Financial Performance - The company's operating revenue for Q1 2023 was ¥189,679,264.06, a decrease of 8.28% compared to ¥206,805,031.00 in the same period last year[4] - The net profit attributable to shareholders was ¥4,157,245.65, down 76.51% from ¥17,700,643.95 year-on-year[4] - The net cash flow from operating activities was ¥18,144,311.53, reflecting a decline of 65.97% compared to ¥53,315,657.53 in the previous year[4] - Total operating revenue for Q1 2023 was ¥189,679,264.06, a decrease of 8.2% from ¥206,805,031.00 in Q1 2022[18] - Net profit for Q1 2023 was ¥4,825,262.98, a decline of 74.0% compared to ¥18,584,972.62 in Q1 2022[19] - The company reported an investment income of ¥35,172,712.47, down from ¥49,108,279.39 in the previous year, indicating a decrease of 28.4%[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,381,778,189.64, a decrease of 3.90% from ¥7,681,247,019.66 at the end of the previous year[4] - The total assets of Chengdu Road and Bridge Engineering Co., Ltd. as of March 31, 2023, amounted to CNY 3,396,808,261.67, a decrease from CNY 3,731,825,083.18 at the beginning of the year, reflecting a decline of approximately 9.0%[14] - The company's total assets decreased to ¥7,381,778,189.64 from ¥7,681,247,019.66, reflecting a reduction of 3.9%[16] - Total liabilities decreased to ¥4,300,489,356.75 from ¥4,602,882,791.59, a reduction of 6.6%[16] - The total liabilities of the company are not explicitly stated in the provided documents, indicating a need for further financial disclosures[13] Cash Flow - The cash and cash equivalents decreased by 56.82% to ¥-85,877,281.62 from ¥-198,902,394.92 in the previous year[7] - The company's cash and cash equivalents decreased to CNY 122,071,974.87 from CNY 209,742,899.36, representing a decline of about 41.7%[14] - The net cash flow from investing activities was -¥47,724,360.00, worsening from -¥34,227,694.32 in the previous year[21] - The net cash flow from financing activities was -¥56,297,233.15, compared to -¥217,990,358.13 in Q1 2022, indicating a significant improvement[21] - The total cash and cash equivalents at the end of Q1 2023 were ¥66,104,531.46, down from ¥189,384,809.34 at the end of Q1 2022[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 42,469[9] - The largest shareholder, Sichuan Hongyi Jiahua, holds 15.56% of the shares, with 117,767,762 shares frozen[9] - Sichuan Hongyi Jiahua Industrial Co., Ltd. transferred its voting rights for 117,767,762 shares to Sichuan Dongjun Taida Industrial Co., Ltd., resulting in the latter holding 20.55% of the voting rights and becoming the controlling shareholder[12] Research and Development - Research and development expenses increased by 65.54% to ¥2,086,684.77 compared to ¥1,260,500.50 in the previous year[6] - Research and development expenses increased to ¥2,086,684.77, up 65.0% from ¥1,260,500.50 in Q1 2022, indicating a focus on innovation[18] Inventory and Receivables - Accounts receivable decreased significantly from CNY 965,361,761.96 to CNY 625,897,188.34, a reduction of approximately 35.2%[14] - The company’s inventory increased to CNY 66,874,445.14 from CNY 60,380,226.22, marking an increase of approximately 10.0%[14] Other Financial Metrics - The company's basic earnings per share decreased by 50.00% to ¥0.01 from ¥0.02 in the same period last year[4] - Basic earnings per share for Q1 2023 were ¥0.01, down from ¥0.02 in Q1 2022, reflecting the decline in profitability[19] - Deferred income tax assets increased to ¥121,475,073.80 from ¥113,759,969.08, showing a growth of 6.0%[16] - The company completed the repurchase and cancellation of part of its restricted stock on March 30, 2023, reducing the total share capital from 757,194,315 shares to 757,100,415 shares[12] - The company's fixed assets increased from CNY 39,718,723.14 to CNY 41,689,383.02, reflecting an increase of approximately 4.9%[14] Audit Status - The company’s first quarter report was not audited[22]

Financial Performance - The company's operating revenue for 2022 was ¥1,338,679,145.35, a decrease of 25.20% compared to ¥1,789,747,620.58 in 2021[6]. - The net profit attributable to shareholders for 2022 was ¥9,144,540.36, down 88.43% from ¥79,019,998.14 in 2021[6]. - The cash flow from operating activities improved significantly to ¥230,628,544.57, compared to a negative cash flow of ¥335,218,389.44 in 2021, marking a 168.80% increase[6]. - The basic earnings per share for 2022 was ¥0.01, a decline of 90.00% from ¥0.10 in 2021[6]. - Total assets at the end of 2022 were ¥7,681,247,019.66, a decrease of 6.28% from ¥8,195,753,938.03 at the end of 2021[6]. - The net asset attributable to shareholders increased slightly by 0.90% to ¥3,002,062,116.46 at the end of 2022, compared to ¥2,975,314,113.96 at the end of 2021[6]. - The company reported a quarterly revenue of ¥441,247,943.27 in Q4 2022, which was the highest among the four quarters[25]. - The net profit attributable to shareholders in Q4 2022 was ¥46,321,245.00, recovering from losses in the previous quarters[25]. Dividend Distribution - The company plans to distribute a