证券代码：600012 证券简称：皖通高速 公告编号：2023-032 安徽皖通高速公路股份有限公司 关于取消并择日另行召开 2023 年第一次临时股东大 会、2023 年第一次 A 股类别股东大会及 2023 年第一 次 H 股类别股东大会的公告 特别提示 2. 取消股东大会的召开日期：2023 年 8 月 18 日 3. 取消的股东大会的股权登记日 安徽皖通高速公路股份有限公司（以下简称"公司"）于 2023 年 7 月 26 日发 布了《关于召开 2023 年第一次临时股东大会、2023 年第一次 A 股类别股东大会 及 2023 年第一次 H 股类别股东大会的通知》，公司原定于 2023 年 8 月 18 日召 开 2023 年第一次临时股东大会、2023 年第一次 A 股类别股东大会及 2023 年第 一次 H 股类别股东大会审议公司发行股份及支付现金购买安徽省六武高速公路 有限公司 100%股权并募集配套资金（以下简称"本次交易"），以及公司未来现金 分红特别安排等相关事宜。 根据《上市公司国有股权监督管理办法》规定，国有股东与上市公司资产重 组方案经上市公司董事会审议通过后，应当在上市公司股东大 ...

股票代码：600012 股票简称：皖通高速 公告编号：临 2023-019 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： ● 会议召开时间：2023 年 5 月 26 日（星期五）15:00-16:00 ● 会议召开方式：电话会议 ● 投资者可于 2023 年 5 月 23 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"）分别于 2023 年 3 月 31 日、4 月 28 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 2022 年年度报告及 2023 年一季度报 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2022年度及2023年一季度业绩和经营情况， 公司计划于 2023 年 5 月 26 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,145,086,806.22, representing an increase of 18.51% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company was CNY 459,462,788.58, reflecting a growth of 13.15% year-on-year[4] - Basic earnings per share for the period was CNY 0.2770, which is a 13.15% increase from the same quarter last year[5] - Total revenue for Q1 2023 reached ¥1,145,086,806.22, a 18.5% increase from ¥966,250,859.11 in Q1 2022[23] - Net profit for Q1 2023 was ¥478,671,148.35, up 18.2% compared to ¥404,833,684.13 in Q1 2022[25] - Operating profit for Q1 2023 was ¥649,180,536.06, an increase of 20.8% from ¥537,408,000.28 in Q1 2022[25] Cash Flow - The net cash flow from operating activities reached CNY 1,029,461,546.80, showing a significant increase of 93.23% compared to the previous year[4] - Cash flow from operating activities in Q1 2023 was ¥1,646,294,503.14, significantly higher than ¥1,035,531,771.59 in Q1 2022[26] - The net cash flow from operating activities for Q1 2023 was approximately $1.03 billion, a significant increase from $532.77 million in Q1 2022, representing a growth of 93%[27] - Total cash inflow from operating activities amounted to $1.65 billion, compared to $1.04 billion in the same period last year, indicating a year-over-year increase of 58.7%[27] - The ending cash and cash equivalents balance was approximately $2.96 billion, down from $3.61 billion at the end of Q1 2022, a decrease of 18%[27] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 21,687,721,940.73, up by 1.80% from the end of the previous year[5] - Total assets as of March 31, 2023, amounted to ¥21,687,721,940.73, compared to ¥21,303,368,819.17 at the end of 2022[22] - Total liabilities decreased to ¥7,703,363,781.00 from ¥7,798,806,600.25 at the end of 2022, reflecting a reduction of 1.2%[22] - The company's total equity increased to ¥13,984,358,159.73 as of March 31, 2023, compared to ¥13,504,562,218.92 at the end of 2022[22] Traffic and Toll Revenue - The company reported an increase in toll revenue, which contributed to the rise in cash flow from operating activities[8] - In Q1 2023, the average daily traffic on the G205 National Road Tianchang section increased by 51.96% to 7,162 vehicles compared to Q1 2022[13] - The total toll revenue for the G205 National Road Tianchang section rose by 79.74% to RMB 20,093,000 in Q1 2023 from RMB 11,179,000 in Q1 2022[13] - The total toll revenue across all projects in Q1 2023 reached RMB 1,112,082,000, marking a 13.70% increase from RMB 978,098,000 in Q1 2022[14] - The average daily traffic on the Hehui Expressway increased by 30.53% to 50,444 vehicles in Q1 2023 compared to 38,646 vehicles in Q1 2022[13] - The toll revenue for the Hehui Expressway increased by 18.19% to RMB 361,079,000 in Q1 2023 from RMB 305,501,000 in Q1 2022[13] - The company reported a 10.95% increase in average daily traffic on the Ninghuai Expressway Tianchang section, reaching 48,223 vehicles in Q1 2023[14] Government Support and Policies - The company received government subsidies amounting to CNY 3,562,031.87, related to highway construction projects[6] - The company implemented various policy-based fee reductions totaling RMB 175 million in Q1 2023, including RMB 31 million for green channel vehicles[16] - The company continues to offer an 85% discount policy for trucks holding Anhui transportation cards, which has been effective since July 2016[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,350, with the largest shareholder holding 31.63% of the shares[9] Acquisition Plans - The company plans to acquire 100% equity of Anhui Liwu Expressway Co., Ltd. for an estimated price not exceeding RMB 4 billion through a combination of issuing A-shares and cash[20] - The company's A-shares were suspended from trading on April 3, 2023, due to the pending acquisition, and resumed trading on April 18, 2023[20] Non-Operating Income and Expenses - Non-operating income and expenses resulted in a total loss of CNY 10,028,353.80, primarily due to fair value losses on financial assets[6] Accounting Standards - The company did not apply new accounting standards for the first quarter of 2023[28]

