%PDF-1.5%忏嫌
1 0 obj<</Lang(zh-TW)/Metadata 2 0 R/Pages 3 0 R/Type/Catalog/ViewerPreferences<</Direction/L2R>>>>endobj2 0 obj<</Length 2479/Subtype/XML/Type/Metadata>>stream
<?xpacket begin="锘? id="W5M0MpCehiHzreSzNTczkc9d"?>
<x:xmpmeta xmlns:x="adobe:ns:meta/" x:xmptk="Adobe XMP Core 9.1-c002 79.a6a6396, 2024/03/12-07:48:23        ">
   <rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#">
      <rdf:Description rdf:about=""
            xmlns:xmp="http://ns.adobe.com/xap/1.0/"
            xmlns:xmpMM="http://ns.adobe.com/xap/1.0/mm/"
            xmlns:stRef="http://ns.adobe.com/xap/1.0/sType/ResourceRef#"
            xmlns:stEvt="http://ns.adobe.com/xap/1.0/sType/ResourceEvent#"
            xmlns:dc="http://purl.org/dc/elements/1.1/"
            xmlns:pdf="http://ns.adobe.com/pdf/1.3/">
         <xmp:CreateDate>2026-03-31T22:19:06+08:00</xmp:CreateDate>
         <xmp:MetadataDate>2026-03-31T22:19:08+08:00</xmp:MetadataDate>
         <xmp:ModifyDate>2026-03-31T22:19:08+08:00</xmp:ModifyDate>
         <xmp:CreatorTool>Adobe InDesign 19.5 (Windows)</xmp:CreatorTool>
         <xmpMM:InstanceID>uuid:a964a0c8-f170-4f37-b258-d91dc826688b</xmpMM:InstanceID>
         <xmpMM:OriginalDocumentID>xmp.did:24ffb9b5-4f95-9841-a9ae-635e7e7ecba1</xmpMM:OriginalDocumentID>
         <xmpMM:DocumentID>xmp.id:d32347e8-2938-4440-8307-dc3985b1adcf</xmpMM:DocumentID>
         <xmpMM:RenditionClass>proof:pdf</xmpMM:RenditionClass>
         <xmpMM:DerivedFrom rdf:parseType="Resource">
            <stRef:instanceID>xmp.iid:eda2b304-bd4b-1e4c-a9ca-52b2af613780</stRef:instanceID>
            <stRef:documentID>xmp.did:12da8af3-218d-0144-af16-3a12dc330be6</stRef:documentID>
            <stRef:originalDocumentID>xmp.did:24ffb9b5-4f95-9841-a9ae-635e7e7ecba1</stRef:originalDocumentID>
            <stRef:renditionClass>default</stRef:renditionClass>
         </xmpMM:DerivedFrom>
         <xmpMM:History>
            <rdf:Seq>
               <rdf:li rdf:parseType="Resource">
                  <stEvt:action>converted</stEvt:action>
                  <stEvt:parameters>from application/x-indesign to application/pdf</stEvt:parameters>
                  <stEvt:softwareAgent>Adobe InDesign 19.5 (Windows)</stEvt:softwareAgent>
                  <stEvt:changed>/</stEvt:changed>
                  <stEvt:when>2026-03-31T22:19:06+08:00</stEvt:when>
               </rdf:li>
            </rdf:Seq>
         </xmpMM:History>
         <dc:format>application/pdf</dc:format>
         <pdf:Producer>Adobe PDF Library 17.0</pdf:Producer>
         <pdf:Trapped>False</pdf:Trapped>
      </rdf:Description>
   </rdf:RDF>
</x:xmpmeta>
<?xpacket end="r"?>
endstreamendobj3 0 obj<</Count 40/Kids[14 0 R 15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R]/Type/Pages>>endobj14 0 obj<</Count 5/Kids[5 0 R 6 0 R 7 0 R 8 0 R 9 0 R]/Parent 3 0 R/Type/Pages>>endobj15 0 obj<</Count 5/Kids[10 0 R 11 0 R 12 0 R 13 0 R 21 0 R]/Parent 3 0 R/Type/Pages>>endobj16 0 obj<</Count 5/Kids[22 0 R 23 0 R 24 0 R 25 0 R 26 0 R]/Parent 3 0 R/Type/Pages>>endobj17 0 obj<</Count 5/Kids[27 0 R 28 0 R 29 0 R 30 0 R 31 0 R]/Parent 3 0 R/Type/Pages>>endobj18 0 obj<</Count 5/Kids[32 0 R 33 0 R 34 0 R 35 0 R 36 0 R]/Parent 3 0 R/Type/Pages>>endobj19 0 obj<</Count 5/Kids[37 0 R 38 0 R 39 0 R 40 0 R 41 0 R]/Parent 3 0 R/Type/Pages>>endobj20 0 obj<</Count 10/Kids[42 0 R 43 0 R 44 0 R 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R]/Parent 3 0 R/Type/Pages>>endobj42 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 52 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20509>>/PageWidthList<</0 595.276>>>>>>>>endobj43 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 56 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20547>>/PageWidthList<</0 595.276>>>>>>>>endobj44 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 57 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20585>>/PageWidthList<</0 595.276>>>>>>>>endobj45 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 58 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20623>>/PageWidthList<</0 595.276>>>>>>>>endobj46 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 59 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</C0_0 60 0 R/T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20887>>/PageWidthList<</0 595.276>>>>>>>>endobj47 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 61 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300038005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20661>>/PageWidthList<</0 595.276>>>>>>>>endobj48 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 62 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300038005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20699>>/PageWidthList<</0 595.276>>>>>>>>endobj49 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 63 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300038005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20738>>/PageWidthList<</0 595.276>>>>>>>>endobj50 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 64 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300038005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20777>>/PageWidthList<</0 595.276>>>>>>>>endobj51 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 65 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 20 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300038005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20836>>/PageWidthList<</0 595.276>>>>>>>>endobj65 0 obj<</Length 2178>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 40 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 776.0055 Tm
