Core Viewpoint - Tongxingbao is a leading provider of smart transportation solutions in China, focusing on electronic toll collection (ETC) and smart traffic operation management systems, with strong technical capabilities and market competitiveness [1] Group 1: Business Performance - In Q3 2025, Tongxingbao achieved revenue of 612 million yuan, ranking 34th among 63 companies in the industry, while the industry leader, Inspur Information, reported revenue of 120.67 billion yuan [2] - The company's net profit for the same period was 170 million yuan, placing it 13th in the industry, with the top performer, Inspur Information, earning 1.49 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Tongxingbao's debt-to-asset ratio was 51.12%, an increase from 49.99% year-on-year, and higher than the industry average of 34.38% [3] - The company's gross profit margin was 50.07%, slightly down from 51.70% year-on-year, but still above the industry average of 34.46% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 5.97% to 19,200, while the average number of shares held per shareholder increased by 6.35% to 8,765.95 shares [5] - Notable changes among the top ten circulating shareholders include a decrease in holdings by Hong Kong Central Clearing Limited and new entries from Southern CSI 1000 ETF and Taikang Quality Life Mixed A [5] Group 4: Analyst Ratings and Projections - Haitong International Securities maintains an "outperform" rating with a target price of 27.83 yuan, projecting EPS of 0.58, 0.79, and 1.04 yuan for 2025 to 2027 [6] - Guotai Junan Securities also maintains a "buy" rating and has raised the target price to 27.83 yuan, with similar EPS projections as Haitong [6]

Group 1 - The company Tongxingbao (SZ 301339) announced that its 19th meeting of the second board of directors was held on October 28, 2025, in both in-person and telecommunication formats [1] - The meeting reviewed the proposal regarding the company's mid-term dividend plan for 2025 [1] - For the first half of 2025, the company's revenue composition is entirely from the software and information technology services sector, accounting for 100.0% [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation [1] - The technology sector is leading the market's transformation, indicating the emergence of a "slow bull" market pattern [1]

证券代码：301339 证券简称：通行宝 公告编号：2025-045 江苏通行宝智慧交通科技股份有限公司 第二届董事会第十九次会议决议公告 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 （一）审议通过《关于公司2025年第三季度报告的议案》 表决结果：9票同意、0票反对、0票弃权。 报告内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的相关公告。 该议案已经公司董事会审计委员会审议通过。 （二）审议通过《关于公司2025年中期分红方案的议案》 以公司2025年9月30日总股本580,333,320股为基数，向全体股东每10股派发 现金红利1.50元（含税），总计派发现金股利87,049,998.00元，占2025年1-9月母 公司净利润的55.22%；剩余未分配利润结转以后期间分配。本次不转增股本，不 送红股。 若公司董事会审议通过分红方案后到方案实施前公司股本发生变动，则以实 施分配方案时股权登记日的总股本为基数，公司将维持每股分红金额不变，相应 调整现金红利总额。 -1- 表决结果：9票同意、0票反对、0票弃 ...

证券代码：301339 证券简称：通行宝 公告编号：2025-047 江苏通行宝智慧交通科技股份有限公司 关于 2025 年中期分红方案的公告 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。 特别提示： 一、审议程序 公司于2025年10月27日召开审计委员会会议、于10月28日召开第二届董事会 第十九次会议及独立董事专门会议，审议通过了《关于公司2025年中期分红方案 的议案》。 1.审计委员会意见 审计委员会认为，2025年中期分红方案综合考虑了公司当前实际情况以及未 来发展规划，符合相关法律法规和《公司章程》的规定，充分体现了回报投资者、 保护股东利益的精神。 2.独立董事专门会议意见 独立董事认为，2025年中期分红方案符合法律、法规及《公司章程》等相关 规定，符合回报投资者、保护股东利益的精神，有利于公司的持续稳定健康发展。 3.董事会意见 第二届董事会第十九次会议审议通过《关于2025年中期分红方案的议案》。 公司于2025年9月12日召开2025年第二次临时股东会，审议通过了《关于提 请股东会授权董事会决定公司2025年中期分红方案的议案》，同意 ...

Core Insights - The company reported third-quarter revenue of 223 million yuan, representing a year-on-year growth of 8.31% [1] - The net profit for the third quarter was 61.14 million yuan, showing a year-on-year increase of 0.50% [1] - For the first three quarters, the total revenue reached 612 million yuan, with a year-on-year growth of 14.65% [1] - The net profit for the first three quarters was 168 million yuan, reflecting a year-on-year increase of 0.60% [1]