cash dividend of 0.23 RMB per 10 shares to all shareholders, based on a total share capital of 757,100,415 shares[5]. - The company reported a net profit attributable to shareholders of RMB 9,144,540.36 for the fiscal year 2022, with a total distributable profit of RMB 1,158,467,196.49 at year-end[170]. - A cash dividend of RMB 0.23 per 10 shares was declared, totaling RMB 17,413,309.55, which represents 100% of the profit distribution amount[170]. - The total number of shares for the cash dividend distribution is based on 757,100,415 shares[170]. - The company extracted RMB 3,475,260.79 as statutory surplus reserve from the net profit of RMB 34,752,607.92 for the year 2022[170]. - The company did not propose any stock dividends or capital reserve transfers during this distribution[170]. Business Operations and Strategy - The company has been focusing on infrastructure development in line with national policies aimed at enhancing transportation networks, which may provide future growth opportunities[32]. - The company is actively adjusting its business model to participate in various projects, focusing on procurement, production, sales, and settlement management[40]. - The company has established a project company for investment projects, responsible for financing, construction, operation, maintenance, and settlement with government departments[46]. - The company is focusing on optimizing management processes and enhancing professional system construction to improve operational efficiency[63]. - The company aims to enhance its core business in road and bridge construction while focusing on technology and new infrastructure, with a strategic plan for business growth and regional operations[111]. - The company is focusing on green and low-carbon construction technologies to align with national sustainability goals[108]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report, highlighting potential industry risks and response strategies[4]. - The company faces risks related to industry policies, competition, financial management, raw material price fluctuations, and safety management, which it aims to mitigate through strategic planning and operational adjustments[116][117][118][119][120]. Governance and Management - The company has established a complete and independent governance structure, complying with relevant laws and regulations, ensuring effective internal management and control systems[125]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a diverse and qualified composition[128]. - The company maintains a high level of independence from its controlling shareholder, with separate operations in business, personnel, assets, and finance[135]. - The company has a robust investor relations management system, ensuring timely and accurate information disclosure to all shareholders[133]. - The company held multiple shareholder meetings in 2022, with investor participation rates ranging from 13.69% to 25.95%[138]. - The company has implemented a comprehensive employee performance evaluation and incentive mechanism to attract and retain talent[134]. Internal Control and Compliance - The internal control audit report for 2022 received a standard unqualified opinion from Da Hua Accounting Firm, confirming the effectiveness of the internal control system[178]. - The company has established a comprehensive risk management and compliance management system, focusing on key areas and processes[178]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[186]. - The company achieved a 100% labor contract signing rate for employees during the reporting period, ensuring compliance with labor laws[192]. Market and Competitive Landscape - The company faces competitive disadvantages in public bidding markets and has limited financing channels, which restricts horizontal expansion of its construction business[37]. - The overall market outlook remains positive, with a projected increase in fixed asset investment by 5.1% in 2023, supporting the company's growth initiatives[108]. - The company plans to accelerate infrastructure investment, with a projected growth rate of 9.4% in 2023, driven by national policies[108]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 585, with 364 from the parent company and 221 from major subsidiaries[162]. - The company provided training for over 2,000 person-times during the reporting period, focusing on various aspects such as engineering management and financial skills[165]. - The company actively supports employee training programs to improve job adaptability and promote harmonious development[192].

关于举行 2022 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 成都市路桥工程股份有限公司（以下简称"公司"）将于2023年5月12日（周 五）下午3:00-5:00在深圳市全景网络有限公司提供的网上平台举行2022年度网上 业绩说明会，本次说明会将采用网络远程方式举行，投资者可登录全景网"投资 者关系互动平台"（http://ir.p5w.net）参与本次业绩说明会。 证券代码：002628 证券简称：成都路桥 公告编号：2023-033 出席本次年度业绩说明会的人员有：公司董事长、总经理王培利先生，财务 总监左宇柯女士，独立董事李天霞女士，董事会秘书黄振华先生（如有特殊情况， 参与人员相应调整）。 成都市路桥工程股份有限公司 特此公告。 成都市路桥工程股份有限公司董事会 二〇二三年四月二十六日 为充分尊重广大投资者，使广大投资者更深入、更全面地了解公司 2022 年 度经营情况，现就本次网上业绩说明会提前向投资者公开征集问题，广泛听取投 资者的意见和建议。投资者可于 2023 年 5 月 11 日 17:00 前将有关问题通过 ...