(PUBLICATION OF FINANCIAL INFORMATION)Tj
/T1_0 1 Tf
0.053 Tw 0 -2.462 Td
(This annual results announcement is published on the websites of the Sto\ck Exchange )Tj
0.034 Tc 0.074 Tw 0 -1.231 Td
[(\(www.hkexnews.hk\))9 ( )0.5 (and)9 ( )0.5 (the)9 ( )0.5 (Company)9 ( )0.5 (\(www.zjec.com.cn\).)9 ( The)9 ( )0.5 (annual)9 ( )0.5 (report)9.1 ( of)9 ( )0.5 (the)9 ( )]TJ
0.041 Tc 0.07 Tw 0 -1.231 Td
[(Company)12.3 ( for)12.3 ( the)12.4 ( twelve)12.4 ( months)12.4 ( ended)12.3 ( December)12.4 ( 3)12.3 (1)12.4 (,)12.4 ( 2)12.4 (0)12.3 (2)12.4 (5)12.4 ( will)12.4 ( be)12.4 ( available)12.4 ( on)12.3 ( the)16 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(above websites in due course.)Tj
24.564 -2.462 Td
(On behalf of the Board)Tj
/T1_1 1 Tf
-2.089 -1.231 Td
(Zhejiang Expressway Co., Ltd.)Tj
3.699 -1.231 Td
(YUAN Yingjie)Tj
/T1_0 1 Tf
-0.025 Tw 13 0 3.4833 13 411.2627 616.0055 Tm
(Chairman)Tj
0 Tw 13 0 0 13 56.6929 584.0055 Tm
(Hangzhou, the PRC, March 31, 2026)Tj
0.047 Tc 0.07 Tw 13 0 3.4833 13 55.3588 552.0055 Tm
[(As)12.3 ( at)12.2 ( the)12.2 ( date)12.3 ( of)12.3 ( this)12.3 ( announcement,)12.2 ( the)12.2 ( Chairman)12.2 ( of)12.2 ( the)12.2 ( Company)12.2 ( is)12.2 ( Mr.)12.2 ( YUAN)22 ( )]TJ
0.049 Tc 0.33 -1.231 Td
[(Yingjie;)12.9 ( the)12.9 ( employee)12.9 ( Director)12.9 ( of)12.9 ( the)12.9 ( Company)12.8 ( is)12.9 ( Ms.)12.9 ( LIU)12.9 ( Yiying;)12.9 ( the)12.9 ( executive)24 ( )]TJ
0.052 Tc 0.33 -1.231 Td
[(Director)12.6 ( of)12.6 ( the)12.6 ( Company)12.6 ( is)12.6 ( Mr.)12.6 ( LI)12.6 ( Wei;)12.6 ( the)12.6 ( other)12.6 ( non-executive)12.6 ( Directors)12.6 ( of)12.5 ( the)27 ( )]TJ
0.029 Tc 0.079 Tw 0.33 -1.231 Td
[(Company)4 ( )0.5 (are:)4 ( )0.5 (Mr.)4 ( )0.5 (ZHAO)4 ( )0.5 (Xilong,)4 ( )0.5 (Mr.)4 ( )0.5 (FAN)4 ( )0.6 (Ye)4 ( )0.5 (and)3.9 ( )0.6 (Mr.)4 ( )0.5 (HUANG)4 ( )0.5 (Jianzhang;)4 ( )0.5 (and)4 ( )0.5 (the)4 ( )]TJ
0.025 Tc 0.05 Tw 0.33 -1.231 Td
(independent non-executive Directors of the Company are: Mr. PEI Ker-Wei,\ Ms. LEE )Tj
0 Tw 0.33 -1.231 Td
(Wai Tsang, Rosa and Mr. YU Mingyuan.)Tj
ET

endstreamendobj54 0 obj<</BaseFont/EJEUDF+TimesLTStd-Roman/Encoding/WinAnsiEncoding/FirstChar 32/FontDescriptor 66 0 R/LastChar 150/Subtype/Type1/ToUnicode 67 0 R/Type/Font/Widths[250 0 0 0 500 833 778 0 333 333 500 564 250 333 250 278 500 500 500 500 500 500 500 500 500 500 278 278 0 0 0 0 0 722 667 667 722 611 556 722 722 333 389 722 611 889 722 722 556 722 667 556 611 722 722 944 722 722 611 0 0 0 0 0 0 444 500 444 500 444 333 500 500 278 278 500 278 778 500 500 500 500 333 389 278 500 500 722 500 500 444 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 333 444 444 350 500]>>endobj55 0 obj<</BaseFont/GUBBFB+TimesLTStd-Bold/Encoding/WinAnsiEncoding/FirstChar 32/FontDescriptor 68 0 R/LastChar 150/Subtype/Type1/Type/Font/Widths[250 0 0 0 0 0 0 0 333 333 0 570 250 333 250 0 500 500 500 500 500 500 500 500 500 500 333 0 0 0 0 0 0 722 667 722 722 667 611 778 778 389 0 778 667 944 722 778 611 0 722 556 667 722 722 1000 722 722 667 0 0 0 0 0 0 500 556 444 556 444 333 500 556 278 333 556 278 833 556 500 556 556 444 389 333 556 500 722 500 500 444 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 333 500 500 0 500]>>endobj68 0 obj<</Ascent 935/CapHeight 662/CharSet(/space/parenleft/parenright/plus/comma/hyphen/period/zero/one/two/three/four/five/six/seven/eight/nine/colon/A/B/C/D/E/F/G/H/I/K/L/M/N/O/P/R/S/T/U/V/W/X/Y/Z/a/b/c/d/e/f/g/h/i/j/k/l/m/n/o/p/q/r/s/t/u/v/w/x/y/z/quoteright/quotedblleft/quotedblright/endash)/Descent -218/Flags 34/FontBBox[-168 -218 1012 935]/FontFamily(Times LT Std)/FontFile3 69 0 R/FontName/GUBBFB+TimesLTStd-Bold/FontStretch/Normal/FontWeight 700/ItalicAngle 0/StemV 140/Type/FontDescriptor/XHeight 461>>endobj69 0 obj<</Filter/FlateDecode/Length 6467/Subtype/Type1C>>stream
H墝T{Tg烮?(D?*:?>V)⒙?* Z1
$罥 ⑷晣祟猔舑碘跹?>浊硉誡O=g铯7g伍??鬓镘{~鱺鼢憚焸 Ir缮)摄s翞枔?}恖+6鶐挒攤喧S軴3D]
_2?[I筯.X猷ｃ?E鴓汽0>j'郂<>n逵槰~荷禕喑隧羈鏶[髄b塎4:S$?礁樝驎扼Y俔藎
傥y噃4	嫩蝙T羖奧b ?囊?嬔灧襩鬥及:詎.娝鵥s瀈&薇R磿犹V洠糄悕,鏶YV餏珘藋櫋(榚帰渄厄y傝0?翿裭7欝f浾9!%;荳$?	A
J"h?"T腄B	翭N倶-慔#?菮2塡D:蓻
昩扁溾g?錳鬻~VU@]U谦[4楁?f?╱痧


}乧Oi炒鐔(喸鵱韪狖嚲
殾匈t玳戶鶩?齄试3?瑆叵3堣BRBB薏$涬陼^鲯2嗺*]~R?覽G罺悸`"4獱烞/0鄐紵圆
Q?椟愠戌i窖Z|&€I$,讥|s╪値=o綎黴乪a讴祄軒?鷿烿?Y墩9<?挧@珵9L巿F夶l|Bqm阸W7Wn渱v夳%掑樌|#雯
?淂uft硏enn\6躘翶猒*z4M
/A覭4?憭憻pKyS_?4銲║?8芵-j犞W莂鴀fig覿漡N	軰?愦昺瀽6r?腀(??執祯sk?g?卥n繦敨煿@譿f飢厢i锑莖0倎+腃*l袆岶軭l啻'	0V)e靏飘?術慂吱
I?跷w煲w籸E儣Qg詸袕K?B燞I芅筒z_忋)?爛t=<菳镠趋3qL枔kqm?龔蚦l8qN崎昻=袮'孨娋}Eja?u|}[O扛邽/.?琎臃畟 #啺璌竧藳)?嫞0懋?r儊騵	魦狠徹N屒A壯iVN+遡8(Nr蟩?G*?hd?`€蘤j唅P躜蠪A鴘P猶?(葍营-攙?p辳9瓝引?嚛/乂妦4哕珁X觛	灌父8儘焆j嬉簿K?_]d塌而蘺
?篾2??}{T僃[y-N铏拎哸蝍q#猖恱捫?eI*;w褸{馹-爿?敢2?怫芀貂軒?町o诌n瀱箇?wK藭?O銔QT供燋篫鯋G酭oш敹驁'鵂Q
尲7伭t?}恬鯿g?c悬鵜.妾0郕?痞N帉粦窭h狖S蒜LH波x;?魑W烗閨烈?缃庮Gos镝C=墉e7椙倡\Q1s,咿愦峞幸唱郸Lq@
騞㈤=?惻90嚂w趐9SL\姥}~马蠚攴6q魹?醸鬫4譬狖`尨曺畴?讱襮保zQ軿n面挌碟數!堙OY?F肘SY婳釒咭NA巬!呛錁I昼U捄ミ:u織鐸狖=3軱-祃m腔\讠}*E縀眼cIZg^?D刓汾糴芍.豆鵻邶JEG皡鍥觡8┙u	跃臵晇浰-嚑鯋柚絻X垈x 壎耼x㈣覜u/+p$決
cys'整慝痮=Ё藶|?sTY謠惙垲紋整e稥Mw溫	猇P吽積sxM諠?涻甐g說W送?泷o痵晡翷i矝~Ld\抏8￠炑ｚ兆,L韱`4P涎?秲sS瞈*K贼#眏}Y瑟某褄糖p屄\:寖u撄檩Q寡昨凃Hw冔44墅i,DFA2秙x參w嬯钰摏2Xo旡遡M汨b??嶊栱{.龡?崐釰瓣憳A嘕G瑸t5芻颇M鬬宧鈧帒9!矕@凡#窖t? ]肖Y嵅@鉪€舩Gp9?g緅_?痁'强u^絳葵輔y唉G,艷桒醝焑枱V8ごBO#?:薻€%覾f鉪黫砕?yq潌?厁?芨r_Uq;4?X陶澜8?飳}W畞d涵<錀y<!@堼趍;q腮	€烫$sS煲漼粈|L∑!R笚璢Y	p彠W?閞蚅B2"0扎縔?
