[年报]粤高速Ｂ(200429):2022年年度报告（英文版）
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时间：2023年03月20日 21:31:43 中财网 |
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原标题:粤高速Ｂ:2022年年度报告（英文版）
GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
2022AnnualReport
March2023
I.ImportantNotice,TableofContentsandDefinitions
TheBoardofDirectorsandthedirectors,SupervisoryCommitteeandsupervisorsandSeniorExecutivesoftheCompanyherebywarrantthatattheyear,therearenomisstatement,misleadingrepresentationorimportantomissions in this report and shall assume joint and several liability for the authenticity, accuracy and
completenessofthecontentshereof.
Mr.MiaoDeshan,TheCompanyleader,Mr.WangChunhua,GeneralManager,Mr.LuMing,ChieffinancialofficerandtheMs.ZhouFang,thepersoninchargeoftheaccountingdepartment(thepersoninchargeoftheaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthisannualreport.
AllthedirectorsattendedtheboardmeetingforreviewingtheAnnualReport.ThetollrevenuesofExpresswayismainsourceofthemajorbusinessincomeofthecompany,Thechargestandardofvehicletollmustbesubmittedtothesamelevelpeople'sgovernmentforreviewandapprovalafterthetransport regulatory department of province, autonomous region or municipality directly under the central
governmentinconjunctionwiththepriceregulatorydepartmentatthesamelevelconsenteduponexamination.Therefore,theadjustmenttrendofthechargepriceandthechargepriceifhasthecorrespondingadjustmentinthefuturepricelevelwhenthecostofthecompanyrisesstilldependontheapprovalofrelevantnationalpoliciesandgovernmentdepartments, andthecompany isn'table tomake timely adjustmentto thecharge standardinaccordancewiththeitsownoperationcostorthechangeofmarketsupplydemand.So,thechangeofchargepolicyandtheadjustmentofchargestandardalsohaveinfluenceontheexpresswaysoperatedbythecompanytosomeextent.So,thechargingpolicychangesandchargesadjustmentwillaffectthehighwaysoperationofthecompany.
Theprofitdistributionproposalreviewedandapprovedbytheboardingmeetingwassummarizedasfollows:2,090,806,126forthebase,theCompanywoulddistributecashdividendtoalltheshareholdersattherateofCNY4.28forevery10shares(withtaxinclusive),0bonusshares（includingtax）andnoreservewouldbeconvertedintosharecapital.
TableofContents
I.ImportantNotice,TableofcontentsandDefinitions
II.CompanyProfile&FinancialHighlights.
III.ManagementDiscussion&Analysis
IV.CorporateGovernance
V.Environmental&SocialResponsibility
VI.ImportantEvents
VII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVIII.SituationofthePreferredShares
IX.CorporateBond
X.FinancialReport
Documentsavailableforinspection
1.Accountingstatementscarriedwithpersonalsignaturesandsealsoflegalrepresentative,GeneralManager,ChiefFinancialofficerandFinancialPrincipal.
2.OriginalofAuditors’ReportcarriedwiththesealofCertifiedPublicAccountantsaswellaspersonalsignatures
ofcertifiedPublicaccountants.
3.ThetextsofalltheCompany'sdocumentspubliclydisclosedonthenewspapersandperiodicalsdesignatedbyChinaSecuritiesRegulatoryCommissioninthereportperiod.
Definition
| Termstobedefined | Refersto | Definition | | Reportingperiod,Thisyear | Refersto | January1,2022toDecember31,2022 | | Reportingdate | Refersto | Theannualreportofthecompanywasapprovedbytheboardofdirectors
on2022,thatisMarch20,2023 | | YOY | Refersto | Comparedwith2021 | | TheCompany/ThisCompany | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd. | | CommunicationGroup | Refersto | GuangdongCommunicationGroupCo.,Ltd. | | GuangfoCompany | Refersto | GuangdongGuangfoExpresswayCo.,Ltd. | | GuangdongExpresswayCapital | Refersto | YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | | GuanghuiCompany | Refersto | GuangdongGuanghuiExpresswayCo.,Ltd. | | GuangdongExpressway
Technology | Refersto | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. |
II.CompanyProfile&FinancialHighlights.