Financial Performance - The company reported a revenue of CNY 222,573,533.71 for Q3 2025, representing an 8.31% increase year-over-year[5] - The net profit attributable to shareholders was CNY 61,140,226.13, a slight increase of 0.50% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was CNY 60,319,321.90, up 0.63% year-over-year[5] - Cumulative revenue for the first three quarters reached CNY 611,959,913.57, reflecting a 14.65% growth compared to the previous year[5] - Total operating revenue for the current period reached ¥611,959,913.57, an increase of 14.65% compared to ¥533,774,282.51 in the previous period[24] - Net profit for the current period was ¥169,914,119.18, representing a slight increase of 1.11% from ¥167,049,539.88 in the previous period[24] - The company’s total profit for the current period was ¥194,722,976.18, slightly up from ¥192,427,484.86 in the previous period[24] Asset and Liability Management - The company’s total assets increased by 6.13% to CNY 5,863,652,388.95 compared to the end of the previous year[5] - The total assets amounted to 5,863,652,388.95, compared to 5,524,749,228.98 at the beginning of the period, showing an increase of about 6.1%[23] - The total liabilities increased to 2,997,344,874.64 from 2,722,056,759.83, reflecting a rise of approximately 10.1%[23] - The company’s equity attributable to shareholders increased to 2,778,560,690.54 from 2,716,748,807.95, marking a growth of approximately 2.3%[23] Cash Flow and Investments - Net cash flow from operating activities surged by 424.02% to CNY 238,513,383.55, influenced by the timing of toll fee settlements[14] - Net cash flow from operating activities was ¥238,513,383.55, a significant recovery from a negative cash flow of ¥73,610,620.61 in the prior period[28] - Cash inflow from investment activities was ¥13,037,908,023.10, up from ¥8,146,535,007.60 in the previous period[28] - Cash outflow from investment activities was ¥13,127,521,732.89, compared to ¥8,212,767,025.12 in the prior period[28] - The company reported a net cash outflow from financing activities of ¥142,058,361.79, worsening from a net outflow of ¥63,088,790.48 in the previous period[28] Operational Metrics - The gross profit margin for the main business was 50.07%, slightly down from 51.70% in the previous year[9] - The revenue from smart traffic electronic toll collection business was CNY 30,569.99 million, a 2.77% increase year-over-year[9] - The revenue from smart traffic operation management system business was CNY 28,503.93 million, showing a significant growth of 34.51%[9] - Total operating costs amounted to ¥470,094,564.49, up 19.54% from ¥393,420,463.82 in the prior period[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,172[16] - The total number of restricted shares at the end of the period is 412,272,451, an increase of 117,792,129 from the beginning of the period[18] Future Plans and Strategic Initiatives - The company plans to use surplus funds of 22,161,200.00 for permanent working capital supplementation[19] - The company aims to enhance investor satisfaction by increasing the frequency of dividend distributions in the future[19] - The company has completed the "Digital Transformation Project of Jiangsu Province Transportation Infrastructure" and will allocate the remaining funds to working capital[19]

Core Viewpoint - The company, Tongxingbao (301339), confirmed that it adheres to information disclosure regulations and does not have any undisclosed significant information [1] Group 1 - The company's current operating conditions are good, with sufficient orders on hand [1] - The project in collaboration with Hunan Provincial Highway Group is progressing steadily [1] - The company will focus on project progress to ensure smooth implementation [1]

Core Viewpoint - The company emphasizes its commitment to compliance and fairness in information disclosure, adhering to relevant regulations and principles of transparency for all investors [1] Group 1 - The company responded to investor inquiries on October 17, highlighting its focus on the compliance and fairness of information disclosure [1] - The company strictly follows the "Management Measures for Information Disclosure of Listed Companies" and the "Shenzhen Stock Exchange GEM Stock Listing Rules" [1] - The company aims to provide fair, just, and open information to all investors by uniformly disclosing the number of shareholders as of the end of the reporting period in its regular reports [1]

Core Viewpoint - The company emphasizes the importance of market value management, focusing on core business operations and investor interests while maintaining a balance between intrinsic and market value [1] Group 1: Market Value Management - The company is committed to optimizing corporate governance and enhancing operational quality to improve market value [1] - It aims to strengthen information disclosure and investor communication as part of its market value management strategy [1] - The company plans to utilize tools such as cash dividends, stock transfers, and equity incentives to support its market value management efforts [1] Group 2: Shareholder Interests - The company is dedicated to safeguarding the long-term interests of all shareholders through its market value management initiatives [1] - Any plans for stock buybacks or increases will be disclosed in accordance with relevant information disclosure regulations [1]

Core Insights - Tongxingbao's stock price decreased by 1.42% on October 13, with a trading volume of 75.04 million yuan [1] - The company reported a financing buy-in of 5.58 million yuan and a financing repayment of 8.71 million yuan on the same day, resulting in a net financing outflow of 3.12 million yuan [1] - As of October 13, the total margin balance for Tongxingbao was 141 million yuan, which is 5.49% of its market capitalization [1] Financing Overview - On October 13, Tongxingbao had a financing buy-in of 5.58 million yuan, with a current financing balance of 141 million yuan, which is below the 20th percentile level over the past year [1] - The company had no shares repaid in the securities lending market on October 13, with 200 shares sold short, amounting to 3,060 yuan at the closing price [1] - The securities lending balance was 282,100 yuan, which is below the 40th percentile level over the past year [1] Business Performance - As of June 30, the number of shareholders for Tongxingbao increased to 20,400, a rise of 22.11% from the previous period [2] - For the first half of 2025, Tongxingbao achieved operating revenue of 389 million yuan, representing a year-on-year growth of 18.61% [2] - The net profit attributable to the parent company was 107 million yuan, with a slight year-on-year increase of 0.66% [2] Dividend and Shareholding Structure - Since its A-share listing, Tongxingbao has distributed a total of 324 million yuan in dividends [3] - As of June 30, 2025, the fourth largest circulating shareholder is XINGQUAN Green Investment Mixed Fund, holding 3.84 million shares, an increase of 1.14 million shares from the previous period [3] - Other notable shareholders include Hong Kong Central Clearing Limited and Nuoan Innovation Driven Mixed Fund, both of which increased their holdings compared to the previous period [3]