GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
TheSemi-AnnualReport2024
August2024
I.ImportantNotice,TableofContentsandDefinitionsTheBoardofDirectors,theSupervisoryCommitteeaswellasalldirectors,supervisorsandseniormanagementstaffoftheCompanywarrantthatthisReportisfactual,accurateandcompletewithoutanyfalserecord,misleadingstatementormaterialomission.Andtheyshallbejointlyandseverallyliableforthat.Mr.MiaoDeshan,Companyprincipal,Mr.LuMing,Chiefoftheaccountingwork,Ms.YanXiaohong,Chiefoftheaccountingorgan(chiefofaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthisSemi-annualreport.Allthedirectorshaveattendedthemeetingoftheboardmeetingatwhichthisreportwasexamined.ThetollrevenuesofExpresswayismainsourceofthemajorbusinessincomeofthecompany,Thechargestandardofvehicletollmustbesubmittedtothesamelevelpeople'sgovernmentforreviewandapprovalafterthetransportregulatorydepartmentofprovince,autonomousregionormunicipalitydirectlyunderthecentralgovernmentinconjunctionwiththepriceregulatorydepartmentatthesamelevelconsenteduponexamination.Therefore,theadjustmenttrendofthechargepriceandthechargepriceifhasthecorrespondingadjustmentinthefuturepricelevelwhenthecostofthecompanyrisesstilldependontheapprovalofrelevantnationalpoliciesandgovernmentdepartments,andthecompanyisn'tabletomaketimelyadjustmenttothechargestandardinaccordancewiththeitsownoperationcostorthechangeofmarketsupplydemand.So,thechangeofchargepolicyandtheadjustmentofchargestandardalsohaveinfluenceontheexpresswaysoperatedbythecompanytosomeextent.So,thechargingpolicychangesandchargesadjustmentwillaffectthehighwaysoperationofthecompany.TheCompanyhasnoplanofcashdividendscarriedout,bonusissuedandcapitalizingofcommonreserveseither.
TableofContents
I.ImportantNotice,TableofcontentsandDefinitionsII.CompanyProfile&FinancialHighlights.III.ManagementDiscussion&AnalysisIV.CorporateGovernanceV.Environmental&SocialResponsibilityVI.ImportantEventsVII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVIII.SituationofthePreferredSharesIX.CorporateBondX.FinancialReport
Documentsavailableforinspection
1.Accountingstatementscarriedwithpersonalsignaturesandsealsoflegalrepresentative,ChiefFinancialofficerandFinancialPrincipal.
2..ThetextsofalltheCompany'sdocumentspubliclydisclosedonthenewspapersandperiodicalsdesignatedbyChinaSecuritiesRegulatoryCommissioninthereportperiod.
Definition
| Termstobedefined | Refersto | Definition |
| Reportingperiod,Thisyear | Refersto | January1,2024toJune30,2024 |
| Reportingdate | Refersto | Thesemi-annualreportofthecompanywasapprovedbytheboardofdirectorsof2024,thatis,August29,2024 |
| YOY | Refersto | ComparedwithJanuary-June2023 |
| TheCompany,ThisCompany,TheGroup,GuangdongExpressway | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd. |
| ProvincialFreeway | Refersto | GuangdongProvincialFreewayCo.,Ltd. |
| GuangfoCompany | Refersto | GuangdongGuangfoExpresswayCo.,Ltd. |
| GuanghuiCompany | Refersto | GuangdongGuanghuiExpresswayCo.,Ltd. |
| GuangzhuEastCompany | Refersto | JiangzhuExpresswayGuangzhuSectionCo.,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 | ||
| AbbreviationofRegisteredCompany(ifany) | 粤高速 | ||
| Englishname(Ifany) | GuangdongProvincialExpresswayDevelopmentCo.Ltd. | ||
| Englishabbreviation(Ifany) | GPED | ||
| LegalRepresentative | MiaoDeshan | ||
2.Contactpersonandcontactmanner
| Boardsecretary | SecuritiesaffairsRepresentative | |
| Name | YangHanming | LiangJirong |
| Contactaddress | 46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDistrict,Guangzhou | 45/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDistrict,Guangzhou |
| Tel | 020-29004619 | 020-29004523 |
| Fax | 020-38787002 | 020-38787002 |
| Hmy69@126.com | 139221590@qq.com |
3.Other
1).WayofcontactWhetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√NotapplicableRegistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhasnochangeinreportingperiod,foundmoredetailsinannualreport2023.
2).InformationinquiryWhetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√NotapplicableNoneoftheofficialpresses,website,andplaceofenquiryhasbeenchangedinthesemireportperiod.FordetailspleasefindtheAnnualReport2023.
3).OtherrelevantinformationDidanychangeoccurtootherrelevantinformationduringthereportingperiod?
□Applicable√Notapplicable
4.SummaryofAccountingDataandFinancialIndicatorsWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata
□Yes√No
| Reportingperiod | Sameperiodoflastyear | YoY+/-（%） | |
| Operatingincome（yuan） | 2,230,865,662.20 | 2,340,436,775.08 | -4.68% |
| Netprofitattributabletotheshareholdersofthelistedcompany（yuan） | 855,465,441.00 | 885,644,187.99 | -3.41% |
| Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany（yuan） | 883,859,403.20 | 913,683,625.12 | -3.26% |
| Cashflowgeneratedbybusinessoperation,net（yuan） | 1,603,256,009.68 | 2,013,917,191.70 | -20.39% |
| Basicearningpershare(yuan/Share) | 0.41 | 0.42 | -2.38% |
| Dilutedgainspershare(yuan/Share) | 0.41 | 0.42 | -2.38% |
| Weightedaverageincome/assetratio（%） | 8.45% | 9.30% | -0.85% |
| Asattheendofthereportingperiod | Asattheendoflastyear | YoY+/-（%） | |
| Grossassets（yuan） | 22,379,416,869.63 | 21,368,963,167.41 | 4.73% |
| Shareholders’equityattributabletoshareholdersofthelistedcompany（yuan） | 9,640,941,824.71 | 9,847,531,855.89 | -2.10% |
5.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
1).SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√NotapplicableNone
2).DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√NotapplicableNone
6.Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
| Items | Amount | Note |
| Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade) | 31,986.81 | |
| Governmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 5,419,793.60 | |
| Capitaloccupationchargesonnon-financialenterprisesthatarerecordedintocurrentgainsandlosses | 690,943.99 | |
| Theimpairmentprovisionfortheadvanceexpensesthathaveoccurredbutneedtobedefinedfromthesourceoffunds | -43,453,436.90 | |
| Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | 1,163,702.75 | |
| Othernon-recurringGains/lossitems | 197,734.86 | |
| Less:Influencedamountofincometax | 1,876,040.52 |
| Items | Amount | Note |
| Influencedamountofminorshareholders’equity(aftertax) | -9,431,353.21 | |
| Total | -28,393,962.20 |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
√Applicable□NotapplicableDuetothespecialnatureoftheimpairmentprovisionformanagementandmaintenanceexpensesadvancedbytheGuangzhou-FoshanExpresswaytobeclarified,itwillaffectthenormaljudgmentoftheCompany'soperatingperformanceandprofitabilitybytheuserofthereport.FortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√NotapplicableNoneofNon-recurringgain/lossitemsrecorgnizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.
III.ManagementDiscussion&Analysis
1.MainBusinesstheCompanyisEngagedinDuringtheReportPeriodTheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultationwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangdongJiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuepuTechnologyPettyLoanCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd.,HunanLianzhiTechnologyCo.,Ltd.andSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd..Asoftheendofthereportingperiod,thecompany’sshare-controlledexpresswayis306.78km,andtheshare-participationexpresswayis295.88km.
2.AnalysisOncoreCompetitivenessThetollrevenueofexpresswayindustrymainlydependsontheregionaleconomicdevelopment.Theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume.TheGuangfoexpresswayandtheFokaiexpressway,controlledbythecompany,arepartoftheNationalExpresswayNetworkPlanning-“Fiveverticalandsevenhorizontal”,JingzhuExpresswayGuangzhuSectionisafastandconvenientexpressway,GuanghuiExpresswayisanimportantsectionofthenationalkeyhighway-the15thHengshanweitoYunnanQingshuihehighway,Andmanyofthecompany’sequity-participationexpresswaysthatarepartofthemainskeletonoftheGuangdongProvincialExpresswayPlanning-“Tenverticalandfivehorizontal”,whichprovidesastrongguaranteeforstabletrafficvolume.Meanwhile,theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume,asGuangdongprovinceistheeconomicallydevelopedregion,withyears’continuoushighgrowthofGDP,sothatprovidesthestablerisingdemandforthecompany.
3.MainbusinessanalysisDuringthereportingperiod,thetrafficvolumeandtollincomeoftheexpresswayprojectinwhichtheCompanyparticipatedintheshare-holding:
| Volumeofvehicletrafficinthefirsthalfyearof2024 | Tollincomeinthefirsthalfyearof2023 | Tollincomeinthefirsthalfyearof20234（Tenthousandyuan） | Increase/Decrease(%） | |
| GuangfoExpressway | 4,793.92 | 4.49% | 0 | 0.00% |
| FokaiExpressway | 4,580.26 | 4.31% | 74,346.47 | 1.25% |
| JingzhuExpresswayGuangzhuEastSection | 3,724.83 | 5.80% | 56,919.34 | 1.93% |
| GuanghuiExpressway | 4,155.26 | -4.85% | 89,160.51 | -12.40% |
| HuiyanExpressway | 2,240.37 | -12.30% | 9,652.18 | -9.46% |
| GuangzhaoExpressway | 2,084.77 | 1.86% | 26,430.84 | 0.36% |
| JiangzhongExpressway | 2,930.92 | 17.16% | 18,103.12 | 14.48% |
| KangdaExpressway | 74.14 | -2.45% | 14,754.61 | 1.87% |
| GangkangExpressway | 240.16 | -5.85% | 10,622.59 | -9.16% |
| GuangleExpressway | 1,943.81 | -1.95% | 149,323.42 | -2.82% |
(1)GuanghuiExpressway,duetotheopeningoftheGuangshanhigh-speedrailwayparalleltotheGuanghuiExpressway,aswellasthesuccessiveopeningofthethirdphaseoftheHuilongExpresswayandtheGuanfanExpressway(acomponentoftheGuanglongExpressway)andthechangesinthesurroundingroadnetwork,ithadacertaindiversionimpacttothetrafficflowoftheGuanghuiExpressway.
(2)HuiyanExpressway,duetotheneedsofthereconstructionandexpansionprojectofHuiyanExpressway,therampreconstructionofLonggangStationbeganinMarch,andtheentranceandexitofLonggangStationwerefullyclosedinApril;Someofthereconstructionandexpansionsectionswerelimitedbyterrainconditions,whichaffectedthetrafficcapacity.
(3)GankangExpressway,theearlycompletionandopeningoftheJikangsectionoftheDaguangExpresswayandtheconstructionoftheexpresswaynetworkaroundthecentralurbanareaofGanzhouwerethemainfactorsfortheYOYdecreaseintrafficflowandtollrevenueoftheGankangExpressway.Year-on-yearchangeofmainfinancialdata
InRMB
| Thisreportperiod | Sameperiodlastyear | YOYchange（%） | Causechange | |
| Operatingincome | 2,230,865,662.20 | 2,340,436,775.08 | -4.68% | |
| Operatingcost | 713,009,009.42 | 740,670,310.49 | -3.73% | |
| Administrativeexpenses | 82,947,690.68 | 80,023,845.71 | 3.65% | |
| Financialexpenses | 53,811,381.24 | 91,153,090.47 | -40.97% | Mainlyduetothecombinedeffectofthedecreaseininterestexpenseduetothematurityofmedium-termnotes,thedeclineinborrowingprincipalandinterestrates,andtheincreaseininterestincomeondeposits. |
| Incometaxexpenses | 349,883,636.23 | 369,040,383.81 | -5.19% | |
| R&DInvestment | 81,651.82 | -100.00% | ||
| Cashflowgeneratedbybusinessoperation,net | 1,603,256,009.68 | 2,013,917,191.70 | -20.39% | ThemainfactorsarethecomprehensiveimpactoftheGuangzhuEastCompanyreceivingsubsidiesfortheconstructionoftheQijiangNewCitySouthInterchangeinthesameperiodofthepreviousyear,aswellastheyear-on-yeardecreaseintollrevenue. |
| Netcashflowgeneratedbyinvestment | -1,020,320,728.55 | -634,590,288.73 | -60.78% | TheinvestmentandconstructionexpenditureforthereconstructionandexpansionoftheNansha-ZhuhaisectionoftheGuangaoExpresswayincreased |
| Netcashflowgeneratedbyfinancing | -329,221,334.87 | -389,241,866.55 | 15.42% | |
| Netincreasingofcashandcashequivalents | 253,713,946.26 | 990,085,036.42 | -74.37% |
MajorchangestotheprofitstructureorsourcesoftheCompanyinthereportingperiod
□Applicable√Notapplicable
ComponentofBusinessIncome
InRMB
| Thisreportperiod | Sameperiodlastyear | Increase/decrease | |||
| Amount | Proportion | Amount | Proportion | ||
| Totaloperatingrevenue | 2,230,865,662.20 | 100% | 2,340,436,775.08 | 100% | -4.68% |
| OnIndustry | |||||
| Highwaytransportations | 2,204,260,409.98 | 98.81% | 2,310,707,369.57 | 98.73% | -4.61% |
| Other | 26,605,252.22 | 1.19% | 29,729,405.51 | 1.27% | -10.51% |
| OnProduct | |||||
| Highwaytransportations | 2,204,260,409.98 | 98.81% | 2,310,707,369.57 | 98.73% | -4.61% |
| Other | 26,605,252.22 | 1.19% | 29,729,405.51 | 1.27% | -10.51% |
| OnArea | |||||
| FokaiExpressway | 743,464,662.48 | 33.33% | 734,319,820.33 | 31.38% | 1.25% |
| JingzhuExpresswayGuangzhuSection | 569,193,427.20 | 25.51% | 558,390,597.95 | 23.86% | 1.93% |
| GuanghuiExpressway | 891,605,070.85 | 39.97% | 1,017,838,852.76 | 43.49% | -12.40% |
| Other | 26,602,501.67 | 1.19% | 29,887,504.04 | 1.27% | -10.99% |
SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%
√Applicable□Notapplicable
InRMB
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.
□Applicable√Notapplicable
| Turnover | Operationcost | Grossprofitrate(%) | Increase/decreaseofrevenueinthesameperiodofthepreviousyear(%) | Increase/decreaseofbusinesscostoverthesameperiodofpreviousyear(%) | Increase/decreaseofgrossprofitrateoverthesameperiodofthepreviousyear(%) | |
| OnIndustry | ||||||
| Highwaytransportations | 2,204,260,409.98 | 699,856,213.37 | 68.25% | -4.61% | -3.64% | -0.32% |
| OnIndustry | ||||||
| Highwaytransportations | 2,204,260,409.98 | 699,856,213.37 | 68.25% | -4.61% | -3.64% | -0.32% |
| OnArea | ||||||
| FokaiExpressway | 743,464,662.48 | 250,395,386.38 | 66.32% | 1.25% | 3.77% | -0.82% |
| JingzhuExpresswayGuangzhuSection | 569,193,427.20 | 161,740,069.52 | 71.58% | 1.93% | 0.40% | 0.43% |
| GuanghuiExpressway | 891,605,070.85 | 287,757,548.21 | 67.73% | -12.40% | -11.20% | -0.43% |
4.Non-corebusinessanalysis
√Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Note | Whetherbesustainable | |
| InvestmentIncome | 153,501,177.19 | 10.32% | Itisduetotheoperationaccumulationofparticipantcompanies | Yes |
| Impairmentofasset | -44,875,103.57 | -3.02% | MainlyduetothatGuangfoCompanyhasfullymadeanimpairmentprovisionforthesubstitutepaymentofmanagementandmaintenanceexpenses. | No |
| Non-operatingincome | 2,970,858.52 | 0.20% | Mainlyinsuranceclaimsandroadpropertyclaims | No |
| Non-operatingexpenses | 1,775,168.96 | 0.12% | It’smainlytheexpenditureonroadrepair | No |
5.ConditionofAssetandLiabilities
(1)ConditionofAssetCausingSignificantChange
InRMB
| EndofReportingperiod | Endofsameperiodoflastyear | Changeinpercentage(%) | Reasonforsignificantchange | |||
| Amount | Asapercentageoftotalassets(%) | Amount | Asapercentageoftotalassets(%) | |||
| Monetaryfund | 4,978,196,775.29 | 22.24% | 4,718,631,732.20 | 22.08% | 0.16% | |
| Accountsreceivable | 131,823,489.75 | 0.59% | 139,899,420.24 | 0.65% | -0.06% | |
| Investmentrealestate | 2,336,467.21 | 0.01% | 2,447,026.45 | 0.01% | 0.00% | |
| Long-termequityinvestment | 3,294,938,555.27 | 14.72% | 3,095,578,288.00 | 14.49% | 0.23% | |
| Fixedassets | 8,497,540,533.10 | 37.97% | 9,010,168,712.92 | 42.16% | -4.19% | |
| Constructioninprocess | 2,511,732,378.97 | 11.22% | 1,960,092,562.22 | 9.17% | 2.05% | |
| Userightassets | 19,592,513.91 | 0.09% | 24,967,509.81 | 0.12% | -0.03% | |
| Shore-termloans | 290,205,416.67 | 1.30% | 110,085,708.33 | 0.52% | 0.78% | |
| Long-termborrowing | 6,435,971,150.00 | 28.76% | 5,944,716,050.00 | 27.82% | 0.94% | |
| Leaseliabilities | 8,218,005.37 | 0.04% | 13,482,202.97 | 0.06% | -0.02% | |
(2)Mainassetsoverseas
□Applicable√Notapplicable
(3)AssetandLiabilitiesMeasuredbyFairValue
√Applicable□Notapplicable
InRMB
| Items | Openingamount | Gain/Lossonfairvaluechangeinthereportingperiod | Cumulativefairvaluechangerecordedintoequity | Impairmentprovisionsinthereportingperiod | Purchasedamountinthereportingperiod | Soldamountinthereportingperiod | Otherchange | Closingamount |
| Financialassets | ||||||||
| 1.Tradingfinancialassets(excludingderivativefinancialassets | 183,856,768.00 | 183,856,768.00 | ||||||
| 4.Otherequityinstrumentinvestment | 1,534,396,887.63 | 304,873,933.81 | 1,620,783,112.34 | |||||
| Subtotal | 1,718,253,655.63 | 304,873,933.81 | 1,804,639,880.34 | |||||
| Totaloftheabove | 1,718,253,655.63 | 304,873,933.81 | 1,804,639,880.34 | |||||
| Financialliabilities | 0.00 | 0.00 |
DidanysignificantchangeoccurtotheattributeoftheCompany’smainassetmeasurementduringthereportingperiod?
□Yes√No
(4)AssetsrightrestrictiontillendofreportingperiodThebalanceofrestrictedbankdepositsattheendoftheperiodwasRMB1,221,200.00,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofsanbaotoshuikousectionofFokaiExpressway.
6.Investmentsituation
(1)General
√Applicable□Notapplicable
| CurrentInvestmentAmount(Yuan) | Sameperiodoflastyear(Yuan) | Changerate |
| 740,451,816.75 | 592,619,036.60 | 24.95% |
(2)ConditionofAcquiringSignificantShareRightInvestmentduringtheReportPeriod?Applicable□Notapplicable
InRMB
| NameoftheCompanyInvested | MainBusiness | InvestmentWay | InvestmentAmount | ShareProportion% | CapitalSource | Partner | InvestmentHorizon | ProductType | ProgressuptoBalanceSheetDate | AnticipatedIncome | GainorLessortheCurrentInvestment | WhethertoInvolveinLawsuit | DateofDisclosure | DisclosureIndex |
| GuangdongJiangzhongExpresswayCo.,Ltd. | Expressway | Increasecapital | 31,500,000.00 | 15.00% | Selffunds | Xinyue(Guangzhou)InvestmentCo.,Ltd.,GuangdongHighwayConstructionCo.,Ltd. | Onthebasisofthetermofoperationapprovedbythegovernment | Expressway | Completed | No | July31,2021 | Resolutionsofthe20th(Provisional)MeetingoftheNinthBoardofDirectors | ||
| ZhaoqingYuezhaoHigywayCo.,Ltd. | Expressway | Increasecapital | 142,000,000.00 | 25.00% | Selffunds | GuangdongRoad&BridgeConstructionDevelopmentCo.,Ltd.,ZhaoqingHighwayDevelopmentCo.,Ltd.,XunhaoInternationalCo.,Ltd. | Onthebasisofthetermofoperationapprovedbythegovernment | Expressway | Completed | No | October21,2023 | Resolutionsofthe13th(Provisional)MeetingoftheTenthBoardofDirectors | ||
| Total | -- | -- | 173,500,000.00 | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | -- | -- | -- |
(3).SituationoftheSignificantNon-equityInvestmentUndergoingintheReportPeriod?Applicable□Notapplicable
InRMB
| Projectname | Investmentmethod | Fixedinvestmentsornot | Industryinvolvedininvestmentprojects | Investmentamountinthisreportingperiod | AccruedActualInvestmentAmountuptotheEndofReportingPeriod | CapitalSource | Projectschedule | Anticipatedincome | AccruedRealizedIncomeuptotheEndofReportingPeriod | ReasonsfornotReachingthePlannedScheduleandAnticipatedIncome | Disclosuredate | DisclosureIndex |
| Nansha-ZhuhaiSectionofGuangzhou-MacaoExpresswayWasrebuiltandExpanded | Self-built | Yes | Expressway | 476,407,516.16 | 2,124,802,034.64 | SelfandLoan | 15.47% | N/A | October22,2022 | AnnouncementofResolutionoftheSecond(Provisional)MeetingtheTenthBoardofDirectors；AnnouncementofExternalInvestment | ||
| Total | -- | -- | -- | 476,407,516.16 | 2,124,802,034.64 | -- | -- | -- | -- | -- |
(4)InvestmentofFinancialAsset1）Securitiesinvestment
√Applicable□Notapplicable
InRMB
| Securitycategory | Securitycode | StockAbbreviation: | Initialinvestmentcost | Modeofaccountingmeasurement | Bookvaluebalanceatthebeginningofthereportingperiod | Changesinfairvalueofthethisperiod | Cumulativefairvaluechangesinequity | Purchaseamountinthethisperiod | Saleamountinthethisperiod | Gain/lossofthereportingperiod | Bookvaluebalanceattheendofthereportingperiod | Accountingitems | Sourcesoffunds |
| Domesticandforeignstocks | 601818 | EverbrightBank | 517,560,876.80 | FVM | 682,239,337.60 | 0.00 | 228,197,295.68 | 0.00 | 0.00 | 40,699,105.31 | 0.00 | Otherequityinstrumentinvestments | Self |
| Total | 517,560,876.80 | -- | 682,239,337.60 | 0.00 | 228,197,295.68 | 0.00 | 0.00 | 40,699,105.31 | 0.00 | -- | -- | ||
| DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheBoardofDirectors | July22,2009 | ||||||||||||
| DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheShareholdersMeeting(Ifany) | August7,2009 | ||||||||||||
2）InvestmentinDerivatives
□Applicable√NotapplicableTheCompanyhadnoinvestmentinderivativesinthereportingperiod.
(5)Applicationoftheraisedcapital
□Applicable√NotapplicableTheCompanyhadnoapplicationoftheraisedcapitalinthereportingperiod.
7.Salesofmajorassetsandequity
(1)Salesofmajorassets
□Applicable√NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
(2)Salesofmajorequity
□Applicable√Notapplicable
8.AnalysisoftheMainShareHoldingCompaniesandShareParticipatingCompanies
√Applicable□NotapplicableSituationofMainSubsidiariesandtheJoint-stockCompanywithover10%netprofitinfluencingtotheCompany
InRMB
| CompanyName | Companytype | Leadingproductsandservices | Registeredcapital | Totalassets | Netassets | OperatingIncome | Operatingprofit | NetProfit |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | Subsidiary | TheoperationandmanagementofGuangzhuExpressway | 2.8557billionyuan | 4,776,417,728.06 | 2,010,611,297.87 | 585,937,746.82 | 390,128,845.08 | 292,327,454.95 |
| GuangdongGuanghuiExpresswayCo.,Ltd. | Subsidiary | InvestmentinandconstructionofGuanghuiExpresswayCo.,Ltd.andsupportingfacilities,thetollcollectionandmaintenancemanagementofGuanghuiExpressway,TheGuanghuiExpressway'ssupportinggasstation,salvation,vehiclemaintenance,vehicletransport,catering,warehousinginvestmentanddevelopment | 2.351678billionyuan | 4,524,440,822.20 | 4,230,599,238.01 | 897,321,456.20 | 602,674,693.98 | 447,482,942.51 |
Subsidiariesobtainedordisposedinthereportingperiod
□Applicable√NotapplicableParticularsabouttheMutualholdingcompanies
9．StructuredvehiclecontrolledbytheCompany
□Applicable√Notapplicable
10.RisksfacingtheCompanyandcountermeasuresThecompany’sprofitsmainlycomefromtheexpresswaytollsrevenueandthetollchargingstandardsshallbeexaminedbythetrafficauthorityoftheprovincial,autonomousregionandthedirect-controlledmunicipalitypeople’sgovernmentstogetherwiththesame-levelpricingauthorityandthensubmittedtothesame-levelpeople’sgovernmentforapproval.Therefore,thechargingpriceadjustmenttrendandthepossibilityofthechargingpriceadjustmentuponrisingofthecommoditypriceandthecompanycostinthefuturearestillsubjecttorelevantnationalpoliciesandtheapprovalofthegovernmentaldepartment.Andthecompanycan’tadjustthechargingstandardspromptlybasedonitsownoperationcostorthemarketsupply-demandchanges.Inconclusion,thechargingpolicieschangeandthechargingstandardsadjustmenthavetheinfluenceontheexpresswaybusinessofthecompanytosomeextent.
11.Theimplementationoftheactionplanof"Doubleimprovementofqualityandreturn".WhethertheCompanyhasdisclosedtheactionplanof"Doubleimprovementofqualityandreturn".?Yes?NoThecompanydisclosedanannouncementregardingthe"QualityandReturnDualImprovement"actionplanonAugust28,2024(AnnouncementNo.[2024-020]),andhasformulatedthe"QualityandReturnDualImprovement"actionplan.Forspecificcontent,pleaserefertothecompany'sannouncements.
IV.CorporateGovernance
1.AnnualGeneralMeetingandProvisionalShareholders’MeetingsintheReportingPeriod
(1)AnnualGeneralMeeting
| Meeting | Type | Investorparticipationratio | Conveneddate | Disclosuredate | Indextodisclosedinformation |
| 2023Shareholders’generalmeeting | AnnualShareholders’GeneralMeeting | 65.10% | May20,2024 | May21,2024 | ThemeetingexaminedandadoptedtheProposalConcerningFinalAccountingReportfor2023.ThemeetingexaminedandadoptedtheProposalConcerningPreplanforProfitDistributionfor2023.ThemeetingexaminedandadoptedtheProposalConcerningOverallbudgetreportoftheCompanyfor2024.ThemeetingexaminedandadoptedtheWorkReportoftheBoardofDirectorsfor2023.ThemeetingexaminedandadoptedtheWorkReportofthesupervisoryCommitteefor2023.ThemeetingexaminedandadoptedAnnualReportfor2023anditssummary.ThemeetingexaminedandadoptedtheProposalforHiringthe2024AnnualFinancialReportAuditAgency.ThemeetingexaminedandadoptedtheProposalforHiringthe2024InternalControlAuditInstitution.ThemeetingexaminedandadoptedtheProposalonthePreparationoftheShareholderReturnPlanofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.fortheNextThreeYears(2024-2026).ThemeetingexaminedandadoptedtheProposalontheInvestmentPlanfor2024,ThemeetingexaminedandadoptedtheProposalontheelectionofMr.WuGuijunasadirectorofthe10thboardofdirectorsoftheCompany. |
(2)PreferredshareholderswiththerestorationofvotingrightsmadearequestfortheSpecialMeetingofShareholders
□Applicable√Notapplicable
2.Changeinsharesheldbydirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
| Name | Positions | Types | Date | Reason |
| KeLin | Supervisor | Dimissio | March16,2024 | Retire |
| YouXiaocong | Director | Dimission | March16,2024 | Jobchanges |
| WangChunhua | Director,GeneralManager | Dimission | April8,2024 | Retire |
| WuGuijun | Director | Elected | May20,2024 | Elected |
3.Pre-planforprofitallocationandturningcapitalreserveintosharecapitalforthereportingperiod
□Applicable√NotapplicableTheCompanyplannednottodistributecashdividendandbonusshare,andnottoconvertcapitalreservesintosharecapitalinhalfyear.
4.Implementationofthecompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√NotapplicableTheCompanyhasnoimplementationofthecompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentivesintheperiod.
V.Environmental&SocialResponsibility
1.SignificantenvironmentalissuesWhethertheCompanyoranyofitssubsidiariesisidentifiedasakeypolluterbytheenvironmentauthorities
□Yes√NoAdministrativepenaltiesforenvironmentalproblemsduringthereportingperiod
None
Refertootherenvironmentalinformationdisclosedbykeypollutantdischargeunits
NoneMeasuresandeffectstakentoreduceitscarbonemissionsduringthereportingperiod
□Applicable√NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNone
2.SocialresponsibilitiesInthefirsthalfof2024,theCompanyadheredtotheessenceoftheenterprise,deepenedcorporategovernance,andactivelyfulfilledtheresponsibilityofstate-ownedenterpriseswhilepromotingthehigh-qualitydevelopmentofenterprises.Inthefirsthalfoftheyear,theCompanyactivelyrespondedtogovernmentpolicies,providedpreferentialexemptionsandreductionsinaccordancewithlawsandregulations,andreducedthetransportationcostsofenterprisesandthemasstravelcosts;TheCompanycontinuestoimplementthetollexemptionpolicyforpassengercarswithlessthansevenseatsonhighwaysinmajorholidays,andimplementtheintermittentfreereleaseandpreferentialpoliciesforgreenchannels,thustoeffectivelyachieve"recognitioninplace,personnelinplace,responsibilityinplace,andmeasuresinplace",andsuccessfullycompletevariousworktoensuresafety,smoothflowandexcellentservice.
VI.ImportantEvents
1.Thefulfilledcommitmentsinthereportingperiodandunder-fulfillmentcommitmentsbytheendofthereportingperiodmadebythecompany,shareholder,actualcontroller,acquirer,director,supervisor,seniormanagementpersonnelandotherrelatedparities.
√Applicable□Notapplicable
| Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
| Commitmentmadeduringtheassetreorganization | GuangdongProvincialFreewayCo.,Ltd. | Performancecommitment | Theproposalonchangeofperformancecommitmentofthemajorassetrestructuringprojectin2020andsigningthesupplementaryagreementtotheprofitcompensationagreementwasreviewedinapprovedintheCompany'sfirstextraordinarygeneralmeetingofshareholdersin2023,agreedtochangetheperformancecommitmentofthemajorassetrestructuringprojectin2020,andagreedtheCompanytosignthe"SupplementaryAgreementtotheProfitCompensationAgreement"withtheProvincialExpressway.Theperformancecompensationperiodfortheassetrestructuringwasadjustedto2020,2021,and2023.TheprovincialexpresswaypromisedthatthenetprofitaccumulatedbyGuanghuiExpresswayin2020,2021and2023afterdeductingnon-recurringprofitsandlosseswillnotbelessthan2,999,265,700yuan. | August23,2023 | 2020,2021and2023 | Completed |
| Completedontime(Y/N) | Yes | |||||
2.Particularsaboutthenon-operatingoccupationoffundsbythecontrollingshareholder
□Applicable√NotapplicableNonon-operationalfundoccupationfromcontrollingshareholdersanditsrelatedpartyinperiod.
3.Externalguaranteeoutoftheregulations
□Applicable√NotapplicableNoexternalguaranteeoutoftheregulationsoccurredintheperiod.
4.Appointmentandnon-reappointment(dismissal)ofCPAWhetherthesemi-annualfinancialreporthadbeenaudited
□Yes√NoThesemi-annualreportwasnotaudited
5.Explanationon“nonQualifiedOpinion”fromCPAbytheBoardandSupervisoryCommittee
□Applicable√Notapplicable
6.ExplanationfromtheBoardfor“nonQualifiedOpinion”oflastyear’s
□Applicable√Notapplicable
7.Bankruptcyreorganization
□Applicable√NotapplicableNobankruptcyreorganizationfortheCompanyinreportingperiod
8.LitigationsandarbitrationsSignificantlitigationsandarbitrations
□Applicable√NotapplicableNosuchcasesinthereportingperiod.Otherlawsuits
□Applicable√Notapplicable
9.Penaltyandrectification
□Applicable√NotapplicableDuringthereportingperiod,theCompanyhadnoPenaltyandrectification.
10.Integrityofthecompanyanditscontrollingshareholdersandactualcontrollers
□Applicable√Notapplicable
11.Materialrelatedtransactions
(1)Relatedtransactionsinconnectionwithdailyoperation
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(2)Related-partytransactionsarisingfromassetacquisitionorsold
□Applicable√Notapplicable
(3)Related-partytransitionswithjointinvestments
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(4)Creditsandliabilitieswithrelatedparties
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(5)Transactionswithrelatedfinancecompany,especiallyonethatiscontrolledbytheCompany
√Applicable□NotapplicableDepositbusiness
| Relatedparty | Relationship | Maximumdailydepositlimited（Tenthousandyuan） | Depositinterestraterange | Beginningbalance（Tenthousandyuan） | Theamountincurred | Endingbalance（Tenthousandyuan） | |
| Totaldepositamountofthecurrentperiod（Tenthousandyuan） | Totalamountwithdrawninthecurrentperiod（Tenthousandyuan） | ||||||
| GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 300,000 | 0.35%-2.85% | 267,814.82 | 802,532.31 | 821,188.1 | 249,159.03 |
Loanbusiness
| Relatedparty | Relationship | Loanlimit（Tenthousandyuan） | Loantinterestraterange | Beginningbalance（Tenthousandyuan） | Theamountincurred | Endingbalance（Tenthousandyuan） | |
| Totalloanamountforthecurrentperiod（Tenthousandyuan） | Totalrepaymentamountofthisperiod（Tenthousandyuan） | ||||||
| GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 400,000 | 2.55%-3.30% | 40,632.92 | 18,738.18 | 926.47 | 58,444.63 |
Creditextensionorotherfinancialservices
| Relatedparty | Relationship | Businesstype | Totalamount（Tenthousandyuan） | Actualamountincurred（Tenthousandyuan） |
| GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | Creditextension | 400,000 | 58,400 |
(6)TransactionswithrelatedfinancecompanycontrolledbytheCompany
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(7)Othersignificantrelated-partytransactions
√Applicable□NotapplicableTheProposalonConcerningtheCompanyDailyAssociatedTransactionsPredictedof2024wasreviewdandapprovedinthe18thmeetingoftheTenthboardofdirectorsoftheCompany,Agreeonthepredicteddailyassociatedtransactionsforthecompanyheadquarters,wholly-ownedandholdingsubsidiariesof2023,Thetotaltransactionamountdidnotexceed63,811,500yuan.Thewebsitetodisclosetheinterimannouncementsonsignificantrelated-partytransactions
| Descriptionofprovisionalannouncement | Dateofdisclosingprovisionalannouncement | Descriptionofthewebsitefordisclosingprovisionalannouncements |
| EstimatesannouncementoftheDailyRelatedPartyTransactionof2024 | March16,2024 | www.cninfo.com.cn |
12.Significantcontractsandexecution
(1)Entrustments,contractingandleasing1）Entrustment
□Applicable√NotapplicableNosuchcasesinthereportingperiod.2）Contracting
□Applicable√NotapplicableNosuchcasesinthereportingperiod.3）Leasing?Applicable□NotapplicableNoteDuringthereportingperiod,theCompanygeneratedleasingincomeof11,126,252.99yuan,andthemainleasingassetswerehousesandbuildings.Projectwhichgeneratesprofitorlossreachingover10%oftotalprofitsoftheCompanyduringtheReportingPeriod
□Applicable√NotapplicableTherewerenoleaseswitha10%orgreaterimpactontheCompany’sgrossprofitintheReportingPeriod.
