Financial Performance - In 2022, the company achieved operating revenue of 2.671 billion yuan, a year-on-year decrease of 10.26%[2] - The total operating cost was 1.337 billion yuan, down 6.36% year-on-year[2] - The company reported a net profit of 1.059 billion yuan, an increase of 0.12% compared to the previous year[12] - The company’s toll revenue distribution was 2.639 billion yuan, with a decline of 10.30% year-on-year[12] - The net profit attributable to shareholders was CNY 840 million, up 1.35% year-on-year, with earnings per share of CNY 0.3062[20] - The weighted average return on equity was 7.89%, a decrease of 0.26 percentage points year-on-year[20] - The net cash flow from operating activities decreased by 25.61% to CNY 1.762 billion due to reduced toll revenue[20] - The company maintained a high cash dividend ratio, supported by stable operating cash flow[19] - The company reported an increase in government subsidies, amounting to CNY 9.206 million, up from CNY 7.372 million in the previous year[26] Investment and Financing - The company successfully issued a new 1 billion yuan bond, ensuring seamless connection with old company bonds[12] - The company has invested in financial institutions such as Xiamen International Bank, Haixia Insurance, and Industrial Bank, contributing to sustainable long-term development[31] - The company plans to distribute cash dividends of 1.5 yuan per 10 shares (including tax) based on the total share capital of 2.7444 billion shares as of December 31, 2022[38] - The company reported a significant increase in long-term expenses, which rose by 236.18% to ¥16,499,864.27 due to new renovation costs[70] - The company issued two bonds: 22 Min Gao 01 with a total amount of 60,000 million RMB and 22 Min Gao 02 with 40,000 million RMB[198] - Both bonds have been fully utilized, with 100% of the raised funds allocated to their intended purposes[200] - The interest rate for bond 22 Min Gao 01 is 3.04% and for bond 22 Min Gao 02 is 3.49%[198] Operational Strategy - The company focused on optimizing its organizational structure to enhance operational efficiency[12] - The company is actively exploring digitalization and intelligent transportation as part of its strategic development[12] - The company emphasizes a development strategy of "core business enhancement and investment-driven" to improve overall value[31] - The company plans to focus on improving quality and efficiency, aiming for advanced management goals and enhancing operational effectiveness through cost management and centralized actions against toll evasion[99] - The company will strengthen collaboration with government departments to secure policy support for the highway industry amid increasing uncertainties[100] - The company aims to optimize data management and establish a vehicle credit system to ensure accurate toll collection[101] Governance and Compliance - The company’s financial report has been verified by Huaxing Accounting Firm, which issued a standard unqualified audit opinion[54] - The company acknowledges potential risks in future plans and development strategies, advising investors to be cautious[55] - The company is committed to enhancing its governance structure and ensuring compliance with regulatory requirements to maintain operational integrity[103] - The company has implemented measures to enhance corporate governance and operational efficiency, including the completion of board member elections[128] - The company has established specialized committees, including an Audit Committee and a Compensation and Assessment Committee, to oversee governance and management practices[168] Employee and Management - The total remuneration paid to current and former directors, supervisors, and senior management during the reporting period amounted to 2.7534 million yuan[141] - The company has implemented a training program focusing on enhancing the skills and management capabilities of its employees[175] - The company has a robust decision-making process for executive compensation, approved by the board of directors[163] - The total number of employees in the company and its main subsidiaries is 1,312, with 73 in the parent company and 1,239 in subsidiaries[182] Risks and Challenges - The company faces risks from highway toll expiration and will conduct feasibility studies for road asset expansion to ensure sustainable operations[100] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[39] - The company has not experienced any significant risks identified by the Supervisory Board during the reporting period[173] Future Outlook - The company is committed to integrating new technologies in transportation, aligning with national policies promoting smart transportation systems[119] - The company is actively exploring investment projects that align with its core business to broaden its investment portfolio[120] - The company has plans to conduct feasibility studies for the expansion and renovation of key road assets to ensure sustainable development[120]

