Stock code: 600548 Stock abbreviation: Shenzhen Expressway Announcement number: Pro 2021-035
Bond code: 163300 Bond abbreviation: 20 deep high 01
Bond code: 175271 Bond abbreviation: G20 Deep High 1
Bond code: 175979 Bond abbreviation: G21 Deep High 1
The Board of Directors and all Directors of the Company warrant that the contents of this announcement are free from any misrepresentation, misleading statement or material omission and accept sole and several liability for the truthfulness, accuracy and completeness of the contents.
The Board of Directors (the "Board") of Shenzhen Expressway Co., Ltd. (the "Company") hereby announces the Group's road fee income (unaudited) for March 2021 as follows:
Investors can log on to the "Highway Operation" and "Operation Data" sections of the http://www.sz-expressway.com of the Company's website to view the basic information and historical data of each toll road respectively.
Cautionary statements
The Board hereby reminds investors that the above data is based on a summary of the Group's internal information and is unaudited. Due to the process of completing the data splitting and recognition of toll revenue, and the fact that road fee income on some sections of the road fee must be recorded in an estimated manner during monthly settlement and disclosure in the context of networked tolls, there may be discrepancies between these data and the data disclosed in periodic reports. In addition, when disclosing the estimated data for the current month, the Company will also adjust the difference between the estimated number of the previous month and the actual settlement number of the previous month, resulting in a certain degree of abnormality in the individual data. Therefore, the road fee income of this announcement is only intended as a phased data for the reference of investors, and investors should use such data prudently.
This is hereby announced
Board of Directors of Shenzhen Expressway Co., Ltd
April 28, 2021
Company code: 600548 Company abbreviation: Shenzhen Expressway
Shenzhen Expressway Co., Ltd
The text of the first quarterly report for 2021
I. Important Notes
1.1 The board of directors, the board of supervisors and the directors, supervisors and senior management of the company shall ensure that the contents of the quarterly report are true, accurate and complete, that there are no false records, misleading statements or material omissions, and that they bear individual and joint legal liabilities.
1.2 Failure to attend directors
1.3 Hu Wei, the person in charge of the company, Zhao Guiping, the person in charge of accounting work, and Li Xiaojun, the person in charge of the accounting agency, ensure that the financial statements in the quarterly report are true, accurate and complete.
1.4 The Company's first quarterly report (the "Report") has not been audited for the financial statements prepared for the three months ended March 31, 2021 (the "Reporting Period" or "the Current Period").
1.5 Unless otherwise indicated, the amounts in this report are in RMB.
1.6 Unless otherwise indicated, the abbreviations in this report relating to the Company's operating, investment and management roads/projects and the invested enterprises have the same meanings as defined in the Company's 2020 Annual Report.
Second, the company's main financial data and shareholder changes
2.1 Key Financial Data
Unit: Yuan Currency: RMB
Note 1: Financial leasing companies, logistics finance companies and Longda companies were included in the scope of group mergers in the second and fourth quarters of 2020 respectively under the same control, and the company retrospectively adjusted the consolidated financial statement data of the previous year in accordance with the relevant requirements of the accounting standards for business enterprises.
Note 2: The Company issued $4 billion of perpetual bonds in December 2020, which were included in other equity instruments. In accordance with the relevant regulations, the impact of perpetual bonds has been deducted in the calculation of the above earnings per share and weighted average return on net assets.
Non-recurring P&L items and amounts
2.2 Table of the total number of shareholders, the top ten shareholders, the top ten circulating shareholders (or shareholders with unlimited sale conditions) as of the end of the reporting period
As at the end of the reporting period, according to the register of shareholders provided by the Company's domestic and Hong Kong share registries, the total number of shareholders of the Company was 18,767, of which 18,528 were A-share shareholders and 239 were H-share shareholders. The holdings of the top 10 shareholders and the top 10 shareholders with unlimited sale conditions are as follows:
Unit: Shares
Note: (1) H shares held by HKSCC NOMINEES LIMITED (Hong Kong Securities Clearing (Nominee) Limited) are held on behalf of multiple clients.
