证券代码：600020 证券简称：中原高速 公告编号：临 2023－031 河南中原高速公路股份有限公司 关于参加沪市高速公路行业上市公司集体 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个别及连带责任。 重要内容提示： 会议召开时间：2023年9月14日(星期四) 上午 9:30-11:30，下午14：00-17：00 会议召开地点：上海证券交易所上证路演中心 （网址：http://roadshow.sseinfo.com/） 会议召开方式：线上播放业绩讲解视频（上午），现场交流、视频直播 和网络文字互动（下午） 投资者可于2023年9月13日(星期三)16:00前登录上证路演中心网站首页 点击"提问预征集"栏目或通过公司邮箱zygs600020@163.com进行提问。公司 将在说明会上对投资者普遍关注的问题进行回答。 河南中原高速公路股份有限公司（以下简称"公司"）已于 2023 年 8 月 12 日在上海证券交易所网站（www.sse.com.cn）发布公司 2023 年半年度报告。根据 中国证监会《上市公司 ...

证券代码：600020 证券简称：中原高速 公告编号：临 2023－030 河南中原高速公路股份有限公司 2023 年 7 月份通行费收入和交通量数据公告 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个别及连带责任。 河南中原高速公路股份有限公司（以下简称"公司"）2023 年 7 月份通行 费收入为 429,185,030.50 元，各路段情况如下： | 路段 | 通行费收入 | 交通量 | | --- | --- | --- | | | （元） | （折算数，台次） | | 京港澳高速公路郑州至漯河段 | 182,606,659.07 | 3,090,421 | | 京港澳高速公路漯河至驻马店段 | 54,804,263.99 | 2,020,177 | | 郑栾高速公路郑州至尧山段 | 79,255,019.66 | 845,912 | | 郑州至民权高速公路 | 46,792,825.79 | 937,287 | | 德上高速公路永城段 | 9,727,795.96 | 414,214 | | 商丘至登封高速公路 | 55,9 ...

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 2,457,122,290.08, a decrease of 40.34% compared to CNY 4,118,217,110.91 in the same period last year[23]. - Net profit attributable to shareholders of the listed company reached CNY 621,596,480.94, an increase of 86.48% from CNY 333,332,950.66 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 598,681,395.82, up 96.30% from CNY 304,985,179.49 in the same period last year[23]. - The net cash flow from operating activities was CNY 1,272,610,237.10, representing a 53.35% increase compared to CNY 829,898,939.13 in the previous year[23]. - The total profit for the period was 815 million yuan, with a net profit attributable to shareholders of 622 million yuan, and a net profit of 599 million yuan after deducting non-recurring gains and losses[47]. - The company reported a total revenue of 3,655.51 million CNY for the first half of 2023, an increase of 39.18% compared to the previous year[95]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 51,007,642,678.39, an increase of 2.57% from CNY 49,729,880,466.64 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were CNY 14,616,978,827.95, reflecting a growth of 16.02% from CNY 12,599,109,907.49 at the end of the previous year[23]. - As of June 30, 2023, the company's total assets amounted to 51.008 billion yuan, with net assets attributable to shareholders at 14.617 billion yuan, resulting in a debt-to-asset ratio of 71.34%[49]. - The company reported a significant increase in cash and cash equivalents, rising by 154.03% to ¥2,440,077,121.99 from ¥960,541,090.65 year-on-year[63]. - The total liabilities decreased by 32.65% in accounts payable, amounting to ¥395,117,964.88 compared to ¥586,688,101.36 last year[63]. Operational Efficiency - The company is focusing on enhancing operational efficiency and has implemented measures to improve toll collection and reduce evasion, including special rectification actions against evasion vehicles[54]. - The company is implementing measures to improve toll collection efficiency, including the introduction of monitoring equipment and automation in processing[103]. - The company is actively pursuing technological advancements, including the application of automated toll collection systems and digital operation monitoring[57]. Strategic Development - The