汇通建设集团股份有限公司独立董事 关于第二届董事会第二次会议相关事项的独立意见 根据中国证监会《上市公司独立董事规则》《上海证券交易所股票上市规则》 相关法律法规《公司章程》的要求,我们作为汇通建设集团股份有限公司(以下 简称"公司")的独立董事,本着认真、严谨、负责的态度,对公司第二届董事 会第二次会议审议的相关事项发表独立意见如下: 一、关于《公司 2023年半年度募集资金存放与实际使用情况的 专项报告》的议案的独立意见 公司 2023 年半年度募集资金存放与实际使用情况符合有关法律、法规和《汇 通建设集团股份有限公司募集资金管理制度》的相关规定。《汇通建设集团股份 有限公司 2023 年半年度募集资金存放与实际使用情况专项报告》真实、准确、 完整的反映公司募集资金存放、使用、管理情况,公司对募集资金进行了专户存 储和专项使用,募集资金使用符合规定程序,不存在变相改变募集资金用途的情 形,不存在违规存放与使用募集资金的情形,亦不存在损害公司及股东特别是中 小股东利益的情形。因此,我们一致同意《关于《公司 2023年半年度募集资金存 放与实际使用情况专项报告>的议案》。 (以下无正文) (本页无正文,为《汇 ...

证券代码：603176 证券简称：汇通集团 公告编号：2023-049 债券代码：113665 债券简称：汇通转债 汇通建设集团股份有限公司 2023年半年度募集资金存放与实际使用情况的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责 任。 | | | 金额单位：人民币元 | | | --- | --- | --- | --- | | 项 | | 金 额 | 目 | | 应募集资金总额 | 198,322,000.00 | | | | 减：不含税的发行费用 | 56,965,215.95 | | | | 实际募集资金净额 | 141,356,784.05 | | | | 加：尚未支付的不含税发行费用 | 17,521,819.73 | | | | 以自筹资金预先支付不含税发行费用 | 7,443,396.22 | | | | 减：发行承销费进项税 | 1,920,000.00 | | | | 截至 2021 年 12 月 28 日募集资金专户余额 | 164,402,000.00 | | | | 以前年度直接投入募集资金项 ...

证券代码：603176 证券简称：汇通集团 公告编号：2023-050 债券代码：113665 债券简称：汇通转债 汇通建设集团股份有限公司 2023年半年度定期经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 根据上海证券交易所发布的《上海证券交易所上市公司自律监 管指引第 3 号行业信息披露：第八号——建筑》的相关规定，现将 汇通建设集团股份有限公司（以下简称"公司"）2023 年半年度主 要经营数据（未经审计）公告如下： 一、公司主营经营数据 （一）建造合同 公司本报告期新签订单 10 个，订单金额 91,082.14 万元，本报 告期比上年同期订单金额 278,431.32 万元下降 67.29%。 （二）商品销售 公司本报告期新签订单 44 个，订单金额 12,187.64 万元，本报 告期比上年同期订单金额 39,994.33 万元下降 69.53%。 （三）勘察设计 公司本报告期新签订单 9 个，订单金额 132.19 万元，本报告期 比上年同期订单金额 606.49 万元下降 78.20%。 （ ...

证券代码：603176 证券简称：汇通集团 公告编号：2023-047 债券代码：113665 债券简称：汇通转债 汇通建设集团股份有限公司 第二届董事会第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 一、董事会会议召开情况 汇通建设集团股份有限公司（以下简称"公司"）第二届董事会 第二次会议于 2023 年 8 月 18 日通过专人送达的形式发出会议通知。 于 2023 年 8 月 28 日在公司会议室以现场结合通讯方式召开。会议应 到董事 11 名，实到董事 11 名。本次会议由公司董事长张忠强先生主 持召开。本次会议符合《中华人民共和国公司法》和《公司章程》等 有关规定，会议合法、有效。 二、董事会会议审议情况 会议审议并表决通过如下议案： 1、审议通过了《关于<公司 2023 年半年度报告及其摘要>的议案》 公司董事会对 2023 年半年度报告及其摘要进行了认真严格的审 核，认为公司 2023 年半年度报告及其摘要符合《证券法》及中国证 券监督管理委员会的编制要求，能充分反映公司 2023 年上半 ...

