告律師（南寧）事務所(NANNING) 广西五洲交通股份有限公司 2023年第三次临时股东大会 国浩律师(南宁)事务所 关于 广西五洲交通股份有限公司 2023 年第三次临时股东大会会议的法律意见书 国浩律师 (南宁) 意字(2022)第 5015-10 号 致:广西五洲交通股份有限公司 国浩律师(南宁)事务所受广西五洲交通股份有限公司(以下简称"公 司"）的委托,指派刘卓昀律师、吴楠律师(以下简称"本律师")作为 公司召开 2023 年第三次临时股东大会(以下简称"本次股东大会"或"会 议"）的专项法律顾问,对本次股东大会的召开全过程进行见证并出具法 律意见。 为出具法律意见,本律师出席了本次股东大会,并审查了公司提供的 有关会议文件、资料。公司承诺:其已向本律师提供了出具法律意见所必 须的、真实的书面材料。本律师已证实书面材料的副本、复印件与正本、 原件一致。 现出具法律意见如下: 一、本次股东大会的召集、召开程序 國浩律師(南寧)事務所 广西五洲交通股份有限公司 2023 年第三次临时股东大会 公司董事会作为会议召集人于2023年8月4日在《中国证券报》《上海 证券报》《证券日报》及上海证券交易所网站上 ...

证券代码：600368 证券简称：五洲交通 公告编号：2023-033 广西五洲交通股份有限公司 2023 年第三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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 现场会议召开时间为 2023 年 8 月 21 日（星期一）15:00 开始； 网络投票采用上海证券交易所股东大会网络投票系统。通过交易系统投票平 台的投票时间为股东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30， 13:00-15:00；通 过 互联网 投票 平台 的 投票时 间为 股东 大 会召开 当日的 9:15-15:00。 （2）现场会议召开地点：广西南宁市民族大道 115-1 号现代国际大厦 28 楼 公司 2809 会议室 （3）会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 | 1、出席会议的股东和代理人人数 | 6 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 648,043, ...

广西五洲交通股份有限公司（以下简称公司）于 2021 年 10 月 26 日召开 2021 年第二次临时股东大会，审议通过了《关于拟注册发行超短期融资券的议 案》，具体详见公司在《中国证券报》、《上海证券报》、《证券日报》及上海 证券交易所网站（http://www.sse.com.cn）披露的《五洲交通关于拟注册发行 超短期融资券的公告》。 一、本次超短期融资券注册情况 2021 年 12 月 16 日，公司收到中国银行间市场交易商协会出具的《接受注 册通知书》（中市协注[2021]SCP511 号），同意接受公司超短期融资券注册，注 册金额为 6 亿元，注册额度有效期为 2 年。具体详见公司在《中国证券报》、《上 海证券报》、《证券日报》及上海证券交易所网站（http://www.sse.com.cn） 披露的《五洲交通关于超短期融资券获得注册的公告》。 二、公司前期超短期融资券发行情况 证券代码：600368 证券简称：五洲交通 公告编号：临 2023-032 广西五洲交通股份有限公司 2023 年度第一期超短期融资券发行结果的公告 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 ...

五洲交通 2023 年第三次临时股东大会会议资料 广西五洲交通股份有限公司 2023 年第三次临时股东大会会议资料 （600368） 广西五洲交通股份有限公司董事会 2023 年 8 月 21 日 1 五洲交通 2023 年第三次临时股东大会会议资料 目 录 | 公司关于召开 2023 年第三次临时股东大会的通知 ············ 3 | | | | --- | --- | --- | | 公司 年第三次临时股东大会会议议程 | 2023 | 8 | | 公司 年第三次临时股东大会表决办法 ··············· 9 | 2023 | | | 议案一：关于变更第十届董事会独立董事的议案 11 | | | | 议案二：关于修订《广西五洲交通股份有限公司章程》的议案 14 | | | | 议案三：关于修订《广西五洲交通股份有限公司对外担保管理办法》的议案 18 | | | 2 五洲交通 2023 年第三次临时股东大会会议资料 证券代码：600368 证券简称：五洲交通 公告编号：2023-031 广西五洲交通股份有限公司 关于召开 2023 年第三次临时股东大会的通知 本公司董事会及全体董事保证本 ...

