Financial Performance - Operating revenue for the three months ended March 31, 2025, was RMB 668,503,082, a decrease of 2.6% compared to RMB 684,684,715 for the same period in 2024[9] - Net profit for the three months ended March 31, 2025, reached RMB 166,786,787, an increase of 9.3% from RMB 152,623,636 in the prior year[9] - The group's operating profit for the three months ended March 31, 2025, was RMB 180,760,691, slightly up from RMB 178,663,172 in the same period of 2024[9] - Revenue for the three months ended March 31, 2025, was RMB 111,553,722, a slight increase of 1.0% compared to RMB 110,442,322 in 2024[19] - Net profit for the same period was RMB 54,331,323, a decrease of 0.9% from RMB 54,803,829 in the previous year[19] Assets and Liabilities - The group's total assets as of March 31, 2025, amounted to RMB 9,314,226,198, an increase from RMB 9,041,947,811 as of December 31, 2024, representing a growth of approximately 3.0%[5] - The group's total liabilities as of March 31, 2025, were RMB 3,553,642,904, compared to RMB 3,450,010,327 as of December 31, 2024, reflecting an increase of approximately 3.0%[7] - The total equity attributable to shareholders of the parent company increased to RMB 4,742,779,278 as of March 31, 2025, from RMB 4,589,711,647 as of December 31, 2024, indicating a growth of about 3.3%[7] - The group's total current assets as of March 31, 2025, were RMB 2,649,469,421, an increase from RMB 2,404,932,953 as of December 31, 2024, representing a growth of approximately 10.2%[5] - Total assets as of March 31, 2025, amounted to RMB 5,449,910,760, an increase from RMB 5,367,242,048 at the end of 2024[15] - Total liabilities increased to RMB 1,346,630,827 from RMB 1,318,293,439, indicating a rise in financial obligations[17] Cash Flow - Operating cash flow for the three months ended March 31, 2025, was RMB 74,837,599, a decrease of 57.3% from RMB 175,041,487 in the same period of 2024[11] - Total cash inflow from operating activities was RMB 614,046,239, down 13.9% from RMB 713,680,821 year-over-year[11] - For the three months ended March 31, 2025, the net cash flow from operating activities was RMB 123,004,826, an increase of 61.6% compared to RMB 76,074,301 for the same period in 2024[21] - Cash inflow from operating activities totaled RMB 301,140,688, while cash outflow was RMB 178,135,862, resulting in a net cash inflow of RMB 123,004,826[21] - The net increase in cash and cash equivalents for the period was RMB 79,632,419, contrasting with a decrease of RMB -501,597,424 in the same period of 2024[23] Investment Income - The group reported an increase in investment income to RMB 6,053,550 for the three months ended March 31, 2025, compared to RMB 7,960,375 in the same period of 2024[9] - Investment income for the three months was RMB 4,080,000, down from RMB 5,621,013 in the same period last year, primarily due to lower returns from joint ventures[19] - The company reported cash inflow from investment activities of RMB 47,179,600, compared to RMB 12,801,300 in the previous year, indicating a significant increase[23] - The net cash flow from investment activities was negative at RMB -6,969,499, an improvement from RMB -539,832,403 in the same period last year[23] Financial Expenses - The financial expenses decreased to RMB 16,121,567 for the three months ended March 31, 2025, from RMB 22,110,236 in the previous year, showing a reduction of approximately 27.0%[9] - The company reported a decrease in operating costs to RMB 43,760,290 from RMB 45,807,117, reflecting a cost reduction strategy[19] Cash and Cash Equivalents - The group's cash and cash equivalents stood at RMB 1,972,556,030 as of March 31, 2025, up from RMB 1,909,458,289 as of December 31, 2024, marking an increase of approximately 3.3%[5] - Cash and cash equivalents at the end of the period increased to RMB 1,966,751,051 from RMB 1,750,667,626, reflecting a net increase of RMB 63,097,741[13] - The ending balance of cash and cash equivalents was RMB 983,585,290, compared to RMB 1,246,253,974 at the end of the same period last year[23] Other Financial Information - The company did not report any cash inflow from financing activities during this quarter[23] - The company emphasized that the financial data presented has not been reviewed or audited by its auditors, and adjustments may occur upon review[23]

Financial Performance - Chengdu Expressway Co., Ltd. reported a revenue increase of 15% year-over-year, reaching RMB 2.5 billion for the fiscal year 2024[4]. - The company achieved a net profit of RMB 800 million, representing a growth of 12% compared to the previous year[4]. - The company expects a revenue guidance of RMB 2.8 billion for the next fiscal year, reflecting a projected growth of 12%[4]. - Total revenue for 2024 reached RMB 2,915,386,143, a slight increase from RMB 2,894,040,981 in 2023[44]. - Highway business revenue for 2024 was RMB 1,612,188,802, compared to RMB 1,593,531,284 in 2023, reflecting a growth of approximately 1.5%[44]. - Total net profit for 2024 was RMB 569,654,395, down from RMB 662,176,389 in 2023, indicating a decrease of about 14%[44]. - The company’s gross profit for 2024 was RMB 1,080,645,031, an increase from RMB 1,042,050,401 in 2023[44]. - The net profit attributable to shareholders was RMB 519,517,638, a decrease from RMB 618,766,312 in the previous year[59]. - Basic earnings per share for 2024 are projected at RMB 0.31, a slight decrease of 16.2% from RMB 0.37 in 2023[46]. Traffic and User Engagement - User traffic on the expressways increased by 20%, with an average daily vehicle count of 150,000[4]. - The average daily traffic flow on the highways is a key performance indicator, reflecting the operational efficiency and revenue potential of the highway segment[14]. - The total traffic volume across all highways decreased by 1.5% to 217,159 vehicles compared to 220,496 vehicles in 2023[67]. Strategic Initiatives - The company plans to expand its service areas by 10% in the next fiscal year, focusing on enhancing customer experience[4]. - Chengdu Expressway is investing RMB 300 million in new technology for electric vehicle charging stations, aiming to install 500 new charging points by the end of 2025[4]. - The company has outlined a strategic goal to increase its market share in the expressway sector by 5% over the next three years[4]. - The company is exploring potential mergers and acquisitions to enhance its operational capabilities and expand its geographic footprint[4]. - New product offerings, including enhanced toll collection systems, are expected to contribute an additional RMB 100 million in revenue[4]. - The company is focusing on expanding its new energy business, particularly in the construction of charging stations and energy storage facilities[50]. Energy Sector Developments - The energy segment includes retail of refined oil products and the expansion into natural gas operations, with a focus on increasing market share in these sectors[15]. - The company holds a 51% stake in Chengdu Jiao Investment New Energy Development Co., which is a subsidiary focused on energy development[12]. - The company has established joint ventures, such as with Sinopec Chengdu Energy, holding a 50% stake, to strengthen its position in the energy market[11]. - The company is actively pursuing new strategies for market expansion, particularly in the natural gas sector, to capitalize