Financial Performance - The company reported total revenue of 2.118 billion yuan for the first half of 2025, a decrease of 5.06% year-on-year [1] - The net profit attributable to shareholders was 1.057 billion yuan, an increase of 23.58% year-on-year [1] - In Q2 2025, total revenue was 1.068 billion yuan, down 3.47% year-on-year, while net profit was 400 million yuan, down 8.07% year-on-year [1] - The gross margin increased by 0.24% to 68.2%, and the net margin increased by 33.36% to 67.98% [1] - Earnings per share rose to 0.51 yuan, a 24.39% increase year-on-year [1] Financial Ratios - The company's return on invested capital (ROIC) was 10.82%, indicating average capital returns [3] - The net profit margin was reported at 46.02%, reflecting high added value in products or services [3] - The company's cash assets are considered very healthy, with a debt-to-asset ratio of 33.07% [3] Shareholder Information - Major funds holding shares in the company include Zhongyou Core Growth Mixed A, which reduced its holdings, and Huabao Dividend Selected Mixed A, which entered the top ten holdings [4] - The largest fund holding is Zhongyou Core Growth Mixed A, with a scale of 2.609 billion yuan [4] Project Developments - The company has completed the Huizhou-Yanjiang Expressway expansion and is applying for a fee adjustment [5] - The Jiangzhong Expressway expansion has been completed and new fee standards have been executed since June 13, 2025 [5] - The Yuezhao Expressway expansion is scheduled for completion by the end of 2027, with fee adjustments to follow government approval [5]

Core Viewpoint - The company, Guangdong Expressway A, recently engaged in a specific investor survey with 23 institutions, discussing its operational status and project progress. Group 1: Company Operations - The company provided an overview of its financial data changes for the first half of 2025, including the operational status of its subsidiaries and ongoing expansion projects [1]. - The board secretary, Yang Hanming, highlighted the impact of the Shenzhen-Zhongshan Channel on traffic flow and toll revenue, noting a decrease in tolls for the Guangzhu East route but a stabilization in the decline [2]. Group 2: Traffic and Revenue Insights - Traffic volume for Guangzhu East and Guanghui Highways showed expected year-on-year changes, with Guanghui experiencing growth in both traffic and toll revenue [2]. - The company reported a higher-than-expected reduction in traffic volume for the Fokai Highway due to the influence of the Shenzhen-Zhongshan Channel and the opening of the Zhongkai Highway [2]. Group 3: Capital Expenditure and Project Management - The company’s recent capital expenditures primarily focus on the equity investments in the expansion projects of its highways, including Guangzhu East, Guanghui, and Yuezhao Highways [2]. - The company is implementing traffic organization plans to minimize the impact of construction on traffic flow during ongoing expansion projects [2].

Group 1: Financial Performance - The company reported significant changes in financial data for the first half of 2025, with specific focus on traffic volume and toll revenue across major routes [3] - The traffic volume for Guangzhu East and Guanghui Expressways showed expected year-on-year changes, with Guangzhu East experiencing a decline in toll revenue due to the diversion caused by the Shenzhen-Zhongshan Channel [3] - The traffic volume for Fokai Expressway decreased more than expected due to the impact of the Shenzhen-Zhongshan Channel and the opening of Zhongkai Expressway [3] Group 2: Capital Expenditure and Projects - The company's recent capital expenditures are primarily focused on the investment in the expansion projects of its controlled expressways, including Guangzhu East, Guanghui, and Yuezhang Expressways [3] - The company is committed to funding these projects according to their construction progress to meet financial requirements [3] Group 3: Impact of Infrastructure Changes - The company anticipates ongoing traffic diversion effects from the Shenzhen-Zhongshan Channel on Guangzhu East and Fokai Expressways throughout the year, with the extent of the impact to be monitored [3] - The company has implemented traffic management strategies to minimize the impact of construction on traffic flow during expansion projects [3]

Core Insights - The company reported a total revenue of 2.118 billion yuan, ranking 12th among disclosed peers [1] - The net profit attributable to shareholders was 1.057 billion yuan, ranking 5th among disclosed peers, representing an increase of 202 million yuan or 23.58% year-on-year [1] - The net cash inflow from operating activities was 1.898 billion yuan, ranking 4th among disclosed peers, with an increase of 294 million yuan or 18.36% year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 44.75%, a decrease of 0.56 percentage points compared to the same period last year [3] - The latest gross profit margin is 68.20%, ranking 2nd among disclosed peers, with an increase of 0.45 percentage points from the previous quarter and an increase of 0.16 percentage points year-on-year [3] - The latest return on equity (ROE) is 10.06%, ranking 1st among disclosed peers, with an increase of 1.18 percentage points year-on-year [3] Earnings Per Share - The diluted earnings per share (EPS) is 0.51 yuan, ranking 3rd among disclosed peers, with an increase of 0.10 yuan or 24.39% year-on-year [3] - The latest total asset turnover ratio is 0.09 times [3]

Group 1 - The company reported a revenue of approximately 2.118 billion yuan for the first half of 2025, representing a year-on-year decrease of 5.06% [1] - The net profit attributable to shareholders of the listed company was approximately 1.057 billion yuan, showing a year-on-year increase of 23.58% [1] - The basic earnings per share were 0.51 yuan, reflecting a year-on-year increase of 24.39% [1]

