StockAbbreviation:GuangdongExpresswayA,BStockCode:000429,200429AnnouncementNo.:2025-032
GuangdongProvincialExpresswayDevelopmentCo.，Ltd.
TheThirdQuarterlyReport2025
TheCompanyanditsdirectorsherebyguaranteethatthecontentofinformationdisclosureisreal,accurate,completeandfreefromanyfalserecord,misleadingrepresentationormaterialomissions.
ImportantNotes
1.TheBoardofDirectorsanditsdirectors,seniorexecutivesshouldguaranteethereality,accuracyandcompletionofthequarterlyreport,therearenoanyfictitiousstatements,misleadingstatementsorimportantomissionscarriedinthisreport,andshalltakelegalresponsibilities,individualandorjoint.
2.PersoninchargeoftheCompany,Personinchargeofaccountingandpersoninchargeofaccountingorgan(accountingofficer)herebyconfirmthatthefinancialinformationofthisQuarterlyReportisauthentic,accurateandcomplete.
3.TheThirdquarterlyreportauditedornot
□Yes√No
I.Mainfinancialdata(i)MainaccountingdataandfinancialindexesWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdataornot
□Yes?No
Currentperiod
| Currentperiod | Increase/decreaseintheperiodcomparedwiththesameperiodofthepreviousyear | Year-begintoperiod-end | Increase/decreasefromyear-begintoperiod-endcomparedwiththesameperiodofthepreviousyear | |
| Operatingrevenue（Yuan） | 1,244,545,969.16 | -2.12% | 3,362,508,742.41 | -3.99% |
| Netprofitattributabletotheshareholdersofthelistedcompany（Yuan） | 488,018,815.20 | -2.58% | 1,545,171,669.34 | 13.92% |
| Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany（Yuan） | 487,093,457.19 | -5.51% | 1,286,152,841.82 | -8.09% |
| Netcashgeneratedfrom/usedinoperatingactivities（Yuan） | — | — | 3,044,711,345.74 | 20.27% |
| Basicearningpershare(Yuan/Share) | 0.23 | -4.17% | 0.74 | 13.85% |
| Dilutedgainspershare(Yuan/Share) | 0.23 | -4.17% | 0.74 | 13.85% |
| Weightedaveragereturnonequity（%） | 4.67% | -0.38% | 14.42% | 0.97% |
| Endofthisperiod | Endoflastperiod | Changesofthisperiod-endoversameperiod-endoflastyear(%) | ||
| Totalassets（Yuan） | 24,209,363,602.65 | 22,441,664,114.93 | 7.88% | |
| Netassetsattributabletotheshareholdersofthelistedcompany（Yuan） | 10,845,825,563.84 | 10,468,100,319.53 | 3.61% | |
(ii)Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
| Item | Currentamount | Year-begintoperiod-end | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | -12,638.87 | -130,586.29 |
Governmentalsubsidycalculatedintocurrentgainsandlosses(whilecloselyrelatedwiththenormalbusinessoftheCompany,thegovernmentsubsidythataccordwiththeprovisionofnationalpoliciesandarecontinuouslyenjoyedinlinewithacertainstandardquotaorquantityareexcluded)
| Governmentalsubsidycalculatedintocurrentgainsandlosses(whilecloselyrelatedwiththenormalbusinessoftheCompany,thegovernmentsubsidythataccordwiththeprovisionofnationalpoliciesandarecontinuouslyenjoyedinlinewithacertainstandardquotaorquantityareexcluded) | 132,416.25 | 1,583,786.10 | |
| Theimpairmentprovisionfortheadvanceexpensesthathaveoccurredbutneedtobedefinedfromthesourceoffunds | 0.00 | 342,942,142.53 | AccordingtorelevantgovernmentdocumentsGuangfoCompany'smanagementandmaintenanceexpensesfortheadvancehavebeenclearlystatedtobepaidbytheProvincialLoanRepaymentCenter,andtheoffsetfortheimpairmentprovisionhasbeenaccrued. |
| Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | 2,339,060.38 | 1,977,196.05 | |
| Othernon-recurringGains/lossitems | 13,500.00 | 425,038.51 | |
| Less:Influencedamountofincometax | 618,084.44 | 984,647.65 | |
| Influencedamountofminorshareholders’equity(aftertax) | 928,895.31 | 86,794,101.73 | |
| Total | 925,358.01 | 259,018,827.52 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√NotapplicableTherearenoothergains/lossesitemsthatmeetthedefinitionofnon-recurringgains/lossesintheCompany.Explaintheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
□Applicable√NotapplicableTherearenoitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss(iii)Particularsaboutmaterialchangesinitemsofmainaccountingstatementandfinancialindexandexplanationsofreasons
√Applicable□Notapplicable
1.Itemsofbalancesheetascomparedwiththebeginningofthisyear.