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 767,432,545.99, representing a 2.00% increase compared to CNY 752,420,383.40 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2023 was CNY 346,085,737.67, which is a 7.22% increase from CNY 322,793,374.96 in the previous year[20]. - The net cash flow from operating activities increased by 38.42% to CNY 533,111,066.42, compared to CNY 385,135,318.42 in the same period last year[20]. - Operating revenue increased by 2% year-on-year, primarily due to an increase in toll revenue compared to the same period last year[6]. - Net profit attributable to shareholders increased by 7.22% year-on-year, while net profit excluding non-recurring gains and losses increased by 12.72%, mainly driven by the increase in toll revenue[6]. - Toll revenue for the first half of 2023 reached CNY 587.38 million, an increase of 17.59% compared to the same period last year[33]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 334,885,955.98, which is a 12.72% increase from CNY 297,107,515.55 in the same period last year[20]. - The company achieved operating revenue of CNY 767.43 million, completing 47.96% of the annual board assessment target of CNY 1.6 billion[32]. - Total profit amounted to CNY 399 million, achieving 59.56% of the annual board assessment target of CNY 670 million[32]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 9,245,345,248.40, a decrease of 5.70% from CNY 9,804,360,234.78 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 5.04% to CNY 5,989,927,787.98, compared to CNY 5,702,374,917.84 at the end of the previous year[21]. - The company's total liabilities decreased to CNY 1,820,903,625.28 from CNY 2,532,277,207.29, a reduction of approximately 28.1%[109]. - The company's total assets decreased from ¥9,804,360,234.78 to ¥9,245,345,248.40, a decline of approximately 5.7%[104]. - The company's long-term equity investments decreased to approximately 1.84 billion RMB from 1.89 billion RMB, indicating a slight reduction in investment value[103]. - The company reported a significant reduction in short-term borrowings from ¥599,990,000.00 to ¥229,990,000.00, a decrease of about 61.7%[104]. - The company's total liabilities decreased from ¥4,172,306,432.25 to ¥3,328,008,334.89, a reduction of approximately 20.2%[105]. Earnings and Shareholder Information - The basic earnings per share for the first half of 2023 was CNY 0.2795, a decrease of 2.54% from CNY 0.2868 in the same period last year[21]. - The diluted earnings per share remained the same at CNY 0.2795, reflecting a consistent performance year-on-year[21]. - The company implemented a profit distribution plan on June 14, 2023, distributing 1 share for every 10 shares held, totaling 112,563,207 shares issued, increasing total shares to 1,238,195,275[87][88]. - The cash dividend distributed was 0.52 RMB per 10 shares, amounting to a total cash payout of 58,532,867.54 RMB[88]. - The total number of common shareholders as of the reporting period end was 40,233[89]. - The largest shareholder, Guangxi Transportation Investment Group, held 451,350,528 shares, representing 36.45% of total shares[91]. Operational Developments - The company is the only listed company operating toll roads in Guangxi, with steady growth in the toll road segment revenue[27]. - The logistics park business is expected to benefit from government support for infrastructure projects and the ongoing digital transformation of logistics services[27]. - The company aims to enhance its logistics service brand and expand its influence in the industry through comprehensive upgrades of logistics park services[27]. - The company plans to continue expanding its highway network in Guangxi, aligning with national transportation development goals[26]. - The company is focusing on upgrading logistics parks and has linked new systems for a marketplace and cafeteria, aiming for a stable rollout[33]. Legal and Compliance Issues - Five Continents Traffic is involved in multiple lawsuits related to equity transfer disputes, with claims amounting to approximately CNY 34.86 million and CNY 36.74 million from different parties[64]. - The first-instance judgment dismissed all claims from Five Continents Traffic against Huang Hailai, while the second-instance court has sent the case back for retrial[64]. - The company is also facing a lawsuit from the owners' committee of Wuzhou International Community, requiring the company to repair the building's exterior and waterproofing, with all litigation costs to be borne by Five Continents Traffic[64]. - The company is involved in a lawsuit regarding the return of 9,180 square meters of land and associated buildings to Wan Tong Company[65]. - The company is facing ongoing litigation that may impact its financial position and operational capabilities[65]. Financial Management - The company has not reported any overdue bonds or significant changes in credit ratings during the reporting period[98]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%, demonstrating strong debt management[100]. - The company has established a financial service agreement with the financial company to provide various financial services[69]. - The company’s financial transactions with related parties are in compliance with the regulations and are disclosed appropriately[72]. - The company has a commitment to provide loans under specific contractual terms during the commitment period[172]. Agricultural Initiatives - The company has established a cold storage capacity of 50,000 tons to enhance the storage and circulation of agricultural products, preventing market oversupply and price drops[55]. - The company has generated approximately 700,000 RMB in sales of agricultural products through its self-operated e-commerce platform, featuring over 7,000 products from various regions[56]. - The company assisted local farmers in cultivating 10 acres of tomatoes and 5 acres of peppers, and helped harvest over 1,000 pounds of oranges during the spring farming activities[54]. - The company has actively participated in rural revitalization efforts, providing e-commerce training to local youth to enhance employment opportunities[54]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, although specific details were not disclosed[54]. - The company has engaged in volunteer activities to support local communities, enhancing its social responsibility initiatives[54]. Governance and Compliance - The company has established a governance structure including a board of directors and various departments to enhance operational efficiency[139]. - The company’s financial statements have been approved by the board of directors, ensuring compliance and accuracy in reporting[139]. - The company adheres to the Chinese Accounting Standards, ensuring that its financial statements accurately reflect its financial position and operating results[145].