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,145,086,806.22, representing an increase of 18.51% compared to the same period last year[3]. - Net profit attributable to shareholders for the same period was CNY 459,462,788.58, reflecting a growth of 13.15% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was CNY 469,491,142.38, which is an increase of 14.89% compared to the previous year[3]. - Basic earnings per share for Q1 2023 were CNY 0.2770, up by 13.15% from the same period last year[3]. - Operating profit for Q1 2023 was CNY 649,180,536.06, representing a 20.8% increase compared to CNY 537,408,000.28 in Q1 2022[24]. - The company reported a decrease in other comprehensive income, with a net amount of CNY -3,565,177.16 in Q1 2023 compared to CNY 101,481.20 in Q1 2022[25]. Cash Flow - The net cash flow from operating activities reached CNY 1,029,461,546.80, showing a significant increase of 93.23% year-on-year[3]. - Cash flow from operating activities for Q1 2023 was CNY 1,029,461,546.80, significantly higher than CNY 532,774,016.77 in Q1 2022[27]. - The company received cash from financing activities totaling $80 million, a significant decrease from $943.33 million in Q1 2022[28]. - The net cash flow from financing activities in Q1 2023 was -$6 million, compared to a positive $812.94 million in the same period last year[28]. - Cash and cash equivalents at the end of Q1 2023 amounted to approximately $2.96 billion, down from $3.61 billion in Q1 2022[28]. - The net increase in cash and cash equivalents for Q1 2023 was approximately $57.27 million, down from $250.63 million in Q1 2022[28]. Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 21,687,721,940.74, a 1.80% increase from the end of the previous year[3]. - The total amount of current assets was RMB 6.056 billion, an increase from RMB 5.214 billion as of December 31, 2022, representing a growth of approximately 16.2%[19]. - The total liabilities as of March 31, 2023, were RMB 7.703 billion, a slight decrease from RMB 7.799 billion as of December 31, 2022[21]. - The company's total equity increased to CNY 13,984,358,159.73 as of March 31, 2023, from CNY 13,504,562,218.92 at the end of 2022[22]. Traffic and Toll Revenue - The average daily traffic flow for the Huning Expressway increased by 30.53% to 50,444 vehicles in Q1 2023 compared to 38,646 vehicles in Q1 2022[13]. - Toll revenue for the Huning Expressway rose by 18.19% to RMB 361,079,000 in Q1 2023 from RMB 305,501,000 in Q1 2022[13]. - The new section of National Highway 205 saw a 51.96% increase in average daily traffic flow, reaching 7,162 vehicles in Q1 2023[13]. - Toll revenue for the new section of National Highway 205 surged by 79.74% to RMB 20,093,000 in Q1 2023 from RMB 11,179,000 in Q1 2022[13]. - The total average daily traffic flow across all reported expressways was 1,112,082 vehicles in Q1 2023, a 13.70% increase from 978,098 vehicles in Q1 2022[13]. - The company reported a total toll revenue of RMB 1,112,082,000 for Q1 2023, reflecting a significant increase compared to the previous year[13]. Shareholder Information - The company has a total of 22,285 A-share shareholders and 65 H-share shareholders as of the reporting period[12]. - The top ten shareholders hold a significant portion of the company's shares, with the largest shareholder owning 31.63%[11]. Government Subsidies and Discounts - Non-operating income included government subsidies amounting to CNY 3,562,031.87, related to highway construction funding[4]. - The total amount of policy-related fee reductions during the first quarter of 2023 was RMB 175 million, including RMB 31 million for approximately 37,200 vehicles in the green channel[14]. - During the Spring Festival, the flow of small passenger vehicles (7 seats and below) on the group's managed routes reached 1.6962 million, resulting in a fee exemption of approximately RMB 73 million[14]. - The ETC discount amounted to RMB 67 million, with RMB 37 million attributed to the Anhui transportation card for trucks, accounting for 55.22% of the total ETC reductions[14]. - The company plans to extend the 15% discount policy for trucks holding Anhui transportation cards for an additional three years, from January 1, 2021, to December 31, 2023[15]. - The company has signed a cooperation agreement to subsidize small passenger vehicles with specific license plates for toll exemptions on the Anqing Yangtze River Highway Bridge, with a subsidy of RMB 21 per trip[16]. Acquisition Plans - The estimated price for acquiring 100% equity of Anhui Liwu Expressway Co., Ltd. is expected to be no more than RMB 4 billion, with the company planning to issue A-shares and pay cash for this transaction[17].

