12月28日，由山东高速（600350）集团投资建设的全国首个"六改十二车道"高速公路改扩建项目——京 台高速齐河至济南段(以下简称"京台高速齐济段")改扩建项目建成通车。至此，京台高速山东段全部完 成升级改造。 京台高速齐济段改扩建项目起自晏城枢纽，途经齐河县、槐荫区、市中区，止于殷家林枢纽，全长 23.999公里。项目不仅是交通运输部公路水路重点项目、山东省重大项目，更是京台高速山东段改扩建 的收官之作。项目建成通车后，将大幅提升京台高速山东段整体通行能力与效率，强化京台高速南北运 输干线功能，为交通强国山东示范区建设与区域高质量发展提供坚实交通支撑。 畅通交通动脉，拓展南北通衢 京台高速齐济段作为G3京台高速、G35济广高速与济南绕城高速的共线段，是国家干线动脉，常年超负 荷运转导致拥堵指数居高不下。原有六车道已无法较好地满足社会公众通行需求，实施改扩建迫在眉 睫。 面对黄河桥位的稀缺性、既有道路的不可替代性，"六改十二车道"的改扩建方案成为破局关键。项目采 用"两侧分离加宽高架桥为主+黄河大桥单侧分离加宽+起终点衔接段两侧拼宽"的综合改扩建方式，取 得了"七个首创"，开创了我国超多车道高速公路改扩建工 ...

转自：贵州日报 新华社济南12月28日电 12月28日，我国首个"6车道改12车道"高速公路改扩建项目——京台高速齐河至 济南段改扩建项目建成通车。至此，京台高速山东段全部完成升级改造。 据了解，京台高速齐济段改扩建项目由山东高速集团投资建设，项目起自济南绕城高速公路晏城枢纽， 途经德州市齐河县、济南市槐荫区、市中区，止于殷家林枢纽，全长23.999公里。项目建成通车后，将 进一步优化国家高速公路南北网络通行能力，大幅提升京台高速山东段整体通行能力与效率，强化京台 高速南北运输干线功能。 山东高速集团京台高速齐济段改扩建项目办综合计划处处长王伟介绍，在线路设计上，项目创新采用起 终点12车道整体式与路段分离式相结合的复合断面设计，针对起终点8车道与12车道衔接过渡，设置预 分流匝道，减少车辆交织；建设横向应急救援通道，为跨路应急救援提供保障。此外，项目还通过建设 槐荫枢纽立体复合式互通、联络匝道，实现新老路线互联互通，大幅提升通行效率和驾乘体验。 除此之外，在智能建造方面，项目自主开发BIM协同管理平台，实现从施工、验收到计量支付的全流程 线上化管理与可视化呈现。围绕跨黄河穿城区绿色协调发展、黄河特大桥安全建 ...

Summary of Wuhu Expressway Conference Call Company Overview - **Company**: Wuhu Expressway - **Industry**: Expressway and Infrastructure Key Points Financial Performance - In the first three quarters of 2025, Wuhu Expressway achieved a revenue of 3.894 billion yuan, representing a year-on-year growth of 14% [3][4] - The net profit attributable to shareholders was 1.374 billion yuan, with a year-on-year increase of 12.85% [2][3] - Communication fees have recovered to approximately 95% of pre-construction levels following the completion of the Xuan-Guan expansion project [3][4] Growth Drivers - The completion of the Xuan-Guan expansion project positively impacted revenue, with communication fees showing significant growth [3][5] - The acquisition of Fuzhou Four Happiness filled a gap in the Wuhu North road network, and investments in S62 and S98 projects are expected to deepen collaboration with Anhui Transportation Control Group [2][4] - The company has also acquired a 7% stake in Shandong Expressway to leverage its operational experience and diversify its business [3][12] Future Outlook - The company anticipates continued growth in communication fees in the fourth quarter, driven by favorable weather and policy adjustments [2][4] - For the first half of 2026, a cautious optimism is expressed regarding the potential for high year-on-year growth in communication fees, although exceeding pre-construction levels remains uncertain [6] Capital Expenditure and Financial Strategy - Wuhu Expressway's capital expenditure has been substantial, with a budget of 12 billion yuan for the Gaojie Expressway expansion, of which 20% will be funded as equity and the remainder through project loans [3][11] - The company plans to maintain a dividend payout ratio of 60% for 2023-2025 due to cash flow constraints, despite an initial plan for a 75% payout [10][11] Policy Impact - Changes in the toll settlement method for the Anqing Bridge have streamlined operations and positively impacted communication fee revenue [8] - The adjustment of the Hu Tong card discount from 85% to 95% is expected to increase revenue by approximately 100 million yuan this year [8] Market Conditions - Surrounding road construction has not significantly impacted traffic volume or toll revenue for Wuhu Expressway, indicating a stable operational environment [9] Financial Costs - The company has experienced an increase in financial expenses due to the capitalization of interest from completed projects and the rising debt scale from new projects [13] Investment Contributions - Swiss investment (RICS) contributed over 20 million yuan in profit last year, with stable underlying assets positively influencing the company's performance [14] This summary encapsulates the essential insights from the conference call, highlighting the company's financial performance, growth strategies, future outlook, and the impact of external factors on its operations.