(2)SignificantGuarantees
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(3)Financemanagementoncommission
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(4)Othersignificantcontract
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
13.Explanationonothersignificantevents
√Applicable□NotapplicableAfterthedeliberationandapprovalofthethirdextraordinarygeneralmeetingofshareholdersin2020,theCompanyacquired21%oftheequityofGuangdongGuanghuiExpresswayCo.,Ltd.heldbyGuangdongProvincialExpresswayCo.,Ltd.incashin2020(hereinafterreferredtoasthe"Transaction").TheCompanysignedthe"ProfitCompensationAgreementbetweenGuangdongProvincialExpresswayDevelopmentCo.,Ltd.andGuangdongProvincialExpresswayCo.,Ltd."(hereinafterreferredtoasthe"ProfitCompensationAgreement")withProvincialCompany,andProvincialCompanymadeacommitmenttothenetprofitofGuanghuiCompanyin2020,2021and2022(hereinafterreferredtoasthe"PerformanceCommitmentPeriod").Afterthedeliberationandapprovalofthefirstextraordinarygeneralmeetingofshareholdersin2023,theCompanysignedtheSupplementaryAgreementtotheProfitCompensationAgreementbetweenGuangdongProvincialExpresswayDevelopmentCo.,Ltd.andGuangdongProvincialExpresswayCo.,Ltd.(hereinafterreferredtoasthe"SupplementaryAgreement")withProvincialCompany,andtheperformancecommitmentperiodwasadjustedto2020,2021and2023.Accordingtothe"SpecialAuditReportontheRealizationoftheProfitForecastofGuangdongGuanghuiExpresswayCo.,Ltd."(No.310039(2024)YongzhengZhuanzi)issuedbyYongtuoCertifiedPublicAccountants(LLP)onMarch15,2024,in2020,2021and2023,GuanghuiCompanyhadachievedanetprofitof2,951,041,600yuanafterdeductingnon-recurringgainsandlosses,andintheperformancecommitmentperiodof2020,2021,and2023,thepromisedcumulativenetprofitafterdeductingnon-recurringgainsandlossesrealizedwas2,999,265,700yuan.Thecumulativeactualprofitwas48,224,100yuanlessthanthecumulativeamountpromised,whichhadtriggeredtheprovisionsofArticle2.3oftheProfitCompensationAgreementandArticle2.1oftheSupplementaryAgreement,andtheProvincialCompanyshallpayperformancecompensationtotheCompany.Accordingtotheformulaforcalculatingtheamountofperformancecommitmentcompensationagreedintheaboveagreement,theamountofperformancecommitmentcompensationpayablebyProvincialCompanywasRMB40,092,886.12.AsofJuly2,2024,theCompanyhasreceivedtheabove-mentionedperformancecommitmentcompensationpaidbyProvincialCompany.Accordingtotheaccountingstandards,thematerialassetrestructuringin2020wasabusinesscombinationunderthecommoncontrol,andtheamountofperformancecommitmentcompensationwasoffsetbythedifferencebetweentheinitialinvestmentcostandthecashpaidatthattimetoadjustthecapitalreserve,andtherelevantaccountingtreatmenthadbeenreflectedinthe2023annualreport,andtheperformancecompensationreceivedthistimeincreasesthemonetaryfundsofthecurrentperiodandreducesotherreceivablesby40,092,886.12yuaneach,whichwillnotaffecttheCompany'scurrentprofitandtotalassets.Theprovincial
expresswaycompany’sperformancecommitmentcompensationobligationforthemajorassetrestructuringprojectin2020hasbeenfulfilled.
| Descriptionofprovisionalannouncement | Dateofdisclosingprovisionalannouncement | Descriptionofthewebsitefordisclosingprovisionalannouncements |
| Announcementonthecompletionofcashcompensationfortheimplementationoftheperformancecommitmentofthemajorassetrestructuringprojectin2020 | 2024-7-4 | www.cninfo.com.cn |
14.SignificanteventofsubsidiaryoftheCompany
□Applicable√Notapplicable
VII.ChangeofsharecapitalandshareholdingofPrincipalShareholders
1.Changesinsharecapital
(1)Changesinsharecapital
Inshares
| Beforethechange | Increase/decrease（+，-） | AftertheChange | |||||||
| Amount | Proportion | Shareallotment | Bonusshares | Capitalizationofcommonreservefund | Other | Subtotal | Quantity | Proportion | |
| 1.Shareswithconditionalsubscription | 438,827,545 | 20.99% | -44,925 | -44,925 | 438,782,620 | 20.99% | |||
| 1.State-ownedshares | 410,105,738 | 19.61% | 0 | 0 | 410,105,738 | 19.61% | |||
| 2.State-ownedlegalpersonshares | 21,712,738 | 1.04% | 0 | 0 | 21,712,738 | 1.04% | |||
| 3.Otherdomesticshares | 7,009,069 | 0.34% | -44,925 | -44,925 | 6,964,144 | 0.34% | |||
| Including：DomesticLegalpersonshares | 6,539,722 | 0.31% | -99,825 | -99,825 | 6,439,897 | 0.31% | |||
| Domesticnaturalpersonshares | 469,347 | 0.02% | 54,900 | 54,900 | 524,247 | 0.03% | |||
| 4.Foreignshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
| Including：Foreignlegalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
| Foreignnaturalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
| II.Shareswithunconditionalsubscription | 1,651,978,581 | 79.01% | 44,925 | 44,925 | 1,652,023,506 | 79.01% | |||
| 1.CommonsharesinRMB | 1,303,329,906 | 62.34% | 0 | 0 | 1,303,329,906 | 62.34% | |||
| 2.Foreignsharesindomesticmarket | 348,648,675 | 16.68% | 44,925 | 44,925 | 348,693,600 | 16.68% | |||
| 3.Foreignsharesinforeignmarket | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
| 4.Other | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
| III.Totalofcapitalshares | 2,090,806,126 | 100.00% | 0 | 0 | 2,090,806,126 | 100.00% | |||
Reasonsforsharechanged
√Applicable□Notapplicable
(1)DuringtheReportingPeriod,99,825sharesof"domesticlegalpersonholdingofrestrictedconditionalshares"
wereconvertedinto"domesticnaturalpersonholdingofrestrictedconditionalshares"
(2)Duringthereportingperiod,the1950"restrictedsharesheldbydomesticnaturalpersons"heldbytheresigneddirectorandGeneralManagerMr.WangChunhuawereconvertedinto"unrestrictedshares".ApprovalofChangeofShares
□Applicable√NotapplicableOwnershiptransferofsharechanges
□Applicable√NotapplicableImplementationprogressofsharesbuy-back
□Applicable√NotapplicableImplementationprogressofreducingholdingsofsharesbuy-backbycentralizedbidding
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseforthecompanyorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
(2)Changeofshareswithlimitedsalescondition
√Applicable□Notapplicable
InShares
| ShareholderName | InitialRestrictedShares | NumberofUnrestrictedSharesThisTerm | NumberofIncreasedRestrictedSharesThisTerm | RestrictedSharesintheEndoftheTerm | ReasonforRestrictedShares | DateofRestrictionRemoval |
| WangChunhua | 101,325 | 44,925 | 0 | 56,400 | Outgoingexecutiveslockedupshares | June2024 |
| Total | 101,325 | 44,925 | 0 | 56,400 | -- | -- |
2.Securitiesissueandlisting
□Applicable√Notapplicable
3.Shareholdersandactualcontrollingshareholder
InShares
| Totalnumberofcommonshareholdersattheendofthereportingperiod | 51,839 | Totalnumberofpreferredshareholdersthathadrestoredthevotingrightattheendofthereportingperiod(ifany)(note8) | 0 | |||||||
| Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders(Excludesshareslentthroughrefinancing) | ||||||||||
| Shareholders | Natureofshareholder | Proportionofsharesheld（%） | Numberofsharesheldatperiod-end | Changesinreportingperiod | Amountofrestrictedsharesheld | Amountofun-restrictedsharesheld | Numberofsharepledged/frozen | |||
| Stateofshare | Amount | |||||||||
| GuangdongCommunicationGroupCo.,Ltd | State-ownedlegalperson | 24.56% | 513,485,480 | 0 | 410,105,738 | 103,379,742 | Notapplicable | 0 | ||
| GuangdongHighwayConstructionCo.,Ltd, | State-ownedlegalperson | 22.30% | 466,325,020 | 0 | 0 | 466,325,020 | Notapplicable | 0 | ||
| ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | State-ownedlegalperson | 9.68% | 202,429,927 | -8,713,918 | 0 | 202,429,927 | Notapplicable | 0 | ||
| GuangdongProvincialFreewayCo.,Ltd. | State-ownedlegalperson | 2.53% | 52,937,491 | 0 | 19,582,228 | 33,355,263 | Notapplicable | 0 | ||
| TibetHetaiEnterpriseManagementCo.,Ltd. | State-ownedlegalperson | 1.68% | 35,153,050 | -24,247,200 | 0 | 35,153,050 | Notapplicable | 0 | ||
| FengWuchu | Domesticnaturalpersonshares | 1.18% | 24,726,296 | 6,229,967 | 0 | 24,726,296 | Notapplicable | 0 | ||
| ChinaPacificLifeInsuranceCo.,Ltd.-ChinaPacificLifeEquityDividendProduct(LifeProprietaryTrading)EntrustedInvestment(Changjiang | Other | 1.04% | 21,731,388 | 17,618,970 | 0 | 21,731,388 | Notapplicable | 0 | ||
| Pension) | ||||||||||
| HKSCC | Overseaslegalperson | 0.97% | 20,338,420 | -12,658,095 | 0 | 20,338,420 | Notapplicable | 0 | ||
| SDICSecurities | State-ownedlegalperson | 0.89% | 18,664,177 | 18,664,177 | 0 | 18,664,177 | Notapplicable | 0 | ||
| XinyueCo.,Ltd. | Overseaslegalperson | 0.63% | 13,201,086 | 0 | 0 | 13,201,086 | Notapplicable | 0 | ||
| Strategicinvestororgenerallegalpersonbecomingtop-10ordinaryshareholderduetorightsissue(ifany)(seenote3) | None | |||||||||
| Relatedoracting-in-concertpartiesamongshareholdersabove | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.，GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. | |||||||||
| Aboveshareholdersentrustingorentrustedwithvotingrights,orwaivingvotingrights | None | |||||||||
| Top10shareholdersincludingthespecialaccountforrepurchase(ifany)(seenote10) | None | |||||||||
| Shareholdingoftop10shareholdersofunrestrictedshares(ExcludingshareslentthroughrefinancingandTopmanagementlock-instock) | ||||||||||
| Nameoftheshareholder | Quantityofunrestrictedsharesheldattheendofthereportingperiod | Sharetype | ||||||||
| Sharetype | Quantity | |||||||||
| GuangdongHighwayConstructionCo.,Ltd, | 466,325,020 | RMBCommonshares | 466,325,020 | |||||||
| ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | 202,429,927 | RMBCommonshares | 202,429,927 | |||||||
| GuangdongCommunicationGroupCo.,Ltd | 103,379,742 | RMBCommonshares | 103,379,742 | |||||||
| TibetHetaiEnterpriseManagementCo.,Ltd. | 35,153,050 | RMBCommonshares | 35,153,050 | |||||||
| GuangdongProvincialFreewayCo.,Ltd. | 33,355,263 | RMBCommonshares | 33,355,263 | |||||||
| FengWuchu | 24,726,296 | RMBCommonshares | 21,770,233 | |||||||
| Foreignsharesplacedindomestic | 2,956,063 | |||||||||
| ChinaPacificLifeInsuranceCo.,Ltd.-ChinaPacificLifeEquityDividendProduct(LifeProprietaryTrading)EntrustedInvestment(ChangjiangPension) | 21,731,388 | RMBCommonshares | 21,731,388 | |||||||
| HKSCC | 20,338,420 | RMBCommonshares | 20,338,420 | |||||||
| SDICSecurities | 18,664,177 | RMBCommonshares | 18,664,177 | |||||||
| XinyueCo.,Ltd. | 13,201,086 | Foreignsharesplacedindomestic | 13,201,086 | |||||||
| Explanationonassociatedrelationshiporconsistentaction | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.， | |||||||||
| amongthetop10shareholdersofnon-restrictednegotiablesharesandthatbetweenthetop10shareholdersofnon-restrictednegotiablesharesandtop10shareholders | GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. |
| Top10ordinaryshareholdersconductingsecuritiesmargintrading(ifany)(seenote4) | None |
Informationofshareholdersholdingmorethan5%oftheshares,thetop10shareholdersandthetop10shareholdersofunrestrictedtradablesharesparticipatinginthelendingofsharesinsecuritieslendingandborrowingbusiness
□Applicable√NotapplicableThetop10shareholdersandthetop10shareholdersofunrestrictedtradableshareshavechangedcomparedwiththepreviousperiodduetothesecuritieslending/returning,
□Applicable√NotapplicableWhethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod.
□Yes√NoThetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy–backagreementdealinginreportingperiod.
4.Changesinshareholdingsofdirectors,supervisorsandexecutiveofficers?Applicable□Notapplicable
| Name | Position | Employmentstatus | Numberofsharesheldatthebeginningoftheperiod(shares) | Numberofsharesincreasedinthisperiod(shares) | Numberofsharesreducedinthisperiod(shares) | Numberofsharesheldattheendoftheperiod(shares) | Numberofrestrictedsharesgrantedatthebeginningoftheperiod(shares) | Numberofrestrictedsharesgrantedinthisperiod(shares) | Numberofrestrictedsharesgrantedattheendoftheperiod(shares) |
| WangChunhua | Director,GM | Dimission | 135,100 | 0 | 78,700 | 56,400 | 0 | 0 | 0 |
| Total | -- | -- | 135,100 | 0 | 78,700 | 56,400 | 0 | 0 | 0 |
5.ChangeofthecontrollingshareholderortheactualcontrollerChangeofthecontrollingshareholderinthereportingperiod
□Applicable√NotApplicableTherewasnoanychangeofthecontrollingshareholderoftheCompanyinthereportingperiod.Changeoftheactualcontrollerinthereportingperiod
□Applicable√NotapplicableTherewasnoanychangeoftheactualcontrolleroftheCompanyinthereportingperiod.
VIII.SituationofthePreferredShares
□Applicable√NotapplicableTheCompanyhadnopreferredsharesinthereportingperiod
IX.CorporateBond
√Applicable□Notapplicable
1.Enterprisebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
2.Corporatebond
√Applicable□NotapplicableNosuchcasesinthereportingperiod.
3.Debtfinancinginstrumentsofnon-financialenterprises
√Applicable□Notapplicable
(1)Basicinformation
InRMB10,000
| Bondname | Bondshortname | Bondcode | Issueday | Valuedate | Dueday | Bondbalance | Interestrate | Servicingway | Trading |
| GuangdongProvincialExpresswayDevelopmentCo.,Ltd.2020firstphasemedium-termnotes | 20GuangdongExpresswayMTN001 | 102000367 | March13,2020 | March17,2020 | March17,2025 | 74,964.76 | 3% | Duepaymentsonceayear,Theprincipalandthelastinstalmentinterestarepaidinonelumpsumontheredemptiondate. | Interbankmarket |
| Applicabletradingmechanism | Circulationandtransferinthenationalinter-bankbondmarket,itslistingandcirculationwillbecarriedoutinaccordancewiththerelevantregulationspromulgatedbytheNationalInterbankFundingCenter. | ||||||||
Overdueandunpaidbonds
□Applicable√Notapplicable
(2)Triggerandimplementationofoptionclausesandinvestorprotectionclausesoftheissuerorinvestor
□Applicable√Notapplicable
(3)Adjustmentofcreditratingresultsduringthereportingperiod
□Applicable√Notapplicable
(4)Theimplementationandchangesofguarantee,debtrepaymentplanandotherdebtrepaymentguaranteemeasuresduringthereportingperiodandtheirimpactontherightsandinterestsofbondinvestors
□Applicable√Notapplicable
4.Convertiblebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod
5.Thelosswithinthescopeofconsolidatedstatementsinthereportingperiodexceeded10%ofthenetassetsattheendofthepreviousyear
□Applicable√Notapplicable
6.MainaccountingdataandfinancialindicatorsoftheCompanyinrecenttwoyearsbytheendofthereportingperiod
InRMB10,000
| Items | Attheendofthereportingperiod | Attheendoflastyear | Atthesametimerateofchange |
| Currentratio | 1.77 | 3.22 | -45.03% |
| Debtratio | 45.31% | 41.93% | 3.38% |
| Quickratio | 1.77 | 3.22 | -45.03% |
Amountofthisperiod
| Amountofthisperiod | Amountoflastperiod | Atthesametimerateofchange | |
| Netprofitafterdeductingnon-recurringprofitandloss | 88,385.94 | 91,368.36 | -3.26% |
| EBITDAtotaldebtratio | 27.39% | 28.03% | -0.64% |
| Timeinterestearnedratio | 13.44 | 12.54 | 7.18% |
| Cashinterestguaranteetimes | 13.69 | 14.86 | -7.87% |
| EBITDATimeinterestearnedratio | 17.97 | 16.74 | 7.35% |
| Repaymentofdebt(%) | 100.00% | 100.00% | 0.00% |
| Paymentofinterest(%) | 100.00% | 100.00% | 0.00% |
X.FinancialReport
I.AuditreportHasthissemi-annualreportbeenaudited?
□Yes√NoThesemi-annualreportwasnotaudited.II.FinancialstatementsCurrencyunitforthestatementsinthenotestothesefinancialstatements:RMB
1.ConsolidatedbalancesheetPreparedby:GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
June30,2024
InRMB
| Items | June30,2024 | January1,2024 |
| Currentasset： | ||
| Monetaryfund | 4,978,196,775.29 | 4,718,631,732.20 |
| Settlementprovision | ||
| Outgoingcallloan | ||
| Transactionalfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountreceivable | 131,823,489.75 | 139,899,420.24 |
| Financingofreceivables | ||
| Prepayments | 4,802,776.76 | 8,488,165.87 |
| Insurancereceivable | ||
| Reinsurancereceivable | ||
| ProvisionsofReinsurancecontractsreceivable | ||
| Otheraccountreceivable | 135,323,936.49 | 89,578,207.76 |
| Including：Interestreceivable | ||
| Dividendreceivable | 41,904,578.21 | 1,205,472.90 |
| Repurchasingoffinancialassets | ||
| Inventories | ||
| Including：Dataresources | ||
| Contractassets | ||
| Assetsheldforsales | ||
| Non-currentassetduewithin1year | ||
| Othercurrentasset | 799,343.92 | 34,805.71 |
| Totalofcurrentassets | 5,250,946,322.21 | 4,956,632,331.78 |
| Items | June30,2024 | January1,2024 |
| Non-currentassets： | ||
| Loansandpaymentonother’sbehalfdisbursed | ||
| Creditor'srightinvestment | ||
| Othercreditor'srightinvestment | ||
| Long-termreceivable | ||
| Longtermshareequityinvestment | 3,294,938,555.27 | 3,095,578,288.00 |
| Otherequityinstrumentsinvestment | 1,620,783,112.34 | 1,534,396,887.63 |
| Othernon-currentfinancialassets | 183,856,768.00 | 183,856,768.00 |
| Propertyinvestment | 2,336,467.21 | 2,447,026.45 |
| Fixedassets | 8,497,540,533.10 | 9,010,168,712.92 |
| Constructioninprogress | 2,511,732,378.97 | 1,960,092,562.22 |
| Productionphysicalassets | ||
| Oil&gasassets | ||
| Userightassets | 19,592,513.91 | 24,967,509.81 |
| Intangibleassets | 209,172,928.81 | 221,328,753.00 |
| Including：Dataresources | ||
| Developmentexpenses | ||
| Including：Dataresources | ||
| Goodwill | ||
| Long-germexpensestobeamortized | ||
| Deferredincometaxasset | 35,292,709.71 | 39,836,115.11 |
| Othernon-currentasset | 753,224,580.10 | 339,658,212.49 |
| Totalofnon-currentassets | 17,128,470,547.42 | 16,412,330,835.63 |
| Totalofassets | 22,379,416,869.63 | 21,368,963,167.41 |
| Currentliabilities | ||
| Short-termloans | 290,205,416.67 | 110,085,708.33 |
| LoanfromCentralBank | ||
| Borrowingfunds | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountpayable | 163,272,131.47 | 214,450,590.80 |
| Advancereceipts | 1,190,550.33 | 2,647,230.92 |
| Contractliabilities | ||
| Sellingofrepurchasedfinancialassets | ||
| Deposittakingandinterbankdeposit | ||
| Entrustedtradingofsecurities | ||
| Entrustedsellingofsecurities | ||
| Employees’wagepayable | 24,773,533.66 | 20,622,986.18 |
| Taxpayable | 186,109,553.62 | 155,123,590.65 |
| Otheraccountpayable | 1,348,935,901.67 | 150,293,516.43 |
| Including：Interestpayable | ||
| Dividendpayable | 1,213,945,107.40 | 27,809,510.32 |
| Items | June30,2024 | January1,2024 |
| Feesandcommissionspayable | ||
| Reinsurancefeepayable | ||
| Liabilitiesheldforsales | ||
| Non-currentliabilityduewithin1year | 957,501,092.12 | 883,412,159.65 |
| Othercurrentliability | 160,930.05 | 368,676.26 |
| Totalofcurrentliability | 2,972,149,109.59 | 1,537,004,459.22 |
| Non-currentliabilities： | ||
| Reservefundforinsurancecontracts | ||
| Long-termloan | 6,435,971,150.00 | 5,944,716,050.00 |
| Bondpayable | 749,401,333.95 | |
| Including：preferredstock | ||
| Sustainabledebt | ||
| Leaseliability | 8,218,005.37 | 13,482,202.97 |
| Long-termpayable | 2,022,210.11 | 2,022,210.11 |
| Long-termremunerationpayabletostaff | ||
| Expectedliabilities | ||
| Deferredincome | 420,164,147.85 | 429,079,908.54 |
| Deferredincometaxliability | 300,495,276.69 | 284,451,199.04 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 7,166,870,790.02 | 7,423,152,904.61 |
| Totalofliability | 10,139,019,899.61 | 8,960,157,363.83 |
| Owners’equity | ||
| Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
| Otherequityinstruments | ||
| Including：preferredstock | ||
| Sustainabledebt | ||
| Capitalreserves | 782,827,984.12 | 783,125,493.70 |
| Less：Sharesinstock | ||
| Othercomprehensiveincome | 245,481,389.65 | 163,568,401.33 |
| Specialreserve | ||
| Surplusreserves | 1,520,627,456.34 | 1,520,627,456.34 |
| Commonriskprovision | ||
| Retainedprofit | 5,001,198,868.60 | 5,289,404,378.52 |
| Totalofowner’sequitybelongtotheparentcompany | 9,640,941,824.71 | 9,847,531,855.89 |
| Minorityshareholders’equity | 2,599,455,145.31 | 2,561,273,947.69 |
| Totalofowners’equity | 12,240,396,970.02 | 12,408,805,803.58 |
| Totalofliabilitiesandowners’equity | 22,379,416,869.63 | 21,368,963,167.41 |
LegalRepresentative:MiaoDeshanPersoninchargeofaccounting：LuMing
AccountingDeptLeader:YanXiaohong
2.ParentCompanyBalanceSheet
InRMB
| Items | June30,2024 | January1,2024 |
| Currentasset： | ||
| Monetaryfund | 2,588,211,812.01 | 2,464,109,767.51 |
| Transactionalfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountreceivable | 28,166,032.89 | 31,718,251.28 |
| Financingofreceivables | ||
| Prepayments | 3,528,177.33 | 6,668,377.73 |
| Otheraccountreceivable | 797,638,696.99 | 1,021,305,845.87 |
| Including：Interestreceivable | ||
| Dividendreceivable | 41,904,578.21 | 1,205,472.90 |
| Inventories | ||
| Including：Dataresources | ||
| Contractassets | ||
| Assetsheldforsales | ||
| Non-currentassetduewithin1year | ||
| Othercurrentasset | 761,419.42 | |
| Totalofcurrentassets | 3,418,306,138.64 | 3,523,802,242.39 |
| Non-currentassets： | ||
| Creditor'srightinvestment | ||
| Othercreditor'srightinvestment | ||
| Long-termreceivable | ||
| Longtermshareequityinvestment | 7,393,437,171.87 | 6,942,986,509.74 |
| Otherequityinstrumentsinvestment | 1,620,783,112.34 | 1,534,396,887.63 |
| Othernon-currentfinancialassets | ||
| Propertyinvestment | 2,245,788.03 | 2,194,888.20 |
| Fixedassets | 4,733,985,881.25 | 4,929,287,711.63 |
| Constructioninprogress | 312,809,617.62 | 241,492,676.67 |
| Productionphysicalassets | ||
| Oil&gasassets | ||
| Userightassets | 18,852,194.30 | 24,137,970.26 |
| Intangibleassets | 119,649,992.26 | 124,092,435.10 |
| Including：Dataresources | ||
| Developmentexpenses | ||
| Including：Dataresources | ||
| Goodwill | ||
| Long-germexpensestobeamortized | ||
| Deferredincometaxasset | 29,658,092.86 | 33,747,359.73 |
| Othernon-currentasset | 12,034,662.94 | |
| Totalofnon-currentassets | 14,243,456,513.47 | 13,832,336,438.96 |
| Items | June30,2024 | January1,2024 |
| Totalofassets | 17,661,762,652.11 | 17,356,138,681.35 |
| Currentliabilities | ||
| Short-termloans | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountpayable | 93,938,694.30 | 119,520,338.64 |
| Advancereceipts | 1,118,836.04 | 250,984.74 |
| ContractLiabilities | ||
| Employees’wagepayable | 7,520,787.01 | 7,453,993.89 |
| Taxpayable | 46,134,831.52 | 8,185,707.22 |
| Otheraccountpayable | 1,440,475,320.04 | 374,738,279.30 |
| Including：Interestpayable | ||
| Dividendpayable | 1,172,771,718.11 | 27,809,510.32 |
| Liabilitiesheldforsales | ||
| Non-currentliabilityduewithin1year | 896,580,158.48 | 824,960,532.88 |
| Othercurrentliability | 30,751.03 | 52,275.94 |
| Totalofcurrentliability | 2,485,799,378.42 | 1,335,162,112.61 |
| Non-currentliabilities： | ||
| Long-termloan | 5,385,367,900.00 | 5,464,096,050.00 |
| Bondpayable | 749,401,333.95 | |
| Including：preferredstock | ||
| Sustainabledebt | ||
| Leaseliability | 8,139,620.67 | 13,405,284.96 |
| Long-termpayable | 2,022,210.11 | 2,022,210.11 |
| Long-termremunerationpayabletostaff | ||
| Expectedliabilities | ||
| Deferredincome | 1,914,760.94 | 3,555,984.68 |
| Deferredincometaxliability | 81,869,154.88 | 61,555,338.93 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 5,479,313,646.60 | 6,294,036,202.63 |
| Totalofliability | 7,965,113,025.02 | 7,629,198,315.24 |
| Owners’equity | ||
| Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
| Otherequityinstruments | ||
| Including：preferredstock | ||
| Sustainabledebt | ||
| Capitalreserves | 975,003,604.00 | 975,003,604.00 |
| Less：Sharesinstock | ||
| Othercomprehensiveincome | 245,481,389.65 | 163,568,401.33 |
| Specialreserve |
| Items | June30,2024 | January1,2024 |
| Surplusreserves | 1,340,655,188.78 | 1,340,655,188.78 |
| Retainedprofit | 5,044,703,318.66 | 5,156,907,046.00 |
| Totalofowners’equity | 9,696,649,627.09 | 9,726,940,366.11 |
| Totalofliabilitiesandowners’equity | 17,661,762,652.11 | 17,356,138,681.35 |
3.ConsolidatedIncomestatement
InRMB
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| I.Incomefromthekeybusiness | 2,230,865,662.20 | 2,340,436,775.08 |
| Incl：Businessincome | 2,230,865,662.20 | 2,340,436,775.08 |
| Interestincome | ||
| Insurancefeeearned | ||
| Feeandcommissionreceived | ||
| II.Totalbusinesscost | 859,137,382.65 | 921,351,272.48 |
| Incl：Businesscost | 713,009,009.42 | 740,670,310.49 |
| Interestexpense | ||
| Feeandcommissionpaid | ||
| Insurancedischargepayment | ||
| Netclaimamountpaid | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Insurancepolicydividendpaid | ||
| Reinsuranceexpenses | ||
| Businesstaxandsurcharge | 9,369,301.31 | 9,422,373.99 |
| Salesexpense | ||
| Administrativeexpense | 82,947,690.68 | 80,023,845.71 |
| R&Dcosts | 81,651.82 | |
| Financialexpenses | 53,811,381.24 | 91,153,090.47 |
| Including：Interestexpense | 86,505,113.33 | 109,161,060.69 |
| Interestincome | 32,771,177.29 | 18,067,700.31 |
| Add:Otherincome | 5,617,528.46 | 6,449,973.78 |
| Investmentgain（“-”forloss） | 153,501,177.19 | 181,402,127.67 |
| Incl:investmentgainsfromaffiliates | 112,802,071.88 | 109,631,134.53 |
| Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
| Gainsfromcurrencyexchange | ||
| Netexposurehedgingincome | ||
| Changingincomeoffairvalue | ||
| Creditimpairmentloss | -44,875,103.57 | -45,626,953.18 |
| Impairmentlossofassets | ||
| Assetsdisposalincome | ||
| III.Operationalprofit（“-”forloss） | 1,485,971,881.63 | 1,561,310,650.87 |
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| Add：Non-operationalincome | 2,970,858.52 | 2,148,292.85 |
| Less:Non-operatingexpense | 1,775,168.96 | 240,222.59 |
| IV.Totalprofit(“-”forloss) | 1,487,167,571.19 | 1,563,218,721.13 |
| Less：Incometaxexpenses | 349,883,636.23 | 369,040,383.81 |
| V.Netprofit | 1,137,283,934.96 | 1,194,178,337.32 |
| (I)Classificationbybusinesscontinuity | ||
| 1.Netcontinuingoperatingprofit | 1,137,283,934.96 | 1,194,178,337.32 |
| 2.Terminationofoperatingnetprofit | ||
| (II)Classificationbyownership | ||
| 1.Netprofitattributabletotheownersofparentcompany | 855,465,441.00 | 885,644,187.99 |
| 2.Minorityshareholders’equity | 281,818,493.96 | 308,534,149.33 |
| VI.Netafter-taxofothercomprehensiveincome | 81,912,988.32 | 8,615,116.02 |
| Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany. | 81,912,988.32 | 8,615,116.02 |
| （I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | 69,544,404.36 | -3,495,182.31 |
| 1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
| 2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
| 3.Changesinthefairvalueofinvestmentsinotherequityinstruments | 64,789,668.53 | -3,495,182.31 |
| 4.Changesinthefairvalueofthecompany’screditrisks | ||
| 5.Other | ||
| （II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss. | 12,368,583.96 | 12,110,298.33 |
| 1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | 12,368,583.96 | 12,110,298.33 |
| 2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5.Reserveforcashflowhedges | ||
| 6.Translationdifferencesincurrencyfinancialstatements | ||
| 7.Other | ||
| NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity | ||
| VII.Totalcomprehensiveincome | 1,219,196,923.28 | 1,202,793,453.34 |
| Totalcomprehensiveincomeattributabletotheowneroftheparent | 937,378,429.32 | 894,259,304.01 |
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| company | ||
| Totalcomprehensiveincomeattributableminorityshareholders | 281,818,493.96 | 308,534,149.33 |
| VIII.Earningspershare | ||
| （I）Basicearningspershare | 0.41 | 0.42 |
| (II)Dilutedearningspershare | 0.41 | 0.42 |
Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievednetprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.LegalRepresentative:MiaoDeshanPersoninchargeofaccounting：LuMingAccountingDeptLeader:ZhouFang
4.IncomestatementoftheParentCompany
InRMB
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| I.Incomefromthekeybusiness | 747,726,356.92 | 740,672,433.01 |
| Incl：Businesscost | 251,427,697.00 | 244,287,384.51 |
| Businesstaxandsurcharge | 3,919,611.75 | 3,726,508.48 |
| Salesexpense | ||
| Administrativeexpense | 51,192,311.12 | 49,125,187.49 |
| R&Dexpense | ||
| Financialexpenses | 83,841,733.97 | 110,048,379.46 |
| Including：Interestexpenses | 102,774,650.40 | 121,332,718.54 |
| Interestincome | 18,957,385.88 | 11,309,040.26 |
| Add：Otherincome | 1,763,575.02 | 2,607,245.65 |
| Investmentgain（“-”forloss） | 765,186,346.77 | 596,720,630.99 |
| Including:investmentgainsfromaffiliates | 115,094,457.16 | 108,689,822.92 |
| Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
| Netexposurehedgingincome | ||
| Changingincomeoffairvalue | ||
| Creditimpairmentloss | ||
| Impairmentlossofassets | ||
| Assetsdisposalincome | ||
| II.Operationalprofit（“-”forloss） | 1,124,294,924.87 | 932,812,849.71 |
| Add：Non-operationalincome | 768,133.90 | 517,077.90 |
| Less：Non-operationalexpenses | 351,002.85 | 15,753.62 |
| III.Totalprofit(“-”forloss) | 1,124,712,055.92 | 933,314,173.99 |
| Less：Incometaxexpenses | 93,244,832.34 | 88,524,211.63 |
| IV.Netprofit | 1,031,467,223.58 | 844,789,962.36 |
| 1.Netcontinuingoperatingprofit | 1,031,467,223.58 | 844,789,962.36 |
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| 2.Terminationofoperatingnetprofit | ||
| V.Netafter-taxofothercomprehensiveincome | 81,912,988.32 | 8,615,116.02 |
| （I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | 69,544,404.36 | -3,495,182.31 |
| 1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
| 2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | 4,754,735.83 | |
| 3.Changesinthefairvalueofinvestmentsinotherequityinstruments | 64,789,668.53 | -3,495,182.31 |
| 4.Changesinthefairvalueofthecompany’screditrisks | ||
| 5.Other | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | 12,368,583.96 | 12,110,298.33 |
| 1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | 12,368,583.96 | 12,110,298.33 |
| 2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5.Reserveforcashflowhedges | ||
| 6.Translationdifferencesincurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 1,113,380,211.90 | 853,405,078.38 |
| VII.Earningspershare | ||
| （I）Basicearningspershare | ||
| (II)Dilutedearningspershare |
5.ConsolidatedCashflowstatement
InRMB
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| I.Cashflowsfromoperatingactivities | ||
| Cashreceivedfromsalesofgoodsorrendingofservices | 2,296,987,957.17 | 2,387,824,431.30 |
| Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany | ||
| Netincreaseofloansfromcentralbank | ||
| Netincreaseofinter-bankloansfromotherfinancialbodies |
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| Cashreceivedagainstoriginalinsurancecontract | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofclientdepositandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofinter-bankfundreceived | ||
| Netincreaseofrepurchasingbusiness | ||
| Netcashreceivedbyagentinsecuritiestrading | ||
| Taxreturned | ||
| Othercashreceivedfrombusinessoperation | 55,675,566.81 | 239,874,283.43 |
| Sub-totalofcashinflow | 2,352,663,523.98 | 2,627,698,714.73 |
| Cashpaidforpurchasingofmerchandiseandservices | 108,205,508.31 | 93,721,829.45 |
| Netincreaseofclienttradeandadvance | ||
| Netincreaseofsavingsincentralbankandbrothercompany | ||
| Cashpaidfororiginalcontractclaim | ||
| Netincreaseinfinancialassetsheldfortradingpurposes | ||
| NetincreaseforOutgoingcallloan | ||
| Cashpaidforinterest,processingfeeandcommission | ||
| Cashpaidtostaffsorpaidforstaffs | 209,856,266.59 | 208,391,670.68 |
| Taxespaid | 394,301,408.92 | 272,784,405.49 |
| Othercashpaidforbusinessactivities | 37,044,330.48 | 38,883,617.41 |
| Sub-totalofcashoutflowfrombusinessactivities | 749,407,514.30 | 613,781,523.03 |
| Netcashgeneratedfrom/usedinoperatingactivities | 1,603,256,009.68 | 2,013,917,191.70 |
| II.Cashflowgeneratedbyinvesting | ||
| Cashreceivedfrominvestmentretrieving | ||
| Cashreceivedasinvestmentgains | 19,579,614.82 | 48,694,370.25 |
| Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 39,500.00 | 13,110.00 |
| Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | ||
| Otherinvestment-relatedcashreceived | 3,692,567.08 | |
| Sub-totalofcashinflowduetoinvestmentactivities | 23,311,681.90 | 48,707,480.25 |
| Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 952,618,810.45 | 582,217,768.98 |
| Cashpaidasinvestment | 89,312,000.00 | 101,080,000.00 |
| Netincreaseofloanagainstpledge | ||
| Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
| Othercashpaidforinvestmentactivities | 1,701,600.00 | |
| Sub-totalofcashoutflowduetoinvestmentactivities | 1,043,632,410.45 | 683,297,768.98 |
| Netcashflowgeneratedbyinvestment | -1,020,320,728.55 | -634,590,288.73 |
| III.Cashflowgeneratedbyfinancing | ||
| Cashreceivedasinvestment | 87,937,500.00 | 88,470,000.47 |
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| Including:Cashreceivedasinvestmentfromminorshareholders | 87,937,500.00 | 88,470,000.47 |
| Cashreceivedasloans | 780,000,000.00 | 414,525,000.00 |
| Otherfinancing–relatedcashreceived | 1,460,847.67 | |
| Sub-totalofcashinflowfromfinancingactivities | 867,937,500.00 | 504,455,848.14 |
| Cashtorepaydebts | 751,931,275.00 | 469,864,650.00 |
| Cashpaidasdividend,profit,orinterests | 441,738,661.71 | 415,505,541.67 |
| Including:Dividendandprofitpaidbysubsidiariestominorshareholders | 290,401,407.05 | 255,975,174.55 |
| Othercashpaidforfinancingactivities | 3,488,898.16 | 8,327,523.02 |
| Sub-totalofcashoutflowduetofinancingactivities | 1,197,158,834.87 | 893,697,714.69 |
| Netcashflowgeneratedbyfinancing | -329,221,334.87 | -389,241,866.55 |
| IV.Influenceofexchangeratealternationoncashandcashequivalents | ||
| V.Netincreaseofcashandcashequivalents | 253,713,946.26 | 990,085,036.42 |
| Add:balanceofcashandcashequivalentsatthebeginningofterm | 4,701,657,434.00 | 4,284,688,231.33 |
| VI..Balanceofcashandcashequivalentsattheendofterm | 4,955,371,380.26 | 5,274,773,267.75 |
6.CashFlowStatementoftheParentCompany
InRMB
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| I.Cashflowsfromoperatingactivities | ||
| Cashreceivedfromsalesofgoodsorrendingofservices | 774,070,900.69 | 763,931,695.41 |
| Taxreturned | ||
| Othercashreceivedfrombusinessoperation | 22,265,281.97 | 142,656,776.31 |
| Sub-totalofcashinflow | 796,336,182.66 | 906,588,471.72 |
| Cashpaidforpurchasingofmerchandiseandservices | 37,386,164.18 | 24,172,182.68 |
| Cashpaidtostaffsorpaidforstaffs | 65,847,099.39 | 62,195,705.48 |
| Taxespaid | 78,312,422.66 | 24,138,943.36 |
| Othercashpaidforbusinessactivities | 89,938,813.82 | 55,091,483.76 |
| Sub-totalofcashoutflowfrombusinessactivities | 271,484,500.05 | 165,598,315.28 |
| Netcashgeneratedfrom/usedinoperatingactivities | 524,851,682.61 | 740,990,156.44 |
| II.Cashflowgeneratedbyinvesting | ||
| Cashreceivedfrominvestmentretrieving | ||
| Cashreceivedasinvestmentgains | 630,032,615.15 | 499,852,096.70 |
| Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 36,500.00 | 13,110.00 |
| Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | ||
| Otherinvestment-relatedcashreceived | ||
| Sub-totalofcashinflowduetoinvestmentactivities | 630,069,115.15 | 499,865,206.70 |
| Items | Thefirsthalfyearof2024 | Thefirsthalfyearof2023 |
| Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 92,121,214.65 | 68,690,286.59 |
| Cashpaidasinvestment | 74,000,000.00 | 98,000,000.00 |
| Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
| Othercashpaidforinvestmentactivities | ||
| Sub-totalofcashoutflowduetoinvestmentactivities | 166,121,214.65 | 166,690,286.59 |
| Netcashflowgeneratedbyinvestment | 463,947,900.50 | 333,174,920.11 |
| III.Cashflowgeneratedbyfinancing | ||
| Cashreceivedasinvestment | ||
| Cashreceivedasloans | ||
| Otherfinancing–relatedashreceived | ||
| Sub-totalofcashinflowfromfinancingactivities | ||
| Cashtorepaydebts | 723,987,150.00 | 25,339,650.00 |