1.CompanyProfile
| Stockabbreviation: | ExpresswayA,ExpresswayB | Stockcode | 000429、200429 | | Stockexchangeforlisting | ShenzhenStockExchange | | | | NameinChinese | 广东省高速公路发展股份有限公司 | | | | AbbreviationofRegistered
Company(ifany) | 粤高速 | | | | Englishname(Ifany) | GuangdongProvincialExpresswayDevelopmentCo.Ltd. | | | | Englishabbreviation(Ifany) | GPED | | | | LegalRepresentative | MiaoDeshan | | | | Registeredaddress | 85BaiyunRoad,Guangzhou,GuangdongProvince | | | | PostalcodeoftheRegistered
Address | 510100 | | | | Historicalchangeofthe
company'sregisteredaddress | 1992—1999，4/F,DongjianBuilding,No.503,DongfengRoad,Guangzhou;Since1999,85Baiyun
Road,Guangzhou,GuangdongProvince | | | | OfficeAddress | 45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDisrtict,
Guangzhou | | | | Postalcodeoftheofficeaddress | 510623 | | | | InternetWebSite | www.gpedcl.com | | | | E-mail | [email protected] | | |
2.Contactpersonandcontactmanner
| | Boardsecretary | SecuritiesaffairsRepresentative | | Name | YangHanming | LiangJirong | | Contact
address | 46/F,LitongPlaza,No.32,ZhujiangEastRoad,Zhujiang
NewCity,TianheDistrict,Guangzhou | 45/F,LitongPlaza,No.32,ZhujiangEastRoad,Zhujiang
NewCity,TianheDistrict,Guangzhou | | Tel | 020-29004619 | 020-29004523 | | Fax | 020-38787002 | 020-38787002 | | E-mail | [email protected] | [email protected] |
3.Informationdisclosureandplaced
| NewspapersselectedbytheCompanyforinformation
disclosure | SecuritiesTimes,ChinaSecurities,ShanghaiSecuritiesDaily
andHongkongCommercialDaily. | | InternetwebsitedesignatedbyCSRCforpublishingtheAnnual
reportoftheCompany | www.cninfo.com.cn | | TheplacewheretheAnnualreportispreparedandplaced | SecuritiesaffairDeptoftheCompany |
4.ChangesinRegistration
| OrganizationCode | 91440000190352102M | | Changesinprincipalbusinessactivitiessince
listing(ifany) | Nochange | | Changesisthecontrollingshareholderinthe | OnNovember2000,InaccordancewithCaiGuanZi(2008)No.109 | | past(isany) | DocumentofMinistryofFinanceandYueBanHan(2000)No.574Document
ofGeneralOfficeofGuangdongPeople'sGovernment,thestate-ownedshares
ofGuangdongExpresswayoriginallyentrustedtoGuangdongExpressway
Company(nowrenamedas"GuangdongProvincialExpresswayCo.,Ltd.")
formanagementweretransferredtoGuangdongCommunicationGroupCo.,
Ltd.forholdingandmanagement.Afterthetransferofstate-ownedshares,
GuangdongCommunicationGroupCo.,Ltd.becamethelargestshareholderof
theCompany.Thenatureofequitywasdefinedasstate-ownedshares. |
5.OtherRelevantInformation
CPAsengaged
| NameoftheCPAs | YongTuoCerifiedPublicAccountants(SpecialGeneral
Partnership) | | Officeaddress： | 13/F,2Building,No.1NorthStreet,Guandongdian,Chaoyang
District,Beijing | | NamesoftheCertifiedPublicAccountantsasthesignatories | ShiShaoyu,HuangZhiyan |
ThesponsorperformingpersistentsupervisiondutiesengagedbytheCompanyinthereportingperiod.□Applicable√Notapplicable
TheFinancialadvisorperformingpersistentsupervisiondutiesengagedbytheCompanyinthereportingperiod□Applicable√Notapplicable
6.SummaryofAccountingdataandFinancialindex
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata□Yes?No
| | 2022 | 2021 | Changesofthis
periodoversame
periodofLastyear
（％） | 2020 | | Operatingincome（Yuan） | 4,168,634,113.98 | 5,288,057,677.93 | -21.17% | 3,790,348,876.26 | | Netprofitattributabletotheshareholders
ofthelistedcompany Yuan
（ ） | 1,277,069,521.90 | 1,700,406,981.99 | -24.90% | 867,842,774.78 | | Netprofitafterdeductingofnon-recurring
gain/lossattributabletotheshareholdersof
listedcompany（Yuan） | 1,311,599,314.34 | 1,693,091,639.41 | -22.53% | 704,821,643.20 | | Cashflowgeneratedbybusiness
operation,net（Yuan） | 2,752,026,558.38 | 3,669,744,721.16 | -25.01% | 2,636,187,241.05 | | Basicearningpershare(Yuan/Share) | 0.61 | 0.81 | -24.69% | 0.42 | | Dilutedgainspershare(Yuan/Share) | 0.61 | 0.81 | -24.69% | 0.42 | | WeightedaverageROE(%) | 14.30% | 20.11% | -5.81% | 8.27% | | | Endof2022 | Endof2021 | Changedoverlast
year（％） | Endof2020 | | Grossassets（Yuan） | 20,267,197,153.88 | 18,875,766,799.31 | 7.37% | 19,748,578,658.11 | | Netassetsattributabletoshareholdersof
thelistedcompany（Yuan） | 9,075,877,244.12 | 8,982,437,985.17 | 1.04% | 7,933,136,499.11 |
Thelowerofthecompany’snetprofitbeforeandafterthedeductionofnon-recurringgainsandlossesinthelastthreefiscalyearsisnegative,andtheauditor'sreportofthepreviousyearshowsthattheCompany’sgoingconcernabilityisuncertain.
