证券代码：600033 证券简称：福建高速 公告编号：临 2025-022 福建发展高速公路股份有限公司 2024年年度权益分派实施公告 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法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.05元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | A 股 | 2025/7/10 | － | 2025/7/11 | 2025/7/11 | 差异化分红送转：否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 6 月 18 日召开的2024年年度股东大会审议通 过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本2,744, ...

Core Viewpoint - Fujian Expressway has experienced a decline for four consecutive trading days, with a cumulative drop of -1.67% [1] Company Overview - Fujian Development Expressway Co., Ltd. was established with the approval of the Fujian Provincial Government and involves multiple founding entities including Fujian Provincial Highway Co., Ltd. and others [1] - The company is part of the broader infrastructure sector in Fujian province, focusing on highway development and management [1] Fund Activity - Huashan Fund's Huashan Ju You Selected Mixed Fund has entered the top ten shareholders of Fujian Expressway, marking a new investment in the first quarter of this year [1] - The fund has achieved a year-to-date return of 2.19%, ranking 3285 out of 4557 in its category [1] Fund Manager Profile - The fund manager, Rao Xiaopeng, has a master's degree and over 11 years of experience in the investment management industry [3][4] - Rao has held various positions in different fund management companies, including roles as a research analyst and fund manager, before joining Huashan Fund in 2015 [3][4] Fund Management Company - Huashan Fund Management Co., Ltd. was established in June 1998, with a diverse ownership structure including major shareholders such as Guotai Junan Securities and others [4]

Core Viewpoint - The legal opinion letter confirms that the 2024 annual general meeting of Fujian Development Highway Co., Ltd. is scheduled for June 18, 2025, and that the meeting's procedures and results comply with relevant laws and regulations [1][4][6]. Group 1: Meeting Announcement and Procedures - The board of directors is the convener of the meeting, which will take place at 14:30 on June 18, 2025, at a specified location in Fuzhou [4][5]. - The meeting will utilize a combination of on-site and online voting methods, with specific time slots for online voting provided [5][6]. - The legal opinion letter verifies that the meeting's convening and holding procedures are in accordance with applicable laws, regulations, and the company's articles of association [6][7]. Group 2: Attendance and Voting - A total of 405 participants, representing 1,591,338,026 shares (57.9849% of the total share capital), attended the meeting either in person or via online voting [7][8]. - The meeting's voting process involved both on-site and online votes, with results announced immediately after the voting concluded [8][9]. - The voting results showed overwhelming support for the proposals, with significant percentages of shares voting in favor [8][9][10]. Group 3: Conclusion - The legal opinion concludes that all aspects of the meeting, including the convening, attendance, and voting procedures, comply with legal and regulatory requirements, rendering the resolutions valid [13].

Meeting Overview - The shareholders' meeting was held on June 18, 2025, at Linpu Plaza, Fuzhou [1] - The attendance rate of shareholders was 57.9849% [1] - The meeting was conducted in compliance with the Company Law and Articles of Association, combining on-site and online voting [1] Voting Results - All non-cumulative voting proposals were approved with significant majority support, including: - Proposal 1: 99.4138% in favor [1] - Proposal 2: 99.4430% in favor [1] - Proposal 3: 99.4160% in favor [1] - Proposal 4: 98.8571% in favor [1] - The cash dividend proposal received unanimous support from shareholders holding over 5% of ordinary shares [2] Legal Compliance - The meeting's procedures were confirmed to be in accordance with legal regulations and the company's governing documents by the appointed lawyers [3]

证券代码：600033 证券简称：福建高速 公告编号：临 2025-021 福建发展高速公路股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议由公司董事会召集，由董事长方晓东先生主持，会议采用现场投票 和网络投票相结合的方式召开。本次会议的召集、召开和表决方式符合《公司法》 及《公司章程》的规定。 （五）公司董事、监事和董事会秘书的出席情况 1、公司在任董事11人，出席9人，董事李晟先生和杨建国先生因工作原因未 出席； （一）股东大会召开的时间：2025 年 6 月 18 日 （二）股东大会召开的地点：福州市仓山区城门镇林浦路 367 号林浦广场 5 号楼 9 层会议室 2、公司在任监事7人，出席5人，监事李文海先生和高莹女士因工作原因未 出席； 3、公司总经理钟永元先生、董事会秘书杨帆先生出席会议；财务负责人郑 建雄先生列席会议。 本次会议是否有否决议案：无 一、 会议召开和出席情况 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | ...

