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 易所網站發佈的公告如下，僅供參閱。 | 证券代码：600012 | 证券简称：皖通高速 | | | 公告编号：临 | 2025-028 | | --- | --- | --- | --- | --- | --- | | 债券代码：242121 | 债券简称：24 | 皖通 | 01 | | | | 债券代码：242467 | 债券简称：25 | 皖通 | V1 | | | | 债券代码：242468 | 债券简称：25 | 皖通 | V2 | | | 安徽皖通高速公路股份有限公司 ...

Core Points - The company announced a cash dividend distribution of RMB 0.604 per share for A shares, totaling approximately RMB 1,031,989,500.96 based on a total share capital of 1,708,591,889 shares [1][2] - The record date for the dividend is set for July 29, 2025, with the last trading day also on July 30, 2025, and the dividend payment date to be confirmed [2][3] - The company will not implement a capital reserve transfer to increase share capital this year [4] Dividend Distribution Details - The cash dividend of RMB 0.604 per share is applicable to individual shareholders and securities investment funds, with tax implications based on the holding period [3][5] - For qualified foreign institutional investors (QFII) and Hong Kong market investors, a 10% withholding tax will apply, resulting in a net dividend of RMB 0.5436 per share [5][6] - Resident enterprise shareholders are responsible for their own tax payments, with the gross dividend being RMB 0.604 per share [6] Implementation Method - The dividends for A shares will be distributed through the China Securities Depository and Clearing Corporation Limited Shanghai Branch, with specific arrangements for shareholders who have completed designated transactions [2][3] - The company will directly distribute dividends to shares held by Anhui Transportation Holding Group Co., Ltd. and China Merchants Highway Network Technology Holdings Co., Ltd. [2]

Core Insights - The AI Fund Huatai-PineBridge Dividend Smart Selection Mixed Fund A (021515) reported a profit of 675,500 yuan for Q2 2025, with a weighted average profit per fund share of 0.0654 yuan [3] - The fund's net asset value (NAV) growth rate for the reporting period was 6.4%, and as of the end of Q2, the fund size was 11.4554 million yuan [3] - The fund manager indicated a high position operation throughout the reporting period, with a focus on high-dividend Hong Kong stocks and low-volatility sectors like banking and transportation [3] Fund Performance - As of July 18, the fund's three-month cumulative NAV growth rate was 10.38%, ranking 325 out of 615 comparable funds [4] - The six-month cumulative NAV growth rate was 12.76%, ranking 235 out of 615 comparable funds [4] - The fund's Sharpe ratio since inception was 0.1788 as of June 27 [8] Risk Metrics - The maximum drawdown since inception was 8.18%, with the largest quarterly drawdown occurring in Q2 2025 at 7.8% [9] - The average stock position since inception was 81.35%, compared to the peer average of 83.26%, with a peak stock position of 93.31% at the end of H1 2025 [12] Portfolio Composition - As of the end of Q2 2025, the fund's top holdings included Agricultural Bank of China, China Merchants Bank, China Construction Bank, Bank of China, Gree Electric Appliances, Industrial and Commercial Bank of China, China Mobile, Anhui Wanan Highway, Chongqing Rural Commercial Bank, and Citic Bank [16]

| 证券代码：600012 | 证券简称：皖通高速 | | | 公告编号：临 | 2025-028 | | --- | --- | --- | --- | --- | --- | | 债券代码：242121 | 债券简称：24 | 皖通 | 01 | | | | 债券代码：242467 | 债券简称：25 | 皖通 | V1 | | | | 债券代码：242468 | 债券简称：25 | 皖通 | V2 | | | 安徽皖通高速公路股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/29 | － | 2025/7/30 | 2025/7/30 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经安徽皖通高速公路股份有限公司（以下简称"本公司"） 2 ...

Core Viewpoint - Anhui Expressway Company Limited has entered into a construction general contracting agreement for the design and construction of an emergency management station for a new tunnel on the G4221 Hu-Wu Expressway, with a total expected cost of approximately RMB 13.16 million [3][5]. Group 1: Contract Details - The construction general contracting agreement was signed on July 11, 2025, between Anqing Bridge Company and a consortium consisting of the Design Institute, Jiangkou Engineering, and Jiangkou Construction [1][2]. - The contract duration is set for 6 months, starting from the actual issuance of the construction order [3]. - The expected total cost of the project is RMB 13,159,910.21, which will be paid from the company's own funds [3][5]. Group 2: Related Party Transactions - Anhui Expressway Company Limited's major shareholder, Anhui Transportation Holding Group, holds approximately 33.63% of the company's issued shares, qualifying as a related party under listing rules [2][6]. - The transaction falls under the related party transaction category as the consortium members are subsidiaries of Anhui Transportation Holding Group [2][6]. - Since the applicable percentage rate for the transaction exceeds 0.1% but does not exceed 5%, independent shareholder approval is not required, but compliance with listing rules regarding announcements and annual reporting is necessary [6]. Group 3: Justification and Benefits - The agreement is deemed necessary for the company's operations and was awarded through a public bidding process, ensuring compliance with normal commercial terms [5][7]. - The consortium possesses the necessary qualifications for the project, including comprehensive engineering design and construction capabilities [5][8]. - The board of directors has approved the agreement, considering it fair and reasonable, aligning with the overall interests of the company and its shareholders [7].