广东省高速公路发展股份有限公司 2 | 修订前 | 修订后 | | --- | --- | | 第十一条 本章程所称其他高级管理人员是指 | 第十四条 本章程所称高级管理人员是指公司 | | 公司的副总经理、总会计师、总经济师、总工程师、 | 的总经理、副总经理、总会计师、总经济师、总工 | | 总法律顾问、董事会秘书、内审负责人。 | 程师、总法律顾问、董事会秘书。 | | 第二章 经营宗旨和范围 | 第二章 经营宗旨和范围 | | 第十三条 公司经营宗旨:充分发挥股份制企 | 第十五条 公司经营宗旨：以高速公路交通基础设 | | 业优势，广泛筹集和利用各种资金进行投资和建设， | 施为根本依托，广泛筹集和利用社会资金进行投资 | | 加速广东省的经济发展，提高经济效益，并使全体 | 和建设，提高企业经济效益，助力广东省经济发展， | | 股东获得满意的投资回报。 | 并使全体股东获得满意的投资回报。 | | 第十四条 经依法登记，主营公司的经营范围： | | | | 第十六条 经依法登记，公司的经营范围：主营高 | | 主营高速公路、等级公路和桥梁的投资、建设、收 | 速公路、等级公路和桥梁的投资、建设、 ...

上市公司2025年1-6月非经营性资金占用及其他关联资金往来情况汇总表 信制单位。 | 有同单位: | | 占用方与上市公司的 | 上市公司核算的会计 | | 2025年1-6月在来 | | | | | 金额单位:人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 手空三十一日分 | | | | | | 025年1-6月在来最全的 | 2025年1-6月修区 | 2025年6月30日在 | 占用形成原因 | 占用性质 | | 现大股东及其對屬全 | | | | | | | | | | | | 小 2 | | -- | -- | 0.00 | 0.00 | 0. 00 | 0.00 | 0. 00 | -- | -- | | 前大股东及其附属企业 | | | | | | | | | | | | 小 H | | - | -- | 0.00 | 0.00 | 0. 00 | | | | | | प्र 计 | | -- | -- | 0.00 | 0.00 | 0. 00 | 0.00 0. 00 | 0.00 ...

广东省高速公路发展股份有限公司 2025 年半年度财务报告全文 广东省高速公路发展股份有限公司 2025 年半年度财务报告 2025 年 8 月 广东省高速公路发展股份有限公司 2025 年半年度财务报告全文 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：广东省高速公路发展股份有限公司 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 持有待售负债 | | | | 一年内到期的非流动负债 | 212,918,332.30 | 1,017,246,515.19 | | 其他流动负债 | 60,381.20 | 73,697.84 | | 流动负债合计 | 2,063,049,933.53 | 1,669,954,294.33 | | 非流动负债： | | | | 保险合同准备金 | | | | 长期借款 | 7,723,597,947.28 | 6,728,264,750.00 | | 应付债券 | | | | 其中：优先股 | | | | 永续债 | | | | 租赁负债 ...

广东省交通集团财务有限公司 2025年1-6月风险评估报告 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://ac.mot.gov.cn）"进行查查 ：" 广东省高速公路发展股份有限公司: 我们接受委托,审核了广东省交通集团财务有限公司(以下简称"交通集团 财务公司")管理层对截至 2025年6月 30 日与财务报表编制有关的风险管理制 度设计的合理性与执行的有效性做出的评价与认定。建立健全风险管理制度并保 持其有效性是交通集团财务公司管理当局的责任。我们的责任是对交通集团财务 公司与财务报表编制有关的风险管理制度的执行情况发表意见。 我们在审核过程中,实施了包括了解、测试和评价交通集团财务公司与财务 报表编制有关的风险管理制度设计的合理性和执行的有效性情况,以及我们认为 必要的其他程序。我们相信,我们的审核为发表意见提供了合理的基础。 风险管理具有固有限制,存在由于错误或舞弊而导致错报发生和未被发现的 可能性。此外,由于情况的变化可能导致风险管理变得不恰当,或降低对控制、 风险管理政策、程序遵循的程度,根据风险评估结果推测未来风险管理制度的有 效性具有一定的风险。根据对风险管理制度的了 ...

合并资产负债表 2025年6月30日 资产 附注 期末余额 上年年末余额 流动资产： 货币资金 五、（一） 5,797,033,176.02 4,289,826,663.22 交易性金融资产 衍生金融资产 应收票据 应收账款 五、（二） 96,247,498.30 82,361,054.69 应收款项融资 预付款项 五、（三） 5,944,423.66 3,732,159.00 应收资金集中管理款 其他应收款 五、（四） 262,587,885.66 148,857,119.34 存货 其中：数据资源 合同资产 持有待售资产 一年内到期的非流动资产 其他流动资产 五、（五） 7,599,526.71 6,167,340.16 流动资产合计 6,169,412,510.35 4,530,944,336.41 非流动资产： 债权投资 其他债权投资 长期应收款 长期股权投资 五、（六） 4,218,884,448.22 3,332,350,008.84 其他权益工具投资 五、（七） 1,034,304,910.44 1,768,953,885.85 其他非流动金融资产 五、（八） 186,494,177.20 18 ...