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Overseas Regulatory Announcement Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (incorporated in Bermuda with limited liability) (Stock Code: 00152) (the “Company”) OVERSEAS REGULATORY ANNOUNCEMENT The document attached hereto is the 2019 Interim Results Preliminary Announcement released by Shenzhen Expressway Company Limited, a subsidiary of the Company. Hong Kong, 23 August 2019 As at the date of this announcement, the board of directors of the Company consists of Messrs. Gao Lei, Li Hai Tao, Zhong Shan Qun, Liu Jun and Hu Wei as executive directors, Messrs. Xie Chu Dao and Liu Xiao Dong as non-executive directors and Messrs. Ding Xun, Nip Yun Wing, Dr. Yim Fung, JP and Professor Cheng Tai Chiu, Edwin as independent non-executive directors. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 深圳高速公路股份有限公司 SHENZHEN EXPRESSWAY COMPANY LIMITED (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 00548) 2019 Interim Results Preliminary Announcement I. Important Notice 1.1 Important Notice 2019 Interim Results Preliminary Announcement of the Company is extracted from full Interim Report 2019 of the Company. For detailed information, investor shall read the full interim report to be published on the website of SSE at http://www.sse.com.cn and HKEx at http://www.hkexnews.com.hk. The 2019 interim financial statements of the Company were prepared in accordance with CASBE, and also were complied with the disclosure requirements under the Hong Kong Companies Ordinance and the Listing Rules. Unless otherwise stated, the amounts stated in this announcement are in RMB. 1.2 Basic Information of the Company Type of share A Share H Share Abbreviation Shenzhen Expressway Shenzhen Expressway Stock code 600548 00548 Listing exchanges SSE HKEx Contacts and details Secretary of the Board Securities Officer Name LUO Kun GONG Xin, XIAO Wei Telephone (86) 755-8285 3331 (86) 755-8285 3338 Fax (86) 755-8285 3400 E-mail [email protected] - 1 - II. Interim Profit Distribution Proposal The Board does not recommend any payment of 2019 interim dividend (2018 Interim: Nil), nor does it recommend any conversion of capital reserve into share capital. III. Principal Financial Data and Information of the Shareholders 3.1 Principal Financial Data During the Reporting Period, the Group recorded revenue of RMB2,699,193,000, basically flat with the corresponding period of last year. Excluding the effect of the toll revenue from the Three Projects of RMB341,918,000 for the corresponding period of last year due to the government’s repurchase at the end of 2018, the comparable revenue increased by 15.57%, among which, the comparable toll revenue increased by 3.95%. In the first half of 2019, the Group recorded net profit attributable to owners of the Company (“net profit”) of RMB1,576,824,000 (2018 interim: RMB968,653,000), representing a YOY increase of 62.79%. This was mainly due to the completion of capital injection for Coastal Company, the recognition of deferred income tax asset related to a portion of previously deductible loss and the impairment of highway assets, and the increase in the Group’s investment income arising from the transfer of the whole equity interests and creditor’s rights in four subsidiaries (including Guizhou Shengbo) during the Reporting Period. Unit: RMB As at 30 Jun 2019 As at 31 Dec 2018 Change (Unaudited) (Audited) (%) Total assets 41,352,915,924.22 41,100,850,328.23 0.61 Owners’ equity attributable to owners of 17,420,586,928.12 17,387,090,943.28 0.19 the Company 2019 Interim 2018 Interim Change (Unaudited) (Unaudited) (%) Revenue 2,699,192,701.81 2,677,522,763.36 0.81 Net profit attributable to owners of the 1,576,824,356.13 968,653,293.65 62.79 Company Net profit attributable to owners of the Company 1,414,280,546.60 787,960,143.95 79.49 - excluding non-recurring items Net cash flows from operating activities 786,461,423.94 1,595,145,985.86 -50.70 Increase Return on equity - weighted average (%) 8.80 6.91 1.89 pct.pt Earnings per share - basic (RMB/share) 0.723 0.444 62.79 Earnings per share - diluted (RMB/share) 0.723 0.444 62.79 - 2 - 3.2 Information of the Total Number of Shareholders and the Top Ten Shareholders As at the end of the Reporting Period, based on the shareholders’ registers provided by the share registrars and the transfer offices of the Company in the PRC and Hong Kong, the information of the total number of shareholders and the top ten shareholders of the Company were as follows: Unit: share Total number of shareholders The Company had18,163 shareholders in total, as at the end of the Reporting Period including 17,932 holders of A Shares and 231 holders of H Shares. The top ten shareholders as at the end of the Reporting Period Number of Number of Nature of Number of restricted Name of shareholder Percentage shares