Investment Rating - The report maintains a "Buy" rating for the company with a target price of 26.76 CNY [2][6]. Core Insights - The company's performance meets expectations, with significant growth in its vehicle-road-cloud related business, which is entering a phase of rapid expansion [2]. - The company reported a revenue of 534 million CNY in the first three quarters of 2024, representing an 18.09% year-on-year increase, with Q3 alone achieving 205 million CNY, up 17.96% [2]. - The net profit attributable to the parent company for the first three quarters was 167 million CNY, a 7.59% increase year-on-year, with Q3 net profit at 60.84 million CNY, up 6.85% [2]. - The vehicle-road-cloud related business has accelerated growth, with the smart traffic operation management system revenue reaching 212 million CNY, a 40.17% increase year-on-year [2]. - The company is involved in significant digital transformation projects in Jiangsu province, with a total investment of approximately 3.44 billion CNY, which is expected to contribute significantly to revenue [2]. Financial Summary - Revenue projections for 2024-2026 are 920 million CNY, 1,125 million CNY, and 1,365 million CNY respectively, with growth rates of 24.0%, 22.3%, and 21.3% [1]. - Net profit attributable to the parent company is forecasted to be 243 million CNY, 300 million CNY, and 369 million CNY for 2024-2026, with growth rates of 27.2%, 23.5%, and 23.0% respectively [1]. - Earnings per share (EPS) is projected to be 0.59 CNY, 0.72 CNY, and 0.89 CNY for 2024-2026 [1]. - The return on equity (ROE) is expected to improve from 8.8% in 2024 to 12.2% in 2026 [1].

证券代码：301339 证券简称：通行宝 公告编号：2024-060 江苏通行宝智慧交通科技股份有限公司 经审核，监事会同意选举谢蒙萌女士（简历详见附件）为公司第二届监事会主 席，任期自公司监事会审议通过之日起至公司第二届监事会任期届满之日止。 第二届监事会第十一次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或者重大遗漏。 一、监事会会议召开情况 江苏通行宝智慧交通科技股份有限公司（以下简称"公司"）第二届监事会第十 一次会议通知已于2024年10月18日以邮件方式向全体监事发出，并于2024年10月28日 以现场及通讯会议的形式召开。本次会议应出席监事5人，实际出席监事5人。本次会 议由全体监事共同推举的监事代表谢蒙萌女士主持。本次会议的召开和表决程序符合 《公司法》等法律、法规和《公司章程》的规定。 二、监事会会议审议情况 经与会监事认真审议，充分讨论，会议审议并通过了如下议案： （一）审议通过《关于公司 2024 年第三季度报告的议案》 公司编制的《2024年第三季度报告》真实、公允地反映了公司2024年第三季度 的经营状况和经营成果，报告所披露的信 ...