Financial Performance - The company's operating revenue for Q3 2022 was ¥744,624,724.58, representing a year-over-year increase of 1.22%[6] - The net profit attributable to shareholders for Q3 2022 was ¥234,490,672.98, reflecting a year-over-year increase of 2.86%[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥236,258,159.55, with a year-over-year increase of 5.21%[6] - Total revenue for the first three quarters of 2022 was CNY 2,054,169,568.54, a decrease of 7.8% compared to CNY 2,227,884,299.53 in the same period of 2021[25] - The company reported a net profit of CNY 1,191,906,330.16 for the third quarter, compared to CNY 1,239,107,691.23 in the previous year[28] - The total profit for the current period is approximately ¥1.20 billion, slightly down from ¥1.20 billion in the previous period[32] - The net profit attributable to shareholders of the parent company is approximately ¥732.30 million, an increase of 2.6% from ¥713.37 million in the previous period[32] - The total comprehensive income for the current period is approximately ¥800.30 million, down from ¥868.50 million in the previous period, indicating a decrease of 7.8%[34] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥16,837,441,856.35, showing a slight increase of 0.85% compared to the end of the previous year[9] - Total assets amounted to CNY 16,837,441,856.35, an increase from CNY 16,695,821,660.79 in the previous period[25] - Total liabilities were CNY 3,805,619,805.22, slightly down from CNY 3,831,004,088.28[25] - Non-current assets totaled CNY 15,030,085,863.45, a decrease from CNY 15,640,887,160.30[25] - Current liabilities decreased to CNY 1,365,272,026.20 from CNY 1,892,399,463.35, reflecting a reduction of 27.8%[25] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,435,638,748.43, down 14.33% year-over-year[9] - Cash flow from operating activities generated a net amount of approximately ¥1.44 billion, down from ¥1.68 billion in the previous period, a decline of 14.3%[39] - Cash flow from investing activities resulted in a net outflow of approximately ¥101.45 million, compared to a net outflow of ¥308.50 million in the previous period, showing an improvement[39] - Cash flow from financing activities resulted in a net outflow of approximately ¥585.21 million, compared to a net outflow of ¥795.81 million in the previous period, indicating a reduction in cash outflow[39] - The company received cash from operating activities totaling approximately ¥2.12 billion, down from ¥2.27 billion in the previous period, a decrease of 6.6%[39] Shareholder Information - The total number of common shareholders at the end of the reporting period is 89,196[15] - The largest shareholder, Fujian Expressway Group Co., Ltd., holds 992,367,729 shares, accounting for 36.16% of total shares[15] - The company has no pledged or frozen shares among the top ten shareholders[15] - The top ten shareholders include state-owned entities, indicating a strong government presence in ownership[15] - There are no significant changes in the shareholder structure or related party transactions reported[18] Government Support and Investments - The company reported a significant increase of 48.82% in government subsidies recognized during the period[12] - The company experienced a 67.12% increase in net cash flow from investing activities year-over-year[12] - The company plans to continue expanding its market presence and investing in new projects to drive future growth[12] - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[25] - The company is focusing on strategic acquisitions to bolster its market position and drive future growth[25] Other Financial Metrics - The weighted average return on equity for Q3 2022 was 2.20%, a decrease of 0.03 percentage points compared to the previous quarter[9] - Basic earnings per share for Q3 2022 were ¥0.0854, an increase of 2.86% compared to the same period last year[9] - Research and development expenses were reported at CNY 63,877,644.21, slightly lower than CNY 64,812,738.29 in the previous year[28] - The company's cash and cash equivalents as of September 30, 2022, amount to RMB 1,115,485,141.08, an increase from RMB 366,507,693.63 at the end of 2021[20] - Accounts receivable increased to RMB 564,554,226.22 from RMB 524,360,729.76 year-over-year[20] - The total current assets as of September 30, 2022, are RMB 1,807,355,992.90, compared to RMB 1,054,934,500.49 at the end of 2021[20] - Long-term equity investments decreased to RMB 133,659,985.72 from RMB 141,634,926.87 year-over-year[20] - The company reported a decrease in other comprehensive income after tax, amounting to approximately -¥117.83 million, compared to -¥38.03 million in the previous period[32] - The ending cash and cash equivalents balance is approximately ¥1.12 billion, an increase from ¥918.73 million in the previous period, reflecting a growth of 21.5%[39]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,309,544,843.96, a decrease of 12.24% compared to ¥1,492,218,682.75 in the same period last year [25]. - The net profit attributable to shareholders of the listed company was ¥497,813,910.62, an increase of 2.56% from ¥485,399,786.08 in the previous year [25]. - The net cash flow from operating activities was ¥894,292,679.42, down 14.14% from ¥1,041,568,779.46 in the same period last year [25]. - The total assets at the end of the reporting period were ¥17,448,608,548.99, an increase of 4.51% compared to ¥16,695,821,660.79 at the end of the previous year [25]. - The basic earnings per share for the first half of 2022 was ¥0.1814, a 2.54% increase from ¥0.1769 in the same period last year [26]. - The company achieved toll revenue of ¥1,292,992,670.42, a year-on-year decrease of 12.09% [34]. - Operating revenue was ¥1,309,544,843.96, down 12.24% compared to the previous year [34]. - The net profit attributable to the parent company was ¥497,813,910.62, an increase of 2.56% year-on-year [34]. - Financial expenses decreased by 20.77% to ¥40,527,558.17 due to lower financing costs [34]. - The company’s weighted average return on equity was 4.64% [34]. Corporate Governance and Compliance - The board of directors confirmed the authenticity, accuracy, and completeness of the semi-annual report, assuming legal responsibility for any misstatements [4]. - The report period was not