Core Viewpoint - The company has received approval for the expansion project of the Dongguan-Shenzhen Expressway, which is currently under construction and progressing as planned [1] Group 1: Project Approval and Details - The Dongguan-Shenzhen Expressway expansion project was approved by the Guangdong Provincial Development and Reform Commission in October 2022 [1] - The project includes the construction of the Dongguan to Shenzhen section of the Pearl River Delta Ring Road, specifically the expansion of the Tangxia to Dongcheng section and the Longlin branch line [1] - Construction of the project commenced at the end of 2022 and is currently advancing in an orderly manner [1] Group 2: Company Operations - The company operates the Dongguan-Shenzhen Expressway, which encompasses the first and second phases, the third phase Dongcheng section, and the Longlin branch line [1]

11月28日，由山东高速（600350）集团投资建设的东营至青州高速公路（以下简称"东青高速"）改扩建 项目全线通车运营。 东青高速北起东营垦利区，南至潍坊青州市，是G18荣乌高速、G25长深高速的重要组成部分，也是山 东省"十二纵八横十一射"高速网的核心路段。项目全长88.7公里，采用双向八车道高速公路标准，设计 速度120公里/小时，建成通车后，将进一步完善省内高速路网、促进区域互联互通，为黄河流域生态保 护和高质量发展注入强劲动能。 扩容升级保畅通 自2000年通车以来，东青高速见证了区域经济的飞速发展，也承受着交通量持续激增的压力。2019年日 均车流量达5.6万辆次，节假日峰值突破10.2万辆次，远超四车道一级公路2.5万辆次的设计承载能力， 其中黄河大桥至辛庄子枢纽段常年处于四级服务水平，"逢节必堵"成为群众出行的痛点。 东青高速改扩建项目历经分期施工、分段通车，最终实现双向八车道全面升级。 针对黄河三角洲特殊地质条件，项目通过方案比选，采用换填和加固土桩、管桩等方式加固软土地基， 并加强施工过程中的沉降、位移观测，控制填土速率，保障地基承载能力。项目大面积使用植物纤维 毯，有效解决渔区土壤盐碱化 ...

Core Viewpoint - The Chengle Expressway expansion project is a significant infrastructure initiative in Sichuan Province, involving a total investment of approximately 25.1 billion RMB and aiming to enhance traffic capacity and connectivity in the region [1][2] Group 1: Project Overview - The Chengle Expressway expansion project is the first eight-lane expressway across city boundaries in Sichuan Province and represents a large-scale "four-to-eight" upgrade of an operational expressway [1] - The project spans a total length of 136.124 kilometers, featuring three service areas and 17 toll stations [1] - The total investment for the project is estimated at around 251 billion RMB, which includes new construction, road widening, and a bypass segment through Leshan city [1] Group 2: Compensation Agreement - A temporary compensation agreement has been signed between Chengle Company and Chengdu West Ring Expressway Company, with Chengle Company agreeing to pay 6.5725 million RMB for the temporary occupation of road assets during construction [1] - The compensation is intended to cover losses incurred by Chengdu West Ring Expressway Company due to the construction activities related to the expansion project [1][2] Group 3: Construction Details - The mainline of the Chengle Expressway expansion will include a new interchange that crosses over the Chengdu Ring Expressway [2] - The construction will require the temporary occupation of various lanes and emergency lanes on the Chengdu Ring Expressway to facilitate the expansion work [2]