Financial Performance - The company achieved operating revenue of CNY 205.49 million in Q3 2024, representing a year-on-year increase of 17.96%[7] - Net profit attributable to shareholders was CNY 60.84 million in Q3 2024, up 6.85% year-on-year[9] - The cumulative operating revenue for the first three quarters reached CNY 533.77 million, reflecting an 18.09% increase compared to the same period last year[7] - The revenue from smart traffic electronic toll collection business was CNY 114.32 million in Q3 2024, accounting for 55.64% of total revenue, with a year-on-year growth of 4.04%[7] - Total operating revenue for the current period reached ¥533,774,282.51, an increase of 18.1% compared to ¥451,991,547.48 in the previous period[23] - Operating profit for the current period was ¥181,727,484.86, up from ¥168,988,319.58, reflecting a growth of 7.3%[24] - Net profit attributable to shareholders of the parent company was ¥167,112,217.28, compared to ¥155,328,322.31 in the previous period, marking an increase of 7.4%[24] - Basic and diluted earnings per share both improved to ¥0.4106 from ¥0.3816, representing a growth of 7.4%[25] Cash Flow - The company's cash flow from operating activities showed a significant decline, with a net cash flow of CNY -73.61 million, a decrease of 18,447.58% year-on-year[6] - Cash flow from operating activities showed a drastic decline of 18447.58% to CNY -73,610,620.61 compared to CNY 401,200.61 in the previous period[12] - Cash inflow from operating activities for the current period was ¥36,426,900,358.74, a decrease of 2.8% compared to ¥37,472,844,898.65 in the previous period[26] - The net cash outflow from operating activities was ¥73,610,620.61, contrasting with a net inflow of ¥401,200.61 in the previous period[26] - The total cash outflow from operating activities was ¥36,500,510,979.35, compared to ¥37,472,443,698.04 in the previous period, indicating a decrease of 2.6%[26] Assets and Liabilities - Total assets at the end of Q3 2024 were CNY 5.48 billion, a decrease of 0.83% from the end of the previous year[2] - The total current assets decreased from 3,755,600,119.98 to 3,177,317,364.40, a reduction of approximately 15.3%[21] - The total liabilities decreased from 5,525,999,310.88 to 5,480,113,618.65, a decrease of approximately 0.8%[21] - Total liabilities decreased to ¥2,739,430,831.81 from ¥2,836,548,135.98, a reduction of 3.4%[22] - The company reported a significant increase in accounts receivable, which rose by 51.87% to CNY 224.26 million due to increased operating revenue[10] - The accounts receivable increased from 147,668,114.00 to 224,257,908.59, an increase of approximately 52%[20] - The inventory increased from 85,511,599.05 to 118,451,280.28, representing a growth of about 38.5%[21] Equity and Shareholder Information - The company’s equity attributable to shareholders increased by 1.96% to CNY 2.67 billion compared to the end of the previous year[2] - The total number of ordinary shareholders at the end of the reporting period was 15,443, with the largest shareholder, Jiangsu Transportation Holding Co., Ltd., holding 48.46% of shares[13] - Jiangsu Expressway Network Operation Management Co., Ltd. held 20.77% of shares, making it the second-largest shareholder[13] - The total number of restricted shares at the end of the period is 294,480,322, with no shares released or added during the current period[15] Expenses and Financial Management - The gross profit margin for the main business was 51.70%, slightly down from 53.16% in the previous year[8] - Employee compensation payable decreased by 62.63% to CNY 8,942,950.72 compared to CNY 23,932,581.05 in the previous period[11] - Tax payable decreased by 33.60% to CNY 10,172,493.02 from CNY 15,320,335.75 in the previous period[11] - Financial expenses decreased by 63.15% to CNY -12,306,307.37 from CNY -33,398,931.90 in the previous period[12] - The total cost of operations for the current period was ¥393,420,463.82, an increase of 24.0% from ¥317,192,573.43 in the previous period[23] - Research and development expenses increased to ¥40,017,716.12, up 15.5% from ¥34,702,910.89 in the previous period, indicating a focus on innovation[24] Future Outlook and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24] - The company completed the initial grant registration of the 2024 restricted stock incentive plan, granting 7,523,800 shares to 124 individuals, with the listing date on July 30, 2024[18] - The company received approval from the Jiangsu Provincial State-owned Assets Supervision and Administration Commission for the 2024 restricted stock incentive plan[16] - The company appointed a new vice president and nominated a non-independent director candidate during the board meeting on August 28, 2024[19]

证券代码：301339 证券简称：通行宝 公告编号：2024-059 江苏通行宝智慧交通科技股份有限公司 第二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。 一、董事会会议召开情况 江苏通行宝智慧交通科技股份有限公司（以下简称"公司"）第二届董事会 第十一次会议通知已于2024年10月18日以邮件方式向全体董事发出，并于2024年 10月28日以现场及通讯会议的形式召开。本次会议应出席董事9人，实际出席董事 9人。本次会议由董事长王明文先生主持，公司全体监事、高级管理人员列席了会 议。本次会议的召开和表决程序符合《公司法》等法律、法规和《公司章程》的 规定。 二、董事会会议审议情况 经与会董事认真审议，充分讨论，会议审议并通过了如下议案： （一）审议通过《关于公司2024年第三季度报告的议案》 公司编制的《2024年第三季度报告》真实、公允地反映了公司2024年第三季 度的经营状况和经营成果，报告所披露的信息真实、准确、完整，不存在虚假记 载、误导性陈述或重大遗漏。 报告内容详见公司同日披露于巨潮资讯网（www.cninfo.co ...

Financial Performance - In the first three quarters of 2024, the company achieved total operating revenue of 53,377.43 million yuan, representing a year-on-year increase of 18.09%[4] - The net profit attributable to shareholders of the listed company reached 16,711.22 million yuan, an increase of 7.59% compared to the same period last year[4] - The revenue from smart traffic electronic toll collection business was 29,746.02 million yuan, growing by 4.82% year-on-year, while the smart traffic operation management system business revenue increased by 40.17% to 21,190.98 million yuan[4] - In Q3 2024, the company reported operating revenue of 20,548.85 million yuan, a year-on-year increase of 17.96%[4] - The net profit attributable to shareholders in Q3 2024 was 6,083.83 million yuan, up 6.85% year-on-year, and 6,617.81 million yuan after excluding share-based payment expenses, marking a 16.23% increase[4] - The net profit after deducting non-recurring gains and losses was 15,675.41 million yuan, representing a year-on-year increase of 7.08%[2] Assets and Equity - The company’s total assets at the end of the reporting period were 548,011.36 million yuan, a decrease of 0.83% from the beginning of the period[4] - The equity attributable to shareholders of the listed company was 266,644.49 million yuan, reflecting a growth of 1.96% after distributing 12,210.00 million yuan in cash dividends[4] Earnings Per Share - The basic earnings per share for the reporting period was 0.4106 yuan, up 7.60% from the previous year[2] Incentive Plan - The company completed the grant of restricted stock under the 2024 incentive plan, incurring share-based payment expenses of 628.21 million yuan during the reporting period[4]