pledged shareholders shares held circulating or frozen shares held Overseas HKSCC NOMINEES LIMITED note 33.48% 730,083,099 － Unknown legal person Xin Tong Chan Development (Shenzhen) State-owned 30.03% 654,780,000 － None Company Limited legal person Shenzhen Shen Guang Hui Highway Development State-owned 18.87% 411,459,887 － None Company Limited legal person China Merchants Expressway Network ＆ State-owned 4.00% 87,211,323 － None Technology Holdings Co.,Ltd. legal person Guangdong Roads and Bridges Construction State-owned 2.84% 61,948,790 － None Development Company Limited legal person Domestic Hong Kong Central Clearing Company Limited non-state-owned 1.57% 34,254,919 － Unknown legal person Domestic PICC Property and Casualty Company Limited – non-state-owned 0.56% 12,161,143 － Unknown Tradition - Return Portfolio legal person Overseas natural AU SIU KWOK 0.50% 11,000,000 － Unknown person Domestic China Life Insurance Company Limited - Dividend non-state-owned 0.38% 8,356,700 － Unknown - Individual Dividend - 005L - FH002 Shanghai legal person China Life Insurance Company Limited - Tradition Domestic - General Insurance Products - 005L - CT001 non-state-owned 0.31% 6,854,767 － Unknown Shanghai legal person XTC Company and SGH Company are connected persons under the same control of Shenzhen International. Connected relationship or There is no connected relationship among the state-owned shareholders concerted action relationship in the above table. The Company did not notice any connected among the abovementioned shareholders relationship among the other abovementioned shareholders or any connected relationship among the abovementioned state-owned shareholders and other shareholders. Note: The H shares held by HKSCC NOMINEES LIMITED were held on behalf of various clients. - 3 - IV. Management Discussion and Analysis In order to achieve the Company’s strategic goal of transformation and upgrading, in addition to upgrading and consolidating the core business of toll highway, the Group adheres to a market-oriented, specialised and industrialised approach to adjust and integrate its internal organisational structure and functions. It has gradually established various business platforms for urban infrastructure, environmental protection, operation, construction and advertising, which include the Investment Company, a company principally engages in the business of expanding infrastructure construction market as well as joint comprehensive development of land; the Operation Development Company, a company principally engages in the provision of highway operation, maintenance management services and intelligent transportation business; the Environmental Company, a company principally engages in the expansion of businesses relating to the general-environmental protection industry; the Construction Development Company, a company principally engages in the provision of project construction management services; and the Advertising Company, a company principally engages in the advertising resources rental and development business. Through the aforesaid platform companies, the Group will give full play to its own competitive advantages in operation of infrastructure as well as infrastructure management and integrated management, so as to expand its business sectors to construction and operation services of urban and transport infrastructure and joint comprehensive development of land. The Group will also actively extend its business scope to the upstream and downstream of the industrial chain and develop transportation planning, design consulting, operation maintenance, intelligent transportation system, advertising service, finance and other service-oriented businesses. In addition, the Group prudently seeks opportunities for cooperation with leading and branded enterprises in the environmental protection industry to enter the relevant environmental protection business sector from a high starting point, thereby gradually developing the Group’s professional competitive strengths in certain environmental protection segments and striving for greater rooms for the development of the Group’s operation. 4.1 Business Review At the current this stage, the Group’s revenues and profits are mainly derived from toll highway operations and investments, and the profit contribution of environmental protection business is gradually emerging. In addition, the Group provides outstanding construction management and highway operation management services for the government and other enterprises. Building on the relevant management experiences and resources and relying on its core business, the Group has launched businesses such as project development and management, advertising, engineering consulting, inter-network toll collection and financial businesses, etc.
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