9 [ 股份代號：00525 ] ANNUAL REPORT 2019 ull 110 STINNER Altraces 1 116 62 2 27 16 4 ESSEBALL 00000 | 00000 this provins "! MMW * ATHI IHMINGSO W Sall Want III IDDINGSOND 5 HIHIMILINE p t 1 11 100 " design ST 7 1 2 5 4 广州南站欢迎您 利息市场 WATHER 重要提示 公 司 第 八 屆 董 事 會 第 十 五 次 會 議 已 於2020年3月30日 審 議 通 過 了 報 告 期 利 潤 分 配 預 案， 董 事 會 建 議 以2019年12月31日 的 總 股 本 7,083,537,000股為基數，向全體股東派發2019年度末期現金股息每股 人民幣0.06元（含稅），總額為人民幣425,012,220元。該預案尚需提呈 公司2019年度股東周年大會審議批准後方可實施。 六、 前瞻性陳述的風險聲明 本年度報告中如有涉及未來計劃、發展戰略等前瞻性描述，均不構成公 司對投資者的實質承諾，敬請投資者注意風險 ...

Financial Performance - Operating revenue for the first nine months rose by 7.07% to CNY 15,613,384,504 year-on-year[4] - Net profit attributable to shareholders decreased by 9.23% to CNY 874,807,573 compared to the same period last year[4] - Basic earnings per share decreased by 9.56% to CNY 0.123[4] - Total operating revenue for Q3 2019 was CNY 5,426,455,233, an increase from CNY 5,054,145,840 in Q3 2018, representing a growth of 7.36%[18] - Net profit for Q3 2019 was CNY 114,625,328, down from CNY 308,437,883 in Q3 2018, a decrease of 62.96%[19] - Earnings per share for Q3 2019 was CNY 0.016, compared to CNY 0.044 in Q3 2018, indicating a decline of 63.64%[19] - Total comprehensive income for Q3 2019 was CNY 114,625,328, compared to CNY 308,437,883 in Q3 2018, reflecting a decline of 62.96%[19] - Total profit for Q3 2019 was CNY 170,159,502, down 58.8% from CNY 414,156,698 in Q3 2018[21] Cash Flow - Net cash flow from operating activities decreased by 13.64% to CNY 2,204,810,193 year-on-year[4] - Cash flow from operating activities for the first three quarters of 2019 was CNY 12,193,102,194, up from CNY 11,383,647,055 in the same period of 2018, representing a growth of 7.1%[22] - Net cash flow from operating activities was 2,217,466,392, down from 2,522,767,496[23] - Cash inflow from investment activities was 372,248,824, compared to 558,348,630 in the previous period[23] - Net cash flow from investment activities was (1,681,280,813), worsening from (1,358,154,314)[23] - Cash outflow from financing activities was 425,012,220, down from 566,682,960[23] - Net cash flow from financing activities was (425,012,220), compared to (566,682,960) previously[23] - The net increase in cash and cash equivalents was 111,173,359, significantly lower than 597,930,222[23] - The ending balance of cash and cash equivalents was 1,846,143,357, up from 1,749,458,502[23] Assets and Liabilities - Total assets increased by 3.28% to CNY 36,564,052,096 compared to the end of the previous year[4] - Total liabilities rose to CNY 7,298,019,942 from CNY 6,585,908,455, reflecting increased financial obligations[14] - The company's equity attributable to shareholders increased to CNY 29,302,095,613 from CNY 28,852,300,260, showing a positive trend in shareholder value[14] - Total assets as of the end of Q3 2019 amounted to CNY 36,336,280,197, up from CNY 35,148,970,254 at the end of Q3 2018, an increase of 3.38%[17] - Total liabilities increased to CNY 6,888,619,590 in Q3 2019 from CNY 6,163,505,789 in Q3 2018, representing a rise of 11.74%[17] - The company's total equity reached CNY 29,447,660,607 in Q3 2019, compared to CNY 28,985,464,465 in Q3 2018, an increase of 1.60%[17] Expenses - Financial expenses amounted to ¥25,060,671, reflecting interest expenses on lease liabilities due to new leasing standards[9] - The financial expenses for Q3 2019 were CNY 7,706,946, compared to a financial income of CNY 4,470,300 in Q3 2018, indicating a significant shift in financial performance[18] - Total operating costs for Q3 2019 were CNY 5,258,677,102, compared to CNY 4,631,618,995 in Q3 2018, reflecting an increase of 13.51%[18] - Operating costs for Q3 2019 were CNY 5,102,625,974, an increase of 13.5% from CNY 4,495,024,352 in Q3 2018[21] - Total cash paid to employees was 5,479,631,060, compared to 5,061,360,827 in the previous period[23] - Total taxes paid increased to 710,191,158 from 417,319,995[23] Shareholder Information - The total number of shareholders at the end of the reporting period was 222,811[7] - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 37.12% of the shares[7] Government Support - The company received government subsidies amounting to CNY 6,889,386 for the year-to-date[5] Other Information - The company has not disclosed any new product or technology developments in this report[8] - Other current assets decreased by 74.91% to ¥37,222,484 due to a reduction in prepaid project payments[9] - Construction in progress increased by 39.57% to ¥2,551,791,223 due to increased investment expenditures[9] - Right-of-use assets were recognized at ¥1,167,212,113, reflecting the implementation of new leasing standards[9] - Deferred income tax assets rose by 40.30% to ¥276,804,091 due to the recognition of deferred tax assets from prepaid land disposal payments[9] - Prepayments increased by 44.96% to ¥851,066,286, attributed to prepaid land disposal payments[9] - The company reported a total of CNY 1,139,710 in other income for Q3 2019, down from CNY 4,425,171 in Q3 2018, a decrease of 74.19%[19] - Investment income for Q3 2019 showed a loss of CNY 242,855, compared to a profit of CNY 9,154,288 in Q3 2018[21] - The company’s management expenses for Q3 2019 were CNY 68,141,714, slightly up