| Cashpaidasdividend,profit,orinterests | 137,221,490.45 | 145,644,863.29 |
| Othercashpaidforfinancingactivities | 3,488,898.16 | 8,327,523.02 |
| Sub-totalofcashoutflowduetofinancingactivities | 864,697,538.61 | 179,312,036.31 |
| Netcashflowgeneratedbyfinancing | -864,697,538.61 | -179,312,036.31 |
| IV.Influenceofexchangeratealternationoncashandcashequivalents | ||
| V.Netincreaseofcashandcashequivalents | 124,102,044.50 | 894,853,040.24 |
| Add:balanceofcashandcashequivalentsatthebeginningofterm | 2,462,888,567.51 | 1,811,814,561.84 |
| VI..Balanceofcashandcashequivalentsattheendofterm | 2,586,990,612.01 | 2,706,667,602.08 |
7.ConsolidatedStatementonChangeinOwners’EquityAmountinthisperiod
InRMB
| Items | Thefirsthalfyearof2024 | ||||||||||||||
| Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Sustainabledebt | Other | |||||||||||||
| I.Balanceattheendoflastyear | 2,090,806,126 | 783,125,493.70 | 163,568,401.33 | 1,520,627,456.34 | 5,289,404,378.52 | 9,847,531,855.89 | 2,561,273,947.69 | 12,408,805,803.58 | |||||||
| Add:Changeofaccountingpolicy | |||||||||||||||
| Correctingofpreviouserrors | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatthebeginningofcurrentyear | 2,090,806,126 | 783,125,493.70 | 163,568,401.33 | 1,520,627,456.34 | 5,289,404,378.52 | 9,847,531,855.89 | 2,561,273,947.69 | 12,408,805,803.58 | |||||||
| III.Changedinthecurrentyear | -297,509.58 | 81,912,988.32 | -288,205,509.92 | -206,590,031.18 | 38,181,197.62 | -168,408,833.56 | |||||||||
| （1）Totalcomprehensiveincome | 81,912,988.32 | 855,465,441.00 | 937,378,429.32 | 281,818,493.96 | 1,219,196,923.28 | ||||||||||
| （II）Investmentordecreasingofcapitalbyowners | 87,937,500.00 | 87,937,500.00 | |||||||||||||
| 1．OrdinarySharesinvestedbyshareholders | 87,937,500.00 | 87,937,500.00 | |||||||||||||
| 2．Holdersofotherequityinstrumentsinvestedcapital | |||||||||||||||
| 3．Amountofsharespaidandaccountedasowners’equity | |||||||||||||||
| Items | Thefirsthalfyearof2024 | ||||||||||||||
| Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Sustainabledebt | Other | |||||||||||||
| 4．Other | |||||||||||||||
| （III）Profitallotment | -1,143,670,950.92 | -1,143,670,950.92 | -331,574,796.34 | -1,475,245,747.26 | |||||||||||
| 1.Providingofsurplusreserves | |||||||||||||||
| 2.Providingofcommonriskprovisions | |||||||||||||||
| 3．Allotmenttotheowners(orshareholders) | -1,143,670,950.92 | -1,143,670,950.92 | -331,574,796.34 | -1,475,245,747.26 | |||||||||||
| 4．Other | |||||||||||||||
| (IV)Internaltransferringofowners’equity | |||||||||||||||
| 1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||||
| 2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||||
| 3．Makinguplossesbysurplusreserves. | |||||||||||||||
| 4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||||
| 5．Othercomprehensiveincome | |||||||||||||||
| Items | Thefirsthalfyearof2024 | ||||||||||||||
| Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Sustainabledebt | Other | |||||||||||||
| carry-overretainedearnings | |||||||||||||||
| 6．Other | |||||||||||||||
| (V).Specialreserves | |||||||||||||||
| 1.Providedthisyear | |||||||||||||||
| 2．Usedthisterm | |||||||||||||||
| （VI）Other | -297,509.58 | -297,509.58 | -297,509.58 | ||||||||||||
| IV.Balanceattheendofthisterm | 2,090,806,126 | 782,827,984.12 | 245,481,389.65 | 1,520,627,456.34 | 5,001,198,868.60 | 9,640,941,824.71 | 2,599,455,145.31 | 12,240,396,970.02 | |||||||
Amountinlastyear
InRMB
| Items | Thefirsthalfyearof2023 | ||||||||||||||
| Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Sustainabledebt | Other | |||||||||||||
| I.Balanceattheendoflastyear | 2,090,806,126 | 743,133,557.03 | 170,633,656.67 | 1,373,056,469.02 | 4,698,029,354.09 | 9,075,659,162.81 | 2,293,020,019.86 | 11,368,679,182.67 | |||||||
| Add:Changeofaccountingpolicy | |||||||||||||||
| Correctingofpreviouserrors | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatthebeginningofcurrentyear | 2,090,806,126 | 743,133,557.03 | 170,633,656.67 | 1,373,056,469.02 | 4,698,029,354.09 | 9,075,659,162.81 | 2,293,020,019.86 | 11,368,679,182.67 | |||||||
| III.Changedinthecurrentyear | -73,970.47 | 8,615,116.02 | -9,220,833.94 | -679,688.39 | 175,328,975.25 | 174,649,286.86 | |||||||||
| （1）Totalcomprehensiveincome | 8,615,116.02 | 885,644,187.99 | 894,259,304.01 | 308,534,149.33 | 1,202,793,453.34 | ||||||||||
| （II）Investmentordecreasingofcapitalbyowners | 88,470,000.47 | 88,470,000.47 | |||||||||||||
| 1．OrdinarySharesinvestedbyshareholders | 88,470,000.47 | 88,470,000.47 | |||||||||||||
| 2．Holdersofotherequityinstrumentsinvestedcapital | |||||||||||||||
| 3．Amountofsharespaidand | |||||||||||||||
| Items | Thefirsthalfyearof2023 | ||||||||||||||
| Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Sustainabledebt | Other | |||||||||||||
| accountedasowners’equity | |||||||||||||||
| 4．Other | |||||||||||||||
| （III）Profitallotment | -894,865,021.93 | -894,865,021.93 | -221,675,174.55 | -1,116,540,196.48 | |||||||||||
| 1.Providingofsurplusreserves | |||||||||||||||
| 2.Providingofcommonriskprovisions | |||||||||||||||
| 3．Allotmenttotheowners(orshareholders) | -894,865,021.93 | -894,865,021.93 | -221,675,174.55 | -1,116,540,196.48 | |||||||||||
| 4．Other | |||||||||||||||
| (IV)Internaltransferringofowners’equity | |||||||||||||||
| 1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||||
| 2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||||
| 3．Makinguplossesbysurplusreserves. | |||||||||||||||
| 4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||||
| Items | Thefirsthalfyearof2023 | ||||||||||||||
| Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Sustainabledebt | Other | |||||||||||||
| 5．Othercomprehensiveincomecarry-overretainedearnings | |||||||||||||||
| 6．Other | |||||||||||||||
| (V).Specialreserves | |||||||||||||||
| 1.Providedthisyear | |||||||||||||||
| 2．Usedthisterm | |||||||||||||||
| （VI）Other | -73,970.47 | -73,970.47 | -73,970.47 | ||||||||||||
| IV.Balanceattheendofthisterm | 2,090,806,126 | 743,059,586.56 | 179,248,772.69 | 1,373,056,469.02 | 4,688,808,520.15 | 9,074,979,474.42 | 2,468,348,995.11 | 11,543,328,469.53 | |||||||
8.Statementofchangeinowner’sEquityoftheParentCompanyAmountinthisperiod
InRMB
| Items | Thefirsthalfyearof2024 | |||||||||||
| Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
| Preferredstock | Sustainabledebt | Other | ||||||||||
| I.Balanceattheendoflastyear | 2,090,806,126 | 975,003,604.00 | 163,568,401.33 | 1,340,655,188.78 | 5,156,907,046.00 | 9,726,940,366.11 | ||||||
| Add:Changeofaccountingpolicy | ||||||||||||
| Correctingofpreviouserrors | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofcurrentyear | 2,090,806,126 | 975,003,604.00 | 163,568,401.33 | 1,340,655,188.78 | 5,156,907,046.00 | 9,726,940,366.11 | ||||||
| III.Changedinthecurrentyear | 81,912,988.32 | -112,203,727.34 | -30,290,739.02 | |||||||||
| （I）Totalcomprehensiveincome | 81,912,988.32 | 1,031,467,223.58 | 1,113,380,211.90 | |||||||||
| (II)Investmentordecreasingofcapitalbyowners | ||||||||||||
| 1．OrdinarySharesinvestedbyshareholders | ||||||||||||
| 2．Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
| 3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
| 4．Other | ||||||||||||
| （III）Profitallotment | -1,143,670,950.92 | -1,143,670,950.92 | ||||||||||
| 1.Providingofsurplusreserves | ||||||||||||
| 2．Allotmenttotheowners(orshareholders) | -1,143,670,950.92 | -1,143,670,950.92 | ||||||||||
| Items | Thefirsthalfyearof2024 | |||||||||||
| Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
| Preferredstock | Sustainabledebt | Other | ||||||||||
| 3．Other | ||||||||||||
| (IV)Internaltransferringofowners’equity | ||||||||||||
| 1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||||
| 2.Capitalizingofsurplusreserves(ortocapitalshares) | ||||||||||||
| 3．Makinguplossesbysurplusreserves. | ||||||||||||
| 4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||||
| 5．Othercomprehensiveincomecarry-overretainedearnings | ||||||||||||
| 6．Other | ||||||||||||
| (V)Specialreserves | ||||||||||||
| 1.Providedthisyear | ||||||||||||
| 2．Usedthisterm | ||||||||||||
| （VI）Other | ||||||||||||
| IV.Balanceattheendofthisterm | 2,090,806,126 | 975,003,604.00 | 245,481,389.65 | 1,340,655,188.78 | 5,044,703,318.66 | 9,696,649,627.09 | ||||||
Amountinlastyear
InRMB
| Items | Thefirsthalfyearof2023 | |||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
| Preferredstock | Sustainabledebt | Other | ||||||||||
| I.Balanceattheendoflastyear | 2,090,806,126 | 934,908,293.69 | 170,633,656.67 | 1,193,084,201.46 | 4,723,633,182.06 | 9,113,065,459.88 | ||||||
| Add:Changeofaccountingpolicy | ||||||||||||
| Correctingofpreviouserrors | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofcurrentyear | 2,090,806,126 | 934,908,293.69 | 170,633,656.67 | 1,193,084,201.46 | 4,723,633,182.06 | 9,113,065,459.88 | ||||||
| III.Changedinthecurrentyear | 18,430.04 | 8,615,116.02 | -50,075,059.57 | -41,441,513.51 | ||||||||
| （I）Totalcomprehensiveincome | 8,615,116.02 | 844,789,962.36 | 853,405,078.38 | |||||||||
| (II)Investmentordecreasingofcapitalbyowners | ||||||||||||
| 1．OrdinarySharesinvestedbyshareholders | ||||||||||||
| 2．Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
| 3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
| 4．Other | ||||||||||||
| （III）Profitallotment | -894,865,021.93 | -894,865,021.93 | ||||||||||
| 1.Providingofsurplusreserves | ||||||||||||
| 2．Allotmenttotheowners(orshareholders) | -894,865,021.93 | -894,865,021.93 | ||||||||||
| 3．Other | ||||||||||||
| Items | Thefirsthalfyearof2023 | |||||||||||
| ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
| Preferredstock | Sustainabledebt | Other | ||||||||||
| (IV)Internaltransferringofowners’equity | ||||||||||||
| 1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||||
| 2.Capitalizingofsurplusreserves(ortocapitalshares) | ||||||||||||
| 3．Makinguplossesbysurplusreserves. | ||||||||||||
| 4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||||
| 5．Othercomprehensiveincomecarry-overretainedearnings | ||||||||||||
| 6．Other | ||||||||||||
| (V)Specialreserves | ||||||||||||
| 1.Providedthisyear | ||||||||||||
| 2．Usedthisterm | ||||||||||||
| （VI）Other | 18,430.04 | 18,430.04 | ||||||||||
| IV.Balanceattheendofthisterm | 2,090,806,126 | 934,926,723.73 | 179,248,772.69 | 1,193,084,201.46 | 4,673,558,122.49 | 9,071,623,946.37 | ||||||
III.CompanyProfile
1.BasicinformationoftheIPOandsharecapitalofthecompany
1.TheCompanywasestablishedinFebruary1993,whichwasoriginallynamedasGuangdongFokaiExpresswayCo.,Ltd.OnJune30,1993,itwasrenamedasGuangdongProvincialExpresswayDevelopmentCo.,Ltd.afterreorganizationpursuanttotheapprovaloftheOfficeofJointExaminationGroupofExperimentalUnitsofShareHoldingSystemwithYLSB(1993)No.68document.Thesharecapitalstructureafterreorganizationisasfollows:
Compositionofstate-ownedshares:Theappraisednetvalueofstate-ownedassetsofGuangdongJiujiangBridgeCo.andGuangfoExpresswayCo.,Ltd.asofJanuary31,1993confirmedbyGuangdongState-ownedAssetManagementDept.,i.e.,RMB418.2136million,wasconvertedinto155.025millionshares.GuangdongExpresswayCo.investedcashofRMB115milliontosubscribefor35.9375millionshares.OtherlegalpersonsinvestedcashofRMB286.992milliontosubscribefor89.685millionshares.StaffoftheCompanyinvestedRMB87.008milliontosubscribefor27.19millionshares.ThetotalisRMB307.8375millionshares.2．PursuanttotheapprovalofGuangdongEconomicSystemReformCommitteeandGuangdongSecuritiesRegulatoryCommissionwithYTG(1996)No.67document,partoftheshareholdersofnon-state-ownedlegalpersonsharestransferred20millionnon-state-ownedlegalpersonsharestoMalaysiaYibaoEngineeringCo.,Ltd.inJune1996.
3.PursuanttotheapprovalofSecuritiesCommissionundertheStateCouncilwithWF(1996)No.24approvaldocumentandthatofGuangdongEconomicSystemReformCommitteewithYTG(1996)No.68document,theCompanyissued135milliondomesticallylistedforeigninvestmentshares(Bshares)tooverseasinvestorsatthepriceofHKD3.54(equivalenttoRMB3.8)withtheparvalueofeachsharebeingRMB1duringJunetoJuly1996.
4.PursuanttothereplyoftheMinistryofForeignTradeandEconomicCooperationofthePeople’sRepublicofChinawith(1996)WJMZYHZNo.606document,theCompanywasapprovedtobeaforeign-investedjointstockcompanylimited.5．TheCompanydistributeddividendsandcapitalizedcapitalcommonreservefortheyear1996inthefollowingmanner:TheCompanypaid1.7bonussharesforeach10sharesandcapitalizedcapitalcommonreserveon3.3-for-10basis.
6.PursuanttotheapprovalofChinaSecuritiesRegulatoryCommittee(CSRC)withZJFZ(1997)No.486andNo.487document,theCompanyissued100millionpublicshares(Ashares)atthepriceofRMB5.41intermof“payableinfullonapplication,pro-rateplacingandsubjecttorefund”withtheparvalueofeachsharebeingRMB1inJanuary1998.7．InaccordancewiththeResolutionsofthe1999Shareholders’GeneralMeetingoftheCompanyandpursuanttotheapprovalofGuangzhouSecuritiesRegulatoryOfficeunderCSRCwithGZZJH(2000)No.99andthatofCSRCwithZJGSZ(2000)No.98,theCompanyoffered3Rightsforevery10sharesof764.256249millionsharesatthepriceofRMB11perRight.73,822,250ordinaryshareswereactuallyplacedtoall.
8.PursuanttothereplyoftheGeneralOfficeofthePeople’sGovernmentofGuangdongProvincewithYBH(2000)No.574document,thestate-ownedsharesweretransferredtoGuangdongCommunicationGroupCo.,
Ltd.(GroupCo.)forholdingandmanagementwithoutcompensation.
9.PursuanttotheapprovalofShenzhenStockExchange,53.0205millionstaffsharesoftheCompany(132,722sharesheldbydirectors,supervisorsandseniorexecutivesaretemporarilyfrozen)werelistedonFebruary5,2001.
10.Inaccordancewiththeresolutionsof2000annualshareholders’generalmeeting,theCompanycapitalizedcapitalcommonreserveinto419,039,249shareson5-for-10basiswiththetotalsharecapitalasoftheendof2000,i.e.,838,078,499sharesasbase.ThedateofstockrightregistrationwasMay21,2001.Theex-rightdatewasMay22,2001.11．OnMarch8,2004,AsapprovedbyChinaSecuritiesRegulatoryCommissionbydocumentZheng-Jian-Gong-Si-Zi[2003]No.3,the45,000,000non-negotiableforeignshareswereplacedinShenzhenStock
12.OnDecember21,2005,theCompany'splanforshareholdingstructurereformwasvotedthroughattheshareholders'meetingconcerningAshares.OnJanuary262006,TheMinistryofCommerceofPRCissued“TheapprovalonshareconvertingofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.”toapprovetheshareequityrelocationandtransformation.OnOctober92006,accordingtothe“Circularaboutimplementingofshareequityrelocationandrelativetrading”issuedbyShenzhenStockExchange,theabbreviationIDoftheCompany’sAshareswasrestoredfrom“G-Expressway”“ExpresswayA”.
13.UpontheapprovaldocumentofCSRCNo.230-2016ZhengJianXuke-ApprovaloftheShare-IssuingtoPartiessuchasGuangdongProvincialExpresswayCo.,LtdtoPurchaseAssetsandRaiseMatchingFundsbyGuangdongProvincialExpresswayDevelopmentCo.,Ltd,inJune2016thecompanyissued33,355,263sharesandpaidRMB803.50milliontoGuangdongProvincialExpresswayCo.,Ltdforpurchasingthe25%stakeofGuangdongProvincialFokaiExpresswayCo.,LtdheldbyGuangdongProvincialExpresswayCo.,Ltd;andissued466,325,020sharestoGuangdongProvincialHighwayConstructionCo.,Ltdforpurchasingthe100%stakeofGuangzhouGuangzhuTrafficInvestmentManagementCo.,LtdheldbyGuangdongProvincialHighwayConstructionCo.,Ltd.OnJune21,2016,thecompanydirectionallyissued334,008,095A-sharestoYadongFuxingYalianInvestmentCo.,Ltd,TibetYinyueInvestmentManagementCo.,LtdandGuangfaSecuritiesCo.,Ltd.TheissuanceofshareshavebeenregisteredonJuly7,2016,thenewshareswillbelistedonJuly8,2016.
2.Company'sregisteredplaceandheadquartersaddressRegistrationplaceNo.85,BaiyunRoad,YuexiuDistrict,Guangzhou.
HeadquartersOffice：45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TiheDisrtict,Guangzhou
3.BusinessnatureandmainbusinessactivitiesIndustryandmainproductsofthecompany:highwaymanagementandmaintenance.Generalbusinessitems:investment,construction,charging,maintenanceandservicemanagementofexpressways,graderoadsandbridges;Automobilerescueservice,maintenanceandcleaning;Parkinglotcharges;Design,production,releaseandagencyofallkindsofadvertisementsathomeandabroad;Landdevelopmentalongthehighway;Warehousingbusiness;Intelligenttransportationtechnologyresearchanddevelopmentandservice;Equityinvestment,managementandconsultation.(Projectsthatmustbeapprovedaccordingtolawcanbeoperatedonlyafterbeingapprovedbyrelevantdepartments).TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,Jingzhu
ExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultaionwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangdongJiangzhongExpresswayCo.Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuepuTechnologyPettyLoanCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd,HunanLianzhiTechnologyCo.,Ltd.andSPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.
4.Scopeandchangesofconsolidatedfinancialstatementsinthecurrentperiod
(1)ScopeofcurrentconsolidatedfinancialstatementsTheconsolidatedscopeofthecurrentfinancialstatementsinvovlesGuangdongExpresswayTechnologyInvestmentCo.,Ltd.,YuegaoCapitalHolding(Guangzhou)Co.,Ltd.,itsholdingsubsidiariesGuangfoExpresswayCo.,Ltd.,JingzhuExpresswayGuangzhuSectionCo.,Ltd.andGuanghuiExpresswayCo.,Ltd.
(2)ChangesinthescopeofconsolidatedfinancialstatementsinthecurrentperiodNone.
5.ApprovalandsubmissiondateoffinancialreportThefinancialstatementshavebeenauthorizedforissuanceoftheBoardofDirectorsoftheCompanyonAugust29,2024.IV.Basisforthepreparationoffinancialstatements
1.PreparationbasisThefinancialstatementsoftheCompanyhavebeenpreparedonbasisofgoingconcerninconformitywithChineseAccountingStandardsforBusinessEnterprisesandtheAccountingSystemsforBusinessEnterprisesissuedbytheMinistryofFinanceofPeople’sRepublicofChina(MinistryofFinanceissuedorderNo.33,theMinistryofFinancerevisedorderNo.76)onFebruary15,2006,andrevisedAccountingStandards(order42oftheMinistryofFinance)andCompilationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15–GeneralProvisionsonFinancialReports(2023Revision)issuedbytheChinaSecuritiesRegulatoryCommission(CSRC).AccordingtotherelevantaccountingregulationsinChineseAccountingStandardsforBusinessEnterprises,theCompanyhasadoptedtheaccrualbasisofaccounting.Held-for-salenon-currentassetsaremeasuredatthelowerofitsbookvalueatitsclassificationdateandfairvalueminusexpecteddisposalcosts.Whereassetsareimpaired,provisionsforassetimpairmentaremadeinaccordancewithrelevantrequirements
2.ContinuationTherewillbenosucheventsorsituationsinthe12monthsfromtheendofthereportingperiodthatwillcausematerialdoubtsastothecontinuationcapabilityoftheCompany.
V.SignificantAccountingPoliciesandAccountingEstimates
1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementsoftheCompanyarerecognizedandmeasuredinaccordancewiththeregulationsintheChineseAccountingStandardsforBusinessEnterprisesandtheygiveatrueandfairviewofthefinancialposition,businessresultandcashflowoftheCompany.
2.AccountingperiodTheaccountingperiodoftheCompanyisthecalendaryearfromJanuary1toDecember31.
3.OperatingcycleThenormaloperatingcyclereferstotheperiodfromthetimewhentheGrouppurchasesassetsforprocessingtothetimewhencashorcashequivalentsarerealized.TheCompanytakes12monthsasabusinesscycleandusesitasacriterionforliquidityclassificationofassetsandliabilities.
4.StandardcurrencyforbookkeepingTheCompanyadoptsCNYtoprepareitsfunctionalstatements.
5.AccountingsforBusinessCombinationsundertheSameControl&BusinessCombinationsnotundertheSameControl
1.BusinessCombinationsundertheSameControlIfbusinessparticipatinginthecombinationareultimatelycontrolledbythesamepartyorpartiesbeforeandafterthecombination,andthecontrolisnottemporary,itisanbusinesscombinationunderthesamecontrol.Usually,businesscombinationunderthesamecontrolreferstothecombinationbetweenbusinesswithinthesamebusiness,exceptwhichitisgenerallynotregardedasbusinesscombinationunderthesamecontrol.TheassetsandliabilitiesobtainedbytheCompanyasthecombiningpartyinthebusinesscombinationshallbemeasuredaccordingtothebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthecombinationdate.Forthelong-termequityinvestmentformedbyholdingcombinationunderthesamecontrol,thecompanytakestheshareofthebookowner'sequityofthecombinedpartyonthecombinationdateastheinitialinvestmentcostforformingthelong-termequityinvestment.Seethelong-termequityinvestmentforrelevantaccountingtreatment;TheassetsandliabilitiesobtainedbyabsorptionandcombinationunderthesamecontrolshallberecordedbytheCompanyaccordingtotheoriginalbookvalueoftherelatedassetsandliabilitiesinthecombinedparty.Thecompanyadjuststhecapitalreserveaccordingtothedifferencebetweenthebookvalueofthenetassetsobtainedandthebookvalueofthecombinationconsiderationpaid(orthetotalparvalueoftheissuedshares);Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.AlldirectlyrelatedexpensesincurredbytheCompanyasacombiningpartyforbusinesscombination,includingauditfees,evaluationfees,legalservicefees,etc.,areincludedinthecurrentprofitsandlosseswhenincurred.Feesandcommissionspaidforbondsissuedbyenterprisesorotherdebtsshallbeincludedintheinitialmeasurementamountofbondsandotherdebtsissued.Fees,commissionsandotherexpensesincurredinissuing
equitysecuritiesinbusinesscombinationshallbeoffsetagainstthepremiumincomeofequitysecurities,andifthepremiumincomeisinsufficienttooffset,theretainedearningsshallbeoffset.Iftheholdingunderthesamecontroliscombinedtoformaparent-subsidiaryrelationship,theparentcompanyshallprepareconsolidatedfinancialstatementsontheconsolidationdate,includingconsolidatedbalancesheet,consolidatedincomestatementandconsolidatedcashflowstatement.Fortheconsolidatedbalancesheet,thebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallbeincorporatedintotheconsolidatedfinancialstatements,andthetransactionsbetweenthecombiningpartyandthecombinedpartyontheconsolidationdateandthepreviousperiodshallberegardedasinternaltransactionsandoffsetaccordingtotherelevantprinciplesof"ConsolidatedFinancialStatements";Theconsolidatedincomestatementandcashflowstatementincludethenetprofitandcashflowrealizedbythecombiningpartyandthecombinedpartyfromthebeginningofthecurrentconsolidationperiodtotheconsolidationdate,andinvolvethecashflowgeneratedbythetransactionsandinternaltransactionsbetweenthetwopartiesinthecurrentperiod,whichshallbeoffsetaccordingtotherelevantprinciplesoftheconsolidatedfinancialstatements.
2.Ifthepartiesinvolvedinthecombinationarenotultimatelycontrolledbythesamepartyorpartiesbeforeandafterthecombination,itisabusinesscombinationnotunderthesamecontrol.BusinessCombinationsnotundertheSameControlDeterminethecostofbusinesscombination:thecostofbusinesscombinationincludesthefairvalueofcashornon-cashassetspaidbythepurchaserforbusinesscombination,debtsissuedorassumed,andequitysecuritiesissuedonthepurchasedate.Inthebusinesscombinationnotunderthesamecontrol,theintermediaryexpensessuchasauditing,legalservices,evaluationandconsultationandotherrelatedmanagementexpensesincurredbythepurchaserforthebusinesscombinationshallbeincludedinthecurrentprofitsandlosseswhentheyoccur;Transactioncostsofequitysecuritiesordebtsecuritiesissuedbythepurchaserascombinationconsiderationshallbeincludedintheinitialrecognizedamountofequitysecuritiesordebtsecurities.Forthelong-termequityinvestmentobtainedbyholdingcombinationnotunderthesamecontrol,thecompanytakesthecombinationcostdeterminedonthepurchasedate(excludingcashdividendsandprofitsthatshouldbecollectedfromtheinvestee)astheinitialinvestmentcostforthelong-termequityinvestmentofthepurchaser;Allidentifiableassetsandliabilitiesobtainedbyabsorptionandcombinationunderdifferentcontrolthatmeettherecognitionconditionsshallberecognizedasassetsandliabilitiesoftheenterpriseatfairvalueonthedateofpurchase.IftheCompanytakesnon-monetaryassetsasconsiderationtoobtainthecontrolrightofthepurchaserorvariousidentifiableassetsandliabilities,thedifferencebetweenthefairvalueoftherelevantnon-monetaryassetsonthepurchasedateandtheirbookvalueshallbetakenasthedisposalprofitandlossoftheassetsandrecordedintheincomestatementofthecurrentconsolidationperiod.Inabusinesscombinationnotunderthesamecontrol,thedifferencebetweenthecostofbusinesscombinationandthefairvalueshareofidentifiablenetassetsofthepurchaserobtainedinthecombinationisrecognizedas
goodwill;Inthecaseofabsorptionandcombination,thedifferenceisrecognizedasgoodwillintheindividualfinancialstatementsoftheparentcompany;Inthecaseofholdingcombination,thedifferenceislistedasgoodwillintheconsolidatedfinancialstatements.Thecostofbusinesscombinationislessthanthedifferencebetweenthefairvalueshareofidentifiablenetassetsacquiredduringthecombination,whichisincludedintheprofitsandlosses(non-operatingincome)ofthecurrentcombinationperiodafterreviewbytheCompany.Inthecaseofabsorptionandcombination,thedifferenceisincludedintheindividualincomestatementoftheparentcompanyinthecurrentcombinationperiod;Inthecaseofholdingcombination,thedifferenceisincludedintheconsolidatedincomestatementofthecurrentcombinationperiod.Ifthebusinesscombinationnotunderthesamecontrolrealizedstepbystepthroughmultipleexchangetransactionsisapackagetransaction,eachtransactionwillbetreatedasatransactiontoobtaincontrolrights;Ifitisnotapackagetransaction,theequityofthepurchasedpartyheldbeforethepurchasedateshallbere-measuredaccordingtothefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome;Iftheequityofthepurchasedpartyheldbeforethepurchasedateinvolvesothercomprehensiveincome,othercomprehensiveincomerelatedtoitshallbeconvertedintotheinvestmentincomeofthecurrentperiodonthepurchasedate,exceptforothercomprehensiveincomearisingfromthere-measurementofnetliabilitiesorchangesinnetassetsofthedefinedbenefitplansbytheinvestedparty.
6.CriteriaforControlandPreparationMethodofConsolidatedFinancialStatements
(1)CriteriaforcontrolTheconsolidationscopeofconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.ControlmeansthattheCompanyhasthepowerovertheinvestee,isentitledtovariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoinfluenceitsreturnamount.SubsidiariesrefertosubjectscontrolledbytheCompany(includingenterprises,divisiblepartsofinvestee(s),structuredsubjects,etc.).
(2)CompilationmethodofconsolidatedfinancialstatementsTheconsolidatedfinancialstatementsoftheCompanyarebasedonthefinancialstatementsoftheparentcompanyanditssubsidiaries,andarepreparedaccordingtootherrelevantinformation.Whencompiling,theimportantinternaltransactionsbetweentheparentcompanyanditssubsidiaries,suchasinvestment,transactions,purchaseandsaleofinventoriesandtheirunrealizedprofits,areoffsetandcombineditembyitem,andtheminorityshareholders'rightsandinterestsandthecurrentincomeofminorityshareholdersarecalculated.Iftheaccountingpoliciesandaccountingperiodsofsubsidiariesareinconsistentwiththoseoftheparentcompany,theaccountingstatementsofsubsidiariesshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheparentcompanybeforecombination.
(3)IncreaseanddecreasetheconsolidatedreportprocessingofsubsidiariesduringthereportingperiodDuringthereportingperiod,whenpreparingtheconsolidatedbalancesheet,thebalanceatthebeginningoftheconsolidatedbalancesheetisadjustedforthesubsidiariesaddedduetobusinesscombinationunderthesame
control.Whenpreparingtheconsolidatedbalancesheet,thebalanceatthebeginningoftheyearoftheconsolidatedbalancesheetisnotadjustedforthesubsidiariesaddedduetobusinesscombinationnotunderthesamecontrol.Duringthereportingperiod,thesubsidiariesaredisposedofandthebalanceatthebeginningoftheconsolidatedbalancesheetisnotadjustedwhentheconsolidatedbalancesheetisprepared.Duringthereportingperiod,theincome,expensesandprofitsofsubsidiariesaddedbybusinesscombinationunderthesamecontrolfromthebeginningtotheendofthereportingperiodareincludedintheconsolidatedincomestatement,andthecashflowsfromthebeginningtotheendofthereportingperiodareincludedintheconsolidatedcashflowstatement.Forsubsidiariesaddedduetobusinesscombinationnotunderthesamecontrol,theincome,expensesandprofitsofsuchsubsidiariesfromthepurchasedatetotheendofthereportingperiodareincludedintheconsolidatedincomestatement,andtheircashflowfromthepurchasedatetotheendofthereportingperiodisincludedintheconsolidatedcashflowstatement.Duringthereportingperiod,thesubsidiaryisdisposedof,andtheincome,expensesandprofitsfromthebeginningoftheperiodtothedisposaldateareincludedintheconsolidatedincomestatement,andthecashflowfromthebeginningoftheperiodtothedisposaldateisincludedintheconsolidatedcashflowstatement.Whenthecontrolrightoftheoriginalsubsidiaryislostduetothedisposalofpartoftheequityinvestmentorotherreasons,theremainingequityinvestmentafterdisposalshallbere-measuredaccordingtoitsfairvalueonthedateoflossofcontrolright.Thesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequity,minusthedifferencebetweentheshareoftheoriginalsubsidiary'snetassetscalculatedcontinuouslyfromthepurchasedateandthesumofgoodwillcalculatedaccordingtotheoriginalshareholdingratio,isincludedintheinvestmentincomeinthecurrentperiodwhenthecontrolrightislost.Othercomprehensiveincomerelatedtotheoriginalsubsidiary'sequityinvestmentisconvertedintocurrentinvestmentincomewhenthecontrolrightislost,exceptforothercomprehensiveincomegeneratedbytheinvestee'sre-measurementofnetliabilitiesorchangesinnetassetsofthesetincomeplan.Thedifferencebetweenthenewlyacquiredlong-termequityinvestmentduetothepurchaseofminoritysharesandtheidentifiablenetassetsshareofsubsidiariescalculatedaccordingtotheincreasedshareholdingratio,andthedifferencebetweenthedisposalpriceobtainedfrompartialdisposalofequityinvestmentinsubsidiariesandthenetassetsshareofsubsidiariescorrespondingtothedisposaloflong-termequityinvestmentareusedtoadjusttheequitypremiuminthecapitalreserveintheconsolidatedbalancesheet.Iftheequitypremiuminthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted.
(4)Processingofconsolidatedstatementsfromstep-by-stepdisposalofequitytolossofcontrolrightsIfthetransactionsthatdisposeoftheequityinvestmentinsubsidiariesuntilthelossofcontrolrightsareofapackagetransaction,thetransactionsshallbetreatedastransactionsthatdisposeofsubsidiariesandlosecontrolrights;However,thedifferencebetweenthedisposalpriceandtheshareofthesubsidiary'snetassetsrelatedtothedisposalinvestmentbeforethelossofcontrolrightisrecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,whichwillbetransferredtothecurrentprofitandlosswhenthecontrolrightislost,exceptforothercomprehensiveincomearisingfromthere-measurementofthenetliabilitiesorchangesinnetassetsofthesetincomeplanbytheinvestee.Ifitisnotapackagetransaction,beforethelossofcontrol,thedifferencebetweenthedisposalpriceandthecorrespondingnetassetscontinuouslycalculatedbythesubsidiaryfromthepurchasedatewillbeadjustedtothecapitalreserve,andifthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted;Incaseoflossofcontrolright,theaccountingtreatmentshallbecarriedoutaccordingtotheaboveaccountingpolicywhenthecontrolrightovertheoriginalsubsidiaryislost.
7.RecognitionStandardofCash&CashEquivalentsCashandcashequivalentsoftheCompanyincludecashonhand,readyusabledepositsandinvestmentshavingshortholdingterm(normallywillbeduewithinthreemonthsfromthedayofpurchase),withstrongliquidityandeasytobeexchangedintocertainamountofcashthatcanbemeasuredreliablyandhavelowrisksofchange.
8.ForeignCurrencyTransaction
(1)ForeigncurrencybusinessForeigncurrencytransactionsoftheCompanyareconvertedintotheamountofbookkeepingbasecurrencyaccordingtothespotrateonthetransactiondate.Onthebalancesheetdate,foreigncurrencymonetaryitemsandforeigncurrencynon-monetaryitemsshallbetreatedaccordingtothefollowingprovisions:foreigncurrencymonetaryitemsshallbeconvertedatthespotrateonthebalancesheetdate.Exchangedifferencesarisingfromthedifferencebetweenthespotrateonthebalancesheetdateandthespotrateatthetimeofinitialrecognitionorthepreviousbalancesheetdateareincludedinthecurrentprofitsandlosses;Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestillconvertedatthespotrateonthetransactiondate,withoutchangingtheirbookkeepingbasecurrencyamount;Foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbeconvertedatthespotrateonthefairvaluedeterminationdate,andthedifferencebetweentheconvertedbookkeepingbasecurrencyamountandtheoriginalbookkeepingbasecurrencyamountshallbetreatedaschangesinfairvalue(includingexchangeratechanges)andincludedinthecurrentprofitsandlosses;Duringthecapitalizationperiod,theexchangedifferencebetweentheprincipalandinterestofforeigncurrencyspecialloansiscapitalizedandincludedinthecostofassetsthatmeetthecapitalizationconditions.
(2)TranslationofforeigncurrencyfinancialstatementsWhenconvertingforeigncurrencyfinancialstatements,theCompanyshallcomplywiththefollowingregulations:
assetsandliabilitiesinthebalancesheetshallbeconvertedatthespotrateonthebalancesheetdate,andotheritemsofowner'sequityexcept"undistributedprofits"shallbeconvertedatthespotrateatthetimeofoccurrence;Theincomeandexpenseitemsintheincomestatementshallbeconvertedatthespotrateonthetransactiondate(orattheexchangeratedeterminedbyasystematicandreasonablemethodandsimilartothespotrateonthetransactiondate).Thetranslationdifferenceofforeigncurrencyfinancialstatementsgeneratedaccordingtotheabovetranslationisrecognizedasothercomprehensiveincome.Theconversionofcomparativefinancialstatementsshallbehandledaccordingtotheaboveprovisions.
9.FinancialinstrumentsTheCompanyrecognizesthefinancialassetsorliabilitieswheninvolvedinfinancialinstruments’agreements.
（1）Classification,recognitionandmeasurementoffinancialassetsInaccordancewiththecharacteristicsofbusinessmodelformanagingfinancialassetsandthecontractualcashflowoffinancialassets,theCompanyclassifiesfinancialassetsinto:financialassetsmeasuredinamortizedcost;financialassetsmeasuredatfairvalueandtheir'schangesareincludedinothercomprehensiveincome;financialassetsmeasuredatfairvalueandtheir'schangesareincludedincurrentprofitsandlosses.Theinitialmeasurementoffinancialassetsiscalculatedbyusingfairvalue.Forfinancialassetsmeasuredatfairvalue,whosechangesareincludedincurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedin
currentprofitsandlosses;Forothertypesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.
①FinancialassetsmeasuredatamortizedcostThebusinessmodeloftheCompany'smanagementoffinancialassetsmeasuredbyamortizedcostisaimedatcollectingthecontractualcashflow,andthecontractualcashflowcharacteristicsofsuchfinancialassetsareconsistentwiththebasiclendingarrangements,thatis,thecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.Forsuchfinancialassets,theCompanyadoptsthemethodofrealinterestrateandmakessubsequentmeasurementaccordingtothecostofamortization.Theprofitsorlossesresultingfromamortizationorimpairmentareincludedincurrentprofitsandlosses.
②FinancialassetsmeasuredatfairvalueandchangesincludedinothercomprehensiveincomeTheCompany'sbusinessmodelformanagingsuchfinancialassetsistocollectthecontractualcashflow,andthecontractualcashflowcharacteristicsofsuchfinancialassetsareconsistentwiththebasiclendingarrangements.TheCompanymeasuressuchfinancialassetsatfairvalueandtheirchangesareincludedinothercomprehensivegains,butimpairmentlossesorgains,exchangegainsandlossesandinterestincomecalculatedaccordingtotheactualinterestratemethodareincludedincurrentprofitsandlosses.Inaddition,theCompanydesignatedsomenon-tradingequityinstrumentinvestmentsasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.TheCompanyincludestherelevantdividendincomeofsuchfinancialassetsincurrentprofitsandlosses,andthechangesinfairvalueinothercomprehensivegains.Whenthefinancialassetceasestoberecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensivegainsshallbetransferredintoretainedincomefromothercomprehensiveincome,andnotbeincludedincurrentprofitandloss.