（1）MonetaryfundsItincreasedby1,169.52millionyuanor27.26%overthebeginningoftheyear,It’smainlyduetothe
comprehensiveimpactofvariouscashflowactivities.
（2）AccountreceivablesItincreasedby33.49millionyuanor40.66%overthebeginningoftheyear,Themainreasonistheincreaseintollrevenuependingsettlement.
（3）OtherreceivablesItincreasedby110.66millionyuanor74.34%overthebeginningoftheyear,It’smainlyduetothe
comprehensiveimpactofthesubsidiaryGuangfoExpresswayCo.,Ltd.'sreversaloftheaccruedprovisionforbaddebtsofmanagementandmaintenanceexpensesandthereceiptofworkingcapitaladvances,aswellasthesubsidiaryYuegaoCapitalHoldings(Guangzhou)Co.,Ltd.'sreceiptofthetransactionamountforequitytransferofHunanLianzhiTechnologyCo.,Ltd.
（4）LongtermshareequityinvestmentItincreasedby936.82millionyuanor28.11%overthebeginningoftheyear,It’smainlyduetothattheCompanychangedtheaccountingmethodofitsequityinvestmentinGuangdongGuangleExpresswayCo.,Ltd.totheequitymethod.
（5）OtherequityinstrumentsinvestmentItdecreasedby920.5millionyuanor52.04%overthebeginningoftheyear,ThemainreasonisthedecreaseinthefairvalueoftheCompany'sholdingsinEverbrightBankshares,aswellasthedecreaseincostsandfairvaluechangesduetochangingtheaccountingmethodoftheCompany'sequityinvestmentinGuangdongGuangleExpresswayCo.,Ltd.totheequitymethod.
（6）ConstructioninprogressItincreasedby1,203.52millionyuanor45.15%overthebeginningoftheyear，It’smainlyduetotheincreasedexpenditureonthereconstructionandexpansionprojectofthesubsidiaryJingzhuExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.
（7）AccountpayableItdecreasedby82.03millionyuanor36.28%overthebeginningoftheyear,It’smainlyduetothedecreaseinconstructionpayablesbythesubsidiaryGuangdongGuanghuiExpresswayCo.,Ltd.andtheFo-kaibranchcompany.
（8）TaxpayableItincreasedby111.64millionyuanor84.74%overthebeginningoftheyear，It’smainlyduetotheprovisionforincometaxpayableincreaseswiththeincreaseintaxableincome.
（9）Non-currentliabilityduewithin1yearItdecreasedby747.73millionyuanor73.51%overthebeginningoftheyear,It’smainlyduetothattheCompanyredeemedtheduemedium-termnotes.
（10）DeferredincomeItincreasedby515millionyuanor100.59%overthebeginningoftheyear，It’smainlyduetothatthesubsidiaryJingzhuExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.receivedsubsidiesfromtheNanshaDistrictgovernmentandmadepaymentfortheconstructionoftheHengliInterchangeconnectingline.
2.Itemsofincomestatementascomparedwiththesameperiodofthepreviousyear
(1)OperatingincomeThedecreaseof139.81millionyuanor3.99%overthesameperiodoflastyear,which’smainlyduetothecombinedimpactofthefollowingfactors:1)TheGuangzhou-ZhuhaisectionoftheBeijing-ZhuhaiExpresswayisaffectedbytheopeninganddiversionoftheShenzhen-ZhongshanCorridor,theZhongkaiExpresswayandtheSouth-CentralExpressway,andthetollrevenuedecreases;2)Affectedbytheopeningofthe
Shenzhen-ZhongshanCorridorandtheclosureoftheLianhuashanTunnelforthereconstructionandexpansionoftheJiangheExpressway,thetrafficflowofFokaiExpresswayhasdecreasedandthetollrevenuehasdecreased.3)GuanghuiExpresswayismainlyaffectedbythenaturalgrowthoftrafficvolumeandthechangeoftrafficflowstructure,withaslightincreaseinthetrafficflowofmediumandlong-distancepassengercarsandanincreaseintollrevenue.
