Financial Performance - Net profit attributable to shareholders was CNY 248,307,001.90, down 62.61% year-on-year[18]. - Operating revenue for the first nine months was CNY 1,517,547,432.43, a decrease of 27.39% compared to the same period last year[18]. - Basic earnings per share decreased by 62.60% to CNY 0.0905[20]. - The weighted average return on net assets was 2.59%, a decrease of 4.56 percentage points compared to the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 309,180,501.37, down 53.32% year-on-year[18]. - Total revenue for Q3 2020 reached ¥827,274,982.78, an increase from ¥737,848,530.88 in Q3 2019, representing a growth of approximately 12.0%[49]. - Net profit for Q3 2020 was ¥300,598,749.13, compared to ¥286,713,969.61 in Q3 2019, reflecting a growth of approximately 4.3%[53]. - Total comprehensive income for Q3 2020 amounted to CNY 437.23 million, significantly higher than CNY 289.38 million in Q3 2019, marking an increase of approximately 51.1%[62]. - The company’s total comprehensive income for the first three quarters of 2020 was CNY 978.82 million, compared to CNY 412.25 million in the same period of 2019, representing a growth of approximately 137%[62]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 16,040,355,705.34, a decrease of 6.59% compared to the end of the previous year[18]. - Total assets decreased from CNY 17,172,450,462.63 to CNY 16,040,355,705.34, a decline of approximately 6.6%[42]. - Current assets decreased significantly from CNY 1,987,174,142.54 to CNY 1,210,925,141.00, representing a reduction of about 39%[42]. - Non-current assets also saw a decrease from CNY 15,185,276,320.09 to CNY 14,829,430,564.34, a decline of approximately 2.3%[42]. - Total liabilities decreased from CNY 5,437,747,413.88 to CNY 4,056,463,125.90, a reduction of about 25.4%[42]. - The company's equity attributable to shareholders increased from CNY 9,510,749,082.72 to CNY 9,674,683,780.03, an increase of approximately 1.7%[43]. - Total liabilities also decreased from ¥3,250,467,376.05 to ¥2,157,459,881.66, a reduction of approximately 33.6%[49]. - The company's long-term borrowings decreased from CNY 1,608,010,000.00 to CNY 1,508,940,000.00, a reduction of approximately 6.2%[42]. Cash Flow - Net cash flow from operating activities increased by 42.89% to CNY 1,348,959,956.25 for the first nine months[18]. - Operating cash inflow for the first three quarters of 2020 reached CNY 1,868,500,971.80, an increase of 17.4% compared to CNY 1,591,686,455.93 in the same period of 2019[64]. - Cash outflow from operating activities totaled CNY 519,541,015.55, a decrease of 19.8% from CNY 647,635,470.80 in the previous year[64]. - Cash inflow from financing activities amounted to CNY 597,420,000.00, with total cash outflow from financing activities reaching CNY 2,160,376,415.36[67]. - The net increase in cash and cash equivalents for the third quarter of 2020 was -CNY 532,155,334.60, compared to an increase of CNY 22,156,741.55 in the same quarter of 2019[67]. Shareholder Information - The total number of shareholders at the end of the reporting period was 101,051[24]. - The largest shareholder, Fujian Provincial Highway Group, held 36.16% of the shares[24]. Operational Highlights - The company reported a non-operating income of CNY 2,130,764.53 for the third quarter[23]. - The company anticipates significant revenue decline due to a 79-day toll exemption policy during the COVID-19 pandemic[32]. - Operating revenue decreased by 27.39% to ¥1,517,547,432.43 from ¥2,089,862,606.63, primarily due to the impact of COVID-19 on toll income[29]. - Financial expenses decreased by 29.48% to ¥101,792,993.02 from ¥144,353,833.84, due to lower interest rates and reduced interest-bearing liabilities[29]. Investment and Expenses - Investment income decreased significantly by 332.00% to -¥28,612,869.80 from -¥6,623,376.83, primarily due to prior period gains from Xiamen International Bank investments[29]. - Research and development expenses for the year totaled ¥101,792,993.02, compared to ¥144,353,833.84 in the previous year, indicating a decrease of approximately 29.4%[53]. - The company reported a significant reduction in financial expenses, down to ¥19,944,216.13 from ¥46,262,370.47, a decrease of about 56.9%[53].