国浩律师（福州）事务所 关 于 福建发展高速公路股份有限公司 目 录 2024 年年度股东大会 之 法律意见书 福州市台江区望龙二路 1 号 IFC 福州国际金融中心 43 层 邮编：350004 43/F,International Financial Center,No.1 Wanglong 2nd Avenue, Taijiang District, Fuzhou,350004,P.R.China 电话/Tel: (+86)(591) 88115333 传真/Fax: (+86)(591) 8833 网址/Website:http://www.grandall.com.cn 2025 年 6 月 国浩律师（福州）事务所 股东大会法律意见书 | 一、本次股东大会的召集、召开程序 | 2 | | --- | --- | | 二、本次股东大会召集人和出席会议人员的资格 | 3 | | 三、本次股东大会的表决程序和表决结果 | 4 | | 四、结论 | 7 | 国浩律师（福州）事务所 关于福建发展高速公路股份有限公司 2024 年年度股东大会之法律意见书 致：福建发展高速公路股份有限公司 福建发展高速公路股份有 ...

Group 1 - The report highlights the steady growth in highway traffic volume, with a focus on the valuation recovery of H-shares and the systemic revaluation of A-shares, recommending specific stocks such as Zhejiang Huhangyong, Wantong Expressway, and Ninghu Expressway [3][4][32] - The railway passenger transport sector is experiencing structural changes in customer demographics, leading to a stable growth outlook, with a shift in valuation logic from PE to DCF and EV/EBITDA [3][4][56] - The railway freight sector is benefiting from the transformation of logistics and adjustments in railway freight pricing policies, with steady growth in freight volume and turnover, although the growth rate remains low [3][4][75] Group 2 - The logistics industry is being empowered by AI, which enhances traffic efficiency through the integration of traffic data models and optimization algorithms, allowing leading companies to expand their market share [3][4][105] - The report notes that the number of vehicles in China has reached 353 million by 2024, reflecting a year-on-year growth of 10.31%, indicating a robust demand for transportation services [5][11] - The report discusses the ongoing digital transformation in the railway sector, aiming for comprehensive digitization and intelligent upgrades by 2027, which will enhance operational efficiency [107][108]

Core Viewpoint - Fujian Development Highway Co., Ltd. has announced corrections to its 2023 and 2024 annual reports, clarifying that these corrections do not affect the financial statements or the operational performance for the respective years [1][7]. Summary of Corrections 1. Corrections to the 2023 Annual Report - The company corrected data in the "Management Discussion and Analysis" section regarding asset and liability analysis, specifically in the "Assets and Liabilities Status" subsection [1][4]. - Key corrections include: - Cash and cash equivalents increased to 1,149,023,312.52, representing 6.86% of total assets, up from 787,705,901.71 (4.75%), a change of 45.87% [1][3]. - Other current assets corrected to 9,864,874.77 (0.06%), up from 4,043,497.08 (0.02%), reflecting a 143.97% increase [1][3]. - Investment properties adjusted to 215,557,571.26 (1.29%), down from 222,920,050.66 (1.34%), a decrease of 3.30% [1][3]. - Construction in progress increased to 133,904,622.12 (0.80%), up from 118,201,458.75 (0.71%), a rise of 13.29% [1][3]. - Research and development expenses increased to 29,402,320.19 (0.18%), up from 16,499,864.27 (0.10%), a growth of 78.20% [1][4]. 2. Corrections to the 2024 Annual Report - Similar corrections were made in the 2024 annual report, maintaining the same structure and adjustments as the 2023 report [7][8]. - Notable changes include: - Cash and cash equivalents for 2024 reported at 1,995,529,098.57 (11.54%), an increase of 42.42% from the previous year [5][6]. - Investment properties for 2024 reported at 233,600,230.57 (1.35%), reflecting a 7.72% increase [5][7]. - Construction in progress for 2024 reported at 333,595,439.49 (1.93%), a significant increase of 59.86% [5][7]. - Other comprehensive income improved to 38,246,713.50 (0.22%), a recovery from -165,497,525.91 (-0.99%) in the previous year, indicating a change of 123.11% [6][7]. Additional Notes - The company expressed apologies for any inconvenience caused by these corrections and emphasized its commitment to enhancing the quality of information disclosure in the future [7][8].