Core Points - The G50 Hu-Yu Expressway expansion project from Dianjiang to Changshou officially commenced on October 28, 2023, as announced by the Chongqing Municipal Transportation Committee [1][5] - The project aims to enhance the traffic capacity and service level of this critical transportation artery connecting Chongqing with the Yangtze River Delta region [3][4] Project Overview - The Dian-Chang Expressway expansion project will be constructed along the existing highway, utilizing a "road expansion + smart transformation" approach, covering a total length of 45.6 kilometers with an estimated investment of approximately 5.134 billion yuan [3][4] - The route starts from the Taiping Hub in Dianjiang County and ends at the Changliang Hub, featuring 32 bridges, 7 interchanges, and 1 service area [3][4] Technical Specifications - The section from Taiping Hub to Yuntai Hub, approximately 18.8 kilometers long, will be expanded to a dual six-lane highway with a design speed of 100 km/h [3] - The segment from Yuntai Hub to Changliang Hub, about 26.8 kilometers, will be upgraded to a dual eight-lane highway, also with a design speed of 100 km/h [3] Economic Impact - Upon completion, the project is expected to significantly improve the connectivity between Dianjiang, Changshou, and Liangping, thereby enhancing the overall highway network in Chongqing and supporting regional resource development, rural revitalization, and industrial park growth [4] - In 2023, Chongqing has initiated several highway projects totaling 272 kilometers, with an expected total highway mileage of 4,770 kilometers by the end of 2025, exceeding the targets set for the 14th Five-Year Plan [5]

Core Points - The Shenhai Expressway expansion project has successfully restored two-way traffic on a 1.6-kilometer section from Lanshan toll station to the Jiangsu provincial border, marking the first segment to achieve this milestone [1] - The project aims to enhance the capacity and service level of the Shenhai National Expressway, which is crucial for accelerating infrastructure connectivity in the Jiaodong Economic Circle and promoting integrated development [2] Group 1 - The Shenhai Expressway expansion project covers a total length of 61.7 kilometers, converting from a dual four-lane to a dual eight-lane configuration [2] - The construction process has utilized advanced technologies such as "3D milling and paving" and "sensor geogrid" to address challenges like uneven road surface and settlement issues [1] - The project has implemented a multi-layer digital twin system to reduce driver decision-making errors and improve road efficiency and safety [1] Group 2 - The project is expected to be fully operational by the end of the year, with the new toll station at Rizhao North entering the testing phase and set to open on October 18 [1] - The expansion is designed to significantly improve the transportation capacity of the Shenhai Expressway, facilitating better connectivity and cooperation within the region [2]

Core Viewpoint - The company has entered into two significant electromechanical engineering contracts for the approved road expansion project, which will enhance the capacity and service level of the road, thereby strengthening its core competitiveness in the toll road industry [1][2]. Group 1: Contract Details - The company signed an electromechanical engineering contract with Guangdong Xinyue for JD1 section, with a contract value of RMB 422 million [1]. - The company also signed an electromechanical engineering contract with Beijing Gongke Feida for JD2 section, with a contract value of RMB 289 million [1]. - Both contracts pertain to a total length of approximately 68.861 kilometers, covering systems such as toll, monitoring, communication, power supply, and lighting [1]. Group 2: Strategic Importance - The execution of the approved road expansion project is part of the company's main business in investment, construction, operation, and maintenance of highways [2]. - This project is expected to enhance the road's traffic capacity and service level, aligning with the company's development strategy and reinforcing its competitive edge in the toll road sector [2].

Core Viewpoint - The company has entered into two significant electromechanical engineering contracts for the approved road expansion project, which will enhance its competitiveness in the toll road industry [1][2]. Group 1: Contract Details - The company signed an electromechanical engineering contract with Guangdong Xinyue for a total contract value of RMB 422 million [1]. - Another contract was signed with Beijing Gongke Feida for a total contract value of RMB 289 million [1]. - Both contracts pertain to a road section approximately 68.861 kilometers long, covering the construction of toll systems, monitoring systems, communication systems, and power supply systems [1]. Group 2: Strategic Importance - The execution of these contracts is part of the approved road expansion project, aimed at improving traffic capacity and service levels [2]. - This initiative aligns with the company's strategic goal to strengthen its core competitiveness in the toll road sector [2].