③FinancialassetsmeasuredatfairvalueandchangesincludedincurrentprofitsandlossesTheCompanyincludestheabove-mentionedfinancialassetsmeasuredatamortizedcostandthosemeasuredatfairvalueandtheir'schangesinfinancialassetsotherthanfinancialassetsofcomprehensiveincomeandclassifiesthemasfinancialassetsmeasuredatfairvalueandtheir'schangesthatareincludedincurrentprofitsandlosses.Inaddition,theCompanydesignatessomefinancialassetsasfinancialassetsmeasuredatfairvalueandincludestheirchangesincurrentprofitsandlossesinordertoeliminateorsignificantlyreduceaccountingmismatchesduringinitialrecognition.Inregardwithsuchfinancialassets,theCompanyadoptsfairvalueforsubsequentmeasurement,andincludeschangesinfairvalueintocurrentprofitsandlosses.
（2）Classification,recognitionandmeasurementoffinancialliabilitiesTheGroup’sfinancialliabilitiesare,oninitialrecognition,classifiedintofinancialliabilitiesatfairvaluethroughprofitorlossandotherfinancialliabilities.Forfinancialliabilitiesatfairvaluethroughprofitorloss,relevanttransactioncostsareimmediatelyrecognizedinprofitorlossforthecurrentperiod,andtransactioncostsrelatingtootherfinancialliabilitiesareincludedintheinitialrecognitionamounts.
①FinancialliabilitiesmeasuredbythefairvalueandthechangesrecordedinprofitorlossTheclassificationbywhichfinancialliabilitiesheld-for-tradeandfinancialliabilitiesdesignedattheinitialrecognitiontobemeasuredbythefairvaluefollowsthesamecriteriaastheclassificationbywhichfinancialassetsheld-for-tradeandfinancialassetsdesignedattheinitialrecognitiontobemeasuredbythefairvalueand
theirchangesarerecordedinthecurrentprofitorlossTransactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)aresubsequentlymeasuredaccordingtofairvalue.Exceptforhedgingaccounting,changesinfairvalueareincludedincurrentprofitsandlosses.Financialliabilitiesdesignatedasfinancialliabilitiesthataremeasuredatfairvalueandtheir'schangesareincludedincurrentprofitsandlosses.TheliabilitiesareincludedinothercomprehensivegainsduetochangesinfairvaluecausedbychangesintheCompany'sowncreditrisk,andwhentheliabilitiesareterminated,thechangesinfairvaluecausedbychangesinitsowncreditriskofothercomprehensivegainsareincludedinthecumulativechangesinitsfairvaluecausedbychangesinitsowncreditriskofothercomprehensivegains.Theamountistransferredtoretainedearnings.Theremainingchangesinfairvalueareincludedincurrentprofitsandlosses.Iftheabove-mentionedwayofdealingwiththeimpactofthechangesinthecreditriskofsuchfinancialliabilitieswillresultinorexpandtheaccountingmismatchintheprofitsandlosses,theCompanyshallincludealltheprofitsorlossesofsuchfinancialliabilities(includingtheamountoftheimpactofthechangesinthecreditriskoftheenterpriseitself)intothecurrentprofitsandlosses.
②OtherfinancialliabilitiesInadditiontothetransferofafinancialassetisnotinconformitywiththeconditionstostoptherecognitionorformedbyitscontinuousinvolvementinthetransferredfinancialasset,financialliabilitiesandfinancialguaranteecontractofotherfinancialliabilitiesclassifiedasfinancialliabilitiesmeasuredattheamortizedcost,measuredattheamortizedcostforsubsequentmeasurement,recognitionhasbeenstoppedoramortizationoftheprofitorlossisincludedinthecurrentprofitsandlosses.
(3)RecognitionbasisandmeasurementmethodsfortransferoffinancialassetsFinancialassetssatisfyingoneofthefollowingconditionsshallbeterminatedandrecognized:①Thecontractualrighttocollectthecashflowofthefinancialassetisterminated;②Thefinancialassethasbeentransferred,andalmostalltherisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee;
③Thefinancialassethasbeentransferred,althoughtheenterpriseneithertransfersnorretainsalmostalltherisksandrewardsintheownershipofthefinancialasset,butitabandonedcontrolofthefinancialassets.Incasethattheenterprisedoesnottransferorretainalmostallrisksandrewardsonfinancialassetsownershipnorwaivetocontroltheseassets,relevantfinancialassetsshallberecognizedinaccordancewiththedegreeforcontinuedinvolvementoffinancialassetstransferredandrelevantliabilitiesshallberecognizedcorrespondingly.westbankTheterm"continuousinvolvementinthetransferredfinancialasset"shallrefertotherisklevelthattheenterprisefacesresultingfromthechangeofthevalueofthefinancialasset.Iftheoveralltransferofthefinancialassetssatisfiesthederecognitioncriteria,thedifferencebetweenthebookvalueofthetransferredfinancialassetsandthesumoftheconsiderationreceivedfromtransferandcumulativechangeinfairvaluepreviouslyrecognizedinothercomprehensiveincomeisaccountedintothecurrentprofitorloss.Incasethatthepartialtransferoffinancialassetsmeetsde-recognitionconditions,thebookvalueoffinancialassetstransferredshallbeallocatedasperrespectivefairvaluebetweende-recognizedornotde-recognizedparts,andthedifferencebetweenthesumoftheconsiderationreceivedduetotransferwiththeaccumulatedamountoffairvaluechangesthatispreviouslyincludedinothercomprehensiveincomeandshallbeallocatedtode-recognizedpartsandtheaforesaidbookamountallocatedshallbeincludedinthecurrentprofitorloss.
TheCompanyshalldeterminewhetheralmostalltherisksandrewardsoftheownershipofthefinancialassetssoldbymeansofrecourseorendorsedtotransferthefinancialassetsitholdshavebeentransferred.Ifalmostalltherisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee,theconfirmationofthefinancialassetshallbeterminated;ifalmostalltherisksandrewardsintheownershipofthefinancialassethavebeenretained,theconfirmationofthefinancialassetshallnotbeterminated;ifneitherthetransfernortheretentionofalmostalltherisksandrewardsintheownershipofthefinancialassethasbeenmade.Incaseofremuneration,itshallcontinuetodeterminewhethertheenterprisehasretainedcontrolovertheassetsandconductaccountingtreatmentinaccordancewiththeprinciplesdescribedintheprecedingparagraphs.
(4)TerminationconfirmationoffinancialliabilitiesIfthecurrentobligationofafinancialliability(orpartthereof)hasbeendischarged,theCompanyshallterminatetherecognitionofthefinancialliability(orpartthereof).IftheCompany(thedebtor)signsanagreementwiththelendertoreplacetheoriginalfinancialliabilitiesbyassumingnewfinancialliabilities,andthecontracttermsofthenewfinancialliabilitiesaresubstantiallydifferentfromthoseoftheoriginalfinancialliabilities,itshallterminatetherecognitionoftheoriginalfinancialliabilitiesandatthesametimeconfirmanewfinancialliabilities.IftheCompanysubstantiallyamendsthecontracttermsoftheoriginalfinancialliabilities(orpartthereof),itshallterminatetheconfirmationoftheoriginalfinancialliabilitiesandatthesametimeconfirmanewfinancialliabilitiesinaccordancewiththerevisedterms.Ifthefinancialliabilities(orpartthereof)areterminated,thedifferencebetweentheirbookvalueandtheconsiderationpaid(includingthetransferrednon-cashassetsorliabilitiesassumed)shallbeincludedintheprofitsandlossesofthecurrentperiod.
（5）OffsettingfinancialassetsandfinancialliabilitiesWhentheCompanyhasalegalrightthatiscurrentlyenforceabletosetofftherecognizedfinancialassetsandfinancialliabilities,andintendseithertosettleonanetbasis,ortorealizethefinancialassetandsettlethefinancialliabilitysimultaneously,afinancialassetandafinancialliabilityshallbeoffsetandthenetamountispresentedinthebalancesheet.Exceptfortheabovecircumstances,financialassetsandfinancialliabilitiesshallbepresentedseparatelyinthebalancesheetandshallnotbeoffset.
(6)MethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiesFairvaluereferstothepricethatamarketparticipantmustpaytosellortransferaliabilityinanorderlytransactionthatoccursonthemeasurementdate.ThefairvalueoffinancialinstrumentsexistinginanactivemarketisdeterminedbytheCompanyaccordingtoitsquotedpriceinthismarket.westbankThequotedpricesintheactivemarketrefertotheprices,whichareeasilyavailablefromthestockexchanges,brokers,industryassociations,pricingserviceinstitutionsandetc.atafixedterm,andwhichrepresentthepricesatwhichactuallyoccurredmarkettransactionsaremadeunderfairconditions.?¨Incanafinancialinstrumentdoesnotexistinactivemarkets,itsfairvalueshallbedeterminedbytheCompanywithassessmenttechniques.Thevalueappraisaltechniquesmainlyincludethepricesadoptedbytheparties,whoarefamiliarwiththecondition,inthelatestmarkettransactionupontheirownfreewill,thecurrentfairvalueobtainedbyreferringtootherfinancialinstrumentsofthesameessentialnature,thecashflowcapitalizationmethodandtheoptionpricingmodel,etc.Invaluation,theCompanyadoptsvaluationtechniquesthatareapplicableinthecurrentsituationandsupportedbysufficientdataandotherinformationtoselectinputvaluesconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsinthetransactionsofrelatedassetsorliabilities,andgiveprioritytotheuseofrelevantobservableinputvaluesasfaraspossible.Unallowablevaluesareusediftherelevantobservableinput
valuesarenotavailableorarenotpracticable.
（7）EquityinstrumentsAnequityinstrumentisanycontractthatevidencesaresidualinterestintheassetsoftheCompanyafterdeductingallofitsliabilities.Theconsiderationreceivedfromissuingequityinstruments,netoftransactioncosts,areaddedtoshareholders’equity.Alltypesofdistribution(excludingstockdividends)madebytheCompanytoholdersofequityinstrumentsaredeductedfromshareholders’equity.Thedividends(including"interest"generatedbythetoolsclassifiedasequityinstruments)distributedbytheCompany'sequityinstrumentsduringtheperiodoftheirexistenceshallbetreatedasprofitdistribution.
10.ImpairmentoffinancialinstrumentsTheCompanyrequirestoconfirmthatthefinancialassetslostbyimpairmentarefinancialassetsmeasuredbyamortizedcost,investmentindebtinstrumentsandleasereceivableswhicharemeasuredatfairvalueandwhosechangesareincludedinothercomprehensivegains,mainlyincludingnotesreceivable,accountsreceivable,otherreceivables,creditor'srightsinvestment,othercreditor'srightsinvestmentandlong-termreceivablesandetc.Inaddition,provisionforimpairmentandconfirmationofcreditimpairmentlossesarealsomadeforcontractassetsandsomefinancialguaranteecontractsinaccordancewiththeaccountingpoliciesdescribedinthissection.
(1)MethodofconfirmingimpairmentprovisionBasedonanticipatedcreditloss,theCompanycalculatesimpairmentpreparationandconfirmscreditimpairmentlossaccordingtotheapplicableanticipatedcreditlossmeasurementmethod(generalmethodorsimplifiedmethod).Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedaccordingtotheoriginalrealinterestrateandtheexpectedcashflowofallcontractsreceivableaccordingtothecontract,thatis,thepresentvalueofallcashshortages.Amongthem,theCompanydiscountsthefinancialassetspurchasedororiginatedwithcreditimpairmentattheactualinterestrateadjustedbycredit.ThegeneralmethodofmeasuringanticipatedcreditlossiswhetherthecreditriskoftheCompany'sfinancialassets(includingotherapplicableitemssuchascontractassets,similarlyhereinafter)hasincreasedsignificantlysincetheinitialrecognitiononeachbalancesheetday.Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.Ifthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlossinthenext12months.TheCompanyshallconsiderallreasonableandevidencedinformation,includingforward-lookinginformation,whenevaluatingexpectedcreditlosses.Assumingthattheircreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanymaychoosetomeasurethelossreserveaccordingtotheexpectedcreditlossinthenext12monthsforfinancialinstrumentswithlowcreditriskonthebalancesheetdate.
(2)CriteriaforjudgingwhethercreditriskhasincreasedsignificantlysincetheinitialrecognitionIftheprobabilityofdefaultofafinancialassetontheestimateddurationofthebalancesheetissignificantlyhigherthantheprobabilityofdefaultduringtheestimateddurationoftheinitialrecognition,thecreditriskofthefinancialassetissignificantlyincreased.Exceptforspecialcircumstances,theCompanyusesthechangeof
defaultriskinthenext12monthsasareasonableestimateofthechangeofdefaultriskintheentiredurationtodeterminewhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
(3)Aportfolio-basedapproachtoassessingexpectedcreditriskTheCompanyshallevaluatethecreditriskoffinancialassetswithdistinctdifferencesincreditrisk,suchastherelatedparty'sreceivables,thereceivablesindisputewiththeotherpartyorinvolvinglitigationandarbitration,andreceivablesthathasbeenprovedthatthedebtormaynotbeabletofulfilltheobligationofrepayment,etc.Inadditiontothefinancialassetsthatassesscreditriskindividually,theCompanyshalldividefinancialassetsintodifferentgroupsbasedoncommonriskcharacteristics,andassesscreditriskonthebasisofportfolio.
(4)AccountingtreatmentofimpairmentoffinancialassetsAttheendoftheduration,theCompanyshallcalculatetheanticipatedcreditlossesofvariousfinancialassets.Iftheanticipatedcreditlossesaregreaterthanthebookvalueofitscurrentimpairmentprovision,thedifferenceisdeemedasimpairmentloss.Ifthebalanceislessthanthebookvalueofthecurrentimpairmentprovision,thedifferenceisdeemedasimpairmentprofit.
(5)MethodofdeterminingcreditlossesofvariousfinancialassetsInregardtoreceivableswithoutsignificantfinancingcomponents,theCompanyshallmeasurelosspreparationaccordingtotheamountofanticipatedcreditlossequivalenttotheentireduration.Inadditiontotheaccountsreceivablethatassessesthecreditriskindividually,receivablesaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
①Basisfordeterminingthecombinationofcreditriskcharacteristics
| Items | Basisfordeterminingtheportfolio |
| Combination1(agingportfolio) | Exceptforaccountsreceivableandotherreceivablesforwhichlossprovisionhasbeenseparatelymeasuredorbelongingtoportfolio2,portfolio3andportfolio4,theCompanydeterminesthelossprovisionbasedontheexpectedcreditlossofthesameorsimilaraccountsreceivableportfoliowithsimilarcreditriskcharacteristicsinpreviousyearsanddividedaccordingtoaging,consideringtheforward-lookinginformation.Theagingshallbecalculatedfromthetimewhentheaccountsreceivableareinitiallyrecognized |
| Portfolio2(marginportfolio) | Allkindsofdeposits,margins,advances,qualityassurancemargins,employeeloans,changereservefundsandotherreceivablesthatshouldbecollectedindailyandregularactivities |
| Portfolio3(financialassetportfoliowithverylowcreditrisk) | Notesreceivableandotherreceivableswithextremelylowcreditriskaccordingtotheexpectedcreditlosscalculation |
| Portfolio4(risk-freeportfolio) | Fundsreceivablefromaffiliatedcompanieswithinthescopeofconsolidationareusedasthebasisforportfolio |
②Whencreditriskassessmentiscarriedoutbyportfoliomethod,accordingtotheportfoliostructureoffinancialassetsandsimilarcreditriskcharacteristics(thedebtor'sabilitytorepaythedebtsaccordingtothecontractterms),combinedwithhistoricaldefaultlossexperienceandcurrenteconomicsituation,andconsideringforward-lookinginformation,theexpectedcreditlossismeasuredonthebasisofexpectedduration,torecognizethelossprovision
offinancialassets.Theaccrualmethodoflossprovisionmeasuredbydifferentportfolios:
| Items | Accrualmethod |
| Combination1(agingportfolio) | Estimatedduration |
| Portfolio2(marginportfolio) | Estimatedduration |
| Portfolio3(financialassetportfoliowithverylowcreditrisk) | Estimatedduration |
| Portfolio4(risk-freeportfolio) | Estimatedduration |
③Theexpectedcreditlossrateofeachportfolioisasfollows:
Combination1(agingportfolio):expectedcreditlossrate
| Aging | Expectedcreditlossrateofaccountsreceivable(%) | Expectedcreditlossrateofotherreceivables(%) |
| Within1year（Including1year） | 0 | 0 |
| 1-2years(Including2years） | 10 | 10 |
| 2-3years（Including3years） | 30 | 30 |
| 3-4years（Including4years） | 50 | 50 |
| 4-5years（Including5years） | 90 | 90 |
| Over5years | 100 | 100 |
Portfolio2(marginportfolio):Basedontheexperienceofhistoricaldefaultlossandcurrenteconomicsituation,andconsideringforward-lookinginformation,theexpectedcreditlossrateis0;Portfolio3(financialassetportfoliowithverylowcreditrisk):combinedwithhistoricaldefaultlossexperienceandcurrenteconomicsituation,consideringforward-lookinginformation,theexpectedcreditlossrateis0;Portfolio4(risk-freeportfolio):basedonthehistoricalexperienceofdefaultlossesandcurrenteconomicsituation,consideringforward-lookinginformation,theexpectedcreditlossrateis0.
11.ContractassetsandContractliabilities
（1）ContractassetsTheCompanyliststherighttoreceiveconsiderationforgoodsorservicesthathavebeentransferredtocustomers(andthisrightdependsonotherfactorsbesidesthepassageoftime)ascontractassets.Theaccrualofimpairmentprovisionofcontractassetsshallrefertotheexpectedcreditlossmethodoffinancialinstruments.TheCompanyadoptsasimplifiedmethodtomeasurethelossprovisionforcontractassets(whetherornottheycontainsignificantfinancingelements).Incaseofimpairmentlossofcontractassets,the"assetimpairmentloss"shallbedebitedaccordingtotheamounttobewrittendown,andthecontractassetsimpairmentprovisionshallbecredited;Whenreversingtheaccruedassetimpairmentprovision,maketheoppositeentry.
(2)ContractliabilitiesTheCompanyliststheobligationtotransfergoodsorprovideservicestocustomersforconsiderationreceivedorreceivablefromcustomersascontractualliabilities.
TheCompanyshalllistthecontractassetsandliabilitiesunderthesamecontractinnetamount.InthecontractbetweentheCompanyandcustomers,theCompanyhastherighttochargethecontractpriceforthegoodsandrelatedservicesthathavebeentransferredtocustomers,andmeanwhileundertaketheperformanceobligationoftransferringthegoodsorservicestocustomers.Whenthecustomeractuallypaysthecontractconsiderationortheenterprisehastransferredthegoodsorservicestothecustomerbeforetheconsiderationbecomesdueandpayable,therighttoreceivetheconsiderationduetothetransferredgoodsorservicesshallbelistedascontractassets,andrecognizedasaccountsreceivableorlong-termreceivableswhentheunconditionalrightofcollectionisobtained.`InthecontractbetweentheCompanyandcustomers,theCompanyhastherighttochargethecontractpriceforthegoodsandrelatedservicesthathavebeentransferredtocustomers,andmeanwhileundertaketheperformanceobligationoftransferringthegoodsorservicestocustomers.Whenthecustomeractuallypaysthecontractconsiderationortheenterprisehastransferredthegoodsorservicestothecustomerbeforetheconsiderationbecomesdueandpayable,therighttoreceivetheconsiderationduetothetransferredgoodsorservicesshallbelistedascontractassets,andrecognizedasaccountsreceivableorlong-termreceivableswhentheunconditionalrightofcollectionisobtained.`
12.Long-termequityinvestments
(1)InitialmeasurementTheCompanymakesinitialmeasurementoflong-termequityinvestmentinthefollowingtwosituations:
①Theinitialinvestmentcostoflong-termequityinvestmentformedbybusinesscombinationshallbedeterminedinaccordancewiththefollowingprovisions:
A.Inabusinesscombinationunderthesamecontrol,ifthecombiningpartypayscash,transfersnon-cashassetsorassumesdebtsasthecombinationconsideration,theshareofthebookvalueoftheowner'sequityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyshallbetakenastheinitialinvestmentcostoflong-termequityinvestmentonthecombinationdate.Thedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthecashpaid,thetransferrednon-cashassetsandthebookvalueofthedebtsundertakenisadoptedtoadjustthecapitalreserve;Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.Alldirectlyrelatedexpensesincurredforbusinesscombination,includingauditfees,evaluationfees,legalservicefees,etc.,areincludedinthecurrentprofitsandlosseswhentheyoccur.B.Inthebusinesscombinationnotunderthesamecontrol,theCompanydeterminesthecombinationcostbydistinguishingthefollowingsituations:
a)Forbusinesscombinationrealizedbyoneexchangetransaction,thecostofcombinationisthefairvalueofassetspaid,liabilitiesincurredorassumedinordertogaincontroloverthepurchasedpartyonthepurchasedate;b)Forbusinesscombinationrealizedstepbystepthroughmultipleexchangetransactions,thesumofthebookvalueoftheequityinvestmentofthepurchasedpartyheldbeforethepurchasedateandthenewinvestmentcostonthepurchasedateshallbetakenastheinitialinvestmentcostoftheinvestment;c)Intermediaryexpensessuchasauditing,legalservices,evaluationandconsultation,andotherrelatedmanagementexpensesincurredforbusinesscombinationareincludedinthecurrentprofitsandlosseswhentheyoccur;
d)Iffutureeventsthatmayaffectthecombinationcostareagreedinthecombinationcontractoragreement,ifitisestimatedthatthefutureeventsarelikelytooccuronthepurchasedateandtheamountofimpactonthecombinationcostcanbereliablymeasured,theywillbeincludedinthecombinationcost.
②Exceptforthelong-termequityinvestmentformedbybusinesscombination,theinitialinvestmentcostoflong-termequityinvestmentobtainedbyothermeansshallbedeterminedinaccordancewiththefollowingprovisions:
A.Forthelong-termequityinvestmentobtainedbycashpayment,theactualpurchasepriceshallbetakenastheinitialinvestmentcost.Initialinvestmentcostincludesexpenses,taxesandothernecessaryexpendituresdirectlyrelatedtoobtaininglong-termequityinvestment.B.Forlong-termequityinvestmentobtainedthroughexchangeofnon-monetaryassets,theinitialinvestmentcostshallbedeterminedaccordingtoAccountingStandardsforBusinessEnterprisesNo.7-ExchangeofNon-monetaryAssets.C.Forlong-termequityinvestmentobtainedthroughdebtrestructuring,theinitialinvestmentcostshallbedeterminedaccordingtoAccountingStandardsforBusinessEnterprisesNo.12-DebtRestructuring.
③Nomatterhowthelong-termequityinvestmentisobtained,whentheinvestmentisobtained,thecashdividendsorprofitsincludedinthepaidconsiderationthathavebeendeclaredbutnotyetissuedbytheinvesteeareseparatelyaccountedasreceivableitems,whichdoesnotconstitutetheinitialinvestmentcostofobtainingthelong-termequityinvestment.
(2)SubsequentmeasurementLong-termequityinvestmentthatcanbecontrolledbytheinvesteeshallbeaccountedbythecostmethodinindividualfinancialstatements.Long-termequityinvestmentsthathavejointcontrolorsignificantinfluenceontheinvesteeshallbeaccountedbyequitymethod.
①Long-termequityinvestmentaccountedbycostmethodispricedaccordingtotheinitialinvestmentcost。Adjustthecostoflong-termequityinvestmentbyaddingorrecoveringinvestment.Cashdividendsorprofitsdeclaredanddistributedbytheinvesteeshallberecognizedascurrentinvestmentincome.Iftheinitialinvestmentcostoflong-termequityinvestmentaccountedbyequitymethodisgreaterthanthefairvalueshareofidentifiablenetassetsoftheinvestee,theinitialinvestmentcostoflong-termequityinvestmentshallnotbeadjusted;Iftheinitialinvestmentcostoflong-termequityinvestmentislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteeatthetimeofinvestment,thedifferenceshallbeincludedinthecurrentprofitsandlosses,andthecostoflong-termequityinvestmentshallbeadjustedatthesametime.Afterobtainingthelong-termequityinvestment,theinvestmentincomeandothercomprehensiveincomeshallberecognizedrespectivelyaccordingtotheshareofthenetprofitandlossandothercomprehensiveincomerealizedbytheinvestedunit,andthebookvalueofthelong-termequityinvestmentshallbeadjustedatthesametime;Accordingtotheprofitorcashdividenddeclaredanddistributedbytheinvestee,thebookvalueoflong-termequityinvestmentshallbereducedaccordingly;Thebookvalueofthelong-termequityinvestmentisadjustedandincludedintheowner'sequityforotherchangesintheowner'sequityoftheinvesteeexceptnetprofitandloss,othercomprehensiveincomeandprofitdistribution.Whenrecognizingtheshareofthenetprofitandlossoftheinvestee,thenetprofitoftheinvesteeisrecognizedafteradjustmentbasedonthefairvalueoftheidentifiablenetassetsoftheinvesteeatthetimeofobtainingtheinvestment.Iftheaccountingpoliciesandaccountingperiods
adoptedbytheinvesteeareinconsistentwiththoseoftheCompany,thefinancialstatementsoftheinvesteeshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany,andtheinvestmentincomeandothercomprehensiveincomeshallberecognizedaccordingly.Thenetlossincurredbytheinvesteeisrecognizedtobewrittendowntozerobythebookvalueoflong-termequityinvestmentandotherlong-termintereststhatsubstantiallyconstitutethenetinvestmentoftheinvestee,unlesstheCompanyisobligatedtobearadditionallosses.Iftheinvesteeachievesnetprofitinthefuture,theCompanywillresumetherecognitionoftherevenuesharingamountafteritsrevenuesharingamountcompensatesfortheunrecognizedlosssharingamount.Whencalculatingandrecognizingthenetprofitandlossthatshouldbeenjoyedorsharedbytheinvestee,theunrealizedinternaltransactionprofitandlosswiththeaffiliatedenterpriseandthejointventureshallbecalculatedaccordingtotheproportionthatshouldbeenjoyed,andthepartattributabletotheCompanyshallbeoffset,andtheinvestmentincomeshallberecognizedonthisbasis.UnrealizedinternaltransactionlossesbetweentheCompanyandtheinvesteeareassetimpairmentlosses,whichshallbefullyrecognized.Partofthecompany'sequityinvestmentinaffiliatedenterprisesisindirectlyheldthroughventurecapitalinstitutions,mutualfunds,trustcompaniesorsimilarentitiesincludinginvestment-linkedinsurancefunds.Regardlessofwhethertheaboveentitieshaveasignificantimpactonthispartofinvestment,theCompanychoosestomeasurethispartofindirectinvestmentatfairvalueanditschangeisincludedinprofitorlossinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,andtherestisaccountedforbyequitymethod.
③WhentheCompanydisposesoflong-termequityinvestment,thedifferencebetweenitsbookvalueandtheactualpurchasepriceshallbeincludedinthecurrentprofitsandlosses.Forlong-termequityinvestmentaccountedbyequitymethod,whendisposingoftheinvestment,itadoptsthesamebasisastheinvestee'sdirectdisposalofrelatedassetsorliabilities,andaccountsforthepartoriginallyincludedinothercomprehensiveincomeaccordingtothecorrespondingproportion.
(3)BasistodeterminejointcontroloverandsignificantinfluenceontheinvesteeJointcontrolreferstothecommoncontrolofanarrangementinaccordancewiththerelevantagreement,andtherelevantactivitiesofsucharrangementmustbeunanimouslyagreedbytheparticipantswhosharethecontrolrightsbeforemakingdecisions.Significantinfluencemeansthattheinvestorhastherighttoparticipateinthedecision-makingonthefinancialandoperatingpoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Whendeterminingwhethertheinvesteecanbecontrolledorexertsignificantinfluence,thepotentialvotingrightsfactorssuchascurrentconvertiblebondsandcurrentexecutablewarrantsoftheinvesteeheldbytheCompanyandotherpartiesshallbeconsideredatthesametime.
13.InvestmentPropertyThemeasurementmodeofinvestmentpropertyThemeasurementbythecostmethodDepreciationoramortizationmethodInvestmentpropertyisheldtoearnrentalsorforcapitalappreciationorforboth.Investmentpropertyincludesleasedorreadytotransferaftercapitalappreciationlanduserightsandleasedbuildings.TheCompany'sinvestmentrealestateisinitiallymeasuredaccordingtothecostatthetimeofacquisition,anddepreciatedoramortizedonscheduleaccordingtotherelevantprovisionsoffixedassetsorintangibleassets.
SubsequentexpendituresrelatedtoinvestmentrealestateareincludedintheinvestmentrealestatecostwhentherelevanteconomicbenefitsarelikelytoflowintotheCompanyandsuchcostcanbereliablymeasured;Otherwise,theyareincludedinthecurrentprofitsandlosseswhentheyoccur.Fortheinvestmentrealestatethatissubsequentlymeasuredbythecostmodel,pleasereferto26inthissectionforthemethodofassetimpairment.Whentheuseofinvestmentrealestateischangedtoself-useorexternalsale,theinvestmentrealestatewillbeconvertedintofixedassets,intangibleassetsorinventoryfromthedateofchange.Whentheuseofprivaterealestateischangedtorent-earningorcapitalappreciation,thefixedassetsorintangibleassetswillbeconvertedintoinvestmentrealestatefromthedateofchange.Incaseofconversion,thebookvaluebeforeconversionistakenastheentryvalueafterconversion.Theestimatedservicelife,estimatednetsalvageanddepreciation(amortization)methodofinvestmentrealestatearereviewedattheendofeachyearandappropriateadjustmentsaremade.Whentheinvestmentrealestateisdisposedof,orpermanentlywithdrawnfromuse,anditisnotexpectedtoobtaineconomicbenefitsfromitsdisposal,therecognitionoftheinvestmentrealestatewillbeterminated.Thedisposalincomefromthesale,transfer,scrappingordamageofinvestmentrealestateafterdeductingitsbookvalueandrelatedtaxesisincludedinthecurrentprofitsandlosses.Thedifferencebetweenthedisposalincomefromthesale,transfer,scrappingordamageofinvestmentrealestateafterdeductingitsbookvalueandrelatedtaxesisincludedinthecurrentprofitsandlosses.
14.Fixedassets
（1）ConfirmationconditionsTheCompany'sfixedassetsrefertotangibleassetsheldfortheproductionofcommodities,provisionoflaborservices,leasingoroperationmanagement,whichhaveaservicelifeofmorethanoneyear,andwhoseeconomicbenefitsarelikelytobeincludedintotheCompanyandwhosecostscanbereliablymeasured.TheclassificationofthefixedassetTheCompany'sfixedassetsincluderoadsandbridges,housesandbuildings,machineryandequipment,electronicequipment,transportationtoolsandotherequipment.
（2）DepreciationmethodTheusefullife,residualvaluerate,andannualdepreciationrateofvariousfixedassetsarelistedasfollows:
| Type | Depreciationmethod | Expectedusefullife(Year) | Residualrate（%） | Annualdepreciationrate(%) |
| GuangfoExpressway | Workingflowbasis | 28years | 0% | |
| FokaiExpressway-XiebiantoSanbaoSection | Workingflowbasis | 40years | 0% | |
| FokaiExpressway-SanbaotoShuikouSection | Workingflowbasis | 47.5years | 0% | |
| JingzhuExpresswayGuangzhu | Workingflowbasis | 30years | 0% |
| Section | ||||
| GuanghuiExpresswayCo.,Ltd. | Workingflowbasis | 23years | 0% | |
| HouseBuilding | Thestraight-linemethod | 20-30years | 3%-5% | 3.17%-4.85% |
| MachineEquipment | Thestraight-linemethod | 3-10years | 3%-5% | 9.50%-32.33% |
| TransportationEquipment | Thestraight-linemethod | 5-8years | 3%-5% | 11.88%-19.40% |
| Other | Thestraight-linemethod | 5years | 3%-5% | 19.00%-19.40% |
Forthefixedassetsformedbyspecialreserveexpenditure,thespecialreserveshallbeoffsetaccordingtothecosttoformthefixedassets,andtheaccumulateddepreciationofthesameamountshallberecognized.Thefixedassetswillnotbedepreciatedinfutureperiods.Accordingtothenatureandusageoffixedassets,theCompanydeterminestheservicelifeandestimatednetsalvagevalueoffixedassets.Attheendoftheyear,theservicelife,estimatednetsalvagevalueanddepreciationmethodoffixedassetsshallberechecked,andifthereisanydifferencewiththeoriginalestimate,correspondingadjustmentsshallbemade.
15.Construction-inprocessTheCompany'sconstructioninprogressisaccountedforindetailaccordingtotheproject,andtheprojectsofconstructioninprogressareregardedastheentryvalueoffixedassetsaccordingtoallexpensesincurredbeforetheassetsreachthescheduledserviceablestate.Includingtheconstructioncost,theoriginalpriceofmachineryandequipment,othernecessaryexpensesincurredtomaketheconstructioninprogressreachthescheduledserviceablestate,aswellastheborrowingcostsincurredforthespecialloanoftheprojectandtheborrowingcostsincurredfortheoccupiedgeneralloanbeforetheassetsreachthescheduledserviceablestate.TheCompanywilltransfertheconstructioninprogressintofixedassetswhentheprojectinstallationorconstructionreachesthescheduledserviceablestate.Theconstructedfixedassetsthathavereachedthescheduledserviceablestatebuthavenotyetbeensettledforcompletionshallbetransferredtofixedassetsaccordingtotheestimatedvalueaccordingtotheprojectbudget,constructioncostoractualcost,andthedepreciationoffixedassetsshallbeaccruedaccordingtothedepreciationpolicyoftheCompany.Afterthecompletionofthefinalaccounts,theoriginalprovisionalestimatedvalueshallbeadjustedaccordingtotheactualcost,buttheoriginalaccrueddepreciationamountshallnotbeadjusted.ThestandardsandtimepointsforconvertingtheCompany'sconstructioninprogressintofixedassetsareasfollows:
| Category | Standardandtimepointforconvertingintofixedassets |
| Expresswayconstructionproject | (1)Thephysicalconstruction,includingtheinstallationofrelatedequipmentandothersupportingfacilities,hasbeencompletelyorsubstantiallycompleted;(2)Theamountofcontinuedconstructionexpenditureisverysmalloralmostnolongeroccurs;(3)Relevantequipmentcanmaintainnormalandstableoperationforaperiodoftimeafterdebugging;(4)Theconstructedexpresswayhasreachedthedesignorcontractrequirements,orbasicallyconformstothedesignorcontractrequirements;(5)Iftheconstructionprojecthasreachedthescheduledserviceablestatebuthasnotyetcompletedthefinalaccountsforcompletion,itwillbetransferredtothefixedassetsaccordingtotheestimatedvalueaccordingtotheactualcostoftheprojectfromthedateofreachingthescheduledserviceablestate. |
| Category | Standardandtimepointforconvertingintofixedassets |
| Housesandbuildings | (1)Thephysicalconstruction,includinginstallation,hasbeencompletedorsubstantiallycompleted;(2)Theamountofexpenditurethatcontinuestooccuronthepurchasedhousesandbuildingsisverysmalloralmostnolongeroccurs;(3)Thepurchasedhousesandbuildingshavereachedthedesignorcontractrequirements,orarebasicallyconsistentwiththedesignorcontractrequirements;(4)Iftheconstructionprojecthasreachedthescheduledserviceablestatebuthasnotyetcompletedthefinalaccountsforcompletion,itwillbetransferredtothefixedassetsaccordingtotheestimatedvalueaccordingtotheactualcostoftheprojectfromthedateofreachingthescheduledserviceablestate. |
| Machineryandequipment | (1)Relatedequipmentandothersupportingfacilitieshavebeeninstalled;(2)Afterdebugging,theequipmentcanmaintainnormalandstableoperationforaperiodoftimeandbeacceptedbyrelevantpersonnel. |
16.Borrowingcost
(1)RecognitionprincipleandcapitalizationperiodofborrowingcostcapitalizationBorrowingcostsincurredbytheCompanycanbedirectlyattributedtothepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,andshallbecapitalizedwhenthefollowingconditionsaremetatthesametimeandincludedintherelevantassetcosts:
①Productionandexpenditurehaveoccurred;
②Borrowingcostshavealreadyoccurred;
③Thepurchase,constructionorproductionactivitiesrequiredtomaketheassetsreachtheintendedusableorsaleablestatehavestarted.Capitalizationofborrowingcostsshallbesuspendediftheassetsthatmeetthecapitalizationconditionsareabnormallyinterruptedintheprocessofpurchase,constructionorproduction,andtheinterruptiontimecontinuouslyexceeds3months.Borrowingcostsincurredduringtheinterruptionperiodarerecognizedasexpensesandincludedinthecurrentprofitsandlossesuntilthepurchaseandconstructionofassetsortheresumptionofproductionactivities.Iftheinterruptionisanecessaryprocedureforthepurchased,builtorproducedassetsthatmeetthecapitalizationconditionstoreachtheintendedusableorsaleablestate,thecapitalizationofborrowingcostswillcontinue.Capitalizationofborrowingcostsshallbestoppedwhenassetseligibleforcapitalizationarepurchased,builtorproducedtotheintendedusableorsaleablestate.Borrowingcostsincurredinthefuturearerecognizedasexpensesinthecurrentperiod.
(2)CalculationmethodofcapitalizationamountofborrowingcostsWhereaspecialloanisborrowedforthepurposeofpurchasing,buildingorproducingassetsthatmeetthecapitalizationconditions,itshallbedeterminedbydeductingtheinterestincomeobtainedbydepositingunusedloanfundsintothebankfromtheinterestexpensesactuallyincurredinthecurrentperiodofspecialloanorbytheinvestmentincomeobtainedbytemporaryinvestment.Ifthegeneralloanisoccupiedforthepurposeofpurchasing,buildingorproducingassetsthatmeetthecapitalizationconditions,theinterestamountofthegeneralloanthatshouldbecapitalizedshallbecalculatedanddeterminedaccordingtotheweightedaverageoftheaccumulatedassetexpenditureexceedingthespecialloanportionmultipliedbythecapitalizationrateoftheoccupiedgeneralloan.Capitalizationrateiscalculatedanddeterminedaccordingtotheweightedaverageinterestrateofgeneralborrowings.
17.Intangibleassets
(1)Servicelifeanditsdeterminationbasis,estimation,amortizationmethodorreviewprocedureTheintangibleassetsoftheCompanyareinitiallymeasuredatcost.Thepurchasedintangibleassetsshallberegardedastheactualcostaccordingtotheactualpaidpriceandrelatedexpenses.Theactualcostofintangibleassetsinvestedbyinvestorsshallbedeterminedaccordingtothevalueagreedintheinvestmentcontractoragreement,butifthevalueagreedinthecontractoragreementisunfair,theactualcostshallbedeterminedaccordingtothefairvalue.Thecostofself-developedintangibleassetsisthetotalexpenditureincurredbeforereachingtheintendeduse.Thefollow-upmeasurementmethodsoftheCompany'sintangibleassetsareasfollows:intangibleassetswithlimitedservicelifeareamortizedbythestraight-linemethodorworkloadmethodaccordingtodifferentcategories,andtheservicelifeandamortizationmethodofintangibleassetsarerecheckedattheendoftheyear,andifthereisanydifferencefromtheoriginalestimate,correspondingadjustmentswillbemade;Intangibleassetswithuncertainservicelifearenotamortized,butattheendoftheyear,theirservicelifewillbereviewed.Whenthereisconclusiveevidencethattheirservicelifeislimited,itwillbeestimatedandamortizedbythestraight-linemethod.Theamortizationmethodofintangibleassetswithlimitedservicelifeisasfollows:
| Category | Amortizationyears | Amortizationmethod |
| Landuseright | Remainingusefullife | Straight-linemethod |
| Software | 3-5years | Straight-linemethod |
| Tollroadfranchise | Residualtolloperationperiod | Workloadmethod |
18.Long-termamortizableexpensesLong-termdeferredexpensesarerecordedaccordingtotheactualamountincurred,andareamortizedequallyininstallmentsduringthebenefitperiodorwithintheprescribedperiod.Ifthelong-termprepaidexpenseitemcannotbenefitthefutureaccountingperiod,theamortizedvalueoftheitemthathasnotbeenamortizedwillbetransferredtothecurrentprofitsandlosses.
