4月3日股市必读：招商公路年报 - 第四季度单季净利润同比减51.67%

Core Viewpoint - As of April 3, 2025, China Merchants Highway (招商公路) reported a closing price of 12.93 yuan, down 3.58%, with a trading volume of 441,900 shares and a transaction value of 560 million yuan [1] Trading Information Summary - On April 3, 2025, the net inflow of main funds into China Merchants Highway was 24.21 million yuan, accounting for 4.32% of the total transaction value; the net inflow of speculative funds was 23.91 million yuan, accounting for 4.27%; while retail investors experienced a net outflow of 48.12 million yuan, accounting for 8.58% [2][7] Shareholder Changes - As of March 31, 2025, the number of shareholders of China Merchants Highway increased to 31,600, an increase of 791 from December 31, 2024, representing a growth rate of 2.57%. The average number of shares held per account decreased from 221,500 shares to 215,900 shares, with an average market value of 2.8591 million yuan [3][7] Performance Disclosure Highlights - The 2024 annual report of China Merchants Highway indicated that the total revenue reached 12.711 billion yuan, a year-on-year increase of 30.62%. However, the net profit attributable to the parent company was 5.322 billion yuan, a year-on-year decrease of 21.35%. The net profit after deducting non-recurring gains and losses was 4.858 billion yuan, down 4.66% year-on-year. In Q4 2024, the quarterly revenue was 3.634 billion yuan, up 15.15% year-on-year, while the quarterly net profit attributable to the parent company was 1.162 billion yuan, down 51.67% year-on-year. The company's debt ratio stood at 44.22%, with investment income of 4.998 billion yuan, financial expenses of 1.72 billion yuan, and a gross profit margin of 34.09% [4][7] Company Announcement Summary - China Merchants Highway announced a profit distribution plan for 2024, proposing a cash dividend of 4.17 yuan per 10 shares (including tax) based on a total share capital of 6,820,337,394 shares as of March 31, 2025. The total dividend amount is 2.844 billion yuan, accounting for 53.44% of the net profit attributable to the parent company for 2024. This plan has been approved by the board and supervisory committee and is subject to shareholder meeting approval [5][7]