山东高速股份有限公司 2024 年年度股东大会 二〇二五年五月 目录 山东高速股份有限公司 2024 年年度股东大会 目录 | 会议通知 | 1 | | --- | --- | | 会议议程 | 6 | | 议案一：2024 年度董事会工作报告 8 | | | 议案二：2024 年度监事会工作报告 15 | | | 议案三：2024 年度财务决算报告 18 | | | 议案四：2025 年度财务预算方案 20 | | | 议案五：2024 年度利润分配的方案 22 | | | 议案六：2024 年年度报告及其摘要 23 | | | 议案七：关于选聘立信会计师事务所（特殊普通合伙）为公司 2025 | 年度国内审 | | 计机构的议案 | 37 | | 议案八：2025 年度投资计划 38 | | | 议案九：关于预计 2025 年度日常关联交易的议案 | 40 | | 议案十：关于预计 2025 年度公司及子公司提供担保额度的议案 | 63 | | 议案十一：关于 2024 年度董事薪酬分配的方案 | 71 | | 议案十二：关于 2024 年度监事薪酬分配的方案 | 73 | | 议案十三：关于以集中竞价交 ...

新华社北京5月23日电（记者邵琨、童昊、袁敏）"项目串联起摩洛哥政治中心、经济中心及沿途工业城市，建成后将提升当地高速公路通行能 力，缓解交通拥堵。"山东高速集团有限公司摩洛哥项目土建二标段项目经理刘凯说。 这几天，刘凯正和摩洛哥员工费撒·哈费迪一起，搭建项目临时用房，评估土方开挖、围栏设置等施工阶段可能存在的职业和环境风险，对当地人 员进行施工作业培训和安全意识宣导。 4月21日，在阿尔及利亚北部麦迪亚省，车辆在南北高速公路上行驶。新华社发 面对部分阿拉伯国家特殊的气候环境、复杂的地质条件，中国企业用"中国方案"破解出海工程困局。近日，中国建筑股份有限公司承建的埃及新 行政首都中央商务区项目P7标段迎来重要建设节点——总高100.5米的20层双子楼正在紧锣密鼓地进行内装收尾和机电调试验收，预计将于今年6 月启动分阶段验收移交。 项目施工团队克服了沙漠地区高温和大风等恶劣环境挑战，借鉴中国国内项目施工经验，在百米高建筑上顺利完成1万多块、总面积超10万平方米 的幕墙板块安装，成为埃及新行政首都中央商务区项目建设过程中第一个完成主楼双封顶的参建单位，展现了中国企业在复杂环境下的施工能力 和效率。 在阿尔及利亚， ...

