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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 簡要說明： 上表中路費收入為不含稅收入。 謹慎性陳述 董事會謹此提醒投資者，上述數據未經審計。由於完成路費收入的數據拆分、確 認需要履行一定的程序，以及在聯網收費的環境下部分路段的路費收入在月度結 算和披露時須以預估方式記錄，因此該等數據與定期報告披露的數據可能存在差 異。此外，本公司在披露當月預估數據時還會就上月預估數和上月實際結算數的 差異進行調整，導致個別數據可能會出現一定程度的異常。因此，本公告之路費 收入僅作爲階段性數據供投資者參考，投資者請審慎使用該等數據。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00548） 2025年8月未經審計路費收入 深圳高速公路集團股份有限公司（「本公司」）董事會（「董事會」）謹此公佈 本集團2025年8月的路費收入（未經審計）如下： | 收費公路 | 集團控股 | 收入合併 | 路費收入（人民幣千元） | | | --- | --- | --- ...

免费车辆包括哪些？ 免费时间怎么算？ 高速公路 以车辆 驶离 收费站 收费车道的时间为准。 来源：央视新闻微信公众号 记者从交通运输部了解到， 国庆中秋假期期间，小客车免费通行全国收费公路。 按照有关规定， 免费通行时段从节假日第一天，即10月1日0时开始，到节假日最后一天，即10月 8日24时结束， 普通公路以车辆通过收费站收费车道的时间为准，高速公路以车辆驶离出口收费车 道的时间为准。也就是说， 只要在免费时段驶出收费公路，即可免收通行费。 对于在免费时段即 将结束前仍在高速公路行驶的车辆，可以根据实际位置和时间，就近选择收费站驶离高速公路。 7座以下（含7座）载客车辆 允许在普通收费公路行驶的摩托车 特别提醒 走人工通道上高速，不建议在ETC车道下高速。建议各位车主尽量选择同一类型车道（即在哪个通 道上的就在哪个通道下），以免造成不必要的麻烦，尤其是ETC车辆。 特别是在人工通道上的高速，下高速时不要选择ETC通道，否则将无法正常通行，因没有入口信 息，出口栏杆机不会抬杆，只能折返至人工车道驶出。 H 进 1号 工车道 工车道 人工车道进 人工车道出 1年 H 进 ETC车道 ETC车道 ETC车道进 ...

机构：中金公司 研究员：Yuanfan GU/Wenjie ZHANG/Qibin FENG/Xin YANG Initial Coverage Investment positives We initiate coverage on Sichuan Expressway Company Limited (SichuanExpressway) with an OUTPERFORM rating and a target price of Rmb6.85for A-shares. We assign an OUTPERFORM rating and target price ofHK$5.61 for H-shares. Our valuations imply dividend yields of 4.5% and4.7% for A-shares in 2025 and 2026, and 6.0% and 6.4% for H-shares in2025 and 2026, based on the dividend yield valuation method. Thecompany is the on ...

（股 份 代 號：01052） 2025年7月未經審計營運資料 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告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （在 百 慕 達 註 冊 成 立 之 有 限 公 司） 本集團2025年7月 未 經 審 計 的 營 運 資 料 如 下： | | | | 日均收費車流量（輛 次） | | | | | 路 費 收 入（人 民 幣，千 元） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 當月環比 | 當月同比 | 2025年 | 累計同比 | | 當月環比 | 當月同比 | 2025年 | 累計同比 | | 項 目 | 當 月 | 變 動 | 變 動 | 累 計 | 變動 | 當月 | 變 動 | 變 動 | 累 計 | 變 動 ...

Core Viewpoint - Shanxi Expressway (000755.SZ), the only listed company in Shanxi Province's transportation system, has announced a share buyback plan by its actual controller, Shanxi Transportation Holding Group Co., Ltd. [1][2] Group 1: Share Buyback Plan - Shanxi Transportation Holding Group plans to increase its stake in Shanxi Expressway through its wholly-owned subsidiary, Shanxi Jiaokong Jinzi Management Co., Ltd., with a buyback amount between 30 million and 60 million yuan within six months starting from September 1, 2025 [1] - On September 1 and 2, Shanxi Jiaokong Jinzi purchased 1.3112 million shares of Shanxi Expressway, accounting for 0.089% of the total share capital [1] Group 2: Shareholding Structure - Before the buyback, Shanxi Transportation Holding Group and its subsidiaries held a combined 67.31% of Shanxi Expressway, with 58.42% and 8.89% held by Shanxi Provincial Expressway Group and Shanxi Road and Bridge Construction Group, respectively [1][2] - After the buyback, Shanxi Jiaokong Jinzi holds 1.3112 million shares, representing 0.089% of the total shares [1] Group 3: Company Performance - In the first half of 2025, Shanxi Expressway reported operating revenue of 730 million yuan, a slight decrease of 3.96% year-on-year, while net profit attributable to shareholders was 241 million yuan, an increase of 1.6% [2][3] - The company's main business gross margin was 58.52%, a slight increase of 0.06 percentage points year-on-year [3] - Total assets of Shanxi Expressway reached 12.229 billion yuan, with a debt-to-asset ratio of 56.71%, a decrease of 0.14 percentage points from the beginning of the period [4] Group 4: Financial Costs - Due to a decrease in loan principal and interest rates, financial expenses for Shanxi Expressway in the first half of 2025 amounted to 77.5529 million yuan, a reduction of 27.45% year-on-year [5]