□Yes√No
Thelowerofthenetprofitbeforeandafterthedeductionofthenon-recurringgainsandlossesisnegative.□Yes√No
7.Thedifferencesbetweendomesticandinternationalaccountingstandards1．SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.□Applicable□√Notapplicable
None
2.DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√Notapplicable
None
8.MainFinancialIndexbyQuarters
InRMB
| | Firstquarter | Secondquarter | Thirdquarter | Fourthquarter | | Operatingincome | 1,066,130,065.73 | 991,290,743.95 | 1,230,638,061.98 | 880,575,242.32 | | Netprofitattributabletotheshareholdersofthelisted
company | 430,950,001.90 | 342,836,849.78 | 417,932,338.24 | 85,350,331.98 | | Netprofitafterdeductingofnon-recurringgain/loss
attributabletotheshareholdersoflistedcompany | 404,041,784.19 | 339,048,311.00 | 416,174,263.76 | 152,334,955.39 | | NetCashflowgeneratedbybusinessoperation | 771,364,037.16 | 672,187,229.14 | 939,303,258.72 | 369,172,033.36 |
Whethersignificantvariancesexistbetweentheabovefinancialindexortheindexwithitssumandthefinancialindexofthequarterlyreportaswellassemi-annualreportindexdisclosedbytheCompany.□Yes√No
9.Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
| Items | Amount
(2022) | Amount
(2021） | Amount(2020) | Notes | | Non-currentassetdisposalgain/loss(includingthewrite-offpartfor
whichassetsimpairmentprovisionismade) | 62,389.24 | 4,350,214.54 | -8,261,533.18 | | | Governmentsubsidiesrecognizedincurrentgainandloss(excluding
thosecloselyrelatedtotheCompany’sbusinessandgrantedunderthe
state’spolicies) | 12,414,047.87 | 16,348,006.07 | 8,359,291.82 | | | Netgainandlossofthesubsidiaryunderthecommoncontroland
producedfromenterpriseconsolidationfromthebeginningoftheperiod
totheconsolidationdate | | | 546,213,524.55 | | | Gainandlossfromchangeofthefairvaluearisingfromtransactional
monetaryassets,transactionalfinancialliabilitiesasheldaswellasthe
investmentincomearisingfromdisposalofthetransactionalmonetary
assets,transactionalfinancialliabilitiesandfinancialassetsavailablefor
saleexcludingtheeffectivehedgingtransactioninconnectionwiththe | 10,400,000.00 | | | | | Company’snormalbusiness | | | | | | Gain/lossfromexternalentrustedloan | 25,515.00 | | | | | Theimpairmentprovisionfortheadvanceexpensesthathaveoccurred
butneedtobedefinedfromthesourceoffunds | -97,749,481.71 | | | | | Netamountofnon-operatingincomeandexpenseexcepttheaforesaid
items | -1,798,078.90 | -5,840,734.56 | -1,069,827.30 | | | Othernon-recurringGains/lossitems | 14,877,866.34 | 1,252,349.09 | 974,321.89 | | | Less:Influencedamountofincometax | -5,627,816.96 | 4,027,139.54 | 2,214.32 | | | Influencedamountofminorshareholders’equity(aftertax) | -21,610,132.76 | 4,767,353.02 | 383,192,431.88 | | | Total | -34,529,792.44 | 7,315,342.58 | 163,021,131.58 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition√Applicable□ Notapplicable
DuetothespecialnatureoftheimpairmentprovisionformanagementandmaintenanceexpensesadvancedbytheGuangzhou-Foshan Expresswaytobeclarified, itwillaffectthenormaljudgmentoftheCompany'soperatingperformanceandprofitabilitybytheuserofthereport.
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.□Applicable√Notapplicable
NoneofNon-recurringgain/lossitemsrecorgnizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.III.ManagementDiscussion&Analysis
I.IndustryinformationoftheCompanyduringthereportingperiod
TheCompany'smainbusinessistheinvestment,construction,chargingandmaintenancemanagementoftollhighwaysandbridges,whichshallbeclassifiedintotheroadtransportindustry.Highwayindustryisthebasicandleadingserviceindustryofnationaleconomy,whichcanrationallyallocaterelevantresources,improvethequalityandefficiencyofeconomicoperation,andplayaleadingroleinthetransportationindustry.Asanimportantpartofthehighwayindustry,theexpresswayisanimportantnationalresource,whichischaracterizedbyhighdrivingspeed,largetrafficcapacity,lowtransportationcostandsafedriving,andplaysanimportantroleinpromotingnationaleconomicgrowth,improvingpeople'slivequalityandsafeguardingnationalsecurity.
Withthebasicpenetrationofthe"ten-verticalandten-horizontal"comprehensivetransportationcorridorandthebasiccompletionofthe"71118"nationalexpresswaynetworkplanning,China'sexpresswaynetworkhasbeencontinuouslyextended,withsignificantlyincreasedindustrydevelopment.Accordingtothestatisticaldataofthe
2021StatisticalBulletinonDevelopmentofTransportationIndustryissuedbytheMinistryofTransport,bytheendof2021,thetotalmileageofexpresswaysinChinahasreached169,100kilometers,withanincreaseof8,100kilometers,andayear-on-yearincreaseof5.03%.
DespitetherapiddevelopmentofChina'sexpresswayindustryandtheinitialscaleofexpresswaytrunklinesandnetworks,thereisstillacertaingapbetweenChinaandthedevelopedcountriesintermsofconvenienceandunobstruction.China'sexpresswayconstructionfocusedonconnectinglargecitiesabovedesignatedscaleatfirst
andhasturnedtointer-provincialconnectivityandconnectedothercitiesinrecentyears.Thereisstillalackofdirect and effective connection between some prefecture-level cities with large population and economic
aggregate and provincial capitals, as well as between prefecture-level cities. Moreover, the expressway
constructionineasternChinastartedearlierandtheroadnetworkdensityishigh,buttheroadnetworkdensityinthevastcentralandwesternregionsisstilllow.WithChina'seconomicdevelopmentsteppingintoanewnormal,thenationaleconomyisconstantlygrowing,thestrategiessuchascoordinateddevelopmentofBeijing-Tianjin-Hebei,regionalintegrationoftheYangtzeRiverDelta,developmentoftheYangtzeRiverEconomicBelt,andGuangdong-HongKong-MacaoGreaterBayAreaconstructionarefurtheradvanced,thewholesociety'sdemandforsupportingservicesofexpresswaysisexpectedtoincreasecontinuously,andChina'sexpresswayindustrystill
witnessesalargedevelopmentpotentialinthefuture.
