| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 | 2024-090 | | --- | --- | --- | --- | --- | --- | | 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 | | | 深圳高速公路集团股份有限公司 关于监事辞职的公告 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。 深圳高速公路集团股份有限公司（"本公司"）监事会于 2024 年 11 月 11 日 收到监事会主席林继童先生提交的书面辞职报告。林继童先生因个人工作原因辞 任本公司监事及监事会主席职务，辞任后林继童先生将不在本公司担任任何职务。 林继童先生已确认与本公司董事会及 ...

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 | 2024-089 | | --- | --- | --- | --- | --- | --- | | 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 | | | 深圳高速公路集团股份有限公司 关于向特定对象发行 A 股股票申请 获得上海证券交易所审核通过的公告 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法律责任。 深圳高速公路集团股份有限公司（"公司"）于 2024 年 11 月 7 日收到上海证 券交易所上市审核中心出具的《关于深圳高速公路集团股份有限公司向特定对象 发行股票审核意见的通知》，认为公司向特定对象发行 A 股 ...

Investment Rating - The investment rating for the company is "Accumulate (Maintain)" [4] Core Views - The company's performance in the first three quarters of 2024 met expectations, with a revenue of 5.86 billion yuan, a year-on-year decrease of 8.03%. The net profit attributable to shareholders was 1.374 billion yuan, down 10.71% year-on-year [2][6] - The opening of the Shenzhen-Zhongshan Channel is expected to positively impact traffic flow and revenue generation for the company [6][7] Summary by Sections Financial Performance - In Q3 2024, the company achieved a revenue of 2.103 billion yuan, a decline of 6.39% year-on-year. The net profit for Q3 was 600 million yuan, down 1.55% year-on-year [2][6] - Excluding the impact of the deconsolidation of a subsidiary, Q3 toll revenue increased by 4.05% year-on-year [6] - The company’s toll revenue for Q3 was 1.379 billion yuan, a decrease of 4.61% year-on-year, but showed growth when adjusted for the subsidiary's impact [6] Business Segments - The organic waste treatment business saw a revenue increase of 23.69% year-on-year, contributing 182 million yuan in Q3 2024. The wind power generation business, however, experienced a revenue decline of 18.86% year-on-year, generating approximately 127 million yuan [6] - The Shenzhen Outer Ring Road Phase III construction is planned to be funded through a private placement of up to 4.7 billion yuan [7] Future Projections - Revenue projections for 2024-2026 are 9.012 billion yuan, 9.936 billion yuan, and 10.443 billion yuan, with year-on-year growth rates of -3.05%, 10.25%, and 5.11% respectively. Net profit projections for the same period are 2.016 billion yuan, 2.260 billion yuan, and 2.367 billion yuan, with growth rates of -13.36%, 12.09%, and 4.73% respectively [7][8]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company's toll revenue shows steady growth, while the wind power business is under short-term pressure [3] - In Q3 2024, the company achieved a net profit attributable to shareholders of 600 million yuan, a year-on-year decrease of 1.55% [2][3] - The company plans to raise up to 4.9 billion yuan through a private placement to fund major projects [8] Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported operating revenue of 5.86 billion yuan, down 8.03% year-on-year, and a net profit of 1.374 billion yuan, down 10.71% year-on-year [2] - In Q3 2024, the company recorded operating revenue of 2.103 billion yuan, a decrease of 6.39% year-on-year, and a net profit of 600 million yuan [2][3] - The toll revenue from the company's expressway segment increased by 4.22% year-on-year to 1.379 billion yuan in Q3 2024 [3] Revenue Growth - The company’s toll revenue benefited from the opening of the Shenzhen-Zhongshan Bridge, leading to a significant increase in traffic volume and revenue from related projects [3] - The organic waste treatment business within the environmental protection segment saw revenue growth of 23.69% year-on-year, while the wind power segment experienced a revenue decline of 18.86% due to increased abandonment rates and reduced wind resources [3][4] Profitability Metrics - The gross profit margin slightly decreased by 1.60 percentage points to 40.24% in Q3 2024, attributed to pressures in the clean energy sector [4] - The company’s net profit margin for Q3 2024 was recorded at 28.54%, a year-on-year increase of 1.40 percentage points [7] Future Projections - The company is projected to achieve operating revenues of 8.596 billion yuan, 9.524 billion yuan, and 9.837 billion yuan for 2024, 2025, and 2026, respectively [8] - The net profit attributable to shareholders is expected to be 1.999 billion yuan, 2.208 billion yuan, and 2.317 billion yuan for the same years [8]

近期，本公司与平安资管签订了有关永续债合同的补充协议（"补充协议"）。 按照该补充协议的约定，自 2024 年 12 月 4 日起，投资计划的初始利率由 4.6%/ 年调整为 3.2%/年；如本公司未行使 10 年赎回权，以本次调整后的初始利率按照 永续债合同约定的利率调整机制进行利率重置，重置后利率上限由 8.6%/年调整 为 7.2%/年；自 2024 年 12 月 4 日至投资计划满 8 年期间内，本公司有权提前不 少于 20 天向平安资管发出书面通知，提前赎回该笔投资计划的全部剩余本金 （"特别赎回权"）；如本公司放弃行使本补充协议增加的特别赎回权后，仍有权 行使永续债合同约定的 8 年赎回权和 10 年赎回权。除本公告所披露内容外，永 续债合同的其他主要内容条款不变。 特此公告。 深圳高速公路集团股份有限公司董事会 2024 年 11 月 5 日 - 1 - 深圳高速公路集团股份有限公司 关于永续债融资条件调整的公告 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法律责任。 深圳高速公路集团股份有限公司（"本公司"）于 202 ...

