股票简称：宁沪高速 股票代码：600377 编号：临 2025-014 江苏宁沪高速公路股份有限公司 关于召开 2024 年度业绩说明会的公告 一、业绩说明会类型 本次业绩说明会通过电话视频会议方式召开，本公司将针对 2024 年度的经 营情况与投资者进行交流，并对投资者普遍关注的问题进行回答。 二、业绩说明会召开的时间、地点 平台接入号码：+86-4001888938（中国大陆）； +852-57006920（中国香港） （四）参会密码：347931 三、参加人员 第 1 页 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： 本公司于 2025 年 3 月 27 日在上海证券交易所网站（www.sse.com.cn）及香 港联合交易所有限公司网站（www.hkexnews.hk）披露本公司 2024 年年度报告。 为了便于广大投资者更全面深入地了解本公司 2024 年度经营情况，本公司定于 2025 年 4 月 8 日 10:00-11:00 召开业绩说明会，就投资者普遍关心的问题进行交 流。 五、联系方式 本 ...

江苏宁沪高速公路股份有限公司 关于会计师事务所2024年度履职情况评估报告 江苏宁沪高速公路股份有限公司（以下简称"公司"）聘请毕马威华振会计师 事务所（特殊普通合伙）（以下简称"毕马威华振"）作为公司2024年年度审计会计 师事务所。根据财政部、国资委及证监会颁布的《国有企业、上市公司选聘会计师 事务所管理办法》，公司对毕马威华振在近一年审计中的履职情况进行了评估。经评 估，公司认为近一年毕马威华振资质等方面合规有效，履职能够保持独立性，勤勉 尽责，公允表达意见。具体情况如下。 毕马威华振2023年经审计的业务收入总额超过人民币41亿元，其中审计业务收 入超过人民币39亿元（包括境内法定证券服务业务收入超过人民币9亿元，其他证 券服务业务收入超过人民币10亿元，证券服务业务收入共计超过人民币19亿元）。 毕马威华振2023年上市公司年报审计客户家数为98家，上市公司财务报表审计 收费总额约为人民币5.38亿元。这些上市公司主要行业涉及制造业，金融业，信息 传输、软件和信息技术服务业，电力、热力、燃气及水生产和供应业，交通运输、 仓储和邮政业，批发和零售业，采矿业，房地产业，科学研究和技术服务业，农、 林、牧 ...

股票简称：宁沪高速 股票代码：600377 编号：临 2025-009 江苏宁沪高速公路股份有限公司 第十一届监事会第九次会议决议公告 本公司监事会及全体监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。 一、会议召开情况 （一）江苏宁沪高速公路股份有限公司（以下简称"本公司"）第十一届监 事会第九次会议（以下简称"会议"）于 2025 年 3 月 26 日在南京市仙林大道 6 号本公司 2 号楼会议室以现场会议及视频会议相结合的方式召开，会议由杨世威 先生主持。 （二）会议通知及材料以邮件、传真的方式向全体监事发出。 （三）会议应到监事 5 人，会议实际出席监事 5 人。董事会秘书列席了本次 会议。 （四）会议的召开符合《公司法》及本公司《章程》的有关规定，会议决议 为有效决议。 二、会议审议情况 本次会议审议并通过如下议案： 1、审议并批准本公司 2024 年年度报告及摘要。 全体监事一致认为，本公司 2024 年年度报告编制和审议程序符合法律、法 规、本公司《章程》和本公司内部管理制度的各项规定；年度报告的内容和格式 也符合中国证监会和证券交 ...

股票简称：宁沪高速 股票代码：600377 编号：临 2025-008 江苏宁沪高速公路股份有限公司 第十一届董事会第九次会议决议公告 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。 一、会议召开情况 （一）江苏宁沪高速公路股份有限公司（以下简称"本公司"）第十一届董事会 第九次会议（以下简称"会议"）于2025年3月26日以现场会议及视频会议相结合的方 式召开。 （二）会议通知以邮件或专人送达的方式向董事会全体成员发出。 （三）会议应表决董事13人，会议出席董事13人。 （四）会议的召开符合《公司法》及本公司《章程》的有关规定，会议决议为有 效决议。 （二）审议并批准本公司 2024 年度董事会工作报告，并将此议案提交 2024 年年度 股东大会审议。 表决结果：同意 13 票；反对 0 票；弃权 0 票。 此议案获得通过。 1 （三）审议并批准本公司 2024 年度总经理工作报告。 二、会议审议情况 本次会议审议并通过如下议案： （一）审议并批准本公司 2024 年年度报告及摘要，以中文在中国证券报、证券时 报、上海证券报 ...

