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 - Operating revenue for Q3 2022 was CNY 5,749,460,150, an increase of 8.90% year-on-year[3] - Net profit attributable to shareholders was a loss of CNY 228,625,816, with a year-to-date loss of CNY 993,950,400[3] - The basic earnings per share for Q3 2022 was a loss of CNY 0.032, with a year-to-date loss of CNY 0.140[3] - Total operating revenue for the first three quarters of 2022 reached CNY 15,240,732,548, an increase from CNY 14,947,451,817 in the same period of 2021, representing a growth of approximately 1.95%[12] - The net profit for the first three quarters of 2022 was a loss of CNY 993,047,548, compared to a loss of CNY 256,120,876 in the same period of 2021, reflecting a significant decline in profitability[12] - The company reported a basic and diluted earnings per share of CNY (0.140) for the first three quarters of 2022, compared to CNY (0.036) in the same period of 2021[13] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was a negative CNY 787,130,169, a decrease of 360.73% compared to the previous year[3] - In the first three quarters of 2022, the cash inflow from operating activities was CNY 8,494,667,443, a decrease of 29.5% compared to CNY 11,967,998,414 in the same period of 2021[14] - The net cash flow from operating activities for the first three quarters of 2022 was a loss of CNY 787,130,169, compared to a gain of CNY 301,893,875 in the same period of 2021[14] - The cash outflow for purchasing goods and services in the first three quarters of 2022 was CNY 3,747,014,308, down 29% from CNY 5,260,908,117 in 2021[14] - The ending balance of cash and cash equivalents as of the end of Q3 2022 was CNY 1,183,200,806, down from CNY 1,690,410,316 at the end of Q3 2021[15] - The company reported a cash and cash equivalents net decrease of CNY 536,261,495 in the first three quarters of 2022, compared to a decrease of CNY 14,821,727 in the same period of 2021[14] Assets and Liabilities - Total assets at the end of the reporting period were CNY 37,402,213,026, showing a slight decrease from the previous year[3] - The total assets as of September 30, 2022, amounted to CNY 37,402,213,026, slightly down from CNY 37,403,422,526 at the end of 2021[11] - Current assets totaled CNY 7,149,516,336 as of September 30, 2022, compared to CNY 6,735,513,535 at the end of 2021, marking an increase of approximately 6.15%[10] - The total liabilities increased to CNY 11,106,088,580 as of September 30, 2022, from CNY 10,198,985,923 at the end of 2021, representing a rise of about 8.88%[10] - The total equity attributable to shareholders of the parent company was CNY 26,332,734,766 as of September 30, 2022, down from CNY 27,241,949,775 at the end of 2021[11] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 188,023[7] - The largest shareholder, China Railway Guangzhou Group Co., Ltd., held 37.12% of the shares[7] Non-Operating Income - Non-operating income for the reporting period included government subsidies amounting to CNY 8,901,591[4] Impact of COVID-19 - The company experienced a decline in passenger and freight volumes due to the ongoing impact of the COVID-19 pandemic[6] Borrowings - The company’s long-term borrowings amounted to CNY 700,000,000 as of September 30, 2022, indicating a new debt issuance compared to no long-term borrowings at the end of 2021[10]

Financial Performance - Operating revenue for the third quarter was CNY 5,749,460,150, an increase of 8.90% compared to the same period last year[2] - Net profit attributable to shareholders was CNY (228,625,816), with a year-to-date loss of CNY (993,950,400)[2] - Basic and diluted earnings per share for the quarter were both CNY (0.032)[2] - Total operating revenue for the first three quarters of 2022 was CNY 15,240,732,548, an increase of 1.95% compared to CNY 14,947,451,817 in the same period of 2021[14] - Total operating costs rose to CNY 16,617,492,507, up 8.47% from CNY 15,318,144,339 year-over-year[14] - Net profit for the first three quarters of 2022 was a loss of CNY 993,047,548, compared