Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,057,420,809.68, a decrease of 17.32% compared to CNY 2,488,474,669.81 in the same period last year[26]. - Net profit attributable to shareholders was CNY 773,786,851.68, down 8.84% from CNY 848,860,350.64 year-on-year[26]. - The net cash flow from operating activities decreased by 20.48% to CNY 1,443,551,266.30, compared to CNY 1,815,293,217.25 in the previous year[26]. - Basic earnings per share were CNY 0.37, a decline of 9.76% from CNY 0.41 in the same period last year[26]. - The total comprehensive income for the first half of 2022 was CNY 1,026,680,100.83, a decrease from CNY 1,164,929,452.39 in the first half of 2021[184]. - The net profit after deducting non-recurring gains and losses was 743.09 million RMB, a decrease of 11.82% compared to the same period last year[157]. - The company reported a basic earnings per share of CNY 0.37 for the first half of 2022, compared to CNY 0.41 in the same period of the previous year[184]. Assets and Liabilities - Total assets increased by 4.56% to CNY 19,737,220,017.64 from CNY 18,875,766,799.31 at the end of the previous year[26]. - The net assets attributable to shareholders decreased by 4.82% to CNY 8,549,301,415.60 from CNY 8,982,437,985.17 at the end of the previous year[26]. - Current liabilities totaled ¥2,538,032,275.16, significantly higher than ¥1,163,336,681.35 at the beginning of the year, indicating a rise of approximately 118.5%[168]. - The total liabilities increased to ¥8,859,503,595.52 from ¥7,554,777,641.18, indicating a rise of about 17.3%[168]. - The total equity as of June 30, 2022, was CNY 8,607,122,573.51, down from CNY 8,849,719,956.95 at the beginning of the year, indicating a decrease of about 2.7%[178]. Cash Flow - The company reported a cash flow from operating activities of approximately CNY 1.44 billion, down 20.48% year-on-year, attributed to decreased toll revenue[44]. - Cash flow from operating activities was CNY 1,443.55 million, down 20.5% from CNY 1,815.29 million in the first half of 2021[197]. - The company's cash and cash equivalents increased to approximately 4.04 billion RMB from 2.96 billion RMB at the beginning of the year[161]. - The company's cash and cash equivalents at the end of the first half of 2022 totaled CNY 4,042.99 million, an increase from CNY 3,566.08 million at the end of the first half of 2021[200]. Revenue Sources - Revenue from highway transportation accounted for 98.16% of total revenue, amounting to ¥2,019,631,631.41, down 17.25% year-on-year[48]. - The revenue from the Guangfo Expressway dropped by 69.88% to ¥64,781,007.00 due to the cessation of tolls since March 3, 2022[48]. - Traffic volume on the Guangfo Expressway decreased by 4.69% year-on-year to 36,349,485 vehicles, with toll revenue dropping by 69.88% to CNY 64.78 million[39]. - The traffic volume on the Huizhou-Yanjiang Expressway fell by 17.25% to 21,272,389 vehicles, with toll revenue decreasing by 16.91% to CNY 96.90 million[42]. Investments and R&D - The company invested CNY 1.37 million in R&D, focusing on projects such as the "Intelligent Toll Station Unmanned System" and "Key Technologies for In-Situ Thermal Regeneration of Road Surface"[44]. - The company approved an investment of ¥250,000,000.00 during the reporting period, marking a 100% increase compared to the previous year[61]. - The company plans to invest ¥95,000,000.00 in Shenzhen Garage Electric Pile Technology Co., Ltd. through its wholly-owned subsidiary[61]. Shareholder Information - The largest shareholder, Guangdong Provincial Transportation Group Co., Ltd., holds 24.56% of the shares, totaling 513,485,480 shares[132]. - The second-largest shareholder, Guangdong Provincial Highway Construction Co., Ltd., holds 22.30% of the shares, totaling 466,325,020 shares[132]. - The total number of shares before the change was 2,090,806,126, with a breakdown of 21.01% as restricted shares and 78.99% as unrestricted shares[127]. - The number of restricted shares decreased by 421,322, resulting in a total of 438,833,395 restricted shares, which is 20.98% of the total[127]. Operational Challenges - The company experienced a significant decline in traffic volume in the first four months due to economic slowdown and pandemic-related restrictions, but a recovery trend was noted starting in May[43]. - The company faced risks related to toll pricing adjustments, which are subject to government approval, impacting revenue from expressway tolls[78]. - The company actively participated in pandemic prevention efforts, ensuring road safety and smooth traffic flow during the reporting period[90]. Cost Management - The company’s management expenses decreased by 8.12% to CNY 85.77 million, indicating cost control measures[44]. - The company reported a decrease in sales expenses and management expenses, indicating improved cost management strategies[189].