Financial Performance - Operating revenue for Q3 2023 reached CNY 6,798,213,684, an increase of 18.24% compared to CNY 5,749,460,150 in the same period last year[3] - Net profit attributable to shareholders for Q3 2023 was CNY 341,462,460, a significant recovery from a loss of CNY 228,625,816 in the previous year[3] - The net profit after deducting non-recurring gains and losses for Q3 2023 was CNY 336,941,862, compared to a loss of CNY 241,776,625 in the same period last year[3] - Basic and diluted earnings per share for Q3 2023 were both CNY 0.048, recovering from a loss of CNY 0.032 in the same period last year[3] - Total operating revenue for the first three quarters of 2023 reached RMB 19.18 billion, a 25.5% increase from RMB 15.24 billion in the same period of 2022[13] - Net profit for the first three quarters of 2023 was RMB 1.02 billion, compared to a net loss of RMB 993.05 million in the first three quarters of 2022[14] - Operating profit for the first three quarters of 2023 was RMB 1.42 billion, a significant recovery from an operating loss of RMB 1.27 billion in the same period of 2022[13] - The company reported a total profit of RMB 1.41 billion for the first three quarters of 2023, recovering from a total loss of RMB 1.28 billion in the same period of 2022[13] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period (January to September 2023) was CNY 831,218,939, compared to a loss of CNY 787,130,169 in the same period last year[3] - Cash flow from operating activities generated RMB 831.22 million in the first three quarters of 2023, compared to a negative cash flow of RMB 787.13 million in the same period of 2022[15] - Cash and cash equivalents at the end of Q3 2023 totaled RMB 1.49 billion, down from RMB 1.72 billion at the end of Q3 2022[16] - The company's cash and cash equivalents stood at RMB 1,428,856,843, up from RMB 1,299,635,304 at the end of 2022[10] - Current assets increased to RMB 8,195,757,672 from RMB 6,969,323,012 year-over-year, primarily driven by an increase in accounts receivable, which rose to RMB 6,051,090,252 from RMB 4,656,294,455[11] Equity and Liabilities - The equity attributable to shareholders at the end of Q3 2023 was CNY 26,372,616,997, reflecting an increase of 4.28% from CNY 25,289,695,971 at the end of the previous year[3] - Total liabilities decreased to RMB 10,622,412,860 from RMB 11,788,174,887, indicating improved financial stability[11] - The equity attributable to shareholders increased to RMB 26,372,616,997 from RMB 25,289,695,971, reflecting a growth in retained earnings[12] - The company reported a significant increase in undistributed profits, which rose to RMB 4,331,394,679 from RMB 3,312,434,993[12] - Short-term borrowings remained stable at RMB 700,355,000 compared to RMB 700,530,444 in the previous year[11] - The company’s long-term borrowings increased slightly to RMB 785,000,000 from RMB 775,000,000, indicating ongoing investment in long-term projects[11] Government Subsidies and Shareholders - Government subsidies recognized in Q3 2023 amounted to CNY 27,681,601, down from CNY 43,549,137 in the previous year[4] - The total number of ordinary shareholders at the end of the reporting period was 180,898[7] Operating Costs and Financial Expenses - Total operating costs for the first three quarters of 2023 were RMB 17.84 billion, an increase from RMB 16.62 billion in the same period of 2022[13] - Financial expenses increased to RMB 35.87 million in the first three quarters of 2023, compared to RMB 33.82 million in the same period of 2022[13] Asset Changes - Total assets at the end of Q3 2023 were CNY 36,959,071,904, a slight decrease of 0.22% from CNY 37,041,375,827 at the end of the previous year[3] - The total non-current assets decreased to RMB 28,763,314,232 from RMB 30,072,052,815, primarily due to a reduction in fixed assets[11]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2023, representing a year-on-year increase of 15% compared to RMB 1.04 billion in the same period of 2022[5]. - The net profit attributable to shareholders for the first half of 2023 was RMB 300 million, up 20% from RMB 250 million in the first half of 2022[5]. - The company's operating revenue for the first half of 2023 was RMB 12.38 billion, an increase of 30.44% compared to RMB 9.49 billion in the same period last year[21]. - The net profit attributable to shareholders was RMB 677.5 million, a turnaround from a net loss of RMB 765.3 million in the previous year[21]. - The net cash flow from operating activities was RMB 811.2 million, compared to a negative cash flow of RMB 695.5 million in the same period last year[22]. - Passenger revenue reached RMB 5.32 billion, a year-on-year increase of 70.06%, with total passenger volume rising to 26.41 million, up 99.18%[24]. - The average return on equity increased to 2.64%, up 5.49 percentage points from the previous year[17]. - The company reported a significant increase in passenger kilometers to 7.57 billion, a growth of 76.67% compared to the previous year[24]. - The operating cost for the first half of 2023 was RMB 11.38 billion, an increase of 9.29% from RMB 10.41 billion in the same period last year[22]. - The company recorded a total asset value of RMB 36.86 billion, a slight decrease of 0.48% from the previous year[7]. - The company received government subsidies amounting to RMB 15.87 million, contributing positively to its financial performance[18]. - Freight revenue increased to RMB 930.40 million, a