to a loss of CNY 256,120,876 in the same period of 2021[15] - The total profit for the first three quarters of 2022 was a loss of CNY 1,275,533,044, compared to a loss of CNY 332,242,895 in the same period of 2021[15] - Basic earnings per share for the first three quarters of 2022 was a loss of CNY 0.140, compared to a loss of CNY 0.036 in the same period of 2021[15] Assets and Liabilities - Total assets at the end of the reporting period were CNY 37,402,213,026, showing a slight decrease from the previous year's total assets of CNY 37,403,422,526[3] - Total liabilities as of September 30, 2022, were RMB 11,106,088,580, compared to RMB 10,198,985,923 at the end of 2021, marking an increase of about 8.9%[12] - The company's total equity decreased to RMB 26,296,124,446 from RMB 27,204,436,603, a decline of approximately 3.3%[13] - Shareholders' equity attributable to the parent company decreased by 3.34% to CNY 26,332,734,766 compared to the previous year[3] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY (787,130,169), reflecting a significant decline of 360.73%[2] - Cash flow from operating activities showed a net outflow of CNY 787,130,169, a significant decline from a net inflow of CNY 301,893,875 in the previous year[16] - Cash flow from investing activities resulted in a net outflow of CNY 442,787,576, compared to a net outflow of CNY 316,715,602 in the same period of 2021[17] - Cash flow from financing activities generated a net inflow of CNY 693,656,250, with CNY 700,000,000 received from borrowings[17] - The cash and cash equivalents at the end of the period were CNY 1,183,200,806, down from CNY 1,690,410,316 at the end of the same period in 2021[17] Operational Metrics - The company experienced a decline in passenger and freight volume due to the ongoing impact of the COVID-19 pandemic, affecting overall revenue[5] - The company reported a weighted average return on equity of (0.87)%, a slight increase of 0.06 percentage points from the previous year[2] - The total number of shareholders at the end of the reporting period was 188,023, with the largest shareholder holding 37.12% of the shares[7] Asset Composition - As of September 30, 2022, total current assets amounted to RMB 7,149,516,336, an increase from RMB 6,735,513,535 as of December 31, 2021, representing a growth of approximately 6.1%[10] - Accounts receivable increased to RMB 5,455,727,416 from RMB 4,396,173,803, reflecting a rise of about 24.1% year-over-year[10] - Total non-current assets decreased to RMB 30,252,696,690 from RMB 30,667,908,991, indicating a decline of approximately 1.4%[11] - Cash and cash equivalents dropped to RMB 961,269,477 from RMB 1,559,462,301, a decrease of about 38.3%[10] - Inventory levels slightly decreased to RMB 261,308,558 from RMB 271,583,112, reflecting a reduction of about 3.8%[10] - The company reported a significant increase in prepayments, rising to RMB 18,981,797 from RMB 3,949,426, an increase of approximately 379.5%[10] - Deferred tax assets increased to RMB 980,541,045 from RMB 698,396,364, representing a growth of about 40.3%[11] - Long-term borrowings were recorded at RMB 700,000,000, a new addition compared to no long-term borrowings reported at the end of 2021[12]

Revenue and Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching RMB 5.2 billion, representing a year-on-year growth of 15%[15]. - Total operating revenue for the first half of 2022 was RMB 9,491,272, a decrease of 1.83% compared to RMB 9,667,978 in the same period last year[23]. - The company reported a comprehensive loss attributable to shareholders of RMB 765,325, compared to a profit of RMB 4,277 in the same period last year, marking a change of 17,993.97%[23]. - Basic earnings per share were negative RMB 0.1080, compared to RMB 0.0006 in the previous year, indicating a decline of 18,100.00%[23]. - The company reported a net loss of RMB 765,325,000 for the six months ended June 30, 2022, compared to a profit of RMB 4,277,000 for the same period in 2021[124]. - The total revenue for the railway