TigerResearch/tigerbot-earning-plugin huggingface dataset:
Foreign natural person shares
II.Shares with unconditional subscription
1,651,551,409 78.99% 421,322 421,322 1,651,972,731 79.01%
1.Common
shares in RMB
1,302,902,734 62.32% 421,322 421,322 1,303,324,056 62.34%
2.Foreign shares in domestic market
348,648,675 16.68% 348,648,675 16.68%
3.Foreign shares in
foreign market
4.Other 0 0.00% 0 0.00% III. Total of
capital shares
2,090,806,126 100.00% 0 0 2,090,806,126
Reasons for share changed√Applicable □Not applicable
1. During the reporting period, the 419,372 shares held by 36 shareholders were lifted, and the shares were
changed from "domestic legal person shareholding" and "domestic natural person shareholding" to "unlimited sale conditional shares".
2. During the reporting period,
The 1,950 "restricted shares held by domestic natural persons" held by the resigned directorMr. Du Jun were con verted into "unrestricted shares"
Approval of Change of Shares□Applicable √Not applicable
Ownership transfer of share changes□Applicable √Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common shareholders of Company in latest year and period
Other information necessary to disclose for the company or need to disclosed under requirement from security regulators
2. Change of shares with limited sales condition√Applicable □Not applicable
Shareholder Name
Initial Restricted Shares
Number of Unrestricted
Shares This Term
Number of Increased
Restricted Shares This Term
Restricted Shares in the End of the Term
Reason for Restricted Shares
Date of Restriction Removal
Kong Lingbin and other 35
99,797 99,797 0
Release of
restrictions on sales
January19,2022
Foshan Shunde Yunlong
Development Co., Ltd.
319,575 319,575 0
Du Jun 7,800 1,950 5,850
Outgoing executives locked up shares
January4,2022
Total 427,172 0 421,322 5,850 -- --
II. Securities issue and listing
1.Explanation of the Situation of the Security Issue(No Preferred Shares) in the Report Period□Applicable √Not applicable
2.Change of asset and liability structure caused by change of total capital shares and structure□Applicable √Not applicable
3.About the existing employees’shares□Applicable √Not applicable
III. Shareholders and actual controlling shareholder
1. Number of shareholders and shareholding
In Shares
Total number of
common sharehol ders at the end
47,593
shareholders at the end of the month from the date of
disclosing the annual report
48,276
The total number of preferred shar eholders voting rights restored at p eriod-end (if any)(Note 8)
Total preference shareholders with voting rights
recovered at end of last month before annual
report disclosed(if
of the reportin g period
any)(Note8)
Particulars about shares held above 5% by shareholders or top ten shareholders
Nature of
shareho lder
Proport ion of shares held(%)
Number of shares held at period -end
Changes in reporting period
Amount of restricted shares held
Amount of un- restricted shares held
Number of share
pledged/froze n
State of share
Amo unt
Communication Group Co.,Ltd
State- owned legal person
24.56% 513,485,480 410,105,738
103,379,742
Guangdong Highway
Construction Co., Ltd,
22.30% 466,325,020
Shangdong Expressway Investment
10.10% 211,069,245 8,640,096
Tibet Hetai Business
management Co.,Ltd.
4.84% 101,214,574
Guangdong Provincial
Freeway Co.,Ltd.
2.53% 52,937,491 19,582,228
33,355,26
FengWuchu
Domest ic
1.12% 23,374,405 1,786,434
insurance Co., Ltd.-Dividend
Other 1.10% 22,985,230 6,142,752
Xinyue Co., Ltd.
Oversea s legal person
0.63% 13,201,086
insurance Co., Ltd.-Self funds
Other 0.59% 12,365,708 -113,100
Other 0.58% 12,115,799
Strategic investor or general legal person becoming top-10
ordinary shareholder due to rights issue (if any) (see note 3)
Related or acting-in- concert parties among shareholders above
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong Highway Construction Co., Ltd.,Guangdong Provincial Freeway Co.,Ltd. and Xinyue Co., Ltd., It is unknown whether there is relationship between other shareholders and whether they are persons taking concerted action specified in the Regulations on Disclosure of Information about Change in Shareholding of Shareholders of Listed Companies.
Above shareholders
entrusting or entrusted with voting rights, or waiving voting rights
Top 10 shareholders including the special account for repurchase(if any) (see note 10)
Shareholding of top 10 shareholders of unrestricted shares
Name of the shareholder
Quantity of unrestricted shares held at the end of the reporting
Share type
Share type Quantity
Guangdong Highway Construction Co., Ltd,
466,325,020
Common shares
Shangdong Expressway Investment Development Co., Ltd.