(2)LossofcreditimpairmentThedecreaseof392.35millionyuanor592.76%overthesameperiodoflastyear,Themainreasonisthatthesubsidiary,GuangfoExpresswayCo.,Ltd.,accordingtotherelevantgovernmentdocuments,reversedtheprovisionforbaddebtsofmanagementandmaintenanceexpensesadvancedthathadbeenaccruedinthepreviousperiod.
（3）OthercomprehensiveincomeThedecreaseof233.76millionyuanor165.14%overthesameperiodoflastyear,It’smainlyduetothedeclineinthefairvalueoftheCompany'sholdingsinEverbrightBankshares.
3.Notesofmainitemsofcashflowstatement
(1)ReceiptofothercashrelatedtooperatingactivitiesItincreasedby909.54millionyuanor1068.04%YOY,It’smainlyduetothesubsidiaryGuangfoExpresswayCo.,Ltd.receivedadvancefundsforoperations,andthesubsidiaryJingzhuExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.receivedsubsidiesfromtheNanshaDistrictGovernment.
（2）PayableofothercashrelatedtooperatingactivitiesItincreasedby284.31millionyuanor478.03%YOY,It’smainlyduetothesubsidiaryJingzhuExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.madepaymentsforconstructionprojectsonbehalfofothers,whichdidnotoccurinthesameperiodlastyear.
（3）CashreceivedfrominvestmentretrievingItincreasedby107.11millionyuanYOY,It’sthesubsidiaryYuegaoCapitalHoldings(Guangzhou)Co.,Ltd.receivingthepaymentfortheequitytransferofHunanLianzhiTechnologyCo.,Ltd.,whichdidnotoccurinthesameperiodlastyear.It’smainly
(4)CashreceivedfromobtainedborrowingsItincreasedby1,934.04millionyuanor177.28%YOY,It’smainlyduetothenewloansbytheCompany'sheadquarterandthesubsidiarycompanyJingzhuExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.
(5)CashpaidtorepaydebtsItincreasedby1,781.38millionyuanor228.04%YOY,It’smainlyduetotheCompany'sheadquarter,the
Fokaibranchcompany,andthesubsidiarycompanyJingzhuExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.repaidloansduringthereportingperiod.
II.ShareholdersInformation(i)Totalnumberofcommonshareholdersandpreferenceshareholderswithvotingrightsrecoveredandtoptencommonshareholders
InShares
Totalnumberofcommonshareholdersattheperiod-end
| Totalnumberofcommonshareholdersattheperiod-end | 66,085 | Totalpreferenceshareholderswiththevotingpowerrecoveredattheendofthereportingperiod(ifany) | 0 |
Sharesheldbythetop10shareholders（Excludingshareslentthroughrefinancing
| Sharesheldbythetop10shareholders（Excludingshareslentthroughrefinancing | |||||||||
| Shareholdername | Propertiesofshareholder | Shareproportion% | Quantity | AmountoftradableshareswithConditionalheld | Pledgingorfreezing | ||||
| Statusoftheshares | Quantity | ||||||||
| GuangdongCommunicationGroupCo.,Ltd. | State-ownedlegalperson | 24.56% | 513,485,480 | 410,105,738 | Notapplicable | 0 | |||
| GuangdongHighwayConstructionCo.,Ltd, | State-ownedlegalperson | 22.30% | 466,325,020 | 0 | Notapplicable | 0 | |||
| ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | State-ownedlegalperson | 9.68% | 202,429,927 | 0 | Notapplicable | 0 | |||
| GuangdongProvincialFreewayCo.,Ltd. | State-ownedlegalperson | 2.53% | 52,937,491 | 19,582,228 | Notapplicable | 0 | |||
| ChinaPacificLifeInsuranceCo.,Ltd.-ChinaPacificLifeEquityDividendProduct(LifeProprietaryTrading)EntrustedInvestment(ChangjiangPension) | Other | 1.81% | 37,812,274 | 0 | Notapplicable | 0 | |||
| HKSCC | Overseaslegalperson | 0.93% | 19,405,421 | 0 | Notapplicable | 0 | |||
| ChinaLifeInsuranceCo.,Ltd－Dividend－individualdividend－005L－FH002shanghai | Other | 0.85% | 17,725,030 | 0 | Notapplicable | 0 | |||
| OrientSecurities | State-ownedlegalperson | 0.69% | 14,430,302 | 0 | Notapplicable | 0 | |||
| XinyueCo.,Ltd. | Overseaslegalperson | 0.63% | 13,201,086 | 0 | Notapplicable | 0 | |||
| ChinaLifeInsuranceCo.,Ltd－Dividend－individualdividend－005L－FH002shanghai | Other | 0.45% | 9,496,185 | 0 | Notapplicable | 0 | |||
| SharesheldbytheTop10ShareholdersofNon-restrictedshares(excludingshareslentthroughconversionsandlocked-upsharesforseniormanagers) | |||||||||
| Shareholders’Names | Numberofthenon-restrictedsharesheld | Sharetype | |||||||
| Sharetype | Quantity | ||||||||
| GuangdongHighwayConstructionCo.,Ltd, | 466,325,020 | RMBCommonshares | 466,325,020 | ||||||
| ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | 202,429,927 | RMBCommonshares | 202,429,927 | ||||||
GuangdongCommunicationGroupCo.,Ltd.