transportation business for the six months ended June 30, 2022, was RMB 9,054,956,000, a decrease of 1.5% compared to RMB 9,190,928,000 for the same period in 2021[108]. - The net loss for the railway transportation business was RMB 715,922,000 for the six months ended June 30, 2022, compared to a profit of RMB 37,467,000 in the same period of 2021[109]. Operational Efficiency and Future Outlook - The company has set a future outlook with a revenue growth target of 10-15% for the second half of 2022, driven by increased operational efficiency and market expansion[15]. - The company is actively pursuing market expansion strategies, including the development of new routes and partnerships with local governments to enhance connectivity[15]. - The company expects the Chinese economy to gradually recover in the second half of 2022, which will positively impact railway passenger and freight transport demand[40]. - The company plans to enhance safety measures and improve operational management to adapt to the ongoing pandemic situation[40]. - The company aims to increase railway freight volume through innovative products and policies, including "public-rail intermodal" services[40]. - The company will actively respond to market competition by improving service quality and increasing freight train frequency[42]. Cash Flow and Financial Position - Net cash flow from operating activities was negative RMB 695,486, compared to a positive RMB 310,647 in the same period last year, reflecting a decrease of 323.88%[27]. - Cash and cash equivalents decreased by 28.01% to RMB 1,079,419 million, attributed to a reduction in bank deposits[38]. - The company’s cash flow from financing activities was positive RMB 497,681, a significant improvement from a negative RMB 30,945 in the same period last year[27]. - The company maintains stable cash flow and believes it has sufficient operating capital and credit sources to meet its operational needs[43]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 37,052,788, a decrease of 0.94% from RMB 37,403,422 at the end of the previous year[22]. - Total liabilities increased to RMB 10,545,562 thousand from RMB 10,198,986 thousand, reflecting a rise in current liabilities[86]. - The company’s asset-liability ratio is 28.46%, calculated as the ending balance of liabilities divided by the ending balance of total assets[44]. Employee and Corporate Governance - The company reported a total employee count of 39,637 at the end of the reporting period, a decrease of 979 from the previous year due to natural attrition from retirements[59]. - Total wages and benefits paid to employees amounted to approximately RMB 3.255 billion during the reporting period[60]. - The company has implemented a performance-based compensation policy, linking employee remuneration closely to economic benefits and individual performance[60]. - The company has continuously improved its corporate governance structure since its listing in 1996, ensuring compliance with relevant regulations and enhancing internal management and control systems[47]. - The board of directors consists of nine members, including three independent non-executive directors, ensuring a diverse background and experience in the railway industry[49]. Related Party Transactions - The company confirmed compliance with the Hong Kong Stock Exchange's Listing Rules regarding related party transactions[66]. - The company engaged in related party transactions amounting to RMB 1,829,760,000 for accepting train services[67]. - The company has adhered to the principles of openness, fairness, and justice in related transactions with Guangshen Railway Group[63]. Environmental Responsibility - The company has maintained a commitment to environmental responsibility, with no administrative penalties related to environmental issues reported during the period[58]. - The company’s subsidiary, Guangzhou Locomotive Depot, is listed as a key pollutant discharge unit, adhering to environmental protection regulations and actively disclosing environmental information[58].

