Financial Performance - The company achieved operating revenue of CNY 1,787,076,585.60 in 2017, representing a 258.07% increase compared to CNY 499,084,199.62 in 2016[20]. - The net profit attributable to shareholders of the listed company was CNY 352,762,632.14, an increase of 22.01% from CNY 289,126,844.45 in the previous year[20]. - The net cash flow from operating activities reached CNY 680,900,622.05, up 115.62% from CNY 315,784,229.04 in 2016[20]. - The company's total assets decreased by 10.17% to CNY 4,873,632,757.94 at the end of 2017, down from CNY 5,425,534,205.19 in 2016[20]. - The net assets attributable to shareholders increased by 6.52% to CNY 4,008,869,351.40 compared to CNY 3,763,526,776.56 at the end of 2016[20]. - Basic earnings per share rose to CNY 0.2681, a 22.03% increase from CNY 0.2197 in 2016[22]. - The weighted average return on net assets improved to 9.05%, an increase of 1.22 percentage points from 7.83% in the previous year[22]. - The company reported a net profit margin of 30.21% for the year 2017, with a total net profit of 352,762,632.14 RMB[76]. - The company reported a net profit of 391,238,433.07 RMB for the current period, compared to 283,632,075.28 RMB in the previous period, indicating a significant increase in profit[82]. Revenue Sources - The company’s main business income from tolls on the Harbin-Daqing Expressway reached CNY 402 million in 2017[37]. - The company achieved a toll revenue of CNY 402 million for the year 2017, indicating stable income generation from its core business[34]. - The subsidiary Longyun Modern generated operating income of CNY 89.54 million and a net profit of CNY 12.2 million in 2017[39]. - The rental operation segment's revenue was ¥96.54 million, with a gross margin of 37.22%, showing a year-on-year decrease of 14.24 percentage points[49]. - The real estate development segment generated ¥1.28 billion in revenue, with a significant increase in operating costs by 565.04% year-on-year, primarily due to the completion and delivery of the "Xiang'an Yishu" project[53]. Cash Flow and Investments - The company’s net cash flow from operating activities was CNY 680,900,622.05, an increase of 115.62% compared to CNY 315,784,229.04 in the previous year[45]. - The company’s investment activities generated a net cash flow of ¥144.96 million, an increase of ¥324.35 million year-on-year, mainly from bank deposit investments[54]. - Cash inflow from investment activities totaled ¥229,711,958.33, up from ¥54,638,863.18, marking an increase of approximately 319.5% year-over-year[159]. - Cash inflow from other investment-related activities surged to ¥198,095,500.00 from ¥52,000,000.00, an increase of about 280.2% year-over-year[159]. Operational Efficiency - The company has outlined potential risks in its future development strategy, which investors should be aware of[6]. - The company maintains a strong governance structure, adhering to relevant laws and regulations, which enhances its operational efficiency and management effectiveness[35]. - The company has committed to reducing related party transactions to mitigate risks associated with competition and regulatory scrutiny[78]. - The company will explore diversified services in the expressway sector, including logistics, passenger transport, catering, surrounding real estate, and tourism, to mitigate risks associated with the core business[67]. Shareholder Information - The largest shareholder, Longgao Group, reduced its stake from 52.17% to 33.48% after transferring 246 million shares[103]. - The second largest shareholder, Yuanlong Jingyun, holds 16.89% of the company's shares, while the third largest shareholder, China Merchants Highway, holds 16.52%[103]. - The total number of ordinary shareholders increased from 54,551 to 55,806 during the reporting period[104]. - The company has not made any changes to its total ordinary share capital during the reporting period[102]. Future Plans and Strategies - The company plans to achieve an operating income of 820 million RMB in 2018, with a focus on increasing toll revenue from the Ha-Da Expressway by over 3% year-on-year[69]. - The company aims to complete an investment of 110 million RMB in the third phase of the Qunli real estate project in 2018, targeting total sales of 296 million RMB for the year[70]. - The company is set to invest in new fields and optimize its industrial layout to cultivate new growth points for future dual-main business development[70]. - The company will continue to enhance service levels and profitability in the context of ongoing transportation reforms and technological advancements[66]. Compliance and Governance - The company has committed to maintaining independence in its operations and governance structure post-restructuring, in compliance with regulatory requirements[79]. - The company has retained Beijing Yongtuo Accounting Firm for the 2017 financial audit, with a fee of 400,000 RMB, continuing a relationship that has lasted for 8 years[85]. - The company has not reported any significant issues regarding the occupation of funds or the progress of debt recovery during the reporting period[81]. - The company has not faced any risks of suspension from listing during the reporting period[85]. Social Responsibility - The company has initiated a targeted poverty alleviation plan in Fuyuan City, including a donation of 1 million annually for three years to support impoverished students and families[96]. - A total of 33,580 yuan was raised from employee donations for poverty alleviation efforts in 2017[97]. - The company plans to implement a cold chain logistics park project in Fuyuan as part of its poverty alleviation strategy[98].