Financial Performance - The company achieved a net profit attributable to shareholders of approximately RMB 4,946,692 thousand, with earnings per share of about RMB 0.9819[6]. - The company achieved a net profit of RMB 1.2 billion, representing a 20% increase compared to the same period last year[14]. - Net profit attributable to shareholders was RMB 4.95 billion, reflecting a 12.09% increase from RMB 4.41 billion in the previous year[21]. - The basic earnings per share for 2024 was RMB 0.9819, up 12.09% from RMB 0.8760 in 2023[22]. - The total profit reached RMB 6.317 billion, an increase of 11.36% compared to the previous year[41]. - The company reported a total operating revenue of RMB 23.198 billion for the year, representing a year-on-year increase of 52.70%[41]. - The company reported a total of RMB 66.24 million in non-recurring gains and losses for the year[29]. - The company reported a total revenue from the top five customers of RMB 91,453 thousand, accounting for 3.94% of total annual sales[82]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[158]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a 20% year-over-year growth[160]. Dividends and Shareholder Returns - The board proposed a cash dividend of RMB 0.49 per share (including tax), based on a total share capital of 5,037,747,500 shares, expected to be paid on July 30, 2025[6]. - The total comprehensive income for the year is RMB 6,954,903,293.41, with a significant portion attributed to undistributed profits of RMB 15,688,590,021.99 available for distribution to shareholders as of December 31, 2024[113]. Revenue and Growth Projections - Jiangsu Expressway Company Limited reported a revenue increase of 15% year-over-year, reaching RMB 5.2 billion for the latest quarter[14]. - The company has set a performance guidance of 12% revenue growth for the next fiscal year[14]. - The company provided a positive outlook for the next quarter, projecting revenue growth of 25% and aiming to reach $1.875 billion[158]. - Future guidance indicates a commitment to sustainability, with plans to invest $30 million in green initiatives over the next two years[158]. Operational Efficiency and Investments - Investment in new technologies for toll collection is expected to reach RMB 300 million, enhancing operational efficiency[14]. - The company has equipped 187 smart toll lanes, reducing on-site toll staff by over 300 personnel, enhancing the efficiency of free-flow tolling[44]. - The company has successfully reduced operational costs by 15% through efficiency improvements[158]. - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[158]. Traffic and User Engagement - User traffic on the expressways increased by 10% year-over-year, with a total of 45 million vehicles recorded[14]. - The average daily traffic flow for the company's controlled road network increased by 4.24% year-on-year, with passenger vehicle flow at 56,701 vehicles/day and freight vehicle flow at 14,296 vehicles/day[60]. - User data showed an increase in active users, reaching 10 million, which is a 15% increase compared to the previous quarter[158]. Strategic Initiatives and Future Plans - The company plans to expand its network by adding 200 kilometers of new expressways by the end of 2025[14]. - The company is exploring potential mergers and acquisitions to strengthen its market position in the region[14]. - The company is actively involved in the development of 45 integrated energy projects, including the "Wind-Solar-Storage-Charging-Swap" demonstration project[49]. - The company plans to optimize its debt structure and reduce financing costs while exploring various financing methods to support its development needs, with registered but unissued short-term financing bonds and medium-term notes totaling RMB 80 billion[141]. Sustainability and Environmental Initiatives - The company is focusing on sustainable practices, aiming for a 25% reduction in carbon emissions by 2025[14]. - The company aims to lead the green transformation in the highway industry, leveraging its subsidiary Yunshan Qingneng in the renewable energy sector[136]. - The company is actively exploring zero-carbon industry models and innovative energy platforms to support sustainable development[137]. Governance and Compliance - The governance structure of the company adheres to legal regulations and best practices, ensuring effective checks and balances among its governing bodies[148]. - The company has been recognized with multiple awards for its investor relations and corporate governance, including the "2023 Golden Bull Most Investment Value Award" and "Top 100 ESG Listed Companies in China"[52]. - The company has a clear governance structure with no cross-appointments between the controlling shareholder and the company[149]. Financial Position and Assets - Total assets at the end of 2024 were RMB 89.89 billion, a 14.27% increase from RMB 78.66 billion at the end of 2023[21]. - The company's net assets attributable to shareholders increased by 13.56% to RMB 38.60 billion compared to RMB 33.99 billion in 2023[21]. - The total liabilities to total assets ratio decreased to 44.67%, down by 3.35 percentage points from the previous period[94]. Employee and Management Practices - The total salary expenditure for employees during the reporting period was approximately RMB 909.67 million, reflecting the company's emphasis on employee value and compensation[197]. - Training expenses for the reporting period amounted to approximately RMB 17.96 million, covering all levels from frontline production to senior management, enhancing employee capabilities and awareness[199]. - The company has implemented a diversified incentive mechanism, including salary incentives and performance assessments, to stimulate employee motivation and creativity[197]. Related Party Transactions - The company has approved 21 daily related transactions, ensuring fair pricing and no negative impact on shareholders, particularly minority shareholders[180]. - The company has engaged independent third-party auditors to ensure the fairness and transparency of related party transactions, confirming the reasonableness of project costs[184].

股票简称：宁沪高速 股票代码：600377 编号：临 2025-010 江苏宁沪高速公路股份有限公司 2024 年年度利润分配方案公告 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： 每股派发现金红利人民币 0.49 元(含税)。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日 期将在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配总 额不变，相应调整每股分配比例，并将另行公告具体调整情况。 未触及《上海证券交易所股票上市规则（2024 年 4 月修订）》（以下简 称《股票上市规则》）第 9.8.1 条第一款第（八）项规定的可能被实施其他风险警 示的情形。 一、利润分配方案内容 （一）利润分配方案的具体内容 经毕马威华振会计师事务所（特殊普通合伙）审计，截至2024年12月31日，江 苏宁沪高速公路股份有限公司（以下简称"本公司"）母公司报表中期末未分配利 润为人民币11,348,847,453.33元。经董事会决议，本公司2024年年度拟以实施权 益分派股 ...