1. Report Industry Investment Rating - No relevant content provided. 2. Core Viewpoints of the Report - The report analyzes Shandong provincial state - owned capital investment and operation companies from four dimensions: establishment background and process, positioning and consolidated business directions, assets and profitability, and outstanding bonds and bond valuations [2]. - Shandong provincial state - owned capital investment and operation companies' construction process can be divided into three stages: transferring state - owned capital to the provincial social security fund (2014 - 2017), introducing Shandong Guohui and transferring 20% of social security funds to it (2018 - 2020), and restructuring the social security fund council into Caixin Company and reorganizing the provincial investment and operation platforms (2020 - present) [2][8][9]. - These companies can be classified into five types according to their functions and business directions: state - owned capital operation companies, diversified industrial investment companies, focused industrial investment companies, financial investment companies, and policy - oriented investment companies [3][15]. - The asset scale of 12 provincial state - owned capital investment and operation companies in Shandong is significantly differentiated, and the asset structure varies greatly due to different functional positioning and business segments. Their profitability is good but has been under pressure in recent years [4][31][43]. - The outstanding bonds are mainly public bonds, and the scale is also significantly differentiated. Shandong Development, Shandong Guotou, Shandong Land, Shandong Steel Group, and Shandong High - speed have relatively low weighted ChinaBond valuation yields [5][52]. 3. Summary According to the Directory 3.1 Emergence: Establishment of Shandong Provincial Investment and Operation Companies - In 2013, the Third Plenary Session of the 18th Central Committee proposed to reform the state - owned capital authorization and operation system. Shandong Province launched a new round of state - owned enterprise reform [6]. - In 2014, Shandong issued the "26 Articles on Shandong State - owned Enterprise Reform", and in 2015, it passed the "1 + 5" documents, which jointly formed the top - level design for the construction of Shandong's state - owned investment and operation platforms [7]. - The construction process of Shandong provincial state - owned capital investment and operation companies has three stages: transferring state - owned capital to the social security fund, introducing Shandong Guohui, and restructuring and integrating platforms [2][8][9]. 3.2 Anchoring Direction: Company Positioning and Consolidated Business Directions - Companies are divided into five types: state - owned capital operation companies (e.g., Shandong Guotou), diversified industrial investment companies (e.g., Hualu Group, Lushang Group, Shandong Guohui), focused industrial investment companies (e.g., Shandong Energy, Shandong Gold, Shandong High - speed, Shandong Steel Group), financial investment companies (e.g., Luxin Group), and policy - oriented investment companies (e.g., Shandong Land, Shandong Development, Shandong Finance) [3][15]. - Each type of company has its own core business and development strategy. For example, Shandong Guotou focuses on IT business, Hualu Group on high - end chemical industry, and Luxin Group on financial services [19][20][23]. 3.3 Financial Perspective: Company Assets and Profitability 3.3.1 Asset Dimension - Asset scale is significantly differentiated, divided into four echelons. Shandong High - speed and Shandong Energy have over - trillion - yuan asset scales, while Shandong Development has the smallest scale [31]. - Asset composition varies. There are four types based on the consolidated statements: assets mainly formed by industrial subsidiaries' businesses, financial assets and long - term equity investments in financial subsidiaries, assets mainly formed by equity investments, and assets mainly formed by government - function infrastructure and its investment and financing services [32][34][35]. 3.3.2 Profitability Dimension - The overall profitability of 12 companies is good but has been under pressure in recent years. Since 2022, the overall revenue growth has slowed down, and the net profit has declined [43]. - In terms of revenue structure, 7 companies have more retained operating profits, 4 companies' profits mainly come from investment income, and Shandong Steel's investment income is an important source of profit due to industry downturn [44]. 3.4 Bond Market: Outstanding Bonds and Bond Valuation Overview - Outstanding bonds are mainly public bonds, and the scale is significantly differentiated. Shandong High - speed has the highest outstanding bond scale, while Shandong Development and Hualu Group have the smallest [52]. - Shandong Development, Shandong Guotou, Shandong Land, Shandong Steel Group, and Shandong High - speed have relatively low weighted ChinaBond valuation yields, less than 2% [52].

债券代码：148746 债券简称：24 山路 01 山东高速路桥集团股份有限公司 本公司及董事会全体成员保证信息披露的真实、准确、完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 债券名称：山东高速路桥集团股份有限公司 2024 年面向专业投资者公开发 行公司债券（第一期）（以下简称"本期债券"） 债券代码：148746.SZ 证券代码：000498 证券简称：山东路桥 公告编号：2025-46 债券简称：24 山路 01 债权登记日：2025 年 5 月 26 日 债券付息日：2025 年 5 月 27 日 债券除息日：2025 年 5 月 27 日 凡在 2025 年 5 月 26 日（含）前买入并持有本期债券的投资者享有本次派发 的利息；2025 年 5 月 26 日（含）前卖出本期债券的投资者不享有本次派发的利 息。 "发行人"）于 2024 山东高速路桥集团股份有限公司（以下简称"本公司"、 年 5 月 27 日发行的山东高速路桥集团股份有限公司 2024 年面向专业投资者公 开发行公司债券（第一期）至 2025 年 5 月 27 日将期满 1 年。根据《山东高速路 桥集团股份有限公司 2 ...