Financial Performance - The company's operating revenue for the first half of the year was ¥690,272,449.65, a decrease of 48.94% compared to ¥1,352,014,075.75 in the same period last year [24]. - Net profit attributable to shareholders was ¥10,406,650.39, down 97.67% from ¥447,068,952.93 year-on-year [24]. - The basic earnings per share decreased by 97.67% to ¥0.0038 from ¥0.1629 in the same period last year [25]. - The weighted average return on equity decreased by 4.63 percentage points to 0.11% from 4.74% year-on-year [25]. - The company's toll revenue for the reporting period was CNY 66,966.01 million, a year-on-year decrease of 49.55% [36]. - The total operating revenue for the first half of 2020 was CNY 69,027.24 million, down 48.94% compared to the previous year [39]. - The net profit attributable to the parent company was CNY 1,040.67 million, a significant decline of 97.67% year-on-year [36]. - The company reported a significant reduction in management expenses to RMB 25,863,799.53 from RMB 35,026,621.05, demonstrating cost control efforts [108]. - The total comprehensive income for the period was reported at -¥107,053,780.71, contrasting sharply with a positive income of ¥320,809,661.34 in the previous period [118]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 54.67% to ¥636,338,777.85, compared to ¥411,427,840.78 in the previous year [24]. - The company's cash and cash equivalents decreased to ¥852,790,080.21 from ¥1,133,713,357.52 [95]. - Cash outflow from operating activities totaled CNY 399,253,737.68, a decrease of 12.8% compared to CNY 458,043,821.06 in the first half of 2019 [122]. - The ending balance of cash and cash equivalents was CNY 852,790,080.21, up from CNY 698,021,248.17 at the end of the first half of 2019 [125]. - The company reported a net increase in cash and cash equivalents of CNY -280,923,277.31, compared to CNY -294,935,594.85 in the previous year [125]. Assets and Liabilities - The total assets at the end of the reporting period were ¥16,240,537,613.92, a decrease of 5.43% from ¥17,172,450,462.63 at the end of the previous year [24]. - The total liabilities decreased to ¥4,693,875,202.88 from ¥5,437,747,413.88 [100]. - The company's equity decreased to RMB 6,653,679,290.82 from RMB 6,896,506,439.53, indicating a decline in shareholder value [108]. - Total current assets decreased to ¥1,434,012,706.69 from ¥1,987,174,142.54 [95]. - Total non-current assets decreased to ¥14,806,524,907.23 from ¥15,185,276,320.09 [98]. Corporate Governance and Compliance - The board of directors confirmed that the financial report is true, accurate, and complete, with no significant omissions [4]. - The company has not engaged in non-operating fund occupation by controlling shareholders or related parties [8]. - The company has not violated decision-making procedures for external guarantees [8]. - The financial report for the first half of 2020 has not been audited [5]. - The company has not disclosed any significant related party transactions during the reporting period [61]. Risk Management - The report includes a detailed description of potential risks faced by the company in future development [8]. - The impact of the COVID-19 pandemic and related government policies resulted in significant negative effects on the company's main business revenue due to toll exemptions [33]. - The company faces risks from insufficient external demand due to the global COVID-19 pandemic, affecting consumer confidence and leading to reduced economic growth forecasts by major financial institutions [47]. - The company is exploring viable development paths for expressway-related economies to enhance value chain and mitigate operational risks from macroeconomic fluctuations [50]. Investment and Development - The company continues to focus on highway investment, construction, toll collection, and operational management, leveraging its experience and competitive advantages in the industry [34]. - The company is adapting to changes in toll collection models, including a shift to vehicle-type based charging and promoting the use of electronic toll collection (ETC) systems [50]. - The company is actively pursuing transformation and development strategies to diversify its business, while managing risks associated with investment decisions and operational integration [50]. Shareholder Information - The company has a total of 106,813 common stock shareholders as of the end of the reporting period [68]. - The largest shareholder, Fujian Expressway Group Co., Ltd., holds 992,367,729 shares, representing 36.16% of the total shares [71]. - The second largest shareholder, China Merchants Road Network Technology Holdings Co., Ltd., holds 487,112,772 shares, accounting for 17.75% [71]. Accounting Policies and Financial Instruments - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position, operating results, changes in shareholders' equity, and cash flows [161]. - The company recognizes transaction costs related to mergers as expenses in the period incurred [165]. - Financial instruments are recognized and derecognized on the trade date, which is the date the company commits to buy or sell the financial asset [174]. - The company applies the expected credit loss model for impairment of financial assets, including loan commitments and financial guarantee contracts [177]. Miscellaneous - There were no significant litigation or arbitration matters reported during the reporting period [55]. - The company has not disclosed any environmental information as it does not fall under the key pollutant discharge units [65]. - The company has not implemented any significant changes in accounting policies or estimates compared to the previous accounting period [67].

