Group 1 - Company Tongxingbao (301339.SZ) signed a significant contract worth 283 million yuan for a digital transformation project in Hunan Province [1] - The project aims to integrate information resources for highway and ordinary road services, enhancing travel services and efficiency at toll stations [1] - The contract is expected to positively impact the company's operating performance in 2025 [1] Group 2 - Tongxingbao's main business includes smart traffic electronic toll collection, supported by technologies such as cloud computing and big data [2] - In Q1 2025, the company reported revenue of 165 million yuan, a year-on-year increase of 8.06%, and a net profit of 47.58 million yuan, up 5.64% [2] - The revenue structure shows that electronic toll collection contributed 100 million yuan, accounting for 60.79% of total revenue, with a growth of 7.61% [2] Group 3 - The gross margin for the main business in Q1 was 54.65%, an increase of 1.72 percentage points from Q1 2024 [3] - The gross margin for electronic toll collection was 58.13%, up 4.27 percentage points due to optimized product structure [3] - The gross margin for smart traffic ecosystem business remained high at 85.26% [3]

Investment Rating - The report rates the industry as "Outperform" [1] Core Viewpoints - The development of AI Agents by major companies indicates that AI Agents are a key theme for this year, with expectations for accelerated commercialization of AI applications [2][3] - Current AI technology is sufficient to support the deployment of excellent segment-specific agents, marking the beginning of a large-scale commercialization era for the AI industry [2][3] - Baidu's recent product releases demonstrate steady progress in foundational AI technology, continuously raising the industry's potential ceiling [2][3] Summary by Relevant Sections - **Recent Developments**: ByteDance has released several intelligent tools, while Alibaba's Fliggy launched a travel AI named "Ask Me," which provides customized services. The Doubao foundation model is widely used across various industries, covering 400 million devices and 80% of major automobile companies [8][9] - **Product Performance**: Baidu's Wenxin 4.5 Turbo and X1 Turbo models show improved performance at reduced prices, with significant enhancements in multimodal capabilities and a price reduction of 80% for Wenxin 4.5 Turbo [9] - **Government Initiatives**: The National Development and Reform Commission is promoting low-altitude economic development, indicating a strategic push for this emerging industry, which is expected to become more standardized and rapidly deployed nationwide [10]

Group 1 - The company announced that its subsidiary, Nanjing Gando Technology Co., Ltd., has signed a contract for a public service project related to the digital transformation of highway traffic infrastructure in Hunan Province, with a total contract value of 283 million yuan [1] - The contract is expected to have a positive impact on the company's financial condition and operating results for the year 2025 and beyond [1] - The system construction period is set for 730 calendar days, followed by a maintenance service period of 1,095 calendar days starting from the date of acceptance [1]

证券代码：301339 证券简称：通行宝 公告编号：2025-022 1.合同的生效条件：合同自双方盖章签字之日起生效。 2.重大风险及重大不确定性：合同双方均具有履约能力，合同已对工程范围、 工期、合同价款及支付条件、各方权利和义务、违约责任、争议解决方式等做出 明确规定，但在实际履行过程中如遇到不可预计或不可抗力等因素的影响，可能 存在无法如期或全面履行合同的风险。敬请广大投资者注意投资风险。 3.合同履行对本年度公司经营成果的影响：合同的顺利履行预计将对公司 2025 年度及未来年度的财务状况、经营成果产生积极影响，具体收入确认情况 将根据合同履行情况以及企业会计准则、公司会计政策相关规定确认。 一、 合同签署概述 江苏通行宝智慧交通科技股份有限公司（以下简称"公司"）于 2025 年 3 月 11 日在巨潮资讯网（https://www.cninfo.com.cn/）披露了《关于控股子公司收 到中标通知书的公告》（2025-008）。近日，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"）与湖南高速信息科技有限公司作为联合体，与湖 南省高速公路集团有限公司（以下简称"湖南高速"）签署《湖南省 ...