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 關連交易：隧道應急管理站施工工程總承包協議 董事會宣佈，於2025年7月11日，本公司附屬公司安慶大橋公司與設計總院、交 控工程及交控建工組成的聯合體就G4221滬武高速岳武段新建隧道之隧道應急管 理站設計施工簽訂施工總承包協議（下稱「設計施工總承包合同」）。根據設計施 工總承包合同，安慶大橋公司委託聯合體為安慶大橋公司所轄路段提供設計施 工服務。 日期 2025年7月11日 協議方 合同事項 根據設計施工總承包合同，安慶大橋公司委託聯合體為安慶大橋公司所轄G4221滬 武高速岳武段新建隧道之隧道應急管理站的施工提供設計施工服務。該等服務主要 包括：施工圖紙及設計、房屋與建築工程、道路工程、交通安全設施、綠化及相關 配套設施建設。 合同期 ...

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 合同事項 根據設計施工總承包合同，安慶大橋公司委託聯合體為安慶大橋公司所轄G4221滬 武高速岳武段新建隧道之隧道應急管理站的施工提供設計施工服務。該等服務主要 包括：施工圖紙及設計、房屋與建築工程、道路工程、交通安全設施、綠化及相關 配套設施建設。 董事會宣佈，於2025年7月11日，本公司附屬公司安慶大橋公司與設計總院、交 控工程及交控建工組成的聯合體就G4221滬武高速岳武段新建隧道之隧道應急管 理站設計施工簽訂施工總承包協議（下稱「設計施工總承包合同」）。根據設計施 工總承包合同，安慶大橋公司委託聯合體為安慶大橋公司所轄路段提供設計施 工服務。 截至本公告日期，安徽交控集團現持有本公司已發行股份總數約33.63%，按照 上市規則定 ...

Investment Rating - The report rates the transportation industry as "Outperforming the Market" [2] Core Insights - The easing of the Israel-Iran conflict has led to a decline in oil tanker rates, with the VLCC market shifting from geopolitical influences to supply-demand fundamentals [3][14] - The establishment of the General Aviation and Low Altitude Economy Working Group by the Civil Aviation Administration of China (CAAC) aims to enhance the development of low-altitude economy and general aviation [3][16] - The price of unmanned logistics vehicles has dropped to around 20,000 yuan, contributing to a 5.3% year-on-year growth in national social logistics total in the first five months of 2025 [3][22] Industry Highlights - The VLCC market sentiment has transitioned to supply-demand fundamentals, with tanker rates under pressure due to increased competition among shipowners and no significant rise in cargo volumes [3][14] - As of July 4, 2025, the shipping rates from Shanghai to Europe increased by 3.5% to 2,101 USD/TEU, while rates to the US West and East coasts decreased by 19.0% and 12.6%, respectively [3][15] - In the first half of 2025, 117 new international air cargo routes were opened in China, with over 233 round-trip flights added weekly [3][16][18] - The logistics sector has seen a total of 138.7 trillion yuan in social logistics, reflecting a 5.3% year-on-year increase, with a slight deceleration in growth compared to previous months [3][24] High-Frequency Data Tracking - In June 2025, domestic cargo flights increased by 9.42% year-on-year, while international flights rose by 32.87% [26][33] - The express delivery sector experienced a 17.20% year-on-year increase in business volume in May 2025, with total express business volume reaching 173.2 billion pieces [56][58] - The national port cargo throughput reached 7.345 billion tons in the first five months of 2025, marking a 3.8% year-on-year growth [52]

Core Viewpoint - The article emphasizes the importance of long-term investment in quality stocks, suggesting that despite market fluctuations, holding onto these stocks can yield significant returns over time [1][3][5]. Group 1: Market Trends and Historical Performance - Recent bank stocks have reached new highs, with some, like Industrial and Commercial Bank of China, increasing by over 10% in the first half of the year [1]. - Between 2001 and 2005, despite a significant market downturn, quality stocks like Wuhu Port and Shanghai Airport saw their prices double [1][2]. - Wuhu Port experienced a 223% increase during the bear market, despite facing monthly declines exceeding 7% multiple times [2]. Group 2: Investment Strategies - Long-term holding of stocks is advocated, with successful investors often maintaining a full position in their portfolios, except during extreme market bubbles [3][4]. - The article highlights the strategy of using leverage cautiously, with a maximum of 30%, focusing on companies with strong liquidity and stable cash flows [3]. - Historical data suggests that long-term stock market returns average around 10% annually, primarily driven by the intrinsic value created by companies rather than speculative gains [6][7]. Group 3: Psychological Aspects of Investing - Investors are encouraged to remain calm during market downturns, as temporary price fluctuations should not deter them from holding quality stocks [5][7]. - The analogy of a flight journey is used to illustrate that while there may be turbulence (market volatility), a well-structured investment portfolio will ultimately reach its destination [6].

Core Viewpoint - Anhui Wantuo Expressway Co., Ltd. has engaged in significant related transactions involving safety facility upgrades and highway expansion projects, indicating ongoing infrastructure development and collaboration with its controlling shareholder, Anhui Jiaokong Group [1][3]. Company Announcements Summary - The company signed six related-party contracts for safety facility upgrades totaling RMB 47,073,318.28, involving various road sections under its subsidiaries [1][3]. - Ongoing related transactions include service contracts for the G50 and G30 highway expansion projects, with annual caps reaching RMB 6,000,000 by 2028 [1][3].