Asanimportantinfrastructureindustryforthedevelopmentofnationaleconomy,mostoftheexpresswaytransportationdemandsarerigiddemands,whicharelessaffectedbymacroeconomicfluctuationsandlesscyclical.Astheoperatingincomeofexpresswayenterprisesismainlyincash,andthecashflowisabundant,itensuresthestabilityandsecurityofexpresswayindustryoperationandfinance.Whentheeconomyisbooming,therapidgrowthoftrafficcandrivethedevelopmentoftheindustrytoacertainextent;duringtheperiodofeconomicadjustment,theexpresswayindustrycanbetterresistthemarketimpactcausedbymacroeconomicchangeswithitsuniquerigiddemands.Therefore,theexpresswayindustryischaracterizedbystronganti-riskabilityandstableinvestmentincome.
InSeptember2022,theMinistryofTransportissuedthe"NoticeonsmoothlaunchinPhasedforReductionandExemptionofTollRoadTruckTolls".Onthebasisofcontinuingtoimplementtheexistingvarioustollreductionpolicies,thenationaltollroadswillbeunifiedfortrucks. Thefeewillbereducedbyanother10%,andthetimeframewillstartfrom00:00onOctober1,2022andendat24:00onDecember31,2022. Thispolicywillhaveacertainimpactonthetollrevenueofthecompany'sshareholdingexpresswayinthefourthquarterof2022.
II.MainBusinesstheCompanyisEngagedinDuringtheReportPeriod
TheCompany'smainbusinessindevelopingandoperatingexpresswayandbigbridges.ItisoneofthemaininstitutionsofdevelopingexpresswayandbigbridgeinGuangdongExpresswaySystem.Theexpresswayindustryistheindustryhelpedbygovernment.
TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpressway investmentintechnologicalindustriesandprovisionofrelevantconsultationwhileinvestingin
ShenzhenHuiyanExpresswayCo.,Ltd.,GuangdongJiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd.,HunanLianzhiTechnologyCo.,Ltd.,SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.,CMSTNanjingIntelligentLogisticsTechnologyCo.,Ltd.andShenzhenGarageElectricPileTechnologyCo.,Ltd.Asoftheendofthereportingperiod,thecompany’sshare-controlledexpresswayis306.78km,andtheshare-participationexpresswayis295.88km.
III.AnalysisOncoreCompetitiveness
The toll revenueofexpressway industry mainlydepends onthe regionaleconomic development. Theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume.TheGuangfoexpresswayandtheFokaiexpressway,controlledbythecompany,arepartoftheNationalExpresswayNetworkPlanning-“Fiveverticalandseven horizontal”, Jingzhu Expressway Guangzhu Section is a fast and convenient expressway, Guanghui
Expresswayisanimportantsectionofthenationalkeyhighway-the15thHengshanweitoYunnanQingshuiheHighway,Andmanyofthecompany’sequity-participationexpresswaysthatarepartofthemainskeletonoftheGuangdong Provincial Expressway Planning-“Ten vertical and five horizontal”, which provides a strong
guaranteeforstabletrafficvolume.Meanwhile,theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume,asGuangdongprovinceistheeconomicallydevelopedregion,withyears’continuoushighgrowthofGDP,sothatprovidesthestablerisingdemandforthecompany.
IV.Mainbusinessanalysis
Ⅰ.General
(1)Theoverallsituation
In 2022, the Company adhered to the guidance of Xi Jinping Thought on Socialism with ChineseCharacteristicsforaNewEra,adheredtothegeneralprincipleofseekingprogresswhilemaintainingstability,coordinatedandpromotedtheimplementationoftheCompany's"FourteenthFive-YearPlan"strategyandannual key tasks, comprehensively deepened reforms while focusing on main responsibilities and mainbusinesses, fulfilled the responsibilities of state-owned enterprises, progressed solidly in high-quality
development,andachievedastate-ownedcapitalvaluepreservationandappreciationrateof113.98%.1)Solidlycarryouttheworkrelatedtothereconstructionandexpansionoftheexpresswayproject.Successfullycompletedtheinvestmentdecision-makingprocessforthereconstructionandexpansionprojectofGuangzhou-ZhuhaiSectionofBeijing-ZhuhaiExpressway,aprovincialkeyconstructionprojectinvestedbythecompany;ContinuetofollowuptheprogressofthereconstructionandexpansionprojectsofZhongshan–JiangmenExpresswayandHuizhou-ShenzhenExpressway,andtimelyhandletheproceduresforshareholders'investmentaccordingtotheconstructionprogressoftheconstructionperiodtoensurethecapitaldemandofthereconstructionandexpansionprojects;CarryoutpreliminaryresearchonthereconstructionandexpansionprojectsofGuangzhou-ZhaoqingExpresswayandGuangzhou-HuizhouExpressway.2)Continuouslyoptimizethelayoutofstate-ownedcapital.First,efficientlycompletethe100%equitytransferofGuangdongHi-Tech,effectivelyadjustandoptimizetheCompany'sassetstructure,andcontributetotheCompany'scentralizedmainbusinessandefficientdevelopment;Second,focusonthenational"doublecarbon"strategyandinvestinnewenergy,newtechnologiesandnewplatformprojects.RelyingontheplatformofYuegaoCapital,aftertheinvestmentinLianzhiScienceandTechnologyProjectandYuetongQiyuanxinProjectwascompletedin2020and2021,in2022,addnewinvestmentinNanjingSmartLogisticsTechnologyCo.,Ltd.andShenzhenGarageElectricPileTechnologyCo.,Ltd.tosteadilypromotetheequityinvestment business of Yuegao Capital's non-expressway projects and inject new momentum into thesustainabledevelopmentofGuangdongExpressway.