2023 年第一季度报告 证券代码：600368 证券简称：五洲交通 广西五洲交通股份有限公司 2023 年第一季度报告 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人周异助、主管会计工作负责人玉莉及会计机构负责人（会计主管人员）潘文慧保证季 度报告中财务信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 367,125,289.54 | 8.58 | | 归属于上市公司股东的净利润 | 198,033,120.33 | 9.85 | | 归属于上市公司股东的扣除非经常 | 194,162,302.71 | 16.86 | ...

证券代码：600368 证券简称：五洲交通 公告编号：临 2023-016 广西五洲交通股份有限公司 关于召开 2022 年度业绩暨现金分红说明会的公告 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。 重要内容提示： 会议召开时间：2023 年 4 月 18 日(星期二) 上午 10:00-11:30 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 4 月 11 日(星期二) 至 4 月 17 日(星期一)16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 wzjt600368@sohu.com 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 广西五洲交通股份有限公司（以下简称"公司"）已于 2023 年 3 月 31 日发 布公司 2022 年年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经 营成果、财务状况，公司计划于 2023 年 4 月 ...

Financial Performance - Operating revenue for 2022 was CNY 1,686,522,774.41, a decrease of 7.87% compared to 2021[23]. - Net profit attributable to shareholders decreased by 17.09% to CNY 581,800,638.15, primarily due to reduced toll revenue and foreign exchange losses[25]. - Basic and diluted earnings per share fell by 17.09% to CNY 0.5169[24]. - The total profit for the year was CNY 663 million, reflecting a decline of 17.94%, with net profit decreasing by 17.52% to CNY 578 million[44]. - The company reported a decrease in net profit after deducting non-recurring gains and losses by 15.49% to CNY 502,782,893.72[25]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the fiscal year, representing a 20% growth compared to the previous year[88]. - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion yuan in the latest quarter[90]. Shareholder Returns - The company plans to distribute a total of 171,096,074.34 CNY to shareholders, including 112,563,206.8 shares as stock dividends and 58,532,867.54 CNY in cash dividends[5]. - The company plans to increase its total share capital to 1,238,195,274.8 shares after the stock distribution of 112,563,206.8 shares[117]. - The company proposed a cash dividend policy, distributing 0.52 yuan per 10 shares, totaling 58,532,867.54 yuan in cash dividends, which represents 10.06% of the net profit attributable to ordinary shareholders[120]. Assets and Liabilities - Total assets at the end of 2022 were CNY 9,804,360,234.78, an increase of 1.91% from 2021[23]. - The company’s cash and cash equivalents at the end of the reporting period amounted to 936.76 million yuan, an increase of 70.65% from the previous period[58]. - The company’s long-term equity investments reached 1.892 billion yuan, up 38.59% from 1.365 billion yuan in the previous period[58]. - The company’s short-term borrowings increased by 50% to 600 million yuan from 400 million yuan in the previous period[58]. - The company has a total of 10 million RMB in loans guaranteed for its subsidiary from the Nanning Rural Credit Cooperative, with the loans taken on various dates throughout 2022[180]. Investments and Acquisitions - The company acquired 34% of Quanxing Company and 16.8% of Cengwu Company, confirming investment income of 106 million RMB in 2022[34]. - The company plans to expand its market presence through strategic acquisitions, including a 34% stake in Quanxing Company and a 16.8% stake in Cengwu Company[55]. - The company signed a share transfer agreement to acquire 34% equity in Full Prosperity Company on July 28, 2022[162]. - The company also signed a share transfer agreement to acquire 16.8% equity in Cengwu Company on the same date[162]. Risk Management - The company emphasizes the importance of investment risk awareness in its forward-looking statements[6]. - The company has not disclosed any major risk warnings in the report[9]. - There are no significant risks or violations reported regarding the decision-making process for external guarantees[8]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[7]. - The company is actively exploring equity financing channels to mitigate the impact of national toll policy changes on highway segment revenue[74]. Governance and Compliance - The board of directors and management have ensured the authenticity and completeness of the annual report[4]. - The company has established a comprehensive performance evaluation and incentive mechanism, with effective performance assessments conducted during the reporting period[79]. - The company maintains a "five independence" principle in its operations with the controlling shareholder, ensuring no non-operating fund occupation[76]. - The company has a structured remuneration assessment process for senior management, which is determined by the Board of Directors and the Compensation and Assessment Committee[96]. - The company has not faced any penalties from securities regulatory authorities in the past three years[99]. Operational Highlights - The company maintained a zero-accident safety