[Important Notice](index=3&type=section&id=%E4%B8%80%E3%80%81%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) [Statement on Report Authenticity](index=3&type=section&id=1.1%20%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%8F%8A%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E4%BF%9D%E8%AF%81%E5%AD%A3%E5%BA%A6%E6%8A%A5%E5%91%8A%E5%86%85%E5%AE%B9%E7%9A%84%E7%9C%9F%E5%AE%9E%E3%80%81%E5%87%86%E7%A1%AE%E3%80%81%E5%AE%8C%E6%95%B4) The Board of Directors, Supervisory Board, and senior management affirm the report's truthfulness and completeness, with financial statements unaudited for the first quarter - Company management guarantees the truthfulness, accuracy, and completeness of the report content and financial statements[4](index=4&type=chunk) - This company's Q1 2018 report is unaudited[4](index=4&type=chunk) [Company Basic Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) Q1 2018 saw revenue of **141 million yuan** (+25.75%) and net profit of **83.17 million yuan** (+9.78%), despite a **54.35%** drop in operating cash flow Key Financial Indicators for Q1 2018 | Indicator | Current Period | Prior Year Period | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 141,326,903.23 | 112,391,343.08 | 25.75% | | Net Profit Attributable to Shareholders (Yuan) | 83,171,657.21 | 75,761,376.68 | 9.78% | | Net Cash Flow from Operating Activities (Yuan) | 66,758,170.25 | 146,241,411.34 | -54.35% | | Basic Earnings Per Share (Yuan/Share) | 0.063 | 0.058 | 8.62% | | Weighted Average Return on Net Assets (%) | 2.05% | 2.00% | Increased by 0.05 percentage points | | **Indicator** | **Period-End** | **Prior Year-End** | **Period-End vs. Year-Start Change (%)** | | Total Assets (Yuan) | 4,924,718,975.30 | 4,873,632,757.94 | 1.05% | | Net Assets Attributable to Shareholders (Yuan) | 4,091,959,464.69 | 4,008,869,351.40 | 2.07% | Details of Non-Recurring Gains and Losses | Item | Current Period Amount (Yuan) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -20,243.66 | - | | Fair Value Changes and Investment Income from Trading Financial Assets/Liabilities | 3,654,735.57 | Fair value change income from subsidiary's stock holdings | | Other Non-Operating Income and Expenses | -871,229.26 | Company's poverty alleviation donation expenses | | Impact on Minority Interests (After Tax) | -27,188.34 | - | | Income Tax Impact | 222,868.23 | - | | **Total** | **2,958,942.54** | - | [Shareholder Holding Status](index=4&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of Q1 2018, the company had **54,551** shareholders, with the top three holding **68.69%** and no stated related party relationships - As of the end of the reporting period, the company had **54,551** shareholders[10](index=10&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Period-End Holding Quantity (Shares) | Proportion (%) | | :--- | :--- | :--- | | Heilongjiang Provincial Expressway Group Co. | 440,482,178 | 33.48 | | Heilongjiang Yuanlong Jingyun Investment Management Partnership (Limited Partnership) | 246,000,000 | 18.69 | | China Merchants Highway Network Technology Holdings Co., Ltd. | 217,396,393 | 16.52 | - No related party relationships or concerted actions exist among the company's top three shareholders as defined by the "Measures for the Administration of the Takeover of Listed Companies"[12](index=12&type=chunk) [Significant Matters](index=5&type=section&id=%E4%B8%89%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Significant Changes and Reasons for Key Financial Items](index=5&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Key financial items saw significant changes, including a **57.90%** rise in operating costs and a **54.35%** decline in operating cash flow due to real estate pre-sales Changes in Key Financial Items | Item | Change Magnitude (%) | Reason | | :--- | :--- | :--- | | Operating Cost | 57.90% | Recognition of costs from partial delivery of residential units by subsidiary Xintong Real Estate | | Financial Expenses | 200.61% | Increase in interest income due to higher cash reserves | | Non-Operating Expenses | 482.05% | Increase in company's external poverty alleviation donations | | Net Cash Flow from Operating Activities | -54.35% | Decrease in real estate pre-sales from subsidiary Xintong Real Estate | [Other Significant Matters](index=5&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) The company reports no significant undisclosed matters, unfulfilled commitments, or forecasted cumulative net profit changes for the period - No analysis or explanation of the progress, impact, or