on growing demand[15]. - Revenue from the energy segment was RMB 1,303,197,341, a slight increase of 0.2% year-on-year, representing 44.7% of total revenue in 2024[62]. Financial Management and Governance - The company has appointed Mr. Yang Tan as Chairman and Executive Director since June 2023, and he will continue as General Manager until January 2025[107]. - The board of directors' term has been extended to ensure continuity, with no impact on the company's normal operations[107]. - The company has a strong focus on maintaining high standards in financial management, as evidenced by the qualifications of its directors, including CPA and ACCA certifications[121]. - The company has established a comprehensive internal governance structure consisting of the shareholders' meeting, board of directors, various specialized committees, supervisory board, and senior management[155]. - The company has implemented mechanisms to ensure the board receives independent opinions to enhance decision-making objectivity and effectiveness[176]. Legal and Compliance Issues - The company is currently involved in legal disputes that may impact its financial position, with claims totaling RMB 28,059,936 and RMB 36,876,367 from different parties[95][97]. - Chengdu Huaguan Industrial Co., Ltd. requested compensation of RMB 65,039,200 from Chengdu Energy Development Co., Ltd. for economic losses[100]. - The Sichuan High People's Court ordered Chengdu Energy Development Co., Ltd. to compensate Chengdu Huaguan Industrial Co., Ltd. RMB 8,000,000 within 15 days of the ruling[100]. Future Outlook - The company plans to issue corporate bonds totaling up to RMB 2 billion to meet financing needs and expand funding channels[37]. - The company is focused on enhancing its core competitiveness and developing new growth drivers through diversified business operations and smart applications[53]. - The company aims to expand its market presence by leveraging national strategies such as the Chengdu-Chongqing Economic Circle[163].

成都高速(01785)发布2024年年度业绩，该集期内取得收入29.15亿元(人民币，下同)，同比增加 0.74%;归属于母公司股东的净利润5.2亿元，同比减少16.04%;基本每股收益0.31元;拟派发末期现金股息 每股0.101元。 报告期内，高速公路业务主要收入为通行费收入，占高速公路业务收入比88.9%。报告期内，高速 公路业务实现通行费收入为14.33亿元，比2023年减少3768.36万元，同比下降2.6%。报告期内，除成灌 高速公路的车流量和通行费收入有一定程度的增长，其余路段的车流量和通行费收入同比下降，主要影 响因素：(i)受国内经济有效需求不足以及极端天气短期多发等因素影响，车流量和通行费收入同比下 降;(ii)今年春节、清明假期免费通行时间较去年共增加4天，带来通行费收入减少;(iii)2023年G5京昆(成 绵段)主线全封闭施工期间，相关车流部分分流至成彭高速公路，增加了该高速的通行费收入，2024年 未受此利;(iv)按照四川省人民政府办公厅《关于持续巩固和增强经济回升向好态势若干政策措施的通 知》(川办规[2024]2号)，四川省内于2024年4月1日至2024年12月31日期间实 ...

Financial Performance - Chengdu Expressway Co., Ltd. reported its annual performance for the year ending December 31, 2024, with a comprehensive financial report to be published by April 30, 2025[3]. - The company reported a revenue of RMB 1.5 billion for the fiscal year ending December 31, 2024, representing a year-over-year increase of 15%[13]. - Total revenue for 2023 reached RMB 2,894,040,981, representing a 11.5% increase from 2022[47]. - The total profit for the year was RMB 785,981,781, down from RMB 806,866,677 in 2023[62]. - The company's total revenue for the year ended December 31, 2024, was RMB 2,915,386,143, an increase of RMB 21,345,162 or 0.7% compared to RMB 2,894,040,981 in 2023[65]. - The energy sector's revenue for 2023 was RMB 1,300,509,697, slightly down from RMB 1,292,027,478 in 2022, showing a marginal decline[47]. - The energy industry business revenue was RMB 1,303,197,341, an increase of RMB 2,687,644 or 0.2% compared to 2023[72]. Strategic Initiatives - The company is focused on enhancing its service areas, including the Ande North and South service areas along the Chengguan Expressway[8]. - The company is expanding its market presence in southwestern China, targeting a 25% increase in market share by 2025[13]. - The company is committed to environmental, social, and governance (ESG) practices, as indicated in its reports[5]. - The company plans to enhance its operational efficiency through the establishment of a specialized team for market-oriented projects, achieving profitability in its first year[54]. - The company aims to optimize its energy sector by developing charging infrastructure and exploring clean energy applications such as hydrogen and photovoltaics[58]. - The company is focused on expanding its energy business, including refined oil, natural gas, and new energy operations[25]. Governance and Management - The company’s board of directors includes a mix of executive and independent non-executive directors, ensuring diverse governance[3]. - The board of directors consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[170]. - The company is committed to maintaining high standards of corporate governance and transparency in its operations[157]. - The chairman and CEO roles are now separated, with Mr. Yang Tan appointed as chairman on June 7, 2023, and Mr. Ding Dapan appointed as CEO effective January 23, 2025[159]. - The board has established mechanisms to ensure independent opinions are obtained to enhance decision-making effectiveness[179]. - The company has established a comprehensive internal governance structure consisting of the shareholders' meeting, board of directors, various specialized committees, supervisory board, and senior management[158]. Operational Developments - The company has been involved in the expansion of the Chengwenqiong Expressway project, aimed at improving transportation infrastructure[10]. - The company has signed land acquisition agreements for the Chengwenqiong Expressway expansion project in Dayi County and Wenjiang District[41][42]. - The group operates a total of 5 highways with a combined length of 192.02 kilometers, centered around Chengdu, and has a total operational mileage of 474.77 kilometers including entrusted management[18][19]. - The company has invested in 8 subsidiaries and holds stakes in 9 joint ventures and associates in the energy sector[25]. Market and User Growth - User data indicates a growth in active users by 20% year-over-year, reaching 2 million active users by the end of 2024[13]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the last quarter, representing a 15% year-over-year growth[125]. - User data showed a 25% increase in active users, reaching 5 million by the end of the quarter[126]. Financial Guidance and Projections - The company projects a revenue guidance of RMB 1.8 billion for the next fiscal year, reflecting an expected growth rate of 20%[13]. - The company provided guidance for the next quarter, expecting revenue to be between $1.3 billion and $1.4 billion, indicating a growth rate of 10% to 15%[127]. Legal Matters - The company is involved in ongoing litigation with Sichuan Tuochuang Construction Engineering Co., Ltd., claiming a total of RMB 28,059,936[98]. - Chengdu Huaguan Industrial Co., Ltd. requested compensation of RMB 65,039,200 from Chengdu Energy Development Co., Ltd. for economic losses[101]. - The Sichuan High People's Court ordered Chengdu Energy Development Co., Ltd. to compensate Chengdu Huaguan Industrial Co., Ltd. RMB 8,000,000 within 15 days of the ruling[103]. Future Plans - The company plans to issue corporate bonds totaling up to RMB 2 billion to meet financing needs[40]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[131]. - The company has no significant investments or capital asset purchases planned for the future, as stated in the Chairman's report[94].