惇
rI閕
8嬅f娄昮?<=眘蓄え%8H扑版4)
媪驞q$Q墇養?眰4肟嗟0麁塩&艫ni戽€A臃
Nb祉柣? <?+`嚛亭饈惦:I??u邾飛y元m欲JBl:	?BPp~X钸Y8j|刬?侇#7\kl脆
iA?7? 
}邼觘$N瘿S柞\俳趍RQM!O菑/I	2eN?_茳`>?遀拉<褨ㄣYUfflG醜
継c嵠綷r?轵3芕鮯稁ha+?UaZ*泃H?顮g蕹9	顝a9ks?毱T葨x↑搫耼N孌翻9?I?罝槎d)榅^糐|陪Vvy睭恗<歚何
h?q藽ぇG鈃b$咉y?e;k廇A┥?uS?飷+?"0偾╖菜墢(?囖攤簠LH唇G溮.~芪t斀J侢?眀?mC%倏?轁_=r擛嘌u?钭#黀籀饉?)迎镧{4槬p8宙燕蹹铁_餼g坻衫髺猶銎辥H噛-<箚ix^哶茄8喙d戂却僪^芹8G璝洜繅在C饽H彍 溓z齉曬
<rzr歖痺]n"
麞~◥&齅c誽宾?%5-S懃裧铧馐L@而摤*Г>诩峪旪憳庖iG?S_K
掬|?!虫孃渥响瀲_蹫€ges?KK?O醦湤zOLYa玴x∠9溩Z跛$(u帎4谐嶼垈=礇'Q彽??侅?}訔Q%迫 *
?氫]蕶矜H€?館蓕w€岇:	洩y?蚡&℅J.觇曹简撝巿r€?g'8<
臷駄UU醪儅_瀮?b銼铊︹觶绉N為NO濅镹皪(罢?捼?餇+氀皏JS墬褐褄§嘝ut%,澥粩雑7#瘍掅l膒6g六_回側緜cyzL[@Vt洄菋圕?€饧匹z2=+蕕u嵽嬇;談讽Sl黋??^邀5宗q7,尃￡⒕B2蒐W椯>0?fTO熥読鞑属柑xf?肨啝l璥OU?U礶曣j屺R9*駸U?}齿鄋~㈨]两釯0?)殛'艺近莰o漱淢驭?擐舸'孮陫#鎎侗.茄$y原/J/IhZ鑱_?<~４E孩"杜bl朜u憱?杚?稯zXh茅V倜?N稵櫅L璍g抙壻W奂q?K輈邡墫墽踰栰H6謄 苸_糃腧K睾J?R笓K?	;q琼壭Dh?cP?$穳?	.奡=忦r闤RQ\＿畵:秬b孖凄Q?肳赞+t晥9毐晉fyO?籏注咚貧?婶)y?SG蕭凴諶?L萱Q徫畸/-<?╛/醯嘾|$o侧廯T肿錠r嶁疢q逝j趤!嫊x]B|/g?~%庀)]辌絑輕蘞€誽v鬟(?馟騊鸹,綵?奎b氋

f/ F?2(漀棴?*?8巭~繊0熼嗫∽P|T光聯lYue敲v(?&腺崣?Y飋#煌楎1鶇{.塞Zo?/KJ墢崘颫n稁O諹鐀n?踱躛豟v
糮舅	洤?獴粙?Z尞鮏盱N呈a鬻漉抢?Z摺鉦義XVu创>瀼費乕S{,d嶪鵑渕up嚈蒠{0.z硘u痨(€?曋dFm3祆/糷駄Y	 肆尡7嗾kC;%廄	这她?殃m聮c?散礛顿ǒ玡?1^鞟Q]g\Bvc迎r?w?*c雜姆旸A! (垔?黍f亝]貐患洵<v鞑,,/
`攪?F)>璾赥艷m斊蝫韆&=滾g螡賡西稃西[8F崋鎮俵戗N?弽x'賵桛摒甬蔺y'雿(惋j薓0铿Y~Lk忹唋胬黻髿蓧司VD}|蚊Z嘎6Bl诲|Gu|b)[歍.??tB蕢P_末?P"2f筍幯G?点G[煂墸秕?囉(FA鍸▋梲?p慊薜 CMα:2Fh覱1傻Q画M阚紁9{ tE恅?楪ZA鲢渄盤h缲Au%轻j?i\铕6b蜚鳗g郓h?a1}?U)秋yyn拚贊S妡D=柕汨`涙R:K据//26傫籹媪|po"g?侻,5ヵ6Iv楴涄櫀跸9櫧em狐芢媘萎`神
鬳?r7v?~m)目~た*?種y栏隨_qV觜崆鯁槄?YB秽嚅`V
&oy:毙廄炸KWc$閥"醅ryRbl?衻蕒簢L,蜟?尧峝=搔i鈉V籢冋x)伞'P朴G媢#韣?玏2t(機伍呑tXkT_O{[oOTG?:2滒嗿<??6洴燴ПR- E袩!?\a<i:菫抵72嬖?嵘麾嗎x尣攢W
@?垙忏#i鶗黿н僢岹'H曺蓪.J/$?欤Fa瓊稷諩F堭yt鑼〖桳e仁?脤S潰e毅d9揋:僵&[纋s鮗诃跖輌\f鑪砺;焵HS叮Y!<詇狆憩" 肺?抴潣燌[?5饅槯僉湥憗bD=	鋨e湳抦漳$辏蜳銴﹣[豋崥6c犎pb^t.杯缪裝=9踿屎{喒?bd8?沆錢Z湃梋?u5
??鐼rpwf丵梽N抃厹儫侕a
K燶殎覞[瓫I厽????l似2XC*)l嘥?哌bJ服阃0嚺塑佰w+噍G奤/眀-F?伹醘?,%帮抅肓儂@d`4|O譼峔篯倽6顸Mc{w訃U鬻X劉垌銼摀	謠宱珜NI~饙x尘??f:晌ofC?6	KZ澸a)馞傼祜tnj`袨笡圉
辻豨巿`!`簨嶞揜韵?h嫙?騢c/邐玢箈郏?*/]P`鶰??2b舚<屄抲w约隒刯桤閩EYg觯劢柍,5諾鄘U>Xs疗k喖紩>?y鮹糭峑|^摖DC寴踱钖_聕m沰cc`f『	x鱥?"jBg4dナ┒?柮蛘旷9カ欂と 柡€澱瘹rqxS４、船颤嫔A鶕|赻#蜭榖v['Ku嶖呿6=k+6Mg窲?/鮖P簻簩縀I︹0G>?辌V腤J挻i獡騝珉0驍P瀜]p銤?м调蠮摱畫乮?w旞鴆rc_5籂/藠`菮痘}汭_1?猐dg拕@拚,?`叏匱眃琍KZ&訝学被胺'凧r琝Q1cm0包.RC	W昉氄沧純躮RX+歼0XS葖蕂坪?r缱仮]筞j76淝0裣Nm#?鮚8笝偿蠽H宖o蕮J睯?⒓? ``fl|a嵏#^峫y%z?xL蟯绁 I夢慩グZXR踇SX_糚F葤泋?A5[垿黏^
)<漎?施愨N=	畊V臼^紣菫
挊庅睊赵?挬槦絥摗,4,繟钿駇3勬龚a徱L裓#?v生俴撌5.U)ラ筁z?盄$舐G?馜税葶!峥柚鋏姒盺鞎鋁炊
唎2?骃蝴軸$夲x?yV^U墷辅┯?}rf?匼j厖?| ,?磹悙w?,GD%唳濄,l劦t淭瘖坫熶←W蒓J!]X&盡#で?6溇郹	gN{盖)瑑澤N?Ay俖{
盭鈲]櫪娼符:[.r.幫仕蠐g?狥屭雺袋_鹍癵覊屛揽紽0N"櫺霚續州0魰怽肪I硐;洖畛硓管	Lj
石?=綌(u|髜Z铁]5濏麄IJkg汏籰犄鈔庯?╅釘[郳)噑;譿y"?礒
鷒 
endstreamendobj66 0 obj<</Ascent 898/CapHeight 662/CharSet(/space/dollar/percent/ampersand/parenleft/parenright/asterisk/plus/comma/hyphen/period/slash/zero/one/two/three/four/five/six/seven/eight/nine/colon/semicolon/A/B/C/D/E/F/G/H/I/J/K/L/M/N/O/P/Q/R/S/T/U/V/W/X/Y/Z/a/b/c/d/e/f/g/h/i/j/k/l/m/n/o/p/q/r/s/t/u/v/\w/x/y/z/quoteright/quotedblleft/quotedblright/bullet/endash)/Descent -218/Flags 34/FontBBox[-168 -218 1000 898]/FontFamily(Times LT Std)/FontFile3 70 0 R/FontName/EJEUDF+TimesLTStd-Roman/FontStretch/Normal/FontWeight 400/ItalicAngle 0/StemV 84/Type/FontDescriptor/XHeight 450>>endobj67 0 obj<</Filter/FlateDecode/Length 576>>stream
H塡訽k釦瘅|妝lJ4s餄俙腩埳b|疔餃槁
m徠酎8惿7豁&/烃N钬蹴瘲圬Dw埀枀k籪z紱7鐉闰t簋~濃y/YU裹G簒澠粄Z窏C|悟oc钱?恭_淉乘鞣a媳熫颅V畭囚従悦]>喏瞜吁n嚎沌}埉樳/塱.mu呛?努Zぷ蔝榈蔮唼wq坩攸?疱?齀YY贅鶗筪.懽蘫??y思E~g~GN嗍鱼狁K?r羂 {f廘硣儆靉?{榼`若{鼾~O繃哂镝`````d6pC羻
7l(躊啊rC艈J柯+麶柯+麶柯+麶柯+麶柯+^C仔k?{狡^C仔k?{狡^C祖^頵赝笡a7鉵嗇尰v3頵?p穩
兀€?
兀€?
兀€緿W盭怏?胈
3喂€?~铉圐馮惚O?S氎8︺d>骆s'H浊蟂n.輩熿Q?O
endstreamendobj70 0 obj<</Filter/FlateDecode/Length 7682/Subtype/Type1C>>stream
H塴U	PW頰猕?B弙稩蘮T.u嚼垹 `罌慽p?A?聙鄍(\jP9$?*专 ^珊x褪汓\禷k弆m姜锝臌稃珵撠a"懭% 8`褴缐Zg穐苈:祣捌餔?崆8捜亵?蜲聋廁2f躋f7ㄠ#
?7毚qk,繘4堄噋 昔?C8敓9c呹dO仙瑹瓢歝??溛閏&Ａざpw?>??翁揅讲Z3玣-&祮萤M隭C,⒄,?(?瓲i?琕蟌謕靊鱬w6TP諿X礮肍鼪?6V%u陯席?溕v cb桩7im孍k袥%甒敫訁聊j咁y綑泾S灖[=咻#0<b0樖j竂	肎c籦s\1-0虃aI&??木矸[m鞯輢駊q涾嵞M?Y#I撥理??﨔&=.頄idW碜?麳U囘:F+隽q层莣莽瘣K鍛螂#|G4?腰蜣(廞婓娍倌K' '9?鲝V怇慑S梜]S\uT玶懖t宒宖,66弙?簫~虳?鸾D~zAl擆Y}↓YR菴WH炻幞辫	傾伂_簉_ !栻弯	FrVn遅*N梄;哒€磌y	駁~6烢俋丢!`昨濚褏堲(抗早O#{T+#z?氝琯6!g閃昗弹昐k炇??矒嗧骲Fgb渤GA钿袵/Qw揿-Q/I舳j.疀K崯礽m-鐛蛾鯄餸M镼XS~负8Iq
樖o<€
bOw逥^F"籓愑咐陏/axL裣s
鈽鋲旮ビ3u來蜃?匏ポj鴳訦u隫s訒媼⒈?99L@c骙菤3@>弚雹?k隙b:￥p[儾オよ摏嵽~懊洡o	<'5撖~撢lNNnevn菿龏Bo溧-躟骀嫒火?U4靖^梟?j騴}Su?3紪S瑜揑蚆??Q|⒋>?摚＃靾氚o9闍乳9烢N骭V傣郆歔q瀬烶h艋刱0r	Zw潢旓O???秎趮胩I朒穑?Φ踗Qq芝闎u~{⒐?熭;{蓁茳鵍€?p┱玧{热忘纋I
樧@D跨汝=l縆=VYLk7E覦YL葜妭99ytN~^N 3mC蚴 礍顩?jz"啨$蝠餈?呰c汜
WK]処倮饢倐W廁浚I僥O那Q	/^晰R@X贏s梼瞑举掛"L?T0q禵(-噯念
,☉`』班f嬭ㄏi繲?弲薲 櫤+扁袔濙氰?涰bM幷e鳍概駭i示蜮C鑚C裬狜V悈7打谰旅啭葡喝わ緌U軫U檞m塎L[丰叉师J??联砳鑅鍥gQ沞凝嫇rZV*F闪[烟^+N湚畾u,剴CLY"跡愛.哱h ?蓉F0?儰r6
蘹屍慏侬眸_/堣v緇5纕q?C`{獿桅傌+Qq腄4孞%薺髡3D?	:澤磶&⒐氫2Z頢愗?J凅b8!x9_?~膐I?}
厌WP鬔y}4	N?濷6?'鋽i?苁厊pb*$(D崚迗,!峘佱酄?氯m%}秌卶qp?%R撙組?K螮螨倭?[〔茤惾?戼舊i鬼
⊿=O募
茠泈?Y盝?構烚鳔烑H糿yNq[?觇睱煎`鮾%8攞D鵉{MugP R醄xJ&O┿{?鄋譇7xL尬-犀踐叨缎螪鰍顾+斏?騣鎍莋?窵玌飃堫鯯暓Z〒茻9r<C條毛J?;刖岒餧姗g鋫邹m?ITx瑥膢<$撱y?)嘿@騸辭eh~壃RH儣x邗篋肋C=	Q医籱惑樸嫌
餗﹊	J腎m怒Yy;晙m儉録*呬~崃鬮沲泘k?sL击帔<鮄t3卺断回^濺臟蝹礣T骯}?蔐緢`磰B眔'至攞@蛜0.<q??鳡(??輱
z?諠琙Q儉?犏 騊?j$伏G@? (oh
菴礨崑#罣4褐十粼欇?)范鐪摭琨铐p^?爢サv彥~疅<㎝A鎪沇潡'T=肖?匀C龏r賉)槯?4蛸囊d闘cY]"h躟i5彠H5f鸝囶?;⌒玝戕嵬-俑y暻Aヽ噚=T?幻X瀨溲秅居淕顟灚徽駩X}?.
.maw缴B譭[v替亓[?诈喅黦鯡拷术?8{I汕e踆E鼵伧Xy!V?~蕘鏣爌:z:峷纔?k殇嶛?2愆[濁楿趖轂D>N砓0F黊5t?叵? (売?b\菃蔓餿X彲舎Uh;⒀?}パao€g瘍鑾彪^Z=鈆c镣瞢躚娃鄑m鮷~<m暶呶j/+琽楃靣(Gt4/c囂亽*$+!薻h攞琼Ⅰs嫀b煀!;臘i?}|啙$F逞袘烾纯PFSPL稯
勉筸踴0朂膿€乑懊Zz捸mP?J@ 珍
踈jvR龢Vん?緦?蜯O诌g??觉呯┵e倯|x"瘯犱`..毻c#饋闝Cjb摾茷?钗!囷&-_Ｍn徨"踒cQ9焀擸忳=耄XJ钄煹)H}J硩俋JC?RcW4邯q!钩繈1h铹0V輧鲗檪秾娯必迁
吖O苭b绁c瑽{蛆?5岡羢|宛龆?YI煕d靈?葱p?g埩Y犂}V鸯	L蒓芲_惼硟?_R嘈襟砈=?炷檬`]n9s[I?&(璲苅鸇?蘔E?!?稞5愘.@&吁w2
<潾`w沓71?N?憨繮羶濉x譩N	敟杅飯LOju牲ke^1I+觴Qna?槍闻7Tu糔ML廌g&jw公q塣煕]妹?/芣穥!銚但啁L襙熄N蘷s&粰=e熊嫘袋零辈y=糡
-}%袋c.嚐0蹢?€傚搟?鄡3->,T焉皾姤#S耂摽茉琚芇tDO襜叱k?PF<Q?珞Elb;躇顒I褚?ヤG$zD?[儤卛眓助廐倘{贄?(柔%<"2?Eた堓{?厕> 檓%0&e?tI捶1:飭5丨氒kYdQ椚荠昖>!鏴CBY鋍R筀誣c?Mdn$鴓柇L蓄刪毣嗽_臙	9?ZA梍厂C}>虃?妄证攇I炛K鷿\豔;Q?<lf^莔?筷踻+w3嵛謺\遴S鍼畔悌ΠGwp眖乂5煑?}h電0
财燉砘Z戸韣g	?摕J??9B癥み毣f,ⅱht騕檰S詓禉m淋絙mR莴漴橧i~nL銦,F寳n辋磰dRm4簍?KS鶎?0Z嶴E4涫??€v?翭frev塘AknV玺?峺<?抩V'{dM??#冕}=ca錢
坱[I犏v敛%鎴硥?	猅atCvO?