audited, but the financial report was declared true and complete by the responsible persons [5]. - The management team is responsible for ensuring the accuracy of the financial statements presented in the report [5]. - The company has not faced any significant governance issues, as all directors were able to ensure the report's integrity [8]. - The company has a commitment to transparency, as indicated by the detailed disclosure of its financial and operational status [4]. Risk Management - The company has detailed risk factors and countermeasures in the board report regarding future development [8]. - The company faces macroeconomic risks due to geopolitical tensions and monetary policy shifts, impacting transportation demand [45]. - The company plans to enhance its main business operations and explore derivative economic development paths to mitigate risks from economic fluctuations [45]. - The company is at risk of traffic diversion due to the increasing density of the highway network in Fujian Province, which has over 6,000 kilometers of operational highways [48]. - The company aims to improve operational management and engage in differentiated marketing strategies to counteract potential traffic diversion [48]. - The company’s revenue heavily relies on highway tolls, posing investment development risks due to regulatory impacts and a lack of diversified income sources [48]. - The company will conduct feasibility studies for investment projects and establish a risk control team to enhance decision-making processes [48]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 87,576 [73]. - The top ten shareholders hold a total of 1,600,000,000 shares, representing 58.48% of the total shares [73]. - Fujian Expressway Group Co., Ltd. is the largest shareholder, holding 992,367,729 shares, which is 36.16% of the total shares [73]. - The second largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, accounting for 17.75% [73]. Financial Instruments and Assets - The company confirmed financial assets and liabilities upon entering financial instrument contracts [175]. - Financial assets are classified into three categories: amortized cost, fair value through profit or loss, and fair value through other comprehensive income [178]. - Financial liabilities are classified into fair value through profit or loss, loan commitments at below market rates, and amortized cost [178]. - The company uses the effective interest method for subsequent measurement of financial liabilities at amortized cost [178]. - Financial assets are initially measured at fair value, with transaction costs directly expensed for those measured at fair value through profit or loss [177]. Cash Flow and Liquidity - The net cash flow from operating activities for the first half of 2022 was ¥894,292,679.42, a decrease of 14.2% compared to ¥1,041,568,779.46 in the first half of 2021 [123]. - The total cash inflow from operating activities was ¥1,398,862,079.62, down from ¥1,464,258,884.29 in the previous year, reflecting a decline of approximately 4.5% [123]. - The cash outflow from operating activities increased to ¥504,569,400.20, compared to ¥422,690,104.83 in the same period last year, representing a rise of about 19.4% [123]. - The net increase in cash and cash equivalents for the first half of 2022 was ¥1,183,800,813.43, compared to ¥311,033,283.78 in the same period of 2021, indicating a growth of approximately 280.5% [123]. - The ending balance of cash and cash equivalents reached ¥1,550,308,507.06, up from ¥658,268,563.20 at the end of the previous year [123]. Capital Structure and Financing - The company issued ¥1 billion in corporate bonds during the reporting period [37]. - The company has issued corporate bonds with a total outstanding amount of 60,000 million RMB at an interest rate of 3.54% [80]. - The company also issued bonds in 2022 with a total outstanding amount of 60,000 million RMB at an interest rate of 3.04% [80]. - The credit rating for the bonds remains at AA+ with a stable outlook, with no changes during the reporting period [83]. - The current liquidity ratio increased to 109.78%, up 54.03 percentage points from the previous year's end of 55.75% due to the receipt of RMB 1 billion from corporate bonds [85]. - The quick ratio rose to 108.80%, an increase of 55.67 percentage points compared to the previous year's 53.13%, primarily driven by the same bond issuance [88]. - The debt-to-asset ratio increased to 26.38%, up 3.43 percentage points from 22.95% last year, attributed to the issuance of RMB 1 billion in corporate bonds [88]. Subsidiaries and Operations - The company has three subsidiaries: Fujian Fuquan Expressway Co., Ltd. (63.06% ownership), Fujian Luoning Expressway Co., Ltd. (100% ownership), and Fujian Quanzhou-Xiamen Expressway Management Co., Ltd. (100% ownership) [157]. - The company operates in the expressway industry, focusing on the investment, development, construction, and operation of expressways, including the Shenhai Expressway segments from Quanzhou to Xiamen and Fuzhou to Quanzhou [154]. - The company operates a total of 282 kilometers of highways, with no new highway mileage added during the reporting period [32]. Accounting and Reporting Standards - The company follows the Chinese Accounting Standards, ensuring compliance and accuracy in financial reporting [160]. - The financial statements are prepared based on the principle of continuous operation, ensuring a true and complete reflection of the company's financial status and operating results [160]. - The company assesses impairment for investments in subsidiaries, associates, and joint ventures according to specified methods [196].

