Financial Performance - The company's operating revenue for Q1 2025 was CNY 338,456,956.92, representing a 2.53% increase compared to CNY 330,107,463.73 in the same period last year[5] - Net profit attributable to shareholders was CNY 107,419,587.13, a 26.92% increase from CNY 84,637,064.86 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 107,026,557.96, up 28.33% from CNY 83,397,749.61 in the previous year[5] - Basic and diluted earnings per share increased by 26.86% to CNY 0.0732 from CNY 0.0577 year-on-year[5] - Total operating revenue for the current period reached ¥338,456,956.92, an increase of 2.1% compared to ¥330,107,463.73 in the previous period[15] - Operating profit increased to ¥142,448,636.82, representing a growth of 28.3% from ¥111,061,778.97 in the previous period[15] - Net profit for the current period was ¥107,419,587.13, up 26.8% from ¥84,637,064.86 in the previous period[16] - Basic and diluted earnings per share improved to ¥0.0732, compared to ¥0.0577 in the previous period[16] Cash Flow and Expenses - The net cash flow from operating activities decreased by 27.34% to CNY 173,401,915.73 from CNY 238,660,357.43 in the same period last year[5] - Net cash flow from operating activities was ¥173,401,915.73, a decrease of 27.3% from ¥238,660,357.43 in the previous period[17] - Management expenses rose to ¥10,415,971.62, up 19.5% from ¥8,716,648.11 in the previous period[15] - Financial expenses decreased significantly to ¥41,224,936.13, down 26% from ¥55,534,918.72 in the previous period[15] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,517,494,511.29, a slight decrease of 0.11% from CNY 12,468,700,783.59 at the end of the previous year[5] - Current assets increased to CNY 1,304,154,432.14 from CNY 1,192,519,332.97, reflecting a growth of approximately 9.36%[12] - Total liabilities decreased to CNY 7,063,614,173.88 from CNY 7,124,014,076.83, a reduction of approximately 0.85%[13] - The company's equity attributable to shareholders increased to CNY 5,453,880,337.41 from CNY 5,406,717,450.28, showing a growth of about 0.87%[13] - Cash and cash equivalents at the end of the period were CNY 1,178,165,542.18, up from CNY 1,112,339,500.19, representing an increase of approximately 5.91%[12] - The total current liabilities decreased to CNY 894,132,248.04 from CNY 953,061,465.75, a decline of about 6.18%[13] Accounts and Receivables - Accounts receivable increased by 79.76% to CNY 99,137,618.05 due to an increase in toll revenue receivables[8] - Accounts receivable rose significantly to CNY 99,137,618.05 from CNY 55,148,640.71, indicating an increase of about 79.83%[12] - Contract assets rose by 235.85% to CNY 432,476.17, indicating payments not yet due under contract terms[8] Business Developments - The company completed the cash acquisition of 100% equity in Taiyuan Expressway Management Co., Ltd. from Shanxi Transportation Holding Group in January 2025, which constituted a business combination under common control[5] - The company did not report any new product launches or significant market expansion strategies during this period[20]

证券代码：000755 证券简称：山西高速 公告编号：2025-02 山西高速集团股份有限公司 第八届董事会第十六次会议决议公告 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。 一、董事会会议召开情况 山西高速集团股份有限公司（以下简称"公司"）于 2025 年 3 月 13 日以书面和电子邮件等方式发出第八届董事会第十六次会议通 知，会议于 2025 年 3 月 19 日在太原市小店区南中环街 529 号清控创 新基地 B 座 10 层会议室采取现场及视频通讯方式召开。会议由公司 董事长武艺先生主持，会议应出席董事 9 名，实际出席 9 名，公司监 事会成员及高级管理人员列席会议。会议程序符合《公司法》等有关 法律、行政法规、部门规章和公司章程的规定。 二、董事会议案审议情况 1.审议通过《关于聘任公司副总经理的议案》。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 公司董事会同意聘任胡永胜先生为公司副总经理（简历附后）， 任期自本次董事会审议通过之日起，至第八届董事会届满日止。 2.审议通过《关于<公司高级管理人员 2023 年薪酬及 2020 年 ...