Financial Performance - The company achieved operating revenue of ¥165,316,186.47 in Q1 2025, representing an 8.06% increase compared to ¥152,988,282.02 in the same period last year[5] - Net profit attributable to shareholders was ¥47,584,665.47, up 5.64% from ¥45,042,397.10 year-on-year[5] - Total revenue for the current period reached ¥165,316,186.47, an increase of 8.67% compared to ¥152,988,282.02 in the previous period[24] - Net profit for the current period was ¥47,824,305.06, representing a growth of 8.66% from ¥43,915,190.35 in the previous period[26] - Earnings per share (basic and diluted) increased to ¥0.1169, up from ¥0.1107 in the previous period[26] Cash Flow - The net cash flow from operating activities improved significantly to -¥639,384.40, a 99.40% increase from -¥107,365,175.23 in the previous year[5] - Operating cash inflow totaled ¥13,995,298,773.27, an increase from ¥11,803,184,451.45 in the previous period, reflecting a growth of approximately 18.0%[27] - The company received ¥150,642,653.19 in cash from sales of goods and services, compared to ¥94,023,340.89 in the previous period, reflecting a growth of approximately 60.0%[27] - Total cash outflow from operating activities was ¥13,995,938,157.67, compared to ¥11,910,549,626.68 in the previous period[27] - Cash and cash equivalents at the end of the period amounted to ¥174,023,358.92, down from ¥254,107,060.68 in the prior period[28] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥5,585,668,424.52, a 1.10% increase from ¥5,524,749,228.98 at the end of the previous year[5] - Non-current assets totaled ¥2,601,184,840.41, a slight increase from ¥2,574,766,494.91 in the previous period[22] - Total liabilities amounted to ¥2,727,234,844.63, compared to ¥2,722,056,759.83 in the previous period, showing a marginal increase[23] - The total current assets at the end of the reporting period amount to RMB 2,984,483,584.11, an increase from RMB 2,949,982,734.07 at the beginning of the period[21] Investment and R&D - Research and development expenses rose by 31.01% to ¥14,278,064.99, reflecting increased investment in R&D[13] - The company reported an investment income of ¥15,754,704.42, up from ¥12,263,159.92 in the previous period, reflecting improved investment performance[24] - The company’s cash flow from investing activities increased by 152.01% to ¥97,208,641.15, attributed to changes in cash management product structures[14] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,697[16] - The largest shareholder, Jiangsu Transportation Holding Co., Ltd., holds 48.46% of the shares, totaling 200,869,565 shares[16] Strategic Developments - The company plans to continue optimizing its ETC product structure to enhance profitability in the electronic toll collection business[9] - The company has established a new subsidiary, Tianjin Transportation Digital Technology Co., Ltd., with a registered capital of RMB 12 million[18] - The company won a bid for the "Smart Upgrade Project of the Humen to Tongzhou Section of the Sutong Bridge" with a total bid amount of RMB 45,556,450[18] - The company also secured a bid for the "Digital Transformation Upgrade Public Service Project" in Hunan Province, amounting to RMB 283 million[19] Organizational Efficiency - The company is optimizing its organizational structure to enhance operational efficiency and support strategic development[20]

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。 证券代码：301339 证券简称：通行宝 公告编号：2025-020 江苏通行宝智慧交通科技股份有限公司 关于召开2024年度股东大会的通知 江苏通行宝智慧交通科技股份有限公司（以下简称"公司"）于 2025 年 3 月 26 日召开第二届董事会第十五次会议，审议通过了《关于提请召开公司 2024 年度股东大会的议案》，现决定于 2025 年 5 月 15 日（星期四）召开公司 2024 年度股东大会，现将本次会议有关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2024 年度股东大会 2、股东大会召集人：公司董事会 3、会议召开的合法、合规性：经公司第二届董事会第十五次会议审议通过， 决定召开 2024 年度股东大会，本次股东大会的召集、召开符合相关法律、行政 法规、规范性文件、深圳证券交易所业务规则和《公司章程》的规定。 4、会议召开的日期、时间： （1）现场会议时间：2025 年 5 月 15 日（星期四）下午 15:00 （2）网络投票时间：2025 年 5 月 15 日（星期四） 通过深圳证 ...