前十大流通股东累计持有： 359771.76万股，累计占流通股比： 71.6%，较上期变化： -2553.47万股。 | 名称 | 持有数量(万股) | 占总股本 | 增减情况 | | --- | --- | --- | --- | | | | 比例(%) | (万股) | | 江苏交通控股有限公司 | 274257.88 | 54.59 | 不变 | | 招商局公路网络科技控股股份有限公司 | 58905.91 | 11.72 | 不变 | | BlackRock, Inc. | 10367.00 | 2.06 | 580.47 | | J.P.Morgan Chase&Co | 7424.45 | 1.48 | 新进 | | 国泰君安证券股份有限公司 | 1764.40 | 0.35 | -19.99 | | 中国人寿（601628）保险股份有限公司-传统-普通保险产 | | | | | 品-005L-CT001沪 | 1739.47 | 0.35 | 新进 | | 中国平安人寿保险股份有限公司-自有资金 | 1649.06 | 0.33 | 38.31 | | 中国建设银行股份有限公司-华泰柏瑞中证红利 ...

江苏宁沪高速公路股份有限公司（以下简称"本公司"）于 2024 年 12 月收 到中国银行间市场交易商协会的《接受注册通知书》（中市协注〔2024〕SCP401）, 根据《接受注册通知书》，本公司自 2024 年 12 月 30 日起 2 年内可分期发行规 模不超过人民币 40 亿元的超短期融资券。 于 2025 年 3 月 18 日，本公司发行了 2025 年度第一期超短期融资券。现将 发行申购、配售、分销情况公告如下： | | 发行要素 | | | | --- | --- | --- | --- | | 名称 | 江苏宁沪高速公路股份有限公司 2025 年度第一期超短期融资券 | 简称 | 25 宁沪高 SCP001 | | 代码 | 012580696 | 期限 | 128 天 | | 起息日 | 2025 年 3 月 19 日 | 兑付日 | 2025 年 7 月 25 日 | | 计划发行总额 | 5.60 亿元 | 实际发行总额 | 5.60 亿元 | | 发行利率 | 1.86% | 发行价格 | 100 元/百元面值 | | | 申购情况 | | | | 合规申购家数 | 21 家 | 合规申 ...

Investment Rating - The report highlights the attractiveness of high dividend assets in the transportation industry under a low interest rate environment, suggesting a positive investment outlook for this sector [3][16]. Core Insights - The low interest rate environment enhances the value of dividend asset allocation, with transportation sector dividend yields exceeding current government bond yields as of February 28, 2024 [3][16]. - Policy guidance is encouraging long-term funds, such as insurance capital, to enter the market, increasing demand for high dividend assets [32]. - There is a valuation differentiation in the market, favoring companies in the highway and port sectors with stable earnings and high dividend ratios [48]. Summary by Sections Low Interest Rate Environment and Dividend Asset Allocation - The report emphasizes the significance of high dividend assets in a low interest rate context, with highway yields around 2%, shipping at approximately 2.7%, and ports at about 1.5% as of February 2024 [3][16]. - The report notes that the demand for high dividend assets is expected to rise due to the low interest rate cycle, which has led to a sustained low yield on ten-year government bonds [32]. Fund Flow Analysis - The report indicates that the scale of dividend products has significantly increased, with dividend ETFs showing the highest growth [36]. - The report mentions that the inflow of dividend ETFs has a positive impact on the stock prices of high dividend stocks in the transportation sector [37]. High Dividend Stocks in Transportation - The report lists key companies in the transportation sector with predicted dividend yields exceeding 3%, including Ninghu Expressway, Gansu Expressway, and Daqin Railway, among others [49][62]. - It highlights that the transportation sector's dividend ratios still have room for improvement compared to other industries [23].

江苏宁沪高速公路股份有限公司 2025 年度第三期中期票据发行情况公告 股票代码：600377 股票简称：宁沪高速 编号：临2025-006 | 最高申购价位 | 1.79% 最低申购价位 | | 1.70% | | --- | --- | --- | --- | | 有效申购家数 | 4 有效申购金额 | 家 | 11.00 亿元 | | 簿记管理人 | 招商银行股份有限公司 | | | | 主承销商 | 招商银行股份有限公司 | | | | 联席主承销商 | / | | | 特此公告。 江苏宁沪高速公路股份有限公司 2025年2月15日 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。 江苏宁沪高速公路股份有限公司（以下简称"本公司"）于 2024 年 10 月收 到中国银行间市场交易商协会的《接受注册通知书》（中市协注〔2024〕MTN1049 号）,根据《接受注册通知书》，本公司自 2024 年 10 月 31 日起 2 年内可分期发 行规模不超过人民币 40 亿元的中期票据。 于 2025 年 2 月 13 日，本公司 ...