from CNY 66,796,793 in Q3 2018[21]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2019, representing a year-on-year increase of 5% compared to RMB 1.14 billion in the same period of 2018[14]. - The net profit attributable to shareholders for the first half of 2019 was RMB 300 million, up 10% from RMB 272 million in the first half of 2018[14]. - The company's operating revenue for the first half of 2019 was RMB 10.19 billion, an increase of 6.92% compared to RMB 9.53 billion in the same period last year[21]. - Net profit attributable to shareholders was RMB 762.16 million, representing a growth of 16.52% from RMB 654.09 million year-on-year[21]. - Basic earnings per share increased to RMB 0.11, up 22.22% from RMB 0.09 in the previous year[16]. - The company's total profit for the first half of 2019 was RMB 1,016,837,254, an increase of 16.4% from RMB 873,168,172 year-on-year[96]. - The company reported a net profit of RMB 666,406,586 for the current period, despite a profit distribution of RMB (566,682,960)[108]. Passenger and Freight Operations - Passenger traffic volume increased by 8% year-on-year, reaching 15 million passengers in the first half of 2019[14]. - Passenger transport revenue reached RMB 4.08 billion, a slight increase of 1.59% from RMB 4.01 billion in the previous year[24]. - Freight revenue was RMB 917.58 million, marking a 6.04% increase from RMB 865.35 million year-on-year[25]. - The total number of passengers transported was 43.73 million, a marginal increase of 0.28% compared to 43.61 million in the same period last year[24]. - The company reported a total of 248.5 pairs of passenger trains operated daily, with significant growth in the Guangzhou-Shenzhen intercity trains[23]. Investments and Future Plans - The company plans to expand its service routes by 15% over the next two years, focusing on enhancing connectivity in the Guangdong-Hong Kong-Macau Greater Bay Area[14]. - The company has invested RMB 200 million in new technology development aimed at improving operational efficiency and customer experience[14]. - The company aims to strengthen strategic cooperation with large enterprises to expand bulk cargo volume in the freight business[37]. - The company will focus on cost control and improve budget management to enhance operational efficiency[37]. Financial Position and Assets - The company's total assets increased to RMB 36.34 billion, a growth of 2.65% from RMB 35.40 billion at the end of the previous year[7]. - The company's asset-liability ratio is 19.79%, indicating a strong financial position with no borrowings at the end of the reporting period[41]. - The company has sufficient operating funds and cash flow, primarily sourced from operating activities, to meet its development needs[41]. - The company reported cash and cash equivalents of RMB 1,930,067,652, up from RMB 1,847,752,921, which is an increase of 4.4%[92]. Risk Management and Compliance - The board of directors has highlighted potential risks in future operations, including regulatory changes and market competition[4]. - The company actively monitors foreign exchange risks, particularly related to USD and HKD, but does not currently use financial instruments for hedging[43]. - The company has established a financial risk management program to minimize potential adverse impacts from various financial risks[40]. - The company is committed to maintaining transparency and has ensured that all financial reports are prepared in accordance with Chinese accounting standards[2]. Corporate Governance - The board of directors consists of nine members, including three independent non-executive directors, ensuring diverse expertise and governance[62]. - The audit committee, composed of independent non-executive directors, oversees financial performance and internal controls[63]. - The company has complied with the corporate governance code, with no significant deviations noted during the reporting period[65]. - The company maintains a commitment to transparent information disclosure, enhancing investor confidence and understanding of its business and management[69]. Environmental and Social Responsibility - Guangzhou Railway Group is a key polluter and has been listed as a major pollutant discharge unit by local environmental authorities[53]. - The wastewater discharge from Guangzhou Vehicle Section meets the standards, with no exceedance reported for pollutants such as COD and BOD[54]. - The company has established a detailed emergency response plan for environmental incidents to minimize damage and social harm[57]. - The company has implemented an automatic water quality monitoring system to ensure compliance with discharge standards[58]. Employee and Shareholder Information - The total number of employees at the company is 41,781, a decrease of 957 from the previous year due to natural attrition from retirements[86]. - The total salary and benefits paid to employees during the reporting period amounted to approximately RMB 3.486 billion[87]. - The total number of ordinary shareholders reached 227,616 by the end of the reporting period[73]. - The company encourages all shareholders to attend the general meetings and provides necessary materials to facilitate their decision-making[69].

