Financial Performance - The company's operating revenue for Q3 2023 was CNY 1,347,391,508.28, representing a 9.49% increase compared to CNY 1,230,638,061.98 in the same period last year[11] - Net profit attributable to shareholders for Q3 2023 was CNY 470,604,350.85, up 12.78% from CNY 417,932,338.24 in the previous year[11] - The net profit excluding non-recurring gains and losses for Q3 2023 was CNY 489,958,203.15, reflecting a 17.91% increase from CNY 416,174,263.76 in the same period last year[11] - Basic earnings per share for Q3 2023 was CNY 0.23, a 15.00% increase compared to CNY 0.200 in the same period last year[11] - The total operating revenue for the third quarter of 2023 was CNY 3,687,828,283.36, compared to CNY 3,288,058,871.66 in the same period last year, representing an increase of about 12.14%[41] - The company's net profit attributable to shareholders increased to CNY 5,159,412,870.99 as of September 30, 2023, compared to CNY 4,698,029,354.08 at the beginning of the year, marking a growth of around 9.83%[41] - Net profit for the current period was CNY 1,850,288,783.46, representing a rise of 11.6% from CNY 1,658,714,039.00 in the previous period[45] - Earnings per share (EPS) increased to CNY 0.65, compared to CNY 0.57 in the previous period, marking a growth of 14.0%[45] Cash Flow and Investments - Cash flow from operating activities for the year-to-date period reached CNY 2,993,108,067.10, a 25.61% increase from CNY 2,382,854,525.02 in the previous year[11] - Cash flow from operating activities generated CNY 2,993,108,067.10, an increase of 25.6% from CNY 2,382,854,525.02 in the previous period[49] - Cash outflow from investment activities was CNY 901,954,109.25, significantly higher than CNY 461,042,014.69 in the previous period[49] - Cash paid for investments decreased by 83.76 million yuan, a decline of 33.49%, due to lower cash payments for equity subscriptions compared to the previous year[25] - Cash received related to financing activities decreased by 51.97 million yuan, a drop of 96.13%, primarily due to a government subsidy received in the previous period[25] Assets and Liabilities - Total assets as of the end of the reporting period were CNY 20,267,197,153.88, marking a 4.73% increase from the previous year-end[11] - As of September 30, 2023, total assets reached CNY 21,227,017,215.39, an increase from CNY 20,267,998,963.78 at the beginning of the year, reflecting a growth of approximately 4.74%[39] - Non-current liabilities totaled CNY 7,137,193,548.53, a decrease from CNY 7,366,553,958.74 at the start of the year, reflecting a decline of about 3.12%[41] - The total liabilities as of September 30, 2023, were CNY 9,057,201,858.25, compared to CNY 8,899,319,781.11 at the beginning of the year, reflecting an increase of about 1.77%[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,872, with the largest shareholder, Guangdong Provincial Transportation Group Co., Ltd., holding 24.56% of the shares[29] - Shareholders' equity attributable to the parent company was CNY 9,075,877,244.12, up 5.14% from the previous year-end[11] Government Subsidies and Projects - The company received government subsidies amounting to CNY 185,000,000 for the construction of the Qijiang New Town South Interchange, contributing to a 281.29% increase in deferred income[20] - The company reported a significant increase in deferred income, which rose to CNY 232,888,314.06 from CNY 61,082,981.63, indicating a growth of approximately 281.36%[41] - The company plans to continue expanding its infrastructure projects, focusing on the Jingzhu Expressway and other key developments in the region[21] Research and Development - Research and development expenses decreased by 5.35 million yuan, a reduction of 89.02%, as the current projects are in the early stages[24] - The company invested CNY 659,839.82 in research and development during the third quarter, a decrease from CNY 6,013,278.70 in the same period last year, indicating a reduction of approximately 89.00%[41] Accounting and Reporting - The company has adopted new accounting standards starting from 2023, as per the announcement by the Ministry of Finance[51] - The third quarter report was not audited, as stated by the company's board of directors[52]