Investment Rating - The report maintains a positive outlook on the AI industry and the computer sector, suggesting to watch specific companies such as Huada Jiutian, Dameng Database, Kingsoft Office, Newland, Tongxingbao, Saiyi Information, Hongquan IoT, and Runze Technology [3][5]. Core Insights - The AI industry is progressing with both foundational technology and commercial applications, with no signs of stagnation. The penetration of various AI applications is expected to accelerate [3][5]. - OpenAI has recently released several new models, including GPT-4.1, GPT-4.1 mini, and GPT-4.1 nano, which show significant improvements in programming and instruction execution capabilities [3][5]. - Major AI companies are entering the Model Context Protocol (MCP) space, which is anticipated to accelerate the development of AI Agents. Alibaba Cloud has launched a full lifecycle MCP service, significantly lowering development barriers [3][5]. - NVIDIA's CEO has expressed a commitment to serving the Chinese market, despite export license requirements for certain chips, indicating a positive outlook on China's economic prospects [3][5]. Summary by Sections Investment Recommendations - The report suggests a focus on companies such as Huada Jiutian, Dameng Database, Kingsoft Office, Newland, Tongxingbao, Saiyi Information, Hongquan IoT, and Runze Technology due to their potential in the AI sector [3][5]. Recent Developments - OpenAI's new models, including o3 and o4-mini, are defined as "visual reasoning models" and have enhanced capabilities for image processing and tool access [3][5]. - The launch of Alibaba's MCP services and the entry of other AI giants like OpenAI, Microsoft, Google, and Baidu into the MCP space are expected to foster growth in AI Agents [3][5]. Market Position - NVIDIA's CEO has reaffirmed the company's dedication to the Chinese market, highlighting the importance of regulatory compliance and collaboration with Chinese officials to optimize product offerings [3][5].

一、 控股子公司设立全资子公司的情况概述 证券代码：301339 证券简称：通行宝 公告编号：2025-019 江苏通行宝智慧交通科技股份有限公司 关于控股子公司设立全资子公司并取得营业执照的公告 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、误导性陈述或重大遗漏。 为加快城市"车路云一体化"业务拓展，江苏通行宝智慧交通科技股份有限 公司（以下简称"公司"）控股子公司深圳宝溢交通科技有限公司（以下简称"宝 溢科技"）以自有资金出资 1,000 万元人民币设立全资子公司重庆宝溢智慧交通 科技有限公司（以下简称"重庆宝溢"）。重庆宝溢纳入公司合并报表范围。该 事项已经过公司第二届董事会第十四次会议审议通过，具体内容详见公司于 2025 年 2 月 24 日在巨潮资讯网（www.cninfo.com.cn）披露的相关公告。 近日，重庆宝溢已完成工商注册登记，并取得了重庆高新技术产业开发区管 理委员会市场监督管理局颁发的《营业执照》。 本次对外投资事项不涉及关联交易，亦不构成《上市公司重大资产重组管理 办法》规定的重大资产重组。 二、 注册登记情况 1.公司名称：重庆宝溢智慧交通科技有限公 ...

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 年年度跟踪报告 | 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 | | 文件一致 ...

证券代码：301339 证券简称：通行宝 公告编号：2025-010 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 中天运会计师事务所（特殊普通合伙）对本年度公司财务报告的审计意见为：标准的无保留意见。 非标准审计意见提示 □适用 √不适用 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 √适用 □不适用 公司经本次董事会审议通过的利润分配预案为：以414,523,800为基数，向全体股东每10股派发现金红利 3.20元（含税），送红股0股（含税），以资本公积金向全体股东每10股转增4股。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 二、公司基本情况 1、公司简介 ■ 公司上市时未盈利且目前未实现盈利 2、报告期主要业务或产品简介 1.公司的主要业务及产品 公司是全国领先的为高速公路、干线公路以及城市交通等提供智慧交通平台化解决方案的供应商。公司 主要业务包括三个方面：第一，以ETC为载体的智慧交通电子收费业务，包括ETC发 ...