Group 1: Company Overview - Chengdu Road and Bridge Engineering Co., Ltd. held an investor relations activity on December 8, 2014 [1] - The meeting took place in the company's fourth-floor conference room [1] Group 2: Participants - Participants included analysts from Guotai Junan Securities: Liu Fan, Liu Shengqin, and Xu Hao [1] - Company representatives included Board Secretary Wu Heping, Securities Affairs Representative Zhang Lei, and Securities Department member Song Xiao [1] Group 3: Activity Content - The main content of the activity involved an introduction to the company's overall situation [1] - The company addressed questions from investors during the meeting [1] Group 4: Documentation - An attachment was provided, which included the minutes of the Chengdu Road and Bridge institutional research meeting [1]

Group 1: Investor Relations Activity - The investor relations activity was categorized as a specific object survey [1] - Participants included analysts from various securities firms [1] - The meeting took place on June 29, 2016, in the company conference room [1] Group 2: Meeting Content - The meeting included signing a commitment letter [1] - An introduction to the company's history, main business, and recent operational status was provided [1] - Interactive communication was part of the meeting agenda [1]

成都市路桥工程股份有限公司 2022 年第三季度报告 证券代码：002628 证券简称：成都路桥 公告编号：2022-082 成都市路桥工程股份有限公司 2022 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第三季度报告是否经过审计 □是 否 1 成都市路桥工程股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 308,509,945.68 | 7.28% ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥588,921,256.44, a decrease of 33.30% compared to ¥882,956,087.34 in the same period last year[23]. - The net profit attributable to shareholders was a loss of ¥34,235,219.23, representing a decline of 157.99% from a profit of ¥59,031,727.63 in the previous year[23]. - The basic earnings per share were -¥0.05, down 162.50% from ¥0.08 in the previous year[23]. - The company reported a significant drop of 93.68% in net profit after deducting non-recurring gains and losses, amounting to ¥5,365,265.59 compared to ¥84,954,459.59 in the previous year[23]. - The weighted average return on net assets was -1.16%, down from 2.91% in the previous year[23]. - The company reported a total investment of 2,394 million yuan in green low-carbon construction projects as of February 17, 2022, with a self-financing ratio of 1.60%[58]. - The company reported a total liability of 3,518.1 million CNY related to a dispute over project payment, which was settled with the plaintiff withdrawing the lawsuit[100]. - The company reported a total of 1,637 million yuan in related party transactions, with a percentage of 30.10% of the total transaction amount approved[105]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥222,695,262.79, a significant increase of 149.98% compared to a negative cash flow of ¥445,576,604.95 in the same period last year[23]. - The company's cash and cash equivalents decreased to ¥213,609,519.83, representing 2.82% of total assets, down from 5.23% at the end of the previous year[51]. - The net cash flow from financing activities was negative at ¥317,142,114.58, a decrease of 329.51% compared to a positive cash flow of ¥138,183,700.82 in the previous year[42]. - The total cash and cash equivalents at the end of the period were ¥205,106,659.42, down from ¥437,392,676.20 at the end of the first half of 2021, reflecting a decrease of about 53%[161]. - The company received ¥10,000,000.00 from borrowings in the first half of 2022, a significant drop from ¥430,185,000.00 in the same period of 2021[161]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,572,033,447.49, a decrease of 7.61% from ¥8,195,753,938.03 at the end of the previous year[23]. - The net assets attributable to shareholders decreased slightly by 0.73% to ¥2,953,475,851.27 from ¥2,975,314,113.96 at the end of the previous year[23]. - The company's long-term borrowings stood at ¥1,595,000,000.00, accounting for 21.06% of total assets, a slight increase from 19.84% at the end of the previous year[51]. - The total liabilities at the end of the reporting period were 18,345 million yuan, which is a 4.55% increase compared to the previous year[176]. Operational Efficiency and Cost Management - Operating costs decreased by 31.29% to ¥581,595,830.09 from ¥846,408,588.87, reflecting the reduction in construction revenue[42]. - The company is implementing a refined management approach to control project costs and improve operational efficiency[38]. - The company reported a significant decrease in financial expenses, down 5.78% to ¥78,170,706.72 from ¥82,968,042.97[42]. - The company’s management expenses decreased to CNY 38.83 million in the first half of 2022 from CNY 43.90 million in the same period of 2021, indicating operational efficiency[154]. Strategic Initiatives and Future Outlook - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and operational capabilities[64]. - The company aims to improve its capital structure and increase shareholder returns through strategic investments and cost management[167]. - The company plans to expand its market presence and invest in new technology development to enhance operational efficiency[166]. - Future guidance indicates a projected revenue growth of 10% for the next fiscal year, driven by increased project acquisitions[177]. Industry and Market Position - The company has a competitive advantage with comprehensive qualifications in highway, bridge, and tunnel construction, allowing for a broader range of project bidding[37]. - The company is focusing on enhancing its core business quality and accelerating capital turnover to improve profitability[32]. - The company is involved in the construction of a green low-carbon industrial park project in Xinjiang, marking its entry into new industries[35]. - The company is exploring potential mergers and acquisitions to drive growth and enhance competitive advantage in the market[167]. Risk Management - The company has acknowledged potential industry risks and has outlined strategies to address these risks in its management discussion[5]. - Financial risks are present due to high capital requirements and delayed payments from clients, leading the company to explore innovative financing methods and improve accounts receivable collection[71]. - The ongoing COVID-19 pandemic poses challenges to project timelines and material supply, with the company committed to adhering to health guidelines and adjusting operational strategies as needed[74]. Shareholder and Corporate Governance - The company conducted three shareholder meetings in the first half of 2022, ensuring equal voting rights for minority shareholders[85]. - The company has been recognized as a "contract-abiding and credit-worthy enterprise" in Chengdu for several consecutive years, reflecting its commitment to protecting creditor rights[87]. - The company maintained a 100% labor contract signing rate for employees and provided various benefits including basic insurance and paid leave[88].