Financial Performance - The company reported a revenue of 1.5 billion RMB for the first half of 2019, representing a year-on-year increase of 10% compared to the same period in 2018[11]. - Total operating revenue for the first half of 2019 was RMB 10.19 billion, an increase of 6.92% compared to RMB 9.53 billion in the same period last year[23]. - Operating profit reached RMB 1.06 billion, reflecting a growth of 22.05% from RMB 866.68 million year-on-year[23]. - Net profit for the period was RMB 760.1 million, compared to RMB 651.6 million in the same period last year, reflecting an increase of approximately 16.7%[116]. - The total revenue for the railway business reached RMB 9.734 billion, compared to RMB 9.123 billion in the same period last year, representing an increase of approximately 6.7%[115]. - The group reported a net profit of RMB 774,347,000 for the period, an increase from RMB 662,131,000 in the same period of the previous year[150]. - The total comprehensive income for the six months ended June 30, 2019, was RMB 762,160 thousand, compared to RMB 651,585 thousand for the same period in 2018, reflecting an increase of approximately 17%[117]. Passenger and Freight Operations - The total number of passengers transported during the reporting period reached 50 million, an increase of 15% year-on-year[11]. - Passenger revenue for the first half of 2019 was RMB 4.08 billion, a slight increase of 1.59% from RMB 4.01 billion in the same period last year[27]. - Freight revenue increased to RMB 917.58 million, up 6.04% from RMB 865.35 million year-on-year[29]. - The total revenue from passenger transport was RMB 3,788,811 thousand, an increase from RMB 3,761,102 thousand in the same period of 2018, representing a growth of approximately 0.73%[185]. - The total revenue from freight transport for the same period was RMB 917,579 thousand, up from RMB 865,349 thousand in 2018, indicating an increase of about 6.04%[185]. Investments and Capital Expenditures - The company is focusing on the development of new technologies to improve operational efficiency, with an investment of 200 million RMB allocated for R&D in 2019[11]. - The company’s investment in CRH6A train sets amounted to RMB 77,328 million, with 100% project completion[39]. - Total capital commitments approved but not contracted as of June 30, 2019, amounted to RMB 1,873,157,000, compared to RMB 1,765,710,000 as of December 31, 2018[166]. Financial Position and Liquidity - The company maintains a strong liquidity position with cash reserves of 500 million RMB as of June 30, 2019[11]. - Total assets at the end of the reporting period were RMB 36.34 billion, a 2.65% increase from RMB 35.40 billion at the end of the previous year[16]. - The company’s total assets as of June 30, 2019, were RMB 29,189,447 thousand, compared to RMB 28,816,329 thousand as of January 1, 2019, indicating growth in total assets[117]. - The company has sufficient operating capital and cash flow to meet its development needs[48]. Risk Management and Compliance - The company has outlined potential risks in its future plans, emphasizing the importance of risk management strategies[6]. - The company has established a financial risk management program to minimize potential adverse impacts on financial performance[47]. - The financial statements were prepared in accordance with international financial reporting standards and have not been audited[5]. - The company has engaged PwC as its domestic auditor and has no significant changes in its accounting practices[15]. Corporate Governance - The board of directors consists of nine members, including three independent non-executive directors, ensuring diverse expertise and experience[74]. - The audit committee, composed of three independent non-executive directors, oversees financial performance and internal control compliance[75]. - The company has maintained compliance with the corporate governance code, with no significant deviations noted during the reporting period[78]. - The company has implemented a robust investor relations strategy to build trust and enhance communication with stakeholders[80]. Shareholder Information - The company has distributed a total cash dividend of approximately RMB 11.9 billion since its listing in 1996[84]. - The company has maintained a consistent dividend payout, with a cumulative dividend payout ratio of 56.62% over the years[85]. - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of total shares[88]. - As of the end of the reporting period, the total number of ordinary shareholders was 227,616[87]. Environmental and Social Responsibility - The company has implemented a detailed emergency response plan for environmental incidents to minimize losses and social harm[70]. - The company’s subsidiary Guangzhou Locomotive Depot is listed as a key pollutant discharge unit by the local environmental authority[66]. - Automatic water quality monitoring equipment is installed at the wastewater treatment plant to ensure compliance with discharge standards[71]. Employee Information - The total number of employees at the end of the reporting period is 41,781, a decrease of 957 from the previous year due to natural attrition[106]. - Total employee wages and benefits paid during the reporting period amounted to approximately RMB 3.486 billion[107]. - A total of 366,267 training sessions were attended by employees, completing 50% of the annual training plan, with training expenses around RMB 11.7268 million[108].