| GuangdongCommunicationGroupCo.,Ltd. | 103,379,742 | RMBCommonshares | 103,379,742 | |
| ChinaPacificLifeInsuranceCo.,Ltd.-ChinaPacificLifeEquityDividendProduct(LifeProprietaryTrading)EntrustedInvestment(ChangjiangPension) | 37,812,274 | RMBCommonshares | 37,812,274 | |
| GuangdongProvincialFreewayCo.,Ltd. | 33,355,263 | RMBCommonshares | 33,355,263 | |
| HKSCC | 19,405,421 | RMBCommonshares | 19,405,421 | |
| ChinalifeinsuranceCo.,Ltd.－Traditional－Generalinsuranceproducts－005L－CT001Shanghai | 17,725,030 | RMBCommonshares | 17,725,030 | |
| OrientSecurities | 14,430,302 | RMBCommonshares | 14,430,302 | |
| XinyueCo.,Ltd. | 13,201,086 | Foreignsharesplacedindomesticexchange | 13,201,086 | |
| ChinaLifeInsuranceCo.,Ltd－Dividend－individualdividend－005L－FH002shanghai | 9,496,185 | RMBCommonshares | 9,496,185 | |
| Relatedoracting-in-concertpartiesamongshareholdersabove | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.，GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. | |||
| Participationoftop10unconditionalcommonshareshareholdersinsecuritiesmargintrading(ifany) | None | |||
Informationofshareholdersholdingmorethan5%oftheshares,thetop10shareholdersandthetop10shareholdersofunrestrictedtradablesharesparticipatinginthelendingofsharesinsecuritieslendingandborrowingbusiness
□Applicable?NotapplicableThetop10shareholdersandthetop10shareholdersofunrestrictedtradableshareshavechangedcomparedwiththepreviousperiodduetothesecuritieslending/returning,
□Applicable?Notapplicable(ii)Totalnumberofpreferredshareholdersandshareholdingoftop10preferredshareholdersbytheendofthereportperiod
□Applicable?NotapplicableIII.Otherimportantmatters
□Applicable?Notapplicable
IV.Quarterlyfinancialstatements（I）Financialstatement
1.ConsolidatedbalancesheetPreparedby：GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
InRMB
Item
| Item | Endingbalance | Openingbalance |
| Currentasset： | ||
| Monetaryfund | 5,459,341,832.65 | 4,289,826,663.22 |
| Settlementprovision | ||
| Outgoingcallloan | ||
| Transactionalfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountreceivable | 115,846,994.43 | 82,361,054.69 |
| Financingreceivable | ||
| Prepayments | 6,159,875.75 | 3,732,159.00 |
| Insurancereceivable | ||
| Reinsurancereceivable | ||
| ProvisionsofReinsurancecontractsreceivable | ||
| Otheraccountreceivable | 259,524,135.79 | 148,857,119.34 |
| Including：Interestreceivable | ||
| Dividendreceivable | 8,278,606.56 | 28,621,800.58 |
| Repurchasingoffinancialassets | ||
| Inventories | ||
| Including：Dataresources | ||
| Contractassets | ||
| Assetsheldforsales | ||
| Non-currentassetduewithin1year | ||
| Othercurrentasset | 7,749,814.60 | 6,167,340.16 |
| Totalofcurrentassets | 5,848,622,653.22 | 4,530,944,336.41 |
| Non-currentassets： | ||
| Loansandpaymentonother’sbehalfdisbursed | ||
| Creditor'sInvestment | ||
| OtherCreditor'sInvestment | ||
| Long-termreceivable | ||