Financial Performance - The company's operating revenue for Q1 2022 was ¥206,805,031, a decrease of 59.67% compared to ¥512,753,185 in the same period last year[4] - The net profit attributable to shareholders was ¥17,700,643.95, down 67.03% from ¥53,691,772.80 year-on-year[4] - The company's basic earnings per share dropped to ¥0.02, a decline of 71.43% from ¥0.07 in the same period last year[4] - Net profit for the current period is ¥18,584,972.62, compared to ¥53,190,975.95 in the previous period, reflecting a significant decline[19] - Operating profit for the current period is ¥28,466,274.03, down from ¥65,823,244.46 in the previous period[19] - The company’s total profit for the current period is ¥28,457,830.18, down from ¥63,509,648.21 in the previous period[19] Cash Flow - The net cash flow from operating activities improved to ¥53,315,657.53, a significant increase of 118.39% compared to a negative cash flow of ¥289,896,913.04 in the previous year[4] - Cash received from operating activities increased by 55.45% to ¥138,466,157.26, primarily due to an increase in refunded deposits[8] - The company reported a net cash flow from operating activities of ¥53,315,657.53, a recovery from a negative cash flow of -¥289,896,913.04 in the previous period[22] - Cash and cash equivalents at the end of the period totaled ¥189,384,809.34, down from ¥668,938,226.27 at the end of the previous period[22] Assets and Liabilities - Total assets decreased by 6.69% to ¥7,647,185,187.02 from ¥8,195,753,938.03 at the end of the previous year[4] - The company's current assets totaled CNY 3,375,264,614.76, a decrease of about 14.0% from CNY 3,926,025,148.10 at the beginning of the year[14] - The total liabilities decreased from CNY 5,145,589,668.10 to CNY 4,581,175,856.49, indicating a decline of about 11.0%[15] - The company's cash and cash equivalents were CNY 227,582,904.65, down from CNY 428,612,805.11, representing a decrease of approximately 46.9%[13] - The total non-current assets remained relatively stable, with a slight increase from CNY 4,269,728,789.93 to CNY 4,271,920,572.26[14] Equity and Investments - The total equity attributable to shareholders increased slightly by 0.50% to ¥2,990,274,845.89 from ¥2,975,314,113.96 at the end of the previous year[4] - The company reported a 152.74% increase in investment income, reaching ¥49,108,279.39 compared to ¥19,430,711.84 in the previous year[7] - The total equity attributable to the parent company increased slightly from CNY 2,975,314,113.96 to CNY 2,990,274,845.89, an increase of about 0.5%[16] Expenses - The company reported a significant reduction in management expenses by 36.84%, down to ¥16,781,204.14 from ¥26,569,171.02 in the previous year[7] - Total operating costs for the current period amount to ¥258,075,975.82, down from ¥566,861,161.43 in the previous period[18] - The company incurred a credit impairment loss of ¥29,150,403.75, compared to ¥100,352,414.14 in the previous period[19] Borrowings - The company had no short-term loans at the end of the reporting period, a decrease of 100% from ¥150,320,833.33 at the beginning of the period[7] - The company's short-term borrowings were recorded at CNY 150,320,833.33 at the beginning of the year, with no current short-term borrowings reported[15] - The long-term borrowings stood at CNY 1,596,000,000.00, slightly down from CNY 1,626,000,000.00, a decrease of about 1.8%[15]

Financial Performance - The company's operating revenue for 2021 was ¥1,789,747,620.58, a decrease of 17.72% compared to ¥2,175,301,750.37 in 2020[20] - The net profit attributable to shareholders for 2021 was ¥79,019,998.14, down 3.27% from ¥81,689,162.70 in the previous year[20] - The net profit after deducting non-recurring gains and losses increased by 33.49% to ¥104,986,685.85 in 2021, compared to ¥78,646,126.04 in 2020[20] - The net cash flow from operating activities improved by 66.93%, reaching -¥335,218,389.44 in 2021, compared to -¥1,013,675,790.42 in 2020[20] - Total assets at the end of 2021 were ¥8,195,753,938.03, reflecting a 5.98% increase from ¥7,733,050,927.61 at the end of 2020[20] - The net assets attributable to shareholders increased by 3.15% to ¥2,975,314,113.96 at the end of 2021, compared to ¥2,884,394,820.81 at the end of 2020[20] - Basic earnings per share for 2021 were ¥0.10, a decrease of 9.09% from ¥0.11 in 2020[20] - The weighted average return on net assets was 2.69% in 2021, down from 2.89% in 2020[20] Business Operations - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company has acknowledged uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[20] - The company has established a strong regional presence, operating in over 20 provinces and cities, enhancing its brand influence and market competitiveness[34] - The company is focusing on expanding its business in rural revitalization and regional development, aligning with national policies[34] - The company holds multiple industry qualifications, including first-level qualifications for highway engineering and municipal public works, which strengthens its competitive position in the transportation infrastructure sector[35] - The main business model includes single project contracting and investment financing construction, with