year-on-year growth of 12.06%[25]. - Freight volume reached 8,047,438 tons, representing a 2.80% increase compared to the previous year[25]. - Revenue from network clearing and other transportation services was RMB 549.72 million, up 7.86% year-on-year[26]. Operational Developments - Passenger traffic volume increased by 10% year-on-year, reaching 15 million passengers in the first half of 2023[5]. - The company plans to expand its service routes by 5% in the next fiscal year, focusing on enhancing connectivity in the Guangdong-Hong Kong-Macau Greater Bay Area[5]. - Investment in new technology and infrastructure upgrades is projected to be RMB 500 million over the next two years to improve operational efficiency[5]. - The company plans to enhance market promotion and passenger marketing to optimize transportation organization and accelerate the recovery of passenger transport services[35]. - The company aims to implement supply-side structural reforms in railway transportation, adapting to market needs and innovating "road-rail combined transport" products[35]. Risk Management - The company has outlined potential risks in its future operations, including regulatory changes and market competition[4]. - The company faces macroeconomic risks that could adversely affect its operating performance and financial condition if the economic climate deteriorates[37]. - The company has established a financial risk management program to minimize potential adverse impacts on financial performance from various financial risks[37]. - The group faces various financial risks, including market risk (foreign exchange, interest rate, and other price risks), credit risk, and liquidity risk, and has established risk management policies to mitigate these risks[144]. Corporate Governance - The financial report for the first half of 2023 was prepared in accordance with Chinese accounting standards and remains unaudited[2]. - The board of directors has confirmed that all members attended the meeting to review the half-year report, ensuring accountability for its accuracy[2]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange rules, with no significant deviations reported[47]. - The board consists of nine members, including three independent non-executive directors, ensuring diverse expertise and experience in the railway industry[48]. - The audit committee, composed of three independent non-executive directors, has reviewed the company's financial performance and internal controls for the first half of 2023[49]. - The remuneration committee is responsible for reviewing and recommending the remuneration of directors and supervisors based on market conditions and company performance[50]. - The nomination committee discusses and proposes candidates for directors and senior management positions, ensuring a structured selection process[51]. - The company has adopted strict securities trading rules for its directors and senior management, confirming compliance during the reporting period[52]. Employee and Training - The total number of employees at the end of the reporting period was 39,221, a decrease of 175 from the previous year-end figure of 39,396[60]. - The total salary and benefits paid to employees during the reporting period amounted to approximately RMB 4.405 billion[61]. - A total of 475,037 person-times participated in various vocational training programs, completing 50% of the annual training plan, with training expenses around RMB 11.7361 million[63]. Shareholder Information - The company has consistently prioritized shareholder communication, implementing various channels for effective two-way communication with investors[55]. - Since its listing, the company has distributed approximately RMB 12.3 billion in cash dividends over 24 consecutive years from 1996 to 2019, despite not distributing dividends in 2020, 2021, and 2022 due to external challenges[56]. - The total number of ordinary shareholders as of the end of the reporting period was 166,629[69]. - The largest shareholder, China Railway Guangzhou Bureau Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of the total shares[70]. - The second-largest shareholder, HKSCC Nominees Limited, holds 1,615,610,637 shares, representing 22.81%[70]. Financial Position - The company reported a short-term loan of approximately RMB 700 million with a weighted average annual interest rate of 2.49% and a long-term loan of approximately RMB 795 million with a weighted average annual interest rate of 2.74%[38]. - The company's asset-liability ratio is 29.53%, calculated by dividing the ending balance of liabilities by the ending balance of total assets[38]. - The company has no significant investments or acquisitions during the reporting period and has no plans for major investments or acquisitions[39]. - The company has no contingent liabilities during the reporting period[42]. - The company has completed its internal control self-assessment and audit for 2022, ensuring compliance with regulatory requirements[43]. - The company did not propose any profit distribution or capital reserve conversion plan for the half-year report[46]. Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 1.72 billion, a growth of 32.72% compared to the previous year[31]. - Accounts receivable rose to RMB 5.32 billion, reflecting a 14.32% increase year-on-year due to higher transportation and railway service revenues[31]. - The company reported a significant increase in tax expenses, with a year-on-year growth of 197.37% to RMB 11.24 million, attributed to increased VAT payments[29]. - Investment income increased by 12.66% to RMB 42.80 million, driven by higher returns from long-term equity investments[29]. - The company expects the overall operation of the Chinese economy to maintain a positive development trend in the second half of 2023, with a focus on high-quality development and safety in production[35]. Accounting Policies - The financial statements for the six months ending June 30, 2023, comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[99]. - The accounting year runs from January 1 to December 31, with the reporting currency being Renminbi[100]. - The group applies the purchase method for business combinations, measuring the cost of the combination and identifiable net assets at fair value on the acquisition date[101]. - All significant intercompany balances, transactions, and unrealized profits are eliminated in the preparation of the consolidated financial statements[102]. - The group holds debt instruments measured at amortized cost, primarily including cash, notes receivable, accounts receivable, and other receivables[107]. - The group classifies financial assets based on expected credit loss, with provisions calculated for receivables and contract assets according to their credit risk stages[108]. - The group recognizes expected credit losses for receivables based on historical loss experience and current economic conditions, with provisions reflecting the entire duration of the financial instruments[109]. - Financial liabilities are primarily measured at amortized cost, including notes payable, accounts payable, and borrowings, with initial measurement at fair value less transaction costs[110]. - Inventory is measured at the lower of cost and net realizable value, with costs calculated using the weighted average method[111]. - Long-term equity investments are accounted for using the cost method or equity method, depending on the level of control or significant influence[112]. - The group recognizes investment income from long-term equity investments based on the share of net profit or loss from the investee[113]. - Provisions for impairment of long-term equity investments are recognized when the carrying amount exceeds the recoverable amount[113]. - The group employs a perpetual inventory system for inventory management[112]. Asset Management - The company reported a significant reduction in the carrying value of long-term equity investments when their recoverable amount fell below the book value[114]. - Fixed assets include buildings, tracks, bridges, locomotives, communication systems, and other equipment, with initial measurement based on acquisition cost[114]. - The estimated useful life for buildings ranges from 20 to 40 years, with an annual depreciation rate of 2.40% to 4.80%[116]. - The company capitalizes borrowing costs directly attributable to assets that require a long period for construction, ceasing capitalization once the asset is ready for use[119]. - Intangible assets, including land use rights and software, are amortized over their estimated useful lives, with land use rights amortized over 36.5 to 50 years[120]. - Long-term prepaid expenses are amortized over an estimated benefit period of 4 years[121]. - The company conducts impairment tests on fixed assets, construction in progress, and intangible assets at the balance sheet date[122]. Employee Benefits - Employee compensation includes various forms of remuneration, with short-term compensation recognized as a liability during the accounting period[123]. - The company participates in a defined contribution plan for employee retirement benefits, contributing to basic and supplementary pension insurance[125]. - The company has established policies for the disposal of fixed assets, recognizing gains or losses based on the difference between disposal income and book value[117]. - The company participates in a supplementary pension insurance scheme organized by the Guangxi Railway Group, contributing monthly based on the defined standards[127]. - The company recognizes liabilities for severance benefits when terminating employee contracts or encouraging voluntary layoffs, impacting current profits[128]. - Internal retirement benefits are provided to employees who voluntarily retire before the statutory retirement age, with liabilities recognized similarly to severance benefits[129]. Revenue Recognition - Revenue from railway transportation services is recognized when customers gain control of the related goods or services[131]. - Passenger revenue includes income from intercity trains, long-distance trains, and direct trains to Hong Kong, processed through the national clearing system[132]. - Freight revenue is derived from goods transportation services, with calculations managed by the national clearing system[132]. - Government grants are recognized as deferred income and amortized over the useful life of the related assets[134]. Taxation - The corporate income tax rate applicable is 20% and 25% depending on the taxable income[159]. - The value-added tax rate for passenger and freight income has been reduced to 9% since April 1, 2019, down from 10%[161]. - The company’s subsidiaries benefit from a reduced corporate income tax rate of 20% on the portion of taxable income not exceeding RMB 3 million[160]. - The urban maintenance and construction tax rate applicable to most subsidiaries is 7%[163].