company operates approximately 808 kilometers of highways, with a focus on expanding its diversified business strategy[35]. - The government’s highway network plan aims for over 10,000 kilometers of operational highways by 2025, providing growth opportunities for the company[35]. - The company is actively developing diversified projects alongside its core highway operations, including investments in banking and real estate[35]. - The company plans to expand its market presence and improve operational efficiency as the macroeconomic environment recovers[68]. Risk Management - The company highlighted the risk of macroeconomic changes impacting highway project operations, with total demand being a significant concern for economic performance[98]. - The company is actively monitoring industry policy risks, particularly changes in toll collection methods that could affect traffic flow and revenue stability[99]. - The company is committed to enhancing its risk management capabilities in response to operational challenges in the free-flow tolling environment[103]. Environmental and Social Responsibility - The company does not belong to the key pollutant discharge units and has not faced any administrative penalties due to environmental issues during the reporting period[113]. - The company has implemented a 100% recycling rate for asphalt concrete waste generated during road maintenance, significantly reducing environmental pollution[115]. - The company emphasizes green development by integrating ecological protection into its highway construction and management practices[118]. - The company has provided targeted assistance to 8 poverty-stricken households and supported 6 students in educational initiatives as part of its social responsibility efforts[120]. Related Party Transactions - The company reported a total of 62.5 million yuan in expected daily related party transactions for 2023, with actual transactions amounting to 7.34 million yuan during the reporting period[136]. - The company is focused on maintaining transparency and compliance in its related party transactions, with ongoing monitoring and reporting mechanisms in place[136]. - The company’s financial performance and operational results were not significantly impacted by related party debts, indicating effective management[138]. Shareholder Relations - The company has committed to avoid competition with its controlling shareholder, Henan Transportation Investment Group, ensuring no overlap in the management of highways and bridges[126]. - The company has received a commitment from Henan Transportation Investment Group regarding land use rights leasing, ensuring compliance with contractual obligations[129]. - The company has not reported any changes in shareholding among directors, supervisors, and senior management during the reporting period[179].

（三）会议应出席监事 5 人，实际出席 5 人。 （四）会议的召开符合法律、法规、规章和《公司章程》规定。 证券代码：600020 证券简称：中原高速 公告编号：临 2023－029 河南中原高速公路股份有限公司 第七届监事会第十三次会议决议公告 本公司监事会及全体监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个别及连带责任。 一、监事会会议召开情况 （一）河南中原高速公路股份有限公司(以下简称"公司")第七届监事会第 十三次会议于 2023 年 8 月 11 日上午以通讯表决方式召开。 （二）会议通知及相关材料已于 2023 年 7 月 31 日以专人或传真、电子邮件 方式发出。 二、监事会会议审议情况 本次会议由监事会主席王远征先生主持，会议审议了通知中所列的全部事 项。审议情况如下： （一）审议通过《关于公司 2023 年半年度报告及其摘要的议案》。 表决结果：同意 5 票，反对 0 票，弃权 0 票。 特此公告。 河南中原高速公路股份有限公司监事会 2023 年 8 月 12 日 1 ...