211,069,245
Tibet Hetai Business management Co.,Ltd.
101,214,574
33,355,263
FengWuchu 23,374,405
20,627,042
shares placed in domestic
2,747,363
Happy life insurance Co., Ltd.-Dividend
22,985,230
Xinyue Co., Ltd. 13,201,086
13,201,086
Happy life insurance Co., Ltd.-Self funds
12,365,708
12,115,799
Explanation on associated relationship or consistent action among the top 10 shareholders of non-
restricted negotiable shares and that between the top10 shareholders of non-
restricted negotiable shares and top 10 shareholders
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong Highway Construction Co., Ltd. ,Guangdong Provincial Freeway Co.,Ltd. and Xinyue Co., Ltd. ,It is unknown whether there is relationship between other shareholders and whether they are persons taking concerted action specified in the Regulations on Disclosure of Information about Change in Shareholding of Shareholders of Listed Companies.
Top 10 ordinary
shareholders conducting securities margin trading(if any) (see note 4)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy- back agreement dealing in reporting period.
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy –back agreement dealing in reporting period.
2.Controlling shareholder
Nature of Controlling Shareholders: Local state holding Type: Legal person
Name of the Controlling
shareholder
representative/Leader
Date of
Organization code Principal business activities
Communication Group Co., Ltd.
Deng Xiaohua June 23,2000 91440000723838552J
Equity management, organization of asset reorganization and optimized allocation, raising funds by means
including mortgage, transfer of property rights and joint stock system
transformation, project investment, operation and management, traffic infrastructure construction, highway and railway project operation and relevant industries, technological
development, application, consultation and services, highway and railway passenger and cargo transport, ship
industry, relevant overseas businesses; Value added telecommunication
Equity in other
domestic and foreign listed companies held by the controlling
shareholder by means of control and mutual shareholding in the reporting period
Guangdong Communication Group Co., Ltd. holds 74.12% equity of Guangdong Yueyun Traffic Co., Ltd., a company listing H shares.
Changes of controlling shareholder in reporting period□Applicable √Not applicable
No changes of controlling shareholder for the Company in reporting period.
3.Information about the controlling shareholder of the Company Actual controller nature:Local state owned assets management Actual controller type:Legal person
Name of the actual controller
State-owned Assets supervision and administration
Commission of
Guangdong Provincial People’s Government
Li Cheng June 26,2004 114400007583361658
As an ad hoc organization directly under the Guangdong provincial government, it is authorized by the Guangdong provincial government to represent the Guangdong
provincial government to perform the investor's duties for the
supervised enterprises in accordance with the law,
specializing in the supervision of state-owned assets.
Equity of other
domestic/foreign listed company with share controlling and share participation by
controlling shareholder in reporting period
As an ad hoc organization directly under the Guangdong provincial government, it is authorized by the Guangdong provincial government to represent the Guangdong provincial government to perform the investor's duties for the supervised enterprises in accordance with the law, specializing in the supervision of state-owned assets.
No changes of controlling shareholder for the Company in reporting period
Block Diagram of the ownership and control relations between the company and the actual controller
The actual controller controls the company by means of trust or managing the assets in other way□Applicable √Not applicable
4.The cumulative number of shares pledged by the controlling shareholder or the largest shareholder of the company and its person acting in concert accounts for 80% of the number of shares held by the company
5.Particulars about other legal person shareholders with over 10% share held√Applicable □Not applicable
Legal person shareholder
person/person in charge of the unit
Date of foundation
Register capital
Main operation business or management activities
Wang Kangchen
16,1987
10.8 billion
Highway, bridge, tunnel bridge, traffic infrastructure construction, investment and management, technical
consulting, leasing of road construction machinery; sales of construction materials, construction machinery equipment; vehicle rescue services
(operated by the branch).
6.Situation of Share Limitation Reduction of Controlling Shareholders, Actual Controllers, Restructuring Party and Other Commitment Subjects
IV. Specific implementation of share repurchase during the reporting period
Progress in implementation of share repurchase□Applicable √Not applicable
Implementation progress of reducing repurchased shares by centralized bidding□Applicable √Not applicable
24.56% 2.53%
Guangdong Provincial Expressway Development Co., Ltd
Guangdong Province Transportation Development Co.,
22.30%0.10%
Guangdong Province Expressway Co., Ltd.
State-owned Assets Supervision and Administration Commission the people’s Government of Guangdong Province
VIII. Situation of the Preferred Shares
The Company had no preferred shares in the reporting period.