a focus on adapting to market changes and innovating business models[36] - The company achieved a contract winning amount of 2.603 billion yuan, an increase of 84.61% year-on-year[52] Market and Industry Trends - The total investment in transportation infrastructure in Sichuan Province exceeded CNY 200 billion in 2021, indicating strong government support for the industry[31] - The construction industry in China saw a year-on-year increase of 2.1% in added value, with total profits reaching CNY 855.4 billion, up 1.3%[31] - The government plans to invest approximately CNY 2 trillion in 160 major projects in the Chengdu-Chongqing economic circle by 2025, which will benefit the company[30] Challenges and Risks - The company faces challenges such as limited financing channels and product development constraints, which may hinder its growth potential[34] - The company is currently involved in a dispute over labor payment claims totaling ¥469.57 million with Chengdu Ruixin Road Technology Co., Ltd., which is in the second instance[200] - The company has faced a total of ¥155.58 million in claims related to diesel procurement from Sichuan Runbaotai Petrochemical Co., Ltd., which was withdrawn by the plaintiff[199] Research and Development - Research and development expenses increased by 58.91% to ¥169,355,759.19, primarily due to increased loan interest and R&D personnel costs[73] - R&D investment reached ¥5,817,548.31, a 45.96% increase compared to the previous year, representing 0.33% of operating revenue[75] - The number of R&D personnel increased by 112.00% to 53, with their proportion in the workforce rising to 10.03%[75] - The company is currently developing several new technologies, including a structural monitoring system and a mud recovery treatment system, aimed at enhancing operational efficiency and safety[74] Corporate Governance - The company has established a robust corporate governance structure in compliance with relevant laws and regulations[118] - The company ensures equal rights for shareholders and maintains transparency in shareholder meetings and voting processes[119] - The company has a dedicated investor relations management team to facilitate communication and ensure timely information disclosure[125] - The company has a complete and independent organizational structure, with decision-making bodies such as the shareholders' meeting, board of directors, and supervisory board established according to the Company Law and Articles of Association[129] Employee Management - The total number of employees at the end of the reporting period is 631, with 405 in the parent company and 226 in major subsidiaries[160] - The professional composition includes 301 technical personnel, 51 financial personnel, and 118 management personnel[160] - The company has established a profit distribution policy, ensuring that cash dividends will constitute at least 80% of profit distribution when in a mature stage without major capital expenditures[165] Future Outlook - In 2022, the company aims to achieve a revenue of 2.1 billion yuan and an operating profit of 120 million yuan, although this forecast is subject to macroeconomic conditions and market changes[100] - The company plans to complete an investment of 150 billion yuan in highway and waterway construction in Sichuan Province in 2022, with a target of building 500 kilometers of expressways[97] - The company aims to build a comprehensive management platform to optimize internal processes and enhance project oversight[108] - The company plans to adopt a "differentiated" and "regional" competition strategy to mitigate the impact of intense industry competition[110] Legal Matters - The company faced a lawsuit related to construction damages amounting to 1.1373 million yuan, which was settled through mediation[198] - A total of ¥87,616,979.10 was claimed from Sichuan Wenma Expressway Co., Ltd. for the Wenchuan to Ma'erkang Expressway project, with the court ruling in favor of the company[200] - The company is pursuing a claim of ¥809.75 million against Dao Tunnel Group Engineering Co., Ltd. and Sichuan Yakang Expressway Co., Ltd. for the Yakang Expressway LM1 contract segment, currently in the first instance[200]

[Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) This report emphasizes that the board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, and states that the financial information has not been audited - The board of directors, supervisory board, and senior management guarantee the report's truthfulness, accuracy, and completeness, and assume legal responsibility[2](index=2&type=chunk)[3](index=3&type=chunk) - The company's head, the person in charge of accounting, and the head of the accounting department declare that the financial information in the quarterly report is true, accurate, and complete[3](index=3&type=chunk) - This third-quarter report is unaudited[4](index=4&type=chunk) [I. Major Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) This chapter outlines the company's key financial performance at the end of the reporting period and from the beginning of the year to the end of the reporting period, including changes in operating revenue, net profit, and cash flow, detailing non-recurring gains