Financial Performance - The company's operating revenue for Q1 2022 was ¥684,211,164.06, representing a decrease of 5.05% compared to the same period last year[6]. - The net profit attributable to shareholders of the listed company was ¥224,790,355.69, down by 2.63% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥224,490,334.07, a decline of 10.60% compared to the previous year[6]. - Total revenue for Q1 2022 was ¥684,211,164.06, a decrease of 5.0% compared to ¥720,601,971.77 in Q1 2021[30]. - Net profit for Q1 2022 was ¥287,490,382.79, slightly down from ¥288,482,426.88 in Q1 2021, representing a decrease of 0.3%[34]. - Earnings per share for Q1 2022 was ¥0.0819, compared to ¥0.0841 in Q1 2021, reflecting a decline of 2.6%[36]. - Other comprehensive income after tax for Q1 2022 was ¥54,160,869.84, compared to a loss of ¥633,338.17 in Q1 2021[34]. - The company reported a total comprehensive income of ¥341,651,252.63 for Q1 2022, up from ¥287,849,088.71 in Q1 2021, indicating a growth of 18.7%[36]. Cash Flow - The net cash flow from operating activities decreased by 29.56%, amounting to ¥430,126,968.35[6]. - Cash flow from operating activities in Q1 2022 was ¥630,436,827.80, down from ¥772,051,709.27 in Q1 2021, a decrease of 18.3%[38]. - The net cash flow from operating activities was $430,126,968.35, a decrease from $610,588,748.25 in the previous period, reflecting a decline of approximately 29.5%[41]. - Cash outflows from operating activities totaled $200,309,859.45, compared to $161,462,961.02 previously, indicating an increase of about 24%[41]. - The net cash flow from investing activities was $21,814,503.41, a significant recovery from a negative cash flow of $170,112,254.19 in the prior period[41]. - Cash outflows for the acquisition of fixed assets, intangible assets, and other long-term assets amounted to $24,888,556.85, down from $170,522,609.19 previously, showing a reduction of approximately 85.3%[41]. - Cash outflows from financing activities totaled $136,625,756.64, compared to $18,061,320.01 in the previous period, representing an increase of about 657%[43]. - The net cash flow from financing activities was negative at -$136,625,756.64, compared to -$18,061,320.01 previously, indicating a worsening position[43]. - The ending balance of cash and cash equivalents was $681,823,408.75, down from $769,650,453.47 in the previous period, reflecting a decrease of approximately 11.4%[43]. - The total cash inflow from investment activities was $46,703,060.26, a significant increase from $410,355.00 previously[41]. Assets and Liabilities - The total assets at the end of the reporting period were ¥16,903,600,213.03, an increase of 1.24% from the end of the previous year[9]. - Total liabilities were RMB 3,697,131,387.89, with current liabilities at RMB 1,849,952,175.77[27]. - Non-current liabilities decreased to RMB 1,847,179,212.12 from RMB 1,938,604,624.93[27]. - The company reported a decrease in long-term borrowings to RMB 774,310,000.00 from RMB 886,810,000.00[27]. - The total equity of the company was RMB 13,206,468,825.14 as of March 31, 2022[27]. - Total liabilities amounted to ¥3,697,131,387.89, a slight decrease from ¥3,831,004,088.28 in the previous period[29]. - Total equity increased to ¥13,206,468,825.14 from ¥12,864,817,572.51, marking a growth of 2.7%[29]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 88,760[12]. - The equity attributable to shareholders of the listed company was ¥10,750,346,605.96, reflecting a growth of 2.66% year-on-year[9].

Financial Performance - The company's operating revenue for 2021 was CNY 2,977,220,759.39, representing a 28.00% increase compared to CNY 2,325,878,077.58 in 2020[33]. - The net profit attributable to shareholders for 2021 was CNY 829,219,482.66, an increase of 83.37% from CNY 452,213,073.02 in 2020[33]. - The net cash flow from operating activities for 2021 was CNY 2,368,927,087.15, up 34.64% from CNY 1,759,500,566.20 in 2020[33]. - The basic earnings per share for 2021 was CNY 0.3021, an increase of 83.31% compared to CNY 0.1648 in 2020[35]. - The weighted average return on equity for 2021 was 8.15%, an increase of 3.48 percentage points from 4.67% in 2020[35]. - The total assets at the end of 2021 were CNY 16,695,821,660.79, a 3.18% increase from CNY 16,180,632,460.62 at the end of 2020[33]. - The net assets attributable to shareholders at the end of 2021 were CNY 10,471,395,380.43, reflecting a 6.03% increase from CNY 9,875,587,114.78 at the end of 2020[33]. - The company reported a net profit of CNY 115,848,275.51 in Q4 2021, with total operating revenue of CNY 749,336,459.86 for the same quarter[39]. - The company achieved a main business revenue of 2.942 billion RMB, a year-on-year increase of 29.12%[45]. - The company reported a net profit attributable to shareholders of 829 million RMB, representing an 83.37% year-on-year growth[45]. - The total operating revenue for the company was 2.977 billion RMB, reflecting a 28.00% increase compared to the previous year[51]. Dividend Policy - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares based on a total share capital of 2.7444 billion shares, which corresponds to a 10% allocation from the net profit for the year[7]. - In 2021, the company distributed a cash dividend of 1 RMB per 10 shares, totaling 274,440,000 RMB based on 2,744,400,000 shares[136]. - For the year 2021, the proposed cash dividend is 1.5 RMB per 10 shares, which accounts for 49.64% of the net profit attributable to the parent company[136]. - The company has committed to maintaining a cash distribution of at least 30% of distributable profits for the years 2021-2023[136]. Governance and Compliance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective operation[86]. - The board of directors comprises 11 members, including 4 independent