The Semi-Annual Finicial Report 2025 Guangdong Provincial Expressway Development Co., Ltd. The Semi-Annual Finicial Report 2025 I. Audit report Has this semi-annual report been audited? □Yes √No The semi-annual report was not audited. II. Financial statements Currency unit for the statements in the notes to these financial statements: RMB 1. Consolidated balance sheet Prepared by: Guangdong Provincial Expressway Development Co.,Ltd. June 30,2025 The Semi-Annual Finicial Report 2025 August 2025 In RMB 1 The ...

Core Viewpoint - Guangdong Provincial Highway Development Co., Ltd. has approved a loan agreement with Ganzhou Gankang Highway Co., Ltd. for up to 45 million yuan to supplement its working capital, with a fixed interest rate of 2.6% and a repayment period of one year [3][11][12]. Group 1: Board Meeting Details - The 30th (temporary) meeting of the 10th Board of Directors was held on July 24, 2025, via telecommunication voting, with all 13 directors present, meeting the legal requirements [2]. - The meeting approved the loan agreement as an associated transaction, with no directors needing to abstain from voting [4][5]. Group 2: Loan Agreement Specifics - The loan amount is capped at 45 million yuan, with a one-year term starting from the date of receipt, and a fixed interest rate of 2.6% [3][18]. - The company can repay the loan principal and interest in full or in part at any time without conditions [3][18]. Group 3: Financial Impact and Compliance - The total amount of this associated transaction, including estimated interest, does not exceed 46.17 million yuan, representing 0.44% of the company's equity attributable to shareholders as of the end of 2024, which is 10.468 billion yuan [12]. - The transaction does not constitute a major asset restructuring as defined by relevant regulations [13]. Group 4: Independent Directors' Opinion - Independent directors have reviewed the loan agreement and concluded that it adheres to principles of openness, fairness, and justice, benefiting the company's cash flow management and not harming the interests of minority shareholders [19].

Meeting Details - The annual general meeting of Guangdong Provincial Highway Development Co., Ltd. is scheduled for May 21, 2025, at 3:00 PM [1] - The meeting will be held at the company's conference room located at 32 Zhujiang East Road, Guangzhou [3] - The meeting will combine on-site voting and online voting [4] Attendance - A total of 249 shareholders and their proxies attended the meeting, representing 1,286,824,551 shares, which is 61.5468% of the total voting shares [6] - Among them, 47 attended the on-site meeting, representing 1,068,226,276 shares (51.0916% of total voting shares), while 202 participated via online voting, representing 218,598,275 shares (10.4552% of total voting shares) [6] Proposal Voting Results - The proposal for the 2024 financial settlement report was approved with 1,286,643,751 votes in favor, accounting for 99.9860% of the votes cast [9] - The proposal for the 2024 profit distribution plan received 1,286,746,751 votes in favor, representing 99.9940% [12] - The proposal for the 2025 comprehensive budget was approved with 1,253,127,803 votes in favor, which is 97.3814% [16] - The proposal for the 2024 board of directors' work report was approved with 1,286,643,551 votes in favor, accounting for 99.9859% [19] - The proposal for the 2024 supervisory board work report received 1,286,643,051 votes in favor, representing 99.9859% [22] - The proposal for the 2024 annual report and its summary was approved with 1,286,644,151 votes in favor, accounting for 99.9860% [25] - The proposal for the 2025 investment plan received 1,250,074,212 votes in favor, which is 97.1441% [27] - The proposal for increasing investment in the Ji Guang Expressway project was approved with 253,740,860 votes in favor, representing 99.8679% [28] - The proposal for issuing medium-term notes received 1,286,675,251 votes in favor, accounting for 99.9884% [29] Legal Opinions - The legal opinions provided by Guangdong Lianyue Law Firm confirmed that the meeting's procedures and voting results comply with relevant laws and regulations [33] Future Meetings - The company will hold its first temporary shareholders' meeting on June 6, 2025, at 3:30 PM [74] - The meeting will also utilize a combination of on-site and online voting [76]

Meeting Announcement - The company will hold an earnings briefing on May 16, 2025, from 15:00 to 17:00 on the "Panorama Network" platform to discuss its performance for the fiscal year 2024 and the first quarter of 2025 [1][2] - The company's annual report for 2024 and the quarterly report for Q1 2025 have been published in various financial newspapers and on the official website [1] Participation Details - Investors can participate in the earnings briefing by logging into the "Investor Interaction Platform" on the Panorama Network during the specified time [1] - The company is inviting investors to submit questions in advance to enhance the relevance of the discussion, with a deadline for submissions set for May 15, 2025, at 12:00 [1] Contact Information - Contact person for the event is Huaxia, with a phone number provided for inquiries [2]