证券代码：601333 证券简称：广深铁路 公告编号：2023-013 广深铁路股份有限公司（以下简称"公司"）将于 2023 年 8 月 30 日发布公司 2023 年半 年度报告，为便于广大投资者更全面深入地了解公司 2023 年半年度经营成果、财务状况， 公司计划于 2023 年 08 月 31 日上午 09:00-10:00 举行 2023 年半年度业绩说明会，就投资者 关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2023 年半年度的经营成果及财务 指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注 的问题进行回答。 二、 说明会召开的时间、地点 三、 参加人员 广深铁路股份有限公司 关于召开 2023 年半年度业绩说明会的公告 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： 投资者可于 2023 年 08 月 24 日(星期四)至 08 月 30 日(星期三)16:00 前登录上证路演中 心网站首页点击"提问预征集"栏目或通过公 ...

Financial Performance - Operating revenue for Q1 2023 reached CNY 6,146,150,946, an increase of 22.96% compared to CNY 4,998,622,697 in the same period last year[3] - Net profit attributable to shareholders was CNY 405,158,992, a significant recovery from a loss of CNY 398,371,025 in the previous year[3] - Basic and diluted earnings per share were both CNY 0.057, recovering from a loss of CNY 0.056 per share in the previous year[3] - Operating profit for Q1 2023 was RMB 561,687,501, a significant turnaround from a loss of RMB 500,826,013 in Q1 2022[13] - Net profit for Q1 2023 amounted to RMB 405,483,117, compared to a net loss of RMB 398,142,815 in the same period last year[13] Cash Flow and Liquidity - Net cash flow from operating activities improved to CNY 101,669,192, compared to a negative cash flow of CNY 202,546,932 in the same period last year[3] - Operating cash inflow for Q1 2023 was CNY 3,778,594,513, an increase of 21.8% compared to CNY 3,100,690,902 in Q1 2022[14] - Cash received from sales of goods and services reached CNY 3,599,606,299, up from CNY 2,916,362,577, reflecting a growth of 23.4% year-over-year[14] - The net increase in cash and cash equivalents for the quarter was CNY 288,380,438, compared to a net decrease of CNY (321,608,581) in Q1 2022[14] - The ending balance of cash and cash equivalents was CNY 1,809,923,877, up from CNY 1,397,853,720 at the end of Q1 2022[14] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 37,214,865,410, a slight increase of 0.47% from CNY 37,041,375,827 at the end of the previous year[3] - Current assets increased to RMB 7,719,579,596 from RMB 6,969,323,012, reflecting a growth of 10.7%[12] - Total liabilities decreased to RMB 11,526,321,618 from RMB 11,788,174,887, indicating a reduction of 2.2%[12] - Cash and cash equivalents rose to RMB 1,746,684,900, up from RMB 1,299,635,304, marking a growth of 34.4%[12] - The company reported a decrease in accounts payable from RMB 5,078,928,112 to RMB 4,556,545,192, a decline of 10.3%[12] Shareholder Information - The company reported a total of 178,149 common shareholders at the end of the reporting period[7] - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of total shares[7] - Shareholders' equity attributable to shareholders increased to CNY 25,724,714,698, up 1.72% from CNY 25,289,695,971 at the end of the previous year[3] Non-Operating Income and Expenses - Non-operating income for the period included CNY 9,405,838 in government subsidies and CNY 4,004,057 in other non-operating income[4] - The company paid CNY 11,444,722 in dividends and interest, a decrease from CNY 15,754,717 in the same quarter last year[14] Future Plans - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[13] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2023[14]

Financial Performance - The company's operating revenue for 2022 was CNY 19,943,429,883, a decrease of 1.30% compared to 2021[18]. - The net profit attributable to shareholders for 2022 was a loss of CNY 1,994,665,063, compared to a loss of CNY 973,119,082 in 2021[18]. - The net cash flow from operating activities for 2022 was a negative CNY 193,449,258, a decrease of 119.30% compared to the previous year[19]. - The total assets at the end of 2022 were CNY 37,041,375,827, a decrease of 0.97% from the end of 2021[19]. - The net assets attributable to shareholders at the end of 2022 were CNY 25,289,695,971, down 7.17% from the end of 2021[19]. - The basic