Financial Performance - For the nine months ended September 30, 2024, the group's operating revenue was RMB 2,157,954,255, a decrease of 2.2% compared to RMB 2,207,380,780 for the same period in 2023[5] - The group's net profit for the nine months ended September 30, 2024, was RMB 537,075,657, down 1.4% from RMB 544,933,521 in the previous year[6] - The group's gross profit margin for the nine months ended September 30, 2024, was approximately 38.3%, compared to 37.0% for the same period in 2023[5] - Total revenue for the nine months ended September 30, 2024, was RMB 392,455,690, representing an increase of 1.3% from RMB 385,434,138 in the previous year[11] - Net profit for the same period was RMB 340,526,597, a decline of 24.8% compared to RMB 453,096,161 in 2023[11] Assets and Liabilities - As of September 30, 2024, total assets amounted to RMB 9,136,667,770, a decrease from RMB 9,254,746,976 as of December 31, 2023[4] - The group's total liabilities as of September 30, 2024, were RMB 3,620,523,837, down from RMB 3,952,422,829 at the end of 2023, indicating a reduction of approximately 8.4%[4] - Total assets decreased to RMB 5,576,875,396 from RMB 5,663,893,841 at the end of 2023, reflecting a reduction of 1.5%[9] - Total liabilities decreased to RMB 1,495,071,905, down 9.1% from RMB 1,644,391,812 at the end of 2023[10] Cash Flow - Cash and cash equivalents decreased to RMB 1,592,986,962 from RMB 2,260,931,042, representing a decline of 29.5%[3] - Operating cash inflow for the nine months ended September 30, 2024, was RMB 2,304,437,095, a slight decrease of 1.9% compared to RMB 2,348,781,447 for the same period in 2023[7] - Net cash flow from operating activities decreased to RMB 761,615,949, down 16.1% from RMB 907,870,238 year-over-year[7] - Operating cash inflow for the nine months ended September 30, 2024, was RMB 445,990,655, a decrease of 7.0% from RMB 479,644,794 in the same period of 2023[12] - Net cash flow from operating activities decreased to RMB 184,871,997, down 44.0% compared to RMB 329,808,491 in the previous year[12] Investment Activities - The company reported an increase in accounts receivable to RMB 363,294,673, up from RMB 226,215,503, reflecting a significant rise of 60.6%[3] - The company reported a significant decrease in investment income to RMB 159,778,660, down 39.5% from RMB 263,978,098 in the same period last year[11] - The company did not receive any cash from new investments during the nine months, contrasting with RMB 35,829,347 received in the previous year[8] - Cash inflow from investment activities totaled RMB 725,217,415, a decline of 25.0% from RMB 967,475,111 in the prior year[13] - Net cash flow from investment activities was negative at RMB -393,125,448, slightly improved from RMB -410,000,306 in the same period last year[13] Financing Activities - Total cash outflow from financing activities was RMB 375,906,675, compared to RMB 1,002,660,770 in the previous year, indicating a significant reduction[13] - The company did not receive any cash from new borrowings or financing activities in the current period, contrasting with RMB 928,380,989 received in the same period last year[13] Expenses - The company’s financial expenses decreased to RMB 59,503,413 from RMB 63,146,078, a reduction of 5.2%[5] - Cash paid for purchasing goods and services increased to RMB 34,312,866, up 33.0% from RMB 25,814,008 in the previous year[12] - Cash paid for taxes rose to RMB 46,871,258, an increase of 30.5% compared to RMB 35,923,217 in the same period last year[12] - Cash paid for employee compensation was RMB 55,144,796, slightly higher than RMB 54,780,916 in the previous year[12] Equity - The total equity attributable to shareholders of the parent company increased to RMB 4,565,350,450 from RMB 4,348,644,919, marking an increase of 5.0%[4]

Financial Performance - Chengdu Expressway Co., Ltd. reported its 2024 interim results, with the report approved by the Board of Directors on August 27, 2024[6] - The report period covers the six months ending June 30, 2024[6] - Total assets of the company reached RMB 9.28 billion as of the reporting period[12] - The company achieved operating income of RMB 1,410,195,586, a year-on-year increase of 0.9%[21] - Net profit attributable to shareholders decreased by 8.7% to RMB 291,296,096[21] - Revenue for the first half of 2024 reached RMB 1,410,195,586, a 0.9% increase compared to the same period in 2023[24][28] - Net profit attributable to shareholders of the parent company was RMB 291,296,096, a decrease from RMB 319,172,940 in the same period last year[24] - Total assets as of June 30, 2024, were RMB 9,279,156,972, with total liabilities of RMB 3,989,332,517[25] - Net profit for the six months ended June 30, 2024, was RMB 314,673,547, compared to RMB 336,340,795 in the same period last year[76] - Basic and diluted earnings per share for the six months ended June 30, 2024, were RMB 0.18, down from RMB 0.19 in the same period last year[76] - Total comprehensive income for the six months ended June 30, 2024, was RMB 314,673,547, compared to RMB 336,340,795 in the same period last year[76] - Net profit for the period was 250,504,000 RMB, down from 382,589,417 RMB in the same period last year[83] - Revenue for the period was 236,112,718 RMB, slightly up from 236,043,003 RMB in the previous year[83] - Total comprehensive income for the period was 250,504,000 RMB, down from 382,589,417 RMB in the same period last year[84] - Comprehensive income for the period amounted to RMB 382,589,417[85] - The company's total revenue for the six months ended June 30, 2024, was RMB 1,410,195,586, slightly up from RMB 1,397,708,961 in the same period last year[108] - The company's net profit attributable to shareholders was RMB 291,296,096 for the six months ended June 30, 2024[106] - Net profit attributable to the company's shareholders for the six months ended June 30, 2024, was RMB 291,296,096, compared to RMB 319,172,940 in the same period in 2023[118] - Basic earnings per share for the six months ended June 30, 2024, was RMB 0.18, down from RMB 0.19 in the same period in 2023[118] - The company's external transaction revenue for the highway segment was RMB 758,595,676, while the energy industry segment generated RMB 651,599,910, totaling RMB 1,410,195,586 for the six months ended June 30, 2024[127] - The total profit for the highway segment was