证券代码：000755 证券简称：山西路桥 公告编号：2022—22 山西路桥股份有限公司 关于参加"山西辖区上市公司 2022 年投资者网上 集体接待日暨年报业绩说明会"活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，便于广大投资者更全面 地了解公司治理、发展战略、经营状况和可持续发展等投资者关 心关注的问题，山西路桥股份有限公司定于 2022 年 6 月 23 日（周 四）15:00-16:30 参加在全景网举办的"真诚沟通 传递价值" 山西辖区上市公司 2022 年投资者网上集体接待日暨年报业绩说 明会活动，现将有关事项公告如下： 1.活动时间：2022 年 6 月 23 日（周四）15:00-16:30。 2.活动方式：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"（http://rs.p5w.net）参与本次互动交 流。 3.参加人员：公司总经理、财务总监、董事会秘书及相关部 门负责人。 欢迎广大投资者积极参与。 特此公告 山西路桥股份有限公司董事会 2022年6月17日 ...

Financial Performance - The company's operating revenue for Q1 2022 was ¥345,304,137.31, a decrease of 6.94% compared to the adjusted revenue of ¥371,073,175.14 in the same period last year[2] - Net profit attributable to shareholders for Q1 2022 was ¥96,186,716.38, representing an increase of 2.86% from the adjusted net profit of ¥93,508,651.97 in the previous year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 136.17% year-on-year, amounting to ¥95,864,168.47[5] - Total operating revenue for Q1 2022 was 125,698,213.14 CNY, an increase from 111,981,728.83 CNY in Q1 2021, representing a growth of approximately 11.5%[13] - Net profit for Q1 2022 reached 96,186,716.38 CNY, compared to 93,508,651.97 CNY in the same period last year, showing an increase of about 2.9%[14] Cash Flow and Liquidity - The net cash flow from operating activities for Q1 2022 was ¥301,132,594.76, showing a slight decrease of 0.33% compared to the adjusted figure of ¥302,138,877.93 from the previous year[2] - Cash and cash equivalents increased to CNY 985,389,794.74 from CNY 763,024,141.56, representing a growth of about 29.2%[10] - Cash and cash equivalents at the end of Q1 2022 totaled 985,389,294.74 CNY, compared to 1,323,776,687.97 CNY at the end of Q1 2021, indicating a decrease of approximately 25.6%[18] - The total cash outflow from financing activities in Q1 2022 was 74,615,932.67 CNY, down from 104,020,069.45 CNY in Q1 2021, indicating a decrease of about 28.3%[18] Assets and Liabilities - The total assets of the company at the end of Q1 2022 were ¥13,517,885,013.66, reflecting a 0.59% increase from ¥13,438,620,155.08 at the end of the previous year[3] - Total current assets rose to CNY 1,101,611,227.56, up from CNY 903,275,136.12, indicating an increase of around 22%[10] - Total liabilities decreased to CNY 9,319,086,438.73 from CNY 9,336,008,296.53, a reduction of approximately 0.2%[12] Shareholder Equity - The equity attributable to shareholders increased by 2.34% to ¥4,198,798,574.93 compared to ¥4,102,611,858.55 at the end of the previous year[3] - The company's equity attributable to shareholders increased to CNY 4,198,798,574.93 from CNY 4,102,611,858.55, showing a growth of about 2.3%[12] Earnings and Expenses - The basic earnings per share for Q1 2022 was ¥0.0656, a decrease of 6.95% from ¥0.0705 in the same period last year[2] - The weighted average return on net assets for Q1 2022 was 2.32%, down from 2.86% at the end of the previous year[3] - The company reported a total operating cost of 219,746,219.47 CNY in Q1 2022, down from 259,223,876.40 CNY in Q1 2021, reflecting a reduction of about 15.2%[13] - Financial expenses decreased to 77,034,399.23 CNY in Q1 2022 from 105,731,261.39 CNY in Q1 2021, a decline of approximately 27.3%[13] - The company incurred tax expenses of 29,759,335.62 CNY in Q1 2022, compared to 17,151,793.90 CNY in Q1 2021, an increase of approximately 73.5%[13] Other Information - The company received government subsidies amounting to ¥122,428.14 during the reporting period[6] - The total number of ordinary shareholders at the end of the reporting period was 33,621[9] - Accounts receivable decreased to CNY 104,470,788.35 from CNY 128,698,739.87, a decline of approximately 18.8%[10] - Inventory increased to CNY 1,134,033.48 from CNY 1,044,446.66, an increase of approximately 8.6%[10] - Short-term borrowings were not reported, indicating a potential focus on maintaining liquidity[12] - The company reported a net loss of CNY 340,568,518.24, an improvement from a loss of CNY 436,755,234.62 in the previous period[12] - The company reported other income of 140,295.30 CNY in Q1 2022, slightly up from 132,430.09 CNY in Q1 2021, an increase of approximately 5.0%[13]