solutions for significant matters during the reporting period[12](index=12&type=chunk) - No overdue unfulfilled commitments during the reporting period[15](index=15&type=chunk) - The company has not issued a profit warning or forecasted significant changes in cumulative net profit from the beginning of the year to the end of the next reporting period[15](index=15&type=chunk) [Appendix](index=7&type=section&id=%E5%9B%9B%E3%80%81%20%E9%99%84%E5%BD%95) [Financial Statements](index=7&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This appendix presents the company's unaudited consolidated and parent company financial statements for Q1 2018 [Consolidated Balance Sheet](index=7&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of March 31, 2018, consolidated total assets reached **4.925 billion yuan** (+1.05%), with total liabilities at **760 million yuan** (-4.46%) Key Items from Consolidated Balance Sheet (Unit: Yuan) | Item | Period-End Balance | Year-Start Balance | | :--- | :--- | :--- | | Total Assets | 4,924,718,975.30 | 4,873,632,757.94 | | Total Liabilities | 759,565,517.97 | 795,035,544.36 | | Total Equity Attributable to Parent Company Owners | 4,091,959,464.69 | 4,008,869,351.40 | | Total Liabilities and Equity | 4,924,718,975.30 | 4,873,632,757.94 | [Parent Company Balance Sheet](index=10&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of March 31, 2018, the parent company reported total assets of **3.857 billion yuan** and total owner's equity of **3.692 billion yuan** Key Items from Parent Company Balance Sheet (Unit: Yuan) | Item | Period-End Balance | Year-Start Balance | | :--- | :--- | :--- | | Total Assets | 3,857,300,009.39 | 3,780,914,341.68 | | Total Liabilities | 165,203,740.27 | 162,065,950.54 | | Total Owner's Equity | 3,692,096,269.12 | 3,618,848,391.14 | [Consolidated Income Statement](index=12&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) Q1 2018 consolidated total operating revenue reached **141 million yuan** (+25.75%), with net profit attributable to parent shareholders at **83.17 million yuan** (+9.78%) Key Items from Consolidated Income Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 141,326,903.23 | 112,391,343.08 | | III. Operating Profit | 102,873,289.02 | 89,110,807.54 | | IV. Total Profit | 101,981,816.10 | 89,457,264.79 | | Net Profit Attributable to Parent Company Shareholders | 83,171,657.21 | 75,761,376.68 | | Basic Earnings Per Share (Yuan/Share) | 0.063 | 0.058 | [Parent Company Income Statement](index=14&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) Q1 2018 parent company operating revenue was **80.49 million yuan**, with net profit at **73.25 million yuan**, both slightly down year-on-year Key Items from Parent Company Income Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Operating Revenue | 80,494,603.76 | 87,140,260.83 | | II. Operating Profit | 86,099,006.32 | 86,868,405.53 | | IV. Net Profit | 73,247,877.98 | 74,292,011.68 | [Consolidated Cash Flow Statement](index=16&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Q1 2018 consolidated net operating cash flow significantly decreased by **54.35%** to **66.76 million yuan**, with cash and equivalents at **1.08 billion yuan** Key Items from Consolidated Cash Flow Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 66,758,170.25 | 146,241,411.34 | | Net Cash Flow from Investing Activities | 712,664.84 | -2,226,735.23 | | Net Cash Flow from Financing Activities | -550,000.00 | -30,415,625.00 | | Net Increase in Cash and Cash Equivalents | 66,920,835.09 | 113,599,051.11 | | Cash and Cash Equivalents at Period-End | 1,079,883,603.25 | 703,292,166.48 | [Parent Company Cash Flow Statement](index=18&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Q1 2018 parent company net operating cash flow was **51.91 million yuan**, largely stable, with a **6.87 million yuan** net inflow from investing activities Key Items from Parent Company Cash Flow Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 51,907,090.73 | 53,490,867.04 | | Net Cash Flow from Investing Activities | 6,873,302.00 | 0.00 | | Net Increase in Cash and Cash Equivalents | 58,780,392.73 | 53,490,867.04 |

公司代码：601188 公司简称：龙江交通 黑龙江交通发展股份有限公司 2017 年第三季度报告 法定代表人：孙熠嵩 | | 目 录 | | | --- | --- | --- | | 一、 | 重要提示 | 3 | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2017 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人孙熠嵩、主管会计工作负责人侯彦龙及会计机构负责人（会计主管人员）李金华 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | | 本报告期末比上年度末 | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 增减(%) | | | ...