RMB 349,641,313, and the energy industry segment contributed RMB 17,949,050, resulting in a combined total profit of RMB 381,364,663 for the six months ended June 30, 2024[127] Subsidiaries and Equity Stakes - The company holds a 55% stake in Chengdu Airport Expressway Co., Ltd., a non-wholly owned subsidiary[3] - Chengdu Expressway Co., Ltd. holds a 51% stake in Sichuan Chengming Expressway Co., Ltd., another non-wholly owned subsidiary[4] - The company owns 100% of Chengdu Chengpeng Expressway Co., Ltd. and Chengdu Chengwenqiong Expressway Co., Ltd., both wholly-owned subsidiaries[4] - Chengdu Expressway Co., Ltd. holds a 94.49% stake in Chengdu Energy Development Co., Ltd., a non-wholly owned subsidiary[5] - The company holds a 40% stake in Chengdu North Exit Expressway Co., Ltd., an associate company[3] - The company holds 100% equity in Chengdu-Guanxian Expressway, Chengdu-Pengzhou Expressway, and Chengdu-Wenjiang-Qionglai Expressway[16][18] - The company holds 55% equity in Chengdu Airport Expressway, with the remaining 45% held by other entities[16][18] - The company holds 51% equity in Qiongming Expressway, with the remaining 49% held by Jiantou Construction Management[16][18] - The company holds a 100% stake in Chengwenqiong Expressway Company and Chengpeng Expressway Company, both involved in expressway management and operation[121] - The company holds a 55% stake in Chengdu Airport Gaoyuan Company, which is also involved in expressway management and operation[121] - The company holds a 51% stake in Chengdu Zhongyou Energy Co., Ltd., which operates gas stations[122] - The company holds a 50% stake in Sinopec Chengdu Energy, a joint venture involved in gas station management and operation[125] - The company holds a 48% stake in Dianfu Jiaotou, a joint venture involved in new energy battery swap facility operations[125] Highway Operations - The company manages a total highway network of 474.77 kilometers, including entrusted management[11] - The company's highway network includes 5 major highways with a total length of 192.02 kilometers[11] - The company's highway segment includes key routes such as the Chengdu Airport Expressway and the Chengdu-Wenjiang-Qionglai Expressway[13] - The company's highway operations include the management of the Tianfu Airport Expressway and the Chengdu Economic Zone Ring Expressway[13] - The company manages the Tianfu Airport Expressway, which is 88.25 km long with 6/8 lanes and 8 toll stations[19] - The company manages the Pudu Expressway, which is 101.42 km long with 6 lanes and 11 toll stations[19] - Highway business contributed RMB 757,863,025, accounting for 53.7% of total revenue, while the energy industry contributed RMB 652,332,561, accounting for 46.3%[26] - Toll revenue from highway operations decreased by 3.9% to RMB 680,441,004, with notable declines in Chengdu Airport Highway (-10.4%) and Qionglai-Mingshan Highway (-9.4%)[27] - Total weighted average daily traffic volume for highways decreased by 3.5% to 209,343 vehicles in H1 2024 compared to H1 2023[29] - Highway toll revenue and traffic volume declined due to factors like extreme weather, increased free holiday days, and construction impacts[30] - Revenue from toll collection reached RMB 680,441,004 for the six months ended June 30, 2024[111] - Total operating revenue for the six months ended June 30, 2023, was RMB 1,378,451,983, with toll revenue contributing RMB 708,105,985 and refined oil sales revenue contributing RMB 621,025,291[113] Energy Sector - The company operates a total of 26 gas stations and is constructing 4 gas stations[11] - The company's energy sector includes subsidiaries and joint ventures engaged in oil and natural gas businesses[14] - The company's energy development company directly or indirectly owns 4 subsidiaries and has stakes in 10 joint ventures and associated companies[14] - The company's energy sector is involved in oil, natural gas, and new energy businesses through various subsidiaries[15] - The company's energy sector includes the management of 3 gas stations, including the Xinhua Gas Station[11] - The energy sector revenue increased by 2.9% to RMB 652,332,561, driven by higher sales of refined oil products[21] - The company operates 18 gas stations under Zhongyou Energy and 5 gas stations under Jiaotou Energy[20] - The company is focusing on new energy business development, including integrated charging stations and related services[22] - Energy sector revenue increased by 2.9% to RMB 652,332,561 in H1 2024, driven by higher fuel sales[31] - Revenue from refined oil sales amounted to RMB 632,461,625 for the six months ended June 30, 2024[111] - PetroChina's refined oil sales amounted to RMB 347,418,283 in the first half of 2024, a 10.3% increase from RMB 314,978,214 in the same period of 2023[146] - Shell's refined oil sales reached RMB 121,987,640 in the first half of 2024, compared to no sales in the same period of 2023[146] - The company's total retail oil sales through recharge cards and electronic coupons for the first half of 2024 amounted to RMB 123,920,806, with the majority from PetroChina at RMB 116,361,884[164] Legal and Regulatory Matters - The company withdrew its A-share listing application on June 4, 2024, due to regulatory adjustments and strategic considerations[22] - The company is involved in a legal dispute with Sichuan Xuyang Petrochemical Trading Co., Ltd., regarding the termination of agreements and claims for economic losses[68] - The company decided to withdraw its A-share listing application on June 4, 2024, due to adjustments in capital market review policies and future business strategy positioning[70] - The lawsuit between Energy Development Company and Huaguan Industrial involves claims for economic losses amounting to RMB 65,039,200[48] - The Sichuan High People's Court ruled that Energy Development Company and Huaguan Industrial have a contractual relationship, overturning the previous judgment[48] - The Chengdu Intermediate People's Court dismissed Huaguan Industrial's claims, stating they lacked factual and legal basis[49] Shareholder Information - The company's H shares are listed and traded on the Hong Kong Stock Exchange[5] - The company's controlling shareholders are Chengdu Traffic Investment Group Co., Ltd. and Chengdu Traffic Construction Management Group Co., Ltd.