2025年8月29日，宁沪高速(600377.SH)发布2025年中报。 公司最新毛利率为33.17%，在已披露的同业公司中排名第15，较上季度毛利率减少1.51个百分点，较去年同期毛利率增加3.14个百分点。最新ROE为 6.04%，在已披露的同业公司中排名第4，较去年同期ROE减少1.85个百分点。 公司摊薄每股收益为0.48元，在已披露的同业公司中排名第4，较去年同报告期摊薄每股收益减少0.06元，同比较去年同期下降11.82%。 公司最新资产负债率为45.79%，在已披露的同业公司中排名第18，较上季度资产负债率增加1.50个百分点，较去年同期资产负债率减少1.41个百分点。 | 序号 | 股东名称 | 持股 | | --- | --- | --- | | 1 | 江苏交通控股有限公司 | 54.4 | | 2 | 招商局公路网络科技控股股份有限公司 | 11.6! | | ನ | 中国建设银行股份有限公司-华泰柏瑞中证红利低波动交易型开放式指数证券投 资基金 | 0.36 | | ব | 中国银河资产管理有限责任公司 | 0.23 | | 5 | 中国工商银行股份有限公司-嘉实沪深300红利低波动交 ...

2025年8月29日，皖通高速(600012.SH)发布2025年中报。 公司摊薄每股收益为0.58元，在已披露的同业公司中排名第1，较去年同报告期摊薄每股收益增加0.02元，实现3年连续上涨，同比较去年同期上涨3.65%。 公司最新总资产周转率为0.13次，在已披露的同业公司中排名第9。最新存货周转率为541.45次，在已披露的同业公司中排名第1，较去年同期存货周转率增 加92.98次，实现2年连续上涨，同比较去年同期上涨20.73%。 公司最新资产负债率为55.66%。 公司营业总收入为37.41亿元，在已披露的同业公司中排名第8，较去年同报告期营业总收入增加3.93亿元，实现2年连续上涨，同比较去年同期上涨 11.72%。归母净利润为9.60亿元，在已披露的同业公司中排名第6，较去年同报告期归母净利润增加3694.68万元，实现3年连续上涨，同比较去年同期上涨 4.00%。经营活动现金净流入为15.29亿元，在已披露的同业公司中排名第6。 公司最新毛利率为37.18%，在已披露的同业公司中排名第11，较上季度毛利率增加9.54个百分点。最新ROE为8.05%，在已披露的同业公司中排名第2，较去 年同期R ...

Core Insights - The company reported a total revenue of 2.118 billion yuan, ranking 12th among disclosed peers [1] - The net profit attributable to shareholders was 1.057 billion yuan, ranking 5th among disclosed peers, representing an increase of 202 million yuan or 23.58% year-on-year [1] - The net cash inflow from operating activities was 1.898 billion yuan, ranking 4th among disclosed peers, with an increase of 294 million yuan or 18.36% year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 44.75%, a decrease of 0.56 percentage points compared to the same period last year [3] - The latest gross profit margin is 68.20%, ranking 2nd among disclosed peers, with an increase of 0.45 percentage points from the previous quarter and an increase of 0.16 percentage points year-on-year [3] - The latest return on equity (ROE) is 10.06%, ranking 1st among disclosed peers, with an increase of 1.18 percentage points year-on-year [3] Earnings Per Share - The diluted earnings per share (EPS) is 0.51 yuan, ranking 3rd among disclosed peers, with an increase of 0.10 yuan or 24.39% year-on-year [3] - The latest total asset turnover ratio is 0.09 times [3]

Core Viewpoint - Jiangsu Ninghu Expressway (00177.HK) reported a decline in revenue and profit for the mid-year 2025 results, indicating challenges in the current operational environment [1] Financial Performance - The company's total revenue for the reporting period was approximately RMB 9.406 billion, representing a year-on-year decrease of about 5.56% [1] - After excluding construction revenue, the operating revenue was approximately RMB 5.883 billion, showing a slight decline of about 0.99% year-on-year [1] - The total profit amounted to approximately RMB 3.146 billion, down by about 9.97% compared to the previous year [1] - The net profit attributable to shareholders was approximately RMB 2.424 billion, reflecting a year-on-year decrease of about 11.81% [1] - Earnings per share were approximately RMB 0.4811 [1]