1 证券代码：600020 证券简称：中原高速 公告编号：临 2023－021 河南中原高速公路股份有限公司 关于参加河南辖区上市公司 2023 年投资者网上集体接待日 活动的公告 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个别及连带责任。 为进一步加强与投资者的互动交流，河南中原高速公路股份有限公司(以下 简称"公司"或"本公司")定于 2023 年 5 月 18 日（周四）16:00-17:20 参加 在全景网举办的"真诚沟通 传递价值"河南辖区上市公司 2023 年投资者网上集 体接待日活动，本次活动将采用网络远程的方式举行，投资者可登陆"全景•路 演天下"（http://rs.p5w.net）参与本次互动交流。 出席本次网上集体接待日活动的人员有：总会计师彭武华先生、董事会秘书 杨亚子女士、证券事务代表李全召先生，欢迎广大投资者积极参与。 特此公告。 河南中原高速公路股份有限公司董事会 2023 年 5 月 13 日 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,203,727,869.81, representing a 27.73% increase compared to CNY 942,417,160.68 in the same period last year[5] - Net profit attributable to shareholders was CNY 385,930,863.71, a significant increase of 173.46% from CNY 141,211,387.95 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 371,568,215.52, reflecting a 191.90% increase compared to CNY 127,374,181.73 in the previous year[5] - Basic and diluted earnings per share were both CNY 0.1628, marking a 216.12% increase from CNY 0.05 in the previous year[6] - The weighted average return on equity increased to 3.47%, up by 2.38 percentage points from 1.09% year-on-year[6] - The significant increase in revenue and profit is attributed to economic recovery and a substantial rise in toll revenue[11] - The company's operating revenue increased by 28.76% year-on-year, reaching CNY 1,182,879,084.78[17] - Toll revenue rose by 26.71% compared to the same period last year[17] - The transportation industry contributed CNY 1,119,194,361.67 in revenue, with a year-on-year increase of 26.71%[16] - Real estate business revenue surged by 77.35%, totaling CNY 56,664,746.64[16] - The construction service segment saw a revenue increase of 103.16%, amounting to CNY 7,019,976.47[16] - The total cost of main business increased by 10.83% year-on-year, totaling CNY 506,353,063.27[16] Cash Flow and Assets - The net cash flow from operating activities was CNY 586,144,437.89, a substantial increase of 1,132.09% from a negative CNY 56,791,857.75 in the same period last year[6] - Cash and cash equivalents as of March 31, 2023, were CNY 664,934,654.50, down from CNY 960,541,090.65 at the end of 2022[19] - Accounts receivable increased to CNY 445,561,079.41 from CNY 266,253,476.25 year-on-year[19] - The company reported a total of 6,068,340,436.76 in current assets as of March 31, 2023[19] - The cash received from operating activities was CNY 965,470,454.35 in Q1 2023, compared to CNY 766,785,110.02 in Q1 2022, reflecting a growth of 26%[39] - The ending balance of cash and cash equivalents was CNY 585,669,213.01, down from CNY 727,315,355.83 year-over-year[40] Liabilities and Equity - Total assets at the end of the reporting period were CNY 49,703,148,631.52, a slight decrease of 0.05% from CNY 49,709,713,241.01 at the end of the previous year[6] - Shareholders' equity attributable to the parent company increased to CNY 13,990,975,014.06, reflecting an 11.05% increase from CNY 12,592,530,993.93 at the end of the previous year[6] - Total liabilities decreased to ¥35,680,892,320.23 in Q1 2023 from ¥37,099,513,384.86 in Q1 2022, a reduction of 3.8%[21] - Long-term borrowings decreased to ¥23,482,801,539.30 in Q1 2023 from ¥25,061,200,539.30 in Q1 2022, a decline of 6.3%[21] - The company's equity attributable to shareholders increased to ¥13,990,975,014.06 in Q1 2023 from ¥12,599,109,907.49 in Q1 2022, reflecting an increase of 11.0%[21] Investment and Financing Activities - The company raised CNY 1 billion from investment and CNY 2 billion from borrowings during Q1 2023, totaling CNY 3 billion in cash inflow from financing activities[28] - The net cash outflow from investing activities was CNY -271,163,707.97 in Q1 2023, compared to CNY -1,003,529,290.97 in Q1 2022, indicating a reduction in cash outflow[28] - The company’s total liabilities increased, with debt repayment amounting to CNY 3,276,399,000.00 in Q1 2023, compared to CNY 1,429,620,000.00 in Q1 2022[28] - Cash inflow from financing activities totaled CNY 3,000,000,000.00, an increase from CNY 2,549,000,000.00 in the previous year[40] - Cash outflow from financing activities was CNY 3,610,308,233.04, up from CNY 1,784,194,114.69 year-over-year[40] - The company repaid debts amounting to CNY 3,276,399,000.00, an increase from CNY 1,429,620,000.00 in the previous year[40] Future Outlook - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters[17]