| Longtermshareequityinvestment | 4,269,165,787.49 | 3,332,350,008.84 |
| Otherequityinstrumentsinvestment | 848,453,504.68 | 1,768,953,885.85 |
| Othernon-currentfinancialassets | 186,494,177.20 | 186,494,177.20 |
Item
| Item | Endingbalance | Openingbalance |
| Propertyinvestment | 2,060,072.60 | 2,225,911.46 |
| Fixedassets | 8,127,333,529.06 | 8,872,808,692.97 |
| Constructioninprogress | 3,868,913,584.86 | 2,665,392,094.81 |
| Productionphysicalassets | ||
| Oil&gasassets | ||
| Userightassets | 6,436,698.93 | 14,217,517.99 |
| Intangibleassets | 179,497,841.24 | 197,694,153.19 |
| Including：Dataresources | ||
| Developmentexpenses | ||
| Including：Dataresources | ||
| Goodwill | ||
| Long-germexpensestobeamortized | ||
| Deferredincometaxasset | 31,197,612.41 | 32,679,298.44 |
| Othernon-currentasset | 841,188,140.96 | 837,904,037.77 |
| Totalofnon-currentassets | 18,360,740,949.43 | 17,910,719,778.52 |
| Totalofassets | 24,209,363,602.65 | 22,441,664,114.93 |
| Currentliabilities | ||
| Short-termloans | 236,085,052.77 | |
| LoanfromCentralBank | ||
| Borrowingfunds | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountpayable | 144,065,157.18 | 226,104,482.05 |
| Advancereceipts | 728,041.45 | 250,984.74 |
| Contractliabilities | ||
| Sellingofrepurchasedfinancialassets | ||
| Deposittakingandinterbankdeposit | ||
| Entrustedtradingofsecurities | ||
| Entrustedsellingofsecurities | ||
| Employees’wagepayable | 21,924,627.54 | 22,412,317.23 |
| Taxpayable | 243,385,779.41 | 131,748,260.36 |
| Otheraccountpayable | 273,542,612.82 | 272,118,036.92 |
| Including：Interestpayable | ||
| Dividendpayable | 78,109,933.98 | 32,714,825.12 |
| Feesandcommissionspayable | ||
| Reinsurancefeepayable | ||
| Liabilitiesheldforsales | ||
| Non-currentliabilityduewithin1year | 269,519,296.89 | 1,017,246,515.19 |
| Othercurrentliability | 60,381.20 | 73,697.84 |
| Totalofcurrentliability | 1,189,310,949.26 | 1,669,954,294.33 |
| Non-currentliabilities： |
Item
| Item | Endingbalance | Openingbalance |
| Reservefundforinsurancecontracts | ||
| Long-termloan | 7,679,319,197.28 | 6,728,264,750.00 |
| Bondpayable | ||
| Including：preferredstock | ||
| Sustainabledebt | ||
| Leaseliability | 0.00 | 2,730,189.11 |
| Long-termpayable | 2,022,210.11 | 2,022,210.11 |
| Long-termremunerationpayabletostaff | ||
| Expectedliabilities | ||
| Deferredincome | 1,026,969,500.69 | 511,971,907.34 |
| Deferredincometaxliability | 279,734,005.35 | 330,830,731.06 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 8,988,044,913.43 | 7,575,819,787.62 |
| Totalofliability | 10,177,355,862.69 | 9,245,774,081.95 |
| Owners’equity | ||
| Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
| Otherequityinstruments | ||
| Including：preferredstock | ||
| Sustainabledebt | ||
| Capitalreserves | 782,911,089.06 | 782,661,218.56 |
| Less：Sharesinstock | ||
| Othercomprehensiveincome | 219,939,679.24 | 366,149,871.08 |
| Specialreserve | ||