earnings per share for 2022 was a loss of CNY 0.28, compared to a loss of CNY 0.14 in 2021[20]. - The company's operating costs rose to RMB 22.326 billion in 2022, up 5.01% from RMB 21.261 billion in the previous year[31]. - The company recorded a total of RMB 35.402 million in non-recurring gains and losses for 2022, down from RMB 84.555 million in 2021[22]. - The company reported a total revenue of RMB 10.5 billion for the year 2022, representing a year-on-year increase of 8%[81]. - The company reported a net profit of RMB 2.5 billion, reflecting a growth of 5% year-on-year[81]. Audit and Compliance - The company received a standard unqualified audit report from PwC Zhong Tian[2]. - The board of directors and management have confirmed the accuracy and completeness of the financial report[2]. - There are no violations of decision-making procedures regarding external guarantees[4]. - The company has completed the self-evaluation and audit of internal controls for the year 2021[74]. - The company received an unqualified audit opinion on the effectiveness of its internal control system from PwC[116]. - The audit committee consists of three independent non-executive directors, ensuring adequate oversight of the company's financial performance and compliance[137]. Risk Management - The company has detailed potential risks in the annual report, which should be reviewed in the "Board Report" section[5]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[4]. - The company has established a financial risk management program to mitigate risks such as foreign exchange and liquidity risks[56]. - The company is actively monitoring foreign exchange transactions to minimize exposure to currency fluctuations[63]. - The company has a risk management system in place to identify and manage significant risks that could impact strategic objectives[136]. Governance and Management - The board of directors consists of 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors[68]. - The company has established a nomination committee and revised its information disclosure management measures to enhance governance[74]. - The board has established specialized committees, including an audit committee, a remuneration committee, and a nomination committee, to oversee governance functions[121]. - The company emphasizes ongoing training for directors, with specific training sessions attended by executive directors and independent directors during the reporting period[127]. - The company has a robust governance structure with detailed rules outlined in the Articles of Association and Board Meeting Rules[129]. Shareholder Information - The board of directors proposed no profit distribution for the year 2022, considering the company's recent profitability and operational funding needs[3]. - The company has not distributed cash dividends since 2020 due to ongoing operational pressures[26]. - The total number of ordinary shareholders as of the end of the reporting period was 181,259, an increase from 180,900 at the end of the previous month[160]. - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of the total shares[161]. - Public shareholding amounts to 4,454,085,700 shares, representing 62.88% of the total share capital, with a market value of approximately RMB 10.111 billion based on a closing price of RMB 2.27 per share[169]. Operational Highlights - The company operates a railway line of 481.2 kilometers, connecting major regions in Guangdong Province[17]. - In 2022, the company reported a passenger volume of 26.52 million, a decrease of 34.97% year-on-year, and a freight volume of 16.57 million tons, down 12.01% year-on-year[26]. - The company plans to broaden its railway operation service area with the completion of new high-speed and intercity railways in the Guangdong-Hong Kong-Macao Greater Bay Area[17]. - The company plans to achieve a passenger volume of 50.5 million and a cargo volume of 19.2 million tons in 2023[54]. - The company