Financial Performance - The company's operating revenue for 2022 was CNY 7,410,507,950.58, representing a 32.17% increase compared to CNY 5,606,615,816.59 in 2021[23] - The net profit attributable to shareholders of the listed company decreased by 81.10% to CNY 140,489,913.50 from CNY 743,468,498.44 in the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 107,196,042.22, down 84.85% from CNY 707,655,776.25 in 2021[23] - The net cash flow from operating activities was CNY 1,982,582,772.56, a decrease of 30.13% compared to CNY 2,837,521,852.10 in 2021[23] - The total profit amounted to 179 million RMB, a decrease of 81.05% year-on-year[58] - The basic earnings per share for 2022 was 0.0186 RMB, down 93.47% from 0.2850 RMB in 2021[24] - The weighted average return on equity for 2022 was 0.40%, a decrease of 5.77 percentage points from 6.17% in 2021[24] - The toll revenue for 2022 was 3.633 billion RMB, a decrease of 21.60% year-on-year[37] Assets and Liabilities - As of the end of 2022, the net assets attributable to shareholders were CNY 12,592,530,993.93, an increase of 1.95% from CNY 12,351,112,554.65 at the end of 2021[23] - The total assets of the company increased by 6.18% to CNY 49,709,713,241.01 from CNY 46,817,424,617.97 in 2021[23] - The company's debt-to-asset ratio was 74.60% at the end of 2022, slightly improved from 75.18% in 2019[39] - Accounts receivable increased by 55.91% to RMB 266.25 million, up from RMB 170.77 million in the previous period[72] - Short-term borrowings rose by 201.74% to RMB 3.28 billion, compared to RMB 1.09 billion last year[72] - Other payables increased by 113.52% to RMB 672.03 million, up from RMB 314.74 million in the previous period[72] Cash Flow and Investments - The cash flow from operating activities for the year was significantly impacted, with a net cash flow of -56.79 million RMB in the first quarter[29] - Cash received from operating activities increased by 164.17% to ¥755,768,377.77 compared to the previous year[68] - Investment cash payments surged by 5,111.25% to ¥186,127,211.37 compared to the previous year[69] - Cash received from issuing perpetual bonds was ¥2,197,800,000.00, marking a 100% increase[69] Strategic Initiatives and Future Outlook - The company is actively expanding its multi-diversified business strategy, focusing on highway operations, real estate, and investment management[47] - The company aims to enhance revenue by optimizing toll collection processes and improving operational efficiency through updated auditing methods and technology integration[99] - The company plans to implement measures to improve traffic flow at key toll stations, including the construction of tidal lanes and the installation of X-ray inspection equipment[100] - The company expects to achieve an operating revenue of 9.735 billion yuan in 2023, with toll revenue projected at 4.960 billion yuan[99] - Future outlook includes plans for market expansion and potential mergers and acquisitions to enhance operational capacity[123] Governance and Management - The company has engaged in 158 investor inquiries and responded to 91 questions on the Shanghai Stock Exchange's interactive platform in 2022[113] - The company revised 21 governance systems and established 2 new systems during the reporting period[114] - The company’s governance structure has been continuously improved to align with internal control standards[114] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was RMB 6.9242 million[130] - The company has established specialized committees within the board, including an audit committee and a remuneration and assessment committee, to ensure effective oversight and strategic direction[136] Social Responsibility and Community Engagement - The company has committed to fulfilling its social responsibilities, as evidenced by its detailed annual social responsibility report[163] - The company invested a total of 3.4988 million yuan in public welfare projects during the reporting period[164] - The average annual income of residents in Wangzhuang Village increased from 7,122 yuan to 24,000 yuan, with poverty-stricken households achieving an average annual income of 31,575 yuan in 2022, doubling since the end of 2019[166] - The company ensured 100% access to tap water for 165 households in Wangzhuang Village, significantly improving living conditions[171] - The employment rate among the labor force in Wangzhuang Village is 89.3%, with 25 out of 28 individuals employed, including 3 entrepreneurs and 7 in public welfare positions[175] Environmental Initiatives - The company promotes ecological protection and resource conservation in its operations, utilizing 100% of recycled asphalt concrete waste from maintenance activities[160] - The company emphasizes green development in project construction, optimizing designs to minimize land use and protect arable land[162] - The company has implemented a long-term mechanism for pollution prevention and control, ensuring compliance with environmental standards in service areas[160]