Financial Performance - Net profit attributable to shareholders was CNY -34,739,384.71, representing a decline of 117.45% year-on-year[13] - Operating revenue for the period was CNY 221,536,975.33, down 66.96% from CNY 670,429,779.05 in the same period last year[13] - Basic earnings per share were CNY -0.0127, a decrease of 117.49% compared to CNY 0.0726 in the same period last year[13] - The total comprehensive income for the period was -60,036,726.75 CNY, compared to 121,397,435.46 CNY in the previous year[59] - Net profit for Q1 2020 was a loss of ¥31,865,577.79, compared to a profit of ¥264,567,878.42 in Q1 2019[52] - Operating profit for Q1 2020 was -¥36,875,755.56, a significant decline from ¥362,708,216.75 in Q1 2019[52] Revenue and Costs - Operating revenue decreased by 66.96% to ¥221,536,975.33 compared to ¥670,429,779.05 in the same period last year, primarily due to the impact of the pandemic on toll fee income[25] - Total operating costs for Q1 2020 were ¥244,067,570.38, down 16.4% from ¥291,784,675.11 in Q1 2019[49] - Management expenses reduced by 37.88% to ¥10,147,403.07 from ¥16,336,112.54, attributed to the decline in toll fee income[25] - Financial expenses for Q1 2020 were ¥41,857,146.77, down 15% from ¥49,313,239.88 in Q1 2019[52] Cash Flow - Net cash flow from operating activities improved to CNY -137,658,337.60, a 27.49% increase compared to CNY -189,842,229.81 in the previous year[13] - Cash inflows from operating activities amounted to 22,221,602.41 CNY, an increase from 15,621,070.01 CNY year-over-year[61] - Cash outflows from operating activities totaled 159,879,940.01 CNY, down from 205,463,299.82 CNY in the previous year[63] - The cash flow from financing activities resulted in a net outflow of -25,250,000.00 CNY, an improvement from -55,390,657.50 CNY year-over-year[63] Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,057,932,009.15, a decrease of 0.67% compared to the end of the previous year[13] - The company’s net assets attributable to shareholders decreased to CNY 9,455,352,665.05, down 0.58% from the previous year[13] - Total liabilities decreased from ¥5,437,747,413.88 to ¥5,375,751,571.15, a reduction of approximately 1.14%[37] - Current liabilities decreased from ¥3,262,661,562.87 to ¥3,214,080,357.35, a decrease of about 1.48%[37] - Non-current liabilities decreased from ¥2,175,085,851.01 to ¥2,161,671,213.80, a decline of approximately 0.61%[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 109,093[21] - The largest shareholder, Fujian Expressway Group Co., Ltd., held 36.16% of the shares[21] Other Financial Metrics - The weighted average return on net assets was -0.37%, a decrease of 2.51 percentage points from 2.14% in the previous year[13] - The company reported a total of CNY 79,377.68 in non-recurring gains and losses for the period[16] - Deferred income tax assets increased by 43.46% to ¥88,523,123.44 from ¥61,705,678.04, reflecting the company's tax asset situation[24] - The company reported a significant decrease in other comprehensive income, dropping to -¥18,588,542.61 from ¥2,068,490.35, mainly due to changes in the fair value of other equity investments[24]

Financial Performance - The company plans to distribute a cash dividend of 0.50 CNY per 10 shares based on a total share capital of 2.7444 billion shares, which corresponds to a total distribution of approximately 137.22 million CNY[6]. - The company has extracted 10% of the net profit for the year as statutory surplus reserves, indicating a commitment to financial prudence and shareholder returns[6]. - In 2019, the company's operating revenue reached ¥2,904,136,382.09, representing a year-on-year increase of 9.07% compared to ¥2,662,673,032.59 in 2018[26]. - The net profit attributable to shareholders was ¥827,577,174.23, up 12.82% from ¥733,512,571.27 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥859,657,207.41, reflecting an 18.73% increase from ¥724,027,422.31 in 2018[26]. - The basic earnings per share increased to ¥0.3016, a rise of 12.83% compared to ¥0.2673 in 2018[27]. - The weighted average return on equity rose to 8.83%, an increase of 0.58 percentage points from 8.25% in the previous year[27]. - The company's total assets at the end of 2019 were ¥17,172,450,462.63, a slight decrease of 0.73% from ¥17,298,921,728.72 at the end of 2018[26]. - The net cash flow from operating activities was ¥1,790,179,085.47, down 6.38% from ¥1,912,187,902.06 in 2018[26]. - The net assets attributable to shareholders increased to ¥9,510,749,082.72, a growth of 4.60% from ¥9,092,477,409.92 at the end of 2018[26]. Governance and Compliance - The company has received a standard unqualified audit report from the accounting firm, ensuring the accuracy and completeness of the financial statements[5]. - There are no non-operating fund occupations by controlling shareholders or related parties, indicating a stable financial governance structure[8]. - The company has a comprehensive governance structure with all board members present at the board meeting, reflecting strong leadership and oversight[5]. - The company has established a strong governance framework with independent directors overseeing key decisions[115]. - The management team emphasizes the importance of compliance and risk management in all operational aspects[115]. - The company has established a financial management system to ensure independent accounting and prevent interference from controlling shareholders[139]. - The board of directors and supervisory board operate in compliance with relevant laws and regulations, ensuring independent oversight of the company's operations[139]. - The company has not been subject to any penalties from securities regulatory authorities in the past three years[130]. Operational Highlights - The company achieved total operating revenue of CNY 2.904 billion, a year-on-year increase of 9.07%[43]. - Main business revenue from highway tolls was CNY 2.746 billion, up 4.84% year-on-year[43]. - Daily average traffic for Fuzhou-Quanzhou highway was 25,731 vehicles, a 6.88% increase year-on-year[42]. - Daily average traffic for Quanzhou-Xiamen highway was 43,435 vehicles, with a 6.23% year-on-year increase[42]. - Daily average traffic for Luoyuan-Ningde highway saw a significant increase of 36.63% for passenger vehicles and 67.44% for freight vehicles[42]. - The total length of operational highways managed by the company is 282 kilometers, accounting for 5.09% of the total operational highway length in Fujian Province[39]. Future Outlook and Strategy - The company has outlined potential risks in its future development strategy, emphasizing the importance of risk management in its operations[7]. - The company is focused on expanding its highway network and enhancing service capabilities in response to national transportation