Group 1: Company Overview and Financial Performance - The company reported a significant decline in toll revenue for the Guangzhu East section due to the opening of the Shenzhen-Zhongshan Channel, with expected continued impact into 2025 [1] - The financing cost for the company as of December 31, 2024, is estimated to be in the range of 2.20% to 2.80% [2] - The company has a dividend policy that mandates a cash distribution of at least 70% of the net profit attributable to the parent company for the years 2024 to 2026, provided there are no major investment plans or cash expenditures [2] Group 2: Infrastructure Development and Expansion Projects - The expansion of the Jingzhu Expressway (Guangzhu section) is set to be completed by 2027, with one segment already finished in September 2024 [1] - The Jiangzhong Expressway expansion has been fully completed and is currently undergoing a fee adjustment application [1] - The Guanghui Expressway expansion project has received approval from the provincial development and reform commission and is expected to commence in 2025 with a projected duration of 5 years [2]

CONTENTS 目录 | 可持续发展治理 | 13 | | --- | --- | | ESG治理体系 | 13 | | 可持续发展目标 | 14 | | 利益相关方沟通 | 16 | | 实质性议题 | 17 | | 关于本报告 | 01 | | --- | --- | | 董事长致辞 | 03 | | 2024年可持续发展亮点 | 04 | | 走进粤高速 | 05 | | 公司简介 | 05 | | 发展历程 | 07 | | 专题聚焦 | 09 | | 数智赋能新动力，创新驱动新未来 | 09 | | 坚守法规底线 | | | --- | --- | | 构建坚实基础 | 19 | | 治理架构 | 21 | | 三会运作 | 21 | | 合规内控 | 23 | | 信披与投关管理 | 27 | | 股东与债权人权益保护 | 28 | | 商业道德 | 29 | | 党建凝聚力量 | | | --- | --- | | 夯实兴企根基 | 31 | | 党委组织 | 33 | | 党的建设 | 34 | | 反腐倡廉 | 36 | | 践行绿色理念 | | | --- | --- | | 呵护地球家 ...

证券简称：粤高速 A 、粤高速 B 证券代码：000429、200429 公告编号：2025-005 广东省高速公路发展股份有限公司 1 （二）预计日常关联交易类别和金额 单位：万元 2025 年度日常关联交易预计公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、 日常关联交易基本情况 （一）日常关联交易概述 1、广东省高速公路发展股份有限公司（以下简称"本公司"）于 2025 年 3 月 3 日召开的第十届董事会第二十七次会议审议通过了《关于 2025 年度预计日 常关联交易的议案》，同意公司本部、分公司及全资、控股子公司 2025 年度预 计日常关联交易，交易金额总计不超过 7,823.20 万元。关联董事程锐先生、邬贵 军先生、曾志军先生、姚学昌先生回避了表决，表决结果：赞成 9 票，反对 0 票，弃权 0 票。 2、2025 年度日常关联交易预计金额为 7,823.20 万元，占本公司 2024 年末 归属于上市公司股东的所有者权益 1,046,810.03 万元的 0.75%。过去十二个月， 公司及控股子公司与广东省交通集团有限公司及其控股或 ...

证券简称：粤高速 A 、粤高速 B 证券代码： 000429、 200429 公告编号： 2025-008 广东省高速公路发展股份有限公司 关于 2024 年度利润分配预案的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、审议程序 2025 年 3 月 3 日，广东省高速公路发展股份有限公司（以下简称"公司"） 第十届董事会第二十七次会议审议通过了《关于 2024 年度利润分配预案的议案》， 表决结果：赞成 13 票，反对 0 票，弃权 0 票。 本议案尚需提交公司 2024 年年度股东大会审议。 二、利润分配预案的基本情况 经永拓会计师事务所（特殊普通合伙）审计，公司 2024 年度合并财务报表 归属于母公司股东的净利润为 1,562,122,219.95 元，母公司净利润为 1,634,601,993.02 元。 根据《公司章程》《未来三年股东回报规划（2024 年度-2026 年度）》等相 关制度，以及公司 2025 年的资金安排，公司拟在提取 10%的法定盈余公积 163,460,199.30 元后以现金方式进行 2024 年度的利润分配：以 ...

广东省高速公路发展股份有限公司 证券简称：粤高速 A 、粤高速 B 证券代码：000429、200429 公告编号：2024-025 关于对 2008 年度非居民企业 B 股股东股利分派应补缴企业 所得税的后续公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 本公司分别于 2010 年 12 月 8 日、2014 年 1 月 23 日、2015 年 11 月 28 日、 2016 年 4 月 20 日、2017 年 12 月 8 日、2018 年 9 月 28 日、2019 年 9 月 17 日、 2020 年 9 月 25 日、2021 年 10 月 8 日、2022 年 10 月 10 日和 2023 年 10 月 31 日刊登了《关于对 2008 年度非居民企业 B 股股东股利分派应补缴企业所得税的 公告》。截至 2024 年 10 月 10 日，部分股东向我司补缴了税金共计人民币 359,952.03 元，仍有股东未向我司补缴税金共计人民币 301,563.42 元。 根据《国家税务总局关于非居民企业取得 B 股等股票股息征收企业所得税问 题的批复 ...