19.EmployeeBenefitsEmployeecompensationreferstovariousformsofremunerationorcompensationgivenbytheCompanyforobtainingservicesprovidedbyemployeesordissolvinglaborrelations.Employeecompensationincludesshort-termsalary,post-employmentbenefits,dismissalbenefitsandotherlong-termemployeebenefits.BenefitsprovidedbytheCompanytospouses,children,dependents,survivorsofdeceasedemployeesandotherbeneficiariesofemployeesarealsoemployeecompensation.
（1）Accountingmethodsofshort-termbenefitsDuringtheaccountingperiodwhenemployeesprovideservices,theCompanyrecognizestheactualshort-termsalaryasaliability,whichisincludedinthecurrentprofitsandlosses,exceptthatotheraccountingstandardsrequireorallowittobeincludedinthecostofassets.
(2)Accountingmethodsforpost-employmentbenefitsTheCompanyclassifiesthepost-employmentbenefitplanintodefinedcontributionplananddefinedbenefitplans.Post-employmentbenefitplanreferstotheagreementreachedbetweentheCompanyandemployeesonpost-employmentbenefits,ortherulesormeasuresformulatedbytheCompanytoprovidepost-employmentbenefitstoemployees,amongwhichthesetdepositplanreferstothepost-employmentwelfareplaninwhichtheCompanynolongerundertakesfurtherpaymentobligationsafterpayingafixedfeetoanindependentfund;Definedbenefitplansreferstothepost-employmentbenefitplanexcepttheset-updepositplan.
(3)AccountingTreatmentMethodofDemissionWelfareIftheCompanyprovidesdismissalbenefitstoemployees,theemployeecompensationliabilitiesarisingfromthedismissalbenefitsshallberecognizedassoonaspossibleandincludedinthecurrentprofitsandlosses:whenthecompanycannotunnaturallywithdrawthedismissalbenefitsprovidedbytheterminationoflaborrelationsplanorreductionproposal;whentheCompanyrecognizesthecostsorexpensesrelatedtothereorganizationinvolvingthepaymentofdismissalbenefits.
（4）Otherlong-termemployeebenefitsIfotherlong-termemployeebenefitsprovidedbytheCompanytoemployeesmeettheconditionsofthesetdepositplan,theyshallbehandledaccordingtotheaccountingpoliciesofthesetdepositplanmentionedabove;Otherwise,thenetliabilitiesornetassetsofotherlong-termemployeebenefitsshallberecognizedandmeasuredinaccordancewiththeaccountingpoliciesofdefinedbenefitplansmentionedabove.
20.Estimatedliabilities
(1)RecognitioncriteriaofestimatedliabilitiesIftheobligationsrelatedtocontingenciesstipulatedbytheCompanymeetthefollowingconditionsatthesametime,theyarerecognizedasestimatedliabilities:
①Theobligationsarethecurrentobligationsundertakenbytheenterprise;
②Fulfillingtheobligationsislikelytocauseeconomicbenefitstoflowoutoftheenterprise;
③Theamountoftheobligationscanbemeasuredreliably.
(2)MeasurementmethodofestimatedliabilitiesEstimatedliabilitiesareinitiallymeasuredaccordingtothebestestimateofexpenditurerequiredtofulfillrelevantcurrentobligations.Thereisacontinuousrangeofrequiredexpenditure,andthepossibilityofoccurrenceofvariousresultsinthisrangeisthesame,andthebestestimateisdeterminedaccordingtotheintermediatevalueinthisrange.Inothercases,thebestestimatesaretreatedasfollows:
①Contingenciesinvolvingasingleitemshallbedeterminedaccordingtothemostprobableamount.
②Contingenciesinvolvingmultipleitemsshallbecalculatedanddeterminedaccordingtovariouspossibleresultsandrelevantprobabilities.Whendeterminingthebestestimate,therisk,uncertaintyandtimevalueofmoneyrelatedtocontingenciesshallbeconsideredcomprehensively.Ifthetimevalueofmoneyhasgreatinfluence,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflow.
IfallorpartoftheexpensesrequiredbytheCompanytopayofftheestimatedliabilitiesareexpectedtobecompensatedbyathirdparty,thecompensationamountcanberecognizedasanassetonlywhenitisbasicallyconfirmedthatitcanbereceived.Therecognizedcompensationamountshallnotexceedthebookvalueoftheestimatedliabilities.TheCompanyrechecksthebookvalueoftheestimatedliabilitiesonthebalancesheetdate.Ifthereisconclusiveevidencethatthebookvaluecannottrulyreflectthecurrentbestestimate,thebookvalueshallbeadjustedaccordingtothecurrentbestestimate.
21.RevenuesAccountingpoliciesadoptedforincomerecognitionandmeasurement
(1)RevenuerecognitionprincipleSincethestartingdateofthecontract,thecompanyshallevaluatethecontract,identifieseachindividualperformanceobligationcontainedin,anddetermineswhethereachindividualperformanceobligationisperformedwithinacertainperiodoftimeoratacertainpointoftime.Theperformanceobligationisdefinedasfulfillmentwithinacertainperiodoftimeifoneofthefollowingconditionsismet,otherwise,itisdefinedasfulfilledatacertainpointintime:①Thecustomerobtainsandconsumestheeconomicbenefitsbroughtbythecompany'sperformancewhilethecompanyperformsthecontract;
②Thecustomercancontrolthegoodsundermanufacturingorservicesduringthecompany'sperformance;③Thegoodsorservicesproducedduringthecompany'sperformancehaveirreplaceableuses,andthecompanyhastherighttoaccumulateforthecompletedperformancesduringtheentirecontractperiod.Forobligationsperformedwithinacertainperiodoftime,thecompanyrecognizesrevenueinaccordancewiththeperformanceprogressinthatperiod.Iftheperformanceprogresscannotbereasonablydetermined,andthecostincurredisexpectedtobecompensated,therevenueshallberecognizedaccordingtotheamountofthecostincurreduntiltheperformanceprogresscanbereasonablydetermined.Forobligationsperformedatacertainpointintime,revenueshallberecognizedatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whenjudgingwhetherthecustomerhasobtainedcontroloftheproduct,thecompanyshallconsiderthefollowingpoints:①Thecompanyhasthecurrentrighttoreceivepaymentfortheproduct,thatis,thecustomerhasthecurrentpaymentobligationfortheproduct;②Thecompanyhastransferredthelegalownershipoftheproducttothecustomer,thatis,thecustomerhasthelegalownershipoftheproduct;③Thecompanyhastransferredthephysicalproducttothecustomer,thatis,thecustomerhasphysicallytakenpossessionoftheproduct;④Thecompanyhastransferredthemainrisksandrewardsontheownershipoftheproducttothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsontheownershipoftheproduct;⑤Thecustomerhasacceptedtheproduct;⑥Othersignsthatthecustomerhasobtainedcontroloftheproduct.
(2)Principleofrevenuemeasurement
①Thecompanyshallmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Thetransactionpriceistheamountofconsiderationthatthecompanyexpectstobeentitledtoreceiveduetothetransferofgoodsorservicestocustomers,whiledoesnotincludepaymentsreceivedonbehalfofthirdpartiesandpaymentsexpectedtobereturnedtocustomers.
②Ifthereisvariableconsiderationinthecontract,thecompanyshalldetermineitsbestestimateaccordingtotheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingthevariableconsiderationshallnot
exceedtheaccumulatedamountthat,ifrelevantuncertaintyiseliminated,willmostlikelyhavenosignificantreversal.
③Ifthereisanysignificantfinancingcomponentinthecontract,thecompanyshalldeterminethetransactionpricebasedontheamountpayableincashwhenthecustomerassumescontrolofthegoodsorservices.Thedifferencebetweentransactionpriceandcontractconsiderationshallbeamortizedthrougheffectiveinterestmethodduringthecontractperiod.Onthestartingdateofcontract,ifthecompanyexpectsthatthecustomerwillobtaincontrolofthegoodsorservicesandpaysthepricewithinoneyear,thesignificantfinancingcomponentincontractshallnotbeconsidered.
④Ifthecontractcontainstwoormoreperformanceobligations,thecompanyshall,ondateofthecontract,allocatethetransactionpricetoeachindividualobligationiteminaccordancewiththerelativeproportionoftheseparatesellingpriceofpromisedgoods.Theadoptionofdifferentbusinessmodelsinsimilarbusinessesleadstodifferencesinaccountingpoliciesforrevenuerecognition
(3)Specificmethodsofrevenuerecognition
1)TollservicefeeincomeTollrevenuereferstothetollrevenuefromoperatingtollroads,whichisrecognizedaccordingtotheamountcollectedandreceivablewhenvehiclespass.2）AdvertisingandotherrevenueAdvertisingandotherincomeshallberecognizedasoperatingincomewithintheserviceperiodaccordingtotheservicetimeandpriceaftertheserviceisprovided.
22.ContractcostIftheincrementalcostincurredbytheCompanytoobtainthecontractisexpectedtoberecovered,itwillberecognizedasanassetforthecontractacquisitioncost.Iftheamortizationperiodofthecontractacquisitioncostdoesnotexceedoneyear,itwillbedirectlyincludedinthecurrentprofitsandlosseswhenitoccurs.IfthecostincurredbytheCompanytoperformthecontractdoesnotapplytothescopeoftherelevantstandardssuchasinventory,fixedassetsorintangibleassetsandmeetsthefollowingconditionsatthesametime,itshallberecognizedasanassetforthecontractperformancecost:
(1)Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsexplicitlybornebycustomersandothercostsincurredonlyduetothecontract;
(2)ThecostincreasestheCompany'sresourcesforperformingandfulfillingitsobligationsinthefuture;
(3)Thecostisexpectedtoberecovered.TheCompanyamortizestheassetsrelatedtothecontractcostonthesamebasisastheincomeofgoodsorservicesrelatedtotheassets,andincludesthemintothecurrentprofitsandlosses.Ifthebookvalueoftheassetsrelatedtothecontractcostishigherthantheexpectedremainingconsiderationduetothetransferofthegoodsorservicesrelatedtotheassetsminustheestimatedcoststobeincurred,theCompany
willmakeprovisionforimpairmentoftheexcessandrecognizeitasanassetimpairmentloss.Ifthefactorsofimpairmentinthepreviousperiodhavechanged,sothattheexpectedresidualconsiderationofthegoodsorservicesrelatedtotheassetafterthetransferminustheestimatedcostishigherthanthebookvalueoftheasset,itwillbetransferredbacktotheoriginallyaccruedassetimpairmentprovisionandincludedinthecurrentprofitsandlosses,butthebookvalueoftheassetafterthetransferdoesnotexceedthebookvalueoftheassetonthetransferdateiftheimpairmentprovisionisnotaccrued.
23.GovernmentGrants
(1)TypesofgovernmentsubsidiesandaccountingtreatmentGovernmentsubsidiesrefertothemonetaryassetsornon-monetaryassetsobtainedbytheCompanyfromthegovernmentforfree(butexcludingthecapitalinvestedbythegovernmentastheowner).Ifgovernmentsubsidiesaremonetaryassets,theyshallbemeasuredaccordingtotheamountreceivedorreceivable.Ifgovernmentsubsidiesarenon-monetaryassets,theyshallbemeasuredatfairvalue;Ifthefairvaluecannotbeobtainedreliably,theyshallbemeasuredaccordingtothenominalamount.Governmentsubsidiesrelatedtothedailyactivitiesareincludedinotherincomeaccordingtothenatureofeconomicbusiness.Governmentsubsidiesunrelatedtothedailyactivitiesareincludedinnon-operatingincome.Governmentdocumentsclearlyspecifythatgovernmentsubsidiesforpurchasing,constructingorotherwiseforminglong-termassetsarerecognizedasgovernmentsubsidiesrelatedtoassets.Iftheobjectofsubsidyisnotclearlyspecifiedingovernmentdocuments,andlong-termassetscanbeformed,thepartofgovernmentsubsidiescorrespondingtothevalueofassetsshallberegardedasthegovernmentsubsidiesrelatedtoassets,andtherestshallberegardedasthegovernmentsubsidiesrelatedtoincome;Ifitisdifficulttodistinguishthem,thegovernmentsubsidiesasawholewillberegardedasagovernmentsubsidiesrelatedtoincome.Governmentsubsidiesrelatedtoassetsarerecognizedasdeferredincome.Theamountrecognizedasdeferredincomeshallbeincludedinthecurrentprofitsandlossesbystagesinaccordancewithareasonableandsystematicmethodwithintheservicelifeoftherelevantassets.Governmentsubsidiesotherthanthoserelatedtoassetsarerecognizedasgovernmentsubsidiesrelatedtoincome.Ifgovernmentsubsidiesrelatedtoincomeareusedtocompensatetherelatedexpensesorlossesoftheenterpriseinthefuture,theywillberecognizedasdeferredincome,andwillbeincludedinthecurrentprofitsandlossesduringtheperiodwhentherelatedexpensesarerecognized;Ifusedtocompensatetherelatedexpensesorlossesthathaveoccurredintheenterprise,theywillbedirectlyincludedinthecurrentprofitsandlosses.TheCompanyhasobtainedthepolicypreferentialloandiscount,andthefinancewillallocatethediscountfundstothelendingbank.IfthelendingbankprovidesloanstotheCompanyatthepolicypreferentialinterestrate,theactuallyreceivedloanamountwillbetakenastherecordedvalueoftheloan,andtherelevantborrowingcostswillbecalculatedaccordingtotheloanprincipalandthepolicypreferentialinterestrate;IfthefinancedirectlyallocatesthediscountfundstotheCompany,theCompanywilloffsettherelevantborrowingcostswiththecorrespondingdiscount.
(2)RecognitiontimeofgovernmentsubsidiesGovernmentsubsidiesarerecognizedwhentheymeettheconditionsattachedtogovernmentsubsidiesandcanbereceived.Governmentsubsidiesmeasuredaccordingtotheamountreceivableshallberecognizedattheendoftheperiodwhenthereisconclusiveevidencethattheycanmeettherelevantconditionsstipulatedinthefinancialsupportpolicyanditisexpectedthatfinancialsupportfundscanbereceived.Othergovernmentsubsidiesother
thanthosemeasuredaccordingtotheamountreceivableshallberecognizedwhenthesubsidiesareactuallyreceived.
24.DeferredincometaxassetsanddeferredincometaxliabilitiesTheCompanyadoptsthebalancesheetliabilitymethodforincometaxaccountingtreatment.
(1)Deferredtaxassets
①Ifthereisadeductibletemporarydifferencebetweenthebookvalueofanassetorliabilityanditstaxbasis,thedeferredincometaxassetsgeneratedbythedeductibletemporarydifferenceshallbecalculatedandconfirmedaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetorpayingofftheliability.
②Onthebalancesheetdate,ifthereisconclusiveevidencethatsufficienttaxableincomeislikelytobeobtainedinthefutureperiodtooffsetthedeductibletemporarydifference,theunrecognizeddeferredincometaxassetsinthepreviousperiodshallberecognized.
③Onthebalancesheetdate,thebookvalueofdeferredincometaxassetsshallbereviewed.Ifitisunlikelythatenoughtaxableincomewillbeobtainedinthefutureperiodtooffsetthebenefitsofdeferredincometaxassets,thebookvalueofdeferredincometaxassetswillbewrittendown.Whensufficienttaxableincomeislikelytobeobtained,thewritten-downamountwillbereversed.
(2)DeferredincometaxliabilitiesIfthereisataxabletemporarydifferencebetweenthebookvalueofassetsandliabilitiesandtheirtaxbasis,thedeferredincometaxliabilitiesarisingfromthetaxabletemporarydifferenceshallberecognizedaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetsorpayingofftheliabilities.
25.Lease
(1)AccountingtreatmentmethodforleasingasalesseeOnthestartdateoftheleaseterm,theCompanyrecognizestheright-to-useassetsandleaseliabilitiesforleasesotherthanshort-termleasesandlow-valueassetleases,andrecognizesdepreciationexpensesandinterestexpensesrespectivelyduringtheleaseterm.TheCompanyadoptsthestraight-linemethodineachperiodoftheleaseterm,andtheleasepaymentofshort-termleasesandlow-valueassetleasesisincludedinthecurrentexpenses.
1)Right-to-useassetsTheright-to-useassetsrefertotherightofthelesseetousetheleasedassetsduringtheleaseterm.Onthestartdateoftheleaseterm,theright-to-useassetsareinitiallymeasuredaccordingtothecost.Thecostincludes:①Theinitialmeasurementamountofleaseliabilities;②Theleasepaymentamountissuedonorbeforethestartdateoftheleaseterm,whereifthereisaleaseincentive,theamountrelatedtotheentitledleaseincentiveshallbededucted;③Theinitialdirectexpensesincurred;④Thecostexpectedtobeincurredtodismantleandremovetheleasedassets,restorethesitewheretheleasedassetsarelocatedorrestoretheleasedassetstothestateagreedintheleaseterms.ThedepreciationoftheCompany'sright-to-useassetsisclassifiedandaccruedbytheaveragelifemethod.Ifit
canbereasonablydeterminedthattheownershipoftheleasedassetswillbeacquiredattheexpirationoftheleaseterm,depreciationwillbeaccruedwithintheexpectedremainingservicelifeoftheleasedassets;Ifitisimpossibletoreasonablydeterminethattheownershipoftheleasedassetswillbeacquiredattheexpirationoftheleaseterm,depreciationshallbeaccruedduringtheleasetermortheremainingservicelifeoftheleasedassets,whicheverisshorter.AccordingtotherelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,theCompanydetermineswhethertheright-to-useassetshavebeenimpairedandcarriesoutaccountingtreatment.
2)LeaseliabilitiesLeaseliabilitiesareinitiallymeasuredaccordingtothepresentvalueofunpaidleasepaymentonthestartdateoftheleaseterm.Theleasepaymentinclude:①Fixedpayment(includingsubstantialfixedpayment),ifthereisleaseincentive,therelevantamountofleaseincentiveshallbededucted;②Variableleasepaymentdependingonindexorratio;③Theamountexpectedtobepaidaccordingtotheresidualguaranteeprovidedbythelessee;④Theexercisepriceofthepurchaseoption,providedthatthelesseereasonablydeterminesthattheoptionwillbeexercised;⑤Theamounttobepaidwhentheoptiontoterminatetheleaseisexercised,providedthattheleasetermreflectsthatthelesseewillexercisetheoptiontoterminatethelease;TheCompanyadoptstheinterestrateimplicitinleaseasthediscountrate;Iftheinterestrateimplicitinleasecannotbereasonablydetermined,theincrementalloaninterestrateoftheCompanyshallbeadoptedasthediscountrate.TheCompanycalculatestheinterestexpenseoftheleaseliabilitiesduringtheleasetermaccordingtothefixedperiodicinterestrate,andincludesitinthefinancialexpense.TheperiodicinterestratereferstothediscountrateadoptedbytheCompanyorthereviseddiscountrate.Thevariableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitsandlosseswhenactuallyincurred.WhentheCompany'sevaluationresultsoftheoptiontorenewthelease,terminatetheleaseorpurchasechange,theleaseliabilitieswillbere-measuredaccordingtothepresentvaluecalculatedbythechangedleasepaymentandthereviseddiscountrate,andthebookvalueoftheright-to-useassetswillbeadjustedaccordingly.Whentheactualleasepayment,theexpectedpayableamountoftheresidualguaranteeorthevariableleasepaymentdependingontheindexorratiochanges,theleaseliabilitiesshallbere-measuredaccordingtothepresentvaluecalculatedbythechangedleasepaymentandtheoriginaldiscountrate,andthebookvalueoftheright-to-useassetsshallbeadjustedaccordingly.
(2)Accountingtreatmentmethodforleasingasalessor
1)AccountingtreatmentofoperatingleaseDuringeachperiodoftheleaseterm,theCompanyadoptsthestraight-linemethodtorecognizetheleasereceiptsfromoperatingleaseasrentalincome.TheCompanycapitalizestheinitialdirectexpensesrelatedtooperatinglease,andincludestheminthecurrentincomebystagesaccordingtothesamerecognitionbasisastherentalincomeduringtheleaseterm.
2)AccountingtreatmentoffinancialleaseOntheleasestartdate,theCompanyrecognizesthedifferencebetweenthesumofthefinancialleasereceivable
andtheunguaranteedresidualvalueanditspresentvalueasunrealizedfinancingincome,andrecognizesitasleaseincomeinthefutureperiodwhentherentisreceived.TheinitialdirectexpensesincurredbytheCompanyrelatedtotheleasingtransactionareincludedintheinitialentryvalueofthefinancialleasereceivable.
26.ImpairmentofassetsThefollowingsignsindicatethattheassetsmaybeimpaired:
(1)Themarketpriceofassetsfellsharplyinthecurrentperiod,whichwassignificantlyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse.
(2)Theeconomic,technicalorlegalenvironmentinwhichtheCompanyoperatesandthemarketinwhichtheassetsarelocatedhaveundergonemajorchangesinthecurrentperiodorinthenearfuture,whichwillhaveadverseeffectsontheCompany.
(3)Themarketinterestrateorothermarketreturnoninvestmenthasincreasedinthecurrentperiod,whichaffectsthediscountrateusedbyenterprisestocalculatethepresentvalueoftheestimatedfuturecashflowofassets,resultinginasignificantdecreaseintherecoverableamountofassets.
(4)Thereisevidencethattheassetsareoutdatedortheirentitieshavebeendamaged.
(5)Assetshavebeenorwillbeidle,terminatedorplannedtobedisposedofinadvance.
(6)Theevidencereportedbythecompanyshowsthattheeconomicperformanceofassetshasbeenorwillbelowerthanexpected,suchasthenetcashflowcreatedbyassetsortherealizedoperatingprofit(orloss)isfarlowerthantheexpectedamount.
(7)Otherindicationsthatassetsmayhavebeenimpaired.Onthebalancesheetdate,theCompanyjudgesvariousassetsthatareapplicabletotheAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,suchaslong-termequityinvestment,fixedassets,engineeringmaterials,constructioninprogress,intangibleassets(exceptthosewithuncertainservicelife),andconductsimpairmenttestwhentherearesignsofimpairment-estimatingtheirrecoverableamount.Therecoverableamountisdeterminedbythehigherofthenetamountofthefairvalueoftheassetminusthedisposalexpensesandthepresentvalueoftheestimatedfuturecashflowoftheasset.Iftherecoverableamountofanassetislowerthanitsbookvalue,thebookvalueoftheassetshallbewrittendowntotherecoverableamount,andthewritten-downamountshallberecognizedastheassetimpairmentloss,whichshallbeincludedinthecurrentprofitsandlosses,andthecorrespondingassetimpairmentreserveshallbeaccruedatthesametime.Iftherearesignsthatanassetmaybeimpaired,theCompanyusuallyestimatesitsrecoverableamountonthebasisofindividualassets.Whenitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupisdeterminedbasedontheassetgrouptowhichtheassetbelongs.AssetgroupisthesmallestassetportfoliothatcanberecognizedbytheCompany,anditscashinflowisbasicallyindependentofotherassetsorassetgroups.Theassetgroupconsistsofassetsrelatedtocashinflow.Theidentificationofassetgroupisbasedonwhetherthemaincashinflowgeneratedbyassetgroupisindependentofotherassetsorcashinflowofassetgroup.TheCompanyconductsimpairmenttesteveryyearforintangibleassetswithuncertaingoodwillandservicelifeformedbybusinesscombinationandnotyetinserviceablecondition,regardlessofwhetherthereisanysignof
impairment.Theimpairmenttestofgoodwilliscarriedoutincombinationwithitsrelatedassetgrouporcombinationofassetgroups.Oncetheassetimpairmentlossisconfirmed,itwillnotbereversedinthefollowingaccountingperiod.
27.FairvaluemeasurementFairvaluereferstothepricethatamarketparticipantmustpaytosellortransferaliabilityinanorderlytransactionthatoccursonthemeasurementdate.TheCompanymeasuresrelatedassetsorliabilitiesatfairvalue,assumingthattheorderlytransactionofsellingassetsortransferringliabilitiesisconductedinthemainmarketofrelatedassetsorliabilities;Ifthereisnomajormarket,theCompanyassumesthatthetransactionwillbeconductedinthemostfavorablemarketofrelatedassetsorliabilities.Themainmarket(orthemostfavorablemarket)isthetradingmarketthattheCompanycanenteronthemeasurementday.TheCompanyadoptstheassumptionsusedbymarketparticipantstomaximizetheireconomicbenefitswhenpricingtheassetsorliabilities.Whenmeasuringnon-financialassetsatfairvalue,theabilityofmarketparticipantstousetheassetsforthebestpurposetogenerateeconomicbenefitsortheabilitytoselltheassetstoothermarketparticipantsforthebestpurposetogenerateeconomicbenefitsshallbeconsidered.TheCompanyadoptsthevaluationtechnologywhichisapplicableinthecurrentsituationandsupportedbysufficientavailabledataandotherinformation,andgivesprioritytotherelevantobservableinputvalues,andonlyusestheunobservableinputvalueswhentheobservableinputvaluesareunavailableorimpractical.Forassetsandliabilitiesmeasuredordisclosedatfairvalueinfinancialstatements,itshalldeterminethefairvaluelevelaccordingtothelowestlevelinputvaluewhichisofgreatsignificancetofairvaluemeasurementasawhole:thefirst-levelinputvalueistheunadjustedquotationofthesameassetsorliabilitiesthatcanbeobtainedonthemeasurementdateinanactivemarket;Thesecond-levelinputvalueisdirectlyorindirectlyobservableinputvaluesofrelatedassetsorliabilitiesexceptthefirst-levelinputvalue;Thethirdlevelinputvalueistheunobservableinputvalueofrelatedassetsorliabilities.Oneachbalancesheetdate,theCompanyreassessestheassetsandliabilitiesrecognizedinthefinancialstatementsthatarecontinuouslymeasuredatfairvaluetodeterminewhetherthereisaconversionbetweenthefairvaluemeasurementlevels.
28.Changeofmainaccountingpoliciesandestimations
(1)Changeofmainaccountingpolicies
□Applicable√Notapplicable
（2）Significantestimateschanges
□Applicable√Notapplicable
（3）Theinformationoftheadjustingitemsrelatedtothefinancialstatementsatthebeginningoftheyearoffirstimplementationduetothefirstimplementationofnewaccountingstandardsfrom2024.Adjustmentdescription
□Applicable√Notapplicable
VI.Taxation
1.Majorcategoryoftaxesandtaxrates
| Taxcategory | Taxbasis | Taxrate |
| VAT | Taxableincome | 3%,5%,6%,9%,13% |
| Citymaintenanceandconstructiontax | Theactualpaymentofturnovertax | 5%,7% |
| Enterpriseincometax | Taxableincome | 25% |
| EducationFeeSurcharge | Theactualpaymentofturnovertax | 3% |
| Localeducationsurcharge | Theactualpaymentofturnovertax | 2% |
2.Preferentialtaxtreatment
NoneVII.NotesonmajoritemsinconsolidatedfinancialstatementsoftheCompany
1.Monetaryfunds
InRMB
| Items | Amountinyear-end | BalanceYear-beginning |
| Cash | 28,703.17 | 35,130.15 |
| Bankdeposit | 2,486,064,082.26 | 2,039,934,390.23 |
| Other | 513,700.81 | 514,004.48 |
| MoneydepositedwithafinanceCompany | 2,469,986,094.02 | 2,662,395,109.14 |
| Interestaccruedwhennotdue | 21,604,195.03 | 15,753,098.20 |
| Total | 4,978,196,775.29 | 4,718,631,732.20 |
OthernoteTheinterestreceivableisRMB21,604,195.03frominterestaccruedonseven-daycalldeposits.
2.Accountreceivable
（1）Disclosurebyaging
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning |
| Within1year | 123,500,989.75 | 131,238,586.90 |
| 1-2years | 1,083,333.33 | 9,116,666.67 |
| 2-3years | 9,116,666.67 | |
| Over3year | 3,143,664.00 | 3,143,664.00 |
| 3-4years | 2,077,392.00 | |
| 4-5years | 2,077,392.00 | 1,066,272.00 |
| Over5years | 1,066,272.00 | |
| Total | 136,844,653.75 | 143,498,917.57 |
（2）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Accrualofbaddebtprovisionbysingle | 3,143,664.00 | 2.30% | 3,143,664.00 | 100.00% | 3,143,664.00 | 2.19% | 3,143,664.00 | 100.00% | ||
| Including： | ||||||||||
| Accrualofbaddebtprovisionbyportfolio | 133,700,989.75 | 97.70% | 1,877,500.00 | 1.40% | 131,823,489.75 | 140,355,253.57 | 97.81% | 455,833.33 | 0.32% | 139,899,420.24 |
| Including： | ||||||||||
| Agingportfolio | 133,700,989.75 | 97.70% | 1,877,500.00 | 1.40% | 131,823,489.75 | 140,355,253.57 | 97.81% | 455,833.33 | 0.32% | 139,899,420.24 |
| Total | 136,844,653.75 | 100.00% | 5,021,164.00 | 3.67% | 131,823,489.75 | 143,498,917.57 | 100.00% | 3,599,497.33 | 2.51% | 139,899,420.24 |
Accrualofbaddebtprovisionbysingle：None
InRMB
| Name | BalanceYear-beginning | Balanceinyear-end | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Withdrawalproportion | Reason | |
| GuangdongTaihengExpresswayDevelopmentCo.,Ltd. | 3,143,664.00 | 3,143,664.00 | 3,143,664.00 | 3,143,664.00 | 100.00% | Theenterprisehasenteredthestageofbankruptcyandliquidation,Itisnotexpectedtoberecovered |
| Total | 3,143,664.00 | 3,143,664.00 | 3,143,664.00 | 3,143,664.00 | ||
Accrualofbaddebtprovisionbyportfolio:Theaging
InRMB
| Aging | Balanceinyear-end | ||
| Accountreceivable | Baddebtprovision | Expectedcreditlossrate(% | |
| Within1year | 123,500,989.75 | ||
| 1-2years | 1,083,333.33 | 54,166.67 | 5.00% |
| 2-3years | 9,116,666.67 | 1,823,333.33 | 20.00% |
| Total | 133,700,989.75 | 1,877,500.00 | |
Relevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√Notapplicable
(3)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision：
InRMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Accrual | Reversedorcollectedamount | Write-off | Other | |||
| Accrualofbaddebtprovisionbysingleitem | 3,143,664.00 | 3,143,664.00 | ||||
| Accrualofbaddebtprovisionbycreditrisk | 455,833.33 | 1,421,666.67 | 1,877,500.00 | |||
| Total | 3,599,497.33 | 1,421,666.67 | 5,021,164.00 | |||
Ofwhichthesignificantamountofthereversedorcollectedpartduringthereportingperiod
（4）Theactualwrite-offaccountsreceivableNone
(5)Top5oftheclosingbalanceoftheaccountsreceivablecollectedaccordingtothearrearsparty
InRMB
| CompanyName | Amountofendingbalance | Closingbalanceofthecontractassets | Accountsreceivableandcontractassetsendingbalance | Proportionoftotalaccountsreceivable% | Amountofendingbalanceforbaddebts |
| GuangdongUnionElectronicServicesCo.,Ltd. | 90,123,591.02 | 65.86% | |||
| GuangdongHumenBridgeCo.,Ltd. | 18,978,390.78 | 13.87% | |||
| GuangdongLuluTrafficDevelopmentCo.,Ltd. | 10,200,000.05 | 7.45% | 1,877,500.00 | ||
| GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 6,491,696.72 | 4.74% | |||
| GuangdongJingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | 5,821,250.01 | 4.25% | |||
| Total | 131,614,928.58 | 96.17% | 1,877,500.00 |
（6）AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(7)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
3.Prepayments
（1）Aginganalysis
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning | ||
| Amount | Proportion（%） | Amount | Proportion（%） | |
| Within1year | 4,592,976.76 | 95.63% | 8,310,359.63 | 97.90% |
| 1-2years | 69,800.00 | 1.45% | 37,806.24 | 0.45% |
| Over3years | 140,000.00 | 2.91% | 140,000.00 | 1.65% |
| Total | 4,802,776.76 | 8,488,165.87 | ||
Notesofthereasonsoftheprepaymentagesover1yearwithsignificantamountbutfailedsettledintime:
None
(2)Top5oftheclosingbalanceoftheprepaymentcollectedaccordingtotheprepaymenttarget
| Name | RelationswiththeCompany | Amount | Aging | Reasonsfornon-settlement | Proportion% |
| GuangdongFeidaTrafficEngineeringCo.,ltd. | Non-Relatedparty | 2,478,186.00 | Within1year | Nosettlementconditionshavebeenreached | 51.60 |
| ChinaPingAnPropertyInsuranceCo.Ltd.GuangdongBranch | Non-Relatedparty | 362,115.64 | Within1year | Nosettlementconditionshavebeenreached | 7.54 |
| SinopecSalesCo.,Ltd | Non-Relatedparty | 314,042.88 | Within1year | Nosettlementconditionshavebeenreached | 7.54 |
| 48,000.00 | 1-2years |
| ChinaConstructionBankCorporationLimited,GuangzhouBranch | Non-Relatedparty | 245,845.80 | Within1year | Nosettlementconditionshavebeenreached | 5.12 |
| GuangdongPearlRiverShippingCo.,Ltd. | Non-Relatedparty | 180,286.89 | Within1year | Nosettlementconditionshavebeenreached | 3.75 |
| Total | 3,628,477.21 | 75.55 |
4.Otheraccountsreceivable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Dividendreceivable | 41,904,578.21 | 1,205,472.90 |
| Otherreceivable | 93,419,358.28 | 88,372,734.86 |
| Total | 135,323,936.49 | 89,578,207.76 |
（1）Interestreceivable
None
（2）Dividendreceivable
1)Dividendreceivable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 1,205,472.90 |
| ChinaEverbrightBankCo.,Ltd. | 40,699,105.31 | |
| Total | 41,904,578.21 | 1,205,472.90 |
2）Significantdividendreceivableagedover1year
InRMB
| Items | Balanceinyear-end | Aging | Reasonsfornon-recovery | Whetherwithimpairmentandthejudgmentbasis |
| GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | Over5years | Thepartnershipagreementexpiresandcanberecoveredaftertheextensionproceduresarecompleted | No,itcanberecoveredinthefuture |
| Total | 1,205,472.90 |
（3）Otheraccountsreceivable
1)Otheraccountsreceivableclassified
InRMB
| Nature | Balanceinyear-end | BalanceYear-beginning |
| Pettycash | 3,728,684.02 | 3,537,793.93 |
| Onbehalfofmoney | 270,113,769.23 | 221,107,620.02 |
| Deposit | 2,756,840.19 | 2,736,640.19 |
| Equitytransferpaymentreceivable | 40,373,842.01 | 39,682,898.02 |
| Compensationforperformancecommitmentsreceivable | 40,092,886.12 | 40,092,886.12 |
| Other | 914,393.63 | 2,322,516.60 |
| Total | 357,980,415.20 | 309,480,354.88 |
2）Disclosurebyaging
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning |
| Within1year(Including1year） | 211,968,466.53 | 209,212,525.26 |
| 1-2years | 46,007,315.36 | 98,008,543.71 |
| 2-3years | 97,997,543.71 | 220,243.57 |
| Over3years | 2,007,089.60 | 2,039,042.34 |
| 3-4years | 147,243.57 | 1,184,699.35 |
| 4-5years | 1,021,699.35 | 23,848.70 |
| Over5years | 838,146.68 | 830,494.29 |
| Total | 357,980,415.20 | 309,480,354.88 |
3）Accordingtothebaddebtprovisionmethodclassificationdisclosure
?Applicable□Notapplicable
InRMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion% | Amount | Proportion% | Amount | Proportion% | Amount | Proportion% | |||
| Accrualofbaddebtprovisionbysingle | 264,561,056.92 | 73.90% | 264,561,056.92 | 100.00% | 221,107,620.02 | 71.44% | 221,107,620.02 | 100.00% | ||
| Including： | ||||||||||
| Accrualofbaddebtprovisionbyportfolio | 93,419,358.28 | 26.10% | 93,419,358.28 | 88,372,734.86 | 28.56% | 88,372,734.86 | ||||
| Including： | ||||||||||
| Agingportfolio | 673,683.89 | 0.22% | 673,683.89 | |||||||
| CSFPortfolio | 12,129,905.05 | 3.39% | 12,129,905.05 | 6,274,434.12 | 2.03% | 6,274,434.12 | ||||
| Verylowcreditriskfinancialassetportfolio | 81,289,453.23 | 22.71% | 81,289,453.23 | 81,424,616.85 | 26.31% | 81,424,616.85 | ||||
| Total | 357,980,415.20 | 100.00% | 264,561,056.92 | 73.90% | 93,419,358.28 | 309,480,354.88 | 100.00% | 221,107,620.02 | 71.44% | 88,372,734.86 |
Accrualofbaddebtprovisionbysingle：
InRMB
| Name | BalanceYear-beginning | Balanceinyear-end | ||||
| BookBalance | Baddebtprovision | BookBalance | Baddebtprovision | Withdrawalproportion | Reason | |
| DepartmentofTransportofGuangdong | 221,107,620.02 | 221,107,620.02 | 264,561,056.92 | 264,561,056.92 | 100.00% | ThesourceoffundsforcustodyexpensespaidbyGuangzhou-FoshanExpresswayonbehalfneedstobefurtherdefined,andtheprovisionforbaddebtsshallbemadeinfullaccordingtotheprincipleofprudence |
| Total | 221,107,620.02 | 221,107,620.02 | 264,561,056.92 | 264,561,056.92 | ||
Accrualofbaddebtprovisionbyportfolio:
InRMB
| Name | Balanceinyear-end | ||
| Bookbalance | Baddebtprovision | Withdrawalproportion | |
| CSFPortfolio | 12,129,905.05 | ||
| Verylowcreditriskfinancialassetportfolio | 81,289,453.23 | ||
| Total | 93,419,358.28 | ||
Provisionforbaddebtsismadeaccordingtothegeneralmodelofexpectedcreditlosses
InRMB
| BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
| BalanceasatJanuary1,2024 | 221,107,620.02 | 221,107,620.02 | ||
| BalanceasatJanuary1,2024incurrent | ||||
| Thisperiodofprovision | 43,453,436.90 | 43,453,436.90 | ||
| BalanceasatJune30,2024 | 264,561,056.92 | 264,561,056.92 |
Basisfordivisionofeachstageandaccrualratioforbad-debtprovisionLossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√Notapplicable
4)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision：
InRMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Accrual | Reversedorcollectedamount | Write-off | Other | |||
| Accrualofbaddebtprovisionbysingle | 221,107,620.02 | 43,453,436.90 | 264,561,056.92 | |||
| Total | 221,107,620.02 | 43,453,436.90 | 264,561,056.92 | |||
Wherethecurrentbaddebtsbackorrecoversignificantamounts:
None5）Otheraccountreceivablesactuallycancelafterwrite-offImportantotherreceivableswrite-offNone6）Top5oftheclosingbalanceoftheotheraccountsreceivablecollectedaccordingtothearrearsparty
InRMB
| Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
| DepartmentofTransportofGuangdongProvince | Highwaymaintenanceexpenditure | 123,130,051.59 | Within1year | 73.90% | 123,130,051.59 |
| 43,681,523.62 | 1-2years | 43,681,523.62 | |||
| 97,749,481.71 | 2-3years | 97,749,481.71 | |||
| BipiXiaojuNewEnergy(Shenzhen)Co.,Ltd. | Equitytransfer | 40,373,842.01 | Within1year | 11.28% | |
| GuangdongProvincialFreewayCo.,Ltd. | Temporarilyestimatetherestructuringperformancecompensation | 40,092,886.12 | Within1year | 11.20% | |
| ChinaRailwayFirstBureauGroupCo.,Ltd | Onbehalfofmoney | 5,546,737.58 | Within1year | 1.55% | |
| GuangdongLitongDevelopmentInvestmentCo.,Ltd. | Vehicleparkingdeposit | 7,131.00 | Within1year | 0.52% | |
| 1,816,266.94 | 1-2years | ||||
| 22,980.00 | 3-4years | ||||
| Total | 352,420,900.57 | 98.25% | 264,561,056.92 |
5.Othercurrentassets
InRMB
| Items | Year-endbalance | Year-beginningbalance |
| Advancetaxpayment | 36,908.86 | 33,971.99 |
| VATretentiontaxcredits | 761,419.42 |
| Other | 1,015.64 | 833.72 |
| Total | 799,343.92 | 34,805.71 |
6.Long-termequityinvestment
InRMB
| Investedenterprise | Beginningbalance | Impairmentprovisionbegin-yearbalance | Increase/decrease | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Negativeinvestment | Investmentprofitandlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| 2.AffiliatedCompany | ||||||||||||
| ZhaoqingYuezhaoHighwayCo.,Ltd. | 367,104,015.00 | 142,000,000.00 | 30,049,890.64 | 99,500,000.00 | 439,653,905.64 | |||||||
| GuangdongJiangzhongExpresswayCo.,Ltd. | 557,686,679.66 | 31,500,000.00 | 8,230,842.00 | 4,057,227.52 | 593,360,294.14 | |||||||
| GanzhouGankangExpresswayCo.,Ltd. | 181,054,819.12 | 11,602,814.12 | 192,657,633.24 | |||||||||
| GanzhouKangdaExpressway | 257,929,704.98 | 20,570,257.49 | 278,499,962.47 | |||||||||
| Co.,Ltd. | ||||||||||
| ShenzhenHuiyanExpresswayCo.,Ltd. | 377,922,183.98 | 13,417,646.32 | 391,339,830.30 | |||||||
| GuoyuanSecuritiesCo.,Ltd. | 1,027,100,533.47 | 23,716,283.62 | 17,123,319.79 | 15,522,387.30 | 1,052,417,749.58 | |||||
| GuangdongYuepuSmallRefinancingCo.,Ltd(Note) | 221,858,110.10 | 7,506,722.97 | 229,364,833.07 | |||||||
| HunnanLianzhiTechnologyCo.,.Ltd. | 101,742,014.92 | -2,668,775.13 | -300,511.98 | 98,772,727.81 | ||||||
| SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd. | 3,180,226.77 | -755,502.56 | 3,002.40 | 2,427,726.61 | ||||||
| ShenzhenGarageElectricPileTechnologyCo.,Ltd | 15,312,000.00 | 1,131,892.41 | 16,443,892.41 | |||||||
| Subtotal | 3,095,578,288.00 | 188,812,000.00 | 112,802,071.88 | 17,123,319.79 | -297,509.58 | 119,079,614.82 | 3,294,938,555.27 | |||
| Total | 3,095,578,288.00 | 188,812,000.00 | 112,802,071.88 | 17,123,319.79 | - | 119,079,614.82 | 3,294,938,555.27 |
Therecoverableamountisdeterminedonthebasisofthenetamountoffairvaluelessdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheprojectedfuturecashflows
□Applicable?Notapplicable
7.OtherEquityinstrumentinvestment
InRMB
297,509.58Name
| Name | Closingbalance | Openingbalance | Gainsincludedinothercomprehensiveincomeinthecurrentperiod | Lossesincludedinothercomprehensiveincomeinthecurrentperiod | Gainsaccumulatedinothercomprehensiveincomeattheendofthecurrentperiod | Lossesaccumulatedinothercomprehensiveincomeattheendofthecurrentperiod | Dividendincomerecognizedinthecurrentperiod | Reasondesignatedasbeingmeasuredatfairvalueandchangebeingincludedinothercomprehensiveincome |
| GuangleExpresswayCo.,Ltd. | 796,722,655.90 | 24,016,868.47 | 72,391,222.64 | 820,739,524.37 | ||||
| GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 55,434,894.13 | 1,149,478.64 | 4,285,415.49 | 54,285,415.49 | ||||
| ChinaEverbrightBankCo.,Ltd. | 682,239,337.60 | 63,518,834.88 | 228,197,295.68 | 40,699,105.31 | 745,758,172.48 | |||
| HuaxiaSecuritiesCo.,Ltd.（Notes1） | 5,400,000.00 | |||||||
| HuazhengAssetManagementCo.,Ltd.（Notes2） | 1,620,000.00 | |||||||
| Total | 1,534,396,887.63 | 87,535,703.35 | 1,149,478.64 | 304,873,933.81 | 7,020,000.00 | 40,699,105.31 | 1,620,783,112.34 |
Note1:HuaxiaSecuritiesCo.,Ltd.hasbeenseverelyinsolvent.InApril2008,theCSRCsentaletteragreeingtoHuaxiaSecuritiesCo.,Ltd.toapplyforbankruptcy.InAugust2008,theBeijingNo.2IntermediatePeople'sCourtofficiallyacceptedthebankruptcyliquidationapplication.Note2:HuazhengAssetManagementCo.,Ltd.hasbeenseverelyinsolvent.
