顧問 獨立董事委員會及獨立股東之獨立財務顧問 獨立董事委員會致 ...

環境、社會及管治報告 Environmental, Social and Governance Report 香港聯交所股份代碼 00995 目錄 | 關於本報告 | 2 | 附录一：指標索引 | 69 | | --- | --- | --- | --- | | 關於皖通高速 | 3 | 附录二：意見反馈表 | 72 | | 2024年度ESG亮點績效及榮譽獎項 | 5 | | | | 可持續發展管理 | 7 | | --- | --- | | ESG管治架構 | 9 | | 董事會聲明 | 10 | | 利益相關方溝通 | 11 | | 重要性議題 | 13 | 02 | 暢行治理之道 | 15 | | --- | --- | | 公司治理 | 17 | | 合規與風險管理 | 18 | | 反貪腐與商業道德 | 20 | | 知識產權與專利保護 | 22 | 03 | 守護生態環境 | 23 | | --- | --- | | 環境管理 | 25 | | 應對氣候變化 | 30 | | 綠色生態營運 | 32 | 04 | 共進通途致遠 | 37 | | --- | --- | | 員工僱傭 | 39 | ...

Financial Performance - The company's net profit for 2024, according to Chinese accounting standards, is RMB 153,452 million, while the profit under Hong Kong accounting standards is RMB 152,399 million[4]. - The distributable profit for shareholders for 2024 is RMB 152,399 million, based on the lower of the profits calculated under domestic and foreign accounting standards[4]. - The company's operating revenue for 2024 reached ¥7,091,832,628.35, representing a 6.94% increase compared to ¥6,631,337,271.78 in 2023[24]. - Net profit attributable to shareholders for 2024 was ¥1,668,981,126.49, a slight increase of 0.55% from ¥1,659,928,716.34 in 2023[24]. - The net cash flow from operating activities for 2024 was ¥2,628,757,994.25, showing a decrease of 0.93% from ¥2,653,472,269.21 in 2023[24]. - Total assets at the end of 2024 amounted to ¥24,414,336,538.24, a 12.31% increase from ¥21,738,743,118.83 in 2023[24]. - The company's net assets attributable to shareholders increased by 5.36% to ¥13,335,168,274.45 in 2024 from ¥12,656,911,593.98 in 2023[24]. - Basic earnings per share for 2024 were ¥1.0063, reflecting a 0.55% increase from ¥1.0008 in 2023[26]. - The weighted average return on equity for 2024 was 12.84%, down from 13.51% in 2023[26]. - The company reported a pre-tax profit of ¥2,226,777,000 for 2024, slightly down from ¥2,263,826,000 in 2023[28]. - Total liabilities increased to ¥9,563,072,000 in 2024 from ¥7,631,261,000 in 2023[30]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 6.04 per 10 shares, totaling RMB 100,180.04 million, based on a total share capital of 1,658,610,000 shares[4]. - The company has reached a cumulative legal surplus reserve that exceeds 50% of the total share capital, thus no further allocation will be made this year[4]. - The total retained earnings available for distribution to shareholders as of December 31, 2024, amounted to RMB 11,000,485 thousand, an increase from RMB 10,473,278 thousand in 2023, reflecting a growth of approximately 5%[149]. - For the current year, the company plans to distribute a cash dividend of RMB 0.604 per share, achieving a payout ratio of 60.02%[180]. Risk Management and Compliance - The report includes a detailed description of existing risk factors and future development strategies, which investors are advised to consider[5][6]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[6]. - The company is committed to risk management, conducting annual risk assessments and optimizing its risk warning indicator system to proactively address foreseeable risks[184]. - The company has complied with significant laws and regulations impacting its operations, fulfilling its social responsibilities towards shareholders, employees, consumers, and the community[185]. - The company has not engaged in any related party fund occupation during the reporting period, maintaining strict compliance with regulatory requirements[178]. Operational Efficiency and Growth Strategies - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24]. - The company aims to enhance its market presence through strategic management and operational improvements[49]. - The company is actively exploring digital transformation through the application of 5G and big data technologies[59]. - The company is focusing on technological innovation and asset optimization to strengthen its competitive advantage in the highway industry[126]. - The company plans to enhance operational efficiency by optimizing management mechanisms and promoting innovation within operational units[134]. Corporate Governance - The company has established a robust investor relations management system, actively engaging with investors through various channels to enhance transparency[179]. - The company has fully adopted the Corporate Governance Code, ensuring alignment with regulatory standards set by the China Securities Regulatory Commission[171]. - The company has conducted 7 supervisory board meetings during the reporting period, with all supervisors present, ensuring compliance with financial oversight responsibilities[173]. - The board of directors consists of 9 members, including 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors, with a strong background in finance and management[172]. Financial Instruments and Debt Management - The group secured bank loans totaling RMB 2.649 billion during the reporting period, a significant increase from RMB 480 million in 2023[150]. - As of the end of the reporting period, the outstanding bank loan balance was RMB 6.641 billion, compared to RMB 6.477 billion in 2023, indicating a slight increase of about 2.5%[150]. - The capital debt ratio as of December 31, 2024, was 29.07%, up from 28.33% in 2023, showing a trend towards increased leverage[150]. - The group maintained a fixed interest rate of 1.2% on RMB 220 million of its bank loans, while the remaining loans had floating rates ranging from 2.29% to 3.17%[150]. Market and Revenue Outlook - The company provided an optimistic outlook, projecting a revenue growth of 10% for the next quarter, aiming for $1.32 billion[199]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[200]. - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[198]. - The company aims to achieve a total toll revenue target of approximately RMB 4.603 billion (after tax) by 2025, compared to RMB 3.830 billion in 2024[133].