Acquisition and Restructuring - The company completed the acquisition of 100% equity in Shanxi Pingyu Expressway Co., Ltd. through a share issuance in August 2021[21]. - The controlling shareholder changed to Shanxi Provincial Expressway Group Co., Ltd. after the acquisition, holding 857,266,275 shares[21]. - The company completed the acquisition of 100% equity in Pingyu Expressway during the reporting period, leading to adjustments in financial data[30]. - The asset restructuring completed in 2021 included the acquisition of 100% equity in Shanxi Pingyu Highway Co., significantly expanding the company's operational scale[49]. - The company completed the asset purchase through share issuance for Shanxi Pingyu Expressway Co., Ltd., with no issues encountered during the integration[147]. - The company completed the acquisition of 100% equity in Shanxi Pingyu Expressway Co., Ltd. by issuing 857 million shares, with the transaction approved by the China Securities Regulatory Commission on July 2, 2021[198]. Financial Performance - The company's operating revenue for 2021 was ¥1,661,525,547.70, representing a 52.67% increase compared to the adjusted revenue of ¥1,088,312,667.72 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥406,031,378.26, a significant increase of 403.49% from the adjusted net profit of -¥133,788,899.20 in 2020[25]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥268,891,895.61, an increase of 839.38% compared to -¥36,366,970.46 in 2020[25]. - The total assets at the end of 2021 were ¥13,438,620,155.08, a decrease of 7.03% from the adjusted total assets of ¥14,454,481,414.40 at the end of 2020[25]. - The net assets attributable to shareholders at the end of 2021 were ¥4,102,611,858.55, an increase of 27.35% from the adjusted net assets of ¥3,221,583,199.59 at the end of 2020[25]. - The company reported a basic earnings per share of ¥0.2982 for 2021, a 395.54% increase from -¥0.1009 in 2020[25]. - The company achieved a net profit of 250,306,057.48 yuan after deducting non-recurring gains and losses, fulfilling its performance commitment[200]. Revenue Sources and Operations - The revenue from highway toll operations accounted for 98.78% of total revenue, amounting to ¥1,641,332,003.72, which is a 55.84% increase from ¥1,053,197,768.90 in the previous year[44]. - The company's operating costs for the highway toll industry were ¥728,114,265.04, reflecting a slight increase of 2.54% from ¥710,044,825.26 in 2020[48]. - The company operates a total of 162.254 kilometers of toll roads, primarily through its wholly-owned subsidiaries[37]. - The company is focusing on expanding its operations beyond its home province to enhance sustainable development in the face of regional market saturation[36]. - The company achieved a toll revenue target through enhanced marketing efforts and operational audits, successfully completing its revenue goals for the year[85]. Risk Management and Governance - The company emphasizes the importance of risk awareness regarding future plans and goals[4]. - The company has strengthened its risk management capabilities, ensuring no production or traffic safety accidents occurred throughout the year[41]. - The company faces risks from macroeconomic fluctuations, policy changes, and natural disasters, which could impact toll revenue and operational performance[89]. - Measures to mitigate risks include improving service quality, advancing smart highway construction, and enhancing emergency response plans[90]. - The company has established a long-term mechanism to prevent the controlling shareholder and related parties from occupying company funds, which was approved in the board meeting on April 27, 2021[155]. Investor Relations and Transparency - The company has established a dedicated email for investor relations inquiries[17]. - The company has actively engaged in investor relations management, providing accurate and timely information disclosure through various channels[101]. - The company guarantees to return any occupied funds within 30 days and will compensate at three times the prevailing bank loan interest rate for the actual days of occupation[178]. - The company is focused on maintaining transparency and fulfilling information disclosure obligations in all related transactions[200]. Environmental and Social Responsibility - The company has not faced any administrative penalties due to environmental issues during the reporting period[158]. - The company completed the renovation of the sewage system in its service areas by November 2019, ensuring compliance with environmental standards[159]. - The company has implemented measures to reduce environmental noise impact on nearby residents by installing sound barriers along sensitive points near highways[159]. - The company has engaged in various community service activities, including donations totaling CNY 14,450[169]. - The company has focused on environmental protection by addressing issues along highway routes, aiming for a "garbage-free road"[167]. Management and Compensation - The total pre-tax remuneration for senior management was 258.92 million CNY for the reporting period[124]. - The remuneration for the vice chairman and general manager, Li Wujun, was 38.24 million CNY[124]. - The independent directors received a remuneration of 6 million CNY each[124]. - The company established a new compensation management method for senior management on January 22, 2021[123]. - The independent director's allowance was increased from 3,000 CNY/month to 5,000 CNY/month[123]. Future Plans and