Financial Performance - The company's operating revenue for Q3 2024 was ¥1,990,476,328.15, a decrease of 1.47% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥411,212,643.00, down 19.57% year-on-year[4]. - The basic earnings per share for Q3 2024 was ¥0.2479, a decrease of 19.57% year-on-year[4]. - The weighted average return on equity for Q3 2024 was 3.24%, a decrease of 0.99 percentage points compared to the previous year[4]. - The total operating revenue for the first three quarters of 2024 reached RMB 5,043,450,578.02, an increase of 16.1% compared to RMB 4,344,060,266.07 in the same period of 2023[21]. - The total revenue for the first three quarters of 2024 was CNY 3,019,446,844.56, down from CNY 3,256,898,309.54 in the same period of 2023, representing a decline of 7.3%[26]. - The operating profit for Q3 2024 was CNY 1,634,134,201.49, compared to CNY 1,838,451,800.20 in Q3 2023, reflecting a decrease of 11.1%[23]. - The company's total comprehensive income for Q3 2024 was CNY 1,240,830,629.99, compared to CNY 1,374,572,808.18 in Q3 2023, reflecting a decrease of 9.7%[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥22,815,060,981.39, an increase of 4.95% from the end of the previous year[4]. - The total liabilities as of September 30, 2024, were RMB 8,410,988,542.61, compared to RMB 7,623,858,820.55 at the end of 2023, indicating an increase of 10.3%[21]. - The company's non-current assets totaled RMB 18,051,685,593.76, up from RMB 17,471,549,307.90, representing a growth of 3.3%[21]. - The company's cash and cash equivalents increased to RMB 4,329,738,029.77 from RMB 3,947,533,293.99, reflecting a growth of 9.7%[20]. - The total cash and cash equivalents at the end of Q3 2024 were CNY 1,656,534,430.14, compared to CNY 2,253,471,520.30 at the end of Q3 2023, a decrease of 26.4%[28]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥2,108,725,407.00, a decrease of 6.19% compared to the same period last year[4]. - The cash flow from operating activities for the first three quarters of 2024 was CNY 2,108,725,407.00, down from CNY 2,247,925,294.46 in the same period of 2023, a decline of 6.2%[26]. - The company reported a net cash outflow from investing activities of CNY -308,426,118.97 for the first three quarters of 2024, compared to CNY -1,501,599,695.43 in the same period of 2023[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 15,133[9]. - The largest shareholder, Anhui Provincial Transportation Holding Group Co., Ltd., holds 524,644,220 shares, accounting for 31.63% of the total shares[11]. - The second largest shareholder, HKSCC NOMINEES LIMITED, holds 489,083,879 shares, representing 29.49% of the total shares[11]. - The total number of A-share shareholders is 15,071, while H-share shareholders total 62[11]. Traffic and Toll Revenue - The total traffic volume for the 合宁高速公路 in Q3 2024 is 48,313 vehicles per day, a decrease of 1.01% compared to 48,804 vehicles in Q3 2023[13]. - The toll revenue for the 合宁高速公路 in Q3 2024 is RMB 374,450,000, down 3.18% from RMB 386,749,000 in Q3 2023[13]. - The total toll revenue for all highways in Q3 2024 is RMB 1,018,206,000, a decrease of 5.78% compared to RMB 1,080,709,000 in Q3 2023[13]. - The average daily traffic volume for the 岳武高速安徽段 in Q3 2024 is 15,088 vehicles, an increase of 99.34% from 7,569 vehicles in Q3 2023[13]. - The toll revenue for the 宁宣杭高速公路 in Q3 2024 is RMB 134,770,000, an increase of 54.60% compared to RMB 87,171,000 in Q3 2023[13]. - The total toll revenue for the 205国道天长段新线 in Q3 2024 is RMB 22,529,000, a decrease of 2.23% from RMB 23,043,000 in Q3 2023[13]. Costs and Expenses - Operating costs for the year-to-date increased by 40.59%, primarily due to the rising costs associated with the Xuan Guang expansion PPP project[7]. - The company reported a 39.44% increase in taxes and surcharges for the year-to-date, attributed to the exemption of property tax and urban land use tax in the first half of 2023[7]. - The company incurred financial expenses of CNY 121,270,648.79 in Q3 2024, slightly up from CNY 118,090,613.01 in Q3 2023[23]. - The company reported a significant increase in accounts payable, which rose to RMB 1,316,824,005.34 from RMB 631,684,718.17, reflecting a growth of 108.5%[21]. Investment and Future Plans - The company plans to issue corporate bonds not exceeding RMB 50 billion to optimize its debt structure and fund various projects[19]. - The company has invested RMB 1,328.33 million in the Anhui Traffic Control Investment Fund II as of the report date[17].