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 237,199,099.61, a decrease of 0.35% compared to the same period last year[22]. - The net profit attributable to shareholders for the first half of 2017 was CNY 181,225,663.68, an increase of 9.10% year-on-year[22]. - The net cash flow from operating activities reached CNY 350,842,977.49, a significant increase of 1,834.51% compared to the previous year[22]. - Basic earnings per share for the first half of 2017 were CNY 0.14, representing a 7.69% increase compared to the same period last year[23]. - The weighted average return on equity was 4.71%, an increase of 0.19 percentage points year-on-year[23]. - The company achieved operating revenue of CNY 237,199,099.61, a slight decrease of 0.35% compared to the previous year[37]. - The net profit for the period was CNY 181,225,663.68, reflecting a year-on-year growth of 9.10%[34]. - Toll revenue from the Ha-Da Expressway reached CNY 187,529,942.32, contributing to stable growth in operating income[34]. - The company’s financial expenses decreased by 175.20%, indicating improved financial management[37]. - The company reported a total of CNY 3,658,303.70 in non-recurring gains and losses for the period[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,706,146,738.19, reflecting a growth of 5.30% from the end of the previous year[22]. - The net assets attributable to shareholders increased to CNY 3,850,959,813.60, up by 2.51% from the previous year[22]. - Total assets increased by 5.30% year-on-year, amounting to CNY 5,706,146,738.19[34]. - The company’s total liabilities were CNY 1,824,774,513.71, rising from CNY 1,630,300,822.23, which represents an increase of approximately 11.93%[69]. - The company's equity attributable to shareholders was CNY 3,850,959,813.60, up from CNY 3,756,752,045.56, showing a growth of around 2.51%[70]. - Current assets totaled CNY 2,869,038,069.63, up from CNY 2,611,074,095.85 at the start of the period, reflecting a growth of approximately 9.87%[68]. - Non-current assets reached CNY 2,837,108,668.56, compared to CNY 2,807,685,378.34 at the beginning of the period, indicating an increase of about 1.07%[69]. - The total equity at the end of the current period is CNY 3,881,372,224.48, showing an increase from the previous year[89]. Cash Flow - The company maintained a strong cash flow position, with net cash from operating activities remaining robust during the reporting period[80]. - Operating cash inflow for the current period reached ¥586,154,952.55, a significant increase from ¥340,209,477.93 in the previous period, representing a growth of approximately 72.5%[81]. - Net cash flow from operating activities was ¥350,842,977.49, compared to only ¥18,135,984.19 in the previous period, indicating a substantial improvement[81]. - The net increase in cash and cash equivalents for the period was ¥250,228,944.01, compared to ¥103,201,558.54 in the previous period, showing a growth of approximately 142.5%[82]. - The ending balance of cash and cash equivalents was ¥839,922,059.38, up from ¥475,302,083.59 in the previous period, indicating a growth of about 76.6%[82]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 59,595[58]. - The largest shareholder, Heilongjiang Highway Group Company, held 686,482,178 shares, accounting for 52.17% of the total shares[61]. - The second-largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., held 217,396,393 shares, representing 16.52% of the total shares[61]. - Zhang Gaoming increased his holdings by 511,704 shares, bringing his total to 8,501,704 shares, which is 0.65% of the total[61]. - The company did not report any changes in its share capital structure during the reporting period[58]. Corporate Governance and Compliance - The company has committed to reducing related party transactions and will strictly comply with relevant laws and regulations[49]. - The controlling shareholder has pledged not to sell company shares during periods of abnormal market fluctuations, demonstrating confidence in the company's future[50]. - There are no significant lawsuits or arbitration matters reported during the reporting period, indicating a stable legal environment for the company[52]. - The company has maintained its independence in operations, assets, finance, and personnel, aligning with regulatory requirements for listed companies[50]. - The company has committed to avoiding competition with its own subsidiaries and related parties, ensuring a clear operational focus[50]. - The company has undertaken measures to ensure effective corporate governance structures post-restructuring[50]. Accounting Policies and Practices - The financial statements are prepared based on the going concern principle, with no significant doubts about the company's ability to continue operations[107]. - The accounting policies include provisions for bad debts, depreciation of fixed assets, and revenue recognition[108]. - The company adheres to the Chinese Accounting Standards, ensuring that financial statements reflect the true financial condition and operating results[109]. - The company recognizes its share of assets and liabilities in joint operations and confirms income from the sale of joint operation outputs[119]. - The company measures financial assets and liabilities at fair value upon initial recognition, with transaction costs directly expensed for those measured at fair value[122]. Revenue Recognition - The company recognizes revenue from vehicle tolls upon receipt of payment or relevant documentation[167]. - Revenue from taxi operations is recognized when services are provided and payment is received or documented[167]. - For product sales, revenue is recognized when the risks and rewards of ownership are transferred to the buyer, and the amount can be reliably measured[168]. - Revenue from real estate development is recognized based on the terms of the construction contract and the buyer's ability to influence design[169]. Risks and Future Plans - The company faces macroeconomic risks that could negatively impact traffic volume and toll revenue[43]. - The company is planning to diversify its operations to reduce reliance on toll revenue due to potential policy changes affecting highway tolls[44]. - The company is actively monitoring changes in road network planning to mitigate the impact of traffic diversion on toll revenue[45].