证券代码：603176 证券简称：汇通集团 公告编号：2023-039 债券代码：113665 债券简称：汇通转债 汇通建设集团股份有限公司 关于参加河北辖区上市公司2023年投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 为进一步加强与投资者的互动交流，汇通建设集团股份有限公司（以 下简称"公司"）将参加由河北证监局、河北省上市公司协会与深圳市 全景网络有限公司联合举办的"2023年河北辖区上市公司投资者集体接 待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（http://rs.p5w.net），或关注微信公众号：全景财经，或下载全 景路演 APP,参与本次互动交流，活动时间为 2023 年 5 月 30 日（周二） 15:40-17:00。届时公司高管将在线就公司 2022 年度业绩、公司治理、 发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关心 的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 汇通建 ...

Financial Performance - The net profit attributable to shareholders for 2022 was RMB 73,896,904.01, with a total distributable profit of RMB 142,253,480.91 at year-end[5]. - The company's operating revenue for 2022 was ¥2,661,973,796.13, representing a year-on-year increase of 12.41% compared to ¥2,368,160,682.09 in 2021[25]. - The net profit attributable to shareholders for 2022 was ¥73,896,904.01, a decrease of 11.78% from ¥83,761,664.82 in 2021[25]. - The basic earnings per share for 2022 was ¥0.16, down 33.33% from ¥0.24 in 2021[26]. - The company achieved operating revenue of 2,661.97 million RMB, a year-on-year increase of 12.41%[38]. - The net profit attributable to shareholders was 73.90 million RMB, a year-on-year decrease of 11.78%, while the net profit after deducting non-recurring gains and losses was 70.71 million RMB, down 13.62%[38]. - The company reported a net profit of ¥14,998,799.26 in Q3 2022, showing recovery compared to previous quarters[31]. - The company reported a total revenue of 1.5 billion in 2022, representing a year-over-year growth of 10%[141]. - The company reported a total revenue of 1.5 billion in 2022, representing a year-over-year growth of 15%[148]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.25 per 10 shares, totaling RMB 11,666,500.00, which represents 15.79% of the net profit attributable to shareholders for the year[5]. - The board has approved a dividend payout plan, targeting a total of 50 million in dividends for shareholders in 2023[141]. - The company maintains a cash dividend policy that aims for a minimum of 80% payout when in a mature stage without major capital expenditures[173]. Risk Management and Compliance - The company has not reported any significant risk events during the reporting period, ensuring a stable operational environment[10]. - There are no non-operational fund occupations by controlling shareholders or related parties[7]. - The company has not provided any guarantees in violation of regulatory decision-making procedures[8]. - The company emphasizes the importance of investor awareness regarding potential risks associated with forward-looking statements in the report[6]. - The company faces risks related to project delays due to complex construction processes and external factors, which could impact operational performance[124]. - Increased competition in the infrastructure construction market poses a risk, with numerous companies vying for contracts in the region[125]. - Fluctuations in raw material prices, such as cement and steel, could lead to increased construction costs, affecting overall profitability[127]. - The company has implemented price adjustment clauses in some contracts to mitigate risks from unexpected raw material price increases, although these measures may not fully offset cost increases[128]. - The company has established measures for measurement and collection management to address the high balances of accounts receivable and contract assets, despite facing potential impairment risks[129]. Governance and Management - The board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report[9]. - The company has conducted 1 annual general meeting and 2 extraordinary general meetings during the reporting period, reviewing a total of 33 proposals[133]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with legal requirements regarding board composition[135]. - The company held 9 board meetings and 4 audit committee meetings during the reporting period, demonstrating active governance practices[135]. - The company has enhanced investor relations management and information disclosure practices to ensure transparency and fairness for all shareholders[138]. - The company has maintained a consistent governance framework with regular board meetings to address key strategic decisions[156]. Market Expansion and Strategic Initiatives - The company plans to continue expanding its market presence and developing new technologies to enhance growth prospects[27]. - The company aims to expand its market presence in the Beijing-Tianjin-Hebei region and internationally, particularly through the "Belt and Road" initiative[113]. - The company is focusing on PPP projects, with significant investments in various infrastructure projects, including the New Airport Expressway[110]. - The company is expanding its market presence nationwide, having already entered provinces such as Shandong, Anhui, Inner Mongolia, and Shaanxi, with plans to further increase market share in underdeveloped areas[120]. - The company is exploring potential acquisitions to enhance its service offerings, with a focus on strategic partnerships[145]. Research and Development - The company has increased its intangible assets by ¥171,885,006.59 due to new project rights acquired during the year[27]. - Research and development expenses were CNY 596,861.67, related to two projects on new materials and construction techniques[63]. - The company plans to invest 100 million in R&D for new technologies over the next three years[141]. - The company will increase R&D investment in infrastructure engineering, aiming to enhance its technical capabilities and collaborate with universities for technological advancements[116]. Operational Performance - The net cash flow from operating activities for 2022 was ¥217,712,721.10, a significant recovery from a negative cash flow of ¥22,738,710.98 in 2021[25]. - The company reported a project completion rate of 94.51% for its engineering construction business[97]. - The company has ongoing projects with a total contract amount of RMB 43,499.28 million, achieving a completion rate of 94.44%[97]. - The company has established a strong position in the construction materials market, particularly in ready-mixed concrete, benefiting from the booming demand in the Xiong'an New Area[50]. Social Responsibility and Environmental Management - The company has made a total donation of 44.51 million yuan for public welfare projects, with 1.10 million yuan in cash and 43.41 million yuan in material donations[197]. - The company has invested 1,379.82 million yuan in environmental protection during the reporting period[191]. - The company has established an environmental management system that complies with GB/T24001-2016/ISO14001:2015 standards[195]. - The company has not taken any specific measures to reduce carbon emissions during the reporting period[196].