2.3 Table of the total number of preferred shareholders, the top ten preferred shareholders, and the top ten preferred shareholders with unlimited sale conditions as of the end of the reporting period
III. Important Matters
3.1 Business Information
3.1.1 Toll road operations
In the same period last year, due to the impact of the novel coronavirus pneumonia epidemic ("epidemic") and the free policy during the epidemic prevention and control period, the overall road fee income decreased significantly. During the Spring Festival in 2021, in order to prevent and control the epidemic repeatedly, the state advocated the local New Year, and required returnees to implement strict prevention and control measures, so that the number of travel vehicles during this period was reduced, and the toll income was less than in normal years. Overall, however, with the domestic macroeconomic recovery and stabilization, the operating performance of toll roads operated and invested by the Group during the reporting period has returned to normal, due to the low base of the same period last year, so the traffic flow and road toll revenue of various toll road projects in the reporting period have achieved significant growth year-on-year. In addition, the operational performance of toll road projects is also positively or negatively affected by factors such as changes in the surrounding competitive or coordinated road network, the construction or maintenance of the project itself and connected or parallel roads, and the implementation of urban transportation organization schemes. The operating data of each toll road project during the reporting period are as follows:
(1) The daily average mixed traffic data does not include the traffic flow that passes free on holidays.
(2) According to the freight compensation agreement signed by the Shenzhen Municipal Transportation Bureau with the Company and the Yanjiang Company, from January 1, 2021 to December 31, 2024, trucks passing along the Yangtze River Expressway will be charged a toll of 50% of the charging standard, and the toll waived by the Company and the Yanjiang Company will be paid by the government in a lump sum in March of the following year.
(1) Guangdong Province – Shenzhen Region
During the reporting period, benefiting from the northward relocation of large-scale production enterprises, the increase in production bases along the route, and the implementation of preferential truck policies on the Changhu Expressway and the Dongguan section of the Guanguan Expressway (including the Qingxi Branch Line), the traffic flow of Meiguan Expressway trucks maintained good growth; the Jihe Expressway, as an important freight traffic artery across the east and west of Shenzhen, had stable operating performance; from January 1, 2021 to December 31, 2024, trucks passing along the Yangtze River Expressway were still charged 50% of the charging standard. In addition to the one-time payment by the government in March of the following year, the Company and the Yanjiang Expressway also benefited from the positive factors such as Shenzhen's vigorous promotion of the economic development and construction of Qianhai and the Western Port Area, as well as the synergy effect of the road network brought about by the opening of the western section of the Shahe West Section of the East Bin Tunnel, and the traffic flow maintained good growth.
The Outer Ring Road Project is a toll road invested by the Group in accordance with the PPP model, including the First Phase of the Outer Ring Road and the Second Phase of the Outer Ring Road, of which the total mileage of the First Phase of the Outer Ring Road is about 50.74 km, which has been officially opened to traffic at the end of December 2020, becoming another important arterial road for shenzhen to build a "ten horizontal and thirteen vertical" road network; the total mileage of the second phase of the Outer Ring Road is about 9.35 km, and after the completion of the whole line, it will be interconnected with 10 expressways and 8 first-class highways in Shenzhen. After the opening of the first phase of the outer ring road, its function as a link to strengthen the main skeleton of the north-south expressway network in the Pearl River Delta has initially emerged, and its operation performance during the reporting period has been good, achieving an average daily road fee income of 2.14 million yuan. In addition, the opening of the first phase of the outer ring road has an inducement effect on the traffic flow of Meiguan Expressway and Yanjiang Expressway, but has a certain diversion effect on the traffic flow of the whole line of the Machine-Load Expressway.
(2) Guangdong Province – Other Regions
The full line of Xuguang Expressway highlights the role of Qinglian Expressway as the main north-south traffic artery from South China to the hinterland of the Central Plains; the Qingyun section of the Shanzhan Expressway was officially opened to traffic on January 1, 2020, which has a positive role in promoting the traffic flow of Qinglian Expressway; after the Qingyuan Bridge resumed traffic in mid-June 2020, some vehicles passing through the connecting line chose to drive on Qinglian Expressway. Due to the positive impact of the above factors, the operation performance of Qinglian Expressway during the reporting period was stable.