沟▊蒦@+徇	*2?a噉腟鐠?美漙筽晸愃售&(=P臐揬Q)宧恫含桇/Kz剔.!嵕?_鏲m鎎C孾皸1+}禂Q瓇q┈PZ屹~僣媍?蟘)鬛5鎔謜倠'???崲
桱0?8K5描W勘%?餖R卖绨擕説*~鶳覠r
庒扩橢櫹珕岽鋀伬CG傊
-?衺毉燿鯴A蛽%ctY靉9憔莏?槑?盅靘懝函8闀5?誎実vⅣ霗n#$酔
嫘靋K皘OUw0鱨;8ィ3釣 L歠nW糨儎y-筓k杞樔█??^嬼G桞
0yNI罢针礼と切JU?y|
5L蛤?
6泯r樎?]/.蛅/錵h玝$鶡婒
3AX棚媸?昜朜郝?0猇嫞*刯:?薊:建jrU朻旡?濚N/壅誹吽?囍R?澜畕i碖崥猽U0(/@^? O10?啓丄D?<濉?>挊詧V旭Qbu5m墢}?kf?Y朦<g哔{燂|;i叆幌"K碀f孷/︶??2駦rg祝礩咽d68~G塌ow崈o,2v?c?tGe?蝣%贔h,兴*━舒K逄:帓噿睓攠2?uG羱Z*擐蝐瘼Yk%]H礤閂寓yFPWg舢€沦~G^G勊-w唖E鋑0	??Kh蜣:蛎iiN\帞趴荗	?憿;．婎熳橦.潴赲赲漲^(?RU銾鑶殥产睠-C桾嗻V桽媈喈x?P4逗?:8疋+皗⑶狼衇i,祔+3洯g禭萪2厺叡碙瀿蟗f鱙y=Om[Nh嚧iD?玧沼V;鈺x粉櫴]鵑2H7]DQ+m4u???俏⑹荸t靉蜑R审F浏O1剰郵需H碽髰E门N?kDwZ%饶曦糗屲L?/?㈧鉸洪ざ遰?:浵X9郵巟r/HZb戵+F碦篍撨僼霼[q'帘x崃)玞翪k?xR抏洷兯膫юJ南郑?j_?
0?烏瀩%R煛d闯}渦	TRp;a啧dX<I>埃
2b?;V櫶D臎l?>
K铣哛贆?)痠n胬]拯/a%?翞沂L坪Z顦婄i萤甓杹LI^?煬>磮姼82苡峙z棼
珯J搗皬惩j鎪
.鼨?3｜?ｃ8uZu+髆缏接H蠆nM耱饄貁VM睫
屋o{R珕盝$LR:?mI櫐?苢洇Q痴苫致
8媪x?鍱OM]铭愿R???盇缭4钟認S\-[y$攺d萾bc薝?OL~y	濉閌ヰ郐9邛崗 ?﹣MS?釤頲积Fa	?zpt`0f観NKq#濂以粢?魡隇9o┾?:凄_/;pR簅wu5V产??蟄9憢岮|+燦珦cp悩塭郆E$卪Z舩厪38?嘗稀逄G鴀琣醗榦*沭,Tv7?魇紓巖衤刈d踅>?l6?;?[SS_衍痉q'鲆鄰wr?黢u駔y秝
珋
齓W仞琢兮鳮?=!吪'!篬遜遲#踀港?閟枌;窉j┊5uYu歡6氛冴P趏觀??{L/膦郔]锂飢T夐刣者7璌=V绎7铛(-UW*錒<兀ri憔4羡r%憮糁畆?錿BCF暅v轔鈴餄瀭担 jJ宽琯%gb狣*kzzktlIИ~u>蹣U腺捈0叽?f?[i<电X枮|軦ě鎍籱?{⑥4b懃骸s?z[葙?+ww.蒚,?齗蛐罐n緳麾p Z/S?d隖@韼ピЮы1齏充m瞲衿bU誛翠9?驐赛錘
かㄐ楯c?h滭ok
+欬\鴳b:[觋殯掚恽1?羔鴙a键翺翢玃蔝砪檜5寫II
爖酷$蠀?騉馩鮋#玉o?搑葛 効挻鹒耄飦E押湟^級dQ裹Xv.璗浒2捏饷吼
尊r餾ln?0M歛喦a楱?'3;'S懳8浠+2V璼V潫?=鹜c:Ν`篕褺筜)跐ｖ蔰骡;硊韠惿嫹蒏/勇碂廁-鵫"跁%c傕J旺T?2塌脇舌擶滫@!┯Ei?t }疟—po恰虸7懩｝谪←4鑁{];yj反
嶥煠鋺	<J詨斩詰軳崩蚲郄R?3秓3硔L?7巖u"蒬圏X?]i贈靜欕M噴	3x?g'?_??Ⅳ?赒?SMs?覈憑?虏#?bq?@C*;掀邇Q!侅?富感9糕鉶岵殑UMV蚐`槻Fa[a;蘈-
栞?皈鍙墊U旺P鴿$豶刃O/恗镡^8[W踇>I&潜?鮒眗PU#彺隳D1mM橗p7翙(稉U隒x灯4u哸獯汖t乻瞫b2\?*藴fsc楍C丶L駟ㄥ+桼
诋卻赟Zz?擪[n奨潹7u蝍3鉲f蘴和-1鶐鵏茏%7矬|遻y濿灭6l7#j賒TB非軎FZ雼QO?羼讹F) w?誴胘m橹澭P;6螲KZj醎?唽鰏i?缚跅O?H筚鱣fOF媸v4Tgq垬迯矧再'H釴紏??-eV輛m博疄g┨龔0(玮晒;弰烀駅SOi7^Q軍3穊?:n
?怡6朂'掟|柙?M虅=嘑ò揩w付GUⅹ娃绅鲬糰腵A韼z睚C啝C#m
k?琥€j缎G魜豚G%醝
obzi釟M弃蝾菰颀9[>箈囹!嗚?艈旰韧;u斫M碞F斃U>滆w焚[?a ?M]絪蜣簟亗CD`耈霡宵豈鲺宂<uZDSf鳹Z4?媱脜刢椪a|芍旍O?7憸嵆YpR鲻跟?g啠a貉?觌j狮|毳0?.7L?Q緿7b嘤 >敧?髕>4J偳0熷須b?荚d0~E专+*鉫?n胑x怏H枥楟\5?a	6胖?﨤喔覠&wjⅱK诘駻苄JG鈷前瞊K蠿M虇玊+鑤嗥8梇l'{儹a-聕锒t浥娧烨oJ抻akqSNwㄟ藔p3|少q4npA>=€勪橱悹綟<$濲媷浕[&砕_I瘑€R錄娃Nr胺u貋爒厨x匙tb玚ajH#銨鶎舺yWcw!犩曔apRm鷥吏詂?搵r佚c犃_?嚙菣&鈎o€i?襛捍Y峀??Т7?堡曝R_qE"^/▍?騍墽w??
i"蘢駙%d褠z?鱙Z;竜扉祏"n?>,碵莝噊\WV岳4ぃk'蟲?mn?xCn!鳋?覄K{!(1(帡僢eCB嘇Kjz=瑒8h?З肎鰪!