证券代码：600350 证券简称：山东高速 编号：2025-038 息发行工作，该募集资金已到达公司指定账户，现将有关发行情况公告如下： 山东高速股份有限公司 2025 超短期融资券名称 超短期融资券简称 25 鲁高速股 SCP002 | 年度第二期超短期融资券 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 超短期融资券代码 012581197 | | | | 超短期融资券期限 | | | 177 | 天 | | | 起息日 年 5 | 2025 | 月 | 21 日 | 兑付日 | 2025 | 年 | 11 月 | 14 | 日 | | 100,000.00 计划发行总额 | | | 万元 | 实际发行总额 | | 100,000.00 | | 万元 | | | 发行利率 1.49% | | | | 发行价格 | 100.00 | | 元/佰元面值 | | | | 申购情况 | | | | | | | | | | | 合规申购家数 | | 3 | | 合规申购金额 | | 26,000 ...

证券代码：600350 证券简称：山东高速 编号：2025-038 经 2024 年 5 月 9 日召开的公司 2023 年年度股东大会审议批准，公司按照中 国银行间市场交易商协会（下称"交易商协会"）的相关规定，向交易商协会申 请统一注册非金融企业债务融资工具，具体包括超短期融资券、短期融资券、中 期票据（含长期限含权中期票据）、PPN（非公开定向债务融资工具）和 ABN（资 产支持票据）等，在中国银行间市场交易商协会注册有效期内一次或择机分期发 行。（相关决议公告详见《中国证券报》《上海证券报》《证券时报》《证券日 报》及上海证券交易所网站）。 2025 年 5 月 21 日，公司已完成 2025 年度第二期 10 亿元超短期融资券的起 息发行工作，该募集资金已到达公司指定账户，现将有关发行情况公告如下： | 山东高速股份有限公司 2025 超短期融资券名称 年度第二期超短期融资券 | 超短期融资券简称 | 25 鲁高速股 SCP002 | | --- | --- | --- | | 012581197 | 超短期融资券期限 | 177 天 | | 2025 年 5 月 21 日 | 兑付日 | 2025 ...

债券代码：127083 债券简称：山路转债 广发证券股份有限公司 关于山东高速路桥集团股份有限公司回购公司股份方案的 临时受托管理事务报告 广发证券股份有限公司（以下简称"广发证券"）作为山东高速路桥集团股 份有限公司（以下简称"山东路桥"、"公司"）向不特定对象发行可转换公司债 券的受托管理人，持续密切关注对债券持有人权益有重大影响的事项。根据《公 司债券发行与交易管理办法》 《深圳证券交易所公司债券上市规则（2023 年修订）》 《公司债券受托管理人执业行为准则》等相关规定及受托管理人与发行人签订的 《受托管理协议》的约定，现就下述重大事项予以报告。 根据发行人 2025 年 4 月 29 日披露《山东高速路桥集团股份有限公司关于回 购公司股份方案的公告》，发行人计划回购股份并注销，本次回购方案已于 2025 年 5 月 19 日通过发行人股东大会审议通过，具体情况如下： 一、回购股份方案基本情况 （一）回购股份的目的及用途 基于对资本市场及公司未来发展的信心，综合考虑公司近期股票价格、经营 财务状况、未来盈利能力和发展前景等，为维护公司全体股东利益，公司拟以自 有资金或/及金融机构借款通过集中竞价交方式 ...