Financial Performance - The net profit for the year 2022, according to Chinese accounting standards, was RMB 1,525,975 thousand, while under Hong Kong accounting standards, it was RMB 1,514,040 thousand[26]. - The total distributable profit for shareholders for 2022 is RMB 1,514,040 thousand, which is the lower amount calculated under both accounting standards[26]. - Net profit attributable to shareholders for 2022 was CNY 1,445,017,073.40, a decrease of 4.57% from CNY 1,514,167,905.95 in 2021[41]. - The total profit for the year was RMB 1,976.93 million, a decrease of 6.71% from RMB 2,119.13 million in the previous year[71]. - Basic earnings per share for 2022 were CNY 0.8712, a decrease of 4.57% from CNY 0.9129 in 2021[43]. - The weighted average return on net assets for 2022 was 12.48%, a slight decrease of 0.1 percentage points from 12.58% in 2021[43]. - The company reported a total liability of CNY 7,808,394,000 in 2022, compared to CNY 7,985,646,000 in 2021[45]. - The company achieved a total operating revenue of RMB 5,206.37 million in the reporting period, representing a year-on-year increase of 32.78% compared to RMB 3,920.96 million in 2021[71]. - Operating revenue increased by 32.78% to CNY 5,206,366,427.90 from CNY 3,920,958,228.02 in the previous year[85]. - The group achieved toll revenue of RMB 3,676,379 thousand, a decrease of 4.04% compared to RMB 3,831,092 thousand in the previous year[72]. Dividends and Shareholder Returns - The proposed cash dividend is RMB 5.5 per 10 shares, totaling RMB 912,235.50 thousand, based on a total share capital of 1,658,610,000 shares[26]. - The total retained earnings available for distribution to shareholders as of December 31, 2022, amounted to RMB 9,865,178 thousand, an increase from RMB 9,263,334 thousand in 2021[133]. - The company's undistributed profits calculated under Chinese accounting standards reached RMB 10,323,407 thousand as of December 31, 2022, compared to RMB 9,709,667 thousand in 2021[133]. - The company has distributed cash dividends totaling approximately RMB 7.503 billion since its listing, with a cumulative dividend per share of RMB 4.5575[154]. - The proposed cash dividend for the current year is RMB 0.55 per share, resulting in a payout ratio of 63.13%[154]. Risk Management and Compliance - The report includes a detailed description of existing risk factors and future development strategies, urging investors to be aware of investment risks[27][29]. - The company emphasizes the importance of rational investment and awareness of risks in its forward-looking statements[27]. - The company has implemented a comprehensive emergency response plan, enhancing its emergency response capabilities significantly[60]. - The company is actively addressing policy risks related to toll road operations, which are subject to government regulations and potential changes in toll pricing policies[126]. - The company faces risks associated with the expiration of operating rights for toll roads, which could impact sustainable development if not supplemented by new projects[127]. - The company has established a comprehensive risk management approach, including quarterly risk inspection reports to analyze risk response measures[155]. - The company has complied with significant laws and regulations affecting its operations during the reporting period[157]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[25]. - The board of directors consists of 9 members, including 4 executive directors, 2 non-executive directors, and 3 independent directors[146]. - The independent directors hold a majority in the audit committee and the human resources and remuneration committee, ensuring compliance with governance standards[146]. - The company has conducted 8 supervisory board meetings during the reporting period, with all supervisors present[147]. - The company has maintained a strict insider information management system, with no incidents of insider trading reported during the year[150]. - The company emphasizes the importance of internal audit and control, focusing on risk prevention and management, with a successful risk control situation reported for 2022[155]. - The company is committed to improving corporate governance and compliance management to enhance overall operational efficiency[125]. Operational Highlights - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[46]. - The company successfully connected the Ningxuanhang Expressway with Jiangsu and Zhejiang provinces, enhancing operational capabilities[58]. - The company established an AI-integrated inspection platform to promote intelligent and precise auditing[58]. - The company launched the "Anhui Beautiful Highway" travel service system, which includes a framework of "1 system, 3 supports, 5 carriers, and 100 working methods" to improve service quality[61]. - The company has established a mature highway management system over nearly 27 years, characterized by low management