efficiency initiatives[41]. - The company plans to continue expanding its market presence and investing in new technologies[48]. - The company is actively researching business development strategies to promote sustainable and high-quality growth in the context of new market conditions[66]. - The company expects a significant decline in annual revenue due to the exemption of highway tolls for all vehicles during the pandemic, with the duration of this policy still uncertain[67]. - The company plans to enhance cash flow management and maintain operational funding during the toll exemption period, ensuring liquidity is not severely impacted[70]. - The company aims to optimize its business structure to mitigate risks associated with a single revenue model, emphasizing the need for diversified cash flow sources[70]. - The company is exploring transformation strategies to diversify its business model, aiming to improve decision-making and risk management capabilities[74]. Shareholder Information - The largest shareholder, Fujian Expressway Group Co., Ltd., holds 992,367,729 shares, accounting for 36.16% of the total shares[98]. - The second largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, accounting for 17.75% of the total shares[98]. - As of the end of the reporting period, the total number of ordinary shareholders is 111,255, an increase from 109,093 at the end of the previous month[96]. - The company has not reported any significant changes in its ordinary share capital structure during the reporting period[96]. Employee and Management Information - The total number of employees in the parent company is 102, while the total number of employees in major subsidiaries is 1,319, resulting in a combined total of 1,421 employees[132]. - The number of employees with a university degree or above is 559, while those with a college diploma is 562, and those with a secondary vocational education or below is 300[132]. - The company has implemented a unified performance-based salary system, ensuring that salary distribution is fair and competitive for key positions[134]. - The company has established a comprehensive training plan aimed at enhancing the skills and competencies of its workforce, with a focus on political, business, legal, and safety training[135]. Financial Management and Debt - The company maintains a credit rating of AA+ for its 2015 corporate bonds, with a stable outlook as per the tracking report by China Chengxin Securities Rating Co., Ltd.[158]. - The company's liquidity ratios decreased significantly, with the current ratio at 60.91%, down 32.17 percentage points, and the quick ratio at 60.29%, down 32.49 percentage points, primarily due to the reclassification of bonds to current liabilities[164]. - The debt-to-asset ratio improved to 31.67%, a decrease of 4.38 percentage points compared to the previous year[164]. - The company has a 100% loan repayment rate and a 100% interest payment rate, indicating strong financial health[164]. - The company reported a net value of fixed assets in highways at CNY 1,295,449.74 million, with depreciation for the year amounting to CNY 61,616.83 million[169].

Financial Performance - Operating revenue for the first nine months was ¥2,089,862,606.63, representing a year-on-year increase of 6.08%[18] - Net profit attributable to shareholders of the listed company was ¥664,151,696.62, up 9.47% from the same period last year[18] - Basic earnings per share rose to ¥0.2420, a 9.45% increase compared to ¥0.2211 in the previous year[18] - Total operating revenue for Q3 2019 was RMB 737,848,530.88, an increase of 6.2% from RMB 695,076,010.36 in Q3 2018[49] - Net profit for Q3 2019 reached RMB 286,713,969.61, representing a 4.4% increase compared to RMB 275,510,556.30 in Q3 2018[52] - The total comprehensive income for Q3 2019 was RMB 289,379,044.52, compared to RMB 276,425,883.69 in Q3 2018, marking an increase of 4.0%[54] Assets and Liabilities - Total assets at the end of the reporting period reached ¥17,701,267,513.28, an increase of 2.33% compared to the end of the previous year[18] - Total liabilities decreased from CNY 6,235,633,354.82 to CNY 5,963,724,299.07, a reduction of approximately 4.36%[40] - Current liabilities increased from CNY 1,605,449,186.54 to CNY 3,274,101,918.60, representing an increase of approximately 103.09%[40] - Non-current liabilities decreased from CNY 4,630,184,168.28 to CNY 2,689,622,380.47, a decrease of approximately 41.96%[40] - Total liabilities amounted to approximately ¥6.24 billion, with a slight decrease from ¥6.27 billion in the previous period[75] Cash Flow - The net cash flow from operating activities for the first nine months decreased by 34.37% to ¥944,050,985.13 compared to the previous year[18] - The company's operating cash flow for the first three quarters of 2019 was CNY 944,050,985.13, down 34.4% from CNY 1,438,459,428.31 in the same period of 2018[64] - Cash inflow from operating activities decreased significantly, with cash inflow totaling ¥627,321,174.50, down from ¥841,284,632.02 in the previous year, indicating a decline of 25.4%[66] - Cash outflow from financing activities totaled ¥861,895,140.79, down from ¥1,133,601,056.46 in the previous year, indicating a reduction of 24%[66] Shareholder Information - The total number of shareholders at the end of the reporting period was 111,955[23] - The top shareholder, Fujian Expressway Group Co., Ltd., held 36.16% of the shares, totaling 992,367,729 shares[23] - Total equity attributable to shareholders increased from CNY 9,092,477,409.92 to CNY 9,567,786,737.72, an increase of approximately 5.23%[40] Other Financial Metrics - Non-recurring gains and losses totaled ¥722,367.12 for the current period, with a cumulative amount of ¥1,847,420.61 for the year-to-date[20] - The weighted average return on equity increased by 0.32 percentage points to 7.15%[18] - Investment income improved by 68.84% to a loss of CNY 6,623,376.83, mainly due to a decrease in investment losses from Strait Property Insurance[29] - The company reported a financial expense of RMB 46,262,370.47 in Q3 2019, down from RMB 53,096,018.56 in Q3 2018, indicating a decrease of 6.9%[49] Changes in Receivables and Inventory - Accounts receivable increased by 122.52% to CNY 1,044,777,603.13, primarily due to an increase in toll revenue distribution[27] - Inventory increased by 137.38% to CNY 25,102,994.11, primarily due to an increase in electronic tag purchases[27] - Other receivables increased by 146.02% to CNY 64,348,853.94, attributed to an increase in dividends receivable from Xiamen International Bank[27] Comprehensive Income - Other comprehensive income rose significantly by 298,148.67% to CNY 222,531,622.96, due to the implementation of new financial instrument standards[29] - The company reported a decrease in other comprehensive income from ¥106.81 million to ¥74.61 thousand[77]