Financial Performance - Net profit attributable to shareholders was CNY 390,328,251, representing a decrease of 12.49% year-on-year[4]. - Operating revenue for the period was CNY 5,116,121,596, reflecting a growth of 4.91% compared to the same period last year[4]. - Basic and diluted earnings per share were both CNY 0.055, down 12.70% from the previous year[4]. - Net profit for Q1 2019 was CNY 388,486,964, a decrease of 12.6% from CNY 444,644,636 in Q1 2018[19]. - Total operating revenue for Q1 2019 was CNY 5,116,121,596, an increase of 4.9% compared to CNY 4,876,605,925 in Q1 2018[18]. - Total operating costs for Q1 2019 were CNY 4,581,553,581, up from CNY 4,287,721,442 in Q1 2018, reflecting a year-over-year increase of 6.8%[18]. Cash Flow - Net cash flow from operating activities was CNY 172,145,630, a significant decline of 75.61% year-on-year[4]. - Cash flow from operating activities for Q1 2019 was CNY 172,145,630, significantly lower than CNY 705,666,467 in Q1 2018[22]. - The net cash flow from operating activities was CNY 174,252,773, significantly down from CNY 694,126,485 in the same period last year, representing a decline of 74.9%[24]. - The total cash outflow from investing activities was CNY 605,533,934, an increase from CNY 577,482,408 in Q1 2018, indicating a rise of 4.3%[24]. - The net cash flow from investing activities was negative at CNY 471,448,888, slightly improved from negative CNY 574,356,901 in Q1 2018[24]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 36,360,548,077, an increase of 2.71% compared to the end of the previous year[4]. - Total assets increased to RMB 36,360,548,077 as of March 31, 2019, up from RMB 35,402,238,770 as of December 31, 2018, representing a growth of 2.71%[14]. - Total liabilities increased to CNY 6,729,819,652 in the latest report from CNY 6,163,505,789 in the previous period[17]. - Total liabilities rose to CNY 7,763,153,910, an increase of 17.9% from CNY 6,585,908,455 at the end of 2018[26]. - The company reported a total equity of RMB 29,204,817,279 as of March 31, 2019, compared to RMB 28,816,330,315 as of December 31, 2018, indicating an increase of 1.35%[15]. Shareholder Information - The total number of shareholders at the end of the reporting period was 2,629,451,300, with the largest shareholder holding 37.12%[6]. - The company plans to distribute a cash dividend of RMB 0.06 per share, totaling RMB 425,012,220, pending approval at the annual general meeting[11]. - The total equity attributable to shareholders was CNY 28,852,300,260, unchanged from the previous year, indicating stability in shareholder equity[26]. Expenses and Investments - Management expenses rose by 58.05% to RMB 82,637,079 in Q1 2019 compared to RMB 52,286,350 in Q1 2018, attributed to increased administrative costs[8]. - Investment income turned negative at RMB (15,998,298) in Q1 2019, a decline of 973.81% from RMB 1,830,871 in Q1 2018, due to decreased profits from joint ventures[8]. - The company reported a significant increase in cash outflow for employee payments, totaling CNY 1,729,668,289, compared to CNY 1,621,909,388 in Q1 2018, marking a rise of 6.7%[24]. Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[7]. - There were no significant mergers or acquisitions reported during the quarter[7]. - The company has recognized a right-of-use asset valued at CNY 1,177,245,455 due to the new leasing standard[28].