costs and high operational efficiency[69]. - The company is focusing on integrating smart transportation and digitalization to expand its main business scale and drive transformation[65]. Investment and Growth Strategies - The company anticipates continued investment growth in highway infrastructure, driven by economic development and supportive government policies, despite challenges in the toll road industry[103]. - The company completed a significant investment of RMB 1.41755 billion in the Xuan Guang expansion PPP project during the reporting period[110]. - The company successfully subscribed to the Anhui Expressway REITs project with an investment amount of RMB 423.232 million, accounting for 3.89% of the total fund shares[111]. - The company is actively pursuing strategic opportunities in the Yangtze River Delta integration initiative[109]. - The company is focusing on deepening reforms and innovation development in response to favorable policies for state-owned enterprises[106]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 1,972[198]. - The number of production personnel is 1,292, while sales personnel count is 0[199]. - The educational background of employees includes 81 with postgraduate degrees, 560 with bachelor's degrees, and 862 with associate degrees[200]. - The management team includes professionals with advanced degrees and certifications, ensuring a high level of expertise in financial and operational management[174]. - The company appointed Wu Changming as Deputy General Manager and Secretary of the Board in June 2022, with extensive experience in legal affairs and management within the transportation sector[172]. Financial Position and Debt Management - The net cash flow from operating activities for 2022 was RMB 1,937,699,977.46, down 7.60% from RMB 2,097,060,846.01 in 2021, primarily due to a decrease in toll revenue[98]. - The net cash flow from investing activities for 2022 was RMB -2,477,041,910.04, compared to RMB 200,183,936.09 in 2021, mainly due to capital expenditures for the expansion of Xuanguang[98]. - The group obtained bank loans totaling RMB 1.993 billion during the reporting period, compared to RMB 3.778 billion in 2021, with a remaining bank loan balance of RMB 6.644 billion as of the end of the reporting period[134]. - The capital debt ratio at the end of 2022 was 22.08%, an increase from 14.96% in 2021, according to Hong Kong accounting standards[135]. - The group has fixed-rate bank loans of RMB 380 million with an annual interest rate of 1.2%, while floating-rate loans range from 3.05% to 4.90%[134].

Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 5,206,366 thousand, an increase of 29.2% compared to RMB 4,029,476 thousand in 2021[2] - Operating profit for the same period was RMB 2,194,606 thousand, down 7.4% from RMB 2,371,088 thousand in 2021[2] - Net profit attributable to the owners of the company was RMB 1,445,457 thousand, a decrease of 4.4% from RMB 1,511,965 thousand in 2021[2] - Basic and diluted earnings per share for 2022 were RMB 0.8715, compared to RMB 0.9116 in 2021[2] - Total revenue for the year ended December 31, 2022, was RMB 5,206,366, an increase from RMB 4,029,476 in 2021, representing a growth of approximately 29.2%[13] - Toll revenue decreased to RMB 3,676,379 in 2022 from RMB 3,831,092 in 2021, reflecting a decline of about 4.0%[13] - Revenue from construction and renovation services under franchise arrangements surged to RMB 1,417,554 in 2022, up from RMB 108,518 in 2021, marking a significant increase of approximately 1205.5%[13] - The total profit for the year was RMB 1,976,932 thousand, a decrease of 6.71% from RMB 2,119,127 thousand in the previous year[35] - Net profit attributable to shareholders was RMB 1,445,017 thousand, down 4.57% from RMB 1,514,168 thousand in 2021[35] - Basic earnings per share for 2022 was RMB 0.8715, down from RMB 0.9116 in 2021, indicating a decrease of about 4.9%[22] Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 21,345,566 thousand, an increase of 6.9% from RMB 19,965,469 thousand in 2021[6] - Non-current assets, including toll road operating rights, were RMB 13,497,875 thousand, up from RMB 13,207,681 thousand in 2021[5] - Cash and cash equivalents decreased to RMB 2,903,848 thousand from RMB 3,359,918 thousand in 2021[5] - Total liabilities as of December 31, 2022, were RMB 7,808,394 thousand, a slight decrease from RMB 7,985,646 thousand in 2021[7] - The company’s total liabilities decreased to RMB 1,977,818 million in 2022 from RMB 2,116,190 million in 2021, indicating a reduction of approximately 6.6%[20] Tax and Expenses - Total tax expenses for the year were RMB 562,194 million, slightly lower than RMB 573,077 million in the previous year, reflecting a decrease of approximately 1.5%[17] - The company reported a deferred tax expense of RMB 23,220 million for 2022, compared to a deferred tax benefit of RMB 17,833 million in 2021[17] - Interest expenses for the