公司 2024 年限制性股票激励计划已于 2024 年 7 月 30 日授予登记完成，共 计增加股本 7,523,800 股，公司总股本由 407,000,000 股增加至 414,523,800 股， 公司注册资本由人民币 407,000,000 元增加至 414,523,800 元。具体内容详见公司 于 2024 年 7 月 26 日刊登在巨潮资讯网（www.cninfo.com.cn）的《关于 2024 年 限制性股票激励计划授予登记完成的公告》。 2024 年 8 月 28 日，公司召开第二届董事会第十次会议，审议通过了《关于 变更注册资本及修订<公司章程>的议案》，具体内容详见公司于 2024 年 8 月 29 日披露于巨潮资讯网（www.cninfo.com.cn）的《关于修订<公司章程>并办理工 商变更登记的公告》。 公司已于近日完成了相关工商变更登记和《公司章程》备案等手续，并取得 了江苏省市场监督管理局换发的《营业执照》，现将相关情况公告如下： 一、变更后营业执照的基本信息 证券代码：301339 证券简称：通行宝 公告编号：2024-056 江苏通行宝智慧交通科技股份有限公司 关于完成工商 ...

证券代码：301339 证券简称：通行宝 公告编号：2024-055 江苏通行宝智慧交通科技股份有限公司 2024年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或者重大遗漏。 特别提示: 1. 本次股东大会无变更、否决提案的情形； 2. 本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 1. 现场会议召开时间：2024年9月13日（星期五）下午15:30。 2. 网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 9 月 13 日 的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00； 通过深圳证券交易所互联网投票系统进行网络投票的具体时间为：2024 年 9 月 13 日 9:15-15:00 期间的任意时间。 3. 会议召开地点：江苏省南京市建邺区江东中路399号紫金金融中心A2幢29楼公 司会议室。 4. 会议的召开方式：现场表决与网络投票相结合的方式。 5. 会议召集人：江苏通行宝智慧交通科技股份有限公司（以下简称"公司"）董 事会。 6. 会议主持人：公 ...

江苏世纪同仁律师事务所关于 江苏通行宝智慧交通科技股份有限公司 2024年第二次临时股东大会的 法 律 意 见 书 江苏通行宝智慧交通科技股份有限公司： 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股东 大会规则》等法律、法规和规范性文件以及《江苏通行宝智慧交通科技股份有限 公司章程》（以下简称"《公司章程》"）的规定，本所受公司董事会的委托， 指派本律师出席公司 2024 年第二次临时股东大会，并就本次股东大会的召集、 召开程序、出席会议人员资格、召集人资格、表决程序以及表决结果的合法有效 性等事项出具法律意见。 为出具本法律意见书，本律师对本次股东大会所涉及的有关事项进行了审查， 查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 本律师同意将本法律意见书随公司本次股东大会决议一并公告，并依法对本 法律意见书承担相应的责任。 本律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业务 标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本次股东大会的召集、召开程序和召集人资格 1．本次股东大会由董事会召集。2024 年 8 月 28 日，公司召开第二届董事 会第十次会 ...

证券代码：301339 证券简称：通行宝 公告编号：2024-054 江苏通行宝智慧交通科技股份有限公司 关于控股子公司被认定为国家级专精特新"小巨人"企业的 公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、基本情况 三、风险提示 本次入选国家级专精特新"小巨人"企业，不会对公司当期经营业绩产生重大 影响，敬请广大投资者谨慎投资，注意投资风险。 1 四、备查文件 1. 江苏省工业和信息化厅发布的《第六批专精特新"小巨人"企业公示名单》。 特此公告。 江苏通行宝智慧交通科技股份有限公司 董事会 近日，江苏省工业和信息化厅下发了《关于江苏省第六批专精特新"小巨人" 企业和第三批专精特新"小巨人"复核通过企业名单的公示》，江苏通行宝智慧交 通科技股份有限公司（以下简称"公司"）控股子公司南京感动科技有限公司（以 下简称"感动科技"）入选第六批国家级专精特新"小巨人"企业名单。 二、对公司的影响 国家级专精特新"小巨人"企业是工业和信息化部为贯彻落实中共中央办公厅、 国务院办公厅《关于促进中小企业健康发展的指导意见》有关要求，经过严格筛选 和认定的企业群体 ...

华泰联合证券有限责任公司 关于江苏通行宝智慧交通科技股份有限公司 2024 年上半年度持续督导跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：通行宝 | | --- | --- | | 保荐代表人姓名：蒋坤杰 | 联系电话：025-83387757 | | 保荐代表人姓名：陈晓锋 | 联系电话：025-83387757 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 0 次 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括 | | | 但不限于防止关联方占用公司资源的制度、 | 是 | | 募集资金管理制度、内控制度、内部审计制 | | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月一次 | | （2）公司募集资金项目进展是否与信息披露 | 是 | ...