Core Viewpoint - Shenzhen Expressway Company Limited (00548) aims to enhance the efficiency of fund utilization while ensuring the safety of raised funds and compliance with investment plans by managing temporarily idle raised funds for cash management purposes, thereby increasing company revenue and protecting shareholder interests [1] Group 1 - The company has subscribed to a structured deposit product worth RMB 1 billion in a dedicated settlement account for cash management at Jiangsu Bank Co., Ltd., Shenzhen Technology Branch [1]

Group 1 - The company plans to engage in foreign exchange derivative trading to mitigate risks associated with foreign exchange market fluctuations, improve the efficiency of foreign currency usage, and reduce financial costs [2][6] - The total amount for the foreign exchange derivative trading is expected to be no more than $25 million or equivalent in other currencies, with a validity period of 12 months from the board's approval [3][9] - The trading will involve instruments such as foreign exchange forwards, swaps, and options, and will be conducted with banks and financial institutions [4][8] Group 2 - The company will use its own funds for the foreign exchange derivative trading, without involving raised funds or bank credit [7] - The trading strategy will adhere to hedging principles and will not engage in speculative trading [6][12] - The company has established a risk management framework, including a dedicated foreign exchange risk management team and protocols for monitoring and reporting [10][11] Group 3 - The company aims to enhance its financial stability and performance by using foreign exchange derivatives to protect against adverse currency fluctuations [12] - The board approved the foreign exchange derivative trading proposal on December 26, 2025, without requiring shareholder approval [9][14] - The company will ensure compliance with relevant accounting standards for the foreign exchange derivative transactions [13] Group 4 - The company also plans to use temporarily idle self-owned funds for cash management, with a maximum amount of 1 billion yuan, to improve fund utilization and increase returns for shareholders [17][19] - The cash management will involve purchasing safe and liquid financial products from banks and securities firms [20] - The board approved the cash management proposal on December 26, 2025, also without requiring shareholder approval [28]

Core Viewpoint - The company has announced the progress of using idle self-owned funds for treasury bond reverse repurchase, aiming to enhance fund utilization efficiency and increase returns without affecting daily operations [1] Summary by Relevant Sections Financial Management - The company received approval from the shareholders' meeting to use 300 million yuan of self-owned funds for cash management [1] - As of the announcement date, the company has recovered 100.727 million yuan of principal and 115,500 yuan of earnings from a 28-day treasury bond reverse repurchase, with an annualized yield of 1.495% [1] - On September 25, the company invested 100.841 million yuan in another 28-day treasury bond reverse repurchase, with an annualized yield of 1.705%, which is still outstanding [1] Risk Management - The returns from treasury bond reverse repurchase are higher than those from demand deposits, but the company acknowledges the existence of market risks and has implemented multiple risk control measures [1]