year increased to RMB 214,432 in 2022 from RMB 143,159 in 2021, representing a rise of about 49.8%[15] - Employee benefits expenses, including salaries and social security, increased to RMB 430,281 million in 2022 from RMB 401,274 million in 2021, marking an increase of approximately 7.2%[22] Dividends and Retained Earnings - The proposed final dividend for 2022 is RMB 0.55 per share, totaling RMB 912,236 million, consistent with the previous year's dividend[23][24] - The company’s retained earnings increased to RMB 9,611,890 thousand from RMB 9,078,629 thousand in 2021[6] Operational Performance - The company recorded a loss of RMB 8,286 million from the sale of toll road concessions in 2022, compared to a gain of RMB 4,173 million in 2021[20] - The company noted that the operational performance of toll roads was affected by competitive road network changes and parallel road expansions[40] - The company anticipates continued impacts from various policy exemptions and external factors on toll revenue in the upcoming periods[43] - The company reported a significant impact on toll revenue due to construction on the Anhui section of the G4221 highway, leading to a shift of some vehicles to national roads[51] Investments and Projects - The company successfully implemented the PPP project for the expansion of the Xuanguang Highway, enhancing its asset scale and overall competitiveness[57] - The company’s investment in Ningxuanhang Company improved its financing capacity and reduced credit risk, benefiting the overall strategic development[57] - The company’s investment in the Anhui Expressway REITs project further strengthened its competitive edge and profitability[57] - The company completed a significant investment of RMB 1.41755 billion in the PPP project during the reporting period[59] - The company agreed to subscribe up to RMB 500 million for the Anhui Expressway REITs, acquiring 3.89% of the total fund shares, with a final subscription amount of RMB 423.232 million confirmed[59] Governance and Compliance - The audit committee held five meetings in 2022, reviewing the company's financial reports and internal control evaluations[67] - The company’s governance structure was improved by revising 12 internal regulations to enhance operational efficiency and compliance with legal standards[66] Market and Economic Conditions - The toll road industry faces challenges such as slowing economic growth limiting toll revenue, rising construction and operational costs, and increasing management costs due to various policy exemptions[79][80] - The company anticipates continued growth in highway infrastructure investment, driven by the integration of the Yangtze River Delta and the construction strategy for a strong transportation nation, indicating significant investment opportunities in Anhui province[78] Future Outlook - The company emphasizes the integration of information technology, artificial intelligence, new materials, and new energy into the transportation industry[82] - The focus for the next phase of highway information development is on smart leadership and the integration of infrastructure networks, transportation service networks, and information networks[82] - The aim is to expand resource sharing, enhance user experience, and improve organizational efficiency[82] - The company is committed to transitioning from traditional factor-driven development to innovation-driven development[82]

Financial Performance - The company's net profit for 2022, according to Chinese accounting standards, was RMB 1,525,975 thousand, while the profit under Hong Kong accounting standards was RMB 1,514,040 thousand[5]. - The distributable profit for shareholders for 2022 is RMB 1,514,040 thousand, leading to a proposed cash dividend of RMB 5.5 per 10 shares, totaling RMB 912,235.50 thousand[5]. - The company's operating revenue for 2022 was CNY 5,206,366,427.90, representing a 32.78% increase compared to CNY 3,920,958,228.02 in 2021[20]. - Net profit attributable to shareholders for 2022 was CNY 1,445,017,073.40, a decrease of 4.57% from CNY 1,514,167,905.95 in 2021[20]. - The total profit for the year was RMB 1,976.93 million, a decrease of 6.71% from RMB 2,119.13 million in the previous year[49]. - The net profit after deducting non-recurring gains and losses was CNY 1,424,748,352.88, which is a 4.55% increase from CNY 1,362,706,570.12 in 2021[20]. - Basic earnings per share for 2022 were CNY 0.8712, a decrease of 4.57% from CNY 0.9129 in 2021[21]. - The weighted average return on equity for 2022 was 12.48%, a slight decrease of 0.1 percentage points from 12.58% in 2021[21]. Dividend Policy - The company has maintained a high cash dividend policy, which has garnered strong support from investors[48]. - The company has continuously distributed cash dividends for 26 years since its listing, adhering to its cash dividend policy[160]. - The company has implemented a cash dividend distribution plan in 