During the reporting period, the implementation of speed limits on Yangmao Expressway due to reconstruction and expansion construction, the closure of some toll stations, and the opening of adjacent road networks such as Shanzhan Expressway and the closure of connected roads had a negative impact on the operation performance of Yangmao Expressway; the improvement of the surrounding road network and the connected Foqingcong Expressway were officially opened in January 2020, which promoted the increase in short-distance traffic flow of Guangzhou West Second Ring Road, but the Guangzhou-Foshan-Zhaozhou Expressway was opened to traffic at the end of December 2020, which had a certain diversion impact on the overall traffic flow of Guangzhou West Second Ring Road.
(3) Other provinces
During the reporting period, the operation performance of Wuhuang Expressway has tended to be normal; the Changyi North Line Expressway was officially opened to traffic at the end of August 2020, which had a positive impact on the growth of Yichang Expressway traffic, the construction of Changyichang High-speed Railway entered the construction stage, which also had a certain pulling effect on the flow of Yichang High-speed Trucks; benefiting from the recovery of the surrounding economic and business circles and the continuous positive impact of the opening of the surrounding road network such as the Changyi North Line Expressway, the operation performance of Changsha Ring Road has grown well; the Nanjing Wuqiao Has been opened since late December 2020. The diversion impact on the Nanjing Three Bridges, Jiangsu Province implemented differentiated charges for trucks, which had a driving effect on the growth of truck traffic, and the overall performance of the Nanjing Three Bridges was normal due to the comprehensive impact of the above factors.
3.1.2 Major environmental protection business
(1) Solid waste resource management
During the reporting period, Lander Environmental Actively Promoted the construction and operation of the projects in hand. Lande Environmental Protection currently has a total of 18 organic waste treatment projects, distributed in 10 provinces and regions and 14 prefectures and cities across the country, with a design processing capacity of more than 4,000 tons of kitchen waste per day, of which 4 BOT projects have entered commercial operation. After nearly a year of development, Lande Environmental Protection Kitchen Waste Treatment Capacity has been enhanced compared with the previous year, and the revenue of garbage disposal operation business during the reporting period has increased significantly year-on-year, and EPC construction business, equipment sales and other businesses have also achieved growth.
In February 2021, the Company has officially signed the Bright Environment Park project through public bidding. During the reporting period, the company has completed the establishment of the project company, and is currently actively carrying out the preliminary work of project plan submission, related design and bidding.
At the end of 2020, the Group completed the acquisition of a 50% interest in Qiantai Company, and Qiantai Company is the only enterprise in Shenzhen that has obtained the whitelist qualification of "New Energy Vehicle Waste Power Battery Comprehensive Utilization Industry Specification Conditions". During the reporting period, Qiantai Company is carrying out the construction of internal management system system and actively docking external resources to prepare for the next step of expanding market-related business.
(2) Clean energy
During the reporting period, the new energy company actively responded to the requirements of the national 14th Five-Year Plan for new energy and the carbon peak target, increased the development of wind power and photovoltaic markets, actively promoted pre-acquisition projects and affordable large base projects in many provinces and regions, deepened cooperation with advanced enterprises in the industry, and led to the signing of sales orders for wind turbines in Nanjing. In order to cope with the advent of the era of parity, Nanjing Wind Power has increased its technology research and development, process innovation and procurement and development efforts, further reduced manufacturing costs, strengthened the design optimization and market development of the two new models, and strengthened the quality improvement and market development of post-operation and maintenance services, and taken multiple measures to prepare in advance for future business development.
During the reporting period, Baotou South Wind continued to improve the operation and management capabilities of the wind farm, and completed 182,156.18 MWh of online electricity, an increase of 24% over the same period of the previous year. In addition, the Group completed the acquisition of three wind power generation projects in Mulei, Xinjiang during the Reporting Period, as detailed in 3.4(1) below. After the Mulei wind power project was included in the group's consolidated scope, a total of 70,579.73 MWh of on-grid electricity was completed during the reporting period. The Mulei wind power generation project is rich in wind resources, has high wind power development value, and belongs to the Jundong-Anhui South UHV supporting project, and the power consumption has a certain guarantee。
3.2 Financial Analysis
3.2.1 General Description
During the Reporting Period, the Group achieved a net profit attributable to the shareholders of the Company of RMB540,535,000 (same period in 2020 (reclassified): -132,684,000 yuan), an increase of $673,219,000 year-on-year, mainly due to the significant decline in toll road revenue from the Group's operation and investment due to the impact of the epidemic free policy in the same period of the previous year.
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annotations:
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