IX. Corporate Bond
I. Enterprise bond
II. Corporate bond
III. Debt financing instruments of non-financial enterprises
1.Basic information
Bond name Bond short name
Bon d code
Issue day
Value date
Due day
Bond balanc e
Inter est rate
Servicing way Trading
Guangdong Provincial Expressway Develo pment Co., Ltd. 2019 first phase medium- term notes
19 Guangdong Expressway MTN001
101900252
Februar y
March1,2019
March1,2024
679,476,476.99
Due payments once a
year, The principal and the last instalment interest are p aid in one lump sum on the redemption date.
Interba nk mar ket
Guangdong Provincial Expressway Develo pment Co., Ltd. 2020 first phase medium- term notes
20 Guangdong Expressway MTN001
102000367
March13,2020
March17,2020
March17,2025
748,904,755.95
Applicable trading mechanism
Circulation and transfer in the national inter-
bank bond market, its listing and circulation will be carried out in accordance with the relevant regulations promulgat ed by the National Interbank Funding Center.
Overdue and unpaid bonds
2. Trigger and implementation of option clauses and investor protection clauses of the issuer or investor
3.Information of intermediary agency
Name of bond project
Name of intermediary agency
Name of signing accountant
Contact person of intermediar y agency
19 Guangdong
ExpresswayMTN001
China Lianhe Credit Rating Co., Ltd.
No.2 Jianguomenwai Street, Chaoyang District, Beijing
No Yang Ting 010-85679696
20 Guangdong
Whether the above agency changes during the reporting period□Yes √No
4. Use of raised funds
The raised funds are used for construction projects□Applicable √Not applicable
During the reporting period, the Company changed the use of funds raised from the above bonds□Applicable √Not applicable
5.Adjustment of credit rating results during the reporting period
6 The implementation and changes of guarantee, debt repayment plan and other debt repayment guarantee measures during the reporting period and their impact on the rights and interests of bond investors
IV. Convertible bond
V. The loss within the scope of consolidated statements in the reporting period exceeded 10% of the net assets at the end of the previous year
VI.Overdue interest-bearing debts except bonds at the end of the reporting period
VII.Whether there are any violations of rules and regulations during the reporting period
Total amount of raised funds
Used amount
Unused amount
Operation of
special account for raised funds (if any)
Rectification of illegal use of raised funds (if any)
Whether it is consistent with the purpose, use plan and other agreements stipulated in the prospectus
680,000,000.00 680,000,000.00 0.00 No No Yes
750,000,000.00 750,000,000.00 0.00 No No Yes
VIII. Main accounting data and financial indicators of the Company in recent two years by the end of the reporting period
In RMB10,000
At the end of the reporting
At the end of last year
At the same time rate of
Current ratio 2.9 2.7 7.41% Debt ratio 43.90% 40.02% 3.88% Quick ratio 2.89 2.70 7.04%
Amount of this period Amount of last period
Net profit after deducting
non-recurring profit and loss
131,159.93 169,309.16 -22.53%
EBITDA total debt ratio 45.43% 72.85% -27.42% Time interest earned ratio 10.37 11.88 -12.71% Cash interest guarantee times 14.29 15.42 -7.33% EBITDATime interest earned
14.60 16.29 -10.37%
Repayment of debt (%) 100% 100% —— Payment of interest (%) 100% 100% ——
X. Financial Report
I. Audit report
Type of audit opinion Standard Unqualified audit opinion Date of signature of audit report March 20,2023
Name of audit firm
Yong Tuo Certified Public Accountants (special general partnership)
Names of the Certified Public Accountants Shi Shaoyu, Huang Zhiyan
Auditors’Report
To all shareholders of Guangdong Provincial Expressway Development Co., Ltd.
I. Opinion
We have audited the financial statements of Guangdong Provincial Expressway Development Co., Ltd.(hereinafter referred to as "the Company"), which comprise the balance sheet as at December 31, 2022, and the income statement, the statement of cash flows and the statement of changes in owners' equity for the year then ended and notes to the financial statements.
In our opinion, the attached financial statements are prepared, in all material respects, in accordance with Accounting Standards for Business Enterprises and present fairly the financial position of the Company as at December 31, 2022 and its operating results and cash flows for the year then ended.
II. Basis for Our Opinion
We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants in China. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. According to the Code of Ethics for Chinese CPA, we are independent of the Company in accordance with the Code of Ethics for Chinese CPA and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
III. Key AuditMatters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.We have identified the following items as key audit items that need to be communicated in the audit report.