3)Withthegoalofreducingcostsandincreasingefficiency,enhancethevitalityofincreasingincomeandcreatingefficiency.First,strengthenrigidconstraintstocontrolcostsandexpenses,strictlycontrolkeylinks
andkeyareasaccurately,organizeholdingsectioncompaniestostudyeffectivemeasures,andfullypromotetheimplementationoftheworkgoalof"achievingthemonthlygoalbyfulfillingten-daygoalandachievingtheseasonalgoalbyfulfillingthemonthlygoal";Second,reducecapitalcostandimproveutilizationefficiency.Reducefinancialexpensesbyrepayingloansinadvance,promotingdecreaseininterestrateofexistingloans,andactivelyrevitalizingexistingfunds;Third,makeoverallplanningandcoordinationinadvancetoguaranteefunds.Activelyseeklow-costfinancingbyopeningupfinancingchannels.4)Takemultiplemeasurestoensurestabilityandpromotebenefits.First,wellensuresmoothflow,safetyandexcellentservice.Second,effectivelyimprovetheaccuracyofinspectionescapecombat.Third,carryouttheroadguide,checkthenavigationsoftwarepath,rate,serviceareaandsiteservicefacilityinformation,mileageandcontrol,constructioninformation,etc.Fourth,strengthenthemanagementofexpresswayservicepointsandvigorouslypromotetheissuanceofETC.
(2)Participateintheholdingofthehighwaysituation
In2022,theCompany'soperatingincomedecreasedsignificantlyduetothePublichealtheventsintheprovincethatspreadatmultiplepointsandlastedforalongtime,andthe10%tollreductionfortolltrucksontollroadsinthefourthquarter.Thetrafficvolumeandtollincomeofparticipatingandholdingexpresswaysareasfollows:
| | Volumeofvehicletrafficin
2022 Tenthousandsvehicles
（ ） | Increase
/Decrease(%) | Tollincomein2022
Tenthousands
（ ） | Increase/Decrease(% | | GuangfoExpressway | 7,799.42 | -1.63% | 6,560.05 | -85.38% | | FokaiExpressway | 7,648.24 | -10.80% | 129,621.28 | -10.88% | | JingzhuExpressway
GuangzhuEastSection | 5,673.10 | -20.83% | 90,273.43 | -20.87% | | GuanghuiExpressway | 7,550.65 | -8.98% | 183,121.92 | -13.87% | | HuiyanExpressway | 4,471.36 | -13.60% | 19,950.28 | -17.00% | | GuangzhaoExpressway | 3,391.71 | -11.05% | 46,380.80 | -13.42% | | JiangzhongExpressway | 5,117.72 | -23.74% | 34,198.72 | -28.25% | | KangdaExpressway | 116.22 | -20.17% | 27,485.46 | -12.15% | | GankangExpressway | 393.98 | -14.50% | 18,879.86 | -5.15% | | GuangleExpressway | 3,758.49 | -4.28% | 289,900.12 | -13.62% |
Note. According to the informal letter No. 24-[2022] Yue Transportation Operation-"Notice of theDepartmentofTransportationofGuangdongProvinceonIssuesConcerningtheExpirationofTollCollectionofGuangfoExpressway"issuedbyGuangdongProvincialDepartmentofTransportation,GuangfoExpressway2.Revenueandcost
(1)ComponentofBusinessIncome
InRMB
| | 2022 | | 2021 | | Increase
/decrease | | | Amount | Proportion | Amount | Proportion | | | Totaloperatingrevenue | 4,168,634,113.98 | 100% | 5,288,057,677.93 | 100% | -21.17% | | Industry | | | | | | | Highwaytransportations | 4,095,766,725.59 | 98.25% | 5,170,312,170.97 | 97.77% | -20.78% | | Other | 72,867,388.39 | 1.75% | 117,745,506.96 | 2.23% | -38.11% | | Product | | | | | | | Highwaytransportations | 4,095,766,725.59 | 98.25% | 5,170,312,170.97 | 97.77% | -20.78% | | Other | 72,867,388.39 | 1.75% | 117,745,506.96 | 2.23% | -38.11% | | Area | | | | | | | GuangfoExpressway | 65,600,461.66 | 1.57% | 448,854,642.12 | 8.49% | -85.38% | | FokaiExpressway | 1,296,212,805.59 | 31.09% | 1,454,377,306.80 | 27.50% | -10.88% | | JingzhuExpresswayGuangzhuSection | 902,734,286.55 | 21.66% | 1,140,880,993.81 | 21.57% | -20.87% | | GuanghuiExpressway | 1,831,219,171.79 | 43.93% | 2,126,199,228.24 | 40.21% | -13.87% | | Other | 72,867,388.39 | 1.75% | 117,745,506.96 | 2.23% | -38.11% | | Sub-salesmodel | | | | | | | Highwaytransportations | 4,095,766,725.59 | 98.25% | 5,170,312,170.97 | 97.77% | -20.78% | | Other | 72,867,388.39 | 1.75% | 117,745,506.96 | 2.23% | -38.11% |
(2)SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%
√Applicable□Notapplicable
InRMB
| | Turnover | Operationcost | Gross
profit
rate(%) | Increase/decre
aseofrevenue
inthesame
periodofthe
previous
year(%) | Increase/decrea
seofbusiness
costoverthe
sameperiodof
previousyear
(%) | Increase/decrea
seofgross
profitrateover
thesame
periodofthe
previousyear
(%) | | Industry | | | | | | | | Highway
transportations | 4,095,766,725.59 | 1,550,367,576.44 | 62.15% | -20.78% | -17.29% | -1.60% | | Product | | | | | | | | Highway
transportations | 4,095,766,725.59 | 1,550,367,576.44 | 62.15% | -20.78% | -17.29% | -1.60% | | Area | | | | | | | | GuangfoExpressway | 65,600,461.66 | 15,920,478.79 | 75.73% | -85.38% | -89.09% | 8.25% | | FokaiExpressway | 1,296,212,805.59 | 582,933,531.68 | 55.03% | -10.88% | -18.36% | 4.13% | | JingzhuExpressway
GuangzhuSection | 902,734,286.55 | 342,515,188.62 | 62.06% | -20.87% | -7.68% | -5.42% | | GuanghuiExpressway | 1,831,219,171.79 | 608,998,377.35 | 66.74% | -13.87% | -5.36% | -3.00% | | Sub-salesmodel | | | | | | | | Highway
transportations | 4,095,766,725.59 | 1,550,367,576.44 | 62.15% | -20.78% | -17.29% | -1.60% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.