2021, committing to distribute at least 60% of the net profit attributable to shareholders in cash over the next three years[161]. - In 2021, the total cash dividend distributed amounted to RMB 912,235,500, which represents 63.13% of the net profit attributable to shareholders for the year[164]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[4]. - The company has not violated any decision-making procedures regarding external guarantees[7]. - The company has not identified any insider trading incidents related to sensitive information disclosure during the reporting period[113]. - The internal control system was optimized in 2021, and the trial operation was completed in 2022, with ongoing risk assessments and adjustments made based on internal and external changes[118]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team to enhance decision-making efficiency[105]. Operational Highlights - The company successfully implemented the PPP project for the expansion of the Xuanguang highway, enhancing its operational capacity[34]. - The company completed the national highway network technical condition monitoring in Anhui, receiving high praise for its maintenance management results[35]. - The company launched an integrated AI inspection platform to improve operational efficiency and accuracy in auditing[34]. - The company achieved a significant improvement in road safety management, completing emergency response plans and enhancing its emergency response capabilities[36]. - The company is focusing on expanding its main business scale and promoting transformation, leveraging opportunities from national strategies and technological advancements[38]. Challenges and Risks - The company faces challenges such as a slowdown in traffic growth and uncertainties from policy changes affecting toll revenue, which constitutes over 90% of its income[42]. - The company acknowledges potential policy risks related to highway toll pricing and regulatory changes that could impact revenue generation[100]. - The toll road industry is sensitive to macroeconomic fluctuations, with road transport volume closely linked to GDP, which may impact the company's performance[102]. Investments and Strategic Initiatives - The company completed a significant equity investment in Xuanguang Company, amounting to RMB 599,158,940, acquiring a 55.47% stake[87]. - The company successfully subscribed to the Anhui Expressway REITs project with an investment of RMB 423,232,000, representing 3.89% of the total fund shares[89]. - The company plans to enhance toll service quality by implementing a standardized service system and improving road maintenance and safety measures[99]. - The company is focusing on the integration of information technology and transportation, emphasizing smart infrastructure and service networks[86]. Social Responsibility and Environmental Initiatives - The company has emphasized social responsibility, adhering to laws and regulations while creating value for shareholders and stakeholders[119]. - The company has actively pursued green initiatives, including the construction of photovoltaic projects to promote energy efficiency[175]. - The company invested 698.36 million CNY in poverty alleviation and rural revitalization projects, with 690 million CNY allocated as funds and 8.36 million CNY as material donations, benefiting 3,717 individuals[180][181]. - The company received the "National Civilized Unit" title in 2022 for its social responsibility efforts, which were recognized by major media outlets[179]. Employee and Management - The total number of employees in the parent company is 1,362, and the total number of employees in major subsidiaries is 610, resulting in a combined total of 1,972 employees[154]. - The company has established an enterprise annuity plan, contributing RMB 19.19 million in 2022 to incentivize employee retention[158]. - The total remuneration for directors, supervisors, and senior management was RMB 4.5607 million[137]. - The company has implemented a training plan for employees, focusing on enhancing management, skills, and professional knowledge[159]. Future Outlook - The company achieved a total toll revenue target of approximately RMB 3.978 billion for 2023, compared to RMB 3.676 billion in 2022, indicating a growth expectation of about 8.2%[98]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.65 billion[128]. - The company plans to expand its market presence in three new provinces, aiming for a 30% increase in market share by 2025[133].