[5] - Chengdu Communications Investment holds 900,000,000 domestic shares, representing 100% of the domestic share category[54] - Chengdu Communications Investment beneficially owns 300,000,000 domestic shares, accounting for 72.46% of the total issued share capital[54] - Guangdong Provincial Communications Group holds 100,000,000 H-shares, representing 21.92% of the H-share category and 6.04% of the total issued share capital[55] - New Yue Limited beneficially owns 100,000,000 H-shares, accounting for 21.92% of the H-share category and 6.04% of the total issued share capital[55] - Chengdu Jiaozi Financial Holding Group beneficially owns 50,000,000 H-shares, representing 10.96% of the H-share category and 3.02% of the total issued share capital[55] - Chengdu Rail Transit Group holds 49,950,000 H-shares, accounting for 10.95% of the H-share category and 3.02% of the total issued share capital[55] - Fullgoal Fund Management Company holds 49,900,000 H-shares as an investment manager, representing 10.94% of the H-share category and 3.01% of the total issued share capital[56] - Chengdu Urban Construction Investment Management Group beneficially owns 49,900,000 H-shares, accounting for 10.94% of the H-share category and 3.01% of the total issued share capital[56] - Chengdu Environmental Investment Group beneficially owns 45,450,000 H-shares, representing 9.96% of the H-share category and 2.74% of the total issued share capital[56] - Chengdu Tianfu New Area Investment Group holds 42,939,000 H-shares, accounting for 9.41% of the H-share category and 2.59% of the total issued share capital[56] - The company distributed a final dividend of RMB 278,225,136 for the year ended December 31, 2023, at RMB 0.168 per share[60] - The Board recommended not to distribute an interim dividend for the six months ended June 30, 2024[60] - The company declared a cash dividend of RMB 0.168 per share, totaling RMB 278,225,136[106] Cash Flow and Financial Position - Cash flow from operating activities for the six months ended June 30, 2024, was RMB 422,428,104, down from RMB 483,020,184 in the same period last year[79] - Cash flow from investing activities for the six months ended June 30, 2024, was negative RMB 121,595,769, compared to positive RMB 490,538 in the same period last year[79] - Net cash flow from financing activities was -224,115,665 RMB, compared to -120,202,751 RMB in the same period last year[80] - Cash and cash equivalents increased by 76,716,670 RMB, reaching 2,337,647,712 RMB at the end of the period[80] - Total assets increased to 5,762,210,295 RMB from 5,663,893,841 RMB at the end of the previous year[81] - Total liabilities increased to 1,770,429,402 RMB from 1,644,391,812 RMB at the end of the previous year[82] - Shareholders' equity decreased to 3,991,780,893 RMB from 4,019,502,029 RMB at the end of the previous year[84] - Cash flow from operating activities was RMB 138,358,781 for the six months ended June 30, 2024[86] - Cash flow from investing activities was RMB 126,486,742 for the six months ended June 30, 2024[86] - Cash flow used in financing activities was RMB 144,328,325 for the six months ended June 30, 2024[87] - Net increase in cash and cash equivalents was RMB 106,935,419 for the six months ended June 30, 2024[87] - Total issued share capital remained at RMB 1,656,102,000 as of June 30, 2024[88] - Total monetary funds as of June 30, 2024, amounted to RMB 2,337,647,712, with RMB 13,728,231 held overseas[93] - Accounts receivable as of June 30, 2024, totaled RMB 308,615,280, with a bad debt provision of RMB 3,535,372[94] - Long-term equity investments as of June 30, 2024, amounted to RMB 520,874,550, with no impairment provisions[95] - The book value of intangible assets as of June 30, 2024, was RMB 5,209,223,405, with RMB 3,907,244,447 subject to ownership restrictions[96] - Prepaid land payments as of June 30, 2024, increased to RMB 57,115,076 from RMB 16,220,103 at the end of 2023[98] - Accounts payable as of June 30, 2024, totaled RMB 452,552,812, with RMB 382,429,117 being over one year old[99] - Total short-term liabilities increased to RMB 297,130,666 as of June 30, 2024, up from RMB 248,194,146 at the end of 2023[100] - Long-term borrowings decreased to RMB 2,027,281,765 as of June 30, 2024, compared to RMB 2,175,781,765 at the end of 2023[101] - The company's total assets under lease liabilities were RMB 9,428,899 as of June 30, 2024[100] - The company's total other non-current liabilities were RMB 125,278,474 as of June 30, 2024[105] - The interest rate on long-term borrowings ranged from 2.98% to 3.96% as of June 30, 2024[103] - The company's long-term borrowings had a book value of RMB 2,027,281,765 and a fair value of RMB 2,027,144,433 as of June 30, 2024[140] Employee and Management Information - The company has 2,291 employees, with 85.6% being frontline workers and 1.2% being senior management[50] - Employee costs for the reporting period were RMB 186,612,116, compared to RMB 162,524,464 in the same period last year[51] - The company's compensation policy includes fixed salaries and performance bonuses for senior management, based on annual performance targets[50] - The company provides comprehensive welfare plans, including retirement, medical benefits, and various training programs for employees[51] - The company's performance evaluation for senior management is based on eight key performance targets, including business performance and reform integration[51] - Key management personnel compensation for the first half of 2024 was RMB 3,497,456, up from RMB 3,286,967 in the same period of 2023[159] Related Party Transactions - Total transactions with related parties increased by 50% to RMB 476,666,082 in the first half of 2024 from RMB 317,825,074 in the same period of 2023[146] - Sales of refined oil and goods to Xinhua Gas Station decreased by 12% to RMB 20,947,908 in the first half of 2024 from RMB 23,798,071 in the same period of 2023[147] - Sales of refined oil and goods to Chengdu Gas Station dropped by 69% to RMB 8,219,333 in the first half of 2024 from RMB 26,473,329 in the same period of 2023[147] - Total sales to related parties decreased by 53% to RMB 30,045,427 in the first half of 2024 from RMB 64,405,668 in the same period of

