Financial Performance - The company's operating revenue for Q1 2025 was ¥1,771,765,261.39, a decrease of 13.06% compared to ¥2,037,983,716.92 in the same period last year[5] - Net profit attributable to shareholders was ¥478,007,244.10, reflecting a slight increase of 1.50% from ¥470,958,969.66 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥466,270,240.35, which represents a 15.89% increase from ¥402,349,586.96 in the previous year[5] - Total revenue for Q1 2025 was CNY 1,771,765,261.39, a decrease of 13.06% compared to CNY 2,037,983,716.92 in Q1 2024[27] - The net profit for Q1 2025 was CNY 514,281,845.56, a slight increase from CNY 512,669,617.76 in Q1 2024, representing a growth of 0.3%[28] - The total profit before tax for Q1 2025 was CNY 621,275,671.38, slightly down from CNY 637,696,969.36 in Q1 2024, a decrease of 2.5%[28] - The total comprehensive income for Q1 2025 was CNY 546,823,605.96, compared to CNY 474,681,285.95 in Q1 2024, marking an increase of 15.2%[28] Cash Flow and Liquidity - The net cash flow from operating activities increased by 28.96% to ¥980,875,169.00, up from ¥760,626,644.48 in the same period last year[6] - The company's cash and cash equivalents rose to CNY 8,176,488,936.45, compared to CNY 2,908,582,010.43 at the end of 2024, indicating a significant increase[23] - The company reported a significant increase in cash and cash equivalents, ending Q1 2025 with CNY 8,019,330,500.54, up from CNY 3,235,689,796.04 in Q1 2024[32] - The net cash flow from operating activities for Q1 2025 was CNY 980,875,169.00, an increase of 29% from CNY 760,626,644.48 in Q1 2024[30] - Investment activities resulted in a net cash outflow of CNY 1,129,503,420.53 in Q1 2025, compared to a net inflow of CNY 672,220,430.43 in Q1 2024[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥73,150,343,598.02, an increase of 8.28% from ¥67,558,030,948.58 at the end of the previous year[6] - The total liabilities amounted to CNY 40,760,132,514.45, slightly up from CNY 40,356,460,239.19 at the end of 2024[24] - Long-term investments increased to CNY 20,019,730,301.43 as of March 31, 2025, compared to CNY 19,755,383,217.22 at the end of 2024, marking a growth of 1.34%[23] Shareholder Information - Shareholders' equity attributable to the parent company increased by 23.53% to ¥27,056,358,745.56, compared to ¥21,903,521,723.27 at the end of the previous year[6] - The total number of shareholders at the end of the reporting period was 17,576, with the top 10 shareholders holding a combined 88.77% of the shares[10] - The company completed the issuance of 357,085,801 A shares at a price of RMB 13.17 per share, raising a net amount of RMB 4,679,236,514.71[20] - The total share capital increased from 2,180,770,326 shares to 2,537,856,127 shares, with A shares totaling 1,790,356,127 and H shares 747,500,000[20] - The company has committed to a share lock-up period of 18 months for certain investors following the A share issuance[13] Operational Highlights - The average daily mixed traffic volume for the Guangdong province projects in Q1 2025 included 608 thousand vehicles for the Guangshen Expressway, generating a revenue of RMB 7,409 thousand[14] - The average daily toll revenue for the Meiguan Expressway was RMB 411 thousand with a traffic volume of 158 thousand vehicles[14] - The organic waste treatment projects processed a total of 317.24 thousand tons, generating operational revenue of RMB 174,266.95 thousand in Q1 2025[17] - The wind power projects generated a total of 178,690.70 MWh, resulting in revenue of RMB 52,905.30 thousand in Q1 2025[19] - The average daily traffic volume for the Jiangjiang project was 205 thousand vehicles, generating a revenue of RMB 2,010 thousand[14] Government and Financing Activities - The company received government subsidies amounting to ¥4,309,075.83, which are closely related to its normal business operations[7] - The company issued medium-term notes totaling RMB 1.5 billion with a coupon rate of 1.7% for a term of 3 years[20] - The company issued CNY 2.3 billion in bonds on March 12, 2025, with a coupon rate of 2.29% and a maturity of 5 years[22] - A short-term financing bond of CNY 1.5 billion was issued on April 15, 2025, with an interest rate of 1.64% and a term of 270 days[22] - The company did not engage in any financial product transactions during the reporting period, with a total entrusted investment amount of CNY 0[22]