| Surplusreserves | 1,691,288,205.66 | 1,684,087,655.64 |
| Commonriskprovision | ||
| Retainedprofit | 6,060,880,463.88 | 5,544,395,448.25 |
| Totalofowner’sequitybelongtotheparentcompany | 10,845,825,563.84 | 10,468,100,319.53 |
| Minorityshareholders’equity | 3,186,182,176.12 | 2,727,789,713.45 |
| Totalofowners’equity | 14,032,007,739.96 | 13,195,890,032.98 |
| Totalofliabilitiesandowners’equity | 24,209,363,602.65 | 22,441,664,114.93 |
LegalRepresentative:MiaoDeshanPersoninchargeofaccounting：LuMingPersoninchargeofaccountingorgan:YanXiaohong
2.ConsolidatedIncomestatementbetweenthebeginningoftheyearandendofthereportperiod
InRMB
| Item | Currentperiod | Lastperiod |
| I.Incomefromthekeybusiness | 3,362,508,742.41 | 3,502,315,797.54 |
Incl：
Businessincome
| Incl：Businessincome | 3,362,508,742.41 | 3,502,315,797.54 |
| Interestincome | ||
| Insurancefeeearned | ||
| Feeandcommissionreceived | ||
| II.Totalbusinesscost | 1,236,518,371.34 | 1,339,950,703.84 |
| Incl：Businesscost | 1,046,182,622.13 | 1,112,366,834.79 |
| Interestexpense | ||
| Feeandcommissionpaid | ||
| Insurancedischargepayment | ||
| Netclaimamountpaid | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Insurancepolicydividendpaid | ||
| Reinsuranceexpenses | ||
| Businesstaxandsurcharge | 15,255,281.68 | 14,878,442.83 |
| Salesexpense | ||
| Administrativeexpense | 126,578,611.96 | 127,366,585.10 |
| R&Dcosts | 834,506.13 | 428,800.85 |
| Financialexpenses | 47,667,349.44 | 84,910,040.27 |
| Including：Interestexpense | 86,764,955.47 | 126,147,298.91 |
| Interestincome | 39,274,606.96 | 46,729,223.12 |
| Add:Otherincome | 2,008,824.61 | 8,302,649.80 |
| Investmentgain（“-”forloss） | 207,761,041.22 | 256,646,753.46 |
| Incl:investmentgainsfromaffiliates | 161,676,368.41 | 176,326,400.42 |
| Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
| Gainsfromcurrencyexchange | ||
| Netexposurehedgingincome | ||
| Changingincomeoffairvalue | ||
| Creditimpairmentloss | 326,161,212.43 | -66,191,796.05 |
| Impairmentlossofassets | ||
| Assetsdisposalincome | 0.00 | -2,330.78 |
| III.Operationalprofit（“-”forloss） | 2,661,921,449.33 | 2,361,120,370.13 |
| Add：Non-operationalincome | 5,844,780.10 | 4,434,512.31 |
| Less:Non-operatingexpense | 3,998,170.34 | 4,206,240.59 |
| IV.Totalprofit(“-”forloss) | 2,663,768,059.09 | 2,361,348,641.85 |
| Less：Incometaxexpenses | 548,283,557.89 | 552,541,863.60 |
| V.Netprofit | 2,115,484,501.20 | 1,808,806,778.25 |
| (I)Classificationbybusinesscontinuity | ||
| 1.Netcontinuingoperatingprofit | 2,115,484,501.20 | 1,808,806,778.25 |
| 2.Terminationofoperatingnetprofit | ||
| (II)Classificationbyownership | ||
| 1.Netprofitattributabletotheownersofparentcompany | 1,545,171,669.34 | 1,356,400,701.34 |
| 2.Minorityshareholders’equity | 570,312,831.86 | 452,406,076.91 |
| VI.Netafter-taxofothercomprehensiveincome | -92,206,066.69 | 141,548,387.55 |
Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany.
| Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany. | -92,206,066.69 | 141,548,387.55 |
| （I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -64,761,347.91 | 142,830,189.09 |
| 1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
| 2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | 10,348,586.52 | 2,170,801.12 |
| 3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -75,109,934.43 | 140,659,387.97 |
| 4.Changesinthefairvalueofthecompany’screditrisks | ||
| 5.Other | ||
| （II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | -27,444,718.78 | -1,281,801.54 |
| 1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | -27,444,718.78 | -1,281,801.54 |
| 2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5.Reserveforcashflowhedges | ||
| 6.Translationdifferencesincurrencyfinancialstatements | ||
| 7.Other | ||
| NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity | ||
| VII.Totalcomprehensiveincome | 2,023,278,434.51 | 1,950,355,165.80 |
| Totalcomprehensiveincomeattributabletotheowneroftheparentcompany | 1,452,965,602.65 | 1,497,949,088.89 |
| Totalcomprehensiveincomeattributableminorityshareholders | 570,312,831.86 | 452,406,076.91 |
| VIII.Earningspershare | ||
| （I）Basicearningspershare | 0.74 | 0.65 |
| (II)Dilutedearningspershare | 0.74 | 0.65 |
Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievednetprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.LegalRepresentative:MiaoDeshanPersoninchargeofaccounting：LuMingPersoninchargeofaccountingorgan:YanXiaohong
3.ConsolidatedCashFlowStatementBetweentheBeginningoftheYearandEndoftheReportPeriod
InRMB
Item
| Item | Currentperiod | Lastperiod |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 3,421,374,296.19 | 3,600,244,630.11 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | ||
| Othercashreceivedconcerningoperatingactivities | 994,701,254.32 | 85,159,413.33 |
| Subtotalofcashinflowarisingfromoperatingactivities | 4,416,075,550.51 | 3,685,404,043.44 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 144,546,471.56 | 161,667,937.66 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 325,845,382.43 | 320,083,015.53 |
| Taxespaid | 557,185,593.41 | 612,636,941.38 |
| Othercashpaidconcerningoperatingactivities | 343,786,757.37 | 59,475,118.91 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 1,371,364,204.77 | 1,153,863,013.48 |
| Netcashflowsarisingfromoperatingactivities | 3,044,711,345.74 | 2,531,541,029.96 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 107,111,100.00 | 0.00 |
| Cashreceivedfrominvestmentincome | 118,033,996.77 | 109,482,345.12 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 51,891.00 | 378,775.00 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | 0.00 | 0.00 |
| Othercashreceivedconcerninginvestingactivities | 454,422.50 | 3,892,567.08 |
| Subtotalofcashinflowfrominvestingactivities | 225,651,410.27 | 113,753,687.20 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 1,220,870,780.62 | 1,414,199,749.23 |
| Cashpaidforinvestment | 23,238,000.00 | 201,662,000.00 |
Item
| Item | Currentperiod | Lastperiod |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 726,068.90 | 3,500,000.00 |
| Subtotalofcashoutflowfrominvestingactivities | 1,244,834,849.52 | 1,619,361,749.23 |
| Netcashflowsarisingfrominvestingactivities | -1,019,183,439.25 | -1,505,608,062.03 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | 83,125,000.00 | 128,937,500.00 |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 83,125,000.00 | 128,937,500.00 |
| Cashreceivedfromloans | 3,025,000,000.00 | 1,090,955,084.00 |
| Othercashreceivedconcerningfinancingactivities | 40,092,886.12 | |
| Subtotalofcashinflowfromfinancingactivities | 3,108,125,000.00 | 1,259,985,470.12 |
| Cashpaidforsettlingdebts | 2,562,546,484.24 | 781,168,025.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 1,405,258,390.77 | 1,669,123,284.18 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | 151,725,000.00 | 331,401,407.05 |
| Othercashpaidconcerningfinancingactivities | 8,656,844.56 | 6,371,033.31 |
| Subtotalofcashoutflowfromfinancingactivities | 3,976,461,719.57 | 2,456,662,342.49 |
| Netcashflowsarisingfromfinancingactivities | -868,336,719.57 | -1,196,676,872.37 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 408,844.19 | -4,587,996.33 |
| V.Netincreaseofcashandcashequivalents | 1,157,600,031.11 | -175,331,900.77 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 4,259,653,084.58 | 4,701,657,434.00 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 5,417,253,115.69 | 4,526,325,533.23 |
（II）TheCompanystartedimplementingtheupdatedaccountingstandardscommencingfrom2025andadjustedtherelevantitemsinthefinancialstatementsatthebeginningoftheveryyearinvolvedintheinitialimplementationofthesaidstandards
□Applicable?Notapplicable(iii)Auditors'ReportWhethertheThirdQuarterlyfinancialreporthasbeenauditedornot
□Yes√NoTheThirdQuarterlyfinancialreportoftheCompanyhasnotbeenaudited.
TheBoardofDirectorsofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.
October29,2025