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 1,485,357,499.71, representing a 9.17% increase compared to the same period last year[3] - The net profit attributable to shareholders for Q3 2021 was CNY 545,389,653.71, a 30.87% increase year-over-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 537,138,406.69, reflecting a 54.08% increase compared to the previous year[3] - The basic earnings per share for Q3 2021 was CNY 0.26, up 30.00% from CNY 0.17 in the same period last year[3] - Total operating revenue for Q3 2021 reached CNY 3,973,832,169.52, a significant increase of 60.5% compared to CNY 2,478,393,698.83 in Q3 2020[19] - Net profit for Q3 2021 was CNY 1,958,231,580.02, up 166.5% from CNY 737,534,547.82 in the same period last year[19] - Earnings per share (EPS) for Q3 2021 was CNY 0.67, compared to CNY 0.21 in Q3 2020, reflecting a 218.6% increase[21] - The company reported a total comprehensive income of CNY 1,858,406,876.53 for Q3 2021, compared to CNY 601,665,067.59 in Q3 2020, reflecting a growth of 208.5%[21] Cash Flow and Investments - The cash flow from operating activities for the year-to-date period reached CNY 2,887,881,056.07, a 65.51% increase compared to the same period last year[3] - The company experienced a 64.81% increase in cash received from sales and services, totaling CNY 158,190,000 compared to the previous year[10] - Investment income for Q3 2021 was CNY 234,939,726.54, a substantial increase of 83.0% from CNY 128,380,551.71 in Q3 2020[19] - Cash flow from operating activities totaled CNY 4,127,585,148.21, compared to CNY 2,577,193,273.74 in the previous year, marking a 60.2% increase[21] - Cash inflow from investment activities amounted to CNY 133,089,518.69, slightly down from CNY 134,121,195.32, a decrease of 0.77%[23] - Cash outflow for investment activities was CNY 332,328,680.50, down from CNY 431,158,549.02, indicating a reduction of 23%[23] - Net cash flow from operating activities was CNY 2,887,881,056.07, up from CNY 1,744,873,659.92, representing a growth of 65%[23] Assets and Liabilities - The total assets as of the end of the reporting period were CNY 19,748,578,658.11, a decrease of 3.66% compared to the beginning of the year[3] - Total current assets as of September 30, 2021, amounted to ¥3,240,787,328.61, an increase from ¥3,086,423,799.07 as of December 31, 2020[15] - Long-term equity investments increased to ¥2,492,069,216.09 from ¥2,382,381,165.60 year-over-year[15] - Total liabilities as of September 30, 2021, were ¥925,108,095.71, a decrease from ¥2,595,655,134.43 at the end of 2020[15] - Total liabilities decreased to CNY 7,979,314,486.50 from CNY 9,516,262,073.83, a reduction of 16.2% year-over-year[19] - Total liabilities increased from CNY 9,516,262,073.83 to CNY 9,537,631,969.58, an increase of CNY 21,369,895.75[27] - Current liabilities rose from CNY 2,595,655,134.43 to CNY 2,604,779,815.29, an increase of CNY 9,124,680.86[27] - Non-current liabilities increased from CNY 6,920,606,939.40 to CNY 6,932,852,154.29, an increase of CNY 12,245,214.89[27] Shareholder Information - Total number of common shareholders at the end of the reporting period was 50,140[11] - Guangdong Provincial Highway Construction Co., Ltd. holds 24.56% of shares, totaling 513,420,438 shares[11] - Shandong Expressway Investment Development Co., Ltd. holds 22.30% of shares, totaling 466,325,020 shares[11] Other Information - The company has no reported financing or margin trading activities among the top ten shareholders[13] - The company has not audited the third-quarter report[29] - The company has implemented new leasing standards starting from 2021[29]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,488,474,669.81, representing a 122.63% increase compared to the same period last year[24]. - The net profit attributable to shareholders was CNY 848,860,350.64, a significant increase of 3,348.35% year-on-year[24]. - The net cash flow from operating activities reached CNY 1,815,293,217.25, up 155.80% from the