公司已向本所律师保证，公司所提供的所有文件正本及副本均为真实、完整， 公司已向本所律师披露一切足以影响本法律意见书出具的事实和文件，且无任何 隐瞒、遗漏之处。 本所律师同意将本法律意见书作为本次股东大会公告材料，随其他须公告的 文件一起公告，并依法对本所律师在其中发表的法律意见承担责任。 本法律意见书仅供公司为 2024 年度股东大会之目的而使用，未经本所同意， 任何人不得用于任何其他目的。 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）及中国证券监督管理委员会《上市 公司股东会规则》（以下简称"《股东会规则》"）、《深圳证券交易所上市公 司股东会网络投票实施细则》等相关法律、行政法规、部门规章、规范性文件和 《山东高速路桥集团股份有限公司章程》（以下简称"公司章程"）的规定，国 浩律师（济南）事务所（以下简称"本所"）接受山东高速路桥集团股份有限公 司（以下简称"公司"）之委托，指派律师出席了公司于 2025 年 5 月 19 日召开 的 2024 年度股东大会（以下简称"本次股东大会"），并就本次股东大会的有 关事项出具本法律意见书。 为出具本 ...

Investment Rating - The report maintains an "Overweight" rating for the transportation sector [2]. Core Insights - The aviation sector is expected to see improvements in both volume and pricing, with optimistic expectations continuing to develop. High passenger load factors are anticipated to drive ticket prices upward, supported by regulatory measures from the Civil Aviation Administration [4][5]. - The shipping industry is poised for a dual increase in volume and pricing due to multiple catalysts, including replenishment demand and seasonal peaks. The report highlights the potential for significant price increases in the shipping sector [5][6]. Summary by Sections Investment Highlights - Key companies recommended for investment include Spring Airlines, China Eastern Airlines, and China Southern Airlines, which are expected to show strong performance due to their operational resilience and market positioning [11]. - The report emphasizes the importance of infrastructure improvements and policy changes that could benefit the transportation sector, particularly in aviation and shipping [4][5]. Operational Tracking - Data from major airlines shows a positive trend in passenger traffic and load factors, with Southern Airlines reporting a 4.91% increase in available seat kilometers (ASK) in Q1 2025 compared to the previous year [14]. - The report tracks significant increases in cargo volumes across various transportation modes, indicating a robust recovery in logistics and freight services [5][6]. Aviation Data Tracking - The report provides detailed metrics on airline performance, including ASK and revenue passenger kilometers (RPK), showing growth across major carriers. For instance, China Eastern Airlines reported a 10.89% increase in RPK in Q1 2025 [14]. - The average ticket price for economy class during the Dragon Boat Festival is projected to rise, reflecting a strong demand environment [4]. Shipping Data Tracking - The report notes a 9.98% week-on-week increase in the SCFI index, indicating a positive trend in shipping rates, despite a year-on-year decline of 41.31% [5]. - The report highlights the impact of tariff changes on shipping demand, particularly in the US-China trade context, which is expected to stimulate replenishment and seasonal demand [5]. Logistics Data Tracking - The report tracks significant growth in express delivery volumes, with a 15.83% year-on-year increase in the number of packages collected during early May 2025 [5]. - The logistics sector is benefiting from improved cross-border trade conditions, which are expected to enhance the performance of logistics companies [5].

证券代码：600350 证券简称：山东高速 公告编号：2025-037 山东高速股份有限公司 关于股东大会开设网络投票提示服务的公告 本公司董事会及全体董事保证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。 山东高速股份有限公司（以下简称"公司"）拟于 2025 年 6 月 6 日 11:00 召 开 2024 年年度股东大会，本次会议采用现场投票和网络投票相结合的表决方式。 具 体 内 容 详 见 公 司 2025 年 5 月 17 日 披 露 于 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）的《山东高速股份有限公司关于召开 2024 年年度股东大会 的通知》（公告编号：2025-036）。 为更好地服务广大中小投资者，确保有投票意愿的中小投资者能够及时参会 投票。公司拟使用上证所信息网络有限公司（以下简称"上证信息"）提供的股 东大会提醒服务，委托上证信息通过智能短信等形式，根据股权登记日的股东名 册主动提醒股东参会投票，向每一位投资者主动推送股东大会参会邀请、议案情 况等信息。投资者在收到智能短信后，可根据使用手册（下载链接 ...