证券代码:600269 股票简称:赣粤高速 编号:临 2025-051 江西赣粤高速公路股份有限公司 2025 年11 月份车辆通行服务收入数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和 完整性承担个别及连带责任。 特此公告。 公司2025年11月份车辆通行服务收入为309,173,909.38元。 2025 年 11 月份车辆通行服务收入一览表 单位：元 | 昌九高速 | 112,489,830.87 | | --- | --- | | 昌樟高速 | 53,173,768.19 | | 昌泰高速 | 66,499,801.42 | | 九景高速 | 48,541,455.77 | | 彭湖高速 | 6,789,267.67 | | 温厚高速 | 6,645,068.49 | | 昌奉高速 | 9,220,277.33 | | 奉铜高速 | 5,814,439.64 | | 合计 | 309,173,909.38 | 上述数据未经审计，供投资者参考。自执行"营改增"政策后， 该通行服务收入中含增值税。 江西赣粤高速公路股份有限公司董事会 ...

Core Viewpoint - The announcement from Gansu Expressway indicates that the vehicle toll service revenue for November 2025 is approximately 309.17 million yuan, which includes VAT [1] Revenue Breakdown - The revenue from Chang-Jiu Expressway is 112.49 million yuan [1] - The revenue from Chang-Zhang Expressway is 53.17 million yuan [1] - The revenue from Chang-Tai Expressway is 66.50 million yuan [1]

Group 1 - The core point of the article is that Gansu Expressway (600269.SH) reported a vehicle toll service revenue of 309 million yuan for November 2025 [1] Group 2 - The reported revenue indicates a significant financial performance for the company in the specified month [1]

Investment Rating - The report rates the transportation industry as "Outperform" [2] Core Views - Crude oil freight rates have declined from high levels, with mixed changes in ocean freight rates. The China Import Crude Oil Composite Index (CTFI) was reported at 2321.90 points on December 4, down 7.9% from November 27. The VLCC market has seen transactions at major loading ports, with shipowners trying to maintain price levels despite a cooling market [3][14] - China Eastern Airlines has launched the world's longest one-way flight route from Shanghai to Buenos Aires, reducing travel time by over 4 hours. Additionally, a ton-class eVTOL was included in urban firefighting drills for the first time [3][16] - In November, China's express delivery volume exceeded 180 billion items for the first time, marking a new record. The first full schedule China-Europe freight train departed from Shijiazhuang [3][24] Summary by Sections Industry Hot Events - Crude oil freight rates have decreased, with the Middle East route showing a 9.76% drop. The Shanghai port's export rates to Europe and the US have also seen declines of 0.3%, 5.0%, and 4.7% respectively [14][15] - The launch of the longest flight route by China Eastern Airlines connects Shanghai to Buenos Aires, significantly shortening travel time [16][17] - The express delivery volume in China reached a record high of 180 billion items in November, reflecting strong economic vitality [24][26] High-Frequency Data Tracking - The Baltic Air Freight Price Index has increased month-on-month but decreased year-on-year. The Shanghai outbound air freight price index was reported at 5721.00 points, up 2.4% year-on-year [28] - Domestic freight flight numbers decreased by 2.03% year-on-year in November, while international flights increased by 14.88% [30] - The SCFI index for container shipping was reported at 1397.63 points, down 0.39% week-on-week and down 38.06% year-on-year [37] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [5] - Attention to the transportation demand increase driven by hydropower station construction in the Yarlung Tsangpo River downstream [5] - Investment opportunities in low-altitude economy trends, recommending CITIC Offshore Helicopter [5] - Opportunities in the highway and railway sectors, recommending Gansu Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - Investment opportunities in the cruise and ferry sectors, recommending Bohai Ferry and Haixia Shares [5] - E-commerce and express delivery investment opportunities, recommending SF Express, Jitu Express, and Yunda [5] - Opportunities in the aviation sector, recommending Air China, China Southern Airlines, and others [5]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The report highlights an upward trend in crude oil freight rates, with the China Import Crude Oil Index (CTFI) reaching 2520.07 points, an increase of 8.4% from November 20 [3][13] - The postal industry revenue surpassed the telecommunications industry for the first time in history, reaching 1.47 trillion yuan, compared to 1.467 trillion yuan for telecommunications [3][24] - The civil aviation sector showed growth in both passenger and cargo transport volumes in October, with international routes performing particularly well [3][17] Summary by Sections Industry Hot Events - Crude oil freight rates are rising, with the Middle East route seeing a 10.76% increase in rates [13] - Qifly Aviation signed a procurement agreement for 105 eVTOL aircraft with three companies in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on low-altitude logistics [15][16] - The postal industry revenue for January to October 2025 reached 1.47 trillion yuan, marking a significant milestone [24][25] High-Frequency Data Tracking - The Baltic Air Freight Price Index decreased month-on-month but increased year-on-year [26] - Domestic freight flights in October 2025 increased by 0.32% year-on-year, while international flights rose by 11.12% [32] - The express delivery business volume in October 2025 increased by 7.90% year-on-year, with total revenue reaching 131.67 billion yuan [50] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping and China Merchants Energy [5] - Attention to low-altitude economy investment opportunities, particularly in companies like CITIC Offshore Helicopter [5] - Consider investment opportunities in the express delivery sector, recommending SF Express and Jitu Express [5]