一、董事会会议召开情况 （一）安徽皖通高速公路股份有限公司（以下简称"本公司"或"公司"） 于 2024 年 10 月 28 日（星期一）上午在合肥市望江西路 520 号公司会议室以现 场会议和视频会议相结合的方式召开了第十届董事会第四次会议。 （二）会议通知及会议材料分别于 2024 年 10 月 18 日和 2024 年 10 月 21 日 以电子邮件方式发送给各位董事、监事和高级管理人员。 （三）会议应参加董事 9 人，实际参加董事 9 人，全部董事均亲自出席了本 次会议。 （四）会议由董事长汪小文先生主持，监事会成员和高级管理人员列席了会 议。 （五）本次会议的召集和召开符合《公司法》和《公司章程》的规定。 股票代码：600012 股票简称：皖通高速 公告编号：临 2024-027 安徽皖通高速公路股份有限公司 第十届董事会第四次会议决议公告 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相应的法律 责任。 二、董事会会议审议情况 本次会议审议通过了通知中所列的全部事项。有关事项公告如下： （一）审议通过本公司 2024 年第三 ...

股票代码：600012 股票简称：皖通高速 公告编号：临 2024-026 安徽皖通高速公路股份有限公司 关于召开业绩说明会的公告 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相应的法律 责任。 重要内容提示： ● 投资者可于 2024 年 10 月 29 日（星期二）前将相关问题通过电子邮件的 形式发送至公司邮箱：wtgs@anhui-expressway.net。 安徽皖通高速公路股份有限公司（以下简称"公司"）将于 2024 年 10 月 29 日在上海证券交易所网站 （www.sse.com.cn）及香港联合交易所有限公司网站 （www.hkexnews.hk）发布公司 2024 年第三季度报告。根据中国证监会《上市公 司投资者关系管理工作指引》等相关规定，为了便于广大投资者更全面深入地了 解公司 2024 年三季度业绩和经营情况，公司计划于 2024 年 10 月 30 日（星期 三）15:00-16:00 召开业绩说明会，就投资者普遍关心的问题进行交流。 ● 会议召开时间：2024 年 10 月 30 日（星期三）15:0 ...

上 市 公 司 证 券 研 究 报 告 交通运输 2024 年 09 月 19 日 皖通高速 (600012) ——核心路产改扩建快速推进，政策优化利好优质路产运 营商 报告原因：首次覆盖 | --- | --- | |------------------------------------|-------------------------------| | 市场数据： | 2024 年 09 月 18 日 | | 收盘价（元） | 14.55 | | 一年内最高/最低（元） | 16.25/9.71 | | 市净率 | 1.9 | | 息率（分红/股价） | 4.13 | | 流通 A 股市值（百万元） | 16,959 | | 上证指数/深证成指 | 2,717.28/7,992.25 | | 注："息率"以最近一年已公布分红计算 | | | --- | --- | |-------------------------------|-------------------------------| | 基础数据 : | 2024 年 06 月 30 日 | | 每股净资产（元） | 7.52 | | 资产 ...

证券研究报告 ＃industryId＃ 高速 ＃investSuggestion＃ ＃assAuthor＃ ＃ investSug gestionCh ange＃ 维持 ） 买入 ( 公 司 点 评 报 告 | --- | --- | |--------------------------------|-------------------------------------| | ＃市场数据 marketData ＃ | | | 日期 | 2024/9/4 | | 收盘价（元） | 15.99 | | 总股本（百万股） | 1659 | | | | | 流通股本（百万股） | 1166 | | 净资产（百万元） | 12470 | | 总资产（百万元） | 23363 | | 每股净资产（元） 来源： WIND | 7.52 ，兴业证券经济与金融研究院整理 | ＃相关报告 relatedReport＃ 【兴证交运】《皖通高速 2023 年报点评：核心路段潜力释放， 成 长 性 位 于 板 块 前 列 》 2024-04-08 【兴证交运】《皖通高速 2023 年中报点评：核心路段潜力释 放，拟提高分红回报股 ...