Group 1: Traffic and Revenue Insights - The company's highway toll revenue is primarily derived from truck traffic, with a ratio of approximately 90:10 between trucks and passenger vehicles [1] - As of Q3 2024, the company's operating revenue decreased by 7.17% compared to the same period last year, with a slight decline in vehicle flow [1] - The company implements differentiated toll policies, offering discounts of 18.5% for Class 2 trucks and 15% for Class 5 trucks, while Class 1, 3, 4, and 6 trucks receive a 5% discount [1] Group 2: Future Strategies and Market Adaptation - The company is actively monitoring market conditions and the impact of various transportation modes on highway traffic [6] - Strategies include enhancing service quality, optimizing operational efficiency, and exploring new profit growth points in related industries [6] - The company does not plan to extend the operational period of its profitable highways in the short term [6] Group 3: Financial Health and Shareholder Returns - As of the end of 2023, the company had cash and cash equivalents of 822 million yuan, increasing to 982 million yuan by Q3 2024, indicating sufficient cash flow [6] - The company's comprehensive financing cost is approximately 2.75%, primarily sourced from bank loans, with potential for further reduction if interest rates decline [6] - The company has implemented a shareholder return plan, aiming to distribute at least 40% of its distributable profits in cash annually from 2023 to 2025 [2]

详细内容请见公司同日在巨潮资讯网披露的《关于收购太原高速 公路管理有限公司 100%股权暨关联交易的公告》（公告编号： 2024-46）。 证券代码：000755 证券简称：山西高速 公告编号：2024—45 山西高速集团股份有限公司 第八届监事会第十次会议决议公告 本公司及监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。 一、监事会会议召开情况 山西高速集团股份有限公司（以下简称"公司"）于 2024 年 12 月 16 日以书面和电子邮件等方式发出第八届监事会第十次会议通知， 会议于 2024 年 12 月 23 日在太原市小店区南中环街 529 号清控创新 基地B座10层会议室召开。会议由公司监事会主席李文胜先生主持， 会议应出席监事 6 名，实际出席 6 名。会议程序符合《公司法》等有 关法律、行政法规、部门规章和公司章程的规定。 二、监事会议案审议情况 会议就公司有关重大事项进行认真审议，作出如下决议： 审议通过《关于收购太原高速公路管理有限公司 100%股权暨关 联交易的议案》。 表决结果：同意 6 票，反对 0 票，弃权 0 票。 三、备查文件 第八届监事 ...

山西高速集团股份有限公司 关于收购太原高速公路管理有限公司 100%股权暨关联交易公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 重要内容提示： 证券代码：000755 证券简称：山西高速 公告编号：2024-46 ●本次交易构成关联交易，但不构成中国证监会《上市 公司重大资产重组管理办法》规定的重大资产重组。 ●本次交易金额超过3,000万元，但未超过上市公司最近 一期经审计净资产绝对值的5%，本次交易事项经公司董事会 批准后即可实施，无需提交公司股东大会审议。 ●本次交易已经公司第八届董事会第十五次会议审议通 过，关联董事回避表决。 一、关联交易概述 公司拟以现金收购山西交控集团持有的太原公司100% 股权。本次交易完成后，太原公司将成为公司全资子公司。 根据符合《证券法》规定的评估机构北京国融兴华资产 评估有限责任公司（以下简称"国融兴华"或"评估机构"） 出具的《山西交通控股集团有限公司拟以非公开协议方式转 让股权至山西高速集团股份有限公司所涉及的太原高速公路 管理有限公司股东全部权益价值项目资产评估报告》[国融兴 华评报字(2024）第50000 ...

二、董事会议案审议情况 1.审议通过《关于收购太原高速公路管理有限公司 100%股权暨 关联交易的议案》。 证券代码：000755 证券简称：山西高速 公告编号：2024—44 山西高速集团股份有限公司 第八届董事会第十五次会议决议公告 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。 一、董事会会议召开情况 山西高速集团股份有限公司（以下简称"公司"）于 2024 年 12 月 16 日以书面和电子邮件等方式发出第八届董事会第十五次会议通 知，会议于 2024 年 12 月 23 日在太原市小店区南中环街 529 号清控 创新基地 B 座 10 层会议室采取现场及视频通讯方式召开。会议由公 司董事长武艺先生主持，会议应出席董事 9 名，实际出席 9 名，公司 监事会成员及高级管理人员列席会议。会议程序符合《公司法》等有 关法律、行政法规、部门规章和公司章程的规定。 三、备查文件 1.公司第八届董事会第十五次会议决议。 2.公司独立董事专门会议纪要。 特此公告 山西高速集团股份有限公司董事会 表决结果：同意 4 票，回避 5 票，反对 0 票，弃权 0 票。在审 ...