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,168,872,488.46, representing a 15.05% increase compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 507,311,867.65, reflecting a 7.37% increase year-over-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 491,441,943.72, which is a 30.41% increase compared to the previous year[3]. - The basic earnings per share for the quarter was CNY 0.3059, a 7.37% increase from the same period last year[3]. - Total operating revenue for the first three quarters of 2022 reached ¥3,985,124,852.71, a 36% increase from ¥2,930,829,385.08 in the same period of 2021[28]. - Net profit for the first three quarters of 2022 was ¥1,150,997,031.16, down 9.5% from ¥1,272,044,569.30 in 2021[28]. - Operating profit decreased to ¥1,579,087,329.85, compared to ¥1,713,333,476.28 in the previous year, reflecting a decline of 7.8%[28]. - Basic earnings per share for the first three quarters of 2022 was ¥0.7074, compared to ¥0.7463 in 2021, indicating a decrease of 5.4%[30]. - Total comprehensive income for the first three quarters of 2022 was ¥1,151,423,975.26, down from ¥1,272,374,945.52 in the same period of 2021[30]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 21,587,979,383.56, showing an 8.37% increase from the end of the previous year[7]. - As of September 30, 2022, the company's total assets amounted to RMB 21.59 billion, an increase from RMB 19.92 billion as of December 31, 2021, reflecting a growth of approximately 8.4%[24]. - The company's current assets reached RMB 5.74 billion, up from RMB 4.48 billion in the previous year, indicating a growth of about 28.5%[25]. - The total liabilities of the company as of September 30, 2022, were RMB 8.58 billion, compared to RMB 7.98 billion at the end of 2021, representing an increase of approximately 7.3%[26]. - The company's equity attributable to shareholders increased to RMB 11.65 billion from RMB 11.39 billion, marking a growth of around 2.3%[26]. - The company has successfully reduced its current liabilities to RMB 1.80 billion from RMB 2.80 billion, indicating a decrease of about 35.5%[26]. Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was CNY 1,769,476,114.56, an increase of 5.81% compared to the previous year[3]. - The company reported a net cash flow from operating activities of ¥1,769,476,114.56, an increase from ¥1,672,318,792.19 in the same period last year[31]. - Cash and cash equivalents at the end of the period totaled ¥2,768,327,975.10, down from ¥3,913,760,011.51 at the end of the previous year[33]. - The company reported a total operating cost of ¥2,454,601,011.86, which is a significant increase from ¥1,288,955,502.95 in the previous year[28]. - The company’s financial expenses decreased to ¥112,683,017.19 from ¥134,379,685.52 in the previous year, showing a reduction of approximately 16%[28]. - The company’s investment activities resulted in a net cash outflow of ¥2,711,389,017.74, compared to a net outflow of ¥75,715,315.49 in the same period last year[31]. - The company has committed to invest up to RMB 500 million in the Anhui Expressway REITs, representing a strategic move to enhance its investment portfolio[19]. - The company plans to hold its investment in the infrastructure fund for no less than 36 months, ensuring a long-term commitment to its investment strategy[20]. Revenue and Traffic Data - The average daily traffic volume for 合宁高速公路 in Q3 2022 was 37,424 vehicles, an increase of 3.38% compared to Q3 2021[14]. - Toll revenue for 合宁高速公路 in Q3 2022 was RMB 316,539,000, up 3.26% from RMB 306,555,000 in Q3 2021[14]. - The total toll revenue for all projects in Q3 2022 was RMB 1,016,452,000, a decrease of 0.88% from RMB 1,025,475,000 in Q3 2021[14]. - For the first nine months of 2022, total toll revenue was RMB 2,852,147,000, down 3.49% from RMB 2,955,159,000 in the same period of 2021[15]. - The traffic volume for 宁淮高速公路天长段 in Q3 2022 was 41,523 vehicles, an increase of 27.45% compared to Q3 2021[14]. - The average daily traffic volume for 205国道天长段新线 in Q3 2022 was 6,961 vehicles, with toll revenue of RMB 23,593,000, reflecting a significant increase of 44.84% compared to the previous year[14]. - The company reported that the National Day holiday free passage policy for small passenger vehicles resulted in approximately 1,195,300 vehicles passing through its toll roads, leading to a revenue loss of about RMB 51,398,800[17]. - The company noted that the traffic data excludes small passenger vehicles during major holidays, which may affect overall traffic volume reporting[16]. Government Subsidies and Policies - The company received government subsidies amounting to CNY 13,815,144.50 during the quarter, primarily related to infrastructure projects[8]. - A temporary reduction of 10% in toll fees for freight trucks will be implemented from October 1, 2022, to December 31, 2022, in line with national policies[23]. - The company has received approval for a 30-year toll operation period for the Ningshao Expressway from December 30, 2017, to December 29, 2047, extending its revenue-generating capacity significantly[22]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 23,335, with the top ten shareholders holding a combined 86.77% of shares[11]. - HKSCC NOMINEES LIMITED held 524,644,220 shares, representing 31.63% of total shares, while 招商局公路网络科技控股股份有限公司 held 488,209,899 shares, or 29.43%[12].