intends to expand its freight services by increasing the frequency of freight trains and promoting intermodal transport solutions[54]. Environmental and Social Responsibility - The company invested RMB 9.37 million in environmental protection during the reporting period[144]. - The company reduced carbon emissions by 54,000 tons through various measures, including prioritizing electric locomotives and promoting energy-saving practices[146]. - The company has committed to environmental responsibilities and has not reported any significant social safety issues during the reporting period[147]. Employee Information - The company had a total of 39,396 employees, with 18,019 in passenger and freight operations, and 5,270 in mechanical operations[103]. - The company has 162 employees with postgraduate degrees and 5,285 with bachelor's degrees, indicating a diverse educational background among staff[103]. - The total salary and benefits paid to employees during the reporting period amounted to approximately RMB 39.4484 million, with 879,062 person-times participating in various vocational training[107]. - The company’s employee compensation policy links total salary to operational efficiency and individual performance, enhancing motivation among employees[105].

证券代码：601333 证券简称：广深铁路 公告编号：2023-002 广深铁路股份有限公司 关于召开 2022 年度业绩说明会的公告 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个别及连带责任。 重要内容提示： 投资者可于 2023 年 3 月 28 日(星期二)至 4 月 3 日(星期一)16:00 前登录上证路演中心 网站首页点击"提问预征集"栏目或通过公司邮箱 ir@gstlgs.com 进行提问。公司将在说明 会上对投资者普遍关注的问题进行回答。 广深铁路股份有限公司（以下简称"公司"）将于 2023 年 3 月 30 日发布公司 2022 年度 报告，为便于广大投资者更全面深入地了解公司 2022 年度经营成果、财务状况，公司计划 于 2023 年 4 月 4 日上午 09:00-10:00 举行 2022 年度业绩说明会，就投资者关心的问题进行 交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度的经营成果及财务指标 的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普 ...

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 9.49 billion, a decrease of 1.83% compared to RMB 9.67 billion in the same period last year [23]. - The net loss attributable to shareholders was RMB 765.32 million, a significant decline from a net profit of RMB 4.28 million in the previous year, representing a change of 18,000.12% [18]. - The company's operating costs increased by 8.90% to RMB 10.41 billion, compared to RMB 9.56 billion in the same period last year [24]. - The net cash flow from operating activities was RMB (695.49) million, a decrease of 323.88% from RMB 310.65 million in the previous year [24]. - The total assets at the end of the reporting period were RMB 37.05 billion, a decrease of 0.94% from RMB 37.40 billion at the end of the previous year [18]. - The net assets attributable to shareholders decreased by 2.56% to RMB 26.54 billion from RMB 27.24 billion at the end of the previous year [18]. - The basic earnings per share were RMB (0.1080), a decline of 18,100.00% compared to RMB 0.0006 in the previous year [19]. - The company reported a significant increase in other income, which rose by 273.89% to RMB 30.43 million from RMB 8.14 million in the previous year [24]. Operational Metrics - The company experienced a 42.34% decrease in passenger volume, with 787 million passengers transported in the first half of 2022 [21]. - Passenger revenue for the first half of 2022 was RMB 312,831 million, an increase of 6.37% compared to RMB 294,094 million in the same period last year [26]. - The number of passengers sent decreased by 37.72% to 13,258,856 from 21,287,807 due to strict pandemic control measures [26]. - Freight revenue decreased by 16.72% to RMB 83,024 million from RMB 99,694 million, with freight volume down by 14.87% to 7,828,336 tons [27]. - Revenue from network clearing and other transportation services was RMB 509,641 million, a decrease of 2.98% compared to RMB 525,304 million last year [28]. - Other business income fell by 8.54% to RMB 436 million from RMB 477 million, primarily due to reduced workload from the pandemic [29]. Corporate Governance and Compliance - The company has established a nomination