directors, exceeding one-third of the total board members, in compliance with legal requirements[86]. - The company has completed the re-election of the ninth board of directors and supervisory board, and appointed a new management team during the reporting period[89]. - The company has implemented a series of financial management systems to ensure independent accounting and financial activities without interference from the controlling shareholder[86]. - The company has actively engaged in investor relations management, including hosting online annual performance briefings and participating in investor interaction activities[86]. - The company has established a comprehensive information disclosure system, ensuring timely and accurate communication of relevant information to all shareholders[86]. - The company has conducted self-inspections on corporate governance and compliance with regulations, leading to continuous improvement in governance standards[89]. - The company has established specialized committees under the board, including strategy, nomination, compensation and assessment, and audit committees, which actively fulfill their responsibilities[86]. - The company has adhered to strict procedures for related party transactions, ensuring fairness and transparency without harming the interests of other shareholders[86]. Risk Management - The company has outlined potential risks in its future development strategies, emphasizing the importance of risk management[9]. - The company faces risks from macroeconomic pressures, including demand contraction and supply shocks, which may impact transportation demand[83]. - The company is monitoring policy changes in the highway sector, particularly regarding the revision of the "Highway Toll Management Regulations," which could affect revenue stability[83]. - The company is committed to improving its risk management framework to mitigate investment and operational risks associated with its business model[83]. Investments and Strategic Development - The company is exploring investment opportunities in smart transportation and new energy sectors to diversify its revenue streams[79]. - The company plans to enhance its main business through internal development and external mergers and acquisitions to improve sustainable growth capabilities[79]. - The company is focusing on data analysis and vehicle flow management to attract more traffic to highways, including measures like container fee reductions and joint precise overload control[80]. - The company invested 800 million RMB to acquire 46 million shares of Industrial Bank at a price of 17.39 RMB per share[45]. - The company confirmed an investment loss of 52.9 million RMB from Haixia Insurance during the reporting period[45]. Employee and Workforce Management - The company reported a total of 1,351 employees, with 93 in the parent company and 1,258 in major subsidiaries[128]. - The company has a total of 54 financial personnel, 243 administrative personnel, and 547 toll collection personnel among its workforce[131]. - The company has implemented a salary distribution policy that considers operational performance and individual performance, ensuring internal and external equity in compensation[132]. - The training plan includes professional training for technical staff, focusing on enhancing comprehensive quality and innovation capabilities[133]. - The company has maintained a focus on enhancing employee training and development to improve overall staff quality[133]. Audit and Internal Control - The company has received a standard unqualified audit report from the accounting firm Rongcheng[6]. - The company's financial report has been verified for authenticity and completeness by its management team[5]. - The company has established a robust internal control system, ensuring effective execution of resolutions and budget management[141]. - There were no significant deficiencies in internal control reported during the period[141]. - The internal control audit report issued was a standard unqualified opinion[144]. - The company has implemented internal audits and checks on subsidiaries to enhance governance and financial compliance[141]. Shareholder Information - The total number of ordinary shareholders reached 91,502 by the end of the reporting period, an increase from 89,306 at the end of the previous month[172]. - The largest shareholder, Fujian Expressway Group Co., Ltd., holds 992,367,729 shares, representing 36.16% of the total shares[173]. - The second largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, accounting for 17.75%[173]. - The top ten shareholders include individuals such as Gao Xiubo and Li Ming, with holdings of 29,000,000 and 28,000,000 shares respectively[176]. - There were no changes in the total number of shares or the capital structure during the reporting period[169]. - The company has not issued any new securities during the reporting period[170]. Debt and Financing - The company successfully issued corporate bonds totaling 600 million RMB with a coupon rate of 3.54% on July 27, 2020[197]. - The entire raised funds of 600 million RMB were utilized to repay the principal and interest of the "15 Min Expressway" corporate bonds, in accordance with the issuance announcement[197]. - The bond "20 Min Gao 01" was listed on the Shanghai Stock Exchange on August 4, 2020, under the code 163751[197]. - The company has a stable credit rating of AA+ from China Chengxin International Credit Rating Co., Ltd., with no changes in the rating outlook[198]. - The bond has a maturity date of July 26, 2022, and pays interest annually without compounding[190]. - The company has no overdue bonds or risks associated with the termination of bond trading[193]. - All funds raised were used as planned, with no violations in the use of raised funds[197].