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 Q1 2022 was CNY 4,998,622,697, representing a 13.25% increase compared to CNY 4,413,764,612 in the same period last year[3] - The net profit attributable to shareholders of the listed company was a loss of CNY 398,371,025, compared to a loss of CNY 93,372,207 in the previous year, indicating a significant decline in profitability[3] - Total operating revenue for Q1 2022 was RMB 4,998,622,697, an increase of 13.2% compared to RMB 4,413,764,612 in Q1 2021[12] - Net profit for Q1 2022 was a loss of RMB 398,142,815, compared to a loss of RMB 93,064,495 in Q1 2021, indicating a significant decline in profitability[12] Cash Flow - The net cash flow from operating activities was a negative CNY 202,546,932, an improvement from a negative CNY 250,538,278 in the same period last year[3] - In Q1 2022, the total cash inflow from operating activities was CNY 3,100,690,902, a decrease of 6.1% compared to CNY 3,302,670,543 in Q1 2021[13] - The cash flow from investing activities resulted in a net outflow of CNY (103,306,932), slightly better than CNY (103,615,679) in Q1 2021[13] - The total cash outflow from financing activities was CNY 15,754,717, with no cash inflow reported in Q1 2021[13] - The company reported a net decrease in cash and cash equivalents of CNY (321,608,581) in Q1 2022, compared to CNY (354,153,957) in Q1 2021[13] Assets and Liabilities - Total assets at the end of the reporting period were CNY 36,728,169,181, down 1.81% from CNY 37,403,422,526 at the end of the previous year[3] - Current assets totaled RMB 6,376,171,867, a decrease of 5.3% from RMB 6,735,513,535 at the end of 2021[11] - Total liabilities decreased to RMB 9,887,831,239 from RMB 10,198,985,923, a reduction of 3.0%[11] - The equity attributable to shareholders of the listed company decreased by 1.34% to CNY 26,877,622,904 from CNY 27,241,949,775 at the end of the previous year[3] - The equity attributable to shareholders decreased to RMB 26,877,622,904 from RMB 27,241,949,775, a decline of 1.3%[11] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 188,258, with the largest shareholder being China Railway Guangzhou Group Co., Ltd., holding 37.12% of shares[7] Operational Challenges - The company faced challenges due to the COVID-19 pandemic, which limited revenue growth and resulted in higher operating costs[6] Other Financial Metrics - The basic and diluted earnings per share were both negative CNY 0.056, compared to negative CNY 0.013 in the same period last year[3] - Non-operating income and expenses included a government subsidy of CNY 22,660,749, while total non-recurring losses amounted to CNY 14,416,513 after tax effects[4] - The company reported a significant increase in accounts receivable, totaling RMB 4,433,316,947, compared to RMB 4,396,173,803 at the end of 2021[11] - Cash and cash equivalents decreased to RMB 1,237,853,720 from RMB 1,559,462,301, reflecting a decline of 20.5%[11] - The company reported an increase in long-term investments, totaling RMB 230,049,409, compared to RMB 225,337,683 at the end of 2021[11] - The cash inflow from the disposal of fixed assets and other long-term assets was CNY 12,639,334, significantly lower than CNY 93,802,016 in Q1 2021[13] - The total cash outflow for the acquisition of fixed assets and other long-term assets was CNY 115,946,266, down from CNY 197,417,695 in the previous year[13] Product Development and Strategy - The company has not disclosed any new product developments or market expansion strategies in this report[8]

Financial Performance - Total operating revenue for 2021 was RMB 20,206,157 thousand, an increase of 23.59% compared to RMB 16,349,366 thousand in 2020[22] - Total operating expenses for 2021 were RMB 21,574,642 thousand, up 18.63% from RMB 18,186,790 thousand in 2020[22] - The company reported an operating loss of RMB 1,193,154 thousand in 2021, which is an increase of 82.93% from the loss of RMB 652,262 thousand in 2020[22] - The net loss attributable to shareholders was RMB 973 million, an increase of 74.43% compared to RMB 558 million in the previous year[38] - Basic loss per share for 2021 was RMB 0.14, representing a 75.00% increase from RMB 0.08 in 2020[22] - The net cash flow from operating activities was RMB 1.00 billion, a decrease of 24.97% compared to RMB 1.34 billion in the previous year[39] - Operating cash flow for 2021 was RMB 1,002,468 thousand, a decrease of 24.97% compared to RMB 1,336,173 thousand in 2020, primarily due to increased cash outflows exceeding cash inflows[51] Assets and Liabilities - The total assets at the end of 2021 were RMB 37,403,422 thousand, a slight increase of 1.69% from RMB 36,780,453 thousand at the end of 2020[23] - Total liabilities increased by 18.26% to RMB 10,198,986 thousand at the end of 2021, compared to RMB 8,624,284 thousand at the end of 2020[23] - Shareholders' equity (excluding minority interests) decreased by 3.37% to RMB 27,241,949 thousand at the end of 2021 from RMB 28,192,838 thousand