and losses and their impact on net profit, and explaining the reasons for changes in major accounting data and financial indicators [Major Accounting Data and Financial Indicators](index=1&type=section&id=%28%E4%B8%80%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company's operating revenue decreased by **29.10%** year-on-year, and net profit attributable to shareholders significantly decreased by **94.83%**; from the beginning of the year to the end of the reporting period, operating revenue decreased by **14.08%** year-on-year, but net profit attributable to shareholders increased by **1.78%**, and non-recurring net profit increased by **52.55%**; net cash flow from operating activities was negative but improved by **41.56%** year-on-year Major Financial Indicators for the Current Reporting Period and Year-to-Date | Indicator | Current Reporting Period | YoY Change in Current Reporting Period | Year-to-Date | YoY Change in Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 287,574,979.48 | -29.10% | 1,170,531,066.82 | -14.08% | | Net Profit Attributable to Shareholders (CNY) | 924,302.56 | -94.83% | 59,956,030.19 | 1.78% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (CNY) | 1,396,222.25 | -91.04% | 86,350,681.84 | 52.55% | | Net Cash Flow from Operating Activities (CNY) | —— | —— | -497,641,075.99 | 41.56% | | Basic Earnings Per Share (CNY/share) | 0.002 | -90.00% | 0.11 | 37.50% | | Diluted Earnings Per Share (CNY/share) | 0.002 | -90.00% | 0.11 | 37.50% | | Weighted Average Return on Net Assets | 0.05% | -0.58% | 2.96% | 0.85% | Balance Sheet Indicators at the End of the Current Reporting Period and Previous Year-End | Indicator | End of Current Reporting Period | End of Previous Year | Change from Previous Year-End | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 7,832,674,963.62 | 7,733,050,927.61 | 1.29% | | Shareholders' Equity Attributable to Listed Company (CNY) | 2,950,648,450.89 | 2,884,394,820.81 | 2.30% | [Non-Recurring Gains and Losses and Amounts](index=2&type=section&id=%28%E4%BA%8C%29%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses were negative **CNY 471,919.69**, and from the beginning of the year to the end of the reporting period, totaled negative **CNY 26,394,651.65**, primarily including gains and losses from disposal of non-current assets, government subsidies, and gains and losses from transactions with obviously unfair prices Non-Recurring Gains and Losses and Amounts | Item | Amount for Current Reporting Period (CNY) | Amount from Year-Beginning to End of Reporting Period (CNY) | | :--- | :--- | :--- | | Gains and losses from disposal of non-current assets | 17,341.55 | -38,210.18 | | Government subsidies recognized in current profit or loss | 3,500.00 | 58,811.00 | | Gains and losses from transactions with obviously unfair prices, exceeding fair value | | -27,734,420.66 | | Other non-operating income and expenses apart from the above | -491,369.16 | -2,839,638.94 | | Less: Income tax impact | 1,392.08 | -4,158,807.13 | | Total | -471,919.69 | -26,394,651.65 | [Changes in Major Accounting Data and Financial Indicators and Their Reasons](index=2&type=section&id=%28%E4%B8%89%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Several balance sheet, income statement, and cash flow statement items experienced significant changes this period; cash and cash equivalents decreased by **57.89%** due to operating cash outflows; long-term receivables significantly increased by **237.69%** primarily due to the reclassification of the Dazhou-Xuanhan Expressway project upon completion and acceptance; financial expenses grew by **81.70%** due to increased bank loans; and net cash flow from investing activities sharply declined by **328.99%** due to land payments for the Tianfu New Area headquarters office building - Cash and cash equivalents decreased by **57.89%** at period-end compared to period-beginning, primarily due to cash outflows from operating activities during the current period[9](index=9&type=chunk) - Long-term receivables increased by **237.69%** at period-end compared to period-beginning, primarily due to the reclassification of the Dazhou-Xuanhan Expressway project from other non-current assets upon completion and acceptance[9](index=9&type=chunk) - Intangible assets increased by **3,436.65%** at period-end compared to period-beginning, primarily due to the acquisition of land use rights for the Tianfu New Area headquarters office building during the current period[10](index=10&type=chunk) - Financial expenses increased by **81.70%** this period compared to the previous period, primarily due to an increase in bank loans during the current period[10](index=10&type=chunk) - Net cash flow from investing activities decreased by **328.99%** this period compared to the previous period, primarily due to land payments for the Tianfu New Area headquarters office building during the current period[11](index=11&type=chunk) - Net cash flow from financing activities decreased by **83.55%** this period compared to the previous period, primarily due to a decrease in new bank loans compared to the same period last year[11](index=11&type=chunk) [II. Shareholder Information](index=4&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) As