Core Viewpoint - Modern Investment Co., Ltd. reported a dual growth in revenue and net profit for the first half of 2025, underpinned by its "one body, two wings" development strategy, indicating a solid financial performance and strategic execution [1] Financial Performance - The company achieved total operating revenue of 4.042 billion yuan, a year-on-year increase of 11.74% [2] - Net profit attributable to shareholders reached 299 million yuan, up 15.97% year-on-year, while the net profit after deducting non-recurring gains and losses was 293 million yuan, reflecting a 15.78% increase [2] - The overall expense ratio decreased, with financial expenses reduced from 471 million yuan to 390 million yuan, a decrease of 17.28% [2] Operational Highlights - The highway business, as a core component, managed approximately 563 kilometers of operational highways, generating differentiated toll revenue growth [2] - Toll revenue from Xiangheng Expressway was 530 million yuan, up 12.16%, while Huai-Zhi Expressway revenue reached 37.99 million yuan, increasing by 11.67% [2] Digital Transformation - The company has made progress in digital transformation, launching the "Highway Hui Tong" platform and promoting the "pay later" service model, which has improved toll efficiency by 50% [3] - AI applications for intelligent inspections and smart maintenance decision models have been implemented [3] Business Expansion - Modern Investment is diversifying into financial, environmental, and new energy sectors, contributing to overall performance [4] - The financial segment generated 2.166 billion yuan in revenue, leveraging its multi-license advantages [4] - The environmental segment has strengthened its market position with successful permits and operational improvements [4] - The new energy sector is focusing on solar energy deployment along highways and exploring the "water + solar" market [4] Future Outlook - The company aims to expand its toll road assets through acquisitions and seek support from major shareholders [5] - There is a perceived mismatch between the company's valuation and its growth fundamentals, with a lower price-to-earnings ratio compared to the industry average [5] - A valuation enhancement plan was disclosed, indicating a move towards aligning with industry averages as operational results improve [5]

Core Viewpoint - Modern Investment reported a solid performance in the first half of 2025, with total revenue of 4.042 billion yuan, a year-on-year increase of 11.74%, and a net profit attributable to shareholders of 299 million yuan, up 15.97% [2] Group 1: Financial Performance - The company achieved a net profit of 293 million yuan after deducting non-recurring items, reflecting a growth of 15.78% year-on-year, indicating strong profit quality [2] - Despite slight fluctuations in gross margin due to industry conditions, the overall expense ratio decreased, with financial expenses reduced from 471 million yuan to 390 million yuan, a decrease of 17.28% [2] - The company lowered the comprehensive financing cost of existing debt by 11 basis points compared to the end of the previous year through proactive debt replacement and issuing low-cost financing tools [2] Group 2: Operational Efficiency - The highway business, as part of the company's "one body," continued to play a stabilizing role, managing approximately 563 kilometers of highways, including major national routes [3] - Toll revenue from Xiangheng Expressway reached 530 million yuan, a year-on-year increase of 12.16%, while Huai-Zhi Expressway revenue was 37.99 million yuan, up 11.67% [3] - The company implemented a digital transformation strategy, enhancing operational efficiency with initiatives like the "Highway Huaitong" platform and AI applications, resulting in a 50% improvement in toll efficiency [3] Group 3: Business Expansion - The company is leveraging its strengths in finance, environmental protection, and new energy sectors to drive growth, aligning with national policies on financial strength and carbon neutrality [4] - The financial segment generated revenue of 2.166 billion yuan, focusing on providing precise services to the upstream and downstream of the highway industry [4] - The environmental segment has strengthened its market position, with successful renewals of hazardous waste permits and advancements in smart wastewater treatment technology [4] Group 4: New Energy Initiatives - The company is positioned as a pioneer in photovoltaic power generation along highways, actively expanding its solar energy initiatives in line with government policies [5][6] - Future plans include seeking to extend toll collection periods and acquiring quality road assets through mergers and acquisitions to sustain long-term growth [6] - The company aims to enhance its internal risk control systems and focus on the core highway business while integrating financial, environmental, and new energy operations to stabilize revenue [6]