committee to optimize the structure of the board of directors and improve corporate governance, which was approved at the annual general meeting on June 16, 2022 [49]. - The audit committee, composed of three independent non-executive directors, is responsible for reviewing the financial performance of the company and ensuring compliance with regulations [47]. - The company has adopted the corporate governance code and has complied with the relevant rules and regulations during the reporting period [49]. - The company has a comprehensive information disclosure policy to ensure transparency and timely communication with investors and regulatory bodies [53]. - The company has confirmed that all directors, supervisors, and senior management complied with the securities trading rules during the reporting period [51]. Risk Management - The company has detailed the potential risks it may face in the future within the "Board Report (including Management Discussion and Analysis)" section [6]. - The company is facing macroeconomic risks that could adversely affect its operating performance and financial condition [38]. - The company has established a financial risk management program to minimize potential adverse impacts from various financial risks [39]. - The company has set aside provisions for bad debts based on assessments of expected credit losses, ensuring that the current accounts receivable balance does not pose significant credit risk [157]. Employee and Training Information - The total number of employees at the end of the reporting period was 39,637, a decrease of 979 from the previous year due to natural attrition from retirements [59]. - The total salary and benefits paid to employees during the reporting period amounted to approximately RMB 3.255 billion [60]. - A total of 508,290 person-times participated in various vocational training, completing 50% of the annual training plan, with training expenses around RMB 8.3274 million [62]. - The training expenditure for the reporting period was approximately RMB 8.3274 million, reflecting the company's commitment to employee development [62]. Shareholder Information - The total number of ordinary shareholders reached 186,771 by the end of the reporting period [70]. - The largest shareholder, China Railway Guangzhou Bureau Group Co., Ltd., holds 37.12% of the issued shares, totaling 2,629,451,300 shares [71]. - HKSCC NOMINEES LIMITED holds 1,417,238,299 shares, representing a significant portion of foreign investment in the company [72]. - The company has no significant litigation or arbitration matters during the reporting period [66]. - The company has not engaged in any significant related party transactions during the reporting period [67]. Financial Position and Assets - Cash and cash equivalents decreased by 30.78% to RMB 1,079,418,656 from RMB 1,559,462,301 due to reduced bank deposits [33]. - Long-term borrowings increased to RMB 500,000,000, marking a 100% increase as the company secured bank credit loans [33]. - The company's asset-liability ratio was 28.46% at the end of the reporting period [40]. - The total balance of accounts receivable from land reserve payments is CNY 128,902,764, accounting for 37% of other receivables [182]. - The total fixed assets as of June 30, 2022, amounted to approximately CNY 40.73 billion, with a net increase of CNY 886.76 million during the period [193]. Future Plans and Strategies - The company is focused on expanding its railway operations and improving service efficiency to adapt to the evolving transportation needs in China [22]. - The company plans to adapt to market needs by increasing railway freight volume and innovating "road-rail combined transport" products [37]. - The company plans to enhance its market expansion strategies and invest in new technologies to improve future performance [93]. - The company is focusing on optimizing its operational efficiency to recover from the current cash flow challenges [94].

