Core Viewpoint - China Resources Transportation (00269) reported a decline in revenue and a significant net loss for the fiscal year ending March 31, 2024, indicating financial challenges ahead [3]. Financial Performance - The company achieved a revenue of HKD 578 million, a year-on-year decrease of 2.61% [3]. - The net profit attributable to shareholders was a loss of HKD 338 million, compared to a profit of HKD 1.732 billion in the same period last year [3]. - The net cash flow from operating activities was HKD 187 million, down 82.12% year-on-year [3][18]. - The basic earnings per share stood at -HKD 0.03 [3]. Revenue Composition - The revenue composition for the fiscal year 2024-2025 shows that highway operations contributed HKD 576.9 million, while other operations contributed HKD 0.008 million [14]. Business Segments - The company operates primarily in three segments: highway operations, oil trading and services, and timber operations [8]. - The highway operations segment includes the operation, management, and maintenance of highways, along with investment in supporting facilities [8]. Cash Flow Analysis - The net cash flow from financing activities was -HKD 182 million, an increase of HKD 87.2 million year-on-year [18]. - The net cash flow from investing activities was -HKD 8.232 million, compared to -HKD 0.343 million in the previous year [18]. Asset and Liability Changes - As of March 31, 2025, prepayments increased by 139.9%, accounting for a 3.34 percentage point rise in total assets [28]. - Intangible assets decreased by 6.04%, leading to a 1.85 percentage point drop in total assets [28]. - Other payables (including interest and dividends) increased by 3.4%, contributing to a 6.41 percentage point rise in total assets [31]. Financial Ratios - The company reported a current ratio of 0.03 and a quick ratio of 0.03 during the reporting period [35].

Core Viewpoint - The Weifang West Service Area, the largest in Shandong Province, has completed its renovation and officially opened, showcasing a blend of commercial operations, cultural experiences, and leisure activities, reflecting Shandong Highway Group's commitment to the "six transformations" of service areas [1][6]. Group 1: Design and Environment - The service area features a Han Dynasty architectural style, integrating Qilu culture, natural landscapes, and modern commerce, highlighted by a giant kite sculpture that represents the local heritage [3]. - It includes twelve miniature scenic spots that embody the charm of Qilu, transforming brief stops into immersive experiences through attractions like the kite exhibition hall and cultural corridors [3]. Group 2: Business Operations - The service area hosts 22 different business outlets, combining international brands, well-known chains, and local specialties to create a new consumption ecosystem [4]. - Notable brands such as KFC and Kud Coffee make up 40% of the offerings, while the "Weifang Feast" food street features over 30 local delicacies, providing a culinary experience for visitors [4]. Group 3: Service Quality - The service area has strategically planned 997 parking spaces, with 26 charging stations and 44 charging guns to alleviate concerns about mileage and parking [6]. - It also includes upgraded facilities such as star-rated smart restrooms, totaling 244 toilet stalls, and features family-friendly amenities like third restrooms and nursing rooms, enhancing the overall service quality [6].

Core Viewpoint - The Weifang West Service Area, the largest in Shandong Province, has completed its renovation and officially opened, showcasing a blend of commercial operations, cultural experiences, and leisure activities, reflecting Shandong Highway Group's commitment to transforming service areas through a "six modernization" approach [1]. Group 1: Design and Environment - The service area features a Han Dynasty architectural style, integrating Qilu culture, natural landscapes, and modern commerce, highlighted by a giant kite sculpture and twelve miniature scenic spots that showcase the charm of Qilu [1]. - The design encourages immersive experiences, transforming brief stops into engaging visits through attractions like the kite exhibition hall and cultural corridors [1]. Group 2: Business Operations - The service area includes 22 business formats, combining international brands, well-known chains, and local specialties, creating a new consumption ecosystem [9]. - Notable brands such as KFC and Kud Coffee account for 40% of the offerings, while the "Weifang Feast" food street features over 30 local delicacies, enhancing the culinary experience for visitors [9]. Group 3: Service Quality - The service area has strategically planned 997 parking spaces and equipped 26 charging stations with 44 charging guns, addressing concerns about range and parking [9]. - Facilities include 244 restroom stalls, third-gender restrooms, and mother-baby rooms, promoting a user-friendly environment and elevating service quality from basic to premium [9]. Group 4: Future Plans - The renovation of the Weifang West Service Area represents the latest effort by Shandong Highway Group to create "three excellent" service areas, aiming to reshape the image of Shandong Highway [9]. - The company plans to continue its mission of "sharing a beautiful journey" by advancing the "six modernization" transformation of service areas to meet the high-quality travel needs of the public [9].