股票代码：600012 股票简称：皖通高速 公告编号：临 2024-025 1、请简要介绍一下公司2024年中期的经营情况及未来发展目标。 2024年9月5日，本公司董事长汪小文先生，董事、常务副总经理吴长明先生， 独立董事章剑平先生，财务总监黄宇先生、董事会秘书丁瑜女士及相关人员出席了 本次业绩说明会。公司与投资者进行了互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行了回答。 二、本次会议投资者提出的主要问题及公司的回复情况 公司在本次说明会上就投资者关心的问题给予了回答，主要问题及答复整理如 下： 2024年上半年，面对国内有效需求不足、新旧动能转换存在阵痛、安徽省内恶 劣天气天数较多等不利因素，本公司坚决贯彻落实有关决策部署，迎难而进、真抓 实干，聚焦高速公路主业发展，切实抓好运营管理各项工作，发展质量进一步提 升，总体态势平稳向好。公司运营主要呈现以下特点： 一是发展质效有目共睹。今年上半年，尽管受到宏观环境、恶劣天气以及宣广 高速改扩建等不利因素影响，但公司主要财务指标依然保持稳健，上半年实现营业 收入人民币30.53亿元，利润总额人民币10.84亿元，归属于本公司股东的净利润人 ...

公 司 研 究 皖通高速（600012.SH）：道路施工 致收入短期承压，盈利符合预期 2024 年 9 月 4 日 强烈推荐/维持 皖通高速 公司报告 东 兴 证 券 股 份 有 限 公 司 证 券 研 究 报 告 事件：2024 年上半年公司实现通行费收入 18.62 亿元（税后），同比下降 8.55%， 归母净利 8.10 亿元，同比下降 3.53%，业绩符合预期。 注：公司上半年营收共计 30.53 亿元，同比增长 31.38%，主要系除通行费外还包含 11.21 亿的建造服务收入，但该业务收入与成本相互抵消，对公司盈利不产生影响。 宣广改扩建施工导致收入端短期承压：上半年公司通行费收入同比下降约 1.74 亿元，最主要的原因系宣广、广祠高速施工，自 3 月 8 日实施单向通行，封闭 部分站点，致使通行费下滑明显，其中宣广高速上半年收入 1.13 亿元 （-58.03%），同比减少 1.56 亿元，广祠高速收入 0.30 亿元（-48.44%），同 比减少 0.28 亿元。宣广改扩建已进入尾声，预计年内能够实现全线贯通，收 入增长则主要体现在 2025 年。 其他路段中，宁宣杭高速与岳武高速继续受益于 ...

证券研究报告 非金融公司|公司点评|皖通高速（600012） 天气扰动叠加施工影响，业绩阶段承压 请务必阅读报告末页的重要声明 glzqdatemark1 2024年09月03日 证券研究报告 |报告要点 公司发布 2024 年半年报。2024H1，公司实现营收 30.53 亿元，同比增长 31.38%，实现归母净 利润 8.10 亿元，同比下降 3.53%。其中 2024Q2 公司实现营收 17.66 亿元，同比增长 49.83%， 实现归母净利润 3.50 亿元，同比下降 7.85%。 |分析师及联系人 李蔚 SAC：S0590522120002 请务必阅读报告末页的重要声明 1 / 5 非金融公司|公司点评 glzqdatemark2 2024年09月03日 皖通高速(600012) 天气扰动叠加施工影响，业绩阶段承压 | --- | --- | |----------------------------|--------------------------------| | | | | 行 业： 投资评级： | 交通运输/铁路公路 买入（维持） | | 当前价格： | 15.08 元 | | 基本数据 ...