□Applicable√Notapplicable
(3)WhethertheCompany’sPhysicalSalesIncomeExceededServiceIncome□Yes√No
(4)DegreeofPerformanceoftheSignificantSalesContractSigneduptothisReportPeriod□Applicable√Notapplicable
(5)Componentofbusinesscost
Industrycategory
InRMB
| Industry
category | Items | 2022 | | 2021 | | Increase/
Decrease
(%) | | | | Amount | Proportion in the
operatingcosts(%) | Amount | Proportioninthe
operatingcosts(%) | | | Highway
transportations | Depreciation
andAmortized | 1,024,154,288.83 | 64.56% | 1,257,315,758.33 | 65.16% | -18.54% | | Highway
transportations | Outofpocket
expenses | 526,213,287.61 | 33.17% | 617,154,159.89 | 31.99% | -14.74% | | Other | Other | 35,981,459.04 | 2.27% | 55,042,107.34 | 2.85% | -34.63% |
(6)WhetherChangesOccurredinConsolidationScopeintheReportPeriod?Yes□No
During the reporting period, the Company transferred 100% equity of its wholly-owned subsidiaryGuangdongExpresswayTechnologyInvestmentCo.,Ltd.toGuangdongLitongTechnologyInvestmentCo.,Ltd.onMarch29,2022,whichwillnolongerbeincludedinthescopeofconsolidatedfinancialstatementsattheendofthisperiod.
(7)Relevant Situation ofSignificantChanges orAdjustment ofthe Business,Product orService in theCompany’sReportPeriod
□Applicable√Notapplicable
(8)SituationofMainCustomersandMainSupplier
□Applicable√Notapplicable
3.Expenses
InRMB
| | 2022 | 2021 | Increase/Decrease(%) | Notes | | Administrativeexpenses | 191,426,081.46 | 223,605,442.46 | -14.39% | | | Financialexpenses | 191,071,151.10 | 221,714,312.76 | -13.82% | | | R&Dexpenses | 14,591,773.12 | 13,270,938.73 | 9.95% | |
4.ResearchandDevelopment
√Applicable □Notapplicable
| NameofmainR&Dproject | Projectpurpose | Project
progress | Goaltobeachieved | Expectedimpactonthefuturedevelopment
oftheCompany | | Researchonthekey
technologiesofthe
constructionofanti-
collisionmonitoringand
earlywarningsystemand
thetransformationofsafety
monitoringsystemfor
Foshan-KaipingExpressway
bridgecluster | OnthebasisoffollowingtheTechnical
GuidelinesforthePilotConstructionof
StructuralHealthMonitoringSystemfor
HighwayLongSpanBridges,combinedwith
thetechnicalcharacteristicsofFoshan-Kaiping
Expresswayandtherequirementsof
informationconstructionintransportationfield
inGuangdongProvince,theexistinghealth
monitoringsystemofJiujiangBridgeon
Foshan–KaipingExpresswaywasoptimized
andupgraded,andanti-collisionmonitoring
systemswereaddedtotheotherthree
navigation-relatedsuper-largebridges. | Completed | (1)Realizethereal-timemonitoringofthe
structuralsafetymonitoringsystem,and
forewarnthebridgestructuralabnormality;
Realizethereal-timestructuraldamage
identificationofthestructure.(2)Monitorthe
trackofpassingships,sendoutsoundandlight
alarmsignalsandwarntheyawingships
throughradiostationsandAISincaseofillegal
yawingevents;Broadcastthenavigationof
shipspassingunderthebridgeandgivesafety
warningtips.(3)Effectivelypreventthe
probabilityofthebridgebeinghitbyaship
duringtheoperationperiod,extendtheservice
lifeofthebridgeandensurethesafetyofthe
bridge.(4)Implementtheanti-collision
monitoringsystemfor4bridgesofFoshan-
KaipingExpresswayandthevisuallarge-screen
displaysystemforJiujiangBridgesafety
monitoringsystem.torealizethevisual
managementofbridgefacilitiesandnavigation
safetyandimprovethemanagementlevel. | Effectivelyimprovethesafetymanagement
andcontrollevelofbridgeandculvert
structure,graduallyrealizethedigitalization
andintelligenceofworkandmanagement,
andeffectivelypromotethecorporate
governanceefficiencytoahigherlevel. | | Researchonmaintenance
andmanagementschemeof
super-largebridge | Combinedwiththemanagementand
maintenanceneedsofextra-largebridges,
realizethescientificmonitoringandprocessing
ofdataofsuper-largebridges,accurate
evaluationofbridgeservicestatus,accurate
andefficientearlywarningoffaultrisk,rapid
treatmentofdiseasedamageandscientific
decision-makingoffuturemanagementand
maintenance. | Completed | (1)Studythemechanismofdiseasecoupling,
andestablishtheprobabilitymodelofresistance
attenuationofexistingbridges.(2)Putforward
thebridgeconditionevaluationmethod,and
providereasonableandscientificsuggestions
forfuturemaintenanceandmaintenance
countermeasures.(3)Establishtheemergency
stateofbridgesandthemeasurestodealwith
specialweather,andputforwardtheregulations
onthemanagementofbridgeengineeringfiles. | FormacompletesetofintelligentO&M