Financial Performance - Chengdu Expressway Company reported a significant increase in traffic volume, with a weighted average daily traffic flow of 150,000 vehicles, representing a 10% year-over-year growth[15]. - The company achieved a revenue of RMB 1.2 billion for the first half of 2024, reflecting a 15% increase compared to the same period last year[16]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating enhanced operational efficiency[16]. - The group achieved operating revenue of RMB 1,410,195,586 for the reporting period, a 0.9% increase compared to RMB 1,397,708,961 in the same period last year[27]. - Net profit attributable to the parent company was RMB 291,296,096, an 8.7% decrease from RMB 319,172,940 in the previous year[27]. - Total profit for the reporting period was RMB 381,364,663, down from RMB 408,148,778 in the previous year[30]. - Basic earnings per share decreased to 0.18 from 0.19 in the same period last year[30]. - The company reported a net profit for the six months ending June 30, 2024, of RMB 314,673,547, a decrease from RMB 336,340,795 for the same period in 2023, reflecting a decline of about 6.43%[83]. - The total comprehensive income for the six months ended June 30, 2024, was RMB 314,673,547, with a net profit of RMB 291,296,096 attributed to the parent company[84]. Operational Developments - The company plans to expand its network by adding 200 kilometers of new highways by 2025, aiming to increase market share in the region[16]. - The company is investing RMB 300 million in new energy projects, focusing on the development of compressed natural gas stations[16]. - The group operates a total of 5 highways with a combined length of 192.02 kilometers, and the total operational mileage, including entrusted management, reaches 474.77 kilometers[18][19]. - The group is currently managing 26 gas stations and is constructing 4 gas filling stations in Chengdu, Sichuan Province[18]. - The company is currently constructing 4 gas stations and managing 3 additional gas stations, expanding its energy segment operations[32]. - The company has established new subsidiaries during the period, including 川路通公司 and 金牛新源裡, enhancing its operational capabilities in highway management and electric vehicle charging facilities[130]. Strategic Initiatives - The company is committed to expanding its operational capabilities and market presence through strategic investments and partnerships[5]. - Chengdu Expressway is exploring potential acquisitions of smaller regional expressway operators to enhance its market presence[16]. - The company is exploring potential mergers and acquisitions to strengthen its market position[186]. - The company has launched a new toll collection technology that is expected to reduce operational costs by 5% annually[16]. - The company is committed to sustainability, targeting a 50% reduction in carbon emissions by 2025[186]. Governance and Management - The board of directors includes three executive directors and four independent non-executive directors, ensuring a diverse governance structure[2]. - The board emphasizes risk management and audit committee reviews to ensure financial accuracy and compliance[2]. - The company’s audit and risk management committee consists of three directors, ensuring oversight of financial reporting and compliance[68]. - The company has adopted the Corporate Governance Code and has complied with its principles, with minor deviations noted[69]. - The chairman and CEO roles are held by the same individual, which the board believes enhances decision-making efficiency[69]. Cash Flow and Investments - The net cash flow from operating activities was RMB 422,428,104, a decrease of 12.5% from RMB 483,020,184 in the same period of 2023[49]. - The net cash flow used in investment activities for the reporting period was RMB 121,595,769, a decrease of RMB 122,086,307 compared to RMB 490,538 in the same period of 2023[50]. - The net cash flow used in financing activities for the reporting period was RMB 224,115,665, an increase of RMB 103,912,914 compared to RMB 120,202,751 in the same period of 2023[50]. - The company plans to invest approximately RMB 12.652 billion in the Chengwen-Qionghai Expressway expansion project, which will upgrade the highway to a dual eight-lane standard, with funding expected to come from the company's own funds and/or bank loans[52]. Market and User Engagement - User data indicates a 20% increase in the number of registered users for the company's mobile app, enhancing customer engagement[16]. - Customer satisfaction ratings improved by 12% following recent service enhancements[186]. - The company projects a revenue guidance of approximately 1.2 billion HKD for the next quarter, reflecting a 10% increase[186]. Financial Position - The total assets of the group amounted to RMB 9.28 billion as of the reporting date[18]. - Total liabilities at the end of the reporting period were RMB 3,989,332,517, a 0.9% increase from RMB 3,952,422,829 at the end of 2023[43]. - The group's interest-bearing borrowings totaled RMB 2,634,511,399, with 66.0% being interest-bearing loans, down from 70.4% at the end of 2023[44]. - The company's total equity attributable to shareholders was RMB 4,361,550,096, slightly up from RMB 4,348,644,919 as of December 31, 2023[82]. Legal Matters - The company is currently involved in a lawsuit with Huaguan Industrial, with claims for economic losses amounting to RMB 65,039,200, which the management believes should not result in any liability for the company[54][55]. - The first-instance judgment by the Chengdu Intermediate People's Court dismissed Huaguan Industrial's claims, which the company believes supports its position in the ongoing legal matter[55]. - The company is involved in a lawsuit with Xuyang Petrochemical, with a court ruling on June 13, 2023, requiring the company to pay RMB 16,672,060 to Xuyang Petrochemical[75]. Employee and Compensation - The group had a total of 2,291 employees at the end of the reporting period, with 1,962 frontline workers accounting for 85.6% of the total[56]. - Employee costs amounted to RMB 186,612,116, an increase from RMB 162,524,464 in the same period last year, representing a growth of approximately 14.5%[57]. - The company emphasizes employee training, organizing multiple training sessions covering governance, compliance, management, and professional skills[57]. - Senior management compensation includes fixed salaries and performance bonuses, with bonuses based on the achievement of annual performance targets[56].