Financial Performance - The company's operating revenue for 2021 was CNY 20,206,156,783, representing a 23.59% increase compared to CNY 16,349,365,706 in 2020[18]. - The net profit attributable to shareholders for 2021 was a loss of CNY 973,119,082, which is a 74.43% increase in loss compared to a loss of CNY 557,875,873 in 2020[18]. - The net cash flow from operating activities for 2021 was CNY 1,002,468,547, down 24.97% from CNY 1,336,173,449 in 2020[19]. - The total assets at the end of 2021 were CNY 37,403,422,526, an increase of 1.69% from CNY 36,780,451,862 at the end of 2020[19]. - The basic earnings per share for 2021 was (CNY 0.14), a 75.00% increase in loss compared to (CNY 0.08) in 2020[20]. - The company reported a decrease in net assets attributable to shareholders, which was CNY 27,241,949,775 at the end of 2021, down 3.37% from CNY 28,192,839,252 at the end of 2020[19]. - The company reported a significant increase in operating costs, which rose by 18.92% to RMB 21.261 billion, compared to RMB 17.878 billion in the previous year[31]. - The company reported a significant increase in credit impairment losses, totaling RMB 40,612,916, compared to RMB 358,384 in 2020[190]. - The total operating costs increased to RMB 21,614,986,429, up 18.5% from RMB 18,212,838,473 in the previous year[190]. - The company reported a total revenue of CNY 16,510,960,708 from sales, up from CNY 13,273,524,914 in 2020, reflecting a growth of 24.5%[195]. Corporate Governance - The board of directors proposed not to distribute profits for the year 2021, nor to increase capital reserves by issuing new shares[3]. - The company has continuously improved its corporate governance structure since its listing in 1996, ensuring compliance with regulatory requirements[73]. - The board of directors consists of 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors[72]. - The company has established specialized committees, including an audit committee and a compensation committee, to oversee critical governance functions[100]. - The independent directors have expressed their independent opinions on various matters, including the fairness of a capital increase plan and the profit distribution proposal for 2020, ensuring compliance with regulations and protection of minority shareholders' interests[98]. - The company has a structured approach to its audit process, with recommendations made to ensure timely completion and quality of the annual report audit[101]. - The company has established a board diversity policy, considering various factors such as gender, cultural background, and professional experience in selecting board members[121]. - The company has not faced any administrative penalties due to environmental issues during the reporting period, indicating compliance with environmental regulations[140]. Risk Management - The company has detailed potential risks in the "Board Report" section of the annual report[5]. - The company faces risks related to macroeconomic conditions, regulatory changes, and market competition, which may impact its performance[53]. - The company has implemented a robust internal control and risk management framework to ensure accurate financial reporting and compliance with regulations[137]. - The company has actively trained employees on risk management and internal control systems to enhance overall awareness and compliance[138]. - The company has a comprehensive internal control system that includes risk management measures across various operational aspects since 2006, in compliance with international standards and regulations[138]. Future Plans and Strategies - The company plans to expand its railway operation services, which have become a new growth point since 2009, as more high-speed railways are completed in the Guangdong-Hong Kong-Macao Greater Bay Area[17]. - The company plans to focus on high-quality development and enhance service capabilities while navigating the uncertainties in the economic environment for 2022[26]. - The company aims to enhance service quality and innovate management and technology to become a leading railway transport service provider[51]. - The company plans to achieve a passenger volume of 51 million and a cargo volume of 21.15 million tons in 2022[52]. - The company intends to implement structural reforms in freight transport, increasing the frequency of domestic and international freight trains[52]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 2 billion RMB earmarked for potential deals[80]. - The company plans to expand its service network by adding 200 kilometers of new railway lines in the next fiscal year[83]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 193,087[160]. - Public shareholding amounts to 4,454,085,700 shares, which is 62.88% of the total share capital, with a market value of approximately RMB 9.977 billion based on a closing price of RMB 2.24 per A share[168]. - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of total shares[161]. - HKSCC NOMINEES LIMITED holds 1,467,668,629 shares, representing 20.72% of total shares, with 50,612,330 A shares and 1,417,056,299 H shares[161]. Audit and Compliance - The company reported a standard unqualified audit opinion from PwC Zhongtian[2]. - The financial statements have been audited and fairly reflect the company's financial position as of December 31, 2021[174]. - The audit committee held six meetings during the reporting period, with all members achieving a 100% attendance rate[126]. - The company has maintained a continuous service of 14 years for domestic auditors and 19 years for international auditors, complying with regulatory requirements for auditor rotation[129]. - The company has not made any changes to accounting policies or estimates, nor has it corrected any significant accounting errors during the reporting period[152]. Employee and Compensation Information - The total pre-tax compensation for the executives during the reporting period amounted to 414.80 million yuan[79]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to RMB 4.148 million[89]. - The company has a total of 161 employees with a postgraduate degree and 5,192 with a bachelor's degree, indicating a diverse educational background among its workforce[104]. - The company's compensation policy links employee salaries closely to economic performance and individual performance, with total salary and benefits paid to employees detailed in the financial statements[105].