Financial Performance - The company's operating revenue for Q3 2021 was ¥735,665,616.78, a decrease of 11.07% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥227,971,421.07, down 4.17% year-on-year, while net profit after deducting non-recurring gains and losses was ¥224,552,828.02, a decrease of 18.34%[5]. - Year-to-date revenue reached ¥2,227,884,299.53, reflecting a significant increase of 46.81% compared to the previous year[5]. - Basic earnings per share for the quarter were ¥0.0830, a decrease of 4.27% year-on-year, while year-to-date earnings per share increased by 187.18% to ¥0.2599[7]. - The company reported a net profit of CNY 1,202,917,050.80 for the first three quarters, compared to CNY 457,656,565.47 in the previous year, indicating a substantial increase in profitability[30]. - The comprehensive income attributable to the parent company's owners was ¥675,345,898.02, compared to ¥299,708,065.31 in the same period last year, indicating an increase of about 125.5%[36]. - The total comprehensive income for the period was ¥868,503,379.01, compared to ¥384,962,898.69 in the previous year, representing an increase of approximately 125.5%[34]. Assets and Liabilities - The total assets at the end of the reporting period were ¥16,719,790,446.92, representing a 3.33% increase from the end of the previous year[7]. - Total current assets reached ¥1,787,430,219.85, up from ¥1,160,799,058.26 in the previous year[21]. - Total liabilities rose to CNY 4,084,768,159.32, compared to CNY 3,954,973,552.03, indicating an increase of approximately 3.27%[26]. - Current liabilities totaled CNY 2,012,080,962.18, up from CNY 1,490,960,404.07, marking an increase of around 35%[26]. - The equity attributable to shareholders increased to CNY 10,276,493,012.80 from CNY 9,875,587,114.78, showing a growth of about 4.07%[26]. - Long-term borrowings decreased to CNY 1,053,610,000.00 from CNY 1,252,680,000.00, reflecting a reduction of approximately 15.9%[26]. - The company’s total non-current liabilities decreased to CNY 2,072,687,197.14 from CNY 2,464,013,147.96, indicating a reduction of approximately 15.9%[26]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥1,675,799,074.07, an increase of 24.23% compared to the same period last year[5]. - Cash inflows from operating activities totaled ¥2,274,660,417.42, up from ¥1,868,500,971.80, marking an increase of around 21.7%[38]. - The net cash flow from operating activities was ¥1,675,799,074.07, compared to ¥1,348,959,956.25 in the previous year, showing a growth of approximately 24.2%[38]. - Cash outflows from investing activities amounted to ¥309,760,776.46, slightly down from ¥318,420,918.60, indicating a decrease of about 3.3%[42]. - Cash outflows from financing activities were ¥795,806,561.04, down from ¥2,160,376,415.36, indicating a decrease of approximately 63.2%[42]. - The ending balance of cash and cash equivalents was ¥918,730,501.74, compared to ¥601,558,022.92 in the previous year, reflecting an increase of about 52.7%[42]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 92,805[14]. - The largest shareholder, Fujian Provincial Highway Group Co., Ltd., holds 992,367,729 shares, accounting for 36.16% of the total shares[14]. - The second largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, representing 17.75%[14]. - The company has no pledged, marked, or frozen shares among the top ten shareholders[14]. - The top ten shareholders do not have any related party relationships or concerted actions as per the regulations[14]. Operational Insights - The company recognized other income of ¥387.14 million, mainly from deferred revenue related to station withdrawal subsidies[13]. - The company has not disclosed any significant operational issues during the reporting period[18]. - The company reported a decrease in accounts payable by RMB 128,841,000.00, indicating improved cash flow management[48].

Financial Performance - The company's operating revenue for the first half of the year reached ¥1,492,218,682.75, a 116.18% increase compared to ¥690,272,449.65 in the same period last year [23]. - Net profit attributable to shareholders was ¥485,399,786.08, marking a significant increase of 4,564.32% from ¥10,406,650.39 year-on-year [23]. - The net profit after deducting non-recurring gains and losses was ¥502,351,622.92, up 1,369.25% from ¥34,191,003.49 in the previous year [23]. - The net cash flow from operating activities was ¥1,041,568,779.46, reflecting a 63.68% increase from ¥636,338,777.85 in the same period last year [23]. - Basic earnings per share rose to ¥0.1769, a 4,555.26% increase compared to ¥0.0038 in the previous year [25]. - The weighted average return on equity increased to 4.80%, up 4.7 percentage points from 0.11% year-on-year [25]. - The company's total assets at the end of the reporting period were ¥16,702,834,668.01, a 3.23% increase from ¥16,180,632,460.62 at the end of the previous year [23]. - The net assets attributable to shareholders increased to ¥10,049,140,013.33, reflecting a 1.76% growth from ¥9,875,587,114.78 at the end of the previous year [23]. - The company reported non-recurring losses of ¥16,951,836.84, primarily due to asset disposal losses and other non-operating income adjustments [26]. Revenue Sources - The company achieved toll revenue of ¥1,470,791,770.59, a year-on-year increase of 119.63% [36]. - The operating income for the reporting period was ¥1,492,218,682.75, up 116.18% compared to the same period last year [37]. - The company continues to focus on highway investment, construction, toll collection, and operation management, with no new highway mileage added during the reporting period [31]. Financial Position - The company's financial expenses decreased by 37.50% to ¥51,154,932.10, due to a reduction in interest-bearing liabilities and interest rates [37]. - The company’s cash and cash equivalents increased by 89.57% to ¥658,268,563.20, primarily due to increased toll revenue [41]. - The management expenses rose by 51.76% to ¥39,250,458.59, driven by increased toll revenue [40]. - The company reported a fixed asset value of ¥341,149,134.50 for an office space acquisition, with the property certificate currently being processed [66]. - The total assets as of the reporting date were ¥9,561,372,418.25, up from ¥9,236,760,009.92 at the end of the previous period, marking an increase of about 3.5% [111]. Risks and Challenges - The company has outlined potential risks in its future development strategies, which investors should be aware of [7]. - The company faces economic fluctuation risks due to the ongoing global pandemic, which has created uncertainty in economic activities [49]. - Traffic diversion risks are present as the provincial highway network expands, leading to a shift in freight transport from road to rail and water [49]. - The company is focusing on enhancing its main business operations and exploring related industry investments to mitigate risks associated with its reliance on toll revenue [49]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the accuracy and completeness of the semi-annual report [5]. - The company has a commitment to transparency, with its semi-annual report available on designated websites and in specific newspapers [20]. - The company has a modern corporate governance structure, including a board of directors and various departments such as finance and audit [161]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 94,344 [75]. - The top ten shareholders hold a total of 1,634,000,000 shares, representing 58.00% of the total shares [82]. - The company has no strategic investors or general legal entities becoming top ten shareholders due to new share placements [83]. Compliance and Reporting - The semi-annual report has not been audited, but the management has declared the financial report's authenticity and completeness [5]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial status and operating results accurately [168]. - The company’s financial reports are prepared based on the assumption of going concern, ensuring the reliability of its financial information [165].