Financial Performance - The company's operating revenue for the first half of the year reached ¥1,352,014,075.75, representing a 6.04% increase compared to the same period last year [24]. - Net profit attributable to shareholders was ¥447,068,952.93, reflecting a 12.37% year-over-year growth [24]. - The net profit after deducting non-recurring gains and losses was ¥445,943,899.43, up 13.49% from the previous year [24]. - Basic earnings per share increased to ¥0.1629, a rise of 12.34% compared to the same period last year [25]. - The weighted average return on equity rose to 4.74%, an increase of 0.26 percentage points year-over-year [25]. - The company's total operating revenue for the first half of 2019 was CNY 1,352.01 million, reflecting a growth of 6.04% compared to the previous year [39]. - The net profit attributable to the parent company was CNY 447.07 million, representing a year-on-year increase of 12.37% [38]. - The company reported a significant increase in freight traffic on the Roning Expressway, with a year-on-year growth of 131.60% [38]. - Financial expenses decreased by 9.23% to CNY 98.09 million, contributing to improved overall financial performance [39]. - The company's net profit for the current period is 576,383,239.52, an increase from 508,740,886.15 in the previous period, representing a growth of approximately 13.3% [101]. - Total revenue for the current period is 536,186,599.88, compared to 522,196,170.25 in the previous period, indicating a year-over-year increase of about 2.0% [103]. Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 55.43% to ¥411,427,840.78 [24]. - The cash flow from operating activities showed a decline of 55.43%, primarily due to a reduction in toll revenue receipts [39]. - The net cash flow from operating activities was CNY 411,427,840.78, down from CNY 923,105,967.33 in the same period last year, indicating a significant decline [111]. - Cash inflows from operating activities totaled CNY 869,471,661.84, compared to CNY 1,296,807,850.73 in the previous year, showing a decrease of approximately 33% [111]. - The cash and cash equivalents at the end of the period were CNY 698,021,248.17, down from CNY 854,186,620.39 at the end of the previous period [111]. - The company incurred CNY 305,782,391.35 in taxes paid, up from CNY 239,664,099.36 in the previous period, indicating increased tax liabilities [111]. Assets and Liabilities - The company managed a total asset value of ¥17,507,617,181.78, marking a 1.21% increase from the previous year [24]. - Total current assets reached ¥1,780,160,013.60, up from ¥1,502,970,949.27 [86]. - The company's total assets as of June 30, 2019, amounted to CNY 10,452,395,800.90, compared to CNY 10,378,992,479.17 at the end of 2018, indicating a growth of about 0.7% [95]. - Total liabilities as of June 30, 2019, were CNY 3,492,882,582.90, an increase from CNY 3,435,722,043.51 at the end of 2018 [97]. - The company's total non-current liabilities decreased to CNY 4,449,644,039.52 from CNY 4,630,184,168.28 year-over-year [91]. - The company's total liabilities and equity at the end of the reporting period stand at 11,448,164,169.69, up from 10,548,093,811.22, marking a growth of about 8.5% [130]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 114,406 [69]. - The top ten shareholders held a total of 1,637,000,000 shares, representing 59.91% of the total shares [69]. - Fujian Expressway Group Co., Ltd. is the largest shareholder, holding 992,367,729 shares, which is 36.16% of the total [69]. - The second largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, accounting for 17.75% [69]. - The company has not experienced any changes in its share capital structure during the reporting period [69]. Corporate Governance and Compliance - The report period's financial statements have not been audited, ensuring transparency in financial reporting [5]. - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the report's integrity [4]. - The company has not made any changes to its information disclosure practices during the reporting period [20]. - The company has confirmed no non-operational fund occupation by controlling shareholders or related parties [8]. - The company has not disclosed any significant related party transactions during the reporting period [62]. - There have been no changes in accounting policies or estimates that would impact the financial statements compared to the previous accounting period [66]. - The company has not reported any major accounting errors that require restatement during the reporting period [66]. - The company has not engaged in any significant asset acquisitions or disposals during the reporting period [62]. - The company has confirmed its ability to continue as a going concern for the next 12 months [160]. Risk Management - The company faces macroeconomic risks due to ongoing trade tensions and global economic slowdown, which may impact highway traffic volumes [52]. - The company is implementing operational management measures, including institutional reforms and cost reduction strategies, to mitigate risks associated with economic downturns [52]. - The company is focusing on refining its investment strategies and risk management processes to navigate potential challenges in its expansion efforts [52]. - The company has detailed risk factors and countermeasures in the board report regarding future development [8]. Investment and Future Outlook - The company is focusing on expanding its business through investments in highway assets and exploring new profit growth points, such as investments in financial institutions [31]. - The company's future plans and strategic developments are subject to investment risks, as stated in the forward-looking statements [7]. - The company’s future outlook remains cautious, with no specific guidance provided for the upcoming periods [152]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position as of June 30, 2019 [161]. - The company adheres to the accrual basis of accounting, except for certain financial instruments [159]. - The company’s accounting currency is RMB, which is used for all financial reporting [163]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a non-common control merger [170]. Operational Performance - The company operates a total of 282 kilometers of toll highways, with no new toll road mileage added during the reporting period [31]. - The average daily passenger vehicle traffic on the Fuyuan Expressway was 25,879 vehicles, up 7.62% year-on-year, while the average daily freight vehicle traffic increased by 2.18% [38]. - The company is adapting to industry trends by promoting the use of electronic toll collection systems and enhancing the efficiency of highway operations [31].