Strategic Focus - Future development goals include becoming a leading comprehensive transportation listed company in China, emphasizing technological innovation and capital operation[87]. - The company plans to continue expanding its highway network and enhancing service quality through strategic capital operations and management improvements[38]. - The company plans to invest 300 million RMB in infrastructure upgrades over the next three years to support growth initiatives[120]. - The company is planning to expand its market presence in the southern regions of China, targeting a 25% increase in market share by 2023[120]. - The company has completed a strategic acquisition of a local construction firm for 200 million RMB, aimed at enhancing its project capabilities[120].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 424,401,835.10, representing a 13.59% increase compared to the same period last year (CNY 373,619,079.82) after adjustments[5] - The net profit attributable to shareholders for Q3 2021 was CNY 98,430,791.15, a decrease of 16.88% from the adjusted figure of CNY 118,415,113.60 in the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 75,931,873.80, reflecting a 27.45% increase compared to the previous year's adjusted figure of CNY 59,578,611.52[5] - The company's basic earnings per share for Q3 2021 was CNY 0.0742, down 16.91% from CNY 0.0893 in the previous year[5] - The company's total operating income for the year-to-date reached CNY 1,223,291,649.17, a 94.39% increase from CNY 629,308,692.78 in the same period last year[8] - The company's operating profit for Q3 2021 was CNY 397,392,950.30, a substantial increase of 280.89% compared to the loss of CNY 219,685,091.74 in the previous year[8] - Net profit for the current period was ¥337,109,438.16, recovering from a net loss of ¥189,751,250.76 in the previous period[19] - Earnings per share (EPS) for the current period was ¥0.2541, compared to a loss per share of ¥0.1430 in the previous period[22] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was CNY 1,002,397,036.25, a significant increase of 140.28% compared to CNY 417,173,447.42 in the same period last year[5] - The net cash flow from operating activities for Q3 2021 was ¥1,002,397,036.25, a significant increase from ¥417,173,447.42 in Q3 2020, representing a growth of approximately 140%[25] - The total cash inflow from financing activities reached ¥9,097,156,839.00, compared to ¥100,000,000.00 in the same period last year, indicating a substantial increase in financing efforts[25] - The cash and cash equivalents at the end of Q3 2021 amounted to ¥2,089,180,294.54, up from ¥404,409,035.79 at the end of Q3 2020, reflecting a strong liquidity position[26] - The total cash outflow from operating activities was ¥321,612,948.73, down from ¥483,374,975.21 in the previous year, indicating improved operational efficiency[25] Assets and Liabilities - The total assets as of September 30, 2021, were CNY 14,958,696,924.71, showing a 3.49% increase from the previous year-end[5] - The company's total assets as of September 30, 2021, amount to approximately CNY 14.96 billion, an increase from CNY 14.45 billion at the end of 2020[15] - Total liabilities decreased to ¥10,924,866,226.96 from ¥11,232,898,214.81, reflecting a reduction of approximately 2.7%[17] - The equity attributable to shareholders increased by 25.21% to CNY 4,033,830,697.75 compared to the previous year-end[5] - Total equity attributable to shareholders increased to ¥4,033,830,697.75 from ¥3,221,583,199.59, marking an increase of about 25.2%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 32,936[9] - The largest shareholder, Shanxi Provincial Highway Group Co., Ltd., holds 64.62% of the shares, totaling 857,266,275 shares[9] - The total number of shares after the completion of the asset acquisition and fundraising is 1,467,310,196 shares[13] Operational Efficiency - The company's inventory decreased to CNY 875,915.14 from CNY 1,336,960.07 year-over-year[15] - The company's accounts receivable decreased to CNY 198,373,674.15 from CNY 242,147,767.22 year-over-year[14] - The company reported a decrease in employee compensation payable from CNY 19,014,027.00 to CNY 9,643,536.23 year-over-year[15] - The cash outflow for purchasing goods and services was ¥73,595,315.96, slightly higher than ¥71,058,087.19 in Q3 2020, reflecting stable operational costs[25] - The cash outflow for employee compensation increased to ¥63,150,580.70 from ¥53,937,144.00, indicating a rise in workforce costs[25] - The cash outflow for taxes paid was ¥44,093,499.02, a decrease from ¥52,443,508.03, suggesting improved tax efficiency[25] Strategic Initiatives - The company has completed the acquisition of Pingyu Expressway Company, which is now a wholly-owned subsidiary[13] - The company plans to expand its market presence and explore potential mergers and acquisitions to drive