证券代码：600033 证券简称：福建高速 编号：临 2021-008 债券代码：163751 债券简称：20 闽高 01 福建发展高速公路股份有限公司 关于参加 2021 年度福建上市公司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，使广大投资者能更深入全面地了解公司 情况，本公司将参加由福建证监局与福建省上市公司协会、深圳市全景网络有限 公司举办的"2021 年度福建上市公司投资者网上集体接待日活动"。现将有关事项 公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台采取网络远程的方式举行，投资者可以登录"全景网投资者关系互动平台" （http://ir.p5w.net）参与本次投资者网上集体接待日活动，网上互动交流活动时间 为 2021 年 5 月 14 日（星期五）15:30 至 17:00。 出席本次集体接待日的人员有：公司总经理程辛钱先生、董事会秘书何高文 先生、财务总监郑建雄先生。 欢迎广大投资者积极参与。 ...

Financial Performance - Net profit attributable to shareholders reached CNY 230,868,715.49, a significant increase of 764.57% year-on-year[13] - Operating revenue surged by 225.27% to CNY 720,601,971.77 compared to the same period last year[13] - Basic earnings per share rose to CNY 0.0841, compared to a loss of CNY 0.0127 in the same period last year, marking a 762.20% increase[15] - The company reported a net profit of CNY 1,628,011,421.90 for the first quarter, up from CNY 1,509,611,543.20, representing a growth of about 7.8%[40] - The company reported a total profit of ¥387,468,676.08 for Q1 2021, contrasting with a loss of ¥37,039,426.92 in the same period last year[45] - The total comprehensive income for Q1 2021 was ¥287,849,088.71, compared to a loss of ¥52,522,610.75 in Q1 2020, reflecting improved overall performance[46] - The company reported a significant reduction in credit impairment losses, which were ¥1,220,688.83 in Q1 2021, compared to ¥178,506.14 in Q1 2020[45] Cash Flow - Net cash flow from operating activities improved to CNY 610,588,748.25, a 543.55% increase from the previous year[13] - The net cash flow from operating activities improved significantly to ¥610,588,748.25 from -¥137,658,337.60, mainly due to increased toll revenue[27] - Cash flow from operating activities generated a net inflow of CNY 610,588,748.25, a substantial improvement from a net outflow of CNY 137,658,337.60 in the previous year[54] - The cash outflow for investing activities was CNY 170,522,609.19, significantly higher than CNY 5,292,316.99 in Q1 2020[54] - The cash outflow for financing activities was CNY 18,061,320.01, compared to CNY 25,250,000.00 in the same quarter of the previous year[56] Assets and Liabilities - Total assets increased by 2.39% to CNY 16,567,448,910.98 compared to the end of the previous year[13] - Total liabilities increased to CNY 4,053,940,913.68, up from CNY 3,954,973,552.03, representing a growth of approximately 2.7%[35] - Total equity attributable to shareholders rose to CNY 10,105,822,492.10, compared to CNY 9,875,587,114.78, reflecting an increase of about 2.3%[35] - Non-current assets totaled CNY 8,827,626,700.69, slightly up from CNY 8,787,955,928.19, showing a growth of about 0.5%[39] - The total liabilities to equity ratio stands at approximately 0.32, indicating a stable leverage position[40] Shareholder Information - The total number of shareholders reached 96,248 by the end of the reporting period[18] - The top shareholder, Fujian Expressway Group Co., Ltd., holds 36.16% of the shares, totaling 992,367,729 shares[18] Operating Costs and Expenses - Operating costs increased by 29.48% to ¥247,273,077.78 from ¥190,966,720.98, driven by higher traffic volume leading to increased depreciation of road assets[24] - Management expenses surged by 78.18% to ¥18,081,121.40 from ¥10,147,403.07, attributed to increased toll revenue leading to higher industry management costs[27] - Financial expenses decreased by 47.25% to ¥22,079,929.51 from ¥41,857,146.77, mainly due to a reduction in interest-bearing debt and interest rates[27] - The total operating costs for Q1 2021 were ¥290,169,213.22, an increase from ¥244,067,570.38 in Q1 2020, indicating rising operational expenses[45] Future Outlook - The company expects significant growth in operating performance year-on-year due to the recovery of toll collection business[28] - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[58] Other Financial Metrics - The company reported a net loss from non-operating income of CNY -20,230,898.45, primarily due to various non-recurring expenses[15] - The company has not disclosed any new product developments or market expansion strategies in this report[12] - The company maintained a strong capital reserve of CNY 1,721,492,674.94, unchanged from the previous period, ensuring financial stability[40]