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 2025-050 | | --- | --- | --- | --- | --- | | 债券代码：188451 | 债券简称：21 | 深高 | 01 | | | 债券代码：185300 | 债券简称：22 | 深高 | 01 | | | 债券代码：240067 | 债券简称：G23 | 深高 | 1 | | | 债券代码：241018 | 债券简称：24 | 深高 | 01 | | | 债券代码：241019 | 债券简称：24 | 深高 | 02 | | | 债券代码：242050 | 债券简称：24 | 深高 | 03 | | | 债券代码：242539 | 债券简称：25 | 深高 | 01 | | | 债券代码：242780 | 债券简称：25 | 深高 | Y1 | | | 债券代码：242781 | 债券简称：25 | 深高 | Y2 | | 深圳高速公路集团股份有限公司 关于使用募集资金向子公司实缴出资及提供借款 以实施募投项目的公告 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， ...

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 2025-052 | | --- | --- | --- | --- | --- | | 债券代码：188451 | 债券简称：21 | 深高 | 01 | | | 债券代码：185300 | 债券简称：22 | 深高 | 01 | | | 债券代码：240067 | 债券简称：G23 | 深高 | 1 | | | 债券代码：241018 | 债券简称：24 | 深高 | 01 | | | 债券代码：241019 | 债券简称：24 | 深高 | 02 | | | 债券代码：242050 | 债券简称：24 | 深高 | 03 | | | 债券代码：242539 | 债券简称：25 | 深高 | 01 | | | 债券代码：242780 | 债券简称：25 | 深高 | Y1 | | | 债券代码：242781 | 债券简称：25 | 深高 | Y2 | | 深圳高速公路集团股份有限公司 关于子公司使用票据先行支付募投项目所需资金及 到期后以募集资金等额置换的公告 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 ...

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 2025-053 | | --- | --- | --- | --- | --- | | 债券代码：188451 | 债券简称：21 | 深高 | 01 | | | 债券代码：185300 | 债券简称：22 | 深高 | 01 | | | 债券代码：240067 | 债券简称：G23 | 深高 | 1 | | | 债券代码：241018 | 债券简称：24 | 深高 | 01 | | | 债券代码：241019 | 债券简称：24 | 深高 | 02 | | | 债券代码：242050 | 债券简称：24 | 深高 | 03 | | | 债券代码：242539 | 债券简称：25 | 深高 | 01 | | | 债券代码：242780 | 债券简称：25 | 深高 | Y1 | | | 债券代码：242781 | 债券简称：25 | 深高 | Y2 | | 深圳高速公路集团股份有限公司 2025 年 3 月未经审计路费收入公告 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 ...

深高速（600548）公告，2025年第一季度营收为17.72亿元，同比下降13.06%；净利润为4.78亿元，同 比增长1.50%。 ...