Financial Performance - In 2016, the company achieved a net profit of CNY 110,051,393.59, with a proposed dividend distribution of CNY 0.66 per share, totaling CNY 86,847,985.69[4]. - The company's operating revenue for 2016 was CNY 499,084,199.62, a decrease of 0.98% compared to CNY 504,030,630.81 in 2015[19]. - The net profit attributable to shareholders increased by 4.73% to CNY 289,126,844.45 from CNY 276,057,325.80 in the previous year[19]. - The net cash flow from operating activities rose by 9.00% to CNY 315,784,229.04, compared to CNY 289,722,388.99 in 2015[19]. - Total assets at the end of 2016 reached CNY 5,418,759,474.19, reflecting a 14.73% increase from CNY 4,723,115,941.05 in 2015[20]. - The company's net assets attributable to shareholders increased by 4.5% to CNY 3,756,752,045.56 from CNY 3,594,994,269.05 in 2015[20]. - Basic earnings per share for 2016 were CNY 0.2197, up 4.72% from CNY 0.2098 in 2015[21]. - The weighted average return on equity was 7.83%, slightly down from 7.94% in the previous year[21]. - The company achieved a total toll revenue of CNY 393 million for the year, indicating stable income from its main business of highway toll management[34]. - The company reported a toll revenue of CNY 393 million for the period, an increase of 1.9% year-on-year[54]. Cash Flow and Investments - The total cash inflow for the reporting period was CNY 1,239.91 million, an increase of 30.59% year-on-year[50]. - Total cash outflow for the reporting period was CNY 1,169.26 million, an increase of 30.72% year-on-year[50]. - Net increase in cash and cash equivalents for the period was CNY 260.10 million[50]. - Operating cash inflow was CNY 1,035.27 million, up 11.15% year-on-year, mainly due to fuel subsidies received[50]. - Operating cash outflow was CNY 719.49 million, up 12.13% year-on-year, primarily for fuel subsidies and contract performance deposits[50]. - The company achieved an investment income of CNY 123,993,424.04, an increase of 33.4% from CNY 92,941,143.39 in the previous year[138]. - The net cash flow from operating activities for the year was ¥241,073,757.84, an increase of 17.9% compared to ¥204,477,223.26 in the previous year[148]. Operational Efficiency - The company’s management expenses decreased by 11.99% to CNY 61.47 million, reflecting improved cost control[45]. - The company maintained a technical condition index of over 91 for its highways, ensuring high service quality[39]. - The company executed a "green channel" policy, allowing 122,246 vehicles carrying fresh agricultural products to pass for free, resulting in a toll exemption of CNY 9.61 million[37]. - The company is actively expanding its business model beyond toll collection, responding to government initiatives and exploring new investment projects[30]. - The company aims to maintain a technical condition index of over 90 for its highways, ensuring a smooth and safe travel environment[63]. Strategic Initiatives - The company has implemented a diversification strategy, including investments in a taxi operation subsidiary and a local commercial bank, contributing positively to its financial performance[34]. - The company is exploring diversification projects in comprehensive transportation and road economy to foster new profit growth points[64]. - The company plans to enhance management through comprehensive budget management and performance management in 2017[65]. - The company is collaborating with Harbin Institute of Technology to develop environmentally friendly road repair technologies[65]. - The company will enhance the management and control of its subsidiaries to ensure compliance with major decision-making procedures and risk management[64]. Governance and Compliance - The company’s governance structure has been continuously improved, with a focus on compliance with relevant laws and regulations, enhancing operational efficiency[35]. - The company committed to avoiding related party transactions during its period as a major shareholder of Longjiang Transportation, ensuring compliance with relevant laws and regulations[74]. - The company made a commitment to avoid competition with Longjiang Transportation during its continued involvement, ensuring no engagement in competing businesses[74]. - The company will maintain independence in operations, assets, finances, personnel, and institutions in accordance with regulatory requirements[74]. - The independent directors did not raise any objections to the matters discussed in the board meetings during the reporting period[120]. Shareholder Information - The largest shareholder, Heilongjiang Highway Group, holds 686,482,178 shares, representing 52.17% of total shares[91]. - The second largest shareholder, China Merchants Highway Network Technology Holdings, holds 217,396,393 shares, accounting for 16.52%[91]. - The total number of ordinary shareholders at the end of the reporting period is 59,221, down from 66,526 at the end of the previous month[89]. - The company has not reported any changes in its ordinary share capital structure during the reporting period[86]. - The company has no reported changes in controlling shareholders during the reporting period[94]. Risk Management - The company has outlined potential risks in its future development strategy, which investors should be aware of[7]. - The company faces risks from macroeconomic fluctuations that could negatively impact traffic volume and toll revenue[66]. - The company is actively planning strategic upgrades and diversification to mitigate risks associated with the expiration of toll operation rights[67]. - The company will monitor changes in national highway toll policies that may affect revenue growth[66]. - The company aims to increase the proportion of non-main business operations to reduce reliance on toll revenue[67]. Employee and Management - The total number of employees in the parent company was 554, while the total number of employees including major subsidiaries was 749[110]. - The company has implemented a leading compensation strategy for key positions to prevent talent loss while managing labor costs[111]. - The company established a layered training system to support employee growth and align with corporate needs[112]. - The total remuneration for all directors, supervisors, and senior management was 2.9548 million yuan[108]. - The company has a total of 57 retired employees for which it bears costs[110]. Financial Reporting and Audit - The audit opinion confirmed that the financial statements fairly represent the company's financial position as of December 31, 2016[127]. - The company retained Beijing Yongtuo Accounting Firm as its financial and internal control auditor for the 2016 fiscal year, with an audit fee of CNY 400,000[78]. - The company has not reported any significant deficiencies in internal control during the reporting period[123]. - The company has not disclosed any significant contracts or their performance status during the reporting period[84]. - The company has not reported any significant related party transactions that have progressed or changed during the reporting period[83].

公司代码：601188 公司简称：龙江交通 黑龙江交通发展股份有限公司 2017 年第一季度报告 1 / 18 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 7 | 2017 年第一季度报告 2017 年第一季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.3 公司负责人孙熠嵩、主管会计工作负责人侯彦龙及会计机构负责人（会计主管人员）李金华保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | | | | 减(%) | | | 总资产 | 5,599,116,373.27 | 5,418,75 ...

