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].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 5,279,474,277, representing a year-on-year increase of 29.03%[3] - The net profit attributable to shareholders of the listed company for Q3 2021 was a loss of CNY 260,456,104, with a year-to-date loss of CNY 255,283,646[3] - The basic and diluted earnings per share for Q3 2021 were both CNY (0.037)[3] - Total operating revenue for the first three quarters of 2021 reached RMB 14,947,451,817, an increase from RMB 11,548,681,016 in the same period of 2020, representing a growth of approximately 29.5%[15] - The net profit for the first three quarters of 2021 was a loss of RMB 256,120,876, an improvement from a loss of RMB 1,115,879,796 in the same period of 2020[15] - The company experienced an increase in operating revenue and net profit due to a greater growth rate in revenue compared to operating costs during the reporting period[7] Assets and Liabilities - The total assets at the end of Q3 2021 were CNY 37,467,765,557, an increase of 1.87% compared to the end of the previous year[3] - The total liabilities increased to RMB 9,489,170,617 as of September 30, 2021, from RMB 8,624,281,337 at the end of 2020, indicating a rise of approximately 10.0%[13] - The total equity attributable to shareholders of the parent company was RMB 28,016,100,897 as of September 30, 2021, down from RMB 28,192,839,252 at the end of 2020[14] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 301,893,875, reflecting a decrease of 71.60% compared to the same period last year[3] - In the first three quarters of 2021, the cash inflow from operating activities was CNY 11,967,998,414, an increase of 31.0% compared to CNY 9,092,577,397 in the same period of 2020[17] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 301,893,875, a decrease of 71.6% from CNY 1,063,060,722 in 2020[17] - The cash inflow from sales of goods and services in the first three quarters of 2021 was CNY 11,854,204,007, representing a significant increase from CNY 8,893,639,316 in 2020[17] - The cash and cash equivalents at the end of Q3 2021 amounted to CNY 1,690,410,316, compared to CNY 1,504,928,013 at the end of Q3 2020, reflecting a year-over-year increase of 12.3%[18] Shareholder Information - The company reported a total of 193,859 common shareholders at the end of the reporting period[8] - The largest shareholder, China Railway Guangzhou Group Co., Ltd., held 2,629,451,300 shares, accounting for 37.12% of the total shares[8] Operating Costs - Total operating costs for the first three quarters of 2021 were RMB 15,318,144,339, compared to RMB 12,985,021,964 in 2020, reflecting an increase of about 18.0%[15] - The company’s financial expenses for the first three quarters of 2021 were RMB 29,986,913, an increase from RMB 22,205,283 in the same period of 2020[15] Non-Operating Income - Non-operating income for Q3 2021 included government subsidies amounting to CNY 2,650,248[4] Cash Flow from Investment Activities - The cash inflow from investment activities in the first three quarters of 2021 was CNY 103,608,567, down 26.0% from CNY 139,869,324 in 2020[17] - The net cash flow from investment activities was (CNY 316,715,602) in 2021, an improvement from (CNY 808,838,610) in 2020[17] Dividends and Financing Activities - The company did not distribute dividends or pay interest in the first three quarters of 2021, contrasting with CNY 266,065,203 in the same period of 2020[18] - The total cash outflow from financing activities was CNY 311,627,703 in 2020, with no cash outflow reported in 2021[18]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15% compared to the same period in 2020[5]. - The net profit attributable to shareholders for the first half of 2021 was RMB 300 million, up 20% from RMB 250 million in the same period last year[5]. - The company's operating revenue for the first half of 2021 was RMB 9.67 billion, an increase of 29.65% compared to RMB 7.46 billion in the same period last year[14]. - The net profit attributable to shareholders was RMB 4.28 million, a turnaround from a loss of RMB 613.98 million in the previous year[14]. - Passenger transport revenue reached RMB 2.94 billion, a year-on-year increase of 70.13%[24]. - The company reported a net cash flow from operating activities of RMB 310.65 million, a decrease of 40.93% from RMB 525.86 million in the previous year[14]. - The company's total assets at the end of the reporting period were RMB 36.68 billion, a slight decrease of 0.27% from RMB 36.78 billion at the end of the previous year[14]. - The weighted average return on net assets was 0.02%, recovering from a negative 2.13% in the previous year[15]. - The company reported a total profit of CNY 31,804,000 for the first half of 2021, compared to a total loss of CNY 785,720,290 in the first half of 2020[88]. - Cash flow from operating activities for the first half of 2021 was CNY 310,646,836, down from CNY 525,857,963 in the same period of 2020[92]. Passenger and