ANHUI EXPRESSWAY(SH:600012)2018-03-25 16:00Financial Performance - The net profit for 2017, according to Chinese accounting standards, was RMB 1,185,197 thousand, while under Hong Kong accounting standards, it was RMB 1,156,494 thousand[8]. - The company’s total available profit for distribution to shareholders was RMB 1,156,494 thousand, based on the lower amount calculated under domestic and overseas accounting standards[8]. - The company's operating revenue for 2017 was CNY 2,861,411,105.06, representing a 14.50% increase compared to CNY 2,499,135,630.47 in 2016[28]. - The net profit attributable to shareholders for 2017 was CNY 1,091,343,092.28, an increase of 16.94% from CNY 933,257,550.08 in 2016[28]. - The total assets at the end of 2017 amounted to CNY 14,176,003,506.16, reflecting an 8.04% increase from CNY 13,120,801,927.91 in 2016[29]. - The basic earnings per share for 2017 was CNY 0.6580, up 16.94% from CNY 0.5627 in 2016[30]. - The weighted average return on equity for 2017 was 12.12%, an increase of 0.96 percentage points from 11.16% in 2016[30]. - The net cash flow from operating activities for 2017 was CNY 1,882,799,767.78, a 7.44% increase from CNY 1,752,401,524.95 in 2016[28]. - The total profit for the year was RMB 1,540,423 thousand, up 23.64% from RMB 1,245,920 thousand in 2016[66]. - Net profit attributable to shareholders reached RMB 1,091,343 thousand, reflecting a 16.94% increase compared to RMB 933,258 thousand in the previous year[66]. Dividends and Shareholder Returns - The company proposed a cash dividend of RMB 2.3 per 10 shares, totaling RMB 381,480.30 thousand, based on a total share capital of 1,658,610,000 shares[8]. - The company has maintained a cash dividend policy for 20 consecutive years, with a cash dividend of 2.3 RMB per 10 shares in 2017, totaling 381,480.30 thousand RMB, representing 34.96% of the net profit attributable to shareholders[131][135]. Risk Management and Compliance - The report includes a risk statement indicating that future plans and strategies do not constitute a commitment to investors, urging rational investment and attention to risks[10]. - The company confirmed that there were no non-operational fund occupations by controlling shareholders or related parties[11]. - The company has detailed risk factors and countermeasures in the section discussing future development[11]. - The company is aware of risks related to macroeconomic changes and industry policies, which could impact toll revenue and traffic flow, and is taking measures to mitigate these risks[122]. - The company will actively engage with government authorities to protect its interests amid potential policy changes affecting toll fees[123]. Operational Highlights - The company reported a toll revenue of RMB 2,645,780 thousand, which is a 9.18% increase year-on-year[67]. - The total amount of policy-related toll exemptions rose to RMB 885 million, a 23.09% increase from RMB 719 million in 2016[68]. - The company experienced a 14.29% increase in passenger vehicle traffic and a 19.19% increase in freight vehicle traffic during the reporting period[68]. - The company achieved a total operating revenue of RMB 2,861,411 thousand in 2017, representing a 14.50% increase from RMB 2,499,136 thousand in 2016[66]. - The average daily traffic flow on the HeNing Expressway increased by 8.12% to 27,254 vehicles in 2017, compared to 25,207 vehicles in 2016[70]. Investment and Expansion - The company has diversified its investments into quasi-financial businesses alongside its core toll road operations[46]. - The company plans to enhance service quality and operational efficiency while expanding its highway network through acquisitions and new constructions, focusing on increasing the proportion of quality assets[114]. - The company aims to achieve a total toll revenue target of approximately RMB 2.792 billion for 2018, up from RMB 2.645 billion in 2017, reflecting a growth of about 5.57%[117]. - The company plans to attract social capital for new road investments under the PPP model, indicating a shift towards market-oriented financing methods[113]. Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives, including infrastructure construction and educational support in rural areas[174]. - The company has successfully helped 64 households and 228 individuals escape poverty through various initiatives in 2017[175]. - A total of RMB 1.47 million was raised to support poverty alleviation efforts, including expanding sales channels for agricultural products[175]. - The company has established five pairing assistance points and conducted over 50 assistance activities throughout the year[177]. Environmental Initiatives - The company has actively engaged in environmental protection measures during highway construction, including innovative design and green construction practices[183]. - The company has partnered with Yida Company and State Grid to build charging stations for electric vehicles, promoting green development[184]. - The company has not reported any environmental violations in 2017, adhering to national regulations on waste emissions and treatment[182]. Shareholder Structure - The largest shareholder, Anhui Transportation Holding Group Co., Ltd., holds 524,644,220 shares, representing 31.63% of total shares[192]. - HKSCC Nominees Limited is the second largest shareholder with 489,147,899 shares, accounting for 29.49%[192]. - The third largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 404,191,501 shares, which is 24.37% of total shares[192]. - The total number of shares held by the top three shareholders constitutes 85.49% of the company's total shares[192].