2016 年第三季度报告 公司代码：601188 公司简称：龙江交通 黑龙江交通发展股份有限公司 2016 年第三季度报告 法定代表人：孙熠嵩 1 / 22 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2016 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人孙熠嵩、主管会计工作负责人侯彦龙及会计机构负责人（会计主管人员）李金华保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 22 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 5,228,330,079.67 4,723,115,941.05 10.70 归属于上 ...

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 238,027,072.85, a slight increase of 0.47% compared to CNY 236,924,461.51 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2016 was CNY 166,106,723.34, representing a year-on-year increase of 16.92% from CNY 142,063,682.49[21]. - The net profit after deducting non-recurring gains and losses was CNY 156,615,673.03, up 23.53% from CNY 126,786,026.05 in the previous year[21]. - Basic earnings per share for the first half of 2016 were CNY 0.126, up 16.67% from CNY 0.108 in the same period last year[22]. - The weighted average return on net assets increased to 4.52%, up 0.39 percentage points from 4.13% in the previous year[23]. - The company achieved operating revenue of ¥238,027,072.85, a year-on-year increase of 0.47%[27]. - Net profit attributable to shareholders reached ¥166,106,723.34, reflecting a growth of 16.92% compared to the previous year[27]. - Toll revenue amounted to ¥182,228,612.84, which is a 0.89% increase from the same period last year[28]. - The company reported a net profit of ¥100,263.33 from Longjiang Bank for the period, with total assets of ¥21,860,194.42[49]. - The company reported a total comprehensive income for the current period of CNY 150,482,142.96, reflecting the company's performance during the first half of the year[104]. Cash Flow and Investments - The net cash flow from operating activities decreased significantly to CNY 18,135,984.19, down 81.73% from CNY 99,277,617.06 in the same period last year[21]. - The company’s cash flow from operating activities decreased by 81.73% to ¥18,135,984.19 due to increased investments in real estate development[32]. - The company’s financing activities generated a net cash flow of ¥116,406,427.09, a significant increase of 632% year-on-year[32]. - Cash and cash equivalents at the end of the period totaled CNY 475,302,083.59, an increase from CNY 311,979,532.59 at the end of the previous year, representing a growth of about 52.5%[93]. - Cash flow from financing activities generated a net inflow of CNY 116,406,427.09, significantly higher than CNY 15,902,474.32 in the same period last year, indicating a growth of approximately 630.5%[93]. - Investment activities resulted in a net cash outflow of CNY 31,340,852.74, compared to a net outflow of CNY 8,276,839.56 in the previous year, reflecting an increase in investment activities[93]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,027,592,409.23, an increase of 6.45% compared to CNY 4,723,115,941.05 at the end of the previous year[21]. - The total liabilities reached CNY 1,310,982,956.65, compared to CNY 1,087,726,445.17 at the start of the period, marking an increase of around 20.52%[80]. - Current assets amounted to CNY 2,153,665,556.83, up from CNY 1,890,961,937.17, indicating an increase of about 13.88%[78]. - Non-current assets totaled CNY 2,873,926,852.40, slightly rising from CNY 2,832,154,003.88, representing an increase of approximately 1.67%[79]. - The company's total liabilities were CNY 251,099,791.58, compared to CNY 163,236,030.76 at the beginning of the year, indicating a significant increase of approximately 53.8%[83]. - The equity attributable to the parent company was CNY 3,678,104,003.36, up from CNY 3,594,994,269.05, showing a growth of about 2.32%[80]. Shareholder Information - The total number of shareholders reached 70,930 by the end of the reporting period[66]. - The largest shareholder, Heilongjiang Provincial Highway Group Company, holds 686,482,178 shares, accounting for 52.17% of the total shares[68]. - The second largest shareholder, China Merchants Huajian Highway Investment Co., Ltd., holds 217,396,393 shares, representing 16.52% of the total shares[68]. - The company distributed a cash dividend of ¥0.63 per 10 shares for the 2015 fiscal year, approved by the shareholders' meeting on May 25, 2016[50]. - The company has no plans for profit distribution or capital reserve conversion for the half-year period[51]. Corporate Governance and Compliance - The company has committed to maintaining independence in its operations and governance structure, complying with relevant regulations from the China Securities Regulatory Commission[62]. - The board of directors held one shareholders' meeting and two board meetings during the reporting period, adhering to legal and regulatory requirements[62]. - There were no significant changes in accounting policies or estimates during the reporting period[63]. - The company continues to focus on improving its corporate governance structure and practices[62]. - The company has not experienced any changes in its total share capital or share structure during the reporting period[64]. Legal and Regulatory Matters - The company is involved in a lawsuit regarding a deposit dispute amounting to CNY 5,610,745.34, with a court ruling in favor of the company in 2011[54]. - The company has a guarantee contract dispute with Heilongjiang Century Donggao Highway Investment Co., with a performance guarantee deposit of CNY 24,279,800[54]. - The company has disclosed related party transactions concerning property leasing with its controlling shareholder, Longgao Group, approved by the 2015 annual general meeting[56]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern principle, with no significant doubts about the company's ability to continue operations within the next 12 months[112]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status and operating results[114]. - The company's accounting currency is Renminbi (RMB)[117]. - The company has specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition based on its operational characteristics[113]. Market and Operational Strategy - The company plans to achieve an annual operating revenue target of ¥517 million, having completed 46.03% of this target by mid-year[35]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[90]. - The company operates in the highway management and maintenance industry, focusing on investment, development, construction, and management of toll roads[109].