Financial Performance - The company's operating revenue for 2020 was ¥2,325,878,077.58, a decrease of 19.91% compared to ¥2,904,136,382.09 in 2019[27]. - Net profit attributable to shareholders for 2020 was ¥452,213,073.02, down 45.36% from ¥827,577,174.23 in 2019[27]. - The net profit after deducting non-recurring gains and losses was ¥553,569,772.51, a decrease of 35.61% compared to ¥859,657,207.41 in 2019[27]. - The company's total assets at the end of 2020 were ¥16,180,632,460.62, a decline of 5.78% from ¥17,172,450,462.63 at the end of 2019[27]. - Basic earnings per share for 2020 were ¥0.1648, down 45.36% from ¥0.3016 in 2019[28]. - The weighted average return on net assets for 2020 was 4.67%, a decrease of 4.16 percentage points from 8.83% in 2019[28]. - The net cash flow from operating activities for 2020 was ¥1,759,500,566.20, a slight decrease of 1.71% from ¥1,790,179,085.47 in 2019[27]. - The company's net assets attributable to shareholders at the end of 2020 were ¥9,875,587,114.78, an increase of 3.84% from ¥9,510,749,082.72 at the end of 2019[27]. - The company reported a non-recurring loss of ¥101,356,699.49 in 2020, compared to a loss of ¥32,080,033.18 in 2019[36]. - The company's EBITDA for 2020 was approximately ¥1.71 billion, a decrease of 27.18% compared to ¥2.34 billion in 2019[159]. Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares, based on a total share capital of 2.7444 billion shares, after allocating 10% of the net profit to statutory surplus reserves[8]. - The company will continue to implement cash dividend policies, proposing a cash dividend of CNY 1 per 10 shares for the 2020 fiscal year, amounting to 60.69% of the net profit attributable to the parent company[76]. - In 2020, the company distributed cash dividends totaling RMB 274,440,000, representing 60.69% of the net profit attributable to ordinary shareholders[79]. - The company reported a cash dividend of RMB 1 per 10 shares in 2020, compared to RMB 0.5 in 2019 and RMB 1.5 in 2018[79]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm, ensuring the accuracy and completeness of the financial report[6]. - The company’s legal representatives and financial officers have confirmed the authenticity and completeness of the annual report[7]. - The company’s board of directors and supervisory board have ensured the report's accuracy, with no absent directors affecting this assurance[10]. - The audit opinion indicates no significant misstatements were found in the financial statements, ensuring reliability for stakeholders[172]. - The company has implemented internal controls related to the depreciation of highway assets and impairment testing, which were evaluated during the audit[169]. Operational Challenges and Strategies - The company has outlined potential risks in its future development strategies, which investors should be aware of[10]. - The company is subject to a risk statement regarding forward-looking statements, indicating that future plans do not constitute a commitment to investors[9]. - The company faced significant impacts from a 79-day toll exemption policy due to the COVID-19 pandemic, affecting main business revenue[45]. - The company is facing challenges in new highway project investments due to rising costs and diminishing returns on investment[63]. - The company plans to enhance its main business through management strengthening, operational efficiency, and cost reduction measures, aiming to improve operational returns[68]. - The company is exploring both internal and external development strategies, including potential mergers and acquisitions, to solidify its main business foundation[68]. Revenue and Cost Analysis - Operating costs increased by 6.67% to CNY 1.16 billion[46]. - The company's revenue from highway tolls was CNY 2,278,642,839.21, representing a decrease of 17.03% compared to the previous year, with a gross margin of 50.98%, down 13.07 percentage points[51]. - The revenue from the Quanzhou-Xiamen Expressway was CNY 931,382,840.09, a decline of 14.51% year-on-year, with a gross margin of 51.74%, down 12.91 percentage points[51]. - The revenue from the Fuzhou-Quanzhou Expressway was CNY 1,265,648,045.98, down 16.38% year-on-year, with a gross margin of 57.46%, down 12.03 percentage points[51]. Management and Governance - The company has established a robust governance structure, including a general meeting of shareholders, a board of directors, a supervisory board, and a management team, ensuring clear responsibilities and effective operations[138]. - The board of directors includes 4 independent directors, exceeding one-third of the total number of directors, ensuring compliance with governance standards[138]. - The company has maintained a stable management structure with no significant changes in personnel during the reporting period[115]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 284.03 million CNY[113]. Employee and Workforce Management - The total number of employees in the parent company is 83, while the main subsidiaries employ 1,310, resulting in a total of 1,393 employees[132]. - The company has a diverse workforce with 569 employees holding university degrees or higher, contributing to a well-educated labor pool[132]. - Training programs are in place to enhance the capabilities of middle management and improve overall employee qualifications through various educational initiatives[134]. Future Outlook - The company provided a positive outlook for 2021, projecting a revenue growth of 25% driven by new product launches and market expansion initiatives[120]. - Future guidance indicates a focus on sustainability initiatives, with a goal to reduce carbon emissions by 25% by 2025[120]. - The company plans to focus on market expansion and new product development as part of its future strategy[190].