Company Summary - Modern Investment (SZ 000900) announced on August 29 that it will recognize impairment losses totaling 55.31 million yuan, which will reduce the company's profit before tax for the first half of 2025 by the same amount [1] - The net profit attributable to the parent company's shareholders will decrease by 35.45 million yuan, and the equity attributable to the parent company's shareholders will also decrease by 35.45 million yuan [1] - The impairment data has not been audited by the annual audit accountant, and the specific impairment items and amounts will be based on the audited financial data [1] Financial Performance - For the first half of 2025, Modern Investment's revenue composition is as follows: 52.58% from commodity trading, 34.14% from transportation auxiliary services, 6.87% from other businesses, and 6.41% from other sources [1] - As of the report date, the market capitalization of Modern Investment is 6.5 billion yuan [1]

Group 1 - The company, Modern Investment, announced the convening of its 9th Board of Directors meeting on August 28, 2025, to review the risk assessment report for Hunan Highway Group Financial Co., Ltd. [1] - For the first half of 2025, the revenue composition of Modern Investment was as follows: 52.58% from commodity trading, 34.14% from transportation auxiliary services, 6.87% from other businesses, and 6.41% from miscellaneous sources [1] - As of the report, the market capitalization of Modern Investment is 6.5 billion yuan [1] Group 2 - The automotive industry is witnessing a significant event with nearly 120 brands and 1,600 vehicles participating in the first A-level car exhibition in Southwest China, indicating a competitive landscape [1] - The emergence of new energy vehicles is expected to reshape the market dynamics in the automotive sector [1]

现代投资股份有限公司 2025 年半年度财务报告 现代投资股份有限公司 2025 年半年度财务报告 （未经审计） 【2025 年 8 月】 1 现代投资股份有限公司 2025 年半年度财务报告 财务报告 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：现代投资股份有限公司 项目 期末余额 期初余额 流动资产： 货币资金 3,860,403,313.14 3,784,907,131.60 结算备付金 拆出资金 交易性金融资产 209,329,121.32 148,129,827.43 衍生金融资产 3,370.00 4,743,140.00 应收票据 62,949.60 应收账款 405,862,366.11 360,797,386.72 应收款项融资 819,730.00 100,740.00 预付款项 114,044,775.80 87,656,816.18 应收保费 应收分保账款 应收分保合同准备金 其他应收款 158,110,539.64 148,551,384.33 其中：应收利息 2,540,419 ...

上市公司名称：现代投资股份有限公司 单位：万元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司 的关联关系 | 上市公司核算的会计 科目 | 2025 年期初 占用资金余 | 2025 年 1-6 月占用累计 发生金额（不 | 2025 年 1-6 月占用资 金的利息 | 2025年1-6月 偿还累计发 | 2025 年 6 月期末 占用资金余额 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 额 | 含利息） | （如有） | 生金额 | | | | | 现大股东及其附属企业 | | | | | | | | | | | | 小计 | - | - | - | - | - | - | - | - | - | - | | 前大股东及其附属企业 | | | | | | | | | | | | 小计 | - | - | - | - | - | - | - | - | - | - | | 总计 | - | - | - | - | - | - | - | - | ...