future growth[19] - Research and development expenses were not explicitly detailed, but management indicated a focus on innovation and new product development in future strategies[19] - The company reported a decrease in financial expenses, with interest expenses at ¥306,880,940.66, down from ¥369,616,426.62 in the previous period, suggesting improved cost management[19] Government Support - The company reported a significant increase in government subsidies, totaling CNY 141,920.76 for the current period, contributing to overall financial performance[6]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥428,217,811.16, representing a 162.50% increase compared to ¥163,130,165.19 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached ¥105,772,964.82, a significant turnaround from a loss of ¥146,515,747.16 in the previous year, marking a 172.19% increase[23]. - Basic earnings per share were ¥0.2254, compared to a loss of ¥0.3122 per share in the same period last year, reflecting a 172.20% improvement[23]. - The total profit for the first half of 2021 was ¥123,863,462.73, compared to a loss of ¥146,481,729.62 in the first half of 2020, indicating a significant recovery[180]. - The company reported a significant increase in investment income, with a total of ¥399,024,845.41 in the first half of 2021, compared to no reported income in the same period of 2020[185]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥266,420,620.65, up 295.30% from ¥67,397,766.54 in the same period last year[23]. - Total cash inflow from operating activities was CNY 456,548,315.63, while cash outflow was CNY 190,127,694.98, resulting in a net cash inflow of CNY 266,420,620.65[187]. - Cash flow from financing activities showed a net outflow of CNY 268,634,875.89, compared to a net outflow of CNY 256,272,383.01 in the previous period, indicating a slight increase in cash outflow[188]. - Cash and cash equivalents at the end of the period were CNY 315,980,729.57, a decrease from CNY 318,410,256.81 at the beginning of the period[188]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,978,877,675.13, a decrease of 1.91% from ¥8,134,365,317.32 at the end of the previous year[23]. - The company’s total liabilities decreased from CNY 6,969,479,265.39 to CNY 6,708,218,658.38, a reduction of approximately 3.74%[174]. - The company’s long-term borrowings amounted to ¥4,416,770,000.00, representing 55.36% of total liabilities, an increase from 53.14% in the previous year[39]. Operational Highlights - The company’s total toll road operating mileage increased from 79.188 kilometers to 162.254 kilometers following the acquisition of Pingyu Company, which operates an additional 83.066 kilometers of highway[29]. - The revenue from toll road concession projects reached ¥419,872,699.29, accounting for 98.05% of total operating revenue, with a year-on-year growth of 187.82%[34]. - The operating costs increased by 3.72% to ¥164,335,347.56, while the gross profit margin improved to 61.62% from 58.75% in the previous year[37]. Corporate Governance and Compliance - The company has committed to reducing and regulating related party transactions, ensuring fair pricing and compliance with legal procedures[74]. - The company guarantees that all information provided during the restructuring is true, accurate, and complete, with no false records or misleading statements[81]. - The company has not faced any administrative or criminal penalties related to the securities market in the last five years, ensuring a clean compliance record[86]. Future Plans and Strategies - The company plans to enhance its asset securitization rate and integrate highway assets in Shanxi province to improve sustainable development and risk resistance capabilities[30]. - The company plans to enhance service quality and operational management in line with national development goals towards high-quality growth[52]. - The company aims to accelerate the construction of smart highways to enhance its core competitiveness[53]. Risks and Challenges - The company has outlined potential risks and countermeasures in its report, urging investors to remain aware of these risks[5]. - The company is implementing measures to prevent and respond to natural disaster risks, including regular inspections and emergency response plans[53]. - The company emphasizes the importance of ongoing pandemic prevention and safety production measures[53].

证券代码：000755 证券简称：山西路桥 公告编号：2021—50 山西路桥股份有限公司 关于参加"山西辖区上市公司 2021 年度投资者网上 集体接待日暨年报业绩说明会"活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为加强与广大投资者的沟通交流，便于广大投资者更深入全面地 了解公司治理、发展战略、经营状况和可持续发展等投资者关注的问 题，山西路桥股份有限公司（以下简称"公司"）将于 2021 年 6 月 22 日参加"山西辖区上市公司 2021 年度投资者网上集体接待日暨年 报业绩说明会"活动，现将有关事项公告如下： 1、活动时间：2021 年 6 月 22 日（星期二）15：00-17：00。 2、活动方式：本次活动将采用网络远程的方式举行，投资者可 登录"全景•路演天下"（http://rs.p5w.net）参与本次互动交流。 3、参加人员：公司总经理、董事会秘书、财务总监及相关部门 负责人。 欢迎广大投资者积极参与。 特此公告 山西路桥股份有限公司董事会 2021年6月17日 ...