record in 2022, enhancing its safety management capabilities[35]. - The company completed the construction of smart logistics park functions, with the Golden Bridge Logistics Park's customs declaration revenue reaching 15.06 million RMB, a year-on-year increase of 57.25%[33]. - The average maintenance cost per kilometer for managed road sections decreased by 13.98%, with multiple service areas awarded "four-star" ratings[32]. - The company successfully managed traffic flow during peak holiday periods, reducing congestion times significantly[131]. Legal Matters - The company is involved in multiple loan contract disputes, totaling 46 cases, with various entities including Guangxi Nanshan Trading Co., Ltd. and others[143]. - The company is seeking compensation for economic losses amounting to 8 million, plus interest calculated at rates of 7.358% and 24% for different periods[146]. - The company is currently in the process of appealing a judgment that maintains the original ruling against it[146]. Employee and Management - The company reported a total of 820 employees, with 417 in production, 19 in sales, 319 in technology, 36 in finance, and 29 in administration[112]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 4.8389 million yuan[96]. - The company has implemented a performance-based salary policy, ensuring competitive compensation levels in line with industry standards[114]. - The company conducted targeted training programs, achieving a 100% coverage rate for management personnel with an average of over 90 training hours per year[115].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 752,420,383.40, a decrease of 19.43% compared to CNY 933,857,210.33 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 322,793,374.96, down 19.80% from CNY 402,469,100.79 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 297,107,515.55, a decrease of 15.86% compared to CNY 353,123,692.58 in the previous year[17]. - The net cash flow from operating activities was CNY 385,135,318.42, down 33.21% from CNY 576,674,233.10 in the same period last year[17]. - Basic earnings per share decreased by 19.78% to CNY 0.2868 compared to the same period last year[18]. - Revenue decreased by 19.43%, mainly due to the impact of the pandemic on toll and trade income[18]. - The profit for the first half of 2022 was CNY 370 million, achieving 51.35% of the annual target of CNY 720 million[32]. - The company reported a net cash flow from operating activities of CNY 385.14 million, down 33.21% from CNY 576.67 million in the previous year[37]. - The total operating revenue for the first half of 2022 was RMB 752,420,383.40, a decrease of 19.4% compared to RMB 933,857,210.33 in the first half of 2021[107]. - The total comprehensive income for the first half of 2022 was RMB 321,414,449.59, down from RMB 403,417,327.67 in the same period last year[109]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,232,176,409.48, a decrease of 4.04% from CNY 9,621,025,498.40 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company at the end of the reporting period were CNY 5,443,367,654.65, an increase of 2.08% from CNY 5,332,193,108.47 at the end of the previous year[17]. - Total current assets decreased from 2,185,207,335.24 RMB at the beginning of the period to 1,974,178,089.51 RMB at the end of the period, a decline of approximately 9.65%[99]. - Total liabilities decreased from ¥4,354,943,184.26 to ¥3,856,298,474.53, a reduction of about 11.43%[101]. - Total equity increased from ¥5,266,082,314.14 to ¥5,375,877,934.95, an increase of approximately 2.08%[101]. Operational Highlights - The company operates a total of 228 kilometers of toll roads and manages logistics parks covering 1,530 acres[26]. - The company plans to leverage its financing advantages to continue expanding its highway operations and logistics services[25]. - The company is focusing on upgrading logistics park services and enhancing its industry influence through digitalization and integration[26]. - The company is actively upgrading its logistics parks and expanding its service offerings to enhance overall business quality[34]. - The company is focusing on enhancing operational management and has implemented intelligent management systems to improve toll collection efficiency[33]. Legal and Risk Management - There were no significant risks or violations of decision-making procedures reported during the period[5]. - The company reported significant ongoing litigation and arbitration matters, indicating a complex legal environment affecting operations[56]. - Multiple loan contract disputes involving various subsidiaries and third parties were highlighted, reflecting potential financial risks[57]. - The ongoing legal issues include disputes over contracts and loans, which could lead to financial liabilities if not resolved favorably[57]. - The complexity of the legal disputes may divert management