Summary of Wantuo Expressway Conference Call Company Overview - **Company**: Wantuo Expressway - **Industry**: Expressway and Transportation Key Financial Performance - **Q1 2025 Revenue**: 2.821 billion CNY, up 95.33% YoY [2] - **Q1 2025 Net Profit**: 551 million CNY, up 5.19% YoY [2] - **Basic Earnings Per Share**: 0.3323 CNY, up 5.19% YoY [2] - **2024 Revenue**: 7.092 billion CNY, up 6.94% YoY [3] - **2024 Net Profit**: 1.669 billion CNY, up 0.55% YoY [3] Revenue Drivers - Significant increase in toll revenue due to favorable weather during the Spring Festival and consolidation of Fuzhou and Suxu expressways [2][10] - Expected additional revenue of approximately 100 million CNY from the adjustment of ETC discount from 85% to 95% [4][11] Operational Improvements - Implementation of efficiency enhancement measures including management optimization, revenue increase, and cost reduction [5] - Issued the first high-growth industrial bond in the province, reducing annual loan interest by approximately 23 million CNY [5] - Expansion of rental income from Silicon Valley Internet Communication Industrial Park, which grew by 30% [2][5] Strategic Acquisitions and Projects - Completed acquisition of 100% equity in Fuzhou and Suxu expressways, enhancing network layout and profitability [2][6] - Completion of the Xuan-Guan expressway expansion project, which is expected to significantly increase traffic volume in the future [2][6][7] - High-Jie expressway expansion project design approved, with construction expected to start by the end of April 2025 [4][13] Financial Management - Financial expenses are expected to rise post-expansion project completion, but Q1 2025 expenses did not show significant increases due to some loan funds not being fully utilized [8] - Current loan interest rates range from 2% to 3%, with potential for further reduction depending on LPR trends [8] Market and Policy Impact - The adjustment of the ETC discount policy is anticipated to positively impact toll revenue, although vehicle flow needs to be monitored [11] - The company is actively pursuing new investment opportunities in expressway projects to optimize asset structure and enhance fundamentals [18] Future Outlook - The company aims to balance investment returns and growth in the final year of the 14th Five-Year Plan, with a focus on highway construction and asset investment [22] - Initiatives for the 15th Five-Year Plan are underway, with a commitment to high-quality development and strategic investments in emerging industries [23] Additional Insights - The company’s performance metrics, including stock price ranking and return on equity, indicate strong market recognition [22] - The impact of regional economic changes and traffic flow adjustments on toll revenue is being closely monitored [19][20] This summary encapsulates the key points from the Wantuo Expressway conference call, highlighting financial performance, operational strategies, and future plans within the expressway industry.