Financial Performance - The company's operating revenue for 2020 was ¥635,063,398.55, a decrease of 28.19% compared to ¥884,393,996.72 in 2019[22]. - The net profit attributable to shareholders for 2020 was -¥50,416,584.23, representing a decline of 133.65% from ¥149,824,101.50 in 2019[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥36,366,970.46, a decrease of 123.15% compared to ¥157,099,783.06 in 2019[22]. - The total assets at the end of 2020 were ¥8,134,365,317.32, a decrease of 4.89% from ¥8,552,836,246.28 at the end of 2019[22]. - The net assets attributable to shareholders at the end of 2020 were ¥1,164,886,051.93, down 4.15% from ¥1,215,302,636.16 at the end of 2019[22]. - The company reported a significant increase of 144.93% in inventory, attributed to an increase in maintenance materials in 2020[36]. - The revenue from the highway toll business accounted for 100% of total operating revenue, with a significant drop of 29.00% in the highway toll project revenue, which was ¥602.51 million[48]. - The company reported a net profit attributable to shareholders of -50.42 million yuan for the year 2020, with a parent company net profit of -44.68 million yuan, resulting in a total distributable profit of -106.02 million yuan[101]. Shareholder Information - The company reported a total of 469,264,621 shares as the basis for profit distribution, with a cash dividend of 0 per 10 shares and no bonus shares issued[6]. - The company has not distributed any cash dividends in the last three years, with a net profit of -50,416,584.23 CNY in 2020, resulting in a cash dividend ratio of 0.00%[97]. - The company proposed no profit distribution or capital reserve transfer to share capital for 2020 due to negative distributable profits[97]. - The total cash dividend amount, including other methods, is 0 yuan, representing 0% of the total profit distribution[101]. - The total number of shares remains at 469,264,621, with no changes in shareholder structure reported[196]. Asset Restructuring - The company is actively promoting a major asset restructuring, pending approval from the China Securities Regulatory Commission, with uncertainties regarding the approval outcome[4]. - The company has committed to inject 100% equity of Shanxi Luqiao Group Yuhe Expressway Co., Ltd. into the listed company within 36 months after the completion of the plan[105]. - The company is currently planning to issue shares to purchase 100% equity of Pingyu Expressway Co., Ltd. held by Shanxi Expressway Group and raise matching funds, which is under review by the China Securities Regulatory Commission[105]. - The company has committed to resolving non-operating fund occupation issues related to major asset restructuring before the submission of materials to the China Securities Regulatory Commission[129]. - The company has committed to providing accurate and complete information regarding the restructuring process, ensuring no false records or misleading statements exist[121]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[5]. - The company recognizes risks associated with macroeconomic fluctuations that could impact toll revenue and overall performance[82]. - The company is focused on building a first-class comprehensive transportation company through technological innovation and capital operation[79]. - The company is navigating a changing policy environment that could impact the highway industry and its revenue streams[83]. - The company has committed to avoiding competition with its controlling entities and ensuring the independence of the listed company[126]. Legal and Compliance Issues - The company has faced various contract disputes, with total claims amounting to over 6 million yuan in several cases[149][151]. - The company has successfully concluded several legal cases, with no financial liability in most instances, as per court rulings[149][151]. - The company was ordered to pay a penalty of 30 million yuan and legal fees of 500,000 yuan due to a contract dispute with Xingtai Xuyang Coal Chemical Co., Ltd.[148]. - The company has no significant accounting errors that require retrospective restatement during the reporting period[140]. - The company has not been involved in insider trading investigations or faced penalties from the China Securities Regulatory Commission in the last five years[123]. Operational Highlights - The company operates a total of 79.188 kilometers of toll highways, primarily managed by its wholly-owned subsidiary[35]. - The company has implemented various marketing strategies, resulting in an additional revenue of nearly ¥100,000 from 75 trucks using the highway[41]. - The company improved its road quality index (PQI) from 90.99 to 93.18, indicating enhanced road conditions[41]. - The company has established a mechanism for ongoing pandemic prevention and control, ensuring strict adherence to health protocols[91]. - The company maintained a "zero accident" record throughout the year, completing safety enhancement projects and conducting safety inspections without any significant safety incidents[184]. Future Outlook - The company plans to enhance its competitive edge through capital operations and mergers, aiming to integrate highway assets in Shanxi province[37]. - The company aims to enhance asset securitization capabilities as a key focus for 2021, leveraging its status as a listed company to actively participate in capital markets[80]. - The company plans to implement cost reduction and efficiency improvement initiatives, targeting a comprehensive enhancement of core competitiveness[80]. - The company is committed to improving safety management quality and aims to create a "zero accident" environment through robust safety production management systems[80]. - The company is actively seeking to expand revenue channels through customized services and partnerships with local attractions[90].