Freight Operations - Passenger traffic volume increased by 10% year-on-year, reaching 15 million passengers in the first half of 2021[5]. - The total number of passengers sent was 21,287,807, representing a 19.10% increase compared to 17,873,745 in the previous year[24]. - Freight revenue increased to RMB 996.94 million, a 35.47% year-over-year growth, with freight volume reaching 9,195,730 tons, up 31.76%[25]. - The company aims to strengthen its freight transport organization and implement strategies to increase freight volume, responding to a significant rise in freight transport demand[23]. Operational Strategies and Future Plans - 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]. - New technology initiatives include the implementation of a smart ticketing system expected to reduce operational costs by 8%[5]. - The company aims to achieve its annual operational goals by focusing on pandemic prevention, transportation safety, and effective management strategies in the second half of 2021[35]. - The company plans to implement a "cargo supplementing passenger" strategy to increase transportation product supply and meet the growing demand from freight owners[35]. Financial Management and Governance - The company has no plans for profit distribution or capital reserve transfer to share capital for the reporting period[2]. - The board of directors confirmed that all members attended the meeting to review the half-year report, ensuring accountability for its accuracy[2]. - The financial report for the first half of 2021 was prepared in accordance with Chinese accounting standards and remains unaudited[2]. - The company has established a financial risk management program to minimize potential adverse effects from various financial risks[38]. - The company has complied with the corporate governance code, except for the establishment of a nomination committee, which is currently not in place[47]. Employee and Training Information - The company reported a total employee count of 40,543, a decrease of 743 from the previous year due to natural attrition from retirements[59]. - The total salary and welfare expenses paid to employees during the reporting period amounted to approximately RMB 3.711 billion[60]. - A total of 454,494 person-times participated in various vocational training, completing 50% of the annual training plan, with training expenses around RMB 9.6859 million[61]. Risk Management and Compliance - The company has identified potential risks related to market competition and regulatory changes in its future outlook[4]. - The company is exposed to foreign exchange risks primarily related to USD and HKD, but it does not use financial instruments to hedge these risks[41]. - The company emphasizes the importance of transportation safety and has measures in place to monitor and improve safety standards[36]. - The company will closely monitor macroeconomic conditions and adjust its development strategy accordingly to mitigate potential impacts on its operations[36]. Shareholder Information - The total number of ordinary shareholders reached 198,641 by the end of the reporting period[71]. - The largest shareholder, China Railway Guangzhou Bureau Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of the total shares[72]. - The company has not repurchased, sold, or redeemed any of its listed shares during the reporting period, maintaining its current capital structure[81]. - The public float of the company meets regulatory requirements for maintaining sufficient public shareholding[81]. Asset and Liability Management - The company's asset-liability ratio is reported at 23.23%, indicating a stable financial position with no borrowings or asset pledges as of the reporting period[39]. - The company’s current liabilities exceeded current assets by 176,356,220 RMB as of June 30, 2021[102]. - The total financial liabilities and lease liabilities as of June 30, 2021, amounted to CNY 12,336,844,706, with CNY 6,443,549,706 due within one year[159]. Investments and Capital Expenditures - Significant investments included RMB 72.65 million for automatic block and computer interlocking renovations on the Guangzhou to Pingshi section of the Jingguang Line, with a project completion rate of 74%[32]. - The company has no significant investments or acquisitions during the reporting period and does not have plans for major investments or capital asset purchases[40]. - The total amount for the other projects category is CNY 370,583,294, with a balance of CNY 355,127,418 after adjustments[198]. Accounting and Financial Reporting - The company’s financial statements comply with the requirements of the accounting standards, reflecting a true and complete picture of its financial status[103]. - Cash and cash equivalents include cash on hand, deposits available for payment, and short-term, highly liquid investments[108]. - The group recognizes expected credit losses for financial assets measured at amortized cost based on reasonable and supportable information[111].

