吉林高速: 吉林高速公路股份有限公司2025年半年度报告

Core Viewpoint - Jilin Expressway Co., Ltd. reported a slight increase in revenue but a decline in net profit for the first half of 2025, indicating challenges in maintaining profitability amidst operational pressures and external factors [1][2]. Financial Performance - Revenue for the first half of 2025 was CNY 549.36 million, a 1.85% increase from CNY 539.39 million in the same period last year [2]. - Total profit decreased by 4.99% to CNY 323.76 million from CNY 340.76 million year-on-year [2]. - Net profit attributable to shareholders fell by 6.54% to CNY 228.16 million compared to CNY 244.13 million in the previous year [2]. - Basic earnings per share decreased by 7.69% to CNY 0.12 from CNY 0.13 [2]. Operational Overview - The company operates as the sole state-owned listed company in Jilin Province engaged in the investment, construction, operation, and management of expressways, with a total managed toll road length of 151.7 kilometers [3]. - The company faced a decline in toll revenue due to construction on the Jilin-Harbin Highway, prompting initiatives to enhance traffic flow and revenue [3][4]. - The company emphasized safety and efficiency in operations, achieving a customer satisfaction rate of 100% in service quality [3]. Management and Strategy - The company is focused on enhancing its operational management and service quality, with a commitment to safety and environmental standards [4]. - A comprehensive review of over 180 internal regulations was conducted to improve management practices and operational efficiency [4]. - The company is exploring new revenue streams and improving ETC (Electronic Toll Collection) usage to mitigate the impact of reduced toll revenues [3][4]. Assets and Liabilities - Total assets increased by 2.70% to CNY 6.45 billion from CNY 6.28 billion at the end of the previous year [2]. - Net assets attributable to shareholders rose by 1.22% to CNY 5.45 billion compared to CNY 5.39 billion at the end of last year [2]. - The company reported a significant decrease in accounts payable by 42.75% due to increased payments to suppliers [6]. Competitive Position - The company’s core business is the toll collection and management of expressways, which are critical for regional economic development and logistics efficiency [5]. - The Longping Expressway is a key route in Northeast China, enhancing connectivity between provinces and supporting the company's strategic importance in the region [5].