Depreciation of fixed assets toll road
1. Item description
As described in "Notes III. 15 Fixed Assets to the Financial Statements" and "Notes V. 12 Fixed Assets to the Financial Statements": the book value of the toll roads of Guangdong Expressway Group at the end of 2022 was RMB 9,414,934,465.06 , the depreciation amount of toll roads in 2022 is RMB 862,070,448.52, The Guangdong Expressway Group toll road is depreciated according to the traffic flow method, and the current depreciation amount is calculated according to the proportion of the actual traffic flow in the current period to the estimated remaining total traffic flow in the operation period. The total traffic flow during the operation period refers to the forecast of the total traffic flow of Guangdong Expressway Group during the operation period, which is a major accounting estimate. Therefore, we have determined the pricing and depreciation of the toll roads of Guangdong Expressway Group as the key audit items.
2. Audit response
In response to the above key audit matter, we have implemented the following main audit procedures:
(1)Understand, evaluate and test the internal control of the management of the Company on the daily management and accounting treatment of toll roads;
(2)Check whether the actual traffic flow data applied by Guangdong Expressway Company in the depreciation calculation of toll roads is consistent with the actual traffic flow data obtained by Guangdong Expressway Company from external service units;
(3)Evaluate the independence and professional competence of the third-party organization employed by the Company that carries out traffic flow forecast;
(4) Understand the methods used in traffic flow forecast reports issued by third-party organizations to forecast the traffic flow in the future, and evaluate the reliability of traffic flow forecast reports by comparing the predicted traffic flow for the past year with the actual traffic flow for that period;
(5) Recalculate the depreciation of roads and bridges to verify the accuracy of the depreciation amount of roads and bridges in the financial statements.
II. Performance compensation
In 2020, Guangdong Expressway acquired the 21% stake of Guangdong Guanghui Expressway Co., Ltd(hereinafter referred to as "Guanghui Expressway") held by Provincial Expressway. The year of 2022 was the
last year of the performance commitment by the target asset transferor of Province Expressway. However due to the impact of the Public health events, the three-year cumulative net profit of Guanghui Expressway by the end of 2022 had failed to achieve the cumulative profit forecast in the relevant performance commitment. The
management and the asset transferor will negotiate matters related to the performance commitment in
accordance with the provisions of the Profit Compensation Agreement and the actual situation of Guanghui
Expressway's performance affected by the Public health events, and the contingent consideration formed by the performance compensation has not been recognized at present. Due to the material amount of the matter and the significant judgment of management, therefore it’s identified that the performance compensation as a key audit matter. For matters relating to performance compensation, please refer to the notes to the consolidated financial statements "XIII. Other ImportantMatters".
(1) Read the letter of the transferor of the underlying asset to understand the reasons and demands of the transferor for the target asset of failing to fulfill the performance commitment;
(2) Read the minutes of the management meeting of Guangdong Expressway and interviewed the Guangdong Expressway management to understand their evaluation of the reasons and demands of the transferor of the target assets;
(3) Reviewed the "Profit Compensation Agreement" signed by the transferor of the target asset to understand the management's evaluation of the main terms of the agreement;
(4) Reviewed the process of calculating performance compensation by the management and evaluated whether the confirmation amount was accurate;
(5) Evaluated whether the economic benefits associated with the asset is likely to flow in.
IV. Other information
The management of Guangdong Expressway Company is responsible for other information. Other information includes the information covered in the 2022 annual report of Guangdong Expressway Company, but does not include the financial statement and our audit report.
Our audit opinion on the financial statements does not cover other information, and we do not issue any form of verification conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information, and consider in such process whether other information is materially inconsistent with the financial statements or the information we learned during the audit, or whether there appears to be a material misstatement.
Based on the work that we have already performed, if we determine that other information contains material misstatements, we should report such fact. In this regard, we have nothing to report.
V. Responsibilities ofManagement and Those Charged with Governance for the Financial Statements
The Company's management is responsible for preparing the financial statements in accordance with the requirements of Accounting Standards for Business Enterprises to achieve a fair presentation, and for designing, implementing and maintaining internal control that is necessary to ensure that the financial statements are free from material misstatements, whether due to frauds or errors.
In preparing the financial statements, management of the Company is responsible for assessing the Company's ability to continue as a going concern, disclosing matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company's financial reporting process.
VI. Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the audit standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit.We also:
(1) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or the override of internal control.
(3) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management of the Company.
(4) Conclude on the appropriateness of using the going concern assumption by the management of the Company, and conclude, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.