证券代码：600033 证券简称：福建高速 编号：临 2019-013 债券代码：122431 债券简称：15闽高速 福建发展高速公路股份有限公司 关于参加 2019 年福建辖区上市公司投资者集体接待日活动 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。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、 融资计划、股权激励、可持续发展等投资者所关心的问题，公司定于 2019 年 7 月 18 日下午 14:00-17:00 参加由福建证监局协同深圳市全景网络有限公 司组织开展的 2019 年福建辖区上市公司投资者集体接待日活动。现将有关 事项公告如下： 本次集体接待日活动将在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 ·路 演 天 下 " 网 站 （http://rs.p5w.net/）或关注微信公众号：全景财经（微信号：p5w2012）， 参与公司本次投资者集体接待日活动，活动时间为 2019 年 7 月 18 日（ ...

Financial Performance - Net profit attributable to shareholders increased by 8.38% to CNY 199,116,506.84 year-on-year[13] - Operating revenue rose by 7.47% to CNY 670,429,779.05 compared to the same period last year[13] - Basic earnings per share increased by 8.52% to CNY 0.0726[13] - Net profit after deducting non-recurring gains and losses increased by 10.36% to CNY 198,416,477.37[13] - Total operating revenue for Q1 2019 was CNY 670,429,779.05, an increase of 7.3% from CNY 623,850,538.39 in Q1 2018[44] - Net profit for Q1 2019 reached CNY 264,567,878.42, compared to CNY 240,981,257.95 in Q1 2018, marking an increase of 9.8%[44] - The basic earnings per share for Q1 2019 was CNY 0.0726, up from CNY 0.0669 in Q1 2018, indicating a growth of 10.4%[46] - Net profit for the period reached ¥104,004,141.09, compared to ¥84,807,124.13 in the previous year, marking an increase of about 22.6%[50] Assets and Liabilities - Total assets increased by 2.37% to CNY 17,709,769,671.44 compared to the end of the previous year[13] - The total current assets increased to CNY 1,925,382,260.16 from CNY 1,502,970,949.27, reflecting a strong liquidity position[28] - Total liabilities reached ¥6,257,787,624.75, up from ¥6,235,633,354.82, representing an increase of around 0.35%[33] - Total liabilities amounted to CNY 3,428,363,839.20, slightly down from CNY 3,435,722,043.51 in the previous period[38] - Shareholders' equity rose to ¥11,451,982,046.69 from ¥11,063,288,373.90, marking an increase of about 3.51%[33] - The company’s total assets reached CNY 10,599,764,210.32, an increase from CNY 10,378,992,479.17[38] - The company’s total liabilities increased, with a notable rise in interest-bearing debt, reflecting ongoing financing activities[50] Cash Flow - Net cash flow from operating activities decreased by 143.85% to -CNY 189,842,229.81 compared to the previous year[13] - The cash flow from investing activities improved by 90.04%, with a net outflow of CNY 9,324,002.82 compared to CNY 93,613,694.49 in the previous period[23] - Cash flow from operating activities showed a net outflow of ¥189,842,229.81, a decline from a net inflow of ¥432,887,348.57 in the same quarter last year[52] - The company’s cash flow from operating activities showed improvement, contributing positively to the overall financial health[44] - The company incurred financial expenses of ¥25,600,473.18, slightly up from ¥24,984,561.59, with interest expenses rising to ¥27,699,344.76 from ¥26,401,456.46[50] Shareholder Information - The total number of shareholders at the end of the reporting period was 117,864[16] - The largest shareholder, Fujian Expressway Group Co., Ltd., held 36.16% of the shares[16] Other Income and Expenses - The company reported a total of CNY 800,590.12 in other non-operating income[15] - The company reported a significant decrease in other income, dropping by 69.93% to CNY 1,631,725.30 compared to CNY 5,426,993.14, mainly due to reduced road compensation income[23] - The company paid ¥30,390,657.50 in dividends and interest, down from ¥38,337,324.51 in the previous year[55] Financial Health and Stability - The total liabilities and equity structure remained stable, ensuring the company’s financial health amidst operational changes[28] - The company has not reported any significant changes in its commitments or forecasts for the upcoming reporting period[23] - The company expects no significant impact on its financial position, operating results, or cash flows due to the accounting policy change[72] - The company’s total equity remains robust, supported by stable asset growth and controlled liabilities[64] Changes in Financial Reporting - The company executed new financial instrument standards, leading to a reclassification of impairment losses to "credit impairment losses"[23] - The company reclassified available-for-sale financial assets, reducing them by ¥997,500,000.00 and increasing other equity instruments by ¥1,139,810,000.00[72] - The audit report is not applicable for the current period[77]