山西高速集团股份有限公司 信息披露管理办法 第一章 总 则 第一条 为了加强山西高速集团股份有限公司（以下简称 "公司"）信息披露事务管理，充分履行对投资者诚信与勤 勉的责任，本着公平、公正、公开的原则，依据《中华人民 共和国公司法》《中华人民共和国证券法》《深圳证券交易 所股票上市规则》《上市公司信息披露管理办法》等有关法 律、法规、规范性文件及《公司章程》的有关规定，制定本 办法。 第二条 本办法所称"信息"是指所有可能对公司股票 及其衍生品种交易价格产生重大影响的信息以及证券监管 部门要求披露的信息；所称"披露"是指在规定的时间内， 在中国证券监督管理委员会（以下简称"中国证监会"）指 定的媒体上，以规定的披露方式向社会公众公布前述信息。 第三条 信息披露义务人，是指公司及其董事、监事、 高级管理人员、股东、实际控制人，收购人，重大资产重组、 再融资、重大交易有关各方等自然人、单位及其相关人员， 破产管理人及其成员，以及法律、行政法规和中国证券监督 管理委员会（以下简称"中国证监会"）规定的其他承担信 息披露义务的主体。 第四条 本办法适用于如下人员和机构： 1.公司董事会和董事； 2.公司监事会和监事 ...

Financial Performance - Revenue for Q3 2024 was CNY 425.11 million, a decrease of 8.43% compared to CNY 450.76 million in the same period last year[3]. - Net profit attributable to shareholders was CNY 144.79 million, an increase of 8.83% from CNY 136.72 million year-on-year[3]. - Basic earnings per share for Q3 2024 was CNY 0.0987, up 8.82% from CNY 0.0932 in the previous year[3]. - The net profit for Q3 2024 was CNY 381,936,903.94, a decrease of 1.89% compared to CNY 387,670,976.34 in Q3 2023[15]. - Operating profit for Q3 2024 was CNY 507,274,265.01, down from CNY 519,612,733.39 in the same period last year, reflecting a decline of 2.58%[15]. - Total operating revenue for the third quarter was CNY 1,185,082,730.79, a decrease of 7.2% compared to CNY 1,276,679,658.45 in the same period last year[14]. - The company reported a total revenue from sales of goods and services of CNY 1,258,777,874.57 for Q3 2024, down from CNY 1,283,098,524.93 in Q3 2023, a decline of 1.90%[16]. - Financial expenses for Q3 2024 were CNY 153,331,215.72, a decrease from CNY 184,387,462.33 in Q3 2023, reflecting a reduction of 16.87%[15]. Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date was CNY 958.61 million, reflecting a growth of 6.81% compared to CNY 900.19 million last year[3]. - Cash flow from operating activities for Q3 2024 was CNY 958,609,648.47, an increase from CNY 897,531,477.85 in Q3 2023, representing a growth of 6.73%[16]. - As of September 30, 2024, the company's cash and cash equivalents amounted to ¥994,465,624.65, an increase from ¥838,073,007.26 at the beginning of the period, representing a growth of approximately 18.66%[11]. - Total cash and cash equivalents at the end of Q3 2024 amounted to CNY 981,653,624.65, compared to CNY 1,051,621,019.04 at the end of Q3 2023, indicating a decrease of 6.63%[17]. - The company’s cash and cash equivalents increased, contributing to improved liquidity[12]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 12.74 billion, a decrease of 2.26% from the previous year-end[3]. - Current assets totaled CNY 1,072,512,281.52, an increase from CNY 938,703,542.00, reflecting a growth of 14.2%[12]. - Non-current assets decreased to CNY 11,384,251,668.97 from CNY 11,805,495,933.01, a decline of 3.6%[12]. - Total liabilities amounted to CNY 7,189,174,912.56, down from CNY 7,792,518,390.97, indicating a reduction of 7.8%[13]. - The company reported a decrease in accounts payable to CNY 269,047,165.41 from CNY 295,295,866.88, a decline of 8.9%[12]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 44,990, with the largest shareholder holding 58.42%[7]. - The top 10 shareholders include Shanxi Provincial Highway Group with 857,266,275 shares, representing a significant portion of the total shareholding[8]. - The total number of shares held by Shanxi Provincial Tourism Investment Holding Group decreased to 6,000,000, accounting for 0.41% of the total share capital[9]. - The company reported that the top 10 shareholders' participation in margin trading and securities lending has changed, with some shareholders exiting this activity[10]. Operational Highlights - The company reported a significant reduction in accounts receivable by 41.75%, from CNY 92.55 million to CNY 53.92 million[5]. - The company’s contract liabilities decreased by 96.79% as a result of revenue recognition[5]. - Other income increased by 121.08% to CNY 836,224.62 due to higher government subsidies received[6]. - The company received government subsidies totaling CNY 444,524.00 during the reporting period[4]. - Research and development expenses were CNY 1,712,889.24, slightly down from CNY 1,893,903.38, a decrease of 9.5%[14]. - The company has not disclosed any new product or technology developments in this quarter[10]. - There are no significant changes in market expansion or mergers and acquisitions reported during this period[10]. - The company did not provide specific future guidance or outlook in the current report[10]. Debt and Financing Activities - The company paid CNY 4,429,344,444.44 in debt repayments during Q3 2024, significantly higher than CNY 173,314,341.46 in Q3 2023[17]. - The total cash outflow from financing activities in Q3 2024 was CNY 4,658,809,584.57, compared to CNY 457,103,613.96 in Q3 2023, indicating a substantial increase in financing activities[17].

