Core Viewpoint - The company held a Q3 2025 earnings presentation on November 6, 2025, to address investor inquiries and discuss its strategic direction in the intelligent transportation sector and other operational aspects [1]. Group 1: Strategic Planning - The company aims to integrate core capabilities in road and bridge operations with intelligent technology, focusing on developing smart hardware and software products for highway construction, maintenance, and operation [2]. - Future plans include exploring new business growth points in transportation and related fields, as well as strategic emerging industries [4]. Group 2: Technological Developments - The company has implemented energy storage technology in highway operations, establishing a "zero-carbon" toll station and an integrated service area, creating a collaborative system of "photovoltaics + energy storage + DC microgrid" [3]. Group 3: Risk Management - The company acknowledges the significant impact of government policies on toll operation periods and standards, and plans to enhance operational efficiency through management innovation and technological advancements [3]. - The company is committed to strengthening its compliance management system to mitigate risks associated with legal disputes and ensure stable development [6]. Group 4: Financial Performance - The company reported a year-on-year decline in net profit for Q3, primarily due to factors such as construction and traffic diversion, leading to lower-than-expected toll revenue [5].