Financial Performance - The company's operating revenue for Q1 2021 was ¥195,950,646.64, representing a 527.29% increase compared to ¥31,237,724.78 in the same period last year[7] - Net profit attributable to shareholders was ¥39,306,346.27, a 132.03% increase from a loss of ¥122,704,234.67 in the previous year[7] - The net cash flow from operating activities reached ¥111,984,152.06, up 446.89% from ¥20,476,559.27 in the same period last year[7] - Basic earnings per share were ¥0.0838, compared to a loss of ¥0.2615 per share in the same period last year, marking a 132.03% improvement[7] - The weighted average return on equity was 3.32%, a significant increase from -10.63% in the same period last year[7] - Total operating revenue for Q1 2021 reached ¥195,950,646.64, a significant increase from ¥31,237,724.78 in the same period last year, representing a growth of approximately 526.5%[41] - Operating costs for Q1 2021 were ¥146,672,970.02, down from ¥153,943,249.70 in the previous year, indicating a decrease of about 4.7%[42] - The net profit for Q1 2021 was ¥39,306,346.27, a turnaround from a net loss of ¥122,704,234.67 in the same period last year[44] - Basic and diluted earnings per share for Q1 2021 were both ¥0.0838, compared to a loss of ¥0.2615 per share in the previous year[44] Asset and Liability Overview - Total assets at the end of the reporting period were ¥8,093,413,626.31, a slight decrease of 0.50% from ¥8,134,365,317.32 at the end of the previous year[7] - The company's total assets amounted to CNY 8,093,413,626.31, a slight decrease from CNY 8,134,365,317.32 at the end of 2020[32] - The company's total liabilities decreased to CNY 6,889,221,228.11 from CNY 6,969,479,265.39, a reduction of approximately 1.2%[35] - Total liabilities as of March 31, 2021, were ¥944,554,135.02, down from ¥960,619,642.50 at the end of 2020, reflecting a reduction of approximately 1.6%[39] - The company's current liabilities totaled CNY 2,196,453,170.27, down from CNY 2,244,846,961.18, a decrease of approximately 2.2%[35] - The company's long-term borrowings slightly decreased to CNY 4,297,388,511.50 from CNY 4,322,388,511.50, a reduction of about 0.6%[35] Cash Flow Analysis - The company's cash and cash equivalents increased to CNY 374,193,442.43 from CNY 318,710,256.81, reflecting a growth of approximately 17.4%[32] - The company reported cash outflows from financing activities of ¥56,450,694.44, down from ¥61,038,131.95 in the previous period[53] - The net increase in cash and cash equivalents for the period was -7,154,147.42 thousand, down from -537,121.51 thousand in the previous period[55] - The ending balance of cash and cash equivalents was 34,574,174.38 thousand, a decrease from the beginning balance of 41,728,321.80 thousand[55] - Cash flow from operating activities generated a net inflow of ¥111,984,152.06, significantly up from ¥20,476,559.27 in the prior year[52] - The company recorded cash inflows from operating activities of ¥228,927,144.40, compared to ¥92,063,776.87 in the previous year, marking a significant increase[51] Shareholder and Equity Information - The company's equity attributable to shareholders increased to CNY 1,204,192,398.20 from CNY 1,164,886,051.93, representing an increase of about 3.4%[36] - The total equity attributable to shareholders was ¥755,624,958.84 as of March 31, 2021, down from ¥762,847,861.62 at the end of 2020[39] Non-Recurring Items and Other Notes - The company reported non-recurring losses of ¥1,368,451.13 during the period[7] - There were no significant changes in the shareholding structure or any related party transactions during the reporting period[17] - The company has no reported securities or derivative investments during the reporting period[22][23] - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[28] - The first quarter report was not audited[56]

Financial Performance - Operating revenue for the reporting period was ¥218,882,116.72, representing a decline of 42.52% year-on-year[7]. - Net profit attributable to shareholders was ¥58,118,144.79, a decrease of 179.35% compared to the same period last year[7]. - The significant decrease in revenue and profit was primarily due to the impact of the COVID-19 pandemic, which led to a suspension of toll fees from February 17 to May 6, 2020[18]. - The company reported a net profit excluding non-recurring gains and losses of ¥59,578,611.52, a decrease of 171.93% year-on-year[7]. - Total revenue for the current period is 382,012,281.91, down from 664,611,383.89, a decrease of approximately 42.5%[46]. - Net profit for the current period is -88,397,602.37, compared to 111,405,233.53 in the previous period, indicating a significant loss[47]. - The total comprehensive income attributable to the parent company