technologyforsuper-longconcretebridges
withindependentintellectualpropertyrights
intheperspectiveofdiagnosis→evaluation
→treatment,whichfurtherclarifiedthekey
pointsofsuper-longbridgemanagementand
maintenance,achievedatargetedgoalin
practicalwork,effectivelyimprovedthe
managementandmaintenancelevelofthe
Company'ssuper-largebridgesandensured
structuralsafety. | | Researchonintelligent
monitoringsystemof
JiujiangBridgebasedon
BIM+GIS | Breakthetechnicalbarriersofvarious
maintenancedatabasesthroughtheexploration
andresearchofmaintenanceinformation
technologyandalgorithm,realizethe
integration,analysisandapplicationof
maintenancedata,andimprovetheefficiency
ofmaintenancemanagement. | Completed | (1)EstablishacompleteBIMdataapplication
systemsuitableforbridgeoperationstage.(2)
Throughthefusionofmulti-sourcedata,
integrateintoastandardizedandrefined
databasebackground,whichprovidesdata
supportforbridgemaintenancedecision-
makingandmedium-andlong-term
maintenanceplanning,andformamodeofjoint
managementbyoneplatformandmultiple
systems. | Thissystemintegratesthebasicinformation,
monitoringinformationandO&M
informationofbridge,establishesa
structureddatabase,andcombinesthebasic
workflowofthemanagementand
maintenanceunittodisplaythebridge
situation,riversituation,equipment
constructionsituationandequipment
workingconditioninavisualway,and
monitorthebridgesituationinrealtime,so | | NameofmainR&Dproject | Projectpurpose | Project
progress | Goaltobeachieved | Expectedimpactonthefuturedevelopment
oftheCompany | | | | | | astosignificantlyimprovethemanagement
andmaintenanceefficiencyandsavethe
managementandmaintenancecostthrough
informationmeans. | | Researchonsafety
monitoringschemeofhigh
slope | Proposeasetofslopesafetymonitoringand
earlywarningsystemwithBeidouhigh-
precisionpositioningtechnologybasedonthe
designdata,operatingenvironmentand
geologicalconditionsoftheslopealong
Foshan-KaipingExpressway,andconsidering
thedifficultiesencounteredinthedaily
managementandmaintenanceoftheslope,
realizetheintelligentmonitoringofthetarget
slopethroughtheoverallmonitoringandlong-
termanalysisoftheslopeinformation
parameters,whichprovidesdecision-making
basisforthedailymanagement,maintenance
andrepairoftheslope. | Completed | (1)BasedonBeidou,intellisense,Internetof
Things,cloudcomputing,bigdataandother
technologies,plantobuildanintegrated
InternetofThingsplatformof"cloud,
applicationandterminal"torealizeintellisense,
intelligentanalysisandthree-dimensional
visualizationofhighslopes,thetrinity,
interconnectionandfusionof"cloud,
applicationandterminal",whichrealizesthe
storage,managementandintegrationof1
millionprojectdata,andimprovesthe
processingefficiencyofhighslopeintelligent
monitoring,rapiddisasteridentification,early
warningevaluationandemergencytreatment
informationchain.(2)Realizetheout-of-limit
gradingwarningsystemofslopemonitoring,
anddiversifythereleasemethodsofwarning
informationtoensurethatwarninginformation
issenttosupervisorsinrealtime. | Theapplicationofhighslopemonitoringand
earlywarningsystembasedonBeidouhigh-
precisionpositioningtechnologyin
expresswayslopedisastermonitoringcan
greatlyreducealotoflaborinputand
managementcosts,andrealize24-hourall-
weatheronlinemonitoringandalarm,
improvethetimelinessofslopedisease
discoveryanddisposal,andensurethesafe
andstableoperationofexpressway. | | Researchonapplicationof
keytechnologiesof
pavementpreventive
maintenance | Inviewofthetechnicaldefectsofordinary
ultra-thinasphaltwearlayeratpresent,carry
outin-depthresearchfromtheaspectsof
materials,technologyanddesignconcept,and
proposeacompletesetofkeytechnologiesfor
pavementwearlayerwithdrainageandnoise
reductionofUHPPandNovaChipultra-thin
wearlayer,includingmaterialcomposition,
mixdesign,technicalindexrequirements,
constructiontechnologyandqualitycontrol
methods. | Completed | Onthebasisofthebrand-newUHPP,
NovaChipultra-thinwearlayertechnology,raw
materialformulaandtechnology,andthenew
gradingtypewithstableframeembedded
structureandhighasphaltcontent,formalarge
trafficflowsectionwhichisnoteasyto
maintain,andthenextendittothedurable
environmentalprotectionpavementwearlayer
underdifferentworkingconditionssuchasold
asphaltpavement,oldcementpavement,bridge
deck,tunnelandsteelbridgedeck,andimprove
theexistingthin-layeroverlaysysteminall