Financial Performance - Operating revenue for Q1 2025 was RMB 1,771,765,261.39, a decrease of 13.06% compared to RMB 2,037,983,716.92 in Q1 2024[6] - Net profit attributable to shareholders was RMB 478,007,244.10, reflecting a slight increase of 1.50% from RMB 470,958,969.66 in the same period last year[6] - Basic and diluted earnings per share for Q1 2025 were both RMB 0.203, up 4.10% from RMB 0.195 in Q1 2024[6] - Net profit for Q1 2025 was RMB 514,281,845.56, slightly up from RMB 512,669,617.76 in Q1 2024, representing a growth of 0.31%[32] - Operating profit for Q1 2025 was RMB 621,113,486.27, down from RMB 634,811,192.70 in Q1 2024, a decline of 2.73%[32] - The company’s total comprehensive income for Q1 2025 was RMB 546,823,605.96, compared to RMB 474,681,285.95 in Q1 2024, an increase of 15.19%[33] Cash Flow and Assets - Net cash flow from operating activities increased by 28.96% to RMB 980,875,169.00, primarily due to the receipt of prior year waste treatment subsidies and increased revenue from transportation fees[8] - Cash and cash equivalents at the end of Q1 2025 totaled RMB 8,019,330,500.54, up from RMB 3,235,689,796.04 at the end of Q1 2024[36] - The company reported a net cash flow from operating activities of RMB 980,875,169.00 in Q1 2025, an increase from RMB 760,626,644.48 in Q1 2024[35] - As of March 31, 2025, total current assets increased to RMB 12,921,011,423.05 from RMB 7,643,838,856.74 as of December 31, 2024, representing a growth of approximately 69.8%[27] - The company’s total assets increased to RMB 73,150,343,598.02 in Q1 2025, compared to RMB 67,558,030,948.58 in Q1 2024, reflecting a growth of 8.67%[30] Shareholder Information - The number of shareholders totaled 17,576, with 17,336 being A-share shareholders and 240 H-share shareholders[9] - The top shareholder, Xintong Industrial Development (Shenzhen) Co., Ltd., holds 28.79% of shares, totaling 730,710,144 shares[10] - Equity attributable to shareholders rose by 23.53% to RMB 27,056,358,745.56, mainly due to the issuance of A-shares to specific investors[8] Market and Operational Insights - The company plans to continue expanding its market presence and enhancing operational efficiency through strategic initiatives[12] - In the Guangdong province, the average daily mixed traffic volume for the Meiguan Expressway was 158, with toll revenue of RMB 411,000 for Q1 2025[13] - The average daily mixed traffic volume for the Jihe East Section was 308, generating toll revenue of RMB 1,817,000 in Q1 2025[13] - The average daily mixed traffic volume for the Jiangjiang Project was 205, resulting in toll revenue of RMB 2,010,000 for Q1 2025[13] - The average daily mixed traffic volume for the Guangshen Expressway was 608, generating toll revenue of RMB 7,409,000 in Q1 2025[15] - The total operating revenue from the Guizhou project in organic waste processing was RMB 22,046,770, processing 36.99 thousand tons in Q1 2025[17] - The total operating revenue from the Xinjiang Mu Lei wind power project was RMB 49,291,490, with an electricity generation of 107,112.87 MWh in Q1 2025[19] - The total operating revenue from the Huai'an Zhongheng project in clean energy generation was RMB 31,993,820, generating 66,346.40 MWh in Q1 2025[20] - The total operating revenue from the Tai Zhou project in organic waste processing was RMB 9,772,530, processing 17.03 thousand tons in Q1 2025[18] - The total operating revenue for Q1 2025 was RMB 1,771,765,261.39, a decrease of 13.06% compared to RMB 2,037,983,716.92 in Q1 2024[32] Liabilities and Financing - Current liabilities totaled RMB 11,890,985,416.04 as of March 31, 2025, down from RMB 14,175,295,530.40 at the end of 2024, a decrease of approximately 16.5%[29] - Long-term borrowings decreased to RMB 12,800,758,083.34 from RMB 13,912,273,334.21, reflecting a reduction of about 8.0%[29] - The company’s total non-current liabilities increased to RMB 28,869,147,098.41 as of March 31, 2025, compared to RMB 26,181,164,708.79 at the end of 2024, an increase of approximately 10.3%[29] - The company’s total liabilities amounted to RMB 40,760,132,514.45 as of March 31, 2025, slightly up from RMB 40,356,460,239.19 at the end of 2024, indicating a marginal increase of about 1.0%[29] - The company issued RMB 23 billion in corporate bonds with a 5-year term and a coupon rate of 2.29% on March 12, 2025[22] - The company completed the issuance of RMB 15 billion in short-term financing notes with a term of 270 days at an interest rate of 1.64% on April 15, 2025[22]