attention from core business operations, potentially affecting performance[57]. Shareholder Information - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period[4]. - The largest shareholder, Guangxi Transportation Investment Group Co., Ltd., holds 410,318,662 shares, representing 36.45% of total shares[92]. - The total number of ordinary shareholders as of the end of the reporting period was 42,779[90]. - The company has not reported any changes in its total share capital or share structure during the reporting period[89]. Future Outlook - The company emphasizes the importance of investment risk awareness for investors regarding forward-looking statements made in the report[5]. - The company plans to focus on market expansion and new product development to drive future growth[110]. - The company is focusing on enhancing shareholder value through strategic investments and potential mergers[123]. Financial Management - The report has not been audited, but the management has confirmed the accuracy and completeness of the financial statements[6]. - The company maintained a good financing capability with a high credit rating and smooth financing channels[31]. - The company achieved e-commerce sales of agricultural products amounting to 2 million yuan during the reporting period[52]. - The company reported a total deposit balance of CNY 1,684,968,400.67 with its financial subsidiary as of the reporting period[72].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 338,099,750.72, a decrease of 33.87% compared to the same period last year[5] - The net profit attributable to shareholders was CNY 180,276,939.19, down by 4.54% year-on-year[5] - The net profit after deducting non-recurring gains and losses was CNY 166,146,191.88, which represents a slight increase of 1.67%[5] - Basic earnings per share were CNY 0.1602, a decline of 4.53% year-on-year[6] - The weighted average return on equity was 3.32%, a decrease of 0.54 percentage points compared to the previous year[6] - Net profit for Q1 2022 was CNY 179,419,079, a decrease of 4.01% compared to CNY 187,925,518 in Q1 2021[22] - Operating profit for Q1 2022 was CNY 207,950,520, down 4.06% from CNY 217,842,188 in the same period last year[22] - Total comprehensive income for Q1 2022 was CNY 179,419,079, compared to CNY 187,925,518 in Q1 2021, reflecting a decline of 4.01%[22] - Basic and diluted earnings per share for Q1 2022 were both CNY 0.1602, down from CNY 0.1678 in Q1 2021[22] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 260,342,022.43, reflecting a decrease of 7.62% compared to the previous year[5] - Cash flow from operating activities for Q1 2022 was CNY 260,342,022, a decrease of 7.65% from CNY 281,831,284 in Q1 2021[24] - Cash inflow from operating activities totaled CNY 368,509,371 in Q1 2022, down 33.43% from CNY 553,021,136 in Q1 2021[23] - Cash outflow from operating activities was CNY 108,167,348 in Q1 2022, compared to CNY 271,189,852 in Q1 2021, a decrease of 60.06%[24] - Cash and cash equivalents at the end of Q1 2022 were CNY 608,324,910, down from CNY 662,610,368 at the end of Q1 2021[24] - The company raised CNY 150,000,000 through borrowings in Q1 2022, compared to CNY 300,000,000 in Q1 2021[24] - The net cash flow from financing activities in Q1 2022 was -CNY 198,381,106, compared to -CNY 116,355,049 in Q1 2021, indicating increased cash outflow[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,637,058,176.85, an increase of 0.17% from the end of the previous year[6] - Total assets amounted to CNY 9,637,058,176.85 as of March 31, 2022, compared to CNY 9,621,025,498.40 at the end of 2021, showing a marginal increase of 0.2%[19] - Total liabilities decreased to CNY 4,191,556,783.71 from CNY 4,354,943,184.26, representing a reduction of 3.7%[18] - The company's total non-current assets were CNY 7,379,415,624.72, slightly down from CNY 7,435,818,163.16, indicating a decrease of 0.8%[17] - The company's equity attributable to shareholders rose to CNY 5,512,470,047.66 from CNY 5,332,193,108.47, marking an increase of 3.4%[19] - The equity attributable to shareholders increased by 3.38% to CNY 5,512,470,047.66[6] - Short-term borrowings decreased significantly from CNY 400,000,000.00 to CNY 250,000,000.00, a reduction of 37.5%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,431[12] Revenue and Costs - Total operating revenue for Q1 2022 was CNY 338,099,750.72, a decrease of 33.8% compared to CNY 511,264,017.76 in Q1 2021[19] - Total operating costs for Q1 2022 were CNY 159,577,178.24, down 48.9% from CNY 311,879,609.09 in Q1 2021[19] - The decline in operating revenue was primarily due to reduced toll and trade income caused by the impact of the COVID-19 pandemic in Guangxi[10] Investment Income - The company reported an investment income of CNY 29,047,085.29 in Q1 2022, compared to CNY 15,530,014.64 in Q1 2021, reflecting an increase of 87.5%[19]