Financial Performance - The group's operating revenue for the three months ended March 31, 2024, was RMB 684,684,715, an increase from RMB 651,407,141 for the same period in 2023, representing a growth of approximately 5.2%[7] - The net profit attributable to the owners of the parent company for the three months ended March 31, 2024, was RMB 139,456,654, down from RMB 155,331,106 in the same period of 2023, reflecting a decrease of about 10.2%[7] - The group reported a decrease in operating profit to RMB 178,663,172 for the three months ended March 31, 2024, down from RMB 194,088,991 in the same period of 2023, a decline of approximately 7.9%[7] - Total revenue for the three months ended March 31, 2024, was RMB 110,442,322, a decrease of 4.5% compared to RMB 115,480,995 in the same period of 2023[17] - Net profit for the three months ended March 31, 2024, was RMB 54,803,829, down 9.5% from RMB 60,569,611 year-over-year[17] Assets and Liabilities - Total assets as of March 31, 2024, amounted to RMB 9,279,024,649, slightly up from RMB 9,254,746,976 as of December 31, 2023[3] - The total liabilities decreased to RMB 3,811,710,852 as of March 31, 2024, from RMB 3,952,422,829 as of December 31, 2023, indicating a reduction of approximately 3.6%[5] - The group's total non-current assets were RMB 6,521,664,294 as of March 31, 2024, compared to RMB 6,582,242,273 as of December 31, 2023, showing a decrease of approximately 0.9%[3] - Total assets as of March 31, 2024, amounted to RMB 5,693,954,066, a slight increase from RMB 5,663,893,841 at the end of 2023[13] - Total liabilities decreased to RMB 1,619,648,207 from RMB 1,644,391,812 at the end of 2023, reflecting a reduction of 1.5%[15] Cash Flow - Cash and cash equivalents were reported at RMB 1,750,667,626 as of March 31, 2024, down from RMB 2,260,931,042 as of December 31, 2023, a decline of about 22.4%[3] - Operating cash inflow for the three months ended March 31, 2024, was RMB 713,680,821, an increase of 13.2% from RMB 630,011,360 in the same period of 2023[9] - Net cash flow from operating activities decreased to RMB 175,041,487, down 29.1% from RMB 246,983,819 year-over-year[9] - Cash outflow from investing activities was RMB 637,581,439, significantly higher than RMB 66,065,575 in the previous year[9] - The net increase in cash and cash equivalents for the period was RMB -501,597,424, compared to RMB -20,624,092 in the previous year, indicating a significant cash depletion[20] Investment Income - The investment income for the three months ended March 31, 2024, was RMB 7,960,375, significantly higher than RMB 2,648,956 for the same period in 2023, indicating an increase of approximately 200.5%[7] - The company reported an increase in investment income to RMB 5,621,013, compared to RMB 2,100,555 in the same period of 2023[17] - Cash inflow from investment activities totaled RMB 12,801,300, significantly higher than RMB 2,800,000 in the previous year[20] - Cash outflow for investment activities surged to RMB 552,633,703 from RMB 66,640,727, indicating a substantial increase in investment expenditures[20] - Net cash flow from investment activities was negative at RMB -539,832,403, compared to RMB -63,840,727 in the prior year, marking a decline of approximately 746.5%[20] Financial Caution - The company emphasizes that the financial data presented has not been reviewed or audited by its auditors, and shareholders should exercise caution when trading its securities[20]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 15% year-over-year growth[8]. - Chengdu Highway Company reported a significant increase in revenue, reaching RMB 1.2 billion for the fiscal year ending December 31, 2023, representing a 15% year-over-year growth[5]. - In 2023, the company's total revenue reached RMB 2,894,040,981, an increase of 11.5% compared to RMB 2,596,622,994 in 2022[40]. - The highway business revenue was RMB 1,593,531,284, up from RMB 1,304,595,516 in 2022, reflecting a growth of 22.2%[40]. - The net profit attributable to shareholders was RMB 618,766,312, representing a 26.2% increase from RMB 490,148,932 in 2022[40]. - The gross profit for 2023 was RMB 1,042,050,401, compared to RMB 871,067,371 in 2022, marking a growth of 19.6%[40]. - The company's total revenue for the reporting period reached RMB 2,894,040,981, an increase of 11.5% compared to RMB 2,596,622,994 in 2022[54]. - The energy sector generated RMB 1,300,509,697 in revenue, representing 44.9% of total revenue for the year[43]. - The company’s net profit for 2023 is RMB 514,452,464, with distributable profits for shareholders amounting to RMB 463,007,218[172]. User Engagement and Market Expansion - User data showed a 20% increase in active users, reaching 500,000 by the end of the reporting period[8]. - The company reported a 20% increase in user data for its mobile app, which now has over 500,000 active users, enhancing customer engagement and service efficiency[5]. - The company plans to enhance its digital infrastructure, allocating 50 million RMB for technology upgrades in the upcoming year[8]. - The company plans to expand its service areas, with three new service stations expected to be operational by mid-2024, aiming to enhance customer service and increase fuel sales[13]. - The company is expanding its market presence by entering three new provinces, aiming for a 25% increase in market share[8]. - The company is considering strategic acquisitions to enhance its service offerings, with a target of identifying potential candidates by Q1 2024[43]. Strategic Initiatives and Investments - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[8]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on electric vehicle charging stations[8]. - The company is investing 100 million RMB in R&D for new technologies related to highway management systems[8]. - The company is investing in new technologies for fuel management systems, with an estimated budget of RMB 50 million allocated for research and development in 2024[13]. - The company is investing approximately RMB 12.652 billion in the Chengwenqiong Expressway expansion project, with plans to commence construction in 2024[48]. Operational Efficiency and Cost Management - The management highlighted a 5% reduction in operational costs due to improved efficiency measures implemented in the last quarter[8]. - The gross profit margin improved to 35% in 2023, up from 30% in the previous year, reflecting better cost management and pricing strategies[11]. - The group's operating costs for the reporting period amounted to RMB 1,851,990,580, an increase of RMB 126,434,957 or 7.3% compared to the same period in 2022[65]. Corporate Governance and Management - The company has adopted the Corporate Governance Code and has complied with applicable provisions, except for deviations in specific clauses regarding the separation of roles between the Chairman and CEO[109]. - The company emphasizes innovation, collaboration, accountability, and integrity as its core values[114]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors, with a term of three years[116]. - The company has established mechanisms to ensure the board receives independent opinions to enhance decision-making effectiveness[125]. - The company has a clear division of responsibilities between the Chairman and the General Manager to ensure efficient execution of duties[119]. Risk Management and Compliance - The company has established a three-tier risk management system, with various departments responsible for first-level prevention and the Audit and Risk Management Committee overseeing the overall risk management work[147]. - The company conducts risk assessments at least once a year based on collected risk information and business management processes[145]. - The company has engaged a third-party organization to conduct control testing on the effectiveness of risk management and internal control systems, with annual self-assessments based on risk management objectives and control points[148]. - The company confirms its responsibility for preparing financial statements that fairly reflect its financial position and performance, adhering to Chinese accounting standards[153]. Shareholder Relations and Dividends - The company has implemented a shareholder communication policy to enhance investor relations and ensure effective dialogue with shareholders[161]. - The board recommends a final cash dividend of RMB 0.168 per share, totaling RMB 278,225,136 based on the current total shares of 1,656,102,000[172]. - The proposed dividend represents approximately 60.1% of the company's distributable profits for the year[172]. - The company maintains sufficient public float as per listing rules[178].