Financial Position - The total equity attributable to the parent company at the end of the reporting period is CNY 9,071,623,946.37, with a capital stock of CNY 2,090,806,126.00 and capital reserve of CNY 934,926,723.73[5] - The retained earnings at the end of the reporting period amount to CNY 1,193,084,201.46, indicating a significant portion of earnings retained for future growth[5] - The company has a total of CNY 934,926,723.73 in capital reserves, which can be utilized for future capital increases or other financial strategies[5] - The company reported a loss distribution of CNY -1,191,759,491.82, which includes a minority interest of CNY -316,751,982.19, resulting in a total loss of CNY -1,508,511,474.01[2] - The other comprehensive income for the first half of 2023 is CNY 179,248,772.69, contributing to the overall equity[5] Financial Reporting and Compliance - The company’s financial statements are prepared based on the assumption of going concern, reflecting its ongoing operational viability[17] - The financial report has been approved by the board of directors on August 28, 2023, ensuring compliance with regulatory requirements[16] - The company’s financial statements adhere to the accounting standards set forth by the Ministry of Finance, ensuring accuracy and completeness in financial reporting[19] - The company ensures the accuracy and completeness of its semi-annual report, with all board members present for the meeting[28] Revenue and Profit Sources - The company reported that its main source of profit is highway toll revenue, which is subject to approval by government departments, making it difficult to adjust toll rates based on operational costs or market demand[28] - The company operates several toll roads and engages in external investments, indicating a diversified revenue stream[14] - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the first half of 2023, representing a 15% year-over-year growth[125] - User data indicates that the number of active users on the company's platforms has reached 10 million, up from 8 million in the same period last year, marking a 25% increase[125] - The company has provided a performance guidance for the second half of 2023, expecting revenue to grow by an additional 10% compared to the first half[125] Investments and Acquisitions - A strategic acquisition of a technology firm was completed, which is expected to enhance the company's R&D capabilities and reduce costs by 20% over the next two years[125] - The company has invested 200 million yuan in research and development for new technologies, focusing on sustainable infrastructure solutions[125] - The company has increased its subsidiaries due to mergers under common control, adjusting the consolidated balance sheet's beginning balance accordingly[26] - The company has not made adjustments to the beginning balance of the consolidated balance sheet for subsidiaries acquired through mergers not under common control[26] Financial Assets and Liabilities - The company will recognize financial assets or liabilities when it becomes a party to a financial instrument contract[30] - The company will measure financial assets at fair value upon initial recognition, with transaction costs directly impacting current profits for certain financial assets[31] - The company will classify financial liabilities as measured at amortized cost unless they meet specific criteria for fair value measurement[35] - The company will recognize any excess of the fair value of identifiable net assets acquired in a business combination over the cost of the acquisition as income in the current period[24] - The company has designated certain non-trading equity instruments as financial assets measured at fair value with changes recognized in other comprehensive income[52] Credit Risk and Impairment - The company measures expected credit losses based on the expected credit loss model for various financial assets, including receivables and contract assets[57] - If the probability of default for a financial asset significantly increases compared to initial recognition, the company will assess the credit risk accordingly[59] - The company uses a 12-month expected credit loss estimate to determine significant increases in credit risk after initial recognition[59] - At the end of the period, the company calculates the expected credit losses for various financial assets, recognizing impairment losses or gains based on the difference with current impairment provisions[82] - The company evaluates credit risk for receivables and other receivables with significant differences and specific characteristics, such as those involved in disputes or litigation[81] Asset Management and Depreciation - The company assesses the useful life and expected residual value of fixed assets annually and adjusts depreciation methods as necessary[78] - Borrowing costs incurred during the construction or production of qualifying assets are capitalized, but if there is a significant interruption exceeding three months, capitalization is suspended[79] - The company applies a straight-line depreciation method for fixed assets with a useful life exceeding one year, with specific depreciation rates for different asset categories[115] - The average amortization period for intangible assets, such as software, is set between 3 to 5 years, ensuring proper cost allocation[122] Lease Accounting - The company evaluates contracts to determine if they contain a lease, recognizing right-of-use assets and lease liabilities at the lease commencement date[187] - Short-term leases are defined as leases with a term of 12 months or less, excluding leases with purchase options[188] - Low-value asset leases are defined as leases where the value of the underlying asset is less than 100,000 yuan[188] - The company applies a simplified approach for low-value asset leases, recognizing lease payments on a straight-line basis[190] - The company recognizes revenue from operating leases on a straight-line basis over the lease term[161] Government Grants and Subsidies - The company has recognized a total of 50 million yuan in government subsidies, which will be used to offset operational costs[140] - Government grants related to assets are recognized by reducing the carrying amount of the related assets or as deferred income, amortized over the useful life of the asset[165] Taxation and Deferred Tax Assets - The company confirms the recognition of deferred tax assets based on the likelihood of obtaining sufficient taxable income in future periods to offset deductible temporary differences[185] - The company uses the balance sheet liability method for income tax accounting, recognizing deferred tax liabilities for taxable temporary differences[170] Impairment and Fair Value Measurement - The company assesses whether there are indicators of asset impairment, such as significant declines in market value[178] - Impairment losses on assets, once recognized, are not reversed in subsequent accounting periods[199] - The fair value measurement of assets or liabilities assumes orderly transactions in the principal market or the most advantageous market[200] - The company estimates recoverable amounts of assets based on individual assets or asset groups when impairment indicators are present[198] Operational Efficiency and Market Expansion - New product development includes the launch of a smart toll collection system, which is projected to increase operational efficiency by 30%[125] - The company is expanding its market presence by entering three new provinces, aiming to increase its market share by 5% in these regions[125] - Employee compensation expenses have increased by 12% due to the implementation of new benefits programs aimed at improving workforce retention[126]

证券简称：粤高速 A 、粤高速 B 证券代码： 000429、 200429 公告编号： 2023-021 二、董事会会议审议情况 会议审议通过以下议案： （一）审议通过《关于 2023 年半年度报告及其摘要的议案》 同意公司《2023 年半年度报告》及其摘要，并准予公告。 表决结果：赞成 15 票，反对 0 票，弃权 0 票。 （二）审议通过《关于确认广东省交通集团财务有限公司风险评估报告的 议案》 广东省高速公路发展股份有限公司 第十届董事会第十一次会议决议公告 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、董事会会议召开情况 广东省高速公路发展股份有限公司（以下简称"公司"）第十届董事会第十 一次会议（以下简称"本次会议"）于 2023 年 8 月 28 日（星期一）下午在本公 司会议室以现场会议加视频会议通讯表决形式召开。本次会议的会议通知及相关 会议文件已于 2023 年 8 月 18 日以传真、电子邮件或当面递交方式通知送达各位 董事。会议应到董事 15 名，实到董事 15 名，参加本次会议的董事超过全体董事 的半数，符合《中华人民共和国公司 ...

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].