证券代码：600033 证券简称：福建高速 编号：临 2025-020 福建发展高速公路股份有限公司 关于 2023 年、2024 年年度报告更正的公告 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法律责任。 福建发展高速公路股份有限公司（以下简称公司）分别于 2024 年 4 月 18 日、2025 年 4 月 19 日披露了公司《2023 年年度报告》《2024 年年度报告》。 经核查，公司披露的 2023 年、2024 年年度报告个别数据有误，现对相关信息进 行更正。本次更正不涉及对公司财务报表的调整，不会对公司 2023 年、2024 年 年度的经营业绩造成影响。 一、更正内容 | 项目名称 | 本期期末数 | 本期期 末数占 总资产 | 上期期末数 | 上期期末 数占总资 | 本期期末 金额较上 期期末变 | | | --- | --- | --- | --- | --- | --- | --- | | | | 的比例 | | 产的比例 | 动比例 | 情况说明 | | | | | | （%） | | | | | | （%） ...

Dividend Distribution - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares (including tax), totaling 137,220,000 yuan, based on a total share capital of 2,744,400,000 shares as of December 31, 2024[4]. - The total undistributed profits carried forward to the next year amount to 2,649,303,146.97 yuan, in addition to the mid-year dividend of 0.5 yuan per 10 shares already implemented in December 2024, resulting in an annual total of 1 yuan per 10 shares[4]. - The company plans to distribute cash dividends of 1.2 RMB per 10 shares, totaling 329,328,000 RMB for the 2023 fiscal year[102]. - The cash dividend policy states that the company aims to distribute no less than 35% of the net profit attributable to shareholders in the coming three years (2024-2026) if financial conditions allow[102]. - The company has a cash dividend policy that emphasizes reasonable returns to investors, with a minimum of 30% of average distributable profits over three years to be distributed[102]. - The company’s net profit attributable to shareholders for the last fiscal year was 780,773,084.10 RMB, with cash dividends amounting to 35.15% of this profit[106]. Financial Performance - The company achieved operating revenue of CNY 3,025,880,245.40 in 2024, a decrease of 0.78% compared to 2023[22]. - Net profit attributable to shareholders was CNY 780,773,084.10, down 13.46% year-on-year[22]. - The net profit after deducting non-recurring gains and losses was CNY 792,581,778.80, reflecting a decline of 13.98% from the previous year[22]. - The company reported a net cash flow from operating activities of CNY 2,085,568,003.67, a slight decrease of 0.69% compared to 2023[23]. - The total assets increased to CNY 17,288,268,309.17, representing a growth of 3.19% year-on-year[23]. - Basic earnings per share were CNY 0.2845, down 13.47% from the previous year[24]. - The weighted average return on equity was 6.87%, a decrease of 1.31 percentage points compared to 2023[24]. - The company reported a net profit margin improvement, with operating costs decreasing while revenue remained stable[189]. - The net profit for 2024 was CNY 719,814,025.57, down 12% from CNY 817,783,051.20 in 2023[194]. - The total profit for 2024 was CNY 895,635,077.56, a decrease of 8.4% from CNY 977,757,914.87 in 2023[194]. Operational Challenges - The company faced challenges in freight logistics demand and limited passenger growth, impacting traffic volume and toll revenue[34]. - The company is focusing on enhancing service functions and optimizing project evaluations to improve operational efficiency[35]. - The company aims to enhance operational efficiency and service quality while reducing costs, focusing on the "speeding up and improving quality" initiative as part of its development strategy for the 14th Five-Year Plan[65]. - The company faces risks from macroeconomic fluctuations, which could limit demand for transportation services, and plans to mitigate this by focusing on its core highway operations and exploring ancillary economic opportunities[68]. - The company is also exposed to policy risks related to highway tolling regulations, particularly as many highways approach the end of their tolling periods, and it will closely monitor policy developments to adapt accordingly[68]. - The company recognizes the risk of dependency on toll revenue due to its single business structure and aims to diversify by exploring investments in related industries and value chains[69]. Governance and Compliance - The company has received a standard unqualified audit opinion from Huaxing Accounting Firm, ensuring the accuracy and completeness of the financial report[4]. - The