证券代码：600020 证券简称：中原高速 公告编号：临 2023－017 河南中原高速公路股份有限公司 关于召开 2022 年度业绩说明会的公告 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个别及连带责任。 重要内容提示： 会议召开时间：2023年4月26日(星期三)下午 16:00-17:00 1 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 三、参加人员 会议召开地点： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于2023年4月19日(星期三)至4月25日(星期二)16:00前登录上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 zygs600020@163.com进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 河南中原高速公路股份有限公司（以下简称"公司"）已于 2023 年 4 月 15 日发 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,273,207,486.41, representing a year-on-year increase of 97.03%[6] - The net profit attributable to shareholders for Q3 2022 was ¥70,614,546.79, a decrease of 44.97% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥53,906,826.19, down 54.93% year-on-year[6] - The basic earnings per share for Q3 2022 was ¥0.0193, reflecting a decline of 57.49% compared to the previous year[6] - Total operating revenue for the first three quarters of 2022 reached ¥6,391,424,597.32, a significant increase from ¥4,176,673,817.74 in the same period of 2021, representing a growth of approximately 53.2%[32] - Net profit for the third quarter of 2022 was ¥403,242,524.48, down from ¥770,641,838.00 in the same quarter of 2021, reflecting a decrease of approximately 47.7%[35] - Net profit for the first three quarters of 2022 was CNY 483,311,826.86, a decline of 30.6% compared to CNY 695,936,657.91 in 2021[55] - The total comprehensive income attributable to the parent company was approximately ¥373.28 million, down from ¥763.38 million, reflecting a decrease of 51.0%[37] Assets and Liabilities - The total assets at the end of the reporting period were ¥49,650,016,297.79, an increase of 6.05% from the end of the previous year[9] - Total assets as of the end of the reporting period amounted to ¥49,650,016,297.79, up from ¥46,817,424,617.97 at the end of the previous period, marking an increase of about 6.0%[32] - Total liabilities increased to ¥35,945,335,458.01 from ¥34,415,587,785.60, representing a rise of approximately 4.5%[32] - The company's total assets amounted to CNY 47,208,143,090.17, an increase from CNY 45,140,564,026.90 year-over-year[50] - Total liabilities reached CNY 35,298,004,079.91, compared to CNY 34,631,952,438.71 in the previous year[50] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,699,338,102.32, down 34.86% year-on-year[6] - Cash flow from operating activities was approximately ¥1.70 billion, down 34.8% from ¥2.61 billion in the previous year[42] - Cash inflow from operating activities totaled ¥3.66 billion, a decrease of 12.2% compared to ¥4.17 billion last year[42] - The company reported a net cash flow from investing activities of -CNY 3,194,824,561.03, compared to -CNY 392,987,018.21 in the previous year[63] - Cash inflow from financing activities was CNY 10,282,210,000.00, an increase from CNY 7,817,390,000.00 in the previous year[63] Revenue Breakdown - The company's total operating revenue increased by 54.62% year-on-year to CNY 6,341,088,003.16, while operating costs rose by 132.33% to CNY 4,934,011,784.75[19] - Revenue from the transportation sector was CNY 2,940,289,048.01, down 15.85% compared to the previous year, with costs at CNY 1,575,558,131.77, a decrease of 13.45%[17] - The real estate sector reported revenue of CNY 176,591,485.04, a significant decline of 70.77% year-on-year, with costs at CNY 134,246,182.87, down 55.36%[19] - Construction service revenue surged by 100.00% to CNY 3,224,207,470.11, with corresponding costs also at CNY 3,224,207,470.11[19] Shareholder Information - The company has a total of 69,962 common shareholders at the end of the reporting period[13] - The company has no significant related party transactions among its major shareholders, ensuring transparency in ownership[16] Future Outlook - The company is focused on expanding its construction services and has plans for future projects in the expressway sector[22] - The company won the bid for the Zhengzhou to Luoyang expressway project, with contracts to be signed upon submission of performance bonds[22]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 300 million, up 20% compared to the same period last year[15]. - The company's operating revenue for the first half of the year reached CNY 4,118,217,110.91, a 36.23% increase compared to CNY 3,022,923,799.38 in the same period last year[20]. - Net profit attributable to shareholders decreased by 48.08% to CNY 333,490,848.21 from CNY 642,318,043.70 year-on-year[20]. - The total profit for the period was 403 million yuan, with net profit attributable to shareholders reaching 333 million yuan, and net profit