Revenue and Profitability - Revenue increased by approximately 46.91% to approximately RMB 2,931,294 thousand compared to the previous year[2] - Profit attributable to owners of the parent decreased by approximately 8.41% to RMB 781,691 thousand compared to the previous year[2] - Earnings per share for the year was approximately RMB 0.39[2] - Proposed final dividend for the year 2022 is RMB 0.18 per share (tax included)[2] - Total customer contract revenue for 2022 was RMB 2,926,631,000, an increase of 47% from RMB 1,990,532,000 in 2021[19] - Revenue from highway operations decreased to RMB 1,559,161,000 in 2022, down 12% from RMB 1,772,904,000 in 2021[18] - Construction business revenue surged to RMB 1,091,834,000 in 2022, compared to RMB 180,516,000 in 2021, reflecting a growth of 505%[19] - Sales of industrial products reached RMB 266,993,000 in 2022, a significant increase from RMB 34,878,000 in 2021[18] - Total revenue from other businesses was RMB 8,643,000 in 2022, up from RMB 2,234,000 in 2021[18] - The company confirmed revenue of RMB 1,834,797,000 at a point in time and RMB 1,091,834,000 over a period in 2022[19] Financial Position - Total current assets increased significantly to RMB 2,413,297 thousand from RMB 828,150 thousand in 2021[5] - Total non-current assets rose to RMB 7,999,265 thousand from RMB 5,804,736 thousand in 2021[6] - Total liabilities increased to RMB 4,684,572 thousand from RMB 3,240,632 thousand in 2021[7] - Net assets increased to RMB 5,727,990 thousand from RMB 3,392,254 thousand in 2021[7] - The total accounts receivable net amount for 2022 is RMB 416,943,000, significantly up from RMB 132,533,000 in 2021[54] - The impairment loss for accounts receivable increased to RMB 14,928,000 in 2022 from RMB 6,125,000 in 2021[55] - The contract assets from construction services rose to RMB 73,932,000 in 2022, compared to RMB 60,821,000 in 2021[57] - The prepayments and other receivables total RMB 807,302,000 in 2022, a significant increase from RMB 47,801,000 in 2021[53] - The company’s deferred tax assets totaled RMB 43,830,000 as of December 31, 2022, reflecting a decrease from the previous year[48] Accounting Standards and Policies - The group adopted revised Hong Kong Financial Reporting Standards for the first time this year, which did not impact the financial position or performance due to no business combinations occurring during the year[11] - The revision of Hong Kong Accounting Standard No. 16 prohibits entities from deducting any income generated during the process of getting property, plant, and equipment to the necessary location and condition from the cost of those assets[12] - The group has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating a stable accounting policy environment[13] - The group has consistently applied accounting policies across subsidiaries for the same reporting period, ensuring comparability in financial reporting[10] Operational Performance - The company is currently assessing the impact of new accounting standards on its financial statements, with no significant effects anticipated[15] - The company operates a single reportable segment, with all operations located in mainland China[16] - Revenue from highway operations recognized as toll income when vehicles pass through and payment is received or entitled[22] - The company is focusing on optimizing highway operation capabilities and enhancing the Qilu Expressway brand through diversified customer needs and differentiated charging measures[70] - The company aims to strengthen its capital operation and industrial operation platforms, with a focus on expanding external markets and sustainable development[70] - The company is actively promoting the Jizhao Highway expansion project, with significant progress in construction and quality management[71] - The company has implemented a series of reforms and management improvements to enhance operational efficiency and support high-quality development[71] - The company is committed to safety management, establishing a comprehensive risk prevention system to ensure no safety incidents occur[71] Investments and Financial Assets - The total value of structured bank deposits reached RMB 1,004,873,000 in 2022, indicating a new financial asset classification due to the nature of cash flows[61] - The company reported a significant increase in other payables, totaling RMB 332,498,000 in 2022, compared to RMB 200,906,000 in 2021, reflecting a rise in various liabilities[64] - The company holds approximately 38.93% of the issued shares of Shandong Expressway Group, which is a current controlling shareholder[116] - The company is focused on research and development of new technologies to enhance its service offerings and operational capabilities[116] Dividend and Shareholder Information - The board proposed a final cash dividend of RMB 0.18 per share, totaling RMB 360 million for the fiscal year ending December 31, 2022[111] - The dividend distribution plan will be submitted for approval at the 2022 Annual General Meeting scheduled for June 27, 2023[111] - The company will suspend share transfer registration from May 26, 2023, to June 27, 2023, to determine eligible shareholders for the AGM[110] - The dividend is set to be paid on August 31, 2023, subject to any changes announced in accordance with listing rules[111] - The company will withhold a 10% corporate income tax on dividends paid to non-resident shareholders[112] - The company will not withhold any corporate income tax for resident shareholders who provide legal opinions confirming their status[112] - The company will not withhold individual income tax on dividends paid to foreign individual shareholders[112] Market Trends and Future Outlook - The company has identified opportunities for growth in the transportation industry, driven by trends towards value-added, personalized, and high-value services, as well as the "dual carbon" strategy promoting green materials and technologies[67] - The company aims to enhance profitability and core competitiveness while focusing on high-quality development in 2023[104] - The first and second phases of the Jihe Expressway expansion project will involve traffic control measures from February 16, 2023, to December 31, 2023, which may impact traffic volume and toll revenue[105] - The company is exploring new strategies for market expansion and potential mergers and acquisitions to strengthen its market position[116]