Breakdowndisclosureofinvestmentinnon-tradableequityinstrumentsinthecurrentperiod
InRMB
| Items | Dividendincomerecognized | Cumulativegain | Cumulativeloss | Amountofotherconsolidatedincometransferredtoretainedearnings | Reasonsfordesignationasmeasuredatfairvalueandchangesincludedinothercomprehensiveincome | Reasonsforotherconsolidatedincometransferredtoretainedearnings |
| GuangleExpresswayCo.,Ltd. | 72,391,222.64 | Non-transactionalpurposeforshareholding | ||||
| GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 4,285,415.49 | Non-transactionalpurposeforshareholding | ||||
| ChinaEverbrightBankCo.,Ltd. | 40,699,105.31 | 228,197,295.68 | Non-transactionalpurposeforshareholding | |||
| HuaxiaSecuritiesCo.,Ltd. | 5,400,000.00 | Non-transactionalpurposeforshareholding | ||||
| HuazhengAssetManagementCo.,Ltd. | 1,620,000.00 | Non-transactionalpurposeforshareholding | ||||
| Total | 40,699,105.31 | 304,873,933.81 | 7,020,000.00 |
8.Othernon-currentfinancialassets
InRMB
| Items | Closingbalance | Openingbalance |
| Classifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | ||
| Including：EquityinvestmentofBeijingInstituteofArchitecturalDesignCo.,Ltd. | 84,159,575.05 | 84,159,575.05 |
| EquityInvestmentinZhongchuZhiyunTechnologyCo.,Ltd. | 99,697,192.95 | 99,697,192.95 |
| Total | 183,856,768.00 | 183,856,768.00 |
9.Investmentproperty
(1)Investmentpropertyadoptedthecostmeasurementmode
√Applicable□Notapplicable
InRMB
| Items | Housesandbuildings | Landuseright | Total |
| I.Originalvalue | |||
| 1.Openingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 |
| 2.Increasedamountoftheperiod | |||
| （1）Outsourcing | |||
| (2)Inventory,FixedassetsandConstructionprojectinto | |||
| (3))IncreasedofEnterpriseconsolidation |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| （1）Disposal |
| （2）OtherOut |
4.Closingbalance
| 4.Closingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 |
| II.Accumulateddepreciationaccumulatedamortization | |||
| 1.Openingbalance | 11,137,288.26 | 2,052,214.64 | 13,189,502.90 |
| 2.Increasedamountoftheperiod | 73,774.56 | 36,784.68 | 110,559.24 |
| (1)Withdrawaloramortization | 73,774.56 | 36,784.68 | 110,559.24 |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| （1）Disposal |
| （2）OtherOut |
4.Closingbalance
| 4.Closingbalance | 11,211,062.82 | 2,088,999.32 | 13,300,062.14 |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Increasedamountoftheperiod | |||
| （1）Withdrawal |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| （1）Disposal |
| （2）OtherOut |
| Items | Housesandbuildings | Landuseright | Total |
| 4.Closingbalance | |||
| IV.Bookvalue | |||
| 1.Closingbookvalue | 1,453,635.43 | 882,831.78 | 2,336,467.21 |
| 2.Openingbook | 1,527,409.99 | 919,616.46 | 2,447,026.45 |
Therecoverableamountisdeterminedbythenetamountoffairvalueminusdisposalexpenses
□Applicable?NotapplicableTherecoverableamountisdeterminedaccordingtothepresentvalueoftheexpectedfuturecashflow
□Applicable?Notapplicable
（2）Detailsofinvestmentpropertyfailedtoaccomplishcertificationofproperty
InRMB
| Items | Bookbalance | Reason |
| HousesandBuilding | 776,324.82 | Transportationandotherancillaryfacilities,Notaccreditation |
10.Fixedassets
InRMB
| Items | Year-endbalance | Year-beginningbalance |
| Fixedassets | 8,497,532,272.53 | 9,010,154,405.32 |
| liquidationoffixedassets | 8,260.57 | 14,307.60 |
| Total | 8,497,540,533.10 | 9,010,168,712.92 |
(1)Listoffixedassets
InRMB
| Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Electricityequipmentandother | Total |
| I.Originalprice | |||||||||
| 1.Openingbalance | 1,460,270,190.66 | 10,944,202,847.52 | 6,825,195,881.48 | 5,136,471,234.45 | 648,895,670.39 | 1,731,297,238.00 | 60,422,551.05 | 147,583,818.25 | 26,954,339,431.80 |
| 2.Increasedamountoftheperiod | 7,852.75 | 3,494,065.14 | 757,450.53 | 4,259,368.42 | |||||
| （1）Purchase | 186,395.00 | 757,450.53 | 943,845.53 | ||||||
| （2）Transferofprojectunderconstruction | |||||||||
| (3)IncreasedofEnterpriseconsolidation | |||||||||
| （4）Other | 7,852.75 | 3,307,670.14 | 3,315,522.89 | ||||||
| 3.Decreasedamountoftheperiod | 132,502.09 | 172,507.40 | 3,572,850.63 | ||||||
| （1）Disposalorscrap | 172,507.40 | 172,507.40 |
| Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Electricityequipmentandother | Total |
| （2）Dispositionsubsidiary | |||||||||
| （3）Otherout | 132,502.09 | 3,267,841.14 | |||||||
| 4.Closingbalance | 1,460,270,190.66 | 10,944,202,847.52 | 6,825,195,881.48 | 5,136,471,234.45 | 648,903,523.14 | 1,734,658,801.05 | 60,422,551.05 | 144,900,920.24 | 26,955,025,949.59 |
| II.Accumulateddepreciation | |||||||||
| 1.Openingbalance | 1,460,270,190.66 | 6,203,519,026.26 | 4,716,494,291.96 | 3,517,456,318.71 | 499,429,758.64 | 1,387,998,338.20 | 46,833,267.81 | 98,851,424.12 | 17,930,852,616.36 |
| 2.Increasedamountoftheperiod | 170,326,851.11 | 180,296,294.95 | 97,305,638.83 | 15,173,950.25 | 43,291,072.28 | 1,130,950.19 | 5,948,507.52 | 513,473,265.13 | |
| （1）Withdrawal | 170,326,851.11 | 180,296,294.95 | 97,305,638.83 | 15,173,950.25 | 43,291,072.28 | 1,130,950.19 | 5,948,507.52 | 513,473,265.13 | |
| （2）Other | |||||||||
| 3.Decreasedamountoftheperiod | 36,790.74 | 127,823.81 | 164,614.55 | ||||||
| (1)Disposalorscrap | 127,823.81 | 127,823.81 | |||||||
| （2）Dispositionsubsidiary | |||||||||
| （3）Otherout | 36,790.74 | 36,790.74 |
| Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Electricityequipmentandother | Total |
| 4.Closingbalance | 1,460,270,190.66 | 6,373,845,877.37 | 4,896,790,586.91 | 3,614,761,957.54 | 514,603,708.89 | 1,431,252,619.74 | 47,964,218.00 | 104,672,107.83 | 18,444,161,266.94 |
| III.Impairmentprovision | |||||||||
| 1.Openingbalance | 2,889,394.16 | 10,394,796.45 | 48,219.51 | 13,332,410.12 | |||||
| 2.Increasedamountoftheperiod | |||||||||
| (1)Withdrawal |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| (1)Disposalorscrap |
4.Closingbalance
| 4.Closingbalance | 2,889,394.16 | 10,394,796.45 | 48,219.51 | 13,332,410.12 | |||||
| IV.Bookvalue | |||||||||
| 1.Closingbookvalue | 4,570,356,970.15 | 1,928,405,294.57 | 1,521,709,276.91 | 131,410,420.09 | 293,011,384.86 | 12,458,333.05 | 40,180,592.90 | 8,497,532,272.53 | |
| 2.Openingbook | 4,740,683,821.26 | 2,108,701,589.52 | 1,619,014,915.74 | 146,576,517.59 | 332,904,103.35 | 13,589,283.24 | 48,684,174.62 | 9,010,154,405.32 |
(2)TemporarilyidlefixedassetsNone
(3)Fixedassetsleasedoutfromoperationlease
InRMB
| Items | Year-endbalance |
| Houseandbuildings | 18,007,662.56 |
| Machineryequipment | 484,000.00 |
（4）Detailsoffixedassetsfailedtoaccomplishcertificationofproperty
InRMB
| Items | Bookbalance | Reason |
| Houseandbuildings | 117,834,200.14 | Transportationandotherancillaryfacilities，Notaccreditation. |
（5）Listoftemporarilyidlefixedassets
□Applicable?Notapplicable
（6）liquidationoffixedassets
InRMB
| Items | Year-endbalance | Year-beginningbalance |
| Transportationequipment | 1,600.00 | 14,307.60 |
| Officeequipmentandother | 6,660.57 | |
| Total | 8,260.57 | 14,307.60 |
11.Projectunderconstruction
InRMB
| Items | Year-endbalance | Year-beginningbalance |
| Projectunderconstruction | 2,511,732,378.97 | 1,960,092,562.22 |
| Total | 2,511,732,378.97 | 1,960,092,562.22 |
（1）Projectunderconstruction
InRMB
| Items | Year-endbalance | Year-beginningbalance | ||||
| Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
| ReconstructionandExpansionofNansha-ZhuhaisectionofGuangzhou-MacaoExpressway | 2,124,802,034.64 | 2,124,802,034.64 | 1,648,394,518.48 | 1,648,394,518.48 | ||
| ReconstructionandExpansionofFokaiExpresswaySanbaotoShuikou | 263,059,185.24 | 263,059,185.24 | 197,907,850.29 | 197,907,850.29 | ||
| ExpansionProjectofLuogang-LingkengSection | 23,955,503.93 | 23,955,503.93 | 21,813,587.29 | 21,813,587.29 | ||
| JiujiangBridge | 22,216,776.65 | 22,216,776.65 | 16,070,965.65 | 16,070,965.65 | ||
| Items | Year-endbalance | Year-beginningbalance | ||||
| Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
| navigableholeanti-collisionreinforcementproject | ||||||
| Videoencryptionandbasedonvideoaiabnormaleventperceptionengineering | 19,951,400.73 | 19,951,400.73 | 19,951,400.73 | 19,951,400.73 | ||
| Guangzhou-ShantouRailwayCrossingproject | 19,446,564.43 | 19,446,564.43 | 19,446,564.43 | 19,446,564.43 | ||
| Jiangxi-Shenzhenhigh-speedrailwaycross-sectionexpansionproject | 15,664,172.98 | 15,664,172.98 | 15,664,172.98 | 15,664,172.98 | ||
| BoluoCentralStationofficeandlivingfacilitiesrenovationandexpansionproject | 15,054,485.37 | 15,054,485.37 | 13,281,042.37 | 13,281,042.37 | ||
| Other | 7,582,255.00 | 7,582,255.00 | 7,562,460.00 | 7,562,460.00 | ||
| Total | 2,511,732,378.97 | 2,511,732,378.97 | 1,960,092,562.22 | 1,960,092,562.22 | ||
(2)Changesofsignificantconstructioninprogress
InRMB
| Nameofproject | Budget | Openingbalance | Increase | Transferredtofixedassets | Otherdecrease | Endbalance | Proportion% | Projectprocess | Capitalizationofinterest | Including:capitalizationofinterestthisperiod | Capitalizationofinterestrate(%) | Sourceoffunding |
| ReconstructionandExpansionofNansha-ZhuhaisectionofGuangzhou-MacaoExpressway | 13,735,989,200.00 | 1,648,394,518.48 | 476,407,516.16 | 2,124,802,034.64 | 15.47% | 15.47% | 82,909,171.55 | 28,396,161.60 | 2.86% | Other | ||
| ReconstructionandExpansionofFokaiExpresswaySanbaotoShuikou | 3,426,210,000.00 | 197,907,850.29 | 65,767,245.70 | 263,059,185.24 | 84.14% | 84.14% | 79,983,855.13 | 2,185,377.26 | 3.13% | Other | ||
| Jiangxi-Shenzhenhigh-speedrailwaycross-sectionexpansionproject | 36,419,600.00 | 16,070,965.65 | 6,145,811.00 | 22,216,776.65 | 61.00% | 61.00% | Other | |||||
| Videoencryptionandbasedonvideoaiabnormaleventperceptionengineering | 33,963,500.00 | 19,951,400.73 | 19,951,400.73 | 58.74% | 58.74% | Other | ||||||
| Jiangxi-Shenzhenhigh-speedrailwaycross-sectionexpansionproject | 16,966,900.00 | 15,664,172.98 | 15,664,172.98 | 92.32% | 92.32% | Other | ||||||
| Guangzhou-ShantouRailway | 21,460,000.00 | 19,446,564.43 | 19,446,564.43 | 90.62% | 90.62% | Other |
| Crossingproject | ||||||||||||
| BoluoCentralStationofficeandlivingfacilitiesrenovationandexpansionproject | 17,000,000.00 | 13,281,042.37 | 1,773,443.00 | 15,054,485.37 | 88.56% | 88.56% | Other | |||||
| PreliminaryworkoftherenovationandexpansionprojectfromLuogangtoLingkengsection | 321,541,000.00 | 21,813,587.29 | 2,141,916.64 | 23,955,503.93 | 7.45% | 7.45% | Other | |||||
| Total | 17,609,550,200.00 | 1,952,530,102.22 | 552,235,932.50 | 0.00 | 0.00 | 2,504,150,123.97 | 162,893,026.68 | 30,581,538.86 |
Note:ThebudgetforthereconstructionandexpansionoftheNansha-ZhuhaisectionoftheGuangzhou-MacaoExpresswayincludestheconstructioncostofsomeprojectsbornebythegovernment.
(3)Provisionforimpairmentofconstructionprojectsinthecurrentperiod
None
（4）Informationofimpairmenttestofconstructioninprogress
□Applicable?Notapplicable
(5)EngineeringMaterials
None
12.Userightassets
（1）Right-of-useassets
InRMB
| Items | Houseandbuildings | Machineryequipment | Transportationequipment | Other | Total |
| I.Originalprice | |||||
| 1.Openingbalance | 30,634,734.72 | 357,112.19 | 673,169.06 | 1,007,747.00 | 32,672,762.97 |
| 2.Increasedamountoftheperiod |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod
4.Closingbalance
| 4.Closingbalance | 30,634,734.72 | 357,112.19 | 673,169.06 | 1,007,747.00 | 32,672,762.97 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 6,833,349.00 | 214,267.32 | 336,584.52 | 321,052.32 | 7,705,253.16 |
| 2.Increasedamountoftheperiod | 5,117,483.70 | 35,711.22 | 168,292.26 | 53,508.72 | 5,374,995.90 |
| （1）Withdrawal | 5,117,483.70 | 35,711.22 | 168,292.26 | 53,508.72 | 5,374,995.90 |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| （1）Disposition |
4.Closingbalance
| 4.Closingbalance | 11,950,832.70 | 249,978.54 | 504,876.78 | 374,561.04 | 13,080,249.06 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | |||||
| 2.Increasedamountoftheperiod | |||||
| （1）Withdrawal |
3.Decreasedamountof
| Items | Houseandbuildings | Machineryequipment | Transportationequipment | Other | Total |
| theperiod | |||||
| （1）Disposition |
4.Closingbalance
| 4.Closingbalance | |||||
| IV.Bookvalue | |||||
| 1.Closingbookvalue | 18,683,902.02 | 107,133.65 | 168,292.28 | 633,185.96 | 19,592,513.91 |
| 2.Openingbookvalue | 23,801,385.72 | 142,844.87 | 336,584.54 | 686,694.68 | 24,967,509.81 |
13.Intangibleassets
(1)Listofintangibleassets
InRMB
| Items | Landuseright | Patentright | Non-patentedtechnology | Software | TheTurnpikefranchise | Total |
| I.Originalprice | ||||||
| 1.Openingbalance | 2,701,738.76 | 27,465,438.28 | 318,348,741.86 | 348,515,918.90 | ||
| 2.Increasedamountoftheperiod | ||||||
| (1)Purchase | ||||||
| (2)InternalDevelopment | ||||||
| (3)IncreasedofEnterpriseCombination |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| （1）Disposal |
4.Closingbalance
| 4.Closingbalance | 2,701,738.76 | 27,465,438.28 | 318,348,741.86 | 348,515,918.90 | |
| II.Accumulatedamortization | |||||
| 1.Openingbalance | 2,381,954.98 | 22,431,882.87 | 102,373,328.05 | 127,187,165.90 | |
| 2.Increasedamountoftheperiod | 7,705.62 | 965,784.98 | 11,182,333.59 | 12,155,824.19 | |
| (1)Withdrawal | 7,705.62 | 965,784.98 | 11,182,333.59 | 12,155,824.19 |
3.Decreasedamountofthe
| Items | Landuseright | Patentright | Non-patentedtechnology | Software | TheTurnpikefranchise | Total |
| period | ||||||
| （1）Disposal |
4.Closingbalance
| 4.Closingbalance | 2,389,660.60 | 23,397,667.85 | 113,555,661.64 | 139,342,990.09 | |
| III.Impairmentprovision | |||||
| 1.Openingbalance | |||||
| 2.Increasedamountoftheperiod | |||||
| (1)Withdrawal |
3.Decreasedamountoftheperiod
| 3.Decreasedamountoftheperiod |
| （1）Disposal |
4.Closingbalance
| 4.Closingbalance | |||||
| IV.Bookvalue | |||||
| 1.Closingbookvalue | 312,078.16 | 4,067,770.43 | 204,793,080.22 | 209,172,928.81 | |
| 2.Openingbookvalue | 319,783.78 | 5,033,555.41 | 215,975,413.81 | 221,328,753.00 |
Attheendofthisperiod,thereisnointangibleassetsformedthroughthecompany'sinternalresearchandAttheendofthisperiod,theintangibleassetsformedthroughthecompany'sinternalresearchanddevelopmentaccountedfor0.00%ofthebalanceofintangibleassets
(2)DetailsofLanduserightfailedtoaccomplishcertificationofproperty
InRMB
| Items | Bookvalue | Reasonfornotobtainingthetitlecertificate |
| GongheTownLand | 312,078.16 | Reasonsleftoverfromhistory |
14.Deferredincometaxassets/deferredincometaxliabilities
(1)Deferredincometaxassetshadnotbeenoff-set
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Assetsimpairmentprovisions | 13,332,410.12 | 3,333,102.53 | 13,332,410.12 | 3,333,102.53 |
| Creditimpairmentprovision | 5,021,164.00 | 1,255,291.00 | 3,599,497.33 | 899,874.33 |
| Assetappraisal,appreciation,depreciationandamortization | 94,722,048.48 | 23,680,512.12 | 106,786,384.50 | 26,696,596.13 |
| Deferredincome | 5,945,172.14 | 1,486,292.96 | 10,976,324.09 | 2,744,080.99 |
| Leaseliabilities | 21,516,858.56 | 5,379,214.61 | 23,963,150.05 | 5,990,787.46 |
| Advancelease | 633,185.96 | 158,296.49 | 686,694.68 | 171,673.67 |
| Total | 141,170,839.26 | 35,292,709.71 | 159,344,460.77 | 39,836,115.11 |
(2)Deferredincometaxliabilitieshadnotbeenoff-set
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning | ||
| Deductibletemporarydifference | Deferredincometaxliabilities | Deductibletemporarydifference | Deferredincometaxliabilities | |
| Changesinthefairvalueofotherequityinstruments | 304,873,933.81 | 76,218,483.45 | 218,487,709.10 | 54,621,927.27 |
| Deductibletemporarydifferencesintheformationofassetimpairment | 814,752,739.12 | 203,688,184.77 | 843,459,192.41 | 210,864,798.09 |
| Differenceofamortizationmethodoffranchiseoftollroad | 13,071,447.69 | 3,267,861.92 | 11,266,760.17 | 2,816,690.05 |
| Changesinthefairvalueoftradingfinancialassets | 12,856,768.00 | 3,214,192.00 | 12,856,768.00 | 3,214,192.00 |
| Taxaccountingdifferenceofuserightasset | 19,592,513.91 | 4,898,128.44 | 24,967,509.81 | 6,241,877.43 |
| Taxaccountingdifferencesofprojectsunderconstruction | 36,833,704.45 | 9,208,426.11 | 26,766,856.80 | 6,691,714.20 |
| Total | 1,201,981,106.98 | 300,495,276.69 | 1,137,804,796.29 | 284,451,199.04 |
(3)Deferredincometaxassetsorliabilitieslistedbynetamountafteroff-setNone
(4)Detailsofincometaxassetsnotrecognized
InRMB
| Items | Balanceinyear-end | Balanceinyear-begin |
| Deductibletemporarydifference | 271,581,056.92 | 228,127,620.02 |
| Total | 271,581,056.92 | 228,127,620.02 |
15.Othernon-currentassets
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning | ||||
| Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
| Prepaidengineeringfees | 751,711,473.46 | 751,711,473.46 | 337,943,920.69 | 337,943,920.69 | ||
| Prepaidbusinesstax | 1,513,106.64 | 1,513,106.64 | 1,714,291.80 | 1,714,291.80 | ||
| Total | 753,224,580.10 | 753,224,580.10 | 339,658,212.49 | 339,658,212.49 | ||
16.Assetswithrestrictedrightofownership
InRMB
| Items | Balanceinyear-end | Balanceinyear-begin | ||||||
| Bookbalance | Bookvalue | Restrictiontype | Restrictioninformation | Bookbalance | Bookvalue | Restrictiontype | Restrictioninformation | |
| Monetaryfund | 1,221,200.00 | 1,221,200.00 | Specialfunds | Specialfundsforlandreclamation | 1,221,200.00 | 1,221,200.00 | Specialfunds | Specialfundsforlandreclamation |
| Total | 1,221,200.00 | 1,221,200.00 | 1,221,200.00 | 1,221,200.00 | ||||
17.Short-termBorrowing
（1）Short-termBorrowing
InRMB
| Total | Balanceinyear-end | BalanceYear-beginning |
| CreditBorrowing | 290,000,000.00 | 110,000,000.00 |
| Interestpayablenotdue | 205,416.67 | 85,708.33 |
| Total | 290,205,416.67 | 110,085,708.33 |
（2）Overdueshort-termborrowings
None
18.Accountpayable
（1）Listofaccountpayable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Within1year（Including1year） | 46,763,528.98 | 114,450,217.03 |
| 1-2years（including2years） | 18,879,612.52 | 36,069,234.79 |
| 2-3years（including3years） | 34,165,996.99 | 7,388,237.28 |
| Over3years | 63,462,992.98 | 56,542,901.70 |
| Total | 163,272,131.47 | 214,450,590.80 |
（2）Significantpayableagingmorethan1year
InRMB
| Items | Balanceinyear-end | Reason |
| FoshanLandandresourcesBureau. | 30,507,598.21 | Unsettled |
| TentativelyestimatedprojectcostofHuizhouNorthInterchangeProject | 19,962,248.04 | Unsettled |
| TentativelyestimatedprojectcostofGualuhuInterchangeProject | 13,076,473.71 | Unsettled |
| HeshanLandandresourcesBureau | 9,186,893.60 | Unsettled |
| PolyChangdaEngineeringCo.,Ltd. | 4,918,897.30 | Unsettled |
| FoshanChanchengDistrict,ZhangChaSub-districtOffice | 4,626,817.32 | Unsettled |
| GuangdongXinyueTrafficInvestmentCo.,Ltd. | 3,814,640.02 | Unsettled |
| GuangdongGuanyueRoad&BridgeCo.,Ltd. | 3,376,332.00 | Unsettled |
| Total | 89,469,900.20 |
19.Prepaymentreceived
(1)ListofPrepaymentreceived
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Within1year（Including1year） | 1,190,550.33 | 1,564,332.74 |
| 1-2years（Including2years） | 331,925.18 | |
| 2-3years（Including3years） | 750,973.00 | |
| Total | 1,190,550.33 | 2,647,230.92 |
（2）Significantpayableagingmorethan1year
None
20.PayableEmployeewage
（1）PayableEmployeewage
InRMB
| Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
| I.Short-termcompensation | 20,622,986.18 | 193,269,416.57 | 193,370,463.47 | 20,521,939.28 |
| II.Post-employmentbenefits-definedcontributionplans | 33,205,311.35 | 28,953,716.97 | 4,251,594.38 |
| Total | 20,622,986.18 | 226,474,727.92 | 222,324,180.44 | 24,773,533.66 |
（2）Short-termRemuneration
InRMB
| Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
| 1.Wages,bonuses,allowancesandsubsidies | 465,063.49 | 141,793,106.55 | 141,677,892.77 | 580,277.27 |
| 2.Employeewelfare | 10,159,179.57 | 10,159,179.57 | ||
| 3.Socialinsurancepremiums | 9,714,324.70 | 9,704,824.12 | 9,500.58 | |
| Including：Medicalinsurance | 8,519,965.27 | 8,511,661.48 | 8,303.79 | |
| Workinjuryinsurance | 1,194,359.43 | 1,193,162.64 | 1,196.79 | |
| 4.Publicreservesforhousing | 19,743,589.00 | 19,724,245.00 | 19,344.00 | |
| 5.Unionfundsandstaffeducationfee | 17,837,887.34 | 4,631,994.44 | 4,877,099.70 | 17,592,782.08 |
| 8.Other | 2,320,035.35 | 7,227,222.31 | 7,227,222.31 | 2,320,035.35 |
| Total | 20,622,986.18 | 193,269,416.57 | 193,370,463.47 | 20,521,939.28 |
（3）Definedcontributionplanslisted
InRMB
| Items | BalanceYear-beginning | Increaseinthisperiod | Payableinthisperiod | Balanceinyear-end |
| 1.Basicold-ageinsurancepremiums | 21,063,708.43 | 21,042,027.88 | 21,680.55 | |
| 2.Unemploymentinsurance | 2,034,233.81 | 2,034,233.81 | ||
| 3.Enterpriseannuitypayment | 10,107,369.11 | 5,877,455.28 | 4,229,913.83 | |
| Total | 33,205,311.35 | 28,953,716.97 | 4,251,594.38 |
21.TaxPayable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| VAT | 12,150,830.52 | 13,544,679.07 |
| EnterpriseIncometax | 170,704,821.88 | 136,932,738.04 |
| IndividualIncometax | 390,223.54 | 2,928,147.86 |
| CityConstructiontax | 759,161.51 | 863,204.59 |
| Educationsubjoin | 368,939.27 | 417,048.11 |
| LocalityEducationsubjoin | 227,516.65 | 259,424.11 |
| Propertytax | 872,389.63 | 14,778.41 |
| Stamptax | 5,618.07 | 163,570.46 |
| Landusetax | 630,052.55 | |
| Total | 186,109,553.62 | 155,123,590.65 |
22.Otheraccountspayable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Dividendpayable | 1,213,945,107.40 | 27,809,510.32 |
| Otheraccountpayable | 134,990,794.27 | 122,484,006.11 |
| Total | 1,348,935,901.67 | 150,293,516.43 |
（1）Interestpayable
None
（2）Dividendspayable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Commonstockdividends | 1,213,945,107.40 | 27,809,510.32 |
| Total | 1,213,945,107.40 | 27,809,510.32 |
（3）Otheraccountspayable
(1)Otheraccountspayablelistedbynatureoftheaccount
InRMB
| Items | Year-endbalance | Year-Beginningbalance |
| Estimatedprojectcost | 38,379,522.86 | 35,695,527.11 |
| Deposit,warrantyandsecuritydeposit | 67,849,200.35 | 62,110,555.42 |
| Other | 28,762,071.06 | 24,677,923.58 |
| Total | 134,990,794.27 | 122,484,006.11 |
(2)Othersignificantaccountspayablewithagingoveroneyear
InRMB
| Items | Closingbalance | Unpaid/un-carryoverreason |
| PolyChangdaHighwayEngineeringCo.,Ltd. | 14,887,239.99 | Thesettlementconditionsarenotmet |
| YayaotoXiebianextension | 12,196,943.29 | Thesettlementconditionsarenotmet |
| GuangdongGuanyueRoad&BridgeCo.,Ltd. | 6,434,227.91 | Thesettlementconditionsarenotmet |
| JiangmenXinhuiPeople'sGovernment | 3,909,400.00 | Thesettlementconditionsarenotmet |
| ChinaRailway18thBureauGroupCo.,Ltd | 3,735,837.56 | Thesettlementconditionsarenotmet |
| GuangdongHualuTrafficTechnologyCo.,Ltd. | 3,224,428.06 | Thesettlementconditionsarenotmet |
| GuangdongNengdaHighwayMaintenanceCo.,Ltd. | 3,026,380.10 | Thesettlementconditionsarenotmet |
| CCCCFirstNavigationEngineeringBureauCo.,Ltd. | 2,845,541.18 | Thesettlementconditionsarenotmet |
| CCCCRoad&BridgeConstructionCo.,Ltd. | 2,500,000.00 | Thesettlementconditionsarenotmet |
| GuangdongZhuboRoad&BridgeEngineeringCo.,Ltd. | 2,240,202.12 | Thesettlementconditionsarenotmet |
| GuangdongHighwayConstructionCo.,Ltd. | 2,000,000.00 | Thesettlementconditionsarenotmet |
| HeshanLand&ResourcesBureau | 2,000,000.00 | Thesettlementconditionsarenotmet |
| Items | Closingbalance | Unpaid/un-carryoverreason |
| Total | 59,000,200.21 |
23.Non-currentliabilitiesduewithin1year
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Long-termloansduewithin1year | 188,020,395.37 | 151,828,779.87 |
| PayableBondsduewithin1year | 756,181,843.56 | 720,607,149.69 |
| Long-termpayableduewithin1year | 495,283.01 | |
| Leaseliabilitiesduewithin1year | 13,298,853.19 | 10,480,947.08 |
| Total | 957,501,092.12 | 883,412,159.65 |
24.Othercurrentliabilities
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Taxtoberewritten | 160,930.05 | 368,676.26 |
| Total | 160,930.05 | 368,676.26 |
25.Long-termloan
(1)Categoryoflong-termloan
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Creditloan | 6,618,719,950.00 | 6,090,651,225.00 |
| Interestpayablewhennotdue | 5,271,595.37 | 5,893,604.87 |
| Less:Long-termloansduewithinoneyear | 188,020,395.37 | 151,828,779.87 |
| Total | 6,435,971,150.00 | 5,944,716,050.00 |
Otherexplanations,includinginterestraterange:onJune30,2024,theannualinterestraterangeofcreditloanswas2.60%-3.40%.
26.Bondpayable
（1）Bondpayable
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Medium-termnote | 749,647,596.99 | 1,429,328,483.63 |
| Interestpayablewhennotdue | 6,534,246.57 | 40,680,000.01 |
| Less:Long-termloansduewithinoneyear | 756,181,843.56 | 720,607,149.69 |
| Total | 749,401,333.95 |
（2）Changesofbondspayable(Notincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliability
InRMB
| Nameofthebond | Bookvalue | Interestrate | Issuedate | Period | Issueamount | Openingbalance | Thecurrentissue | Withdrawinterestatpar | Overflowdiscountamount | Payincurrentperiod | Closingbalance | Whetherdefault |
| 19GuangdongExpresswayMTN001 | 680,000,000.00 | 4.00% | February27,2019 | 2019.3.1-2024.3.1 | 680,000,000.00 | 702,730,437.38 | 4,396,712.30 | -72,850.32 | 707,200,000.00 | No | ||
| 20GuangdongExpresswayMTN001 | 750,000,000.00 | 3.00% | March13,2020 | 2020.3.17-2025.3.17 | 750,000,000.00 | 767,278,046.26 | 11,157,534.26 | -246,263.04 | 22,500,000.00 | 756,181,843.56 | No | |
| Less:Bondspayableandduewithin1year | 720,607,149.69 | 756,181,843.56 | ||||||||||
| Total | 1,430,000,000.00 | 749,401,333.95 | 15,554,246.56 | -319,113.36 | 729,700,000.00 |
(3)NotetoconditionsandtimeofsharetransferofconvertiblebondsNone
（4）OtherfinancialinstrumentsthatareclassifiedasfinancialliabilitiesNone
27.Leaseliabilities
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Long-termleaseliabilities | 22,143,050.96 | 24,964,446.02 |
| Less：Financingcostsarenotrecognized | 626,192.40 | 1,001,295.97 |
| Less:Long-termloansduewithinoneyear | 13,298,853.19 | 10,480,947.08 |
| Total | 8,218,005.37 | 13,482,202.97 |
28.Long-termpayable
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Long-termpayable | 2,022,210.11 | 2,022,210.11 |
| Total | 2,022,210.11 | 2,022,210.11 |
(1)Long-termpayablelistedbynatureoftheaccount
InRMB
| Items | Balanceyear-end | Year-beginningbalance |
| Non-operatingassetpayable | 2,022,210.11 | 2,022,210.11 |
| Mediumtermbillunderwritingfee | 495,283.01 | |
| Less:Long-termloansduewithinoneyear | 495,283.01 | |
| Total | 2,022,210.11 | 2,022,210.11 |
29.Deferredincome
InRMB
| Items | Openingbalance | Increase | Decrease | Closingbalance | Cause |
| Governmentsubsidy | 395,976,324.09 | 5,031,151.95 | 390,945,172.14 | ||
| Leaseincome | 33,103,584.45 | 3,884,608.74 | 29,218,975.71 | ||
| Total | 429,079,908.54 | 8,915,760.69 | 420,164,147.85 |
30.Stockcapital
InRMB
| BalanceYear-beginning | Changed（+，-） | Balanceinyear-end | |||||
| Issuanceofnewshare | Bonusshares | Capitalizationofpublicreserve | Other | Subtotal | |||
| Totalofcapitalshares | 2,090,806,126.00 | 2,090,806,126.00 | |||||
31.Capitalreserves
InRMB
| Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
| Sharepremium | 548,804,033.11 | 548,804,033.11 | ||
| (1)Capitalinvestedbyinvestors | 2,508,408,342.99 | 2,508,408,342.99 | ||
| (2)theimpactofabusinesscombinationunderthecommoncontrol | -1,959,604,309.88 | -1,959,604,309.88 | ||
| Othercapitalreserves | 234,321,460.59 | 297,509.58 | 234,023,951.01 | |
| (1)Changesinotherequityoftheinvestedundertheequitymethodaccounting（Note1,Note2andNote3） | -3,134,180.11 | 297,509.58 | -3,431,689.69 | |
| （2）Other | 237,455,640.70 | 237,455,640.70 | ||
| Total | 783,125,493.70 | 297,509.58 | 782,827,984.12 |
-Thesituationofchangeinthecurrentcapitalreserveisasfollows:
Note1.HunanLianzhiTechnologyCo.,Ltd,anassociateofYuegaoCapital(Holdings)GuangzhouCo.,Ltd-asubsidiarytotheCompany,repurchasedtheequityofothershareholders,resultinginachangeinthelong-termequityinvestmentofthesubsidiaryaccountedforbytheequitymethod,withadecreaseinthecapitalreserveof
287,400.02yuan.