Financial Performance - The company reported a net profit for the year, with 10% of the net profit allocated to statutory surplus reserves, indicating a commitment to financial prudence and shareholder returns [7]. - The company's operating revenue for 2018 was CNY 2,662,673,032.59, representing a year-on-year increase of 7.61% compared to CNY 2,474,266,701.68 in 2017 [30]. - The net profit attributable to shareholders for 2018 was CNY 733,512,571.27, an increase of 11.78% from CNY 656,193,510.29 in 2017 [30]. - The net cash flow from operating activities for 2018 was CNY 1,912,187,902.06, up 8.72% from CNY 1,758,843,679.06 in 2017 [30]. - The basic earnings per share for 2018 was CNY 0.2673, reflecting an increase of 11.79% from CNY 0.2391 in 2017 [31]. - The weighted average return on equity for 2018 was 8.25%, an increase of 0.59 percentage points from 7.66% in 2017 [31]. - The company achieved total operating revenue of RMB 2.663 billion in 2018, representing a year-on-year growth of 7.61% [48]. - The company’s net profit reached RMB 958 million, marking an 11% increase compared to the previous year [48]. - The company reported a revenue increase of 15% year-over-year, reaching $1.2 billion in the latest quarter [128]. - The total operating revenue for the period reached ¥2,662,673,032.59, representing an increase from ¥2,474,266,701.68 in the previous period, which is approximately a 7.6% growth [196]. Dividend Distribution - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares based on a total share capital of 2.7444 billion shares, which corresponds to a total distribution of approximately 411.66 million CNY [7]. - In 2018, the company distributed a cash dividend of 1.5 RMB per 10 shares, totaling 411,660,000 RMB, which represents 56.12% of the net profit attributable to ordinary shareholders [83]. - In 2017, the cash dividend was 1.2 RMB per 10 shares, amounting to 329,328,000 RMB, accounting for 50.19% of the net profit attributable to ordinary shareholders [83]. - In 2016, the cash dividend was 1.5 RMB per 10 shares, totaling 411,660,000 RMB, which was 61.34% of the net profit attributable to ordinary shareholders [83]. - The company has not proposed any cash profit distribution plan during the reporting period despite having positive distributable profits [83]. Risk Management - The company has acknowledged the existence of non-operating fund occupation by controlling shareholders and their related parties, which poses a potential risk to financial stability [9]. - The company emphasizes the importance of risk awareness regarding forward-looking statements, advising investors to consider potential investment risks [8]. - The company has outlined various risk factors in its board report, indicating a proactive approach to identifying and mitigating potential challenges [9]. - The company acknowledges risks from macroeconomic fluctuations and plans to optimize investment layout to mitigate operational risks [78]. - The company faces traffic diversion risks due to the expansion of the provincial highway network and plans to enhance fee source management and service quality [78]. Operational Efficiency - The company is focused on expanding its market presence and enhancing operational efficiency through strategic initiatives and potential mergers and acquisitions [9]. - The company is committed to ongoing research and development of new technologies and products to improve service offerings and operational capabilities [9]. - The company is focusing on optimizing its development strategy to enhance sustainable growth and expand investment opportunities [41]. - The company is focusing on diversifying operations and increasing external investments to seek new profit growth points [64]. - The company is adapting to changes in the industry, including the promotion of self-service tolling and cashless payment technologies [71]. Corporate Governance - The company has established a high level of corporate governance, with a clear structure involving the shareholders' meeting, board of directors, supervisory board, and management team [145]. - The company has maintained independence from its controlling shareholder, ensuring no interference in decision-making or operational activities [145]. - The company has implemented a robust investor relations management system, ensuring timely responses to investor inquiries and maintaining communication channels [148]. - The company completed the election of a new board of directors and supervisory board, adjusting key positions and revising the articles of association to enhance governance effectiveness [148]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2018 [175]. Financial Position - The total assets at the end of 2018 were CNY 17,298,921,728.72, a decrease of 1.91% from CNY 17,635,189,559.25 at the end of 2017 [30]. - The total liabilities decreased to ¥6,235,633,354.82 from ¥7,087,095,748.03, showing a reduction of about 12% [191]. - The total equity increased to ¥11,063,288,373.90 from ¥10,548,093,811.22, marking an increase of approximately 5% [191]. - The company's financial expenses were reported at ¥213,494,336.39, down from ¥247,578,378.88, reflecting a decrease of about 13.8% [196]. - The company reported a significant increase in other receivables, rising to ¥26,155,631.02 from ¥24,413,166.79, which is an increase of about 7% [186]. Employee Management - The total number of employees in the parent company and major subsidiaries is 1,441, with 649 in the parent company and 792 in major subsidiaries [138]. - The company has a total of 268 financial personnel, 603 toll personnel, and 210 road administration personnel among its employees [138]. - The company’s compensation policy considers operational performance and individual performance, ensuring a fair and competitive salary structure [140]. - The company has implemented a unified performance-based compensation system to motivate employees effectively [140]. - The company plans to enhance training programs focusing on management, frontline staff education, and technical personnel development to support high-quality growth [141].