was -88,397,602.37 CNY, compared to 111,405,233.53 CNY in the previous period[48]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥8,251,596,726.65, a decrease of 3.52% compared to the end of the previous year[7]. - Total assets as of September 30, 2020, were ¥8,251,596,726.65, down from ¥8,552,836,246.28 at the end of 2019, reflecting a decrease of about 3.5%[29]. - Total liabilities decreased to ¥7,124,691,692.86 from ¥7,337,533,610.12, which is a reduction of approximately 2.9%[32]. - The company's non-current liabilities decreased to ¥5,005,996,894.59 from ¥5,165,977,123.22, indicating a decline of about 3.1%[32]. - The total liabilities decreased to CNY 941,273,165.01 from CNY 956,157,784.06, reflecting a decline of approximately 1.6%[36]. - Owner's equity totaled CNY 807,531,295.00, with retained earnings showing a deficit of CNY 1,015,489,211.57[66]. Cash Flow - The net cash flow from operating activities was ¥161,036,771.70, down 48.56% year-on-year[7]. - Cash and cash equivalents at the end of the period were ¥151,520.40, significantly lower than ¥247,959,583.50 at the end of the previous period[56]. - Cash outflow from operating activities totaled ¥4,261,541.20, down 88.3% from ¥36,506,557.89 in the previous period[56]. - Net cash flow from operating activities was -¥441,323.53, compared to -¥24,778,027.21 in the previous period, indicating an improvement[56]. - Cash outflow from financing activities was -314,662,633.02 CNY, compared to -388,229,876.81 CNY in the previous period[54]. Shareholder Information - The top shareholder, Shanxi Road and Bridge Construction Group Co., Ltd., holds 27.79% of the shares[9]. - The company did not engage in any repurchase transactions during the reporting period[13]. Investments and Acquisitions - The company is planning to acquire Shanxi Pingyu Expressway Co., Ltd. by issuing shares to purchase assets from Shanxi Provincial Highway Group Co., Ltd.[19]. - The company reported no significant changes in its financial investments or derivative investments during the reporting period[20][22]. - The company has not engaged in any trust investment activities during the reporting period[23]. Operational Metrics - Basic earnings per share were ¥0.1238, an increase of 90.46% compared to the previous period[7]. - The weighted average return on net assets was 4.96%, a decrease of 17.66% year-on-year[7]. - Operating profit increased to CNY 59,578,611.52, up from CNY 36,541,187.54, indicating a growth of 62.9% year-over-year[37]. - Management expenses decreased to 10,266,396.34 from 20,767,531.20, a decline of approximately 50.7%[47]. Changes in Accounting Standards - The company implemented new revenue and leasing standards starting January 1, 2020, requiring adjustments to the financial statements[57]. - The company has adopted new revenue and leasing standards effective January 1, 2020, impacting financial reporting[67].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥163,130,165.19, a decrease of 63.11% compared to ¥442,151,130.85 in the same period last year[20]. - The net profit attributable to shareholders was -¥146,515,747.16, representing a decline of 281.09% from ¥80,906,847.51 in the previous year[20]. - The net cash flow from operating activities was ¥67,397,766.54, down 74.71% from ¥266,449,338.52 in the same period last year[20]. - The total assets at the end of the reporting period were ¥8,293,633,477.86, a decrease of 3.03% from ¥8,552,836,246.28 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 12.06% to ¥1,068,786,889.00 from ¥1,215,302,636.16 at the end of the previous year[20]. - The basic and diluted earnings per share were both -¥0.3122, compared to ¥0.1724 in the same period last year, reflecting a decline of 281.09%[20]. - The company reported non-recurring losses totaling -¥1,110,609.51 during the reporting period[24]. - The company's cash and cash equivalents decreased by CNY 190,230,648.91, a decline of 26.73% compared to the previous year[36]. - Total operating revenue for the first half of 2020 was CNY 163,130,165.19, a decrease of 63.11% compared to the same period last year, largely due to the exemption of toll fees during the COVID-19 pandemic[36]. - Toll revenue accounted for CNY 145,878,466.92, which is 89.42% of total operating revenue, reflecting a year-on-year decline of 65.57%[38]. - The company's operating costs were CNY 158,448,803.09, down 4.44% from the previous year[36]. - The company reported a significant reduction in income tax expenses, down 99.76% to CNY 34,017.54, attributed to the toll fee exemption during the pandemic[36]. - The company reported a net loss of CNY 855,513,460.84, compared to a loss of CNY 708,997,713.68 in the previous period, indicating a worsening of approximately 20.7%[168]. - The total