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[10]. - The net profit attributable to shareholders was RMB 300 million, up 10% compared to the same period last year[10]. - The company's operating revenue for the first half of the year reached CNY 2,816,252,364.25, representing a 47.07% increase compared to the same period last year[18]. - Net profit attributable to shareholders was CNY 665,973,527.50, a decrease of 12.98% from the previous year[18]. - The company's revenue for the six months ended June 30, 2022, was RMB 2,816,252,000, representing a 44.59% increase compared to RMB 1,947,814,000 in the same period of 2021[28]. - The company's profit attributable to equity holders for the same period was RMB 667,510,000, a decrease of 12.66% from RMB 764,241,000 in 2021[28]. - The total profit decreased by 12.43% to RMB 920,292 thousand from RMB 1,050,880 thousand in the previous year[34]. - The company achieved operating revenue of RMB 2,816,252,364.25, a significant increase of 47.07% compared to RMB 1,914,863,814.09 in the same period last year[53]. - The company reported a decrease in traffic and revenue for the HeNing Expressway due to the impact of the COVID-19 pandemic in March 2022[41]. Traffic and Operations - User traffic on the expressways increased by 20% year-on-year, indicating a recovery in travel demand[10]. - The average daily traffic volume decreased by 9.38% to 32,868 vehicles compared to 36,271 vehicles in the same period of 2021[37]. - The overall traffic flow on the G50 highway increased due to a rise in passenger vehicle traffic during the Spring Festival, despite pandemic impacts in the second quarter[44]. - The company experienced a 31.36% year-on-year increase in the flow of Class 6 trucks during the first half of 2022, compensating for the overall traffic decline[43]. - The company reported a significant decline in traffic flow due to strict pandemic control measures, particularly affecting the Ningxuanhang Expressway[47]. Investments and Expansion Plans - The company plans to expand its expressway network by 200 kilometers over the next two years, enhancing connectivity in the region[10]. - The company has allocated RMB 100 million for research and development of sustainable infrastructure solutions[10]. - The company plans to continue expanding its construction services and improve operational efficiency in response to market conditions[51]. - The company plans to increase its investment in Xuanguang Company by RMB 1.51378 billion, with a total investment of RMB 1.21522 billion from Xuancheng Transportation Investment[65]. - The G50 Hu-Yu Expressway expansion project has a total estimated cost of RMB 13.107 billion and is expected to be completed by 2024, with RMB 992 million invested so far[67]. Financial Position and Assets - The total assets of the company at the end of the reporting period were CNY 21,148,687,292.20, an increase of 6.16% from the end of the previous year[18]. - The total assets as of June 30, 2022, amounted to RMB 21,191,790,000, reflecting a 6.14% increase from RMB 19,965,469,000 at the end of 2021[28]. - The total liabilities increased by 15.62% to RMB 9,233,022,000 from RMB 7,985,646,000 in the previous year[28]. - The company's equity attributable to owners was RMB 11,180,247 thousand, slightly down from RMB 11,424,654 thousand, a decrease of approximately 2.14%[158]. - The company’s retained earnings decreased to RMB 8,833,923 thousand from RMB 9,078,629 thousand, a decline of approximately 2.7%[158]. Research and Development - New technology initiatives include the implementation of smart toll collection systems, expected to reduce wait times by 30%[10]. - The company has implemented an AI-integrated inspection platform to enhance toll collection and management efficiency[32]. - The company is actively participating in the construction of a smart highway system in the Yangtze River Delta region[32]. Environmental and Social Responsibility - The company has implemented a green maintenance technology that effectively balances economic and environmental benefits, promoting low-noise and high-friction surface technology[96]. - The company has provided employment services to 323 poverty-stricken households, totaling 1,101 individuals, and achieved sales of RMB 489,100 from local agricultural products[109]. - The company has actively promoted green office practices, including the use of energy-efficient lighting and encouraging double-sided printing to reduce resource consumption[104]. - The company has implemented multiple sewage treatment and renovation projects, aiming for centralized sewage treatment and rainwater separation at all toll stations[99]. Corporate Governance - The company has maintained compliance with the Corporate Governance Code, ensuring high standards of corporate governance[137]. - The Audit Committee held three meetings during the reporting period to review financial reports prepared under Chinese and Hong Kong accounting standards[140]. - The company has implemented a board diversity policy as part of its governance practices[138]. Risk Management - The company emphasized its focus on financial risk management, addressing foreign exchange risk, credit risk, liquidity risk, and cash flow and fair value interest rate risk[176]. - The company has maintained its risk management policies without any changes since the end of the last fiscal year[176]. Employee Management - As of June 30, 2022, the company had a total of 2,025 employees, a decrease from 2,109 employees as of June 30, 2021[92]. - Employee compensation for the reporting period amounted to RMB 194.53 million, an increase from RMB 185.83 million in the same period of 2021[92]. - The company emphasizes employee training and has developed a 2022 education and training plan to enhance business skills and compliance awareness[92].