Note2.HunanLianzhiTechnologyCo.,Ltd.,anassociateofYuegaoCapital(Holdings)GuangzhouCo.,Ltd.-asubsidiaryoftheCompany,changeditscapitalreserveforthecurrentperiod,andtheCompanyadjustedthebookvalueofitslong-termequityinvestmentaccordingtoitsshareholdingratio,resultinginadecreaseincapitalreserveofRMB13,111.96.Note3.ThecapitalreserveofYuetongQiyuanCorePowerTechnologyCo.,Ltd.,anassociateofthesubsidiaryYuegaoCapital(Holdings)GuangzhouCo.,Ltd.-asubsidiaryoftheCompany,waschangedduringtheperiod,andtheCompanyadjustedthebookvalueofthelong-termequityinvestmentaccordingtotheproportionofitsshareholding,resultinginanincreaseincapitalreserveofRMB3,002.40.
32.Othercomprehensiveincome
InRMB
| Items | Year-beginningbalance | Amountofcurrentperiod | Year-endbalance | |||||
| Amountincurredbeforeincometax | Less：Amounttransferredintoprofitandlossinthecurrentperiodthatrecogniedintoothercomprehensiveincomeinpriorperiod | Less：Priorperiodincludedinothercompositeincometransfertoretainedincomeinthecurrentperiod | Less：Incometaxexpenses | After-taxattributetotheparentcompany | After-taxattributetominorityshareholder | |||
| 1.Othercomprehensiveincomewillbereclassifiedintoincomeorlossinthefuture | 163,865,781.83 | 91,140,960.54 | 21,596,556.18 | 69,544,404.36 | 233,410,186.19 | |||
| Othercomprehensiveincomethatcannotbeconvertedtoprofitandlossundertheequitymethod | 4,754,735.83 | 4,754,735.83 | 4,754,735.83 | |||||
| Changesinfairvalueofinvestmentsinotherequityinstruments | 163,865,781.83 | 86,386,224.71 | 21,596,556.18 | 64,789,668.53 | 228,655,450.36 | |||
| 2.Othercomprehensiveincomereclassifiabletoprofitorlossinsubsequentperiods | -297,380.50 | 12,368,583.96 | 12,368,583.96 | 12,071,203.46 | ||||
| Including：Shareofothercomprehensiveincomeoftheinvesteethatcannotbetransferredtoprofitorlossaccountedforusingtheequitymethod | -297,380.50 | 12,368,583.96 | 12,368,583.96 | 12,071,203.46 | ||||
| Totalofothercomprehensiveincome | 163,568,401.33 | 103,509,544.50 | 21,596,556.18 | 81,912,988.32 | 245,481,389.65 |
Otherexplanations,includingtheadjustmentoftheeffectivepartofcashflowhedgingprofitandlosstotheinitialrecognitionamountofthehedgeditem:
33.Surplusreserve
InRMB
| Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
| Statutorysurplusreserve | 1,520,627,456.34 | 1,520,627,456.34 | ||
| Total | 1,520,627,456.34 | 1,520,627,456.34 |
34.Retainedprofits
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| Beforeadjustments:Retainedprofitsinlastperiodend | 5,289,404,378.52 | 4,698,029,354.09 |
| Adjustthetotalundistributedprofitsatthebeginningoftheperiod | 5,289,404,378.52 | 4,698,029,354.09 |
| Add：Netprofitbelongingtotheowneroftheparentcompany | 855,465,441.00 | 1,633,811,033.68 |
| Less:Statutorysurplusreserve | 147,570,987.32 | |
| Commonstockdividendpayable | 1,143,670,950.92 | 894,865,021.93 |
| Retainedprofitattheendofthisterm | 5,001,198,868.60 | 5,289,404,378.52 |
35.Operationincomeandoperationcost
（
）Detail
InRMB
| Items | Amountofthisperiod | Amountoflastperiod | ||
| Income | Cost | Income | Cost | |
| Mainoperation | 2,204,260,409.98 | 699,856,213.37 | 2,310,707,369.57 | 726,266,759.50 |
| Otheroperation | 26,605,252.22 | 13,152,796.05 | 29,729,405.51 | 14,403,550.99 |
| Total | 2,230,865,662.20 | 713,009,009.42 | 2,340,436,775.08 | 740,670,310.49 |
（
）Breakdowninformationofoperatingincomeandoperatingcost:
InRMB
| Amountofthisperiod | Amountoflastperiod | |||
| Contractclassification | Income | Cost | Income | Cost |
| Business | ||||
| Including：Tollincome | 2,204,260,409.98 | 699,856,213.37 | 2,310,707,369.57 | 726,266,759.50 |
| Advertisingandotherrevenue | 15,478,999.23 | 11,038,252.86 | 16,696,279.15 | 12,432,246.43 |
| Leaseincome | 11,126,252.99 | 2,114,543.19 | 13,033,126.36 | 1,971,304.56 |
| Total | 2,230,865,662.20 | 713,009,009.42 | 2,340,436,775.08 | 740,670,310.49 |
| Area | ||||
| Including：Guangdong | 2,230,865,662.20 | 713,009,009.42 | 2,340,436,775.08 | 740,670,310.49 |
| Total | 2,230,865,662.20 | 713,009,009.42 | 2,340,436,775.08 | 740,670,310.49 |
36.Businesstaxandsubjoin
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| Urbanconstructiontax | 4,227,749.67 | 4,414,027.47 |
| Educationsurcharge | 2,034,042.57 | 2,126,579.28 |
| Propertytax | 878,639.76 | 579,768.50 |
| Landusetax | 631,353.05 | 523,762.40 |
| Vehicleusetax | 37,925.80 | 42,143.75 |
| Stamptax | 21,502.93 | 136,313.89 |
| Businesstax | 185,247.66 | 185,247.66 |
| LocalityEducationsurcharge | 1,352,839.87 | 1,414,531.04 |
| Total | 9,369,301.31 | 9,422,373.99 |
37.Administrativeexpenses
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Wage | 58,569,461.03 | 55,924,172.80 |
| Depreciationoffixedassets | 4,552,422.70 | 4,754,414.20 |
| Intangibleassetsamortization | 674,206.77 | 754,955.47 |
| Lowconsumablesamortization | 265,968.99 | 305,671.18 |
| RentalfeeandManagementfee | 6,693,110.28 | 5,680,829.07 |
| Businessfee | 367,086.05 | 276,707.37 |
| Officeexpenses | 3,258,077.16 | 3,253,204.38 |
| Travelexpenses | 296,247.06 | 299,557.29 |
| Consultationexpenses | 285,100.00 | |
| Thefeeforhiringagency | 2,947,699.99 | 2,756,001.59 |
| Repairscost | 143,741.27 | 152,240.53 |
| Vehiclefee | 1,116,937.56 | 1,353,271.68 |
| Listingfee | 143,396.22 | 143,396.22 |
| Informationcostandmaintenancefee | 527,208.63 | 559,255.14 |
| Other | 3,107,026.97 | 3,810,168.79 |
| Total | 82,947,690.68 | 80,023,845.71 |
38.R&Dexpenses
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| Wage | 81,651.82 | |
| Total | 81,651.82 |
39.Financialexpenses
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| Interestexpenses | 86,505,113.33 | 109,161,060.69 |
| Interestincome | -32,771,177.29 | -18,067,700.31 |
| ExchangeIncomeandloss（Gain-） | ||
| Bankcommissioncharge | 75,260.20 | 56,504.09 |
| Other | 2,185.00 | 3,226.00 |
| Total | 53,811,381.24 | 91,153,090.47 |
40.Othergains
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| GovernmentSubsidy-CanceltheSpecialSubsidyforProvincialTollStationProjectofExpressway | 5,023,474.53 | 5,023,474.62 |
| GovernmentSubsidy-Charginginfrastructureincentivefunds | 7,677.42 | 5,576.34 |
| Governmentsubsidy--JiujiangBridgestructurehealthmonitoringsystemoptimizationandupgradeofvehiclepurchasetaxsubsidyfunds | 600,000.00 | |
| Governmentsubsidy-Expansionsubsidy | 25,500.00 | |
| Governmentsubsidy-Maternityallowance | 388,641.65 | 577,849.71 |
| Veterans'VATreductionandexemption | 29,250.00 | 39,147.73 |
| Withholdingandremittingenterpriseprepaidincometaxfees | 166,639.84 | 164,638.95 |
| VATadditionaldeduction | 1,845.02 | 13,786.43 |
| Total | 5,617,528.46 | 6,449,973.78 |
41.Investmentincome
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| Long-termequityinvestmentincomebyequitymethod | 112,802,071.88 | 109,631,134.53 |
| Investmentincomeoftradingfinancialassetsduringtheholdingperiod | 601,253.78 | |
| Dividendsearnedduringtheholdingperiodoninvestmentsinotherequityinstrument | 40,699,105.31 | 71,249,739.36 |
| Other | -80,000.00 | |
| Total | 153,501,177.19 | 181,402,127.67 |
42.Creditimpairmentlosses
InRMB
| Items | Amountofthisperiod | Amountoflastperiod |
| Impairmentlossesonaccountreceivable | -1,421,666.67 | -1,945,429.56 |
| Impairmentlossesonotherreceivable | -43,453,436.90 | -43,681,523.62 |
| Total | -44,875,103.57 | -45,626,953.18 |
43.Non-Operationincome
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&losses |
| Non-currentassetsare | 11,338.66 | 11,338.66 |
| damagedandscrappedforprofit | |||
| Insuranceclaimincome | 1,753,159.58 | 967,952.70 | 1,753,159.58 |
| Roadpropertyclaimincome | 1,178,677.32 | 1,126,095.64 | 1,178,677.32 |
| Other | 27,682.96 | 54,244.51 | 27,682.96 |
| Total | 2,970,858.52 | 2,148,292.85 | 2,970,858.52 |
44.Non-Operationexpenses
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod | Recordedintheamountofthenon-recurringgainsandlosses |
| Non-currentassetsaredamagedandscrappedforprofit | -20,648.15 | 15,753.62 | -20,648.15 |
| Including：Fixedassets | -20,648.15 | 15,753.62 | -20,648.15 |
| Roadrehabilitationexpenditure | 1,751,559.00 | 176,042.00 | 1,751,559.00 |
| Fine | 570.97 | ||
| Other | 44,258.11 | 47,856.00 | 44,258.11 |
| Total | 1,775,168.96 | 240,222.59 | 1,775,168.96 |
45.Incometaxexpense
(1)Listsofincometaxexpense
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Currentincometaxexpense | 350,892,709.36 | 287,619,631.20 |
| Deferredincometaxexpense | -1,009,073.13 | 81,420,752.61 |
| Total | 349,883,636.23 | 369,040,383.81 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
InRMB
| Items | Amountofcurrentperiod |
| Totalofprofit | 1,487,167,571.19 |
| Currentincometaxexpenseaccountedbytaxandrelevantregulations | 371,791,892.80 |
| Influenceofincometaxbeforeadjustment | -173,240.93 |
| Influenceofnontaxableincome | -39,944,680.03 |
| Impactofnon-deductiblecosts,expensesandlosses | 8,540,466.59 |
| Effectofdeductiblelossesfromusingpreviouslyunrecognizeddeferredincometaxassets | 9,669,197.80 |
| Incometaxexpense | 349,883,636.23 |
46.Itemsofcashflowstatement
(1)CashrelatedtobusinessactivitiesCashreceivedfromotheractivitiesrelatingtooperation
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Interestincome | 25,962,851.96 | 14,000,060.50 |
| Unitcurrentaccount | 29,712,714.85 | 40,874,222.93 |
| Qijiangnewcitysouthinterchangeconstructionsubsidyfunds | 185,000,000.00 | |
| Total | 55,675,566.81 | 239,874,283.43 |
Othercashpaidinrelationtooperationactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Managementexpense | 11,488,664.49 | 10,883,695.76 |
| Unitcurrentaccount | 25,555,665.99 | 27,999,921.65 |
| Total | 37,044,330.48 | 38,883,617.41 |
（2）CashrelatedtoInvestmentactivitiesCashreceivablerelatedtootherInvestmentactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Bidsecurityrelatedtolong-termassets,etc | 3,692,567.08 | |
| Total | 3,692,567.08 |
Cashpaidrelatedtootherinvestmentactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Bidsecurityrelatedtolong-termassets,etc | 1,700,000.00 | |
| Other | 1,600.00 | |
| Total | 1,701,600.00 |
Importantcashreceivedinrelationtotheinvestmentactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Cashreceivedfromdividendsanddividendsofotherequityinvestments | 26,551,300.00 | |
| Cashreceivedfromdividendsofassociated | 19,579,614.82 | 20,150,000.47 |
| Total | 19,579,614.82 | 46,701,300.47 |
CashPayablerelatedtootherInvestmentactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Cashpaidforotherequityinvestments | 56,080,000.00 | |
| Cashpaidforbyinvestinginassociates | 89,312,000.00 | 45,000,000.00 |
| CashpaidforthereconstructionandexpansionoftheNansha-ZhuhaisectionoftheGuangzhou-MacaoExpressway | 665,071,908.34 | 492,110,381.74 |
| CashpaidforthereconstructionandexpansionoftheLuogang-LingkengsectionoftheGuanghui | 192,355,097.00 |
| Expressway | ||
| Total | 946,739,005.34 | 593,190,381.74 |
（3）CashrelatedtoFinancingactivities
Othercashreceivedinrelationtofinancingactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Interestincomefromspecialborrowing | 1,460,847.67 | |
| Total | 1,460,847.67 |
Othercashpaidrelatedwithfinancingactivities
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Issuancefeeofmedium-termnotes | 537,769.75 | 1,001,869.75 |
| Cashpaidfortheleaseliabilities | 2,951,128.41 | 7,325,653.27 |
| Total | 3,488,898.16 | 8,327,523.02 |
Changesinvariousliabilitiesarisingfromfinancingactivities?Applicable□Notapplicable
InRMB
| Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance | ||
| Cashchanges | Non-cashchanges | Cashchanges | Non-cashchanges | |||
| Otherpayable-Dividendpayable | 27,809,510.32 | 1,476,537,004.13 | 290,401,407.05 | 1,213,945,107.40 | ||
| Short-loans | 110,085,708.33 | 180,000,000.00 | 2,862,020.84 | 2,742,312.50 | 290,205,416.67 | |
| Long-termloans（Includingpartduewithinoneyear） | 6,096,544,829.87 | 600,000,000.00 | 98,272,932.68 | 170,826,217.18 | 6,623,991,545.37 | |
| Bondpayable（Includingpartduewithinoneyear） | 1,470,008,483.64 | 15,873,359.92 | 729,700,000.00 | 756,181,843.56 | ||
| Long-termpayable（Includingpartduewithinoneyear） | 2,517,493.12 | 495,283.01 | 2,022,210.11 | |||
| Leaseliabilities（Includingpartduewithinoneyear） | 23,963,150.05 | 375,103.57 | 2,821,395.06 | 21,516,858.56 | ||
| Total | 7,730,929,175.33 | 780,000,000.00 | 1,593,920,421.14 | 1,196,986,614.80 | 8,907,862,981.67 | |
47.SupplementInformationforcashflowstatement
（1）SupplementInformationforcashflowstatement
InRMB
| SupplementInformation | Amountofcurrentperiod | Amountofpreviousperiod |
| I.Adjustingnetprofittocashflowfromoperatingactivities | ||
| Netprofit | 1,137,283,934.96 | 1,194,178,337.32 |
| Add：Creditlosspreparation | 44,875,103.57 | 45,626,953.18 |
| Impairmentlossprovisionofassets | ||
| Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 512,541,181.48 | 542,423,799.22 |
| DepreciationofUserightassets | 5,374,995.90 | 5,042,953.50 |
| Amortizationofintangibleassets | 12,101,858.87 | 12,833,960.75 |
| AmortizationofLong-termdeferredexpenses | ||
| Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | ||
| Fixedassetsscraploss | -31,986.81 | 15,753.62 |
| Lossonfairvaluechanges | ||
| Financialcost | 85,814,169.34 | 109,276,885.58 |
| Lossoninvestment | -153,501,177.19 | -181,402,127.67 |
| Decreaseofdeferredincometaxassets | 4,543,405.40 | 82,208,258.88 |
| Increasedofdeferredincometaxliabilities | -5,552,478.53 | -787,506.27 |
| Decreaseofinventories | ||
| Deceaseofoperatingreceivables | -44,835,241.50 | -82,590,730.82 |
| IncreasedofoperatingPayable | 4,642,244.19 | 287,090,654.41 |
| Other | ||
| Netcashflowsarisingfromoperatingactivities | 1,603,256,009.68 | 2,013,917,191.70 |
| II.Significantinvestmentandfinancingactivitiesthatwithoutcashflows: | ||
| Conversionofdebtintocapital | ||
| Convertiblecorporatebondsmaturingwithinoneyear | ||
| Financingoffixedassetsleased | ||
| 3．Movementofcashandcashequivalents： | ||
| Endingbalanceofcash | 4,955,371,380.26 | 5,274,773,267.75 |
| Less:Beginningbalanceofcashequivalents | 4,701,657,434.00 | 4,284,688,231.33 |
| Add：Endbalanceofcashequivalents | ||
| Less:Beginningbalanceofcashequivalents | ||
| Netincreaseofcashandcashequivalent | 253,713,946.26 | 990,085,036.42 |
（2）Compositionofcashandcashequivalents
InRMB
| Items | Balanceinyear-end | Balanceinyear-Beginning |
| Cash | 4,955,371,380.26 | 4,701,657,434.00 |
| Ofwhich:Cashinstock | 28,703.17 | 35,130.15 |
| Banksavingscouldbeusedatanytime | 4,954,828,976.28 | 4,701,108,299.37 |
| Othermonetarycapitalcouldbeusedatanytime | 513,700.81 | 514,004.48 |
| Balanceofcashandcashequivalentsattheperiodend | 4,955,371,380.26 | 4,701,657,434.00 |
（3）Monetaryfundsthatarenotcashandcashequivalents
InRMB
| Items | Currentamount | Previousamount | Reasonsotherthancashandcashequivalents |
| Landreclamationfunds | 1,221,200.00 | 1,221,200.00 | Landreclamationfundsinfundcustodyaccount |
| Unexpiredaccruedinterest | 21,604,195.03 | 15,753,098.20 | Notactuallyreceived |
| Total | 22,825,395.03 | 16,974,298.20 |
48.Lease
(1)TheCompanyaslessee?Applicable□NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities
□Applicable?NotapplicableShort-termleaseorleasecostoflow-valueassetswithsimplifiedtreatment
□Applicable?NotapplicableInvolvingafter-saleleasebacktransactions?Applicable□Notapplicable
| Items | Currentamount |
| Interestexpenseofleaseliabilities | 375,103.57 |
| Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities | |
| Short-termleaseorleasecostoflow-valueassetswithsimplifiedtreatment | 131,314.30 |
| Incomefromsublettingright-to-useassets | |
| Totalcashoutflowrelatedtoleasing | 3,089,008.41 |
(2)TheCompanyaslessorOperatingleaseaslessor?Applicable□Notapplicable
InRMB
| Items | Leaseincome | Inwhich:incomerelatedtovariableleasepaymentnotincludedinleasereceipts |
| Operatingleaseincome | 11,126,252.99 | |
| Total | 11,126,252.99 |
Financialleaseaslessor
□Applicable?NotapplicableUndiscountedleasereceiptsforeachofthenextfiveyears
□Applicable?NotapplicableVIII.Equityinotherentities
1.Equityinsubsidiary
(1)Thestructureoftheenterprisegroup
InRMB10,000
| NameofSubsidiary | Registeredcapital | MainPlacesofOperation | RegistrationPlace | NatureofBusiness | ShareholdingRatio(%) | ObtainingMethod | |
| direct | indirect | ||||||
| GuangfoExpresswayCo.,Ltd. | 20,000.00 | Guangzhou | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
| GuanghuiExpresswayCo.,Ltd. | 235,167.80 | Guangzhou | Guangzhou | ExpresswayManagement | 51.00% | Underthesamecontrolbusinesscombination | |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 285,570.00 | Zhongshan | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
| YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | 37,550.00 | Guangzhou | Guangzhou | Investmentmanagement | 100.00% | Establishment | |
Notes:holdingproportioninsubsidiarydifferentfromvotingproportion:NoneBasisofholdinghalforlessvotingrightsbutstillbeencontrolledinvesteeandholdingmorethanhalfofthevotingrightsnotbeencontrolledinvestee:NoneSignificantstructureentitiesandcontrollingbasisinthescopeofcombination:NoneBasisofdeterminewhethertheCompanyistheagentortheprincipal:None
(2)ImportantNon-wholly-ownedSubsidiary
InRMB
| NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitorLossOwnedbytheMinorityShareholdersintheCurrentPeriod | DividendsDistributedtotheMinorityShareholdersintheCurrentPeriod | EquityBalanceoftheMinorityShareholdersintheEndofthePeriod |
| GuangfoExpresswayCo.,Ltd. | 25.00% | -10,530,011.61 | 23,808,694.21 | |
| GuangdongGuanghuiExpresswayCo.,Ltd. | 49.00% | 219,266,641.83 | 202,463,907.05 | 2,072,993,626.63 |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 25.00% | 73,081,863.74 | 129,110,889.29 | 502,652,824.47 |
HoldingproportionofminorityshareholderinsubsidiarydifferentfromvotingproportionNone
(3)Themainfinancialinformationofsignificantnotwhollyownedsubsidiary
InRMB
| Name | Year-endbalance | |||||
| Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
| GuangfoExpresswayCo.,Ltd. | 106,751,420.91 | 13,867,334.12 | 120,618,755.03 | 25,383,978.20 | 25,383,978.20 | |
| GuangdongGuanghuiExpresswayCo.,Ltd. | 2,042,882,660.13 | 2,481,558,162.07 | 4,524,440,822.20 | 172,744,863.19 | 121,096,721.00 | 293,841,584.19 |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 502,199,188.53 | 4,274,218,539.53 | 4,776,417,728.06 | 1,211,768,625.88 | 1,554,037,804.31 | 2,765,806,430.19 |
（Continued）
| Name | Year-beginningbalance | |||||
| Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
| GuangfoExpresswayCo.,Ltd. | 148,592,352.43 | 14,240,888.13 | 162,833,240.56 | 25,478,417.30 | 25,478,417.30 | |
| GuangdongGuanghuiExpresswayCo.,Ltd. | 2,039,529,187.55 | 2,500,576,138.59 | 4,540,105,326.14 | 211,040,982.63 | 132,756,400.96 | 343,797,383.59 |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 388,634,507.85 | 3,710,550,073.86 | 4,099,184,581.71 | 1,229,752,786.81 | 986,454,394.82 | 2,216,207,181.63 |
InRMB
| Name | Amountofcurrentperiod | Amountofpreviousperiod | ||||||
| Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | |
| GuangfoExpresswayCo.,Ltd. | 1,075,325.65 | -42,120,046.43 | -42,120,046.43 | 1,253,117.75 | 1,472,953.28 | -40,639,507.32 | -40,639,507.32 | -2,029,459.25 |
| GuangdongGuanghuiExpresswayCo.,Ltd. | 897,321,456.20 | 447,482,942.51 | 447,482,942.51 | 622,120,569.23 | 1,024,822,529.29 | 507,331,189.13 | 507,331,189.13 | 777,984,620.05 |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 585,937,746.82 | 292,327,454.95 | 292,327,454.95 | 439,692,114.09 | 574,690,822.31 | 280,406,973.97 | 280,406,973.97 | 495,884,944.24 |
(4)SignificantrestrictionsofusingenterprisegroupassetsandpayoffenterprisegroupdebtNone
(5)ProvidefinancialsupportorothersupportforstructureentitiesincorporateintothescopeofconsolidatedfinancialstatementsNoneOthernote
2.ThetransactionoftheCompanywithitsowner’sequitysharechangedbutstillcontrollingthesubsidiary
(1)SignificantjointventurearrangementorassociatedenterpriseNone
（2）Affectofthetransactionontheminorityequityandowner'sequityattributabletotheparentcompanyNone
3.Equityinjointventurearrangementorassociatedenterprise
(1)Significantjointventurearrangementorassociatedenterprise
| Name | Mainoperatingplace | Registrationplace | Businessnature | Proportion | Accountingtreatmentoftheinvestmentofjointventureorassociatedenterprise | |
| Directly | Indirectly | |||||
| ZhaoqingYuezhaoHighwayCo.,Ltd. | Zhaoqing,Guangdong | Zhaoqing,Guangdong | ExpresswayManagement | 25.00% | Equitymethod | |
| ShenzhenHuiyanExpresswayCo.,Ltd. | Shenzhen | Shenzhen | ExpresswayManagement | 33.33% | Equitymethod | |
| GuangdongJiangzhongExpresswayCo.,Ltd. | Zhongshan, | Zhongshan, | ExpresswayManagement | 15.00% | Equitymethod | |
| GanzhoukangdaExpresswayCo.,Ltd. | Gangzhou | Ganzhou | ExpresswayManagement | 30.00% | Equitymethod | |
| GanzhouGankangExpresswayCo.,Ltd. | Gangzhou | Ganzhou | ExpresswayManagement | 30.00% | Equitymethod | |
| GuangdongYuepuScienceandTechnologyMicrofinanceCo.,Ltd. | Guangzhou | Guangzhou | Handallkindsofsmallloans | 15.48% | Equitymethod | |
| GuangyuanSecuritiesCo.,Ltd. | Hefei | Hefei | Securitybusiness | 2.37% | Equitymethod | |
| HunanLianzhiTechnologyCo.,Ltd. | Changsha | Changsha | Researchandexperimentaldevelopment | 13.11% | Equitymethod | |
| SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd | Guangzhou | Guangzhou | NewEnergyservice | 7.14% | Equitymethod | |
| ShenzhenGarageElectricPileTechnologyCo.,Ltd | Shenzhen | Shenzhen | SoftwareandInformationtechnology | 17.40% | Equitymethod | |
Notestoholdingproportionofjointventureorassociatedenterprisedifferentfromvotingproportion:
None
Basisofholdinglessthan20%ofthevotingrightsbuthasasignificantimpactorholding20%ormorevotingrightsbutdoesnothaveasignificantimpact:
GuangdongJiangzhongExpresswayCo.,Ltd.,GuangyuanSecuritiesCo.,Ltd.，YuepuSmallRefinancingCo.,Ltd.andHunanLianzhiTechnologyCo.,Ltd.SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.andShenzhenGarageElectricPileTechnologyCo.,Ltd.holds20%ofthevotingrights,buthasthepowertoparticipateinmakingdecisionsontheirfinancialandoperatingdecisions,andthereforedeemedtobeabletoexertsignificantinfluenceovertheinvestee.
(2)Mainfinancialinformationofsignificantjointventure
None
(3)Mainfinancialinformationofsignificantassociatedenterprise
InRMB
| Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |
| GuoyuanSecuritiesCo.,Ltd. | GuoyuanSecuritiesCo.,Ltd. | |
| Currentassets | ||
| Non-currentassets | ||
| Totalassets | 149,899,188,846.34 | 133,200,177,000.85 |
| Currentliabilities | ||
| Non-currentLiabilities | ||
| Totalliabilities | ||
| MinorityShareholders’Equity | ||
| Shareholders’equityattributabletoshareholdersoftheparent | 35,646,559,004.05 | 34,578,952,207.02 |
| Proratashareofthenetassetscalculated | 845,322,117.04 | 820,004,900.93 |
| Adjustmentitems | ||
| --Goodwill | 207,095,632.54 | 207,095,632.54 |
| --Internaltransactionsdidnotachieveprofits | ||
| --Other | ||
| Thebookvalueofequityinvestmentsinjointventures | 1,052,417,749.58 | 1,027,100,533.47 |
| Fairvalueofequityinvestmentofassociatedenterpriseswithopenquotation | 627,104,446.92 | 706,786,035.06 |
| Buinsessincme | 3,084,447,258.13 | 3,110,841,516.79 |
| Netprofit | 1,000,675,806.65 | 914,347,343.11 |
| Netprofitfromterminatedoperations | ||
| Othercomprehensiveincome | 722,087,847.89 | 510,710,079.37 |
| Totalcomprehensiveincome | 1,722,763,654.54 | 1,425,057,422.48 |
| Dividendsreceivedfromassociatesduringtheyear | 15,522,387.30 | 15,522,387.30 |
(4)Summaryfinancialinformationofinsignificantjointventureorassociatedenterprise
InRMB
| Year-endbalance/Amountofcurrent | Year-beginningbalance/Amountof |
| period | previousperiod | |
| Jointventure： | ||
| Totalamountoftheproratacalculationofthefollowingitems | ||
| Associatedenterprise： | ||
| Totalbookvalueoftheinvestment | 2,242,520,805.69 | 2,068,477,754.53 |
| Totalamountoftheproratacalculationofthefollowing--Netprofitms | ||
| --Netprofit | 89,085,788.26 | 87,613,916.46 |
| --Totalcomprehensiveincome | 89,085,788.26 | 87,613,916.46 |
(5)NotetothesignificantrestrictionsoftheabilityofjointventureorassociatedenterprisetransferfundstotheCompanyNone
(6)TheexcesslossofjointventureorassociatedenterpriseNone
(7)TheunrecognizedcommitmentrelatedtojointventureinvestmentNone
(8)ContingentliabilitiesrelatedtojointventureorassociatedenterpriseinvestmentNone
4.SignificantcommonoperationNone
5.EquityofstructureentitynotincludinginthescopeofconsolidatedfinancialstatementsNone
6.OthernoteNoneIX.Governmentsubsidies
1.Attheendofthereportingperiod,governmentsubsidiesrecognizedaccordingtotheamountreceivable
□Applicable?NotapplicableReasonsfornotreceivingtheestimatedamountofgovernmentsubsidiesattheexpectedtime
□Applicable?Notapplicable
2.Liabilitiesinvolvinggovernmentsubsidies?Applicable□Notapplicable
InRMB
| Accountingsubject | Beginningbalance | Newsubsidyamountinthecurrent | Amountincludedinnon-operatingincomeinthe | Amounttransferredtootherincomeinthecurrent | Otherchangesinthecurrent | Closingbalance | Relatedtoassets/income |
| period | currentperiod | period | period | ||||
| Deferredincome | 395,976,324.09 | 5,031,151.95 | 390,945,172.14 | Asset-related | |||
| Total | 395,976,324.09 | 5,031,151.95 | 390,945,172.14 |
3.Governmentsubsidiesincludedincurrentprofitsandlosses?Applicable□Notapplicable
InRMB
| Accountingsubject | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Otherincome | 5,419,793.60 | 6,232,400.67 |
X.RisksRelatedtoFinancialInstruments
1.RisksRelatedtoFinancialInstrumentsThecompanyhasthemainfinancialinstruments,suchasbankdeposits,receivablesandpayables,investments,loansandsoon.PleaserefertotherelevantdisclosureinNotesforthedetails.Therisksassociatedwiththesefinancialinstrumentsmainlyincludecreditrisk,marketriskandliquidityrisk.Thecompany’smanagementshallmanageandmonitortheserisksandensureaboveriskstobecontrolledwithincertainscope.ThetargetsandpoliciesofriskmanagementThetargetofriskmanagementistoobtaintheproperbalancebetweentheriskandbenefit,toreducethenegativeimpactthatiscausedbytheriskoftheCompanytothelowestlevel,andtomaximizethebenefitsofshareholdersandotherequityinvestors.Basedonthetargetsofriskmanagement,thebasicstrategyoftheCompany’sriskmanagementistoidentifyandanalyzetheriskswhicharefacedbytheCompany,establishsuitablerisktolerancebaselineandproceedtheriskmanagement,andsuperviseavarietyofriskstimelyandreliably,andcontroltheriskswithinalimitedrange.
1.Marketrisk
（1）ForeignexchangeriskForeignexchangeriskreferstotheriskoflossduetoexchangeratefluctuationsgenerally.OurforeignexchangeriskismainlyrelatedtoHongKongDollar.BesidesannualdistributionofB-shareshareholderdividends,othermajorbusinessactivitiesofourCompanyaresettledinRMB.Duringthereportingperiod,duetotheshortcreditperiodoftheCompany'sincomeandexpenditurerelatedtoforeigncurrency,itwasnotaffectedbyforeignexchangerisk.
（2）Interestraterisk-RiskofcashflowchangesTheCompany'sriskofcashflowchangesinfinancialinstrumentscausedbyinterestratechangesismainlyrelatedtofloatingratebankborrowings.TheCompany'spolicyistomaintainthefloatinginterestrateoftheseborrowings,andatthesametimetoreasonablyreducetheriskofinterestratefluctuationbyshorteningthetermofasingleloanandspecificallyagreeingonprepaymentterms.
（3）OtherpriceriskTheinvestmentsheldbytheCompanyareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechanges
areincludedinothercomprehensiveincomeandaremeasuredatfairvalueonthebalancesheetdate.Therefore,theCompanybearstheriskofchangesinthesecuritiesmarket.
2.CreditriskAsofJune30,2024,thelargestcreditriskexposurethatmaycausefinanciallossesoftheCompanymainlycomesfromthelossoffinancialassetsoftheCompanycausedbythefailureoftheotherpartytoperformitsobligations.Inordertoreducecreditrisk,theCompanyonlydealswithrecognizedandreputablecustomers.Inaddition,theCompanyreviewstherecoveryofeachsinglereceivablesoneachbalancesheetdatetoensurethatadequatebaddebtprovisionsaremadeforunrecoverableamounts.Consequently,theCompany'smanagementbelievesthattheCompany'screditriskhasbeengreatlyreduced.TheGroup'sworkingcapitalisdepositedinbankswithhighercreditrating,sothecreditriskofworkingcapitalisrelativelylow.Financialassetsoverdueorimpaired;
(1)Aginganalysisoffinancialassetswithoverdueimpairment:Notexisted
(2)Analysisoffinancialassetsthathavesufferedsingleimpairment:Referto"4,OtherReceivables"inVand"7,InvestmentinOtherEquityInstruments"inVII(6)ofthissectionfordetails.
3.LiquidityriskWhenmanagingliquidityrisks,theCompanymaintainssufficientcashandcashequivalentsasdeemedbythemanagementandmonitorthemtomeettheCompany'soperationalneedsandreducetheimpactofcashflowfluctuations.ThemanagementoftheCompanymonitorstheuseofbankloansandensurescompliancewiththeloanagreement.XI.Thedisclosureofthefairvalue
1.Closingfairvalueofassetsandliabilitiescalculatedbyfairvalue
InRMB
| Items | Closingfairvalue | |||
| Firvaluemeasurementitemsatlevel1 | Firvaluemeasurementitemsatlevel2 | Firvaluemeasurementitemsatlevel3 | Total | |
| I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
| (I)Tradingfinancialassets | 183,856,768.00 | 183,856,768.00 | ||
| 1.Financialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | 183,856,768.00 | 183,856,768.00 | ||
| （2）Equityinstrumentinvestment | 183,856,768.00 | 183,856,768.00 | ||
| （III）Otherequityinstrumentinvestment | 745,758,172.48 | 875,024,939.86 | 1,620,783,112.34 | |
| Totalassetscontinuouslymeasuredatfairvalue | 745,758,172.48 | 875,024,939.86 | 1,620,783,112.34 | |
| II.Non–persistentmeasure | -- | -- | -- | -- |
2.Marketpricerecognitionbasisforconsistentandinconsistentfairvaluemeasurementitemsatlevel1.Asattheendoftheperiod,thecompanyholdsshares235,254,944sharesofChinaEverbrightBankAccordingtotheclosingpriceofJune30,2024of3.17yuan,thefinalcalculationoffairvaluewas745,758,172.48yuan.
3.Fairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalue,Thevaluationtechniquesadoptedandthequalitativeandquantitativeinformationofimportantparametersforcontinuousandnon-continuouslevel3fairvaluemeasurementitems
InRMB
| Items | FairvalueasofJune30,2024 | Valuationtechnology | Unobservableinputvalue |
| Unlistedequityinvestment | 1,058,881,707.86 | Hireathirdpartyforevaluationorenjoytheshareofthenetbookassetsoftheinvesteebasedontheshareholdingratio | Netbookassetsoftheinvestedunit |
4.FairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalueTheCompany'sfinancialassetsandliabilitiesmeasuredinamortizedcostmainlyinclude:accountsreceivable,otherreceivables,contractassets,short-termloans,accountspayable,otherpayables,non-currentliabilitiesduewithinoneyear,long-termloans,bondspayableandlong-termpayables.Thereisnosignificantdifferencebetweenthebookvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalueandthefairvalue.XII.Relatedpartiesandrelated-partytransactions
1.Parentcompanyinformationoftheenterprise
| Name | Registeredaddress | Nature | Redistrictedcapital | TheparentcompanyoftheCompany'sshareholdingratio | TheparentcompanyoftheCompany’svoteratio |
| GuangdongcommunicationGroupCo.,Ltd | Guangzhou | Equitymanagement,trafficinfrastructureconstructionandrailwayprojectoperation | 26.8billionyuan | 24.56% | 50.12% |
Notes：
GuangdongCommunicationGroupCo.,Ltd.isthelargestshareholderoftheCompany.legalrepresentative:DengXiaohua.Dateofestablishment:June23,2000.AsofJune30,2024,Registeredcapital:26.8billionyuan.Itisasolelystate-ownedlimitedcompany.Businessscope：equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Thevalue-addedcommunicationbusiness.