comprehensive income for the period was -146,515,747.16, showing a significant loss compared to the previous period[193]. Assets and Liabilities - The company's long-term borrowings stood at CNY 4,495,122,360.60, accounting for 54.20% of total liabilities, showing a slight increase from the previous year[41]. - The proportion of cash and cash equivalents to total assets decreased by 3.74% to 3.55%[41]. - As of June 30, 2020, the company's total assets amounted to CNY 8,293,633,477.86, a decrease from CNY 8,552,836,246.28 at the end of 2019, representing a decline of approximately 3.02%[168]. - The company's current assets totaled CNY 484,321,004.16, down from CNY 605,984,358.82 at the end of 2019, indicating a decrease of about 20.06%[166]. - The company's total liabilities were CNY 7,224,846,588.86, slightly down from CNY 7,337,533,610.12, a decrease of approximately 1.54%[168]. - The equity attributable to the parent company decreased to CNY 1,068,786,889.00 from CNY 1,215,302,636.16, a decline of about 12.1%[168]. Operational Challenges - The ongoing COVID-19 pandemic has led to a suspension of toll fees since February 17, 2020, significantly affecting the company's revenue[56]. - The company faces risks related to macroeconomic fluctuations, which could impact toll revenue and overall performance[55]. - The company is subject to regulatory risks regarding toll pricing, which is determined by government authorities[56]. - The company is actively pursuing the injection of additional highway assets, with relevant parties working according to plan[35]. - The company is transitioning from "emergency maintenance" to "periodic maintenance" to improve road quality and reduce lifecycle maintenance costs[57]. - The company is focusing on "precise, proactive, and beneficial" marketing strategies to enhance user experience and increase revenue from toll collection[57]. Legal and Regulatory Matters - The company is currently facing 158 lawsuits related to the aforementioned securities dispute, with a first-instance judgment requiring compensation of 10.3265 million yuan[98]. - The company has reported a total liability of 4,339.61 million yuan related to a securities false statement liability dispute involving 206 individuals[98]. - The company has been involved in multiple legal disputes, with a total of CNY 4,276.84 million in claims, of which CNY 3,000 million was related to a penalty ruling[102]. - The company has settled a dispute with Wuhan Chuangyingjie Technology Co., where it was not held responsible for a claim of CNY 635.89 million[105]. - The company is actively managing its legal risks and has established agreements to handle various disputes through mediation and settlements[104]. Future Outlook and Strategic Initiatives - The company has set a future outlook with a revenue target of 3 billion RMB for the full year 2020, indicating a projected growth rate of 10%[84]. - The company plans to expand its market presence by entering three new provinces in China by the end of 2020, aiming for a 30% increase in market share[81]. - A strategic acquisition of a local competitor is in progress, which is expected to enhance the company's service capabilities and increase revenue by an estimated 500 million RMB annually[84]. - The company is committed to maintaining financial independence, ensuring that its financial department operates separately from its parent company[85]. - The company has established a robust governance structure to ensure compliance with regulatory requirements and to maintain operational independence[84]. Environmental and Social Responsibility - The company has no significant environmental pollution incidents reported during the reporting period[126]. - The company has been conducting regular environmental monitoring since July 2019, focusing on domestic sewage and noise monitoring[130]. - The company has established an emergency response plan for environmental incidents, which was filed in October 2017[129]. - The company is enhancing collaboration with local governments to support environmental initiatives, particularly in the "Blue Sky Defense War" campaign[57]. Shareholder and Governance Matters - The largest shareholder, Shanxi Road and Bridge Construction Group Co., Ltd., holds 27.79% of the shares, totaling 130,412,280 shares[142]. - The second largest shareholder, Shanxi Economic Construction Investment Group Co., Ltd., holds 2.65% of the shares, totaling 12,416,539 shares[142]. - The company has not reported any significant changes in major matters during the reporting period[131]. - There were no changes in the controlling shareholder or actual controller during the reporting period[146]. - The company has not conducted any repurchase transactions during the reporting period[145].