來k纝|_s{%怉K|b%K陫!綕&詬鍧j獔/13泥慞俟鵖y濬桥;"R{Y)kD"#?骤^$籍OH捴JYg侵胩錕)H薂P世D玎B琒6榇潱-僝?惌^屗颕A爅`踃X壩
煤渓r鞹c╳X尀8?bj禭8谝耏x蔰r富:N_;蓘棊晝⒊塚塊
$?.7亅J<
BI
?珞Τ>嗡璎榧闄?"HHo麲韠i?怡遐蝾娟蔙vO瘿∠刅Z胺
6书l6ju籸?垃}閄y?賠?詘@昒D譻V芧暩餖G巰
endstreamendobj53 0 obj<</AIS false/BM/Normal/CA 1.0/OP true/OPM 1/SA true/SMask/None/Type/ExtGState/ca 1.0/op true>>endobj64 0 obj<</Length 4723>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 39 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 776.409 Tm
(IMPORTANT EVENTS OCCURRED SINCE THE END OF THE PERIOD)Tj
/T1_0 1 Tf
0.038 Tc 0.07 Tw 0 -2.462 Td
[(There)12.9 ( have)12.9 ( been)12.9 ( no)12.8 ( other)12.9 ( important)12.8 ( events)12.9 ( affecting)12.9 ( the)12.9 ( Group)12.8 ( since)12.8 ( the)12.8 ( end)12.8 ( of)12.9 ( the)13 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(Period.)Tj
/T1_1 1 Tf
0 Tw 0 -2.462 Td
(EXPECTED DATE OF PAYMENT OF THE PROPOSED DIVIDEND)Tj
/T1_0 1 Tf
0.047 Tw 0 -2.462 Td
[(Subject to )0.5 (the approval by )0.5 (the shareholders )0.5 (of the Company )0.5 (at the ASM to be )0.5 (held on )]TJ
0.044 Tw 0 -1.231 Td
(May 6, 2026, the Company expects to pay a dividend of Rmb39.5 cents per \share \(the )Tj
0 Tc 0 Tw 0 -1.231 Td
(\223)Tj
/T1_1 1 Tf
0.025 Tc 0.469 0 Td
(Proposed Dividend)Tj
/T1_0 1 Tf
(\224\) no later than July 3, 2026 \(inclusive\).)Tj
/T1_1 1 Tf
0.034 Tw -0.469 -2.462 Td
(DATE OF CLOSURE OF REGISTER, LAST TRANSFER DATE AND RECORD )Tj
-0.025 Tw 0 -1.231 Td
(DATE)Tj
/T1_0 1 Tf
0.015 Tw 0 -2.462 Td
(The ASM of the Company is expected to be held on May 6, 2026. Notice of \convening )Tj
0.016 Tw 0 -1.231 Td
(the ASM will be published on the websites of the Company and the Stock E\xchange in )Tj
0.077 Tw 0 -1.231 Td
(due course in accordance with the requirements of the Listing Rules. For\ the purpose )Tj
0.032 Tc 0.076 Tw 0 -1.231 Td
[(o)0.5 (f)7 ( )0.5 (t)0.5 (he)7 ( )0.5 (A)0.5 (S)0.5 (M)7 ( )0.5 (a)0.5 (n)0.5 (d)7 ( )0.5 (in)7 ( )0.5 (o)0.5 (r)0.5 (d)0.5 (e)0.5 (r)7 ( )0.5 (to)7 ( )0.5 (d)0.5 (e)0.5 (t)0.5 (e)0.5 (rm)0.5 (i)0.5 (n)0.5 (e)7 ( )0.5 (th)0.5 (e)7 ( )0.5 (s)0.5 (h)0.5 (a)0.5 (r)0.5 (eh)0.5 (o)0.5 (l)0.5 (de)0.5 (r)0.5 (s)7 ( )0.5 (o)0.5 (f)7 ( )0.5 (t)0.5 (he)7.1 ( )0.5 (Co)0.5 (m)0.5 (p)0.5 (an)0.5 (y)7 ( )0.5 (w)0.5 (h)0.5 (o)7 ( )0.5 (qu)0.5 (a)0.5 (l)0.5 (i)0.5 (fy)7 ( )]TJ
0.025 Tc 0.04 Tw 0 -1.231 Td
(for the Proposed Dividend, the Company will close the register of H shar\es during the )Tj
0.038 Tc -0.038 Tw 0 -1.231 Td
(period)Tj
0.07 Tw 2.771 0 Td
[( from)12.4 ( April)12.4 ( 3)12.4 (0)12.3 (,)12.4 ( 2)12.4 (0)12.3 (2)12.3 (6)12.4 ( to)12.4 ( May)12.4 ( 6)12.4 (,)12.3 ( 2)12.3 (0)12.4 (2)12.3 (6)12.4 ( \(both)12.4 ( days)12.3 ( inclusive\))12.4 ( and)12.3 ( from)12.3 ( May)12.4 ( 1)12.4 (2)12.3 (,)13 ( )]TJ
0.025 Tc 0.033 Tw -2.771 -1.231 Td
(2026 to May 17, 2026 \(both days inclusive\), during which no transfer o\f H shares will )Tj
0 Tw 0 -1.231 Td
(be registered.)Tj
0.036 Tc 0.072 Tw 0 -2.462 Td
[(Shareholders)11.1 ( )0.5 (of)11 ( )0.5 (H)11 ( )0.5 (shares)11 ( )0.5 (who)11 ( )0.5 (wish)11 ( )0.5 (to)11 ( )0.5 (attend)11 ( )0.5 (the)11 ( )0.5 (ASM)11 ( )0.5 (and)11 ( )0.5 (qualify)11 ( )0.6 (for)11 ( )0.5 (the)11 ( )0.5 (Proposed)11 ( )]TJ
0.061 Tc 0.07 Tw 0 -1.231 Td
[(Dividend)12.5 ( shall)12.5 ( deliver)12.5 ( all)12.4 ( transfer)12.5 ( instruments)12.5 ( and)12.5 ( relevant)12.4 ( share)12.4 ( certificates)12.5 ( to)36 ( )]TJ
0.025 Tc 0.01 Tw 0 -1.231 Td
[(Computershare Hong Kong Investor Services )0.5 (Limited at Room 1712\2261716, )0.5 (17th Floor, )]TJ
0.014 Tw 0 -1.231 Td
(Hopewell Centre, 183 Queen\222s Road East, Wanchai, Hong Kong at or befo\re 4:30 p.m. )Tj
0 Tw 0 -1.231 Td
(on April 29, 2026 and May 11, 2026, respectively.)Tj
0.017 Tw 0 -2.462 Td
(For the purpose of the ASM and to qualify for the Proposed Dividend, the\ record dates )Tj
0 Tw 0 -1.231 Td
(are fixed on May 6, 2026 and May 17, 2026, respectively.)Tj
/T1_1 1 Tf
0.081 Tc 0.07 Tw 0 -2.462 Td
[(PURCHASE,)12.4 ( SALE)12.4 ( AND)12.4 ( REDEMPTION)12.3 ( OF)12.3 ( THE)12.3 ( COMPANY\222S)12.3 ( LISTED)56 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(SECURITIES)Tj
/T1_0 1 Tf
0.023 Tc 0 Tw 0 -2.462 Td
[(Neither the Company nor any of its subsidiaries purchased, sold, redeeme\d or cancelled)-2 ( )]TJ
0.025 Tc 0 -1.231 Td
(any of the Company\222s listed securities during the Period.)Tj
/T1_1 1 Tf
0 -2.462 Td
(COMPLIANCE WITH LISTING RULES APPENDIX C1)Tj
/T1_0 1 Tf
0.03 Tc 0.078 Tw 0 -2.462 Td
[(During)5 ( )0.5 (the)5.1 ( )0.5 (Period,)5 ( )0.5 (the)5 ( )0.5 (Company)5 ( )0.5 (complied)5 ( )0.5 (with)5 ( )0.5 (the)5 ( )0.5 (code)5 ( )0.5 (provisions)5 ( )0.5 (in)5 ( )0.5 (the)5 ( )0.5 (Corporate)5 ( )]TJ
0.053 Tc 0.07 Tw 0 -1.231 Td
[(Governance)12 ( Code)12 ( \(the)12.1 ( \223)]TJ
/T1_1 1 Tf
-0.053 Tw (Code)Tj
/T1_0 1 Tf
0.07 Tw [(\224\))12.1 ( set)12.1 ( out)12.1 ( in)12.1 ( Appendix)12 ( C)12.1 (1)12.1 ( to)12.1 ( the)12.1 ( Listing)12.1 ( Rules,)12.1 ( and)28 ( )]TJ
0.025 Tc 0.002 Tw 0 -1.231 Td
(adopted the recommended best practices in the Code as and when applicabl\e during the )Tj
-0.025 Tw 0 -1.231 Td
(Period.)Tj
ET

endstreamendobj63 0 obj<</Length 8979>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 38 \226)Tj
/T1_1 1 Tf
0.057 Tc 0.069 Tw 13 0 0 13 85.0394 776.3179 Tm
[(A)0.5 (cc)0.5 (e)0.5 (l)0.5 (er)0.5 (a)0.5 (te)13 ( cu)0.5 (l)0.5 (ti)0.5 (v)0.5 (at)0.5 (io)0.5 (n)13 ( )-0.6 (o)0.5 (f)12.9 ( n)0.5 (ew)13 ( gr)0.5 (o)0.5 (wt)0.5 (h)13 ( )-0.6 (d)0.5 (r)0.5 (iv)0.5 (e)0.5 (rs)0.5 (.)13 ( )]TJ
/T1_0 1 Tf
22.414 0 Td
[(T)0.5 (he)13 ( Gr)0.5 (o)0.5 (up)13 ( )-0.6 (p)0.5 (l)0.5 (an)0.5 (s)13 ( )-0.6 (t)0.5 (o)12.9 ( e)0.5 (xp)0.5 (a)0.5 (nd)32 ( )]TJ
0.033 Tc 0.075 Tw -22.414 -1.115 Td
[(road-related)8.1 ( )0.5 (industries)8.1 ( )0.5 (by)8 ( )0.5 (leveraging)8 ( )0.5 (road)8 ( )0.5 (domain)8 ( )0.5 (resources:)8 ( )0.5 (explore)8 ( )0.5 (integrated)8 ( )]TJ
0.039 Tc 0.07 Tw 0 -1.115 Td
[(development)12.5 ( of)12.5 ( \223low-altitude)12.5 ( +)12.5 ( expressway\224;)12.5 ( continue)12.6 ( building)12.4 ( a)12.5 ( standardized)14 ( )]TJ
0.025 Tc 0.052 Tw 0 -1.115 Td
(technological foundation for intelligent expressways and enhance externa\l output )Tj
0.029 Tc 0.079 Tw 0 -1.115 Td
[(capabilities;)4 ( )0.5 (advance)4 ( )0.5 (distributed)4 ( )0.5 (photovoltaic)4 ( )0.5 (projects)4 ( )0.5 (along)4 ( )0.5 (expressways,)4 ( )0.5 (green)4 ( )]TJ
0.025 Tc 0.068 Tw 0 -1.115 Td
(and low-carbon toll stations, and development of a new energy heavy-duty\ truck )Tj
0.038 Tc 0.07 Tw 0 -1.115 Td
[(recharging)12.1 ( network,)12.2 ( and)12.1 ( establish)12.2 ( an)12.2 ( energy)12.2 ( management)12.1 ( platform)12.1 ( to)12.1 ( integrate)13 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.115 Td