Financial Performance - Chengdu Expressway Co., Ltd. reported audited financial results for the year ending December 31, 2023[1]. - Chengdu Expressway Co., Ltd. reported a revenue of RMB 1.2 billion for the fiscal year ending December 31, 2023, representing a year-on-year increase of 15%[9]. - The company achieved a net profit of RMB 300 million, up 20% compared to the previous year, driven by increased traffic volume on expressways[11]. - Total revenue for 2023 reached RMB 2,894,040,981, an increase of 11.5% compared to RMB 2,596,622,994 in 2022[41]. - Net profit attributable to shareholders was RMB 618,766,312, representing a 26.2% increase from RMB 490,148,932 in 2022[41]. - Basic earnings per share for 2023 were RMB 0.37, consistent with the previous year[41]. - The energy sector generated revenue of RMB 1,300,509,697, slightly down from RMB 1,292,027,478 in 2022[41]. - The company plans to distribute a final cash dividend of RMB 0.168 per share, totaling RMB 278,225,136 based on 1,656,102,000 shares[45]. - The proposed dividend represents approximately 60.1% of the company's distributable profits for the year[169]. Operational Highlights - The company operates a total of 5 highways with a combined length of 192.02 kilometers, and the total operational management mileage, including entrusted management, reaches 474.77 kilometers[17][20]. - The company is involved in the operation and management of the Sichuan Chengmian Cangba Expressway segment[6]. - User data indicates a 10% increase in daily traffic on Chengdu-Pengzhou Expressway, reaching an average of 150,000 vehicles per day[12]. - The average daily traffic volume across all highways increased by 21.5% to 220,496 vehicles in 2023 compared to 181,497 vehicles in 2022[60]. - The Chengdu Airport Expressway saw a significant toll revenue increase of 31.4% to RMB 111,378,926, driven by a recovery in traffic post-pandemic[59]. Strategic Initiatives - The company plans to expand its market presence by investing RMB 500 million in new highway projects over the next two years[14]. - Chengdu Expressway Co., Ltd. is exploring potential acquisitions in the transportation sector to enhance its service offerings and market share[14]. - The company is focused on expanding its service areas, including the Ande service areas on the Chengdu-Guan Highway[6]. - The company is committed to developing new technologies, including electric vehicle charging stations[6]. - The company is committed to sustainability, aiming to reduce carbon emissions by 25% by 2025 through various initiatives[14]. Governance and Management - The board of directors includes executive directors Yang Tan, Xia Wei, and Ding Dapan, along with non-executive and independent directors[2]. - The company has a diverse board with members holding significant experience in engineering, finance, and management, enhancing strategic decision-making capabilities[100][101][102]. - The company emphasizes the importance of governance and strategic development through its various committees and board structure[97][100]. - The company has established mechanisms to ensure the board receives independent opinions to enhance decision-making effectiveness[125]. - The company has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value[110]. Risk Management - The company has established a three-tier risk management system, with various departments responsible for different levels of risk prevention and management oversight[144]. - The company conducts risk assessments at least once a year based on collected initial risk information and business management processes[143]. - The Audit and Risk Management Committee is responsible for overseeing the company's risk management efforts and reporting to the Board of Directors[144]. - The company has developed a corrective action plan based on the annual internal control assessment results to address significant internal control deficiencies[147]. - The company has completed an annual evaluation of the effectiveness of its risk management and internal control systems, concluding that there are no significant deficiencies[148]. Shareholder Relations - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[158]. - The company maintains sufficient public float as per listing rules[175]. - H shareholders must submit transfer documents by May 31, 2024, to qualify for the final dividend payment[173]. - The company will withhold a 10% corporate income tax for non-resident shareholders on dividends distributed[170]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[166]. Legal Matters - Chengdu High-Speed Railway Company is involved in a lawsuit with Huaguan Industrial, claiming economic losses of RMB 36,876,367 due to unresolved land use procedures for gas stations[83]. - The Sichuan High People's Court ruled on February 15, 2023, that the contract relationship between Chengdu High-Speed Railway Company and Huaguan Industrial exists, leading to a retrial of the case[83]. - Chengdu High-Speed Railway Company is also in litigation with Xuyang Petrochemical, with Xuyang claiming RMB 28,162,100 in economic losses due to contract termination[86]. - On June 13, 2023, a court ruled that Chengdu High-Speed Railway Company must pay Xuyang RMB 16,672,060, including various damages and interest[87]. Future Outlook - The company has set a performance guidance for 2024, expecting a revenue growth of 12% and a net profit increase of 15%[11]. - The company is actively pursuing A-share IPO registration, with materials currently under review by regulatory authorities[51]. - The company aims to become a leading integrated service provider in the transportation sector, focusing on the Chengdu area and gradually expanding to other markets[114].