ThefinialcontroloftheCompanywasStateownedassetssupervisionandAdministrationCommissionofGuangdongProvincialPeople'sGovernment.
2.SubsidiariesoftheCompanySubsidiariesofthisenterprise,seeVIII(1)therightsofotherentity
3.InformationonthejointventuresandassociatedenterprisesoftheCompany
DetailsrefertotheVIII-3,InterestsinjointventuresorassociatesInformationonotherjointventureandassociatedenterpriseofoccurringrelatedpartytransactionswiththeCompanyinreportingperiod,orformbalanceduetorelatedpartytransactionsinpreviousperiod:
| Name | RelationwiththeCompany |
| ShenzhenHuiyanExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
| ZhaoqingYuezhaoHighwayCo.,Ltd. | AssociatedenterprisesoftheCompany |
| GanzhouKangdaExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
| GanzhouGankangExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
| GuangdongJiangzhongExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
4.OtherRelatedparties
| Name | RelationwiththeCompany |
| GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongExpresswayMediaCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongHumenBridgeCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongHualuTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongCommunicationsTestingCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongLitongDevelopmentInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongHighwayScienceandEducationCenterCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongLitongTechnologyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongLitongPropertyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongUnionElectronServiceInformationtechnologyCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongLulutongCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongLuoyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongProvincialFreewayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongHighwayConstructionCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongCommunicationGroupFinanceCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongXinyueTrafficInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| Name | RelationwiththeCompany |
| GuangdongYueyunTrafficRescueCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangzhouXinyueTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangzhouXinyueAsphaltCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongTrafficDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| GuangdongYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
| PolyChangdaEngineeringCo.,Ltd. | Sharesofparentcompany |
| GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Sharesofparentcompany |
| GuangdongChangdaRoadConservationCo.,Ltd. | Sharesofparentcompany |
| GuangzhouAitesiCommunicationequipmentCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
| GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
| GuangdongFeidaTrafficEngineeringCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
| GuangdongRoadNetworkDigitalMediaInformationTechnologyCo.Ltd | Fullyownedsubsidiaryoftheparentcompany |
| HunanLianzhiTechnologyCo.,Ltd. | AwhollyownedsubsidiaryoftheCompany |
| GuangzhongjiangExpresswayProjectManagementDept | Managedbytheparentcompany |
5.Listofrelated-partytransactions
(1)InformationonacquisitionofgoodsandreceptionoflaborserviceAcquisitionofgoodsandreceptionoflaborservice
InRMB
| Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod |
| 1.Businesscost | |||
| GuangdongUnionelectronicservicesco.,Ltd. | Service | 12,275,722.05 | 13,229,622.13 |
| GuangdongYueyunTrafficRescueCo.,Ltd. | Rescueservicefee | 2,522,231.00 | 1,803,701.00 |
| PolyChangdaEngineeringCo.,Ltd. | Projectfund,service | 2,294,955.00 | 242,574.00 |
| GuangdongXinyueTrafficInvestmentCo.,Ltd. | Projectfund,service | 1,704,368.33 | 1,767,361.32 |
| GuangdongFeidaTrafficEngineeringCo.,Ltd. | Maintenance | 1,694,722.00 | |
| GuangdongHualuTrafficTechnologyCo.,Ltd. | Project | 1,108,098.00 | 306,348.00 |
| GuangdongHumenBridgeCo.,Ltd. | Service | 609,023.79 | 330,692.01 |
| GuangdongLitongTechnologyInvestmentCo.,Ltd. | Maintenance | 148,273.60 | 499,250.40 |
| GuangdongHighwayScienceandEducationCenterCo.,Ltd. | Trairingexpense | 23,100.00 | |
| GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Service | 10,000.00 | |
| GuangdongExpdresswayTechnologyInvestmentCo.,Ltd. | Depreciationcost | -36,790.74 |
| Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod |
| GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Service | 176,962.71 | |
| Subtotal | 22,353,703.03 | 18,356,511.57 | |
| 2.Financialcost | |||
| GuangdongCommunicationGroupFinanceCo.,Ltd. | BorrowingInterestexpresses | 5,992,273.61 | 6,590,997.21 |
| GuangdongCommunicationGroupFinanceCo.,Ltd. | Depositinterestincome | -19,060,829.63 | -9,965,887.73 |
| GuangdongCommunicationGroupFinanceCo.,Ltd. | Commissioncharge | 1,320.00 | 3,785.00 |
| GuangdongCommunicationGroupCo.,Ltd. | Interest | 7,402,083.32 | |
| Subtotal | -13,067,236.02 | 4,030,977.80 | |
| 3.Administrativeexpenses | |||
| GuangdongHighwayScienceandEducationCenterCo.,Ltd. | Trainingexpense | 232,570.00 | |
| GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Maintenance，Service | 140,490.57 | |
| GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Service | 111,078.80 | 74,591.29 |
| GuangdongLitongPropertyDevelopmentCo.,Ltd. | ManagementFee,waterandelectricity | 84,476.00 | |
| GuangdongHighwayConstructionCo.,Ltd. | Trainingexpense | 29,310.00 | |
| Subtotal | 597,925.37 | 74,591.29 | |
| 4）Constructioninprocess | |||
| PolyChangdaEngineeringCo.,Ltd. | Purchaseassets | 228,857,141.00 | |
| GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Purchaseassets | 3,176,898.00 | 5,422,739.00 |
| GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Purchaseassets | 1,255,000.00 | |
| GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchaseassets | 303,342.00 | |
| GuangdongCommunicationGroupFinanceCo.,Ltd. | Interestcapitalized | 236,805.56 | |
| GuangdongCommunicationsTestingCo.,LTTd. | Purchaseassets | 2,028,475.00 | |
| GuangdongHighwayConstructionCo.,Ltd. | Purchaseassets | 480,000.00 | |
| Subtotal | 233,829,186.56 | 7,931,214.00 | |
| 5）Non-operatingexpenses | |||
| PolyChangdaEngineeringCo.,Ltd. | Constructionliquidateddamages | 1.00 | |
| Subtotal | 1.00 |
Relatedtransactionsonsalegoodsandreceivingservices
InRMB
| Relatedparty | Content | Amountofcurrentperiod | Amountofprevious |
| period | |||
| 1.Businessincome | |||
| JingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | Commissionmanagementfee | 10,983,491.20 | 10,977,500.00 |
| GuangdongTrafficDevelopmentCo.,Ltd. | electricity | 585,883.25 | 486,046.23 |
| ZhaoqingYuezhaoHighwayCo.,Ltd. | Salariesofexpatriatestaff | 642,558.25 | 613,816.63 |
| GanzhouGankangExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 627,422.20 | 578,774.80 |
| ShenzhenHuiyanExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 602,004.93 | 464,466.28 |
| GuangdongTongyiExpresswayServiceAreaCo.,Ltd | electricity | 565,006.00 | 479,678.14 |
| GanzhouKangdaExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 168,794.31 | 142,237.06 |
| GuangdongJiangzhongExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 85,317.61 | 168,312.27 |
| PolyChangdaEngineeringCo.,Ltd. | waterandelectricitybills | 9,087.96 | 21,011.51 |
| GuangdongYueyunTrafficRescueCo.,Ltd. | Waterandelectricity | 6,530.45 | 5,770.73 |
| GuangdongExpresswayMediaCo.,Ltd. | Waterandelectricity | 1,387.31 | 4,637.51 |
| Subtotal | 14,277,483.47 | 13,942,251.16 | |
| 2）Non-operatingincome | |||
| GuangdongFeidaTrafficEngineeringCo.,Ltd | Constructionliquidateddamages | 4,000.00 | |
| PolyChangdaEngineeringCo.,Ltd. | Constructionliquidateddamages | 2,500.00 | |
| Subtotal | 6,500.00 |
(2)InformationofrelatedleaseTheCompanywaslessor：
InRMB
| Nameoflessee | Categoryofleaseassets | Theleaseincomeconfirmedinthisyear | Theleaseincomeconfirmedinlastyear |
| GuangdongExpresswayTechnologyCo.,Ltd. | Advertisinglease | 945,860.93 | 543,695.69 |
| PolyChangdaEngineeringCo.,Ltd. | LandandEquipmentlease | 600,002.15 | 555,557.14 |
| GuangdongExpresswayMediaCo.,Ltd. | Advertisinglease | 498,654.95 | 1,292,283.51 |
| GuangdongTrafficDevelopmentCo.,Ltd. | Rentalincomeofchargingpile | 315,372.65 | 267,958.87 |
| GuangzhouXinyueTrafficTechnologyCo.,Ltd. | Propertylease | 17,142.86 | |
| GuangdongLitongTechnologyInvestmentCo.,Ltd. | Landlease | 1,067,169.99 | |
| Total | 2,377,033.54 | 3,726,665.20 |
Thecompanywaslessee：
InRMB
| Lessor | Categoryofleasedassets | Rentalchargesforshort-termandlow-valueassets(ifany) | Variableleasepaymentsnotincludedinleaseliabilitiesmeasurement(ifany) | Rentpaid | Interestexpensesonleaseliabilitiesassumed | Increaseduserightassets | |||||
| Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | ||
| GuangdongLitongDevelopmentInvestmentCo.,Ltd | Officespace | 131,314.30 | 126,971.46 | 2,594,667.06 | 5,065,766.04 | 364,868.32 | 276,207.92 | 30,404,063.26 | |||
| GuangdongLitongRealEstateInvestmentCo.,Ltd | Officespace | 18,093.00 | 52,128.00 | 15,732.00 | 2,408.30 | 1,490.55 | 230,671.46 | ||||
| GuangdongMotorTransportationGroupCo.,Ltd | Carrentalfee | 570,000.00 | |||||||||
| Total | 131,314.30 | 715,064.46 | 2,646,795.06 | 5,081,498.04 | 367,276.62 | 277,698.47 | 30,634,734.72 | ||||
(3）Rewardsforthekeymanagementpersonnel
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Rewardsforthekeymanagementpersonnel | 2,759,500.00 | 2,969,700.00 |
（4）Transactionswithassociatedfinancialcompanies
（1）Depositbusiness
| Relatedparty | Relationship | Maximumdailydepositlimit(（Tenthousandyuan） | Depositinterestraterange | Beginningbalance（Tenthousandyuan） | Theamountofthisperiod | Endingbalance（Tenthousandyuan） | |
| Totalamountforthisperiod（Tenthousandyuan） | Totalamountiswithdrawnforthisperiod（Tenthousandyuan） | ||||||
| GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 300,000.00 | 0.35%-2.85% | 267,814.82 | 802,532.31 | 821,188.10 | 249,159.03 |
（2）Loanbusiness
| Relatedparty | Relationship | Loanlimit（Tenthousandyuan） | Loantinterestraterange | Beginningbalance（Tenthousandyuan） | Theamountofthisperiod | Endingbalance（Tenthousandyuan） | |
| Totalloanamountofthecurrentperiod(（Tenthousandyuan） | |||||||
| GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 400,000.00 | 2.55%-3.30% | 40,632.92 | 18,738.18 | 926.47 | 58,444.63 |
Thebalanceoftheabove-mentionedloantoGuangdongCommunicationsGroupFinanceCo.,Ltd.includesthe"unoverdueinterest"part.
（3）Creditextensionorotherfinancialservices
| Relatedparty | Relationship | Businesstype | Totalamount（Tenthousandyuan） | Actualamountincurred（Tenthousandyuan） |
| GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | Creditextension | 400,000.00 | 58,400.00 |
TheCompanyrespectivelysignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandtheGuangdongBranchofIndustrialandCommercialBankofChinaonDecember25,2017;andsignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandtheGuangdongBranchofIndustrialandCommercialBankofChinaonDecember22,2017respectively,joinedthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.
GuangdongGuanghuiExpresswayCo.,Ltdrespectivelysignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandAgriculturalBankofChinaCo.,LtdGuangdongBranchonMay19,2020,joinedthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.
（5）AssettransferanddebtrestructuringofrelatedpartiesNone
(6)Otherrelated-partytransactions1）OnJune15,2016,Thecompany’s29thmeeting(Provisional)oftheseventhboardofdirectorswasconvened.TheProposalonEntrustmentofConstructionManagementoftheRenovationandExpansionProjectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpresswaywasdeliberatedinthemeeting,agreedthatGuangdongProvincialFokaiExpresswayCo.,LtdentrustsGuangdongProvincialHighwayConstructionCo.,LtdwiththeconstructionmanagementoftherenovationandexpansionprojectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpressway,andhandlingtherelatedmattersoftheentrustmentoftheconstructionmanagement.TheabovetransactionshavebeenapprovedandimplementedbytheboardofdirectorsofGuangdongFokaiExpresswayCo.,Ltd.2）OnNovember30,2022,thefifth(interim)meetingofthe10thBoardofDirectorsoftheCompanyreviewedandapprovedtheProposalonEntrustedConstructionManagementoftheReconstructionandExpansionProjectofNansha-ZhuhaiSectionofGuangzhou-MacaoExpressway,andagreedthatthesubsidiaryGuangzhou-ZhuhaiSectionofBeijing-ZhuhaiExpresswayCo.,Ltd.entrustedGuangdongProvincialHighwayConstructionCo.,Ltd.tocarryoutthewhole-processconstructionmanagementofthereconstructionandexpansionprojectofNansha-ZhuhaiSectionofGuangzhou-MacaoExpressway.TheabovetransactionshavebeenapprovedandimplementedbytheBoardofDirectorsofGuangzhuSectionofBeijing-ZhuhaiExpresswayCo.,Ltd,TheabovetransactionshavebeenapprovedandimplementedbytheboardofdirectorsofBeijing-ZhuhaiExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.
6.Receivablesandpayablesofrelatedparties
（1）Receivables
InRMB
| Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
| BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
| Accountreceivable | GuangdongUnionelectronServiceCo.,Ltd. | 90,123,591.02 | 104,739,306.92 | ||
| Accountreceivable | GuangdongHumenBridgeCo.,Ltd. | 18,978,390.78 | 8,382,454.42 | ||
| Accountreceivable | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 6,491,696.72 | 6,548,536.49 | ||
| Accountreceivable | JingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 5,821,250.01 | 8,643,475.02 | ||
| Accountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 524,341.18 | 538,491.00 | ||
| Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
| BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
| Accountreceivable | GuangdongTrafficDevelopmentCo.,Ltd. | 108,275.44 | |||
| Accountreceivable | PolyChangdaEngineeringCo.,Ltd. | 503,879.00 | |||
| Accountreceivable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 475,529.20 | |||
| Total | 122,047,545.15 | 129,831,672.05 | |||
| Prepayment | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 2,478,186.00 | 2,478,186.00 | ||
| Prepayment | GuangdongUnionelectronServiceCo.,Ltd. | 120,116.91 | |||
| Prepayment | GuangdongHighwayScienceandEducationCenterCo.,Ltd. | 65,340.00 | |||
| Total | 2,663,642.91 | 2,478,186.00 | |||
| OtherAccountreceivable | GuangdongProvincialFreewayCo.,Ltd. | 40,092,886.12 | 40,092,886.12 | ||
| OtherAccountreceivable | GuangdongLitongDevelopmentInvestmentCo.,Ltd. | 1,846,377.94 | 1,846,377.94 | ||
| OtherAccountreceivable | GuangdongUnionelectronServiceCo.,Ltd. | 50,000.00 | 136,509.59 | ||
| OtherAccountreceivable | GuangdongLitongPropertyDevelopmentCo.,Ltd. | 12,062.00 | 12,062.00 | ||
| OtherAccountreceivable | GuangdongHumenBridgeCo.,Ltd. | 15,000.00 | 15,000.00 | ||
| OtherAccountreceivable | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 5,220.10 | 1,520.08 | ||
| OtherAccountreceivable | GuangdongYueyunTrafficRescueCo.,Ltd. | 1,802.76 | |||
| OtherAccountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 656,495.57 | |||
| Total | 42,023,348.92 | 42,760,851.30 | |||
| OtherNon-CurrentAssets | PolyChangdaEngineeringCo.,Ltd. | 136,143,013.70 | 120,487,501.70 | ||
| OtherNon-CurrentAssets | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 2,986,673.00 | |||
| OtherNon-CurrentAssets | GuangdongHualuTrafficTechnologyCo.,Ltd. | 1,715,012.00 | |||
| OtherNon-CurrentAssets | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 834,973.80 | 834,973.80 | ||
| OtherNon-CurrentAssets | GuangdongTrafficDevelopmentCo.,Ltd. | 333,398.00 | 333,398.00 | ||
| OtherNon-CurrentAssets | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 251,000.00 | 251,000.00 | ||
| Total | 142,264,070.50 | 121,906,873.50 | |||
（2）Payables
InRMB
| Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
| Short-termloan | GuangdongCommunicationGroupFinanceCo.,ltd. | 290,205,416.70 | 110,085,708.33 |
| Total | 290,205,416.70 | 110,085,708.33 | |
| Accountpayable | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 11,928,849.40 | 21,943,925.23 |
| Accountpayable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 6,339,609.72 | 6,044,263.15 |
| Accountpayable | PolyChangdaEngineeringCo.,Ltd. | 4,918,897.30 | 17,531,275.30 |
| Accountpayable | GuangzhongjiangExpresswayProjectManagementDept | 2,747,739.00 | 2,747,739.00 |
| Accountpayable | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 2,447,826.10 | 2,513,096.78 |
| Accountpayable | GuangdongHualuTrafficTechnologyCo.,Ltd. | 2,349,046.71 | 3,590,461.17 |
| Accountpayable | GuangdongLulutongCo.,Ltd. | 1,682,944.86 | 1,682,944.86 |
| Accountpayable | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 866,490.00 | 866,490.00 |
| Accountpayable | GuangdongUnionElectronServiceCo.,Ltd. | 806,526.31 | 927,837.89 |
| Accountpayable | GuangdongYueyunTrafficRescueCo.,Ltd. | 535,271.00 | 261,800.00 |
| Accountpayable | GuangzhouXinyueAsphaltCo.,Ltd. | 494,704.00 | 494,704.00 |
| Accountpayable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 472,380.00 | 472,380.00 |
| Accountpayable | GuangdongChangdaRoadMaintenanceCo.Ltd. | 231,869.00 | 231,869.00 |
| Accountpayable | HunanLianzhiTechnologyCo.,Ltd. | 217,010.00 | 217,010.00 |
| Accountpayable | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 98,500.00 | 1,588,922.00 |
| Accountpayable | GuangdongMotorTransportationGroupCo.,Ltd | 184,000.00 | |
| Accountpayable | GuangdongCommunicationTestCo.,Ltd. | 157,501.00 | |
| Accountpayable | GuangdongCommunicationsTechnologyResearchandDevelopmentCo.,Ltd. | 32,016.00 | |
| Total | 36,137,663.40 | 61,488,235.38 | |
| Advancereceived | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 17,142.86 | |
| Advancereceived | GuangdongUnionElectronServiceCo.,Ltd. | 1,313,348.00 | |
| Total | 17,142.86 | 1,313,348.00 | |
| OtherPayableaccount | PolyChangdaEngineeringCo.,Ltd. | 22,391,752.46 | 20,510,879.46 |
| OtherPayableaccount | GuangdongHualuTrafficTechnologyCo.,Ltd. | 3,427,620.06 | 2,121,826.06 |
| OtherPayableaccount | GuangdongRoadConstructionCo.,Ltd. | 2,141,665.79 | 2,004,376.13 |
| OtherPayableaccount | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 1,717,958.26 | 1,717,958.26 |
| OtherPayableaccount | GuangdongXinyueTrafficTechnologyCo.,Ltd. | 1,653,523.70 | 1,653,523.70 |
| OtherPayableaccount | GuangdongCommunicationTestCo.,Ltd. | 1,573,310.00 | 1,573,310.00 |
| OtherPayableaccount | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 1,552,963.37 | 1,773,643.35 |
| OtherPayableaccount | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,077,649.49 | 900,742.71 |
| OtherPayableaccount | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 962,700.00 | 462,700.00 |
| OtherPayableaccount | GuangdongUnionelectronicservicesco.,Ltd. | 613,711.92 | 691,060.06 |
| OtherPayableaccount | GuangdongLulutongCo.,Ltd. | 569,391.54 | 607,161.54 |
| OtherPayableaccount | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 582,470.18 | 394,220.18 |
| Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
| OtherPayableaccount | ChangdaMunicipalEngineering(Guangdong)Co.,Ltd. | 500,000.00 | |
| OtherPayableaccount | GuangzhongjiangExpresswayProjectManagementDept | 200,000.00 | 200,000.00 |
| OtherPayableaccount | GuangdongTongyiExpresswayServiceAreaCo.,Ltd. | 120,000.00 | 120,000.00 |
| OtherPayableaccount | GuangdongExpresswayMediaCo.,Ltd. | 50,000.00 | 50,000.00 |
| OtherPayableaccount | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 44,116.43 | 85,919.24 |
| OtherPayableaccount | GuangdongYueyunTrafficRescueCo.Ltd. | 2,000.00 | 2,000.00 |
| OtherPayableaccount | HunanLianzhiTechnologyCo.,Ltd. | 19,797.00 | |
| Total | 39,180,833.20 | 34,889,117.69 | |
| Non-currentliabilitiesdue1year | GuangdongCommunicationGroupFinanceCo.,ltd. | 4,240,833.34 | 4,243,466.66 |
| Non-currentliabilitiesdue1year | GuangdongLitongDevelopmentInvestmentCo.,Ltd. | 12,960,863.65 | 9,964,510.62 |
| Non-currentliabilitiesdue1year | GuangdongLitongPropertyDevelopmentCo.,Ltd. | 90,047.93 | 100,255.11 |
| Total | 17,291,744.92 | 14,308,232.39 | |
| LeaseLiability | GuangdongLitongPropertyDevelopmentCo.,Ltd. | 8,123,730.85 | 13,349,882.62 |
| LeaseLiability | GuangdongLitongPropertyDevelopmentCo.,Ltd. | 15,889.82 | 55,402.33 |
| Total | 8,139,620.67 | 13,405,284.95 | |
| Long-termloans | GuangdongCommunicationGroupFinanceCo.,ltd. | 290,000,000.00 | 292,000,000.00 |
| Total | 290,000,000.00 | 292,000,000.00 |
7.RelatedpartycommitmentIn2020,theCompanyacquired21%oftheequityofGuangdongGuanghuiExpresswayCo.,Ltd.(hereinafterreferredtoas"GuanghuiExpressway")heldbyGuangdongProvincialExpresswayCo.,Ltd.(hereinafterreferredtoas"ProvincialCompany")-arelatedpartybypayingcash,andsignedthe"ProfitCompensationAgreement"andthe"SupplementaryAgreementtotheProfitCompensationAgreement"withProvincialCompany,stipulatingthecalculationrulesfortheperformancecompensationperiodandcompensationamountoftheequityacquisition.AsofDecember31,2023,theamountofperformancecommitmentcompensationreceivablecalculatedinaccordancewiththeProfitCompensationAgreementandtheSupplementalAgreementtotheProfitCompensationAgreementconfirmedbybothpartieswasRMB40,092,886.12.InJuly2024,theCompanyhasreceivedaperformancecompensationofRMB40,092,886.12fromtheProvincialCompany.XIII.StockpaymentNoneXIV.Commitments
1.SignificantcommitmentsSignificantcommitmentsatbalancesheetdate
Capitalcommitments
| Items | June30,2024 | December31,2023 |
| Contractedbutnotrecognizedinthefinancialstatements | ||
| Buildinglong-termassetcommitments-Expresswayconstruction | 6,925,220,205.30 | 7,020,477,401.30 |
2.Contingency
(1)SignificantcontingencyatbalancesheetdateAsofJune30,2924,theCompanydidnotneedtodiscloseimportantcommitments.
(2)TheCompanyhavenosignificantcontingencytodisclose,alsoshouldbestatedTheCompanyhasnoimportantcontingencythatneedtodisclosedXV.EventsafterbalancesheetdateNoneXVI.Otherimportantevents
1.PreviousaccountingerrorscollectionNone
2.Segmentinformation
（1）Ifthecompanyhasnoreportingdivision,orfailstodisclosethetotalassetsandliabilitiesofeachreportingdivision,thereasonsshallbeexplainedThecompany'sbusinessfortheGuangfoExpressway,theFokaiExpressway,GuanghuiExpresswayandJingzhuExpresswayGuangzhuSectiontollcollectionandmaintenancework,thetechnologyindustryandprovideinvestmentadvice,noothernatureofthebusiness,noreportablesegment.
2.Otherimportanttransactionsandeventshaveanimpactoninvestorsdecision-making
In2022,theCompanyreceivedtheNoticeofDepartmentofTransportofGuangdongProvinceonRelevantMattersConcerningtheDisposalofGuangzhou-FoshanExpresswayattheExpirationofTollCollection(GJYBH[2022]No.24),andtheGuangzhou-FoshanExpresswayoperatedbyitsholdingsubsidiaryGuangfoExpresswayCo.,Ltd.stoppedchargingfrom0:00onMarch3,2022,retainingtheexistingtollcollectionfacilitiestooperateasusualatzerorate,exemptingallvehiclespassingthroughthissectionfromtolls,andcollectingtollsfromvehiclesinothersectionsonbehalf.Afterthetollisstopped,GuangfoCompanywillcontinuetoberesponsibleforthemanagementandmaintenanceofGuangzhou-FoshanExpressway.ThesourceoffundsforcustodyexpensespaidbyGuangfoCompanyneedstobefurtherdetermined.AsofJune30,2024,custodyexpensespaidbyGuangfoCompanywereRMB264,561,056.92.XV.Notesofmainitemsinfinancialreportsofparentcompany
1.Accountreceivable
（1）Disclosurebyaging
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning |
| Within1year（Including1year） | 28,166,032.89 | 31,718,251.28 |
| Total | 28,166,032.89 | 31,718,251.28 |
（2）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Accrualofbaddebtprovisionbyportfolio | 28,166,032.89 | 100.00% | 28,166,032.89 | 31,718,251.28 | 100.00% | 31,718,251.28 | ||||
| Including： | ||||||||||
| Agingportfolio | 28,166,032.89 | 100.00% | 28,166,032.89 | 31,718,251.28 | 100.00% | 31,718,251.28 | ||||
| Total | 28,166,032.89 | 100.00% | 28,166,032.89 | 31,718,251.28 | 100.00% | 31,718,251.28 | ||||
Accrualofbaddebtprovisionbyportfolio:Theaging
InRMB
| Aging | Balanceinyear-end | ||
| Accountreceivable | Baddebtprovision | Expectedcreditlossrate(% | |
| Within1year | 28,166,032.89 | ||
| Total | 28,166,032.89 | ||
Relevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√Notapplicable
（3）Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodNone
（4）Theactualwrite-offaccountsreceivableNone
(5)Top5oftheclosingbalanceoftheaccountsreceivablecollectedaccordingtothearrearsparty
InRMB
| CompanyName | Amountofendingbalance | Closingbalanceofthecontractassets | Accountsreceivableandcontractassetsendingbalance | Proportionoftotalaccountsreceivable% | Amountofendingbalanceforbaddebts |
| GuangdongUnionElectronicServicesCo.,Ltd. | 28,036,334.79 | 99.54% | |||
| GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 129,698.10 | 0.46% | |||
| Total | 28,166,032.89 | 100.00% |
（6）AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(7)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
2.Otheraccountsreceivable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Dividendreceivable | 41,904,578.21 | 1,205,472.90 |
| Otherreceivable | 755,734,118.78 | 1,020,100,372.97 |
| Total | 797,638,696.99 | 1,021,305,845.87 |
(1)Interestreceivable
None
（2）Dividendreceivable
1)Dividendreceivable
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 1,205,472.90 |
| ChinaEverbrightBankCo.,Ltd | 40,699,105.31 | |
| Total | 41,904,578.21 | 1,205,472.90 |
2)Significantdividendreceivableagedover1year
InRMB
| Items | Balanceinyear-end | Aging | Reasonsfornon-recovery | Whetherwithimpairmentandthejudgmentbasis |
| GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | Over5years | Thepartnershipagreementexpiresandcanberecoveredaftertheextensionproceduresarecompleted | No,itcanberecoveredinthefuture |
| Total | 1,205,472.90 |
3）Bad-debtprovision
□Applicable√Notapplicable
（3）Otheraccountsreceivable
1)Otheraccountsreceivableclassified
InRMB
| Items | Balanceinyear-end | BalanceYear-beginning |
| Deposit | 2,297,364.74 | 2,277,164.74 |
| Pettycash | 1,186,400.00 | 1,232,661.91 |
| Compensationforperformancecommitmentsreceivable | 40,092,886.12 | 40,092,886.12 |
| Paymentfromrelatedpartieswithinthescopeofthemerger | 711,730,768.23 | 975,923,541.67 |
| Other | 426,699.69 | 574,118.53 |
| Total | 755,734,118.78 | 1,020,100,372.97 |
2）Disclosurebyaging
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning |
| Within1year(Including1year） | 41,870,282.91 | 44,648,632.53 |
| 1-2years | 2,230,791.74 | 975,012,062.00 |
| 2-3years | 711,199,562.00 | 28,611.55 |
| Over3years | 433,482.13 | 411,066.89 |
| 3-4years | 28,611.55 | 7,699.35 |
| 4-5years | 7,699.35 | 23,848.70 |
| Over5years | 397,171.23 | 379,518.84 |
| Total | 755,734,118.78 | 1,020,100,372.97 |
3）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Including： | ||||||||||
| Accrualofbaddebtprovisionbyportfolio | 755,734,118.78 | 100.00% | 755,734,118.78 | 1,020,100,372.97 | 100.00% | 1,020,100,372.97 | ||||
| Including | ||||||||||
| CSFPortfolio | 3,483,764.74 | 0.46% | 3,483,764.74 | 3,509,826.65 | 0.34% | 3,509,826.65 | ||||
| Verylowcreditriskfinancialassetportfolio | 40,519,585.81 | 5.36% | 40,519,585.81 | 40,667,004.65 | 3.99% | 40,667,004.65 | ||||
| Risk-freecombination | 711,730,768.23 | 94.18% | 711,730,768.23 | 975,923,541.67 | 95.67% | 975,923,541.67 | ||||
| Total | 755,734,118.78 | 100.00% | 755,734,118.78 | 1,020,100,372.97 | 100.00% | 1,020,100,372.97 | ||||
Accrualofbaddebtprovisionbysingle：Theportfolio
InRMB
| Name | BalanceYear-beginning | Balanceinyear-end | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Withdrawalproportion | Reason | |
| Castdepositportfolio | 3,483,764.74 | |||||
| Verylowcreditriskfinancialassetportfolio | 40,519,585.81 | |||||
| Risk-freecombination | 711,730,768.23 | |||||
| Total | 755,734,118.78 | |||||
Makeprovisionforbaddebtsaccordingtothegeneralmodelofexpectedcreditlosses
None。
Lossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√Notapplicable4）Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodNone
5)Theactualwrite-offotheraccountsreceivableintheperiod:
None
6)Top5oftheclosingbalanceoftheotheraccountsreceivablecollectedaccordingtothearrearspartyNone
7）Reportedinotherreceivablesduetocentralizedmanagementoffunds
None
8）Top5oftheclosingbalanceoftheprepaymentcollectedaccordingtotheprepaymenttarget
| Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | Reconstructionandexpansionofinvestmentfundsandinterest | 711,187,500.00 | 2-3years | 94.18% | |
| Interest | 543,268.23 | Within1year |
| Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
| GuangdongProvincialFreewayCo.,Ltd. | Provisionalestimateofrestructuringperformancecompensationnumber | 40,092,886.12 | Within1year | 5.31% | |
| GuangdongLitongDevelopmentInvestmentCo.,Ltd. | SecurityDepositsandEarnestMoney | 7,131.00 | Within1year | 0.24% | |
| Vehicleparkingdeposit | 22,980.00 | 3-4years | |||
| Leasedeposit | 1,816,266.94 | 1-2years | |||
| FirstPacificDavisPropertyConsultant(Guangzhou)Co.,Ltd | Vehicleparkingdeposit | 4,200.00 | 3-4years | 0.06% | |
| Waterandelectricitycostsworkingcapital | 92,116.80 | 1-2years | |||
| Managementfeedeposit | 322,408.00 | 1-2years | |||
| HuangHonggui | Pettycash | 190,000.00 | Within1year | 0.03% | |
| Total | 754,278,757.09 | 99.82% |
9)Accountsreceivableinvolvedwithgovernmentsubsidies
None10)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
11)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
3.Long-termequityinvestment
InRMB
| Items | Endofterm | Beginningofterm | ||||
| BookBalance | Impairmentprovision | Bookvalue | BookBalance | Impairmentprovision | Bookvalue | |
| Investmentinsubsidiaries | 4,216,142,963.43 | 4,216,142,963.43 | 3,952,330,463.43 | 3,952,330,463.43 | ||
| Investmentinjointventuresandassociates | 3,177,294,208.44 | 3,177,294,208.44 | 2,990,656,046.31 | 2,990,656,046.31 | ||
| Total | 7,393,437,171.87 | 7,393,437,171.87 | 6,942,986,509.74 | 6,942,986,509.74 |
（1）Investmenttothesubsidiary
InRMB
| Name | Openingbalance | Initialbalanceoftheimpairmentprovision | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||
| Addinvestment | Decreasedinvestment | Withdrawnimpairmentprovision | Other | |||||
| JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 1,396,171,883.08 | 263,812,500.00 | 1,659,984,383.08 | |||||
| GuangfoExpresswayCo.,ltd. | 154,982,475.25 | 154,982,475.25 | ||||||
| YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | 375,500,000.00 | 375,500,000.00 | ||||||
| GuanghuiExpresswayCo.,Ltd. | 2,025,676,105.10 | 2,025,676,105.10 | ||||||
| Total | 3,952,330,463.43 | 263,812,500.00 | 4,216,142,963.43 | |||||
（2）Investmenttojointventuresandassociatedenterprises
InRMB
| Name | Openingbalance | Initialbalanceoftheimpairmentprovision | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
| Increaseininvestment | Decreaseininvestment | Investmentincomeunderequitymethod | Othercomprehensiveincome | Otherchangesinequity | Announcedfordistributingcashdividendorprofit | Provisionforimpairment | Other | |||||
| I.Jointventures | ||||||||||||
| II.Associatedenterprises | ||||||||||||
| ZhaoqingYuezhaoHighwayCo.,Ltd. | 367,104,015.00 | 142,000,000.00 | 30,049,890.64 | 99,500,000.00 | 439,653,905.64 | |||||||
| GuangdongJiangzhongExpresswayCo.,Ltd. | 557,686,679.66 | 31,500,000.00 | 8,230,842.00 | 4,057,227.52 | 593,360,294.14 | |||||||
| GanzhouGankangExpresswayCo.,Ltd. | 181,054,819.12 | 11,602,814.12 | 192,657,633.24 | |||||||||
| GanzhouKangdaExpresswayCo.,Ltd. | 257,929,704.98 | 20,570,257.49 | 278,499,962.47 | |||||||||
| ShenzhenHuiyanExpresswayCo.,Ltd. | 377,922,183.98 | 13,417,646.32 | 391,339,830.30 | |||||||||
| GuoyuanSecurities | 1,027,100,533.47 | 23,716,283.62 | 17,123,319.79 | 15,522,387.30 | 1,052,417,749.58 | |||||||
| Co.,Ltd. | ||||||||||
| GuangdongYuepuScienceandTechnologyMicrofinanceCo.,Ltd. | 221,858,110.10 | 7,506,722.97 | 229,364,833.07 | |||||||
| Subtotal | 2,990,656,046.31 | 173,500,000.00 | 115,094,457.16 | 17,123,319.79 | 119,079,614.82 | 3,177,294,208.44 | ||||
| Total | 2,990,656,046.31 | 173,500,000.00 | 115,094,457.16 | 17,123,319.79 | 119,079,614.82 | 3,177,294,208.44 |
Therecoverableamountisdeterminedbythenetamountoffairvalueminusdisposalexpenses
□Applicable?NotapplicableTherecoverableamountisdeterminedaccordingtothepresentvalueoftheexpectedfuturecashflow
□Applicable?Notapplicable
4.BusinessincomeandBusinesscost
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Mainbusiness | 743,464,662.48 | 251,313,774.04 | 734,319,820.33 | 242,491,456.98 |
| Other | 4,261,694.44 | 113,922.96 | 6,352,612.68 | 1,795,927.53 |
| Total | 747,726,356.92 | 251,427,697.00 | 740,672,433.01 | 244,287,384.51 |
5.Investmentincome
InRMB
| Items | Amountofcurrentperiod | Amountofpreviousperiod |
| Long-termequityinvestmentincomeaccountedbycostmethod | 598,060,407.87 | 404,052,121.37 |
| Long-termequityinvestmentincomeaccountedbyequitymethod | 115,094,457.16 | 108,689,822.92 |
| Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | 40,699,105.31 | 71,249,739.36 |
| Other | 11,332,376.43 | 12,728,947.34 |
| Total | 765,186,346.77 | 596,720,630.99 |
XVI.SupplementaryInformation
1.Currentnon-recurringgains/losses
√Applicable□Notapplicable
InRMB
| Items | Amount | Notes |
| Non-currentassetdisposalgain/loss | 31,986.81 | |
| Governmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 5,419,793.60 | |
| Capitaloccupationchargesonnon-financialenterprisesthatarerecordedintocurrentgainsandlosses | 690,943.99 | |
| Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | 1,163,702.75 | |
| Othernon-recurringGains/lossitems | 197,734.86 | |
| Theimpairmentprovisionfortheadvanceexpensesthathaveoccurredbutneedtobedefinedfromthesourceoffunds | -43,453,436.90 | |
| Less:Influencedamountofincometax | 1,876,040.52 | |
| Influencedamountofminorshareholders’equity(aftertax) | -9,431,353.21 | |
| Total | -28,393,962.20 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
√Applicable□NotapplicableDuetothespecialnatureoftheimpairmentprovisionformanagementandmaintenanceexpensesadvancedbytheGuangzhou-FoshanExpresswaytobeclarified,itwillaffectthenormaljudgmentoftheCompany'soperatingperformanceandprofitabilitybytheuserofthereport.
FortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√Notapplicable
2.Returnonequity(ROE)andearningspershare(EPS)
| Profitasofreportingperiod | WeightedaverageROE(%) | EPS（Yuan/share） | |
| EPS-basic | EPS-diluted | ||
| NetprofitattributabletocommonshareholdersoftheCompany | 8.45% | 0.41 | 0.41 |
| NetprofitattributabletocommonshareholdersoftheCompanyafterdeductionofnon-recurringprofitandloss | 8.73% | 0.42 | 0.42 |
3.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
（1）．SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√Notapplicable
（2）.DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable□√Notapplicable
(3).Explanationofthereasonsforthedifferencesinaccountingdataunderdomesticandforeignaccountingstandards.Ifthedatathathasbeenauditedbyanoverseasauditinstitutionisadjustedfordifferences,thenameoftheoverseasinstitutionshouldbeindicated