[(photovoltaic,)7 ( )0.5 (storage,)7 ( )0.5 (and)7 ( )0.5 (charging)6.9 ( )0.5 (resources,)7 ( )0.5 (strengthening)7 ( )0.5 (green)6.9 ( )0.6 (development)7 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.115 Td
(momentum.)Tj
/T1_1 1 Tf
0.032 Tc 0.076 Tw 0 -2.231 Td
[(Deepen)7 ( )0.5 (technological)7 ( )0.5 (empowerment)7 ( )0.5 (for)7 ( )0.5 (efficiency)7 ( )0.5 (enhancement.)7 ( )]TJ
/T1_0 1 Tf
-0.032 Tw 30.01 0 Td
[(Proactively)7 ( )]TJ
0.047 Tc 0.07 Tw -30.01 -1.115 Td
[(seizing)12.5 ( the)12.4 ( opportunities)12.4 ( in)12.5 ( autonomous)12.5 ( driving)12.5 ( development,)12.4 ( the)12.4 ( Group)12.4 ( will)22 ( )]TJ
0.045 Tc 0 -1.115 Td
[(accelerate)12.1 ( research)12 ( on)12 ( \223unmanned)12.1 ( truck)12.1 ( formation\224)12.1 ( to)12.1 ( enhance)12.1 ( the)12.1 ( utilization)20 ( )]TJ
0.05 Tc 0 -1.115 Td
[(of)13 ( i)0.5 (dle)13 ( ro)0.5 (ad)13 ( ne)0.5 (two)0.5 (rk)13 ( re)0.5 (so)0.5 (urc)0.5 (es)13 ( an)0.5 (d)12.9 ( o)0.5 (ve)0.5 (ra)0.5 (ll)12.9 ( )0.5 (tra)0.5 (ff)0.5 (ic)12.9 ( )0.5 (ef)0.5 (fic)0.5 (ie)0.5 (ncy)0.5 (.)12.9 ( )0.5 (Mea)0.5 (nw)0.5 (hil)0.5 (e,)12.9 ( )0.5 (th)0.5 (e)25 ( )]TJ
0.025 Tc 0.033 Tw 0 -1.115 Td
[(Group intends to )0.5 (strengthen )0.5 (R&D in key technologies )0.5 (such )0.5 (as disaster prevention )]TJ
0.042 Tc 0.07 Tw 0 -1.115 Td
[(and)12.7 ( mitigation,)12.7 ( intelligent)12.7 ( detection,)12.7 ( as)12.8 ( well)12.7 ( as)12.7 ( routine)12.7 ( monitoring)12.7 ( and)12.7 ( hazard)17 ( )]TJ
0.081 Tc 0 -1.115 Td
[(management)12.7 ( for)12.7 ( critical)12.6 ( structures)12.7 ( like)12.7 ( slopes)12.7 ( and)12.7 ( tunnels,)12.7 ( continuously)55.9 ( )]TJ
0.053 Tc 0 -1.115 Td
[(improving)12.6 ( scientific)12.7 ( maintenance)12.7 ( standards)12.7 ( and)12.7 ( safety)12.7 ( resilience)12.7 ( of)12.6 ( the)12.7 ( road)27.9 ( )]TJ
0.031 Tc 0.077 Tw 0 -1.115 Td
[(network.)6 ( )0.5 (The)6 ( )0.5 (Group)6 ( )0.5 (will)6 ( )0.5 (persist)6 ( )0.5 (in)6 ( )0.5 (implementing)6 ( )0.5 (digital)6 ( )0.5 (and)6 ( )0.5 (intelligent)6 ( )0.5 (internal)6 ( )]TJ
0.025 Tc 0.056 Tw 0 -1.115 Td
[(control )0.5 (management, )]TJ
9.304 0 Td
[(and )0.5 (build)]TJ
[( )0.5 (an )0.5 (integrated )0.5 (intelligent )0.5 (governance )0.6 (platform )0.6 (and )]TJ
0.081 Tw -9.304 -1.115 Td
[(an )0.5 (enterprise AI )0.5 (service hub )0.5 (to consistently enhance management efficiency and )]TJ
0 Tw 0 -1.115 Td
(solidify the foundation for cost reduction and efficiency improvement.)Tj
/T1_1 1 Tf
0.063 Tc 0.07 Tw 0 -2.231 Td
[(Continuously)12.1 ( strengthen)12.1 ( market)12.1 ( capitalization)12.1 ( management.)12.1 ( )]TJ
/T1_0 1 Tf
[(Guided)12.1 ( by)38 ( )]TJ
0.061 Tc 0 -1.115 Td
[(the)12.5 ( core)12.4 ( principles)12.5 ( of)12.4 ( value)12.5 ( creation)12.4 ( and)12.4 ( shareholder)12.4 ( returns,)12.4 ( the)12.4 ( Company)36 ( )]TJ
0.043 Tc 0 -1.115 Td
[(will)12.3 ( persistently)12.3 ( enhance)12.3 ( its)12.2 ( intrinsic)12.2 ( value)12.3 ( by)12.3 ( focusing)12.3 ( on)12.3 ( strengthening)12.3 ( core)18 ( )]TJ
0.025 Tc 0.009 Tw 0 -1.115 Td
(business, expanding related industries, deepening innovation-driven deve\lopment, )Tj
0.062 Tw 0 -1.115 Td
(and fulfilling social responsibilities. Concurrently, the Company will c\ontinue to )Tj
0.028 Tc 0.08 Tw 0 -1.115 Td
[(refine)3 ( )0.5 (corporate)3 ( )0.5 (governance,)3 ( )0.5 (steadily)3 ( )0.5 (improve)3 ( )0.5 (quality)3 ( )0.5 (of)3 ( )0.5 (information)3 ( )0.5 (disclosure,)2.9 ( )]TJ
0.061 Tc 0.07 Tw 0 -1.115 Td
[(and)12.3 ( actively)12.4 ( engage)12.4 ( in)12.3 ( investor)12.3 ( relations)12.3 ( management)12.3 ( to)12.4 ( strengthen)12.4 ( market)35.9 ( )]TJ
0.048 Tc 0 -1.115 Td
[(communication)12.1 ( and)12.2 ( value)12.1 ( transmission.)12.1 ( Furthermore,)12.1 ( the)12.1 ( Company)12.1 ( will)12.1 ( fully)23 ( )]TJ
0.025 Tc 0 Tw 0 -1.115 Td
(advance capital operation for A-share listing to facilitate valuation re\covery.)Tj
/T1_1 1 Tf
0.362 Tw 13 0 3.4833 13 55.3587 296.3179 Tm
[(\(II\) )0.5 (Securities )]TJ
-0.025 Tw 6.871 0 Td
(Business)Tj
/T1_0 1 Tf
0.041 Tc 0.07 Tw 13 0 0 13 85.0393 267.3179 Tm
[(Looking)12.6 ( ahead)12.6 ( to)12.6 ( 2)12.5 (0)12.6 (2)12.6 (6)12.5 (,)12.6 ( which)12.5 ( marks)12.6 ( the)12.5 ( inaugural)12.5 ( year)12.6 ( of)12.6 ( the)12.6 ( 1)12.6 (5)12.6 (th)12.6 ( Five-Year)16 ( )]TJ
0.055 Tc 0 -1.115 Td
[(Plan,)12.1 ( China\222s)12.2 ( capital)12.2 ( markets)12.1 ( will)12.2 ( continue)12.1 ( to)12.2 ( deepen)12.1 ( reforms.)12.1 ( The)12.1 ( Group\222s)30 ( )]TJ
0.084 Tc 0 -1.115 Td
[(securities)12.5 ( business)12.6 ( will)12.5 ( benefit)12.6 ( from)12.6 ( sustained)12.6 ( policy)12.6 ( dividends,)12.5 ( deeper)59 ( )]TJ
0.055 Tc 0 -1.115 Td
[(application)12.4 ( of)12.5 ( financial)12.5 ( technology,)12.4 ( and)12.4 ( expansion)12.4 ( of)12.4 ( cross-border)12.5 ( financial)29.9 ( )]TJ
0.033 Tc 0.075 Tw 0 -1.115 Td
[(services,)8 ( )0.5 (while)8.1 ( )0.5 (also)8 ( )0.5 (facing)8.1 ( )0.5 (challenges)8 ( )0.5 (such)8 ( )0.5 (as)8 ( )0.5 (an)8 ( )0.5 (uncertain)8 ( )0.5 (global)8 ( )0.5 (environment,)8 ( )]TJ
0.044 Tc 0.07 Tw 0 -1.115 Td
[(t)0.5 (i)0.6 (g)0.5 (h)0.5 (t)0.6 (e)0.5 (n)0.5 (i)0.6 (n)0.5 (g)13 ( )0.5 (r)0.6 (e)0.5 (g)0.6 (u)0.5 (l)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.6 (n)0.5 (s)0.5 (,)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.5 (i)0.6 (n)0.5 (t)0.5 (e)0.6 (n)0.5 (s)0.5 (i)0.6 (f)0.5 (y)0.5 (i)0.5 (n)0.6 (g)13 ( )0.6 (c)0.5 (o)0.5 (m)0.6 (p)0.5 (e)0.5 (t)0.6 (i)0.5 (t)0.5 (i)0.6 (o)0.5 (n)0.5 (.)13 ( )0.6 (Z)0.5 (h)0.5 (e)0.6 (s)0.5 (h)0.6 (a)0.5 (n)0.5 (g)13.1 ( )0.5 (S)0.5 (e)0.6 (c)0.5 (u)0.6 (r)0.5 (i)0.5 (t)0.5 (i)0.6 (e)0.5 (s)13 ( )0.6 (w)0.5 (i)0.6 (l)0.5 (l)19 ( )]TJ
0.049 Tc 0 -1.115 Td
[(conduct)12.5 ( in-depth)12.5 ( analysis)12.5 ( of)12.5 ( macroeconomic)12.5 ( trends,)12.5 ( adhere)12.5 ( to)12.5 ( the)12.5 ( core)12.5 ( focus)24 ( )]TJ
0.042 Tc 0 -1.115 Td
[(of)12.3 ( \223stabilizing)12.3 ( the)12.4 ( foundation,)12.4 ( expanding)12.3 ( )]TJ
-0.042 Tw (growth)Tj
0.07 Tw [(,)12.3 ( and)12.3 ( optimizing)12.4 ( layout\224,)12.3 ( and)17 ( )]TJ
0.05 Tc 0 -1.115 Td
[(coo)0.5 (rdinat)0.5 (e)12.9 ( ef)0.5 (forts)13 ( to)12.9 ( c)0.5 (onsolida)0.5 (te)12.9 ( f)0.5 (ounda)0.5 (tional)13 ( busin)0.5 (esse)0.5 (s,)12.9 ( ac)0.5 (hieve)13 ( innov)0.5 (ative)25 ( )]TJ
0.086 Tc 0 -1.115 Td
[(breakthroughs)12.6 ( in)12.6 ( new)12.6 ( businesses,)12.5 ( and)12.6 ( optimize)12.6 ( overall)12.5 ( business)12.5 ( layout.)61 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.115 Td
[(Meanwhile,)11 ( )0.5 (Zheshang)11 ( )0.5 (Securities)11 ( will)11 ( )0.5 (focus)11.1 ( on)11 ( )0.5 (core)11 ( )0.5 (businesses)11 ( )0.5 (to)11.1 ( )0.5 (build)11 ( )0.5 (leading)11 ( )]TJ
0.025 Tc 0.028 Tw 0 -1.115 Td
(advantages in niche segments and deepen integration of technology with b\usiness )Tj
0.037 Tc 0.071 Tw 0 -1.115 Td
