SDHS(SH:600350) Zheng Quan Zhi Xing·2025-05-27 11:14Core Viewpoint - The company is set to hold its 2024 Annual General Meeting on June 6, 2025, to discuss various proposals including the appointment of an auditing firm and the review of financial performance for the year 2024 [1][2]. Company Overview - Shandong Expressway Co., Ltd. is the only A-share listed road and bridge operation company in Shandong province, playing a significant role in supporting the local economy [28]. - The company was established in 1999 and listed on the Shanghai Stock Exchange in March 2002, with a registered capital of 4.852 billion yuan [30]. Financial Performance - In 2024, the company achieved an operating revenue of 28.494 billion yuan and a net profit attributable to the parent company of 3.196 billion yuan [12][26]. - The company plans to distribute a cash dividend of 4.20 yuan per 10 shares, totaling approximately 2.038 billion yuan [25][26]. Operational Highlights - The company operates approximately 2,913 kilometers of road and bridge assets, with 1,604 kilometers being self-owned and 1,309 kilometers managed under a trust agreement [30]. - The company has implemented a "24/7 traffic" model, achieving a 99% satisfaction rate in service quality and complaint resolution [12]. Industry Context - The highway industry is experiencing a trend towards intelligent upgrades and green construction, integrating advanced technologies to enhance operational efficiency and reduce carbon emissions [28]. - In 2024, the GDP of Shandong province reached 9.85658 trillion yuan, growing by 5.7%, indicating a robust economic environment for the company [28]. Governance and Compliance - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring compliance with relevant laws and regulations [11]. - The company has received an A-level rating for information disclosure from the Shanghai Stock Exchange for five consecutive years [29].