Financial Performance - In 2015, the company achieved a net profit of CNY 174,486,842.34, with a proposed dividend of CNY 0.63 per 10 shares, totaling CNY 82,900,349.97[4]. - The company's operating revenue for 2015 was CNY 504,030,630.81, representing a 2.20% increase from CNY 493,157,962.38 in 2014[19]. - The net profit attributable to shareholders decreased by 8.75% to CNY 276,057,325.80 in 2015 from CNY 302,536,873.09 in 2014[19]. - The basic earnings per share for 2015 was CNY 0.21, down 8.69% from CNY 0.23 in 2014[20]. - The weighted average return on equity decreased by 1.39 percentage points to 7.94% in 2015 from 9.33% in 2014[21]. - The net profit for the year was CNY 276,057,325.80, reflecting a decline of 8.75% year-on-year[42]. - The company reported a total comprehensive income of CNY 288,897,985.05, compared to CNY 329,118,594.53 in the previous year, indicating a decrease of 12.2%[141]. Assets and Liabilities - The company's total assets increased by 14.03% to CNY 4,723,115,941.05 at the end of 2015, compared to CNY 4,142,059,442.62 at the end of 2014[19]. - The net assets attributable to shareholders rose by 5.97% to CNY 3,594,994,269.05 at the end of 2015, up from CNY 3,392,528,962.13 in 2014[19]. - The company's total liabilities reached CNY 1,087,726,445.17, compared to CNY 704,266,733.62, marking an increase of approximately 54%[132]. - Owner's equity attributable to shareholders increased to ¥3,594,994,269.05 from ¥3,392,528,962.13, reflecting a growth of around 6%[133]. Cash Flow - The cash flow from operating activities net amount was CNY 289,722,388.99, a decrease of 9.48% from CNY 320,068,196.62 in 2014[19]. - The net cash flow from operating activities was CNY 101 million in the first quarter, but turned negative at CNY -1.73 million in the second quarter, before recovering to CNY 168 million in the third quarter[22]. - The total cash inflow for the reporting period was CNY 94,948.70 million, an increase of 26.17% year-on-year, while total cash outflow was CNY 89,446.27 million, up 33.25% year-on-year[52]. - The company's cash and cash equivalents increased to ¥377,711,270.39 from ¥210,687,026.11, representing a growth of approximately 79.5% year-over-year[131]. Revenue Sources - The toll revenue from the Ha-Da Expressway reached CNY 386,120,448.40, with a growth of 1.89% year-on-year[39]. - The company's total revenue for the first quarter was approximately CNY 111 million, increasing to CNY 149 million in the third quarter, before dropping to CNY 117 million in the fourth quarter[22]. - The subsidiary Longyun Modern's revenue was CNY 112,597,393.60, showing a year-on-year increase of 14.99%[39]. Strategic Initiatives - The company has established a diversified development strategy, including the establishment of a taxi operation subsidiary and investment in Longjiang Bank[31]. - The company aims to enhance its revenue stability and cash flow through its main business of expressway toll management[35]. - The company is actively pursuing diversification to mitigate the limitations of its primary highway toll business[56]. - The company plans to diversify its business by expanding into logistics, passenger transport, catering, surrounding real estate, and tourism[67]. Risks and Challenges - The company has outlined potential risks in its future development strategies, which investors should be aware of[7]. - The company is addressing macroeconomic risks that could impact transportation volumes and toll revenues[69]. - The opening of the Harbin-Qiqihar high-speed railway has negatively impacted traffic flow on the Ha-Da Expressway, prompting the company to assess the effects of transportation alternatives[71]. Governance and Compliance - The company has made commitments to reduce related party transactions and ensure compliance with relevant laws and regulations[76]. - The company has appointed Beijing Yongtuo Accounting Firm for auditing services, with a remuneration of 400,000 CNY[79]. - The company faced no risks of suspension from listing during the reporting period[80]. - The independent directors did not raise any objections to the matters discussed in the board meetings during the reporting period[122]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 73,660, a decrease from 73,870 at the end of the previous month[91]. - The largest shareholder, Heilongjiang Provincial Highway Group, holds 686,482,178 shares, representing 52.17% of the total shares, with a reduction of 13,000,000 shares during the reporting period[93]. - The company has a total of 102,678,571 restricted shares that cannot be transferred for 36 months following a non-public offering[96]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 747, with 552 in the parent company and 195 in subsidiaries[112]. - The company has established a layered training system, combining internal and external training methods to support employee growth and corporate development[114]. - The total remuneration for the board members and senior management during the reporting period amounted to CNY 3.03 million[105]. Accounting and Financial Reporting - The company’s financial statements were audited and deemed to fairly reflect its financial position as of December 31, 2015[128]. - The company’s accounting policies are based on the accrual basis of accounting, in accordance with the relevant enterprise accounting standards[171]. - The company adopts fair value measurement for financial instruments, with initial recognition at fair value and subsequent changes recognized in profit or loss[189].