of the end of the reporting period, the company had **38,771** common shareholders; among the top ten shareholders, Sichuan Hongyi Jiahua Industrial Co., Ltd. held the largest stake at **24.01%**, with some of its shares frozen; some shareholders have related party relationships or act in concert and participate in margin trading and securities lending [Total Number of Common Shareholders and Shareholding of Top Ten Shareholders](index=4&type=section&id=%28%E4%B8%80%29%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) At the end of the reporting period, the total number of common shareholders was **38,771**; among the top ten shareholders, Sichuan Hongyi Jiahua Industrial Co., Ltd. held **24.01%** of shares, with **96,148,478** shares frozen; Sichuan Daochengli Industrial Investment Co., Ltd., Chengdu Jiangkai Real Estate Co., Ltd., and Zhou Weigang are acting in concert - The total number of common shareholders at the end of the reporting period was **38,771**[13](index=13&type=chunk) Shareholding of Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | Number of Restricted Shares Held | Pledge, Mark, or Freeze Status | Quantity | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Sichuan Hongyi Jiahua Industrial Co., Ltd. | Domestic Non-State-Owned Legal Person | 24.01% | 182,148,478 | | Frozen | 96,148,478 | | Sichuan Daochengli Industrial Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 2.18% | 16,561,388 | | | | | Chengdu Jiangkai Real Estate Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.92% | 14,600,000 | | | | | Qiu Hongmei | Domestic Natural Person | 1.11% | 8,402,818 | | | | | Zhou Weigang | Domestic Natural Person | 0.83% | 6,295,752 | 120,000 | | | | Na Tianrui | Domestic Natural Person | 0.69% | 5,262,400 | | | | | Shui Guoxia | Domestic Natural Person | 0.63% | 4,816,800 | | | | | Liao Kaiming | Domestic Natural Person | 0.55% | 4,205,260 | | | | | Yang Zejiang | Domestic Natural Person | 0.54% | 4,095,684 | | | | | Wang Yugong | Domestic Natural Person | 0.53% | 3,995,160 | | | | - Sichuan Daochengli Industrial Investment Co., Ltd., Chengdu Jiangkai Real Estate Co., Ltd., and Zhou Weigang are acting in concert[14](index=14&type=chunk) - Some of the top 10 shareholders hold company shares through credit trading guarantee securities accounts and participate in margin trading and securities lending businesses[14](index=14&type=chunk) [Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred Shareholders](index=5&type=section&id=%28%E4%BA%8C%29%E5%85%AC%E5%8F%B8%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%8F%8A%E5%89%8D%2010%20%E5%90%8D%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) The company has no preferred shareholders - The company has no preferred shareholders[15](index=15&type=chunk) [III. Other Important Matters](index=5&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) The company has no other important matters to disclose during the reporting period - The company has no other important matters to disclose[15](index=15&type=chunk) [IV. Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This chapter provides the company's consolidated balance sheet as of September 30, 2021, consolidated income statement and consolidated cash flow statement from the beginning of the year to the end of the reporting period, and explains the adjustments made to the opening financial statements upon initial adoption of the new leasing standards [Financial Statements](index=5&type=section&id=%28%E4%B8%80%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section details the company's consolidated balance sheet as of September 30, 2021, and consolidated income statement and consolidated cash flow statement from the beginning of the year to the end of the reporting period, reflecting the company's financial position, operating results, and cash flows at the end of the reporting period [Consolidated Balance Sheet](index=5&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2021, the company's total assets were **CNY 7,832,674,963.62**, an increase of **1.29%** from the end of the previous year; total current assets were **CNY 3,462,052,179.82**, and total non-current assets were **CNY 4,370,622,783.80**; total liabilities were **CNY 4,807,696,159.53**, and total owners' equity was **CNY 3,024,978,804.09** Key Consolidated Balance Sheet Data (September 30, 2021 vs December 31, 2020) | Item | September 30, 2021 (CNY) | December 31, 2020 (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Total Assets | 7,832,674,963.62 | 7,733,050,927.61 | 1.29% | | Total Current Assets | 3,462,052,179.82 | 3,694,682,026.04 | -6.30% | | Total Non-Current Assets | 4,370,622,783.80 | 4,038,368,901.57 | 8.23% | | Total Liabilities | 4,807,696,159.53 | 4,773,394,675.65 | 0.72% | | Total Owners' Equity | 3,024,978,804.09 | 2,959,656,251.96 | 2.21% | - Long-term receivables increased from **CNY 986 million** to **CNY 3.329 billion**, a **237.69%** increase, primarily due to the reclassification of the Dazhou-Xuanhan Expressway project upon completion and acceptance[16](index=16&type=chunk)[9](index=9&type=chunk) - Intangible assets increased from **CNY 2.04 million** to **CNY 72.23 million**, a **3,436.65%** increase, primarily due to the acquisition of