previous year[24]. - Basic earnings per share were CNY 0.41, compared to a loss of CNY 0.0028 in the same period last year, marking a 4,000.00% increase[24]. - The company reported a net profit excluding non-recurring gains and losses of CNY 842,743,158.64, an increase of 8,957.26% year-on-year[24]. - The total comprehensive income for the first half of 2021 was CNY 1,164,929,452.39, compared to a loss of CNY 27,059,956.69 in the first half of 2020[156]. - The total profit for the first half of 2021 was ¥990,092,634.68, representing a 204.0% increase from ¥325,357,426.65 in the first half of 2020[160]. - The company's total operating costs for the first half of 2021 were CNY 1,114,434,707.99, compared to CNY 982,301,522.18 in the first half of 2020, representing an increase of approximately 13.5%[152]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 19,948,560,358.43, reflecting a 1.01% increase from the end of the previous year[24]. - The total liabilities as of June 30, 2021, amounted to CNY 8,526,275,225.85, slightly up from CNY 8,459,104,278.69 at the end of 2020[151]. - The company's total equity increased to CNY 8,288,232,334.33 as of June 30, 2021, compared to CNY 7,988,028,411.87 at the end of 2020, reflecting a growth of approximately 3.8%[151]. - The company's current ratio increased to 222.53% from 118.91% year-over-year, reflecting a 103.62% increase[131]. - The company's debt-to-asset ratio slightly decreased to 47.54% from 48.19%[131]. - The total non-current assets decreased to CNY 16,104,947,542.64 from CNY 16,662,154,859.04, indicating a decline of approximately 3.34%[144]. Revenue Sources - Revenue from highway transportation amounted to ¥2,440,717,934.74, accounting for 98.08% of total revenue, with a year-on-year growth of 131.17%[42]. - The total toll revenue from major highways increased significantly, with Guangfo Expressway toll revenue rising by 112.54% to CNY 21,506.82 million, and Fokai Expressway increasing by 138.58% to CNY 68,716.50 million[37]. - The company experienced a significant increase in toll revenue due to the resumption of normal toll collection after the COVID-19 pandemic[44]. Investment and Financial Strategy - The company did not make any significant equity investments during the reporting period, with total investments amounting to ¥0.00, a decrease of 100% from ¥80,000,000.00 in the previous year[50]. - The company plans to continue its financial service agreement with Guangdong Provincial Transportation Group Financial Co., increasing the credit limit for related enterprises to 4 billion CNY[61]. - The company has not issued new shares or conducted any share buybacks in the reporting period[105][107]. - The company is focused on maintaining its financial health while navigating market challenges and opportunities for growth[186]. Operational Efficiency - The company reported a significant increase in investment income, amounting to CNY 172,050,127.56, which is a 157.74% rise compared to CNY 66,754,110.72 from the previous year[40]. - The cash flow from operating activities for the first half of 2021 was ¥1,815,293,217.25, compared to ¥709,663,295.81 in the first half of 2020, indicating a growth of 156.5%[163]. - The increase in cash flow from operating activities suggests improved operational efficiency and revenue generation capabilities[169]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the first half of 2021[66]. - The company reported a total share count of 2,090,806,126, with 21.01% being restricted shares and 78.99% being unrestricted shares[105]. - The largest shareholder, Guangdong Provincial Transportation Group Co., Ltd., holds 24.56% of the shares, totaling 513,420,438 shares[107]. Social Responsibility and Compliance - The company actively fulfilled its social responsibilities during the pandemic, ensuring zero infections within its system while maintaining smooth road operations[71]. - The company does not belong to the key pollutant discharge units as per environmental protection department announcements[70]. - There were no significant lawsuits or arbitration matters during the reporting period[81]. Future Outlook - Future outlook suggests a focus on enhancing operational efficiency and exploring new revenue streams to recover from the current financial challenges[180]. - The company is focused on expanding its technological capabilities in intelligent transportation systems, which is a key area of development[199].