Financial Performance - Operating revenue for the first quarter was CNY 4.41 billion, representing a year-on-year increase of 17.15%[4] - Net profit attributable to shareholders was a loss of CNY 93.37 million, an improvement from a loss of CNY 462.07 million in the same period last year[4] - The company's net profit margin for Q1 2021 was impacted by increased operating costs, with a net loss reported[15] - Net profit for Q1 2021 was a loss of CNY 93,064,495, compared to a loss of CNY 461,261,102 in Q1 2020, showing a significant reduction in losses[16] - Total comprehensive income for Q1 2021 was a loss of CNY 93,064,495, compared to a loss of CNY 461,261,102 in Q1 2020[18] Cash Flow - Net cash flow from operating activities was a negative CNY 328.59 million, a decrease of 183.71% compared to the previous year[4] - Cash flow from operating activities for Q1 2021 was a net outflow of CNY 328,591,924, compared to an inflow of CNY 392,515,633 in Q1 2020[19] - Cash flow from investing activities showed a net outflow of CNY (103,615,679), an improvement from CNY (352,228,216) in Q1 2020[20] - Cash flow from financing activities recorded an inflow of CNY 844,949,826, with no inflow reported in Q1 2020[20] - The net decrease in cash and cash equivalents for Q1 2021 was CNY (354,123,728), compared to an increase of CNY 40,288,735 in Q1 2020[20] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 36.87 billion, an increase of 0.24% compared to the end of the previous year[4] - Total liabilities increased to RMB 8,778,961,551 from RMB 8,624,281,337, marking a rise of 1.8%[12] - The total non-current assets decreased to RMB 30,179,426,733 from RMB 30,521,615,149, a decline of 1.1%[11] - The company's cash and cash equivalents decreased to RMB 1,191,078,086 from RMB 1,545,232,043, a decline of 22.9%[11] - Accounts receivable increased to RMB 4,491,509,847 from RMB 3,721,676,955, representing a growth of 20.7%[11] Shareholder Information - The number of shareholders at the end of the reporting period was 202,110[6] - The largest shareholder, China Railway Guangzhou Group Co., Ltd., held 2.63 billion shares, accounting for 37.12% of total shares[7] Operational Strategy - The company plans to continue improving operational efficiency and expanding its market presence in response to the recovery in passenger and freight volumes[9] - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters[15] Credit and Impairment - The company reported a credit impairment loss of CNY 42.50 million, reflecting a 100% increase due to recalculating the expected credit loss rate[9] - The company incurred credit impairment losses of CNY 42,504,173 in Q1 2021, with no such losses reported in Q1 2020[17] Operating Costs - Total operating costs for Q1 2021 were RMB 4,577,882,895, up from RMB 4,239,712,129 in Q1 2020, reflecting a rise of 8%[15] - Total cash outflow for operating activities was CNY 4,289,852,300, significantly higher than CNY 2,358,587,152 in Q1 2020, indicating increased operational costs[20] Other Financial Metrics - The weighted average return on equity was -0.33%, down from -1.60% in the previous year[4] - The company reported an operating profit loss of CNY 135,436,504 for Q1 2021, compared to a loss of CNY 441,249,093 in Q1 2020[17] - Interest expenses for Q1 2021 were CNY 16,875,271, an increase from CNY 14,411,213 in Q1 2020[17] - The company reported a decrease in management expenses to CNY 53,094,863 in Q1 2021 from CNY 68,618,356 in Q1 2020[17] - The total investment income for Q1 2021 was a loss of CNY 565,696, compared to a profit of CNY 1,730,891 in Q1 2020[16] Cash Inflows and Outflows - Total cash inflow from sales and services was CNY 3,146,238,980, compared to CNY 2,682,817,984 in the previous year, marking a growth of 17.3%[20] - Cash received from other operating activities was CNY 48,155,445, down from CNY 68,286,119 in Q1 2020, reflecting a decrease of 29.4%[20]