Group 1 - The company has reached a mediation agreement with the Jiujiang Transportation Bureau regarding a dispute over compensation for assets related to the Wuning Shatian New District passenger station, with a total amount involved of 35,061,682.08 yuan [2][4] - The mediation agreement stipulates that the company will receive a refund of 7,651,171.73 yuan from the Jiujiang Transportation Bureau after fulfilling the payment obligations as per the court's judgment [8][9] - The company has already paid 15,302,343.45 yuan to the Jiujiang Transportation Bureau as per the court's ruling [6][7] Group 2 - The company’s subsidiary, Jiangxi Changyun Jinan Public Transport Co., Ltd., is set to sign a land acquisition compensation agreement with the Jinan Municipal Government for a land parcel valued at 4,199,588 yuan [14][17] - The land being acquired is 3,674.18 square meters, previously used as the company's old office and parking lot, and the acquisition will not impact the subsidiary's operations [21][29] - The compensation from the land acquisition is expected to increase the company's total profit by 3.02 million yuan for the year 2025 [29]

Core Viewpoint - The railway and highway sector experienced a rise of 0.88% on October 10, with Dongguan Holdings leading the gains, while the overall stock market indices saw declines [1][3]. Group 1: Market Performance - On October 10, the Shanghai Composite Index closed at 3897.03, down 0.94%, and the Shenzhen Component Index closed at 13355.42, down 2.7% [1]. - The railway and highway sector stocks showed varied performance, with Dongguan Holdings closing at 12.01, up 5.35%, and other notable gainers including Ninghu Highway and Fulian Yuanye [1]. Group 2: Stock Details - Key stocks in the railway and highway sector included: - Dongguan Holdings (000828): Closed at 12.01, up 5.35%, with a trading volume of 243,600 shares and a transaction value of 291 million yuan [1]. - Ninghu Highway (600377): Closed at 12.92, up 3.19%, with a trading volume of 142,300 shares and a transaction value of 182 million yuan [1]. - Fulian Yuanye (002357): Closed at 10.28, up 2.80%, with a trading volume of 280,900 shares and a transaction value of 299 million yuan [1]. Group 3: Capital Flow - The railway and highway sector saw a net inflow of 42.37 million yuan from main funds, while retail funds experienced a net outflow of 73.74 million yuan, and individual investors contributed a net inflow of 31.37 million yuan [3].

Core Viewpoint - Jiangxi Changyun (600561.SH) announced that its subsidiary, Jiangxi Changyun Jinan Public Transport Co., Ltd. (referred to as "Jinan Bus"), plans to sign a "Land Acquisition Compensation Agreement" with the Jinan City State-owned Land House Expropriation and Compensation Affairs Center and the Jinan City House Expropriation and Compensation Service Center, with compensation for land use rights amounting to 4.199588 million yuan [1] Group 1 - The subsidiary involved in the agreement is Jiangxi Changyun Jinan Public Transport Co., Ltd. [1] - The compensation amount for the land use rights is set at 4.199588 million yuan [1] - The land in question is located at No. 61, Changgang South Road, Jizhou District [1]

ADVISER 报告书 Written report 江西佳正房地产土地资产评估有限公司 JIAZHENG REAL ESTATE LAND ASSETS EVALUATION CO., LTD 节 士 价 报 地 估 朝"这要粛南路 61 号 2 名 称:关于吉安立 目 项 号地块 宗公共设施周地国有建设 用地使用权收储价格评估报告 二、委托估价方 名称:吉安市国有土地上房屋征收与补偿事务中心 地址:吉安市吉州南大道6号 邮政编码:343000 三、估价目的 受 托 估 价 单位:江西佳正房地产土地资产评估有限公司 土地估价报告编号:赣佳正[2025](土估)字第 03034 号 提交估价报告日期:二0二五年三月二十四日 土 地 估 价 报 告 l 第一部分 摘要 一、估价项目名称 关于吉安市吉州区长岗南路 61 号2 号地块一宗公共设施用地国有 建设用地使用权收储价格评估 吉安市国有土地上房屋征收与补偿事务中心委托我司对位于吉 安市吉州区长岗南路 61号2号地块一宗公共设施用地国有建设用地 使用权市场价格进行评估,估价目的为估价委托人在收储国有土地使 用权过程中确定公平合理补偿金额提供价格参考。 四、估价 ...