Financial Performance - The company's operating revenue for 2018 was CNY 19.83 billion, an increase of 8.16% compared to CNY 18.33 billion in 2017[17]. - The net profit attributable to shareholders for 2018 was CNY 784.06 million, a decrease of 22.78% from CNY 1.02 billion in 2017[17]. - The net cash flow from operating activities increased by 23.78% to CNY 3.26 billion in 2018, up from CNY 2.63 billion in 2017[19]. - The total assets of the company at the end of 2018 were CNY 35.40 billion, reflecting a 4.14% increase from CNY 33.99 billion at the end of 2017[19]. - The basic earnings per share for 2018 were CNY 0.11, down 21.43% from CNY 0.14 in 2017[20]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to CNY 895.91 million, down 15.56% from CNY 1.06 billion in 2017[17]. - The company’s net assets attributable to shareholders at the end of 2018 were CNY 28.85 billion, a slight increase of 0.58% from CNY 28.68 billion in 2017[19]. - The company reported a total revenue of RMB 10.5 billion for the year 2018, representing a year-on-year increase of 8%[113]. - The net profit for 2018 was RMB 779,034,156, a decrease of 23.0% compared to RMB 1,011,768,049 in 2017[186]. Dividend Policy - The board of directors proposed a cash dividend of RMB 0.06 per share, totaling RMB 425,012,220 based on a total share capital of 7,083,537,000 shares as of December 31, 2018[3]. - The company plans to distribute a cash dividend of RMB 0.06 per share, which accounts for 54.55% of the basic earnings per share for the year[29]. - The company has maintained a cash dividend payout ratio of no less than 30% of the average distributable profit over three consecutive years[72]. - The company implemented a cash dividend policy, distributing a total of RMB 566,682,960 to shareholders for the 2017 fiscal year, with a cash dividend of RMB 0.80 per 10 shares[72]. Audit and Compliance - The company received a standard unqualified audit report from PwC Zhongtian[2]. - The company has appointed PwC Zhongtian as its domestic auditor and RSM Hong Kong as its overseas auditor[13]. - The audit opinion states that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2018[170]. - The audit committee held 7 meetings in 2018, discussing the financial reports and internal controls before recommending them to the board[169]. - PwC provided an unqualified audit report on the effectiveness of the internal control system related to financial reporting[143]. Operational Highlights - The company operated 252 pairs of passenger trains daily as of December 31, 2018, including 109 pairs of intercity trains[16]. - The total passenger volume reached 89.35 million, a year-on-year growth of 4.95%, while cargo volume was 15.71 million tons, a slight decline of 0.98%[29]. - The company provided railway operation services for multiple railways, including the Wuhan-Guangzhou Railway and the Guangzhou-Zhuhai Intercity Railway, contributing to new business growth[16]. - The company plans to achieve a passenger volume of 82.6 million and a cargo volume of 16.61 million tons in 2019[59]. Risk Management - The company has established a financial risk management program to minimize potential adverse impacts on financial performance[61]. - The company has a structured approach to risk management, ensuring that internal controls are in place to mitigate potential risks associated with business operations[165]. - The company confirmed no non-operating fund occupation by controlling shareholders or related parties[4]. - The company has detailed potential risks in the annual report, which can be found in the "Board Report" section[5]. Shareholder Information - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, accounting for 37.12% of the total shares[97]. - Public shareholding amounts to 4,454,085,700 shares, representing 62.88% of the total share capital, with a market value of approximately RMB 14.075 billion based on a closing price of RMB 3.16 per share[105]. - The company has 227,901 ordinary shareholders as of the end of the reporting period, an increase from 223,414 in the previous month[96]. Governance and Management - The company has a governance structure that includes various committees and positions, ensuring effective management[118]. - The board of directors consists of nine members, including three independent non-executive directors, ensuring diverse backgrounds and experiences[147]. - The company has established a board diversity policy in December 2018, focusing on measurable diversity goals including gender, cultural background, and professional experience[148]. - The company has improved its governance structure and internal control systems since its listings in 1996 and 2006, ensuring compliance with regulatory requirements[129]. Future Outlook - The company expects continued rapid growth in national railway passenger and freight transport demand in 2019 due to ongoing investments in railway infrastructure[30]. - Future outlook remains positive with expected revenue growth of 10% in 2019, driven by increased passenger demand and operational efficiency[113]. - The company plans to expand its rail network by 15% over the next five years, focusing on high-speed rail projects[114]. - The company is exploring potential mergers and acquisitions to strengthen its market position in the rail transport sector[114].