Summary of Conference Call Company and Industry - The conference call primarily discusses a transportation infrastructure company involved in highway operations and development, particularly in the Shenzhen and surrounding regions. Key Points and Arguments Traffic Demand and Infrastructure Utility - There is a confirmed traffic demand between the two locations discussed, indicating that without the new road, travel times would significantly increase due to detours [1][2] - The connection to the airport has improved convenience, suggesting that the infrastructure is meeting public needs [2] Traffic Flow and Performance - Traffic flow data for October indicates stability, with no significant changes compared to previous months, despite the national holiday [3][4] - During the National Day holiday, traffic volume increased, particularly for small vehicles, which accounted for 80-90% of traffic, contributing approximately 70% of revenue [5][6] Construction and Development Plans - The company is undergoing a five-year construction plan, with the first four years focused on expanding existing roadways without major disruptions to traffic [7][8] - The completion of the elevated roadway is expected by the end of 2028, with ongoing work on surface-level road improvements [8][9] Mergers and Acquisitions Strategy - The company is cautious about pursuing new projects outside its established regions, focusing instead on mature projects and potential acquisitions that align with its strategic goals [11][12] - There is a recognition of the challenges in finding suitable acquisition targets due to high price expectations and project viability concerns [13][14] Financial Performance and Capital Expenditure - The company plans to adjust its capital expenditure estimates to include new projects, with projected spending of approximately 30 billion annually over the next few years [23] - The overall borrowing costs have decreased, with a current average of 3.35%, reflecting a favorable interest rate environment [25][26] Policy and Regulatory Environment - The company is monitoring developments regarding the extension of toll collection periods, which could impact revenue and operational strategies [29][30] - There is an ongoing dialogue with regulatory bodies to ensure that the company’s interests are represented in policy discussions [31][32] Market Conditions and Future Outlook - The company acknowledges the challenges in achieving historical return rates on new projects due to increased costs and regulatory constraints [33][34] - There is a cautious optimism regarding the potential for policy changes that could enhance project viability and profitability in the future [34] Other Important but Overlooked Content - The company emphasizes the importance of maintaining stable dividend policies to build investor confidence amid market fluctuations [28] - The discussion highlights the need for careful project selection and risk management in the current economic climate, particularly in the context of infrastructure investments [12][17]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00548） 趙桂萍 聯席公司秘書 中國，深圳，2024年11月1日 香港中央證券登記有限公司 香港 灣仔 皇后大道東183號 合和中心17樓 1712-1716號舖 電話號碼: (852) 2862 8555 傳真號碼: (852) 2865 0990 由2024年11月8日起，本公司的股份過戶及登記手續申請此後應遞交至香港中央證券登記 有限公司辦理。 承董事會命 更換香港股份過戶登記分處 深圳高速公路集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，自2024年11 月8日起，本公司之香港過戶登記分處更換為： 於本公告之日，本公司董事會的成員包括執行董事廖湘文先生、姚海先生和文亮先生；非 執行董事戴敬明先生、李曉艶女士和呂大偉先生；以及獨立非執行董事李飛龍先生、繆軍 先生、徐華翔先生和顏延先生。 ...

| 证券代码：600548 | 股票简称：深高速 | | 公告编号：临 2024-087 | | --- | --- | --- | --- | | 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 | 深圳高速公路集团股份有限公司 2024 年 9 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、准确性和完整性承担法律责任。 深圳高速公路集团股份有限公司（"本公司"）董事会（"董事会"）谨此公告 本集团 2024 年 9 月的路费收入（未经审计）如下： | 收费公路 | 集团控股 | 收入合并 | 路费收入（人民币千元） | | | --- | --- | --- | --- | --- | | | 比例 | 比例 | 总计 | 日均 ...

| 证券代码：600548 | 股票简称：深高速 | | | | 公告编号：临 | 2024-084 | | --- | --- | --- | --- | --- | --- | --- | | 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 | | | | 深圳高速公路集团股份有限公司 第九届董事会第四十八次会议决议公告 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。 重要内容提示： ● 董事姚海因个人休假原因未能亲自出席本次董事会，已委托董事廖湘文 代为出席并表决；董事戴敬明和李晓艳因公务原因未能亲自出席本次董事会，已 分别委托董事文亮代为出席并表决。 一、董事会会议召开情况 ...

| 证券代码：600548 | 股票简称：深高速 | | | 公告编号：临 | 2024-085 | | --- | --- | --- | --- | --- | --- | | 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 | | | 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。 重要内容提示： ● 监事王超因公务原因未能亲自出席本次监事会，已委托监事叶辉晖代为 出席并表决。 一、监事会会议召开情况 (一) 深圳高速公路集团股份有限公司（"本公司"、"公司"）第九届监事会 第二十九次会议（"本次会议"、"会议"）的召开符合公司股票上市地相关法律、 行政法规、部门规章、规范性文件和《公司章程 ...