Core Points - Zhuhai Transportation Holding Group will implement a 50% toll discount for specific high-frequency highway sections starting from August 1, 2025, aimed at alleviating traffic congestion and promoting urban development [1][2] - The discount applies to vehicles using the Guangdong Toll Card (ETC) and requires a minimum number of trips on designated routes to qualify [1][2] - The initiative is expected to reduce travel costs for citizens and businesses, enhancing connectivity between the eastern and western parts of Zhuhai [2] Summary by Sections Toll Discount Details - The new discount will cover three high-frequency routes: Jiangzhu Expressway, Honghe Bridge, and Hekang Expressway, in addition to two existing discounted routes [1] - For example, a small car traveling from Jiangzhu Expressway to Xianghai Bridge will pay only 5 yuan, saving 4.5 yuan compared to the original fee [2] - The discount period is from August 1, 2025, to March 31, 2026, lasting for eight months [2] Operational Enhancements - Zhuhai Transportation Holding Group is responsible for major transportation projects in Zhuhai, including three bridges and two highways [2] - The group has upgraded services, including the installation of 49 ETC dedicated lanes and a "pre-transaction" system at some stations to improve traffic efficiency [2][3] - As of June 2025, over 30,000 ETC cards have been issued, leading to the highest usage rate in the province [2] Traffic Management Initiatives - To address peak hour traffic, 59 "smart toll robots" are deployed for 24-hour service, along with increased staffing during peak times for traffic management [3] - Future plans include adding right-hand drive service windows at toll stations frequented by vehicles from Hong Kong and Macau, and enhancing bilingual signage [3] - The company is also considering the development of convenience parking lots and sports parks under bridges, as well as upgrading the "Zhuhai Expressway" app for better user experience [3]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 佈 之 內 容 概 不 負 責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 會 就 因 本 公 佈 之 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 ROAD KING INFRASTRUCTURE LIMITED 路勁基建有限公司* （於百慕達註冊成立之有限公司） （股份代號：1098） 截至二零二五年六月三十日止六個月，本集團已簽訂合同額為人民幣 47.68 億元。連同協 議未轉合同額人民幣 4.64 億元，本集團期內的總物業銷售額為人民幣 52.32 億元。 截至二零二五年六月三十日止六個月，高速公路項目的路費收入及日均混合車流量分別 為港幣 8.79 億元及 91,000 架次。 上述所披露的數據為本集團的初步資料，均未經審核。基於在收集此類數據的過程中的 各種不確定性，上述數據與本公司將披露在半年度刊發的中期報告的數據，可能有所差 異。故此，是次所披 ...

Core Points - The G2001 Jinan Ring Expressway from Xinglong Hub to Shizhong Interchange will undergo construction from August 5, 2025, to September 30, 2026, to enhance safety and prevent traffic accidents [1] - The construction will involve the closure of the main line left lane (west to east direction) from Xinglong Hub to Shizhong Interchange [2] - Additional closures will affect the exit ramp from Changqing to Jinan South Toll Station and the entrance ramp from Jinan South Toll Station to Laiwu [3] - The Shizhong Interchange will also see the closure of the entrance ramp from Shizhong Toll Station to Laiwu [4] Traffic Management Measures - A speed limit of 80 km/h will be enforced on the G2001 Jinan Ring Expressway from Xinglong Hub to Yinjialin Hub, with restrictions on medium and heavy trucks and hazardous materials vehicles [5] - Further traffic control measures may be announced as construction progresses [5] Detour Routes - Short-distance traffic will be diverted via several routes, including: - Route 1: Jingtai Expressway → G104 National Road → South Second Ring Elevated Road → Jinan City [6] - Route 2: Jingtai Expressway → Jinan West Toll Station → Jinan City [6] - Route 3: Jingtai Expressway → International Medical Center Toll Station → Jinan City [6] - Long-distance transit traffic will also have designated routes from surrounding areas, including: - Route 1: Jingtai Expressway → Jiguang Expressway [8] - Route 2: Jingtai Expressway → Qingyin Expressway [8] - Route 3: Jingtai Expressway → Qinglan Expressway → Jinghu Expressway [8]