at the end of 2020[23] - The company's asset-liability ratio stands at 27.27%, indicating a stable financial position with no outstanding loans as of the reporting period[75] Revenue Breakdown - Passenger revenue for 2021 reached RMB 616,911 million, a 49.94% increase compared to RMB 411,452 million in 2020[40] - Freight revenue increased by 19.83% to RMB 203,544 million in 2021 from RMB 169,858 million in 2020, with freight volume rising by 15.75% to 18,836,519 tons[42] - Revenue from network clearing and other transportation services grew by 12.98% to RMB 1,081,459 million in 2021, driven by increased service volume for other railway companies[43] - The company reported a significant increase in other business revenue, which rose by 23.14% to RMB 1,187 million in 2021, attributed to higher sales from maintenance and supply services[43] Operational Highlights - The company has established a competitive advantage in long-distance freight transportation within China's inland regions[20] - The company is expanding its railway operation services, which have become a new growth point since 2009, with plans to cover a broader area as new high-speed railways are completed[20] - The company operates a significant passenger transport business, with the Guangzhou-Shenzhen intercity trains running every 10 minutes during peak hours[18] - In 2021, the company achieved a total passenger volume of 40.78 million, a year-on-year decrease of 4.84%, while the cargo volume reached 18.84 million tons, an increase of 15.75%[29] Corporate Governance - The company has established a comprehensive internal control system in accordance with international standards and regulatory requirements, focusing on various management areas including financial reporting and risk management[140] - The internal control audit conducted by PwC resulted in a standard unqualified opinion, confirming the effectiveness of the financial reporting internal control system[144] - The company has not identified any issues in its corporate governance during the self-inspection of the years 2018 to 2020, complying with the requirements set by the China Securities Regulatory Commission[146] - The company has a clear policy for the appointment and remuneration of its directors and supervisors, which is subject to shareholder approval[110] Risk Management - The company has established a financial risk management program to minimize potential adverse effects from various financial risks, including foreign exchange and liquidity risks[65] - The company is closely monitoring macroeconomic conditions that could impact its financial performance and is prepared to adjust its development strategy accordingly[63] - The company anticipates that the ongoing COVID-19 pandemic will continue to adversely affect its operations, and it is taking measures to mitigate these impacts[66] Shareholder Relations - The company has maintained a cash dividend policy since its listing in 1996, with a cumulative cash dividend distribution of approximately RMB 12.3 billion and a payout ratio of about 57.77% from 1996 to 2019[134] - The company plans to distribute cash dividends annually, with a minimum payout ratio of 30% of distributable profits, and has not proposed a profit distribution plan for 2021[136] - The independent directors unanimously agree that the profit distribution proposal aligns with regulatory rules and the company's actual situation, supporting sustainable development without harming minority shareholders' interests[136] Board and Management Changes - The company experienced changes in its board members, including the election of Hu Dan as a non-executive director and Zhou Shangde as an executive director[111] - The company has seen changes in its supervisory board, with Lei Chunliang elected as the chairman of the supervisory board[111] - The company’s current management team includes experienced professionals with backgrounds in finance and engineering[105] Related Party Transactions - The company has engaged in related party transactions with China Railway, which is the actual controller of the largest shareholder, Guangshen Railway Group, holding 37.12% of the issued share capital[195] - The company has a comprehensive service framework agreement with China Railway, approved by independent shareholders, which is valid for three years starting from December 23, 2019[195] - The total transaction amount with China Railway and its subsidiaries reached 3,323,844 thousand RMB for train services[199] Employee and Training Initiatives - The total number of employees is 40,616, with 18,283 in passenger and freight operations[127] - The company paid a total of approximately RMB 41.51 million for employee training, completing 100% of the annual training plan with 1,219,418 training sessions attended[131] - The employee compensation policy links salaries closely to economic benefits and individual performance, ensuring alignment with company performance[129]

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]