Financial Performance - The company's operating revenue for Q1 2023 was ¥453,084,423.87, representing a year-on-year increase of 116.17%[3] - The net profit attributable to shareholders was a loss of ¥21,916,800.77, with no applicable percentage change due to the nature of the loss[3] - The net cash flow from operating activities was a negative ¥90,883,423.72, with no applicable percentage change[3] - The basic and diluted earnings per share were both -¥0.05, indicating a reduction in losses compared to the previous year[3] - The weighted average return on net assets was -2.07%, reflecting a decrease in losses compared to the previous year[3] - The net profit for Q1 2023 was -21,625,042.37 RMB, compared to -35,638,731.14 RMB in Q1 2022, showing an improvement of approximately 39.3% year-over-year[14] - Operating profit for Q1 2023 was -21,075,231.50 RMB, an improvement from -37,778,851.54 RMB in the same period last year[14] - The total comprehensive income for Q1 2023 was -21,625,042.37 RMB, compared to -35,638,731.14 RMB in Q1 2022, reflecting a year-over-year improvement[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,290,707,044.40, a decrease of 1.06% compared to the end of the previous year[4] - Shareholders' equity attributable to the parent company was ¥1,049,761,730.83, down 2.16% from the previous year-end[4] - The company's total liabilities were RMB 4,186,411,652.31, down from RMB 4,226,026,042.25, indicating a decrease of about 0.9%[12] - The total current assets decreased to ¥3,376,345,072.77 as of March 31, 2023, down from ¥3,764,491,525.44 at the end of 2022, reflecting a decline of approximately 10.3%[22] - The total non-current assets increased to ¥1,012,367,609.70 in Q1 2023, up from ¥833,890,320.86 at the end of 2022, representing a growth of about 21.5%[22] - The total liabilities decreased to ¥3,446,745,499.34 in Q1 2023, down from ¥3,630,322,393.15 at the end of 2022, indicating a reduction of approximately 5.1%[23] Cash Flow - The cash flow from operating activities showed a net outflow of -90,883,423.72 RMB, an improvement from -274,344,169.17 RMB in Q1 2022[18] - The company reported cash and cash equivalents of 1,038,382,456.25 RMB at the end of Q1 2023, compared to 377,356,435.30 RMB at the end of Q1 2022, indicating a significant increase[19] - The cash inflow from operating activities was approximately $416.79 million, compared to $336.91 million in Q1 2022, representing an increase of about 23.7%[29] - The net cash flow from operating activities was negative $0.87 million in Q1 2023, an improvement from negative $219.75 million in Q1 2022[29] - The cash inflow from sales of goods and services was approximately $409.01 million in Q1 2023, compared to $331.97 million in Q1 2022, marking an increase of about 23.1%[29] Costs and Expenses - The total operating costs for Q1 2023 were RMB 420,856,200.34, compared to RMB 218,628,690.91 in Q1 2022, indicating an increase of about 92.5%[13] - The research and development expenses for Q1 2023 were RMB 206,216.57, indicating ongoing investment in innovation[13] - The cash outflow for employee compensation in Q1 2023 was $28.06 million, an increase of approximately 32.2% from $21.23 million in Q1 2022[29] Shareholder Information - The company has a total of 34,059 common shareholders at the end of the reporting period[8] - The company raised 5,825,900.70 RMB from minority shareholders during Q1 2023[19] Borrowings and Financing - The long-term borrowings increased to RMB 1,128,865,734.94 from RMB 892,687,633.94, representing an increase of approximately 26.5%[12] - The cash flow from financing activities showed a net inflow of 174,275,482.08 RMB, compared to 71,600,840.18 RMB in Q1 2022, indicating a positive trend[19] - The company received $95.18 million from borrowings in Q1 2023, a decrease of about 68% from $297.91 million in Q1 2022[30]

证券代码：603176 证券简称：汇通集团 公告编号：2023-011 汇通建设集团股份有限公司 关于召开 2022 年度业绩暨现金分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023 年 05 月 08 日(星期一) 下午 15:00- 16:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 26 日(星期三) 至 05 月 05 日(星期 五)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 htjsdshbgs@htlq.com.cn 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。 汇通建设集团股份有限公司（以下简称"公司"）将于 2023 年 4 月 26 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 05 ...

