12月29日，山西高速集团股份有限公司（以下简称"山西高速"）发布关于收购山西交通实业发展集团有限公司 15%股权暨关联交易的公告。 据公告，山西高速拟以现金收购苏汽集团有限公司（以下简称"苏汽集团"）持有的山西交通实业发展集团有限公 司（以下简称"实业集团"）15%的股权，交易价款为7,480万元。 1、 今年前7月，实业集团实现营收11.68亿元，净利润0.61亿元。截至7月末，总资产13.2亿元，净资产4.74亿元。 本次交易完成后，山西高速将成为实业集团参股股东，形成与间接控股股东山西交控集团、公司持股5%以上股 东招商公路的共同投资，为被动形成的关联交易。 2、 山西高速此前名为"山西路桥"，其前身是山西三维，为阳煤集团（现更名华阳集团）旗下的有机精细化工实力化 工企业。 山西三维本来是山西维尼纶厂，始建于1970年。1996年组建改制为股份公司，1997年6月正式在A股挂牌上市， 曾是国内最大的PVA、BDO和白乳胶的生产商，但业绩不佳。2016年初，山西省国资委决定通过资产重组的方式 重组山西三维，置出上市公司业绩不佳的化工资产，同时置入山西路桥集团旗下盈利能力相对更好的高速资产。 2018年1 ...

本次交易符合公司整体战略和长远发展规划，实业集团为山西交控集团政府还贷高速公路服务区的唯一 授权经营单位，是山西交控集团路域经济发展的重要组成板块，通过参股实业集团，公司可依托实业集 团近年来在路域经济领域的发展基础、市场优势，通过业态创新赋能、产业合作资源对接、品牌提升协 同和供应链提效支撑等方式，发挥协同效应，进一步优化公司业务布局，推动山西高速路域经济产业高 质量发展。 山西高速（000755）(000755.SZ)发布公告，公司拟以现金收购苏汽集团有限公司(以下简称"苏汽集团") 持有的山西交通实业发展集团有限公司(以下简称"实业集团""标的公司")15%的股权，交易价款为7480 万元。 ...

智通财经APP讯，山西高速(000755.SZ)发布公告，公司拟以现金收购苏汽集团有限公司(以下简称"苏汽 集团")持有的山西交通实业发展集团有限公司(以下简称"实业集团""标的公司")15%的股权，交易价款 为7480万元。 本次交易符合公司整体战略和长远发展规划，实业集团为山西交控集团政府还贷高速公路服务区的唯一 授权经营单位，是山西交控集团路域经济发展的重要组成板块，通过参股实业集团，公司可依托实业集 团近年来在路域经济领域的发展基础、市场优势，通过业态创新赋能、产业合作资源对接、品牌提升协 同和供应链提效支撑等方式，发挥协同效应，进一步优化公司业务布局，推动山西高速路域经济产业高 质量发展。 ...

Core Viewpoint - Shanxi Expressway Group Co., Ltd. has established a three-year shareholder return plan (2023-2025), prioritizing cash dividends and aiming to distribute at least 40% of the annual distributable profits as cash dividends to shareholders [1][4]. Financial Performance - In Q1 2025, the company reported a net profit of 107 million yuan, a year-on-year increase of 26.92%, attributed to increased toll revenue and cost reduction efforts [3][4]. - The company plans to distribute a cash dividend of 2 yuan per 10 shares for the fiscal year 2024, totaling approximately 293.46 million yuan, which represents 73.2% of the annual distributable profits [1][4]. Investment and Development Strategy - The company is focusing on integrating high-quality asset resources into the listed company and enhancing fixed asset investments to improve operational quality [1][4]. - In 2024, the company allocated 6.0735 million yuan for R&D, focusing on six key projects related to highway maintenance and technology [3][4]. Operational Efficiency - The company has implemented measures to reduce operational costs, including the promotion of unmanned toll stations and centralized monitoring systems, which have contributed to a significant decrease in financial expenses [3][4]. - The company aims to enhance its core competitiveness by focusing on asset and capital management, innovation, and operational efficiency [4][6]. Market Position and Future Plans - As the only publicly listed expressway platform in the province, the company has a unique resource advantage and plans to expand its market share through strategic asset acquisitions and operational improvements [4][6]. - The company is exploring the integration of service areas with commercial development, logistics, and tourism to enhance revenue from its road economy segment [4][6].

Core Viewpoint - Yunnan Province is implementing policies to enhance the economic efficiency of its highway projects through the integration of various industries and resources, aiming for sustainable development and improved asset utilization [1][2]. Group 1: Highway Development and Economic Impact - By 2024, Yunnan's highway mileage is expected to reach 10,758 kilometers, ranking second in the country and covering 124 counties, which will significantly support the province's economic and social development [1]. - The province faces challenges such as high bridge and tunnel ratios, elevated average construction costs per kilometer, and long investment recovery periods, leading to operational pressures on some highway projects [1]. Group 2: Policy Measures for Integration - The newly released policy encourages the establishment of dedicated sections for integrated development in feasibility reports for new or expanded highways, promoting coordinated planning and approval processes [2]. - The policy supports various integration paths, including "Highway + Industry," "Highway + Culture and Tourism," "Highway + Logistics," and "Highway + Digital Intelligence," aiming to enhance the synergy between highways and these sectors [2]. Group 3: Implementation and Future Plans - By June 2025, Yunnan plans to launch a series of "Highway +" projects, focusing on summarizing and promoting successful experiences to enhance the comprehensive economic benefits of highway projects [2]. - The policy also emphasizes differentiated tolls, improved service area operations, and better financing environments to stimulate the vitality of integrated development [2].