aspectsincludinganti-sliding,noisereduction,
crackresistanceanddurability. | Theresearchofthistechnologyhaspractical
significanceforimprovingtheroad
performanceandprolongingtheservicelife
ofasphaltwearlayer,andhaslong-term
significanceforreducingthemaintenance
costoftheCompany,buildinggreenand
low-carbonroadsandenvironmental
protection. | | Researchonkey
technologiesofanti-
overturningofsingle-
columnpierbridgeand
splicingofoldandnew
bridges | Byestablishingfiniteelementmodelswith
differentparametervariables,analyzethe
sensitivitybetweeneachparameterandthe
overturningstabilityofsingle-columnpier
bridge,toobtainthemainparametersaffecting
theoverturningstabilityofthestructure,and
providetheoreticalsupportforthedesignfocus
oftheanti-overturningperformanceofthe | Completed | (1)Investigateandclassifytheexistingsingle-
columnpierbridgesaccordingtotheirdifferent
overturningfailurecharacteristics,studythe
uniquetransverseoverturningprocessof
variousoverturningstructures,andobtainthe
mainparametersaffectingtheoverturning
stabilityofthestructures.(2)Carryout
comparisonanalysisontheexistingbridge | Byaccuratelyevaluatingthelateralanti-
overturningstabilityofthesingle-column
pierbridgeandmasteringthelateralanti-
overturningsafetyofthebuiltsingle-column
pierbridge,greatlyreducethemaintenance
costinthelifecycleofthebridgestoavoid
theanti-overturningaccidentofthebridges;.
Throughthereferenceschemeofanti- | | NameofmainR&Dproject | Projectpurpose | Project
progress | Goaltobeachieved | Expectedimpactonthefuturedevelopment
oftheCompany | | | bridge.Studythereasonablesplicingform
throughtheresearchanddemonstrationofthe
feasibilityofbridgesplicing,andformthe
technicalsolutionoflarge-flowexpressway
splicing. | | structurescombinedwiththelateralanti-
overturningevaluationstandard,andformthe
existingsingle-columnpierbridge
reinforcementdesigngallery.(3)Investigatethe
diseasesoflongitudinalsplicingofexisting
bridges,studythediseasemechanismof
longitudinalsplicingtechnologyfordifferent
bridgestructures,andformthekeytechnology
oflongitudinalsplicingmaintenanceofexisting
bridgestructures. | overturningreinforcementdesignofold
bridges,optimizetheanti-overturningdesign
ofoldbridges,reducethereinforcementcost,
andimprovetheuseefficiencyoffunds;
Formthekeytechnologyoflongitudinal
splicingmaintenanceofexistingbridge
structures,whichcanprovidereliable
referenceforexpresswayreconstructionand
expansiondesign,andalsoprovidetechnical
supportforsubsequentmaintenanceand
repair,ensuringthesafetyofbridges,which
isofgreatsignificanceforensuringtraffic
safety. | | Researchonmonitoringand
alarmsystemforcollision
withbridgebyshipofover-
height | BothHuzhouBridgeandYayaoBridgehave
thepossibilityofshipsofover-heightcolliding
withthebridge,soitisnecessarytocarryout
theresearchonthealarmtechnologyfor
collisionwithbridgebyshipofover-height,
monitortheheightofoftheshippassingunder
thebridgebyhigh-techmeans,sendoutalarm
signalstowarntheshipsofover-heightincase
ofillegalover-heightevents,andautomatically
shootvideosandsendthemtothemonitoring
centerofthemanagementdepartmentfor
evidencecollection,soastotakefurther
managementmeasures.Theresearchofthis
projectisofgreatsignificanceforprotecting
thestructuralsafetyofthebridgeonthe
waterwayandimprovingthemanagementlevel
ofthebridgeandwaterway. | Completed | Theshipover-heightdetectionsystemisto
improvethesafetyofwaterwayoperationby
usingmoderndetectionmeans,andreducethe
damagetoriver-crossingbridgesandauxiliary
facilitiescausedbyshipsofover-heightdriving
intonavigablespan.Thesystemcanaccurately
detecttheshipover-height,guidetheshipof
over-heighttoavoidsafely,andtakewarning
shotsonthespottimely,whichisconduciveto
improvingthepassingefficiency,eliminating
hiddendangers,facilitatingmanagementand
escortingthenavigation.Therelevantmaritime
departmentsandtransportationdepartmentspay
moreandmoreattentiontotheresearchon
collisionwithbridgebyshipofover-heightand
over-heightalarmandearlywarningwhile
formulatingthemanagementsystemofbridge
areawaters. | Theinstallationandapplicationofthesystem
hasagoodearlywarningfunctionforthe
collisionavoidanceofnavigablebridges,
whichcantimelyobservethesituationonthe
spotandeffectivelyimprovethelevelof
bridgemanagementandmaintenance. |
Company'sresearchanddevelopmentpersonnelsituation（未完）
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