company has established a robust governance structure, ensuring compliance with regulatory requirements and maintaining independence from its controlling shareholder[72]. - The company emphasizes the importance of risk assessment in investment decisions, forming a dedicated risk control team to enhance its investment decision-making process[70]. - The board consists of 11 members, including 4 independent directors, which exceeds one-third of the total board members[74]. - The company has established four specialized committees: strategy, nomination, compensation and assessment, and audit, all of which are functioning effectively[74]. - The company has implemented strict procedures for related party transactions, ensuring fairness and transparency[75]. - The company has established a comprehensive information disclosure system to maintain transparency and protect shareholder rights[75]. - The company has not experienced any insider information leaks during the reporting period, and insider information management is conducted in an orderly manner[76]. Investments and Assets - The company has invested in Xiamen International Bank, Haixia Insurance, and Industrial Bank, yielding positive investment returns[38]. - The company’s investment in stocks increased to ¥881,360,000.00, reflecting a fair value gain of ¥135,700,000.00 during the reporting period[60]. - The total capitalized R&D investment for the period was ¥961,142.48, which is 100% of the total R&D expenditure, accounting for 0.03% of operating revenue[52]. - The company is focused on evaluating the impairment of highway assets, which are significant to its total assets[173]. - The company plans to invest in new product development and technology to enhance market competitiveness[189]. Cash Flow and Liquidity - The company reported a significant increase in cash reserves, with cash and cash equivalents reaching ¥1,995,529,098.57, a 73.67% increase from the previous period[56]. - The ending balance of cash and cash equivalents for 2024 reached CNY 1,995,529,098.57, up from CNY 1,149,023,312.52 in 2023[197]. - Operating cash inflow for 2024 was CNY 3,083,734,269.38, a slight increase from CNY 3,047,957,366.06 in 2023, reflecting a growth of approximately 1.0%[196]. - Net cash flow from operating activities for 2024 was CNY 2,085,568,003.67, down from CNY 2,100,093,096.81 in 2023, indicating a decrease of about 0.7%[196]. - Cash outflow from financing activities in 2024 totaled CNY 691,742,084.77, significantly lower than CNY 1,099,766,283.69 in 2023, showing a decrease of about 37.0%[197]. Shareholder Information - The total number of common shareholders increased to 71,559 from 67,386 in the previous month, representing a growth of approximately 3.2%[139]. - The top shareholder, Fujian Provincial Highway Group Co., Ltd., holds 992,367,729 shares, accounting for 36.16% of total shares[141]. - The second-largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 487,112,772 shares, representing 17.75% of total shares[141]. - The total number of shares held by the top ten shareholders is significant, with the largest holding being 36.16% and the smallest in the top ten at 0.47%[142]. - The company does not have any strategic investors or general corporations that became top ten shareholders through new share placements[143]. Debt and Liabilities - The company has a total interest-bearing debt of 999 million RMB at the end of the reporting period, with a year-on-year increase of 0.14%[158]. - The company issued two types of corporate bonds in 2022, with a total balance of 999 million RMB, and a portion of 600 million RMB maturing between May and December 2025[159]. - The company’s debt structure includes 600 million RMB in corporate credit bonds, which account for 100% of the interest-bearing debt[158]. - The company’s current liabilities increased significantly, with non-current liabilities due within one year rising by 1688.01% to approximately 636.84 million RMB, primarily due to an increase in bonds maturing within one year[164]. - The total liabilities to assets ratio decreased by 0.81 percentage points to 18.11%, indicating a reduction in total liabilities[166].