Core Viewpoint - Zhejiang Hu-Hang-Yong Highway Co., Ltd. plans to absorb and merge with Zhejiang Zhenyang Development Co., Ltd. through a share exchange, with the aim of enhancing its business scope and operational efficiency [9][21]. Group 1: Transaction Overview - The transaction involves Zhejiang Hu-Hang-Yong issuing A-shares to exchange for all shares held by Zhenyang Development, leading to Zhenyang's delisting and eventual dissolution [9][21]. - The exchange ratio is set at 1:1.0800, meaning each share of Zhenyang will convert into 1.0800 shares of Zhejiang Hu-Hang-Yong [11][12]. - The A-share issuance price for Zhejiang Hu-Hang-Yong is determined at RMB 13.50 per share, with a premium of 29.83% over Zhenyang's average share price of RMB 11.23 [10][11]. Group 2: Financial Implications - Following the merger, Zhejiang Hu-Hang-Yong will inherit all assets, liabilities, and operations of Zhenyang, thereby expanding its business into the chemical sector [26][27]. - The total number of A-shares to be issued for the merger is approximately 477,246,833 shares, based on Zhenyang's total share capital of 441,895,215 shares [12][21]. - The merger is expected to optimize the governance structure and enhance resource allocation efficiency, thereby strengthening the company's competitive position [27]. Group 3: Shareholder Rights and Obligations - Shareholders of both companies who oppose the merger will have the right to request cash compensation for their shares, with the cash offer being provided by the controlling shareholder, Traffic Group [15][19]. - The merger will not change the actual controller of Zhejiang Hu-Hang-Yong, which remains Traffic Group, ensuring continuity in management and strategic direction [25][26]. - The cash dividend policy post-merger will ensure a minimum annual cash distribution of RMB 0.4100 per share for the next three years, subject to legal and regulatory compliance [25].

Overview of the Merger - The merger involves Zhejiang Huhangyong Expressway Co., Ltd. absorbing Zhejiang Zhanyang Development Co., Ltd. through a share exchange, with Zhejiang Huhangyong as the absorbing party and Zhejiang Zhanyang as the absorbed party [10][23] - After the merger, Zhejiang Zhanyang will terminate its listing and eventually deregister as a legal entity, while Zhejiang Huhangyong will inherit all assets, liabilities, and rights of Zhejiang Zhanyang [10][23] Share Exchange Details - The share exchange ratio is set at 1:1.0800, meaning each share of Zhejiang Zhanyang will be exchanged for 1.0800 shares of Zhejiang Huhangyong [12][13] - The issuance price for Zhejiang Huhangyong's A shares is set at RMB 13.50 per share, with a premium of 29.83% over the average price of Zhejiang Zhanyang's shares [11][12] Financial Implications - As of the signing of the proposal, Zhejiang Zhanyang has a total share capital of 441,895,215 shares, leading to the issuance of approximately 477,246,833 shares of Zhejiang Huhangyong for the merger [13] - The merger is classified as a major asset restructuring, with Zhejiang Huhangyong's total assets exceeding 50% of Zhejiang Zhanyang's total assets as of the end of 2024 [27] Regulatory and Compliance Aspects - The transaction is considered a related party transaction due to both companies being controlled by the same entity, the Transportation Group [27] - The merger does not constitute a restructuring listing, as there has been no change in control within the last 36 months [27] Cash Dividend Policy - Following the merger, Zhejiang Huhangyong plans to implement a cash dividend policy, ensuring a minimum annual cash distribution of RMB 0.4100 per share for the next three years, subject to legal and regulatory compliance [28] Business Impact - The merger is expected to enhance Zhejiang Huhangyong's operational capabilities, as it combines its expressway management expertise with Zhejiang Zhanyang's focus on chemical products, including chlor-alkali products and high-purity hydrogen [28]

智通财经APP获悉，瑞银发布研报称，江苏宁沪高速公路(00177)上半年经常性净利润同比跌12%，低于 该行及市场预期，主要与江苏银行去年下半年的中期股息支付有关。若排除该笔股息收入，集团上半年 经常性净利润亦仅有2%同比增长，仍低于预期，主要由于扩建工程导致高速公路车流量严重下跌。基 于路费收入表现疲弱，该行将2025至27年的盈利预测下调7%至9%，并料2025至28年的股息增长空间有 限，维持中性评级，目标价由11.6港元降至10.2港元。 （原标题：瑞银：降江苏宁沪高速公路(00177)目标价至10.2港元 维持"中性"评级） ...

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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 - 1 - 簡要說明： 上表中路費收入為不含稅收入。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00548） 2025年7月未經審計路費收入 深圳高速公路集團股份有限公司（「本公司」）董事會（「董事會」）謹此公佈 本集團2025年7月的路費收入（未經審計）如下： | 收費公路 | 集團控股 | 收入合併 | 路費收入（人民幣千元） | | | --- | --- | --- | --- | --- | | | 比例 | 比例 | 總計 | 日均 | | 廣東省－深圳地區： | | | | | | 梅觀高速 | 100% | 100% | 13,475 | 435 | | 機荷東段 | 100% | 100% | 62,364 | 2,012 | | 機荷西段 | 100% | 100% | 50,530 | 1,630 | | 沿江項目 | 100% | 100% | 69,475 | 2 ...

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]