Passenger and Freight Operations - Passenger turnover reached 25.497 billion passenger-kilometers in 2018, with a total of 89.3484 million passengers transported[5]. - Total freight turnover was 10.705 billion ton-kilometers, with a total freight volume of 5.21105 million tons in 2018[5]. - The company reported a significant increase in passenger numbers, with intercity train passengers accounting for 45.4543 million and long-distance train passengers at 40.2972 million[5]. - The company operates 252 pairs of passenger trains daily, including 109 pairs of Guangzhou-Shenzhen intercity trains[35]. - The freight business is a significant part of the company's operations, with a focus on long-distance transportation in inland China[38]. - The company has expanded its railway operation services since 2009, now covering multiple railways including the Wuhan-Guangzhou line[38]. - In 2018, the company achieved a passenger volume of 89.35 million, an increase of 4.95% year-on-year, and a freight volume of 15.71 million tons, a decrease of 0.98% year-on-year[56]. - Passenger revenue reached RMB 8.11 billion, a growth of 4.53% from RMB 7.76 billion in 2017, with the Guangzhou-Shenzhen intercity train contributing RMB 2.88 billion, up 12.11%[65]. Financial Performance - Total operating revenue for 2018 was RMB 19,828,018 thousand, an increase of 8.16% compared to RMB 18,331,422 thousand in 2017[39]. - Total operating expenses rose to RMB 18,658,213 thousand, reflecting a 10.19% increase from RMB 16,932,587 thousand in the previous year[39]. - Operating profit decreased by 21.34% to RMB 1,062,253 thousand from RMB 1,350,358 thousand in 2017[39]. - Net profit attributable to shareholders was RMB 784,059 thousand, down 22.78% from RMB 1,015,361 thousand in 2017[39]. - The basic earnings per share for 2018 was RMB 0.11, a decrease of 21.43% from RMB 0.14 in 2017[39]. - The company's operating revenue for 2018 was RMB 19.83 billion, representing an 8.16% year-on-year growth, while the net profit attributable to shareholders was RMB 784 million, a decline of 22.78% year-on-year[56]. Dividends and Shareholder Returns - The board proposed a final cash dividend of RMB 0.06 per share, totaling RMB 425,012,220 based on a total share capital of 7,083,537,000 shares as of December 31, 2018[10]. - The board proposed a final cash dividend of RMB 0.06 per share for 2018, accounting for 54.55% of the basic earnings per share[57]. - The company is committed to maintaining a long-term stable cash dividend policy to provide continuous returns to shareholders[57]. - The company has implemented a cash dividend policy with a minimum annual payout ratio of 30% of distributable profits, ensuring reasonable returns for investors[132]. - The company has maintained a consistent profit distribution policy since its listing in 1996, emphasizing sustainable development alongside investor returns[133]. Operational Efficiency and Strategy - The company continues to focus on enhancing its operational efficiency and service quality to meet growing passenger demand[10]. - The company plans to enhance its operational efficiency and service quality by implementing a freight increase initiative and a passenger service improvement plan in 2019[61]. - The company aims to strengthen cost control and improve operational management to adapt to the new economic normal and industry management system[61]. - The company is actively pursuing market expansion and new strategies, although specific details were not disclosed in the report[10]. - The company is focused on improving service quality and operational efficiency in response to competitive pressures from other transportation modes[107]. Financial Stability and Risk Management - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by the standard unqualified audit opinion from PwC[11]. - The company has established a financial risk management procedure to minimize potential adverse impacts from foreign exchange, interest rate, credit, and liquidity risks[107]. - The company has a debt-to-asset ratio of 18.60% as of the end of the reporting period, indicating a low level of leverage[108]. - The company reported no borrowings or asset pledges at the end of the reporting period, ensuring strong liquidity[108]. - The company has sufficient operating funds, bank credit, and other sources of funding to meet its operational development needs[108]. Related Party Transactions and Governance - The company has not reported any instances of non-operational fund occupation by controlling shareholders or related parties[10]. - The total amount of related party transactions with the major shareholder and its subsidiaries was RMB 5,000,000 thousand[150][153]. - The company has adhered to fair pricing principles in all related party transactions, ensuring they are conducted at arm's length[150][153]. - The company has established internal control procedures to ensure compliance with the stock exchange's regulations regarding related party transactions[157]. - The company confirmed that there were no significant litigation or arbitration matters during the reporting period[147]. Environmental and Social Responsibility - The company’s wastewater treatment facility at the Sun Gang passenger technology station has a daily treatment capacity of 700 tons and has been operating well since its establishment in 2008[170]. - The company has not disclosed any major environmental issues or social safety problems during the reporting period[164]. - The company has established an emergency response plan for environmental incidents at its wastewater treatment station to minimize potential damage[172]. - The company’s environmental monitoring equipment allows for real-time water quality monitoring at its wastewater treatment facility[173]. - The company’s major subsidiaries are listed as key pollutant discharge units by local environmental protection authorities[167]. Shareholder Structure - The total number of ordinary shareholders as of the end of the reporting period is 227,901, an increase from 223,414 at the end of the previous month[184]. - The largest shareholder, China Railway Guangzhou Group Co., Ltd., holds 2,629,451,300 shares, representing 37.12% of the total shares[186]. - The public shareholding amount is 4,454,085,700 shares, which constitutes 62.88% of the total share capital[200]. - The company has no other shareholders holding 10% or more of the shares, excluding HKSCC Nominees Limited[199]. - The number of shares held by the top ten unrestricted shareholders includes significant holdings by state-owned entities[186].