[(operations.)12 ( )0.5 (Zheshang)12 ( )0.5 (Securities)12 ( )0.5 (will)12 ( )0.5 (strengthen)12 ( )0.5 (synergies)12 ( )0.5 (across)12 ( )0.5 (business)12 ( )0.5 (lines)12 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.115 Td
[(to)11 ( )0.5 (enhance)11 ( )0.5 (resource)11.1 ( )0.5 (allocation)10.9 ( )0.6 (efficiency)11 ( )0.5 (and)11 ( )0.5 (overall)11 ( )0.5 (operational)11 ( )0.5 (effectiveness,)11 ( )]TJ
0.077 Tc 0.07 Tw 0 -1.115 Td
[(th)0.5 (ere)0.5 (by)12.9 ( )0.5 (es)0.5 (tabl)0.5 (ish)0.5 (ing)13 ( di)0.5 (ffe)0.5 (re)0.5 (nti)0.5 (ate)0.5 (d)12.9 ( c)0.5 (omp)0.5 (eti)0.5 (tive)13 ( a)0.5 (dva)0.5 (nta)0.5 (ges)13 ( a)0.5 (mid)13 ( ind)0.5 (ust)0.5 (ry)52 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.115 Td
(restructuring.)Tj
ET

endstreamendobj62 0 obj<</Length 9114>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 37 \226)Tj
/T1_1 1 Tf
-0.025 Tw 13 0 0 13 56.6929 776.409 Tm
(OUTLOOK)Tj
/T1_0 1 Tf
0.062 Tc 0.07 Tw 0 -2.308 Td
[(Looking)12.8 ( ahead)12.8 ( to)12.8 ( 2)12.8 (0)12.8 (2)12.7 (6)12.8 (,)12.8 ( the)12.8 ( global)12.8 ( economy)12.8 ( is)12.8 ( expected)12.8 ( to)12.8 ( maintain)12.8 ( a)12.8 ( moderate)37 ( )]TJ
0.043 Tc 0 -1.154 Td
[(recovery)12.3 ( amid)12.3 ( regional)12.3 ( divergences,)12.3 ( yet)12.3 ( risk)12.3 ( factors)12.3 ( such)12.3 ( as)12.3 ( policy)12.3 ( adjustments)12.4 ( by)18 ( )]TJ
0.054 Tc 0 -1.154 Td
[(m)0.5 (a)0.6 (j)0.5 (o)0.6 (r)13 ( )0.5 (e)0.6 (c)0.5 (o)0.6 (n)0.5 (o)0.5 (m)0.6 (i)0.5 (e)0.6 (s)0.5 (,)13 ( )0.6 (g)0.5 (e)0.6 (o)0.5 (p)0.5 (o)0.6 (l)0.5 (i)0.5 (t)0.6 (i)0.5 (c)0.6 (a)0.5 (l)13 ( )0.6 (c)0.5 (o)0.6 (n)0.5 (f)0.5 (l)0.6 (i)0.5 (c)0.6 (t)0.5 (s)0.5 (,)13.1 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.6 (t)0.5 (r)0.6 (a)0.5 (d)0.5 (e)13.1 ( )0.5 (f)0.6 (r)0.5 (i)0.5 (c)0.6 (t)0.5 (i)0.6 (o)0.5 (n)0.5 (s)13.1 ( )0.5 (w)0.6 (i)0.5 (l)0.5 (l)13.1 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (u)0.6 (e)13 ( )0.6 (t)0.5 (o)13 ( )0.6 (p)0.5 (o)0.5 (s)0.6 (e)29 ( )]TJ
0.04 Tc 0 -1.154 Td
[(pressures)12.5 ( and)12.5 ( uncertainties.)12.5 ( Despite)12.5 ( challenging)12.6 ( and)12.5 ( complex)12.5 ( external)12.6 ( environment)15 ( )]TJ
0.043 Tc 0 -1.154 Td
[(a)0.5 (s)13 ( )0.5 (we)0.5 (l)0.5 (l)13 ( a)0.5 (s)13 ( )0.5 (do)0.5 (m)0.5 (e)0.5 (st)0.5 (i)0.5 (c)13 ( d)0.5 (e)0.5 (v)0.5 (e)0.5 (lo)0.5 (p)0.5 (me)0.5 (n)0.5 (t)13 ( c)0.5 (h)0.5 (a)0.5 (ll)0.5 (e)0.5 (n)0.5 (g)0.5 (es)0.5 (,)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (f)0.5 (un)0.5 (da)0.5 (m)0.5 (e)0.5 (n)0.5 (ta)0.5 (l)13 ( )0.5 (tr)0.5 (e)0.5 (n)0.5 (d)12.9 ( )0.5 (a)0.5 (n)0.5 (d)13 ( s)0.5 (u)0.5 (pp)0.5 (o)0.5 (r)0.5 (ti)0.5 (n)0.5 (g)18 ( )]TJ
0.049 Tc 0 -1.154 Td
[(condi)0.5 (tions)12.9 ( for)13 ( long-ter)0.5 (m)12.9 ( growth)13 ( of)12.9 ( China)0.5 (\222s)12.9 ( eco)0.5 (nomy)12.9 ( rema)0.5 (in)12.9 ( uncha)0.5 (nged.)12.9 ( W)0.5 (ith)12.9 ( the)24 ( )]TJ
0.025 Tc 0.004 Tw 0 -1.154 Td
(coordinated efforts of macro policies, accelerated cultivation of new qu\ality productive )Tj
0.049 Tc 0.07 Tw 0 -1.154 Td
[(forces,)12.6 ( and)12.7 ( continuous)12.7 ( release)12.7 ( of)12.7 ( reform)12.6 ( dividends,)12.7 ( China\222s)12.7 ( economy)12.7 ( is)12.7 ( poised)12.7 ( to)24 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(further strengthen its stable and improving development momentum.)Tj
/T1_1 1 Tf
13 0 3.4833 13 55.3588 595.409 Tm
[(\(I\) )-775.5 (Expressway Business)]TJ
/T1_0 1 Tf
0.038 Tc 0.07 Tw 13 0 0 13 85.0394 565.409 Tm
[(In)12.3 ( 2)12.3 (0)12.3 (2)12.3 (6)12.4 (,)12.3 ( despite)12.3 ( the)12.3 ( phased)12.3 ( impacts)12.3 ( from)12.3 ( traffic)12.3 ( control)12.3 ( for)12.3 ( reconstruction)12.3 ( and)13 ( )]TJ
0.06 Tc 0 -1.154 Td
[(expansion)12.1 ( on)12 ( connecting)12.1 ( external)12 ( road)12.1 ( networks)12.1 ( and)12 ( certain)12.1 ( sections)12.1 ( under)35 ( )]TJ
0.072 Tc 0 -1.154 Td
[(the)12.6 ( Group\222s)12.6 ( operation,)12.6 ( the)12.6 ( sustained)12.6 ( steady)12.6 ( and)12.6 ( positive)12.6 ( trend)12.5 ( of)12.6 ( China\222s)47 ( )]TJ
0.055 Tc 0 -1.154 Td
[(economy,)12.8 ( coupled)12.8 ( with)12.8 ( Zhejiang)12.8 ( Province\222s)12.9 ( resilient)12.9 ( economic)12.8 ( performance)30 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.154 Td
[(and)11 ( )0.5 (continuously)11 ( )0.5 (strengthening)11 ( )0.5 (new)11 ( )0.5 (growth)11 ( )0.5 (drivers,)11 ( )0.5 (will)11 ( )0.5 (jointly)11 ( )0.5 (provide)11.1 ( )0.5 (strong)11 ( )]TJ
0.064 Tc 0.07 Tw 0 -1.154 Td
[(support)12.6 ( for)12.7 ( organic)12.7 ( growth)12.6 ( of)12.6 ( )]TJ
-0.064 Tw (overall)Tj
0.07 Tw 17.496 0 Td
[( traffic)12.7 ( volume)12.6 ( )]TJ
[(of)12.6 ( expressways)]TJ
14.476 0 Td
[( under)39 ( )]TJ
0.042 Tc -31.972 -1.154 Td
[(the)12.6 ( Group\222s)12.5 ( operation.)12.5 ( The)12.5 ( Group)12.5 ( will)12.6 ( fully)12.5 ( seize)12.5 ( opportunities,)12.5 ( adhere)12.5 ( to)12.5 ( the)17 ( )]TJ
0.024 Tc 0 Tw 0 -1.154 Td
[(strategic orientation of \223expanding growth, extending existing busine\ss, activating)-1 ( )]TJ
0.023 Tc 0 -1.154 Td
[(dynamic variables and stabilizing profitability levels\224, and deepen i\mplementation)-2 ( )]TJ
0.026 Tc 0.082 Tw 0 -1.154 Td
[(of)1 ( )0.5 (\223service-centered,)1 ( )0.5 (profit-centered)1 ( )0.5 (and)1 ( )0.5 (brand-centered)1 ( )0.5 (development)1 ( )0.5 (strategies\224)1 ( )]TJ
0.023 Tc 0 Tw 0 -1.154 Td
[(in operation and management, so as to ensure steady operations amid comp\lex and)-2.1 ( )]TJ
0.025 Tc 0 -1.154 Td
(unstable market conditions, thereby creating long-term returns for share\holders.)Tj
/T1_1 1 Tf
0.065 Tc 0.07 Tw 0 -2.308 Td
[(Comprehensively)12.9 ( advance)12.9 ( service)12.9 ( excellence)12.9 ( and)12.9 ( efficiency.)12.8 ( )]TJ
/T1_0 1 Tf
[(In)12.9 ( terms)12.9 ( of)40 ( )]TJ
0.049 Tc 0 -1.154 Td
[(s)0.5 (a)0.5 (f)0.5 (e)0.5 (t)0.5 (y)13 ( )0.5 (a)0.6 (nd)13.1 ( )0.5 (s)0.5 (m)0.5 (o)0.5 (o)0.5 (t)0.5 (h)13 ( )0.5 (t)0.5 (r)0.5 (a)0.5 (f)0.5 (f)0.5 (i)0.5 (c)0.5 (,)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (G)0.6 (ro)0.6 (u)0.5 (p)13 ( )0.5 (w)0.5 (i)0.5 (l)0.5 (l)13 ( )0.5 (l)0.5 (e)0.5 (v)0.5 (e)0.5 (r)0.5 (a)0.5 (g)0.5 (e)13 ( )0.5 (i)0.5 (n)0.5 (t)0.5 (e)0.6 (l)0.5 (l)0.5 (ig)0.6 (e)0.5 (n)0.5 (t)13 ( )0.5 (t)0.5 (e)0.5 (c)0.5 (h)0.5 (n)0.5 (o)0.5 (l)0.5 (o)0.5 (g)0.5 (i)0.5 (e)0.5 (s)13 ( )0.5 (t)0.5 (o)24 ( )]TJ
0.038 Tc 0 -1.154 Td
[(enhance)12.7 ( advance)12.8 ( and)12.7 ( real-time)12.7 ( intervention,)12.7 ( actively)12.7 ( explore)12.8 ( applications)12.8 ( such)13 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.154 Td
[(a)0.5 (s)11 ( )0.5 (d)0.5 (ro)0.5 (n)0.5 (es)11 ( )0.5 (a)0.5 (n)0.5 (d)11 ( )0.5 (ro)0.5 (b)0.5 (o)0.5 (ts)11 ( )0.5 (f)0.5 (o)0.5 (r)11 ( )0.5 (in)0.5 (t)0.5 (el)0.5 (l)0.5 (ig)0.5 (e)0.5 (nt)11.1 ( )0.5 (in)0.5 (s)0.5 (pe)0.5 (c)0.5 (t)0.5 (io)0.5 (n)0.5 (,)10.9 ( )0.5 (a)0.5 (n)0.5 (d)11 ( )0.5 (f)0.5 (ur)0.5 (t)0.5 (he)0.5 (r)11 ( )0.5 (d)0.5 (e)0.5 (e)0.5 (pe)0.5 (n)11 ( )0.5 (c)0.5 (on)0.5 (s)0.5 (tr)0.5 (u)0.5 (c)0.5 (ti)0.5 (o)0.5 (n)11 ( )]TJ