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 2025-047 | | --- | --- | --- | --- | --- | | 债券代码：188451 | 债券简称：21 | 深高 | 01 | | | 债券代码：185300 | 债券简称：22 | 深高 | 01 | | | 债券代码：240067 | 债券简称：G23 | 深高 | 1 | | | 债券代码：241018 | 债券简称：24 | 深高 | 01 | | | 债券代码：241019 | 债券简称：24 | 深高 | 02 | | | 债券代码：242050 | 债券简称：24 | 深高 | 03 | | | 债券代码：242539 | 债券简称：25 | 深高 | 01 | | | 债券代码：242780 | 债券简称：25 | 深高 | Y1 | | | 债券代码：242781 | 债券简称：25 | 深高 | Y2 | | 深圳高速公路集团股份有限公司 关于控股子公司发布季度业绩的公告 湾区发展控股经营广深沿江高速公路（S3）深圳段，拥有其 51%的股权。 湾区发展其他主要资产为广深珠高速公路有限公 ...

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching RMB 10 billion for the fiscal year 2024[6]. - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues of RMB 11 billion[6]. - The company's operating revenue for 2024 was CNY 9,245,691,487.27, a decrease of 0.53% compared to CNY 9,295,304,371.69 in 2023[28]. - Net profit attributable to shareholders for 2024 was CNY 1,145,048,951.69, down 50.80% from CNY 2,327,197,196.81 in 2023[28]. - The net cash flow from operating activities for 2024 was CNY 3,717,306,471.14, a decline of 9.22% from CNY 4,094,812,227.87 in 2023[28]. - Basic earnings per share for 2024 decreased by 55.09% to CNY 0.441 from CNY 0.982 in 2023[28]. - The weighted average return on equity for 2024 was 5.31%, a decrease of 6.68 percentage points from 11.99% in 2023[28]. - The company's operating revenue for 2024 is reported at RMB 9,246 million, a slight decrease from RMB 9,295 million in 2023, reflecting a year-over-year decline of approximately 0.5%[37]. - The net profit for 2024 is RMB 1,145 million, down from RMB 2,327 million in 2023, representing a decrease of approximately 50.8%[37]. - The total liabilities increased to RMB 40,356 million in 2024 from RMB 39,509 million in 2023, reflecting an increase of approximately 2.1%[37]. - The debt-to-asset ratio for 2024 is reported at 59.74%, up from 58.53% in 2023, indicating a rising leverage position[37]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[6]. - A strategic acquisition of a local competitor was completed, expected to enhance operational efficiency and increase market penetration by 15%[6]. - The company plans to invest RMB 500 million in infrastructure development over the next two years to support growth initiatives[6]. - Major projects such as the Outer Ring Phase III and the Jihe Expressway expansion have commenced construction, contributing to the expansion of quality highway assets[57]. - The company is actively promoting major new construction and expansion projects, including the Outer Ring Phase III, Jihe Expressway, and the Beijing-Hong Kong-Macao Expressway Guangzhou-Shenzhen section[76]. Customer and User Engagement - User data showed a growth of 20% in active users, totaling 5 million by the end of the reporting period[6]. - Customer satisfaction ratings improved by 10%, reflecting enhanced service quality and user experience[6]. Research and Development - Research and development expenses increased by 18%, focusing on innovative technologies to improve service delivery[6]. - The company is focusing on smart transportation research and improving traffic data collection, analysis, and forecasting capabilities[56]. - The company aims to promote the digital transformation of transportation infrastructure, with a goal of achieving digital upgrades for about 85% of busy national highways by 2027[73]. Environmental Initiatives - The company is engaged in solid waste resource treatment and clean energy power generation as part of its major environmental business[24]. - The company is focusing on solid waste resource treatment and clean energy generation in the environmental protection sector, gradually establishing a layout in the big environmental protection industry through acquisitions and investments[62]. - The company operates 19 BOT projects for organic waste treatment, with a design capacity of approximately 6,700 tons per day, positioning it among the industry leaders[81]. - The company has established an environmental company and a new energy company to expand its waste resource treatment and clean energy generation businesses[104]. Financial Management and Investments - The company has issued CNY 4 billion perpetual bonds in 2020, which were excluded from the calculations of earnings per share and return on equity[30]. - The group completed the issuance of 15 billion RMB in corporate bonds during the reporting period, primarily to refinance maturing debt and supplement working capital[184]. - The group maintained a AAA credit rating domestically and an investment-grade rating from Moody's and S&P internationally[183]. - The company has unused bank credit lines of approximately 65,822 million RMB, an increase of 22,082 million from 43,740 million in the previous year[177]. Operational Efficiency - The company aims to reduce operational costs by 5% through efficiency improvements and technology integration[6]. - The average financing cost of the group decreased by 1.3 percentage points year-on-year due to the expansion of diversified financing channels and coordination with banks to lower loan rates[58]. - The company is optimizing its asset and business structure by exiting less profitable equipment manufacturing and engineering construction businesses[57]. Infrastructure Development - The company has completed the first phase of the Outer Ring Expressway, totaling approximately 51 kilometers, which opened on December 29, 2020[14]. - The company has plans for the construction of the third phase of the Outer Ring Expressway, approximately 16.8 kilometers long, expected to commence by the end of 2023[14]. - The company has developed a road network monitoring and command scheduling system platform, which is now operational, enhancing road network operation monitoring and management[76]. Shareholder Information - As of the end of the reporting period, the company has issued 2,180,770,326 ordinary shares, with 1,433,270,326 A-shares listed on the Shanghai Stock Exchange, accounting for 65.72% of the total share capital[25]. - The largest shareholder is Xintong Company, holding approximately 30.03% of the company's shares, which is a wholly-owned subsidiary of Shenzhen International[25]. - The board proposed a final cash dividend of RMB 0.244 per share, with a payout ratio of approximately 64.35%[53].