Financial Performance - The company's basic earnings per share (EPS) for the first half of 2022 was CNY 0.09, a decrease of 43.75% compared to CNY 0.16 in the same period last year[18]. - The diluted EPS also stood at CNY 0.09, reflecting the same 43.75% decline year-over-year[18]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 27.51% compared to the previous year, primarily due to increased losses from equity-accounted joint ventures[19]. - The weighted average return on equity (ROE) was 4.12%, down from 7.21% in the same period last year, representing a decrease of 3.09 percentage points[18]. - The return on equity, excluding non-recurring gains and losses, was 3.99%, also down from 7.06% year-over-year, indicating a decline of 3.07 percentage points[18]. - The company reported a significant increase in credit impairment losses, which were reversed in the previous year, impacting the current financial performance[19]. - The company's operating revenue for the first half of the year was approximately RMB 1.206 billion, representing a 7.91% increase compared to the same period last year[21]. - Net profit attributable to shareholders decreased by 26.67% to approximately RMB 40.29 million, down from RMB 54.94 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was approximately RMB 39.02 million, a decrease of 27.51% year-on-year[21]. - The net cash flow from operating activities was negative RMB 247.57 million, a significant decline compared to a positive RMB 6.53 million in the same period last year[21]. Assets and Liabilities - Total assets increased by 10.14% to approximately RMB 4.008 billion compared to the end of the previous year[21]. - The net assets attributable to shareholders rose by 2.92% to approximately RMB 982.92 million[21]. - The company's total liabilities include long-term loans of CNY 627.27 million, an increase of 84.99% compared to CNY 339.09 million in the previous period[40]. - The company's foreign assets amount to CNY 16.40 million, representing 0.41% of total assets[41]. - The company's total liabilities increased, with cash used for debt repayment reaching ¥292,288,332.50 in the first half of 2022, compared to ¥197,219,856.28 in the same period of 2021[144]. Market Position and Strategy - The company has a strong competitive advantage with a special-grade qualification for highway engineering construction, one of only 204 companies nationwide[27]. - The company is strategically located near Beijing and the Xiong'an New Area, benefiting from increased infrastructure investment in Hebei Province, which has a compound annual growth rate of 10.76% from 2015 to 2021[28]. - The company is actively expanding its market presence beyond Hebei, covering over ten provinces and cities across China[24]. - The company aims to expand its business in the "Belt and Road" international market and key domestic regions, including the Xiong'an New Area[34]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[134]. Environmental and Social Responsibility - The company has established an environmental protection management system compliant with GB/T24001-2016/ISO14001:2015 standards, covering various construction projects[69]. - The company has implemented measures to control dust, noise, and wastewater during construction to minimize environmental impact[70]. - The company has set up an environmental protection leadership group in each project department, with project managers responsible for environmental management[71]. - The company actively participated in rural revitalization by winning a PPP project in Anguo City in June 2022, contributing to new revenue growth[72]. Shareholder Commitments and Governance - The company has committed to not transferring or managing its shares for 36 months post-IPO, ensuring stability in shareholding[75]. - The company has established a system for regular environmental inspections and reporting to address any issues promptly during construction[71]. - The company will ensure that any share reduction after the lock-up period will not be below the IPO price[79]. - The company emphasizes strict adherence to regulations regarding shareholding and reduction plans to protect investor interests[78]. - The company has committed to a lock-up period of 12 months post-IPO, during which shareholders will not transfer or manage their shares[81]. Legal and Compliance Issues - The company is involved in five significant ongoing lawsuits with amounts exceeding RMB 1 million, including a construction contract dispute with the Yixian Transportation Bureau, claiming RMB 25.14 million for material price differences and RMB 4.69 million for work stoppage losses[98]. - The company has not reported any violations regarding guarantees during the reporting period[97]. - The company has outlined measures to address any non-compliance with fund occupation, including potential complaints to regulatory bodies[94]. Financial Reporting and Accounting Practices - The financial report for the first half of 2022 has not been audited, but the management has confirmed its accuracy and completeness[6]. - The company's financial reports are approved by the board of directors, ensuring compliance with regulatory requirements[164]. - The company has established important accounting policies and estimates in line with the enterprise accounting standards[169]. - The company’s financial reporting includes a comprehensive assessment of its accounting practices, ensuring transparency and adherence to relevant regulations[175].