招商公路(001965) - 2025年4月3日投资者关系活动记录表

Financial Performance - The company's revenue increased by 30.62% in 2024, primarily due to the consolidation of招商中铁 [2] - Net profit decreased by 21% year-on-year, attributed to asset optimization impacts, adverse weather, and an increase in free passage days [2] Project Updates - The completion of the 京津塘高速 expansion is now expected to be delayed beyond the end of 2026, with current project progress at only 3% [2] - During the construction period, there will be no lane closures or restrictions on freight vehicles [2] ESG Initiatives - The company maintained a leading position in ESG ratings, achieving AAA from 中证 and AA from 国证 and Wind, with Wind ESG score at 8.77, ranking first in the transportation sector [3] - In 2025, the company plans to enhance its ESG organizational and rating systems, integrating ESG into all business processes [3] Shareholder Returns - Since its listing, the company has returned nearly 170 billion CNY to shareholders through cash dividends, with a payout ratio exceeding 50% from 2022 to 2024 [4] - A share buyback plan was proposed for the second half of 2024 to enhance investor confidence [4] Growth Strategies - The investment operations sector aims to strengthen its core highway business and enhance internal growth momentum [5] - The technology sector will focus on building core competencies in innovation, while the smart transportation sector will deepen digital strategies [5] - The company is committed to high-quality development and effective value communication to improve market perception [5]