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,230,865,662.20, representing a decrease of 4.68% compared to CNY 2,340,436,775.08 in the same period of 2023[11]. - The net profit attributable to shareholders of the listed company was CNY 855,465,441.00, down 3.41% from CNY 885,644,187.99 year-on-year[11]. - The net cash flow from operating activities decreased by 20.39%, amounting to CNY 1,603,256,009.68 compared to CNY 2,013,917,191.70 in the previous year[11]. - The basic earnings per share for the reporting period was CNY 0.41, a decrease of 2.38% from CNY 0.42 in the same period last year[11]. - The weighted average return on equity was 8.45%, down from 9.30% in the previous year[11]. - The company reported a significant decrease in non-operating income, with a total impact of CNY -28,393,962.20 from non-recurring gains and losses[13]. - The company reported a significant decrease in cash and cash equivalents, with a net increase of CNY 253,713,946.26, down 74.37% from CNY 990,085,036.42 in the previous year[20]. - The company reported a net profit after deducting non-recurring gains and losses decreased by 3.26% from CNY 91,368.36 million to CNY 88,385.94 million compared to the same period last year[78]. - The company reported a total cash balance of CNY 4,978,196,775.29, an increase from CNY 4,718,631,732.20 at the beginning of the period[80]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 22,379,416,869.63, an increase of 4.73% from CNY 21,368,963,167.41 at the end of the previous year[11]. - The total amount of financial assets at fair value at the end of the reporting period was ¥1,804,639,880.34, with a significant portion in other equity instruments[25]. - The company's total liabilities increased significantly, with debt repayment cash outflow reaching ¥723,987,150.00, compared to ¥25,339,650.00 in the previous year[94]. - The total liabilities of the company at the end of the reporting period are CNY 1,846,678,842.44[102]. - The company's current ratio decreased by 45.03% from 3.22 to 1.77 compared to the end of the previous year[78]. - The debt-to-asset ratio increased by 3.38% from 41.93% to 45.31% compared to the end of the previous year[78]. Investments and Capital Expenditures - The total investment amount for the reporting period was ¥740,451,816.75, representing a 24.95% increase compared to ¥592,619,036.60 in the same period last year[27]. - Investment activities resulted in a net cash outflow of CNY -1,020,320,728.55, a 60.78% increase in outflow compared to the previous year, attributed to increased investment in the expansion of Guangao Expressway[20]. - The company has made significant equity investments totaling ¥173,500,000.00 during the reporting period, with notable investments in Guangdong Jiangzhong Expressway Co., Ltd. and Zhaoqing Yuezhong Expressway Co., Ltd.[29]. Shareholder Information - The company plans not to distribute cash dividends or bonus shares, nor to increase capital from reserves[2]. - The company has maintained a cash dividend policy since its listing in 1996, with a cumulative dividend payout of 10.162 billion yuan, and plans to distribute 70% of the annual net profit to shareholders starting from 2016[40]. - The total number of shares before the recent change was 2,090,806,126, with 20.99% being restricted shares[65]. - The total number of shareholders at the end of the reporting period was 51,839, with no significant changes reported[69]. Operational Highlights - The company operates a total of 306.78 kilometers of controlled highways, benefiting from the steady economic growth in Guangdong Province, leading to increased traffic volume on its highways[40]. - The company has maintained a strong competitive position due to its strategic locations and the robust economic growth in Guangdong, which supports stable traffic demand[17]. - The company is committed to digital transformation, enhancing smart traffic infrastructure, and increasing safety investments to improve operational efficiency[40]. - The company has implemented policies to exempt tolls for small passenger vehicles during major holidays, contributing to reduced transportation costs for the public[48]. Financial Management and Compliance - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements reflect its financial position, operating results, and cash flows accurately[119]. - The company has the ability to continue operations for at least 12 months from the reporting date without any significant issues affecting its ongoing viability[118]. - The company has not faced any administrative penalties for environmental issues during the reporting period[47]. - The financial report includes the company and its wholly-owned subsidiary, Yuegao Capital Holdings (Guangzhou) Co., Ltd., along with several controlled subsidiaries[114]. Credit Risk and Provisions - The provision for bad debts amounted to CNY 5,021.16 million, representing 3.67% of total accounts receivable[183]. - The company follows the expected credit loss model for provisioning, with provisions categorized into three stages based on credit risk[200]. - The expected credit loss rate for accounts receivable aged 1-2 years is 10%[142]. - The expected credit loss rate for accounts receivable aged 2-3 years is 30%[142]. - The company has no significant write-offs of accounts receivable during the period[185].