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 209,597,627.91, representing a decrease of 1.75% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 35,623,779.70, with a basic and diluted earnings per share of -0.08 CNY[5] - The net profit for Q1 2022 was -35,638,731.14 CNY, compared to -18,301,520.80 CNY in Q1 2021, representing an increase in net loss of approximately 94.5% year-over-year[21] - Operating profit for Q1 2022 was -37,778,851.54 CNY, a decline from -20,006,484.31 CNY in the same period last year, indicating a worsening operational performance[21] - The company's total comprehensive loss for Q1 2022 was -35,638,731.14 CNY, compared to -18,301,520.80 CNY in Q1 2021, highlighting a significant increase in overall losses[22] - The company's total revenue for Q1 2022 was CNY 137,815,520.73, a decrease of 27.2% compared to CNY 189,221,234.40 in Q1 2021[30] - The operating profit for Q1 2022 was a loss of CNY 41,289,109.34, compared to a loss of CNY 21,162,261.42 in Q1 2021[31] - The net profit for Q1 2022 was a loss of CNY 38,648,279.00, worsening from a loss of CNY 19,182,897.25 in Q1 2021[31] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 274,344,169.17, indicating significant cash outflows during the quarter[5] - Cash flow from operating activities showed a net outflow of -274,344,169.17 CNY in Q1 2022, compared to -165,898,246.31 CNY in Q1 2021, reflecting a significant increase in cash burn[24] - The cash flow from operating activities for Q1 2022 was a net outflow of CNY 219,754,304.38, compared to a net outflow of CNY 178,498,992.26 in Q1 2021[32] - The company reported a cash and cash equivalents balance of 377,356,435.30 CNY at the end of Q1 2022, down from 583,643,924.78 CNY at the beginning of the period[26] - The company's cash and cash equivalents decreased significantly, with cash inflow from operating activities dropping to CNY 336,907,276.94 in Q1 2022 from CNY 571,132,810.13 in Q1 2021[32] - The net increase in cash and cash equivalents was -190,780,196.48, indicating a decline compared to -76,092,698.65 previously[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,342,014,258.22, down 8.17% from the end of the previous year[6] - Current assets totaled RMB 2,300,017,430.00 as of March 31, 2022, down from RMB 2,567,101,423.11 at the end of 2021, a decline of 10.4%[16] - Non-current assets amounted to RMB 1,041,996,828.22 as of March 31, 2022, compared to RMB 1,072,306,969.46 at the end of 2021, a decrease of 2.8%[16] - Total liabilities were RMB 2,400,892,005.94 as of March 31, 2022, down from RMB 2,661,720,040.37, a reduction of 9.8%[16] - The total assets decreased to CNY 2,878,035,651.11 in Q1 2022 from CNY 3,180,595,081.43 in Q1 2021, reflecting a decline of 9.5%[29] - The total liabilities decreased to CNY 2,039,543,632.89 in Q1 2022 from CNY 2,302,527,415.43 in Q1 2021, a reduction of 11.4%[29] Shareholder Information - The company had 57,216 common shareholders at the end of the reporting period[10] - The top two shareholders, Zhang Zhongqiang and Zhang Zhongshan, each held 22.87% of the shares, totaling 106,716,666 shares[11] Financial Expenses and Investments - The company incurred financial expenses of 11,918,855.66 CNY in Q1 2022, up from 9,127,351.42 CNY in Q1 2021, indicating rising costs associated with financing[21] - The company reported a significant increase in financial expenses, with Q1 2022 financial expenses at CNY 11,032,599.61 compared to CNY 8,804,262.66 in Q1 2021[31] - Investment activities resulted in a net cash outflow of -3,522,365.70 CNY in Q1 2022, compared to -2,287,235.54 CNY in Q1 2021, reflecting increased investment expenditures[25] - The total cash outflow from investing activities was 9,425,459.76, with a significant portion attributed to investment payments[34] Other Financial Metrics - The weighted average return on net assets was -3.80% for the reporting period[6] - Non-recurring gains and losses totaled CNY 1,184,643.36, primarily due to government subsidies received[8] - The company reported an increase in credit impairment losses, contributing to the overall loss for the period[9] - The impact of exchange rate changes on cash and cash equivalents was -21,794.79, contrasting with a positive impact of 6,227.95 in the previous period[34] - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[30]