Company Overview - Huayu Expressway Group Limited was established on April 21, 2009, under the Cayman Islands Companies Law and was listed on the Hong Kong Stock Exchange on December 23, 2009 [2] - The company's main business involves liquor trading and the construction, operation, and management of the Qingping Expressway Phase I in mainland China [2] Financial Performance - As of December 31, 2024, Huayu Expressway reported total revenue of 198 million yuan, a year-on-year decrease of 51.33% [1] - The net profit attributable to the parent company was -8.514 million yuan, reflecting a year-on-year decrease of 102.58% [1] - The gross profit margin stood at 19.94%, while the debt-to-asset ratio was 23.67% [1] Stock Performance - As of July 23, the stock price of Huayu Expressway closed at 0.96 HKD per share, marking an increase of 11.63% [1] - Over the past month, the stock has seen a cumulative increase of 102.35%, and a year-to-date increase of 62.26%, outperforming the Hang Seng Index by 25.27% [1] Valuation Metrics - The current price-to-earnings (P/E) ratio for Huayu Expressway is -38.6, ranking 62nd in the industry [1] - The average P/E ratio for the food and beverage industry (TTM) is 24.73, with a median of 9.57 [1] - Comparatively, other companies in the industry have P/E ratios such as: - Other Ecological Animal Husbandry: 4.69 - Coconut Group: 5.54 - First Pacific: 5.62 - Weiyang Wine Holdings: 6.44 - Jierong International Holdings: 7.2 [1]

Group 1 - The overall operational situation of the project company is good, with no safety production accidents reported as of June 2025 [1] - The average daily toll traffic in June 2025 increased by 9.48% year-on-year, with average daily passenger vehicle traffic and freight vehicle traffic growing by 6.23% and 26.29% respectively [1] - The cumulative average daily traffic for 2025 reached 55,101 vehicles, representing a year-on-year increase of 12.78% [1] Group 2 - The increase in traffic and toll revenue is attributed to government measures supporting the real economy, which have effectively boosted market confidence and expectations [1] - The opening of new highway segments in late 2024 and early 2025 positively impacted traffic flow and toll revenue for the Hu-Su-Zhe Expressway [1] Group 3 - The disclosed data is based on the clearing data from the Jiangsu Provincial Highway Network Operation Management Center and has not been audited [1] - The fund management company assures that the fund's investment operations are normal and that there are no undisclosed significant information [2]

Core Viewpoint - The ongoing disputes at toll stations regarding the classification of fresh agricultural products for toll exemptions highlight the need for a more dynamic and updated "Green Channel" directory to reflect current agricultural practices and products [1][2][3] Group 1: Disputes and Regulations - A recent incident at a toll station in Sichuan involved a driver disputing the toll charge for transporting chive flowers, which are not included in the national "Green Channel" directory, unlike garlic sprouts [1] - Similar disputes have occurred in other regions, indicating a broader issue with the recognition and enforcement of the "Green Channel" policy for fresh agricultural products [1][2] Group 2: Need for Policy Update - The current "Green Channel" directory does not align with public perception and agricultural advancements, necessitating updates to include new vegetable varieties and improve clarity for enforcement personnel [2][3] - The Ministry of Transport and other departments have previously acknowledged the need for revisions to the directory to address inconsistencies in product identification and classification [2] Group 3: Importance of Dynamic Adjustments - Continuous updates to the "Green Channel" directory are essential to minimize disputes and support logistics efficiency, ultimately benefiting the supply chain for fresh produce [3] - The timely inclusion of new product names and categories in the directory is crucial for reducing logistics costs and ensuring that exemptions are applied correctly [3]

Core Viewpoint - The article discusses the launch of the Tianquan Service Area, which is the first open-style "transportation and tourism integration" service area in the province, marking a shift towards a new model of highway service areas that integrates local road networks, tourism resources, and regional economies [1][2]. Group 1: Service Area Overview - The Tianquan Service Area is part of the first batch of "dual-use" pilot projects by the Ministry of Transport, emphasizing its innovative approach to service area design [1][2]. - The opening of the Sixing Toll Station on July 1 marks the transformation of the Tianquan Service Area into an open comprehensive platform that efficiently connects highway traffic with local visitors [1]. Group 2: Features and Functions - The Sixing Toll Station occupies 6.74 acres and features a two-lane entry and exit system, along with a toll booth and station building [2]. - The station will link with existing facilities such as museums, cultural sites, and commercial clusters, aiming to create a complete experience for visitors that includes dining, shopping, entertainment, and learning [2]. - The station employs a "normal + emergency" dual-function design, allowing seamless access from local roads to the service area without entering the highway, enhancing visitor convenience [2]. - In emergency mode, the station can quickly convert into a logistics hub for emergency supplies and a rescue passage, improving regional traffic emergency response capabilities [2].