Core Viewpoint - Jilin Expressway (601518) reported a mixed financial performance for the first half of 2025, with revenue growth but a decline in net profit compared to the previous year [1] Financial Performance Summary - Total operating revenue reached 549 million yuan, an increase of 1.85% year-on-year [1] - Net profit attributable to shareholders was 228 million yuan, a decrease of 6.54% year-on-year [1] - In Q2 2025, operating revenue was 297 million yuan, up 8.45% year-on-year, while net profit was 114 million yuan, down 8.54% year-on-year [1] - Gross margin stood at 64.4%, down 7.88% year-on-year, and net margin was 45.12%, down 9.12% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 26.37 million yuan, accounting for 4.8% of revenue, a decrease of 17.14% year-on-year [1] - Earnings per share (EPS) was 0.12 yuan, down 7.69% year-on-year, while operating cash flow per share was 0.16 yuan, an increase of 32.12% year-on-year [1] Asset and Liability Overview - Cash and cash equivalents increased to 619.58 million yuan, a rise of 14.60% year-on-year [1] - Accounts receivable decreased to 117 million yuan, down 42.80% year-on-year [1] - Interest-bearing debt decreased to 15.10 million yuan, down 31.20% year-on-year [1] Return on Investment Analysis - The company's return on invested capital (ROIC) was 9.83%, indicating average capital returns [3] - Historical data shows a median ROIC of 6.58% since the company went public, with the lowest ROIC recorded in 2020 at 2.54% [3] Debt Servicing Capability - The company maintains a healthy cash asset position, indicating strong debt servicing capability [4]

据证券之星公开数据整理，近期山西高速（000755）发布2025年中报。截至本报告期末，公司营业总收 入7.3亿元，同比下降3.96%，归母净利润2.41亿元，同比上升1.6%。按单季度数据看，第二季度营业总 收入3.91亿元，同比下降8.95%，第二季度归母净利润1.34亿元，同比下降12.45%。本报告期山西高速 盈利能力上升，毛利率同比增幅0.1%，净利率同比增幅5.79%。 证券之星价投圈财报分析工具显示： 业务评价：公司去年的ROIC为5.57%，资本回报率一般。去年的净利率为28.96%，算上全部成本后， 公司产品或服务的附加值高。从历史年报数据统计来看，公司近10年来中位数ROIC为5.71%，中位投资 回报较弱，其中最惨年份2016年的ROIC为-12.88%，投资回报极差。公司历史上的财报相对一般，公司 上市来已有年报27份，亏损年份5次，如无借壳上市等因素，价投一般不看这类公司。 偿债能力：公司现金资产非常健康。 财报体检工具显示： 建议关注公司债务状况（有息资产负债率已达51.1%） 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号） ...

Core Viewpoint - The company has reported a significant increase in revenue and net profit for the first half of 2025, driven by growth in toll revenue and construction services, while also completing strategic acquisitions to enhance its operational capabilities [10][11][26]. Financial Data - The company achieved operating revenue of RMB 374,105 million in the first half of 2025, an increase of 11.72% compared to RMB 334,851 million in the same period of 2024 [10][11]. - The total profit for the period was RMB 127,701 million, up 3.32% from RMB 123,602 million year-on-year [10][11]. - The net profit attributable to shareholders was RMB 96,048 million, reflecting a 4.00% increase from RMB 92,353 million in 2024 [10][11]. - Basic earnings per share rose to RMB 0.5771, a 3.65% increase from RMB 0.5568 in the previous year [10][11]. Business Operations - The company has focused on enhancing its core highway operations, improving management efficiency, and implementing smart rescue systems to boost emergency response capabilities [7][8]. - The average traffic flow rate during major holidays exceeded 99.6%, positioning the company among the top in the industry [7]. - The company has successfully completed significant equity financing and bond issuance to optimize its capital structure [8]. Major Events - The company signed a conditional agreement to acquire 100% equity of Anhui Fuzhou Highway Co., Ltd. and Anhui Suxu Highway Co., Ltd. for a total consideration of RMB 477,080 million, enhancing its asset base [26][27]. - The acquisition was completed with the registration of the companies as wholly-owned subsidiaries by March 27, 2025 [27]. Shareholder Information - As of the reporting period, the total number of A-share shareholders was 16,903, while H-share shareholders numbered 62 [5]. - Major shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 29.06% of the company's total shares [84].

Group 1 - The company, Anhui Expressway (SH 600012), reported a revenue of approximately 3.741 billion yuan for the first half of 2025, representing a year-on-year increase of 11.72% [1] - The net profit attributable to shareholders of the listed company was about 960 million yuan, showing a year-on-year increase of 4% [1] - The basic earnings per share (EPS) was 0.5771 yuan, which is a year-on-year increase of 3.65% [1]

Core Viewpoint - Anhui Expressway (SH 600012) announced the convening of its 15th meeting of the 10th Board of Directors on August 28, 2025, to discuss the adjustment of the 2025 budget [1] Financial Summary - For the fiscal year 2024, Anhui Expressway's revenue composition is as follows: toll revenue accounts for 54.79%, construction period revenue/cost accounts for 44.18%, and other business activities account for 1.03% [1]

Group 1 - Ninghu Expressway (SH 600377) announced on August 29 that its 11th Board of Directors meeting was held on August 28, 2025, to review a risk assessment report regarding financial business with Jiangsu Transportation Holding Group [1] - For the first half of 2025, the revenue composition of Ninghu Expressway was as follows: construction period revenue/cost accounted for 37.46%, Hu-Ning Expressway accounted for 28.31%, supporting service business accounted for 8.8%, Ningchang Expressway and Zhenli Expressway accounted for 6.23%, and Wufengshan Bridge accounted for 6.04% [1]