证券代码：600561 证券简称：江西长运 公告编号：临 2025-049 江西长运股份有限公司关于子公司江西长运吉安公 共交通有限责任公司位于吉州区长岗南路 61 号 2 号地块土地使用权征收补偿的公告 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。 重要内容提示： 江西长运股份有限有限公司（以下简称"公司"）子公司江西长运吉安公 共交通有限责任公司（以下简称"吉安公交"）拟与吉安市国有土地上房屋征收 与补偿事务中心、吉安市房屋征收与补偿服务中心签署《土地征收补偿协议》， 吉安市国有土地上房屋征收与补偿事务中心拟按照土地的估价结果，以 419.9588万元对吉安公交位于吉州区长岗南路61号2号地块土地使用权进行征 收补偿。 本次交易不构成关联交易 本次交易不构成重大资产重组 本次交易已经公司第十届董事会第三十次会议审议通过，无需提交股东 会审议。 1、本次交易概况 因城市规划建设需要，吉安市国有土地上房屋征收与补偿事务中心拟对公司 控股子公司江西长运吉安公共交通有限责任公司位于吉州区长岗南路 61 号 2 号 地块土地使用权 ...

证券代码：600561 证券简称：江西长运 公告编号：临 2025-048 江西长运股份有限公司 涉及诉讼的进展公告 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： 是否会对上市公司损益产生负面影响：本次在江西省高级人民法院主持 下，公司与九江市交通运输局达成调解，若调解协议顺利履行，九江市交通运输 局将退还公司款项计 7,651,171.73 元。公司将依据企业会计准则的规定及调解 协议履行情况进行相应会计处理，最终会计处理及影响金额以会计师事务所审计 确认后的结果为准。 一、本次诉讼的基本情况 2022 年 6 月 7 日，江西长运股份有限公司（以下简称"公司"或"本公司"） 与子公司江西九江长途汽车运输集团有限公司（以下简称"九江长运"）收到南 昌市西湖区人民法院（2022）赣 0103 民初 5240 号《应诉通知书》，原告九江交 通商贸有限公司（以下简称"九江交通商贸"）因武宁县沙田新区客运站对价纠 纷事项对公司和九江长运提起诉讼。 江西省南昌市西湖区人民法院于 2022 年 6 月出具（202 ...

证券代码：600561 证券简称：江西长运 公告编号：临 2025-047 江西长运股份有限公司 第十届董事会第三十次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 江西长运股份有限公司于2025年9月29日以专人送达与邮件送达相结合的方 式向全体董事发出召开第十届董事会第三十次会议的通知，会议于2025年10月9 日以通讯表决方式召开。会议应参加董事8人，实际参与表决董事8人。会议符合 有关法律、行政法规、部门规章、规范性文件和公司章程的规定。 二、董事会会议审议情况 参与表决的董事认真审议了本次会议议案，以通讯表决方式通过如下决议： （一）审议通过了《关于拟签署调解协议书的议案》（详见刊载于上海证券 交易所网站http://www.sse.com.cn《江西长运股份有限公司涉及诉讼的进展公 告》） 本议案表决情况：同意8票，反对0票，弃权0票，审议结果：通过。 （二）审议通过了《关于子公司江西长运吉安公共交通有限责任公司位于吉 州区长岗南路61号2号地块土地使用权征收补偿的议案》 ...

Market Overview - On September 29, the railway and highway sector rose by 0.41% compared to the previous trading day, with Fulin Transportation leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Notable gainers in the railway and highway sector included: - Fulin Transportation (002357) with a closing price of 10.00, up 2.35% on a trading volume of 83,100 shares and a turnover of 82.01 million yuan [1] - Anhui Expressway (600012) closed at 13.57, up 1.95% with a trading volume of 151,300 shares and a turnover of 204 million yuan [1] - Dongguan Holdings (000828) closed at 11.33, up 1.80% with a trading volume of 84,900 shares and a turnover of 95.34 million yuan [1] Fund Flow Analysis - The railway and highway sector experienced a net outflow of 274 million yuan from institutional investors, while retail investors saw a net inflow of 178 million yuan [2] - The sector's overall fund flow indicated that retail investors were more active compared to institutional investors on that day [2] Individual Stock Fund Flow - Key stocks with significant fund flow included: - Haikou Group (603069) with a net inflow of 20.84 million yuan from institutional investors, but a net outflow of 19.49 million yuan from retail investors [3] - Sichuan Chengyu (601107) had a net inflow of 7.74 million yuan from institutional investors, while retail investors saw a net outflow of 612.25 million yuan [3] - Hainan Expressway (000886) recorded a net inflow of 11.83 million yuan from institutional investors, but retail investors had a net outflow of 660.90 million yuan [3]