股票代码：600012 股票简称：皖通高速 公告编号：临 2024-024 安徽皖通高速公路股份有限公司 关于召开业绩说明会的公告 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相应的法律 责任。 重要内容提示： ● 投资者可于 2024 年 9 月 4 日（星期三）前将相关问题通过电子邮件的形 式发送至公司邮箱：wtgs@anhui-expressway.net。 安徽皖通高速公路股份有限公司（以下简称"公司"）将于 2024 年 8 月 31 日 在上海证券交易所网站 （www.sse.com.cn）及香港联合交易所有限公司网站 （www.hkexnews.hk）发布公司 2024 年半年度报告及中期业绩公告。根据中国证 监会《上市公司投资者关系管理工作指引》等相关规定，为了便于广大投资者更 全面深入地了解公司 2024 年半年度业绩和经营情况，公司计划于 2024 年 9 月 5 日（星期四）10:00-11:00 召开业绩说明会，就投资者普遍关心的问题进行交流。 一、业绩说明会类型 ● 会议召开时间：2024 年 9 月 5 日 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2024, representing a year-on-year increase of 15%[11]. - The net profit attributable to shareholders reached RMB 300 million, up 20% compared to the same period last year[11]. - The company's operating revenue for the first half of 2024 reached ¥3,052,974,249.87, representing a 31.38% increase compared to ¥2,323,838,937.32 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 3.53% to ¥809,871,026.64 from ¥839,500,426.23 year-on-year[18]. - The basic earnings per share for the first half of 2024 was ¥0.4883, down 3.53% from ¥0.5061 in the previous year[19]. - The total profit for the period was RMB 1,084,474 thousand, a decrease of 7.45% from RMB 1,171,790 thousand in the previous year[34]. - The company achieved a significant increase in construction service revenue, amounting to RMB 1,121,347,935.21, a 374.80% increase compared to RMB 236,174,410.82 in the first half of 2023[44]. - The company reported a total operating income of RMB 3,052,974,249.87 for the first half of 2024, representing a 31.38% increase compared to RMB 2,323,838,937.32 in the same period of 2023[41]. - The total comprehensive income for the first half of 2024 was ¥822,955,724.03, slightly down from ¥846,055,809.80 in the previous year[141]. Traffic and Operations - User traffic on the expressways increased by 10% year-on-year, with a total of 25 million vehicles recorded during the reporting period[11]. - The average daily traffic flow for the Hening Expressway in the first half of 2024 was 45,301 trips, a decrease of 3.30% from 46,848 trips in the same period of 2023[37]. - The total traffic volume for the Ninghuai Expressway segment decreased by 9.08% to 41,902 trips in the first half of 2024 compared to 46,086 trips in the same period of 2023[37]. - The company plans to expand its expressway network by 200 kilometers by the end of 2025, focusing on high-traffic regions[11]. - The company has a total operational mileage of approximately 609 kilometers and total assets of about RMB 23,362,607 thousand as of June 30, 2024[29]. Investments and Expansion - The company plans to invest RMB 386 million in the expansion of the Xuanguang Expressway, with all contributions completed by the end of March 2024[33]. - The company completed a significant non-equity investment in the Xuan Guang Expressway expansion PPP project, with an investment amount of RMB 1.121 billion during the reporting period, bringing the cumulative investment to RMB 5.014 billion[59]. - The company has allocated RMB 100 million for research and development of new road safety technologies in 2024[11]. - The company has established a smart operation command center and launched the "Wanmei Highway Brain" system to improve network monitoring and control capabilities[33]. Financial Position - The total assets increased by 7.47% to ¥23,362,606,972.27 from ¥21,738,743,118.83 at the end of the previous year[19]. - The total liabilities rose by 23.50% to ¥9,424,248,000 from ¥7,631,261,000 at the end of the previous year[28]. - The net cash flow from operating activities was ¥1,436,551,361.31, a slight increase of 0.59% compared to ¥1,428,122,285.48 in the same period last year[18]. - The company's gross profit margin for toll road operations was 60.49%, a decrease of 3.51 percentage points compared to the previous year[45]. - The company's accounts payable increased by 52.15% to RMB 961,086,382.95, primarily due to increased construction payables[53]. Risk Management and Compliance - The management highlighted potential risks related to regulatory changes in the transportation sector[5]. - The company aims to enhance operational management and reduce costs through refined management practices in response to policy execution challenges[66]. - The company will continue to monitor macroeconomic conditions and adjust strategies to mitigate risks associated with economic fluctuations[67]. - The company has not reported any significant related party transactions during the reporting period[116]. Employee and Governance - As of June 30, 2024, the company employed 1,922 personnel, an increase from 1,910 in the previous year, with total employee compensation amounting to RMB 232.9 million, up from RMB 212.5 million in the same period last year[82]. - The company has implemented a performance assessment system to link employee compensation with job value and performance, enhancing motivation and effectiveness[82]. - The new board of directors and supervisory board members were elected on June 6, 2024, with a three-year term starting from the same date[79]. Environmental Initiatives - The company has implemented comprehensive internal systems to manage noise, waste gas, wastewater, waste, and carbon emissions in compliance with national environmental laws and regulations[85]. - The company has promoted the use of environmentally friendly de-icing agents to minimize pollution to water sources and soil during winter[89]. - The company has organized various energy-saving and low-carbon promotional activities, aligning with national themes to enhance public awareness of ecological protection[94]. - The company has committed to continuous improvement of roadside environments through regular maintenance and cleaning of green spaces along highways[92]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 17,867[121]. - The largest shareholder, Anhui Transportation Holding Group Co., Ltd., holds 524,644,220 shares, representing 31.63% of the total shares[122]. - The company has not proposed any profit distribution or capital reserve transfer for the half-year period, with no shares or dividends allocated[80]. - The company has submitted the bond issuance application materials to the Shanghai Stock Exchange for review as of August 8, 2024[119].