Financial Performance - Operating revenue for the first nine months reached CNY 1,970,133,097.60, reflecting a growth of 6.67% year-on-year[7] - Net profit attributable to shareholders of the listed company was CNY 606,718,764.12, an increase of 2.87% compared to the same period last year[7] - Basic earnings per share increased by 2.89% to CNY 0.2211[7] - Net profit for the period was CNY 275,510,556.30, compared to CNY 231,371,329.68 in the same period last year, reflecting an increase of about 19.1%[27] - The net profit attributable to the parent company for Q3 2018 was ¥208,875,477.40, an increase from ¥175,699,048.94 in the same period last year, representing a growth of approximately 18.7%[28] - The total comprehensive income attributable to the parent company for Q3 2018 was ¥209,790,804.79, compared to ¥175,699,048.94 in Q3 2017, reflecting an increase of about 19.4%[29] - The operating revenue for the first nine months of 2018 reached ¥806,849,042.09, up from ¥736,016,072.16 in the same period last year, indicating a growth of approximately 9.5%[30] - The operating profit for Q3 2018 was ¥191,029,781.24, compared to ¥156,466,380.95 in Q3 2017, marking an increase of around 22.1%[31] - The total profit for Q3 2018 was ¥190,962,582.93, up from ¥156,608,677.47 in Q3 2017, which is an increase of about 21.9%[31] - The net profit for the first nine months of 2018 was ¥546,888,249.69, compared to ¥522,459,744.03 in the same period last year, showing a growth of approximately 4.7%[32] - Basic earnings per share for Q3 2018 were ¥0.0761, compared to ¥0.0640 in Q3 2017, reflecting an increase of about 18.4%[29] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 1,438,459,428.31, up by 5.61% year-on-year[7] - Operating cash inflow for the period reached CNY 1,960,573,544.48, an increase of 2.6% compared to CNY 1,910,878,132.74 in the previous year[33] - Net cash flow from operating activities amounted to CNY 1,438,459,428.31, up from CNY 1,362,061,462.06, reflecting a growth of 5.6% year-over-year[34] - Cash inflow from investment activities was CNY 43,176,597.42, a decrease of 44.5% from CNY 77,847,481.53 in the same period last year[34] - Net cash outflow from investment activities was CNY 95,350,057.35, compared to a smaller outflow of CNY 27,828,233.39 in the previous year[34] - Cash flow from financing activities resulted in a net outflow of CNY 598,766,367.70, an improvement from the outflow of CNY 806,638,209.91 in the prior year[37] - The ending balance of cash and cash equivalents increased to CNY 951,610,443.52, compared to CNY 896,758,835.77 at the end of the previous year[34] - Total cash inflow from operating activities was CNY 841,284,632.02, up from CNY 762,378,284.88, indicating a growth of 10.5%[36] - The company reported a net cash flow from operating activities of CNY 649,200,317.34, an increase of 16.4% from CNY 557,781,021.47 in the previous year[36] - Cash inflow from financing activities was CNY 247,650,000.00, significantly higher than CNY 17,650,000.00 in the same period last year[36] - The company’s cash and cash equivalents increased by CNY 211,343,313.52, compared to a modest increase of CNY 22,937,120.89 in the previous year[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,419,688,314.66, a decrease of 1.22% compared to the end of the previous year[7] - Total liabilities decreased to CNY 6,527,500,924.26 from CNY 7,087,095,748.03, indicating a reduction of 7.89%[20] - Total assets decreased from CNY 10,588,051,642.89 at the beginning of the year to CNY 10,363,840,337.90 by the end of the period, a decline of approximately 2.13%[24] - Current assets increased significantly from CNY 677,864,871.20 to CNY 958,880,375.92, representing an increase of about 41.5%[24] - Total liabilities decreased from CNY 3,911,919,074.42 to CNY 3,470,157,383.01, a reduction of approximately 11.3%[24] - The total owner's equity increased from CNY 6,676,132,568.47 to CNY 6,893,682,954.89, reflecting a growth of approximately 3.2%[25] - The total equity attributable to shareholders increased to CNY 8,968,560,781.76 from CNY 8,691,179,880.91, reflecting a growth of 3.19%[21] Investments and Other Income - Investment income plummeted by 346.31% to a loss of CNY 21,255,873.75 compared to a gain of CNY 8,629,672.92 in the same period last year[14] - Long-term equity investments decreased from CNY 2,290,512,000.66 to CNY 2,211,849,666.22, a decline of approximately 3.4%[24] - The company has not disclosed any new product or technology developments in this report[7] - There are no significant mergers or acquisitions reported during this period[7] - The company completed the liquidation of its wholly-owned subsidiary, Fujian Lushun Highway Maintenance Engineering Co., Ltd., during the reporting period[15] - The financial expenses for the first nine months of 2018 were ¥74,971,910.68, down from ¥88,904,014.09 in the same period last year, indicating a decrease of approximately 15.7%[30] - Investment income for the first nine months of 2018 was ¥226,920,245.30, compared to ¥247,809,672.92 in the same period last year, representing a decrease of about 8.4%[30]