land use rights for the Tianfu New Area headquarters office building[17](index=17&type=chunk)[10](index=10&type=chunk) [Consolidated Income Statement from Year-Beginning to End of Reporting Period](index=8&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) From the beginning of the year to the end of the reporting period, the company's total operating revenue was **CNY 1,170,531,066.82**, a year-on-year decrease of **14.08%**; net profit was **CNY 59,024,952.24**, a slight year-on-year decrease; financial expenses significantly increased by **81.70%** due to increased bank loans Key Consolidated Income Statement Data (Year-Beginning to End of Reporting Period) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,170,531,066.82 | 1,362,394,743.25 | -14.08% | | Total Operating Costs | 1,323,512,763.55 | 1,455,678,736.51 | -9.08% | | Financial Expenses | 128,298,702.10 | 70,609,569.57 | 81.70% | | Operating Profit | 70,924,562.60 | 81,191,433.64 | -12.65% | | Total Profit | 68,070,820.77 | 81,058,391.34 | -16.02% | | Net Profit | 59,024,952.24 | 61,200,514.71 | -3.56% | | Net Profit Attributable to Parent Company Owners | 59,956,030.19 | 58,907,484.55 | 1.78% | | Basic Earnings Per Share (CNY) | 0.11 | 0.08 | 37.50% | - Financial expenses significantly increased by **81.70%**, primarily due to an increase in bank loans during the current period[20](index=20&type=chunk)[10](index=10&type=chunk) - Credit impairment losses for the current period were **CNY 70,747,065.60**, a significant increase from **CNY 26,319,668.73** in the prior period, primarily due to better collections this period, leading to a reversal of credit impairment losses according to accounting policies[21](index=21&type=chunk)[10](index=10&type=chunk) [Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period](index=10&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) From the beginning of the year to the end of the reporting period, net cash flow from operating activities was **-CNY 497,641,075.99**, a **41.56%** year-on-year improvement, mainly due to reduced project expenditures; net cash flow from investing activities was **-CNY 71,399,420.79**, a significant year-on-year decrease of **328.99%**, primarily impacted by land payments for the Tianfu New Area headquarters office building; net cash flow from financing activities was **CNY 97,129,965.23**, a year-on-year decrease of **83.55%**, mainly due to reduced new bank loans Key Consolidated Cash Flow Statement Data (Year-Beginning to End of Reporting Period) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -497,641,075.99 | -851,587,854.97 | 41.56% | | Net Cash Flow from Investing Activities | -71,399,420.79 | 31,180,711.99 | -328.99% | | Net Cash Flow from Financing Activities | 97,129,965.23 | 590,550,782.99 | -83.55% | | Net Increase in Cash and Cash Equivalents | -471,910,531.55 | -229,856,359.99 | -105.31% | | Cash and Cash Equivalents at Period-End | 331,481,720.39 | 555,139,597.56 | -40.29% | - Net cash flow from operating activities improved by **41.56%** year-on-year, primarily due to a decrease in project expenditures compared to the same period last year[23](index=23&type=chunk)[10](index=10&type=chunk) - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets significantly increased by **863.72%**, primarily due to land payments for the Tianfu New Area headquarters office building during the current period[23](index=23&type=chunk)[10](index=10&type=chunk) - Net cash flow from financing activities decreased by **83.55%** year-on-year, primarily due to a decrease in new bank loans compared to the same period last year[23](index=23&type=chunk)[11](index=11&type=chunk) [Explanation of Financial Statement Adjustments](index=12&type=section&id=%28%E4%BA%8C%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E8%B0%83%E6%95%B4%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company first adopted the new leasing standards starting in 2021, adjusting relevant items in the opening financial statements as of January 1, 2021, primarily involving changes in right-of-use assets, long-term deferred expenses, non-current liabilities due within one year, and lease liabilities - The company first adopted the new leasing standards starting in 2021 and adjusted the opening financial statements as of January 1, 2021[24](index=24&type=chunk) Impact of New Leasing Standards Adjustments on Opening Balance Sheet | Item | December 31, 2020 (CNY) | January 01, 2021 (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Right-of-use assets | | 12,755,048.14 | 12,755,048.14 | | Long-term deferred expenses | 4,036,543.63 | 4,008,030.93 | -28,512.70 | | Non-current liabilities due within one year | 108,455,595.35 | 112,877,153.44 | 4,421,558.09 | | Lease liabilities | | 8,304,977.35 | 8,304,977.35 | | Total Assets | 7,733,050,927.61 | 7,745,777,463.05 | 12,726,535.44 | | Total Liabilities | 4,773,394,675.65 | 4,786,121,211.09 | 12,726,535.44 | - The company did not retrospectively adjust prior period comparative data[28](index=28&type=chunk) [Audit Report](index=14&type=section&id=%28%E4%B8%89%29%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's third-quarter report is unaudited - The company's third-quarter report is unaudited[28](index=28&type=chunk)