公司代码：601333 公司简称：广深铁路 广深铁路股份有限公司 Guangshen Railway Company Limited （于中华人民共和国注册成立之股份有限公司） 2018 年第三季度报告(全文) 2018 年 10 月 25 日 | 一、重要提示 3 | | --- | | 二、公司基本情况 3 | | 三、重要事项 5 | | 四、附录 7 | 广深铁路 2018 年第三季度报告(全文) 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | | 本报告期末比上年 度末增减(%) | | | --- | --- | --- | --- | --- | --- | --- | | 总资产 | 34,365,248,146 | | 33,994,238,908 | | | 1.09 | | 归属于上市公司股东的净资产 | 29,032,096,498 | | 28,684,676,483 | | | 1.21 | | | 年初至报告期末 | | 上年初至上年报告 | | 比上年同期增减 | | | | （1-9 | 月） | 期 ...

Financial Performance - Guangshen Railway reported a total revenue of RMB 2.5 billion for the first half of 2018, representing a year-on-year increase of 10%[19]. - The company's net profit for the same period was RMB 600 million, up 15% compared to the previous year[19]. - The company's operating revenue for the first half of 2018 was RMB 9.53 billion, an increase of 13.26% compared to RMB 8.41 billion in the same period last year[21]. - Net profit attributable to shareholders was RMB 654 million, representing a growth of 28.58% from RMB 509 million in the previous year[21]. - Basic earnings per share increased to RMB 0.09, a rise of 28.57% compared to RMB 0.07 in the same period last year[22]. - The total profit for the current period was ¥873,168,172, a 29.7% increase from ¥672,973,360 in the previous period[120]. - The company reported a total revenue of CNY 6,845,313,988 for the first half of 2018, compared to CNY 6,070,016,721 for the same period in 2017, indicating a year-over-year growth of approximately 12.7%[117]. - The net profit for the first half of 2018 was CNY 1,200,000,000, representing an increase of 15% compared to the previous year[119]. Passenger and Freight Operations - Passenger traffic increased by 8% year-on-year, reaching 15 million passengers in the first half of 2018[19]. - The average ticket price rose by 5% to RMB 167 per passenger, contributing to revenue growth[19]. - Passenger transport revenue was RMB 4.01 billion, a 3.92% increase from RMB 3.86 billion in the same period last year[33]. - Freight revenue decreased to RMB 865 million, down 2.98% from RMB 892 million year-on-year, primarily due to the impact of the freight transportation reform[35]. - The total number of passengers transported increased to 43.61 million, a growth of 3.64% compared to 42.08 million in the previous year[34]. - The company operated 250 pairs of passenger trains daily, including 107 pairs of intercity trains and 130 pairs of long-distance trains[33]. Investments and Future Plans - The company plans to expand its service network by adding new routes, aiming for a 20% increase in total passenger capacity by 2020[19]. - Guangshen Railway is investing RMB 500 million in new technology for ticketing and customer service improvements[19]. - The company plans to enhance passenger services and optimize train operations in response to upcoming peak travel seasons and the opening of the Guangzhou-Shenzhen-Hong Kong Express Rail Link[52]. - The company aims to strengthen its core railway transportation business and improve cost control measures in the second half of 2018[52]. - Management indicated plans for market expansion and new product development to drive future growth[120]. Financial Position and Cash Flow - The company's total assets increased to RMB 34.50 billion, reflecting a growth of 1.50% from RMB 33.99 billion at the end of the previous year[21]. - The net cash flow from operating activities reached RMB 1.46 billion, up 17.08% from RMB 1.24 billion year-on-year[21]. - Cash and cash equivalents increased by 60.75% year-on-year to RMB 2.04 billion, mainly due to pre-receipts for land use rights compensation[46]. - The company has a cash flow sufficient to meet operational needs, with a debt-to-asset ratio of 16.84% as of the reporting period end[56]. - The company maintained a strong cash position with a cash and cash equivalents balance of ¥1,933,161,920 at the end of the period, up from ¥1,401,332,521[126]. Governance and Compliance - The board of directors consists of nine members, including three independent non-executive directors, ensuring diverse expertise and oversight[77]. - The audit committee, composed of three independent non-executive directors, is responsible for reviewing financial performance and ensuring compliance with regulations[78]. - The company has committed to continuously improving its governance structure and internal management systems to promote sustainable development[76]. - The company provided monthly financial reports to its largest shareholder, ensuring compliance with insider information management regulations[75]. - The company has established a mechanism for direct dialogue with investors, including