Core Viewpoint - The company held a half-year performance briefing on September 26, 2025, to discuss its financial results and future strategies with investors [1] Group 1: Performance Overview - In the first half of 2025, the company reported a decrease in operating revenue by 16.63 million yuan compared to the same period last year, while operating costs increased by 19.62 million yuan [2] - The net profit attributable to shareholders for the first half of 2025 was 5.72 million yuan, primarily due to an increase in government subsidies related to daily operations by 47.82 million yuan [2][6] Group 2: Future Plans - For the second half of 2025, the company plans to focus on service optimization, cost reduction, and efficiency improvement, while enhancing platform operation capabilities through digital transformation [3] - The company is in the process of formulating its "15th Five-Year" strategic plan, which will consider macroeconomic conditions and industry changes to enhance customer-centric operations and digital capabilities [9] Group 3: Technology and Innovation - The company is committed to leveraging technology and digital empowerment, particularly in big data and AI, to improve operational and management efficiency [4] Group 4: Shareholder Support - The controlling and indirect controlling shareholders are actively supporting the company's development through strategic guidance and governance improvements [5] Group 5: Cash Flow and Financial Management - The net cash flow from operating activities for the first half of 2025 was 158 million yuan, representing a 14.34% increase year-on-year, attributed to higher cash receipts from sales and other operating activities [12] - The company has established a value management system to enhance its market value through improved operational quality and compliance management [10]

Group 1: Report Overview - Reported company: Jiangxi Changyun [16] - Industry: Railways and Highways [2] - Research date: September 26, 2025 [1] Group 2: Core Views - In the first half of 2025, the company's revenue decreased, but net profit was positive due to increased government subsidies [23] - In the second half of 2025, the company will focus on service optimization, cost - reduction, and efficiency - improvement [23] - The company is formulating its "15th Five - Year" plan, aiming at transformation and seeking new growth points [26] - The company attaches great importance to market value management and has formulated a relevant system [27] Group 3: Summary by Directory 01. Basic Research Information - Research object: Jiangxi Changyun [16] - Industry: Railways and Highways [16] - Reception time: September 26, 2025 [16] - Company reception staff: Chairman Wang Xiao, Independent Director Xiao Zhengshan, Director and Deputy General Manager Liu Lei, Financial Controller Fu Linyan, and Board Secretary Wei Chunyun [16] 02. Detailed Research Institutions - Institutions involved: Investors and others [19] 03. Proportion of Research Institutions - No specific proportion information provided 04. Main Content Data - **Profit growth in H1 2025**: Revenue decreased by 16.6275 million yuan year - on - year, cost increased by 19.6217 million yuan, but government subsidies increased by 47.8225 million yuan, resulting in a net profit of 5.7227 million yuan [23] - **H2 2025 business plan**: Focus on service optimization, integration, cost - reduction, and efficiency - improvement, promote asset light - transformation, and improve risk management [23][24] - **AI application**: The company pays attention to AI and other technologies to improve operation and management efficiency [24] - **Support from major shareholders**: Shareholders support the company in governance and industrial planning, and will disclose relevant plans as required [25] - **Other income in H1 2025**: 237 million yuan, mainly including line and operation subsidies, bus staff subsidies, fuel subsidies, and new - energy subsidies [25] - **Revenue decrease in H1 2025**: Mainly due to a 38.0469 million yuan decrease in road passenger transport revenue, a 10.7592 million yuan decrease in sales revenue, and a 49.7466 million yuan increase in road freight revenue [25] - **"15th Five - Year" plan**: Under formulation, aiming at customer - centered transformation, technology - driven development, and seeking new growth points [26] - **Market value management**: A system was formulated in August 2025, focusing on improving company quality and using multiple methods to enhance market value [27] - **Search for high - quality assets**: The company is open to cooperation, evaluates potential targets carefully, and will disclose as required [27][28] - **Improvement in operating cash flow in H1 2025**: Net cash flow from operating activities was 158 million yuan, a 14.34% increase year - on - year, mainly due to increased cash inflows [28]