Investment Rating - The report recommends "Buy" for companies in the logistics and aviation sectors, specifically highlighting SF Holding and China Southern Airlines as key investment opportunities [2][3]. Core Insights - The logistics sector is benefiting from price increases due to reduced competition, with a notable rise in express delivery volumes during the peak season [2]. - The aviation sector is experiencing a recovery, with an increase in flight operations and passenger volumes, indicating a positive trend for airline profitability [3]. - The shipping industry shows signs of improvement, particularly in dry bulk transportation, driven by increased cargo demand and adverse weather conditions affecting vessel turnover [4]. Summary by Sections Transportation Sector Market Review - The transportation index decreased by 0.5% during the week of November 22-28, underperforming the Shanghai Composite Index, which rose by 1.6% [12]. Logistics - The express delivery sector saw a total collection volume of approximately 4.126 billion packages, a week-on-week increase of 1.65% but a year-on-year decrease of 6.63% [2]. - The report recommends SF Holding due to its valuation, operational resilience, and improved shareholder returns [2]. Aviation - The average daily flight operations increased by 4.16% year-on-year, with domestic flights up by 2.80% and international flights up by 12.41% [3]. - The report highlights the potential for profit growth in the aviation sector due to supply constraints from manufacturers and improved ticket pricing [3]. - Recommended stocks include China Southern Airlines and Air China [3]. Shipping - The Baltic Dry Index (BDI) rose to 2409 points, reflecting a week-on-week increase of 7.8% and a year-on-year increase of 62.9% [4]. - The report notes that the dry bulk market is experiencing a positive shift, with increased demand for coal and grain shipments [4]. Road and Rail - The report indicates a stable upward trend in the road transport sector, with a year-on-year increase in truck traffic on highways [5]. - The railway sector also shows positive growth, with passenger turnover increasing by 10.14% year-on-year [86].

● 本次会议是否有否决议案：无 证券代码:600269 证券简称:赣粤高速 公告编号:临2025-050 江西赣粤高速公路股份有限公司2025年第二次临时股东大会决议公告 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： 一、会议召开和出席情况 (一)股东大会召开的时间：2025年11月27日 (二)股东大会召开的地点：江西省南昌市朝阳洲中路367号赣粤大厦一楼会议厅 (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： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，董事长韩峰先生主持。会议表决方式为现场投票与网络投票相结合的方 式，符合《公司法》和《公司章程》的有关规定。 (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9人，出席8人，独立董事胡炜先生、邹荣先生以及董事刘文鹏先生以视频方式出席会 议，董事聂头龙先生因工作原因未出席会议； 2、公司在任监事5人，出席1人，监事会主席徐立红先生以及监事彭爱红先生、刘文豪先生、曹文洁女 ...

江西赣粤高速公路股份有限公司 股东会议事规则（2025 年修订） （经 2025 年第二次临时股东大会审议通过） 第一章 总则 第一条 为明确江西赣粤高速公路股份有限公司（以下 简称公司）股东会的议事程序，建立合理的法人治理结构， 规范股东会的操作程序，充分保护公司股东的权益，根据《公 司法》《证券法》《上市公司股东会规则》和《公司章程》的 有关规定，制定本议事规则。 第二条 公司股东会由全体股东组成。股东会是公司的 权力机构，依法行使下列职权： （一）选举和更换非由职工代表担任的董事，对其履职 情况进行评价，决定有关董事的报酬事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案和弥补亏损方案； （四）对公司增加或者减少注册资本作出决议； （五）对发行公司债券作出决议； （六）对公司分立、合并、解散、清算、申请破产或者 变更公司形式作出决议； （七）修改《公司章程》； （八）对公司聘用、解聘承办公司审计业务的会计师事 务所作出决议； 1 （九）审议批准《公司章程》第四十六条规定的担保事 项； （十）审议公司在一年内购买、出售重大资产超过公司 最近一期经审计总资产 30%的事项； （十一）审议 ...

江西赣粤高速公路股份有限公司 董事会议事规则（2025 年修订） （经 2025 年第二次临时股东大会审议通过） 第一章 总则 第一条 宗旨 为进一步规范江西赣粤高速公路股份有限公司（以下简 称公司）董事会的议事方式和决策程序，促使董事和董事会 有效地履行其职责，提高董事会规范运作和科学决策水平， 根据《公司法》《证券法》《上市公司治理准则》《上海证券 交易所股票上市规则》和《上海证券交易所上市公司自律监 管指引第 1 号——规范运作》等有关规定，制订本规则。 第二条 职责 董事会应当依法履行职责，确保公司遵守法律法规和 《公司章程》的规定，公平对待所有股东，并关注其他利益 相关者的合法权益。 第三条 董事会办公室 董事会下设董事会办公室，处理董事会日常事务。 证券事务代表保管董事会和董事会办公室印章。 第二章 董事会的职权 第四条 董事会职权 董事会是公司经营决策主体，发挥"定战略、作决策、 防风险"的作用，并行使下列职权： 1 （一）召集股东会，并向股东会报告工作； （二）执行股东会的决议； （三）制定投资计划，决定公司的经营计划和投资方案； （四）制定公司的年度财务预算方案、决算方案； （五）制订公司的 ...

公司章程 （2025 年修订） 江西赣粤高速公路股份有限公司 1 江西赣粤高速公路股份有限公司章程 （经 2025 年第二次临时股东大会审议通过） 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第四章 股东和股东会 第五章 公司党委 第六章 董事会 2 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第一节 股东 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会表决和决议 第一节 董事的一般规定 第二节 董事会 第三节 独立董事 第四节 董事会专门委员会 第五节 董事会秘书与董事会办事机构 第七章 总经理及其他高级管理人员 第九章 职工民主管理与劳动人事制度 第十章 通知与公告 第一节 通知 第二节 公告 第十一章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十二章 修改章程 第十三章 附则 3 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第一章 总则 第一条 为维护公司、股东、职工和债权人的 ...