证券简称：现代投资 证券代码：000900 公告编号：2025-025 现代投资股份有限公司 关于 2025 年半年度计提信用减值及资产减值准备的 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。 现代投资股份有限公司（以下简称"公司"）为真实、公允地反 映公司财务状况与 2025 年半年度的经营成果，依据《企业会计准则》 等相关规定，对截至 2025 年 6 月 30 日合并报表范围内存在减值迹象 的资产计提减值准备合计 5,530.62 万元。 一、计提减值准备情况概述 （一）本次计提减值准备的原因 根据《企业会计准则》等相关规定的要求，为真实、准确地反映 公司的资产状况和财务状况，基于谨慎性原则，公司对截至 2025 年 6 月 30 日合并报表范围内各项资产进行全面清查和减值测试，对合 并报表范围内可能发生信用减值损失、资产减值损失的有关资产计提 相应减值准备。 （二）本次计提减值准备的资产范围和总金额 公司本期计提信用减值准备及资产减值准备合计 5,530.62 万元。 本期计提减值准备的资产项目包括应收账款、其他应收款、债权投资、 其他债权投资 ...

现代投资股份有限公司 关于对湖南高速集团财务有限公司的 风险持续评估报告 按照《深圳证券交易所上市公司自律监管指引第 7 号—交易与关联 交易》的要求，现代投资股份有限公司(以下简称"公司"或者"本公司") 通过查验湖南高速集团财务有限公司的《金融许可证》《企业法人营业 执照》等证件资料，并审阅湖南中天华会计师事务所（普通合伙）(具有 证券、期货相关业务资格)出具的包括资产负债表、损益表、现金流量表 等在内的湖南高速集团财务有限公司的定期财务报告，对湖南高速集团 财务有限公司的经营资质、业务和风险状况进行了持续评估，具体情况 报告如下: 一、湖南高速集团财务有限公司基本情况 1、湖南高速集团财务有限公司是经中国银监会（既现"国家金融监 督管理总局"）批准，于 2011 年 12 月 22 日正式开业的非银行金融机构， 是湖南高速集团的"内部银行"。以"依托集团，服务集团"为宗旨， 为湖南高速公路建设提供"产融结合"的平台。 2、金融许可证编码:L0132H243010001 3、统一社会信用代码:91430000587021774H 4、注册资本: 100000 万元人民币，股东构成如下: 单位：万元 | 股 ...

现代投资股份有 财 务 报 表 2025年1-6月 公司法定代表人: 会计机构负责人: 掀两 主管会计工作负责人: 合并资产负债表 编制单位:现代投资股份有限公司 | 编制早区:现代投资旅行有限公 | | 上 17: | | --- | --- | --- | | 项目 | 2025年6月30日 | 2024年12月31日 | | 流动资产: | | | | 货币资金 | 3,860,403,313.14 | 3,784,907,131.60 | | 结算备付金 | | | | 拆出资金 | | | | 父易性金融资产 | 209,329,121.32 | 148,129,827.43 | | 省生金融资产 | 3,370.00 | 4.743.140.00 | | 应收票据 | | 62,949.60 | | 应收账款 | 405,862,366.11 | 360,797,386.72 | | 应收款项融资 | 819,730.00 | 100,740.00 | | 预付款项 | 114,044,775.80 | 87.656.816.18 | | 应收保费 | | | | 应收分保账款 | | | | 业 ...

证券简称：现代投资 证券代码：000900 公告编号：2025-023 现代投资股份有限公司 第九届监事会第六次会议决议公告 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。 详见公司同日披露的《2025 年半年度报告摘要》《2025 年半年 度报告》。 （二）审议通过了《关于对湖南高速集团财务有限公司的风险持 续评估报告》。 一、监事会会议召开情况 现代投资股份有限公司（以下简称"公司"）第九届监事会第六 次会议通知已于 2025 年 8 月 19 日以通讯方式送达各位监事。本次会 议于 2025 年 8 月 28 日以现场结合通讯方式召开。会议应出席会议监 事 6 名，实际出席会议监事 6 名，其中监事刘立勇先生、监事潘烨先 生、职工监事李虹女士以通讯方式参与表决。会议由公司监事会主席 雷楷铭先生主持，会议的召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 二、监事会会议审议情况 （一）审议通过了《2025 年半年度报告全文及摘要》。 监事会认为：董事会编制和审议公司《2025 年半年度报告及摘 要》的程序符合法律、行政法规及中国证监 ...