Financial Performance - Operating revenue decreased by 0.68% to CNY 110,252,250.70 year-on-year[6] - Net profit attributable to shareholders increased by 15.13% to CNY 74,049,738.40 compared to the same period last year[6] - Basic earnings per share rose by 20.00% to CNY 0.06[6] - The weighted average return on equity increased by 0.18 percentage points to 2.04%[6] - Total operating revenue for Q1 2016 was CNY 110,252,250.70, a decrease of 0.67% from CNY 111,004,975.74 in the same period last year[23] - Net profit for Q1 2016 increased by 15.06% to CNY 73,515,700.98 compared to CNY 63,532,276.98 in Q1 2015[23] - The company reported a gross profit margin of approximately 46.67% for Q1 2016, compared to 44.55% in Q1 2015[23] - The total comprehensive income for Q1 2016 was CNY 73,515,700.98, compared to CNY 63,532,276.98 in Q1 2015, marking a growth of 15.06%[24] Cash Flow and Liquidity - Net cash flow from operating activities decreased significantly by 151.62% to CNY -52,141,411.99[6] - Cash received from sales of goods and services decreased by 37.09% to ¥127,034,556.79, reflecting a decline in property sales at Xintong Real Estate[14] - Cash received related to operating activities increased by 78.64% to ¥34,831,253.31, due to higher performance bond receipts at Longyun Modern[14] - Cash paid for purchasing goods and services surged by 161.56% to ¥128,387,281.86, as Xintong Real Estate increased its development cost investments[14] - Cash flow from operating activities showed a net outflow of CNY -52,141,411.99, a significant decline from a net inflow of CNY 101,008,562.87 in the same quarter last year[27] - Operating cash flow for the first quarter was CNY 58,944,666.14, an increase of 54.4% compared to CNY 38,221,038.29 in the previous year[30] - The company reported a total cash inflow from operating activities of CNY 93,830,835.99, slightly up from CNY 92,176,595.18 year-over-year[30] - Cash outflows for operating activities decreased significantly to CNY 34,886,169.85 from CNY 53,955,556.89 in the previous year, indicating improved cost management[30] Assets and Liabilities - Total assets increased by 4.05% to CNY 4,914,327,935.50 compared to the end of the previous year[6] - Total current assets increased to CNY 2,069,385,547.32 from CNY 1,890,961,937.17, representing a growth of approximately 9.45%[17] - Cash and cash equivalents rose to CNY 431,754,374.99, up from CNY 377,711,270.39, an increase of about 14.29%[17] - Accounts receivable decreased to CNY 5,512,927.93 from CNY 6,952,215.79, a decline of approximately 20.66%[17] - Inventory increased to CNY 1,426,031,442.15 from CNY 1,344,983,203.82, reflecting a growth of about 6.02%[17] - Total non-current assets rose to CNY 2,844,942,388.18 from CNY 2,832,154,003.88, a slight increase of approximately 0.44%[18] - Total current liabilities increased to CNY 1,154,879,093.07 from CNY 1,062,182,799.60, a rise of approximately 8.69%[18] - Total liabilities amounted to CNY 1,205,422,738.64, up from CNY 1,087,726,445.17, reflecting an increase of about 10.82%[19] - Total equity attributable to shareholders increased to CNY 3,669,044,007.45 from CNY 3,594,994,269.05, a growth of approximately 2.06%[19] Shareholder Information - The total number of shareholders reached 73,870 at the end of the reporting period[10] - The largest shareholder, Heilongjiang Highway Group, holds 52.17% of the shares[10] Investment and Expenses - Investment income rose by 46.58% to ¥30,755,760.68, driven by cash dividends received from affiliated companies[13] - Sales expenses dropped by 54.06% to ¥1,209,187.85, primarily due to reduced sales costs at the subsidiary Xintong Real Estate[13] - Tax expenses paid rose by 45.75% to ¥22,005,620.17, reflecting higher tax liabilities[14] - Management expenses decreased to CNY 12,793,715.70 from CNY 13,352,828.53, indicating a reduction of 4.19%[23] - The company invested CNY 7,717,307.00 in fixed assets during the quarter, compared to CNY 2,968,030.63 in the same period last year[30] Company Strategy and Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company has committed to reducing related party transactions and ensuring compliance with relevant laws and regulations[15] - The company anticipates no significant changes in cumulative net profit compared to the previous year[16] - The company's cash flow management appears strong with a significant increase in cash reserves, indicating potential for future investments and growth strategies[17]