证券代码：000755 证券简称：山西高速 公告编号：2024-43 山西高速集团股份有限公司 关于诉讼事项的公告 序 号 案件时间 原告/申 请人 被告/被申请人 案由及诉讼请求 涉案金额 （万元） 案件进展 披露索引 1 2023.9.26 河南矿山 重型起重 机械有限 公司 山西 路桥股份 有限公司、山西 三维 华邦集团 有限公司、山西 三维 化工有限 公司 案由：货物采购纠 纷 诉讼请求：1.要求 第一被告支付原 告货款 43.19 万 元;2.要求被告一 支付资金占用费； 3.要求被告二、三 对 1、2 项请求承 担连带责任；4. 要求被告一、二、 三承担本案诉讼 费。 43.19 一审法院判决：由本 公司支付原告货款 43.19 万元及资金占 用费，驳回原告其他 诉讼请求。本公司不 服一审判决，提起上 诉。 二审法院裁定：本案 按上诉人自动撤回 上诉处理，一审判决 自本裁定书送达之 日起发生法律效力。 本案已完结。 2024年2 月1 日，《关于诉 讼事 项的公 告》（公告编 号：2024-03） 2 2022.3.21 青岛欧亚 节能科技 有限公司 山西 路桥股份 有限公司、山西 三维 华邦集团 ...

Investment Rating - The report assigns an "Accumulate" rating for Shanxi Expressway, indicating a positive outlook for the stock [2]. Core Views - Shanxi Expressway's main business involves the management and operation of highways, with a total toll mileage of 163.935 kilometers. The company has recently reported a decline in revenue and profit due to reduced toll income, but expects an increase in toll revenue during peak energy transportation seasons [2][4]. - The company has initiated its first cash dividend since a major asset restructuring in 2018, distributing 66 million yuan for the year 2023, and has outlined a three-year shareholder return plan [2][4]. - The company is expected to benefit from increased attention to the Shanxi cultural tourism industry due to upcoming events, which may positively impact its operations [2]. Summary by Sections Financial Performance - For the first half of 2024, Shanxi Expressway reported total revenue of 760 million yuan, a year-on-year decrease of 3.86%. The net profit attributable to shareholders was 237 million yuan, down 3.82% from the previous year [1]. - Basic earnings per share were 0.16 yuan, with a weighted average return on equity of 4.69% [1]. Business Operations - The company operates key highways that serve as major transportation routes for coal and other energy goods. The highways include Pingyu Expressway, Yuhua Expressway, and the Taijia Yellow River Bridge [2]. - The company is also investing in green energy initiatives, including the construction of a "green energy demonstration road" with distributed photovoltaic capacity of 9.2 MW [2]. Future Projections - Revenue projections for the upcoming years indicate a gradual recovery, with expected revenues of 1.712 billion yuan in 2024, reflecting a year-on-year growth of 0.5% [4]. - The net profit is projected to reach 468 million yuan in 2024, with a year-on-year growth of 1.9% [4].