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 2024-046 | | --- | --- | --- | --- | --- | | 债券代码：188451 | 债券简称：21 | 深高 | 01 | | | 债券代码：185300 | 债券简称：22 | 深高 | 01 | | | 债券代码：240067 | 债券简称：G23 | 深高 | 1 | | | 债券代码：241018 | 债券简称：24 | 深高 | 01 | | | 债券代码：241019 | 债券简称：24 | 深高 | 02 | | | 债券代码：242050 | 债券简称：24 | 深高 | 03 | | | 债券代码：242539 | 债券简称：25 | 深高 | 01 | | | 债券代码：242780 | 债券简称：25 | 深高 | Y1 | | | 债券代码：242781 | 债券简称：25 | 深高 | Y2 | | 深圳高速公路集团股份有限公司 2025 年第一季度业绩说明会预告公告 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 ...

深圳高速公路集团股份有限公司董事会 | 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 2025-045 | | --- | --- | --- | --- | --- | | 债券代码：188451 | 债券简称：21 | 深高 | 01 | | | 债券代码：185300 | 债券简称：22 | 深高 | 01 | | | 债券代码：240067 | 债券简称：G23 | 深高 | 1 | | | 债券代码：241018 | 债券简称：24 | 深高 | 01 | | | 债券代码：241019 | 债券简称：24 | 深高 | 02 | | | 债券代码：242050 | 债券简称：24 | 深高 | 03 | | | 债券代码：242539 | 债券简称：25 | 深高 | 01 | | | 债券代码：242780 | 债券简称：25 | 深高 | Y1 | | | 债券代码：242781 | 债券简称：25 | 深高 | Y2 | | 2025 年 4 月 21 日 深圳高速公路集团股份有限公司 关于赎回永续债的公告 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 ...