an investor hotline and a dedicated email for inquiries[85]. Risks and Challenges - The company has outlined potential risks in its board report, advising investors to be cautious[6]. - The company is exposed to foreign exchange risks primarily related to USD and HKD, but has not employed any financial instruments to hedge these risks[58]. - The company has established a financial risk management program to minimize the adverse effects of various financial risks, including foreign exchange and liquidity risks[55]. - The company is actively monitoring macroeconomic conditions and will adjust its operational strategies accordingly to maintain stability in production and operations[54]. Employee and Training - The total number of employees decreased to 42,817, down by 950 from the previous year, primarily due to natural attrition from retirements[107]. - The total salary and welfare expenses paid to employees amounted to approximately RMB 3.306 billion[108]. - A total of 604,944 person-times participated in various vocational training programs, completing 50% of the annual training plan[109]. - The company has implemented a salary policy based on budget management, linking performance to compensation[108]. Environmental Compliance - The Guangzhou Locomotive Depot is listed as a key pollutant discharge unit, and the company has complied with environmental information disclosure requirements[69]. - The wastewater treatment facility at the Guangzhou Vehicle Depot has a daily capacity of 700 tons and has been operating effectively since its establishment in 2008[70]. - The company has established a detailed emergency plan for environmental incidents to minimize damage and social harm from unexpected events[72].

Financial Performance - Total revenue for the first quarter of 2018 reached RMB 4,876,605,925, representing a 13.16% increase compared to RMB 4,309,396,605 in the same period last year[10] - Net profit attributable to shareholders was RMB 446,044,695, a significant increase of 57.89% from RMB 282,500,245 year-on-year[10] - Basic and diluted earnings per share were both RMB 0.063, reflecting a 57.50% increase from RMB 0.040 in the same period last year[10] - The operating profit for Q1 2018 was CNY 592,727,901, representing a significant increase from CNY 379,289,308 in Q1 2017[27] - The total profit for the quarter was CNY 590,570,163, compared to CNY 380,741,351 in the previous year, indicating a growth of 55.1%[30] - The total comprehensive income for Q1 2018 was CNY 443,808,015, compared to CNY 286,457,268 in the same period last year, showing a growth of 55.0%[31] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was RMB 705,666,467, down 24.53% from RMB 935,053,568 in the previous year[10] - The company's cash and cash equivalents increased to CNY 1,394,053,100 from CNY 1,268,514,534 at the beginning of the year, reflecting a growth of 9.9%[22] - The cash and cash equivalents at the end of Q1 2018 totaled CNY 1,271,297,864, down from CNY 1,789,371,956 at the end of Q1 2017[35] - Total assets at the end of the reporting period were RMB 33,999,738,254, a slight increase of 0.16% from RMB 33,944,565,753 at the end of the previous year[10] - Total liabilities decreased to CNY 4,947,685,954 from CNY 5,337,158,089, a reduction of 7.3%[23] Shareholder Information - The net assets attributable to shareholders increased by 1.56% to RMB 29,081,048,023 from RMB 28,635,003,328 at the end of the previous year[10] - The company plans to distribute a cash dividend of RMB 0.08 per share, totaling RMB 566,682,960, subject to approval at the annual general meeting[15] - The company's equity attributable to shareholders increased to CNY 29,081,048,023 from CNY 28,635,003,328, marking a growth of 1.6%[23] Operating Costs and Expenses - The total operating costs for Q1 2018 were CNY 4,287,721,442, up 9.0% from CNY 3,934,120,141 in Q1 2017[27] - The company incurred a tax expense of CNY 146,762,148, which is an increase from CNY 94,284,083 in the previous year, reflecting a rise of 55.7%[30] - The company reported a non-recurring loss of RMB 581,218, which includes various non-operating income and expenses[9] Internal Control and Compliance - The company completed its internal control evaluation for 2017, receiving an unqualified audit opinion from PwC[16] - The company plans to enhance internal control systems in accordance with regulatory requirements to promote sustainable development[21] Investment Income - The company reported an investment income of CNY 1,830,871, down from CNY 2,432,377 in the previous year[27] - The company reported an increase in investment income to CNY 1,830,871 from CNY 2,432,377, a decline of 24.8% year-on-year[30]