after deducting non-recurring gains and losses at 305 million yuan[40]. - Future guidance indicates a projected revenue growth of 12% for the second half of 2022, driven by increased traffic and toll rates[15]. - The basic earnings per share decreased by 51.53% to CNY 0.1275 from CNY 0.2631 in the same period last year[20]. - The weighted average return on equity dropped by 3.02 percentage points to 2.67% from 5.69% year-on-year[20]. Traffic and Operations - The average daily traffic volume on the expressways increased by 10% to 1.5 million vehicles[15]. - Toll revenue for the period was CNY 1.787 billion, a decline of 26.07% year-on-year, primarily due to economic downturn and pandemic impacts[20]. - Overall traffic volume on highways decreased, leading to a 26.07% decline in toll revenue[61]. - The company has maintained stable cash flow from operating activities, with net cash flow from operations recorded at 1.72 billion yuan in the first half of 2021[51]. - The company has actively engaged in enhancing toll revenue through various measures, including the implementation of a toll revenue target responsibility system[53]. Strategic Initiatives - The company plans to expand its expressway network by 200 kilometers by the end of 2023, focusing on key economic zones[15]. - New technology initiatives include the implementation of smart toll collection systems, expected to reduce operational costs by 5%[15]. - The company has allocated RMB 100 million for research and development of new road safety technologies in 2022[15]. - The company has diversified its business model, focusing on highway operations while also engaging in banking, trust, insurance, and real estate development[28]. - The company implemented a dual-wheel drive strategy to promote rapid development, focusing on the construction of major transportation hubs in the central region[39]. Financial Position and Assets - The company's total assets increased by 5.71% to CNY 49,490,978,430.55 compared to CNY 46,817,424,617.97 at the end of the previous year[20]. - As of June 30, 2022, the company's total assets amounted to 49.491 billion yuan, and net assets attributable to shareholders were 12.664 billion yuan, resulting in a debt-to-asset ratio of 74.35%[42]. - The company has a total long-term equity investment amounting to RMB 5,501.58 million, an increase of RMB 252.35 million or 4.81% compared to the beginning of the period[77]. - The company has signed fixed asset loan contracts totaling RMB 29.5 billion, with a remaining balance of RMB 11.1813 billion as of the end of the reporting period[13]. - The company has established a syndicate loan with a maximum amount of RMB 2.179 billion, with a remaining balance of RMB 2.0727 billion as of the end of the reporting period[15]. Challenges and Risks - The management highlighted potential risks including regulatory changes and economic fluctuations that could impact traffic volumes[15]. - The company faced significant challenges in 2022 due to the impact of the Russia-Ukraine conflict, leading to a decline in traffic volume and uncertainty in highway project operations[89]. - The company has experienced a sharp decline in traffic volume due to pandemic-related restrictions, particularly in areas heavily affected by outbreaks[92]. - The company reported a significant increase in oil prices, which have risen 10 times this year, further impacting public travel and highway usage[89]. Environmental and Social Responsibility - The company emphasizes environmental protection and resource conservation in all aspects of project construction and management[105]. - The company has implemented advanced road maintenance technologies to recycle asphalt materials, reducing environmental pollution and costs[106]. - The company has invested in rural tourism and infrastructure projects, including a 3.08 km cement road and a shared library with over 6,000 books[117]. - The company has committed to consolidating poverty alleviation achievements and promoting effective connections between poverty alleviation and rural revitalization[122]. Governance and Shareholder Relations - The company has established a comprehensive governance structure and a professional management team to ensure high-quality and steady development[36]. - The company has undergone changes in its board and management, including the election of new independent directors and supervisors[99]. - The company has made long-term commitments to avoid competition with its controlling shareholder, ensuring the interests of other shareholders are protected[125]. - The company has not engaged in any financial business with related financial companies during the reporting period[145].