0.062 Tc 0.07 Tw 0 -1.154 Td
[(management)12.5 ( and)12.5 ( intelligent)12.5 ( congestion)12.5 ( mitigation)12.5 ( to)12.5 ( continuously)12.5 ( improve)37.1 ( )]TJ
0.04 Tc 0 -1.154 Td
[(road)12.4 ( network)12.5 ( efficiency.)12.4 ( In)12.4 ( terms)12.4 ( of)12.4 ( service)12.5 ( quality)12.5 ( enhancement,)12.4 ( focusing)12.4 ( on)15 ( )]TJ
0.025 Tc 0.042 Tw 0 -1.154 Td
(precision services and efficient management, the Group will upgrade toll\ stations )Tj
0.04 Tc 0.07 Tw 0 -1.154 Td
[(with)12.7 ( multifunctional)12.7 ( and)12.7 ( intelligent)12.7 ( capabilities,)12.7 ( utilize)12.7 ( traffic)12.7 ( data)12.7 ( for)12.7 ( precise)15.1 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.154 Td
[(customer)11 ( )0.5 (profiling,)11 ( )0.5 (and)11 ( )0.5 (strengthen)11 ( )0.5 (care)11 ( )0.6 (for)11.1 ( truck)11 ( )0.5 (drivers,)11 ( )0.5 (so)11 ( )0.5 (as)11 ( )0.5 (to)11 ( )0.5 (continuously)11 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(elevate user satisfaction, and increase customer loyalty.)Tj
/T1_1 1 Tf
0.004 Tw 0 -2.308 Td
(Deepen the value of expressway core business. )Tj
/T1_0 1 Tf
(The Group will steadily advance )Tj
0.041 Tc 0.07 Tw 0 -1.154 Td
[(re)0.5 (c)0.5 (ons)0.5 (tru)0.5 (ct)0.5 (io)0.5 (n)12.9 ( a)0.5 (nd)13 ( e)0.5 (xpa)0.5 (ns)0.5 (ion)13 ( p)0.5 (roj)0.5 (ec)0.5 (ts)13 ( i)0.5 (ncl)0.5 (ud)0.5 (ing)13 ( J)0.5 (inh)0.5 (ua)13 ( a)0.5 (nd)12.9 ( )0.5 (Sha)0.5 (ox)0.5 (in)0.5 (g)12.9 ( S)0.5 (ec)0.5 (ti)0.5 (ons)16 ( )]TJ
0.071 Tc 0 -1.154 Td
[(of)12.8 ( Ningbo-Jinhua)12.8 ( Expressway,)12.8 ( Zhajiasu)12.8 ( Expressway,)12.8 ( and)12.7 ( Parallel)12.8 ( Line)12.8 ( of)46.1 ( )]TJ
0.029 Tc 0.079 Tw 0 -1.154 Td
[(Ni)0.5 (ng)0.5 (bo-)0.5 (Zh)0.5 (ous)0.5 (ha)0.5 (n)4 ( )0.5 (Ex)0.5 (pre)0.5 (ss)0.5 (wa)0.5 (y)4 ( )0.5 (Ph)0.5 (as)0.5 (e)4 ( )0.5 (II)4.1 ( )0.5 (con)0.5 (st)0.5 (ruc)0.5 (ti)0.5 (on)4 ( )0.5 (p)0.5 (roj)0.5 (ec)0.5 (t,)4 ( )0.5 (w)0.5 (hil)0.5 (e)4 ( )0.5 (c)0.5 (ont)0.5 (inu)0.5 (ou)0.5 (sly)4 ( )]TJ
0.025 Tc 0.039 Tw 0 -1.154 Td
(optimizing traffic organization plans to effectively mitigate constructi\on impacts. )Tj
0.062 Tc 0.07 Tw 0 -1.154 Td
[(The)12.3 ( Group)12.3 ( will)12.3 ( orderly)12.2 ( activate)12.3 ( the)12.3 ( bidding)12.3 ( process)12.3 ( for)12.3 ( reconstruction)12.3 ( and)37 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.154 Td
[(expansion)7 ( )0.5 (project)7 ( )0.5 (of)6.9 ( )0.6 (Shanghai-Hangzhou-Ningbo)6.9 ( )0.6 (Expressway,)7 ( )0.5 (further)7 ( )0.5 (refine)7 ( )0.5 (its)7 ( )]TJ
0.025 Tc 0.053 Tw 0 -1.154 Td
(feasibility study plan, and strive to enhance investment returns. The Gr\oup looks )Tj
0.017 Tw 0 -1.154 Td
(forward to leveraging function of investment platform \223Zhijiang Commu\nications )Tj
0.041 Tc 0.07 Tw 0 -1.154 Td
[(H)0.5 (old)0.5 (ing)0.5 (s\224)13 ( to)13 ( e)0.5 (xp)0.5 (lor)0.5 (e)12.9 ( )0.5 (op)0.5 (por)0.5 (tun)0.5 (it)0.5 (ie)0.5 (s)12.9 ( o)0.5 (f)12.9 ( )0.5 (hig)0.5 (h-)0.5 (qua)0.5 (li)0.5 (ty)12.9 ( )0.5 (ex)0.5 (pr)0.5 (es)0.5 (sw)0.5 (ay)13 ( in)0.5 (ve)0.5 (stm)0.5 (en)0.5 (t)12.9 ( )0.5 (and)16 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(merger & acquisition.)Tj
ET

endstreamendobj61 0 obj<</Length 4787>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 36 \226)Tj
0.079 Tw 13 0 0 13 56.6929 776.3179 Tm
(Deqing County De\222an Highway Construction Co., Ltd., a subsidiary of t\he Company, )Tj
0.038 Tw 0 -1.231 Td
(pledged its trade receivables for its bank borrowing, and as at December\ 31, 2025, the )Tj
0 Tw 0 -1.231 Td
(remaining bank loan balance was Rmb284.43 million.)Tj
0.074 Tw 0 -2.462 Td
[(Zhejiang LongLiLiLong Expressway Co., )0.5 (Ltd., a subsidiary of the Company, pledged )]TJ
0.072 Tw 0 -1.231 Td
(its rights of toll on expressway for its bank and other borrowing, and a\s at December )Tj
0 Tw 0 -1.231 Td
(31, 2025, the remaining bank loan balance was Rmb5,714.23 million.)Tj
0.053 Tc 0.07 Tw 0 -2.462 Td
[(Jiaxing)12.9 ( Zhajiasu)12.9 ( Expressway)12.9 ( Co.,)12.9 ( Ltd.,)12.9 ( a)12.9 ( subsidiary)12.8 ( of)12.9 ( the)12.9 ( Company,)12.8 ( pledged)12.9 ( its)28.1 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(rights)Tj
0.054 Tw ( of toll on expressway for its bank borrowing, and as at December 31, 20\25, the )Tj
0 Tw 0 -1.231 Td
(remaining bank loan balance was Rmb1,241.23 million.)Tj
0.05 Tw 0 -2.462 Td
(Zhejiang Jinhua Yongjin Expressway Co., Ltd., a subsidiary of the Compan\y, pledged )Tj
0.047 Tc 0.07 Tw 0 -1.231 Td
[(its)12.9 ( highway)12.8 ( toll)12.9 ( collection)12.8 ( rights)12.9 ( as)12.9 ( collateral)12.9 ( for)12.9 ( bank)12.9 ( loans.)12.9 ( As)12.8 ( of)12.9 ( December)12.9 ( 3)12.8 (1)12.9 (,)22 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(2025, the remaining bank loan balance was Rmb3.00 million.)Tj
0.026 Tc 0.082 Tw 0 -2.462 Td
[(Other)1 ( )0.5 (than)1 ( )0.5 (as)1.1 ( )0.5 (disclosed)1 ( )0.5 (above,)1 ( )0.5 (the)1 ( )0.5 (Group)1 ( )0.5 (had)1 ( )0.5 (no)0.9 ( )0.6 (other)1 ( )0.5 (contingent)1 ( )0.5 (liabilities)1 ( )0.5 (or)1 ( )0.5 (assets)1 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(pledged as collateral as of December 31, 2025.)Tj
/T1_1 1 Tf
0 -2.462 Td
(Foreign Exchange Risk)Tj
/T1_0 1 Tf
0.074 Tw 0 -2.462 Td
(During the Period, save for \(i\) dividend payments to the holders of H \shares in Hong )Tj
0.035 Tc 0.073 Tw 0 -1.231 Td
[(Kong)10 ( )0.6 (dollars;)10 ( )0.5 (\(ii\))10 ( )0.5 (Zheshang)10 ( )0.5 (International)10.1 ( )0.5 (Financial)10 ( )0.5 (Holding)10 ( )0.6 (Co.,)10 ( )0.5 (Ltd.,)10 ( )0.5 (China)10 ( )0.5 (Guodu)10 ( )]TJ
0.046 Tc 0.07 Tw 0 -1.231 Td
[(\(Hong)12.6 ( Kong\))12.7 ( Financial)12.6 ( Holdings)12.6 ( )]TJ
-0.046 Tw (Limited)Tj
0.07 Tw [(,)12.6 ( Guodu)12.6 ( Securities)12.7 ( \(Hong)12.6 ( Kong\))12.6 ( Limited)21 ( )]TJ
0.05 Tc 0 -1.231 Td
[(\(subsidiaries)12.6 ( of)12.6 ( Zheshang)12.6 ( Securities)12.6 ( Co.,)12.6 ( Ltd.\))12.6 ( operating)12.5 ( in)12.5 ( Hong)12.6 ( Kong;)12.6 ( \(iii\))12.6 ( The)25 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.231 Td
[(r)0.5 (e)0.6 (m)0.5 (a)0.5 (i)0.5 (n)0.6 (i)0.5 (n)0.5 (g)7 ( )0.5 (b)0.5 (a)0.6 (l)0.5 (a)0.5 (n)0.5 (c)0.6 (e)7 ( )0.5 (o)0.5 (f)7 ( )0.5 (t)0.5 (h)0.5 (e)7 ( )0.5 (z)0.6 (e)0.5 (r)0.6 (o)6.9 ( )0.6 (c)0.5 (o)0.5 (u)0.5 (p)0.5 (o)0.6 (n)7 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (v)0.6 (e)0.5 (r)0.5 (t)0.5 (i)0.6 (b)0.5 (l)0.5 (e)7 ( )0.5 (b)0.5 (o)0.6 (n)0.5 (d)7 ( )0.5 (i)0.5 (s)0.5 (s)0.5 (u)0.6 (e)0.5 (d)7 ( )0.5 (i)0.5 (n)7 ( )0.5 (H)0.6 (o)0.5 (n)0.5 (g)7 ( )0.5 (K)0.5 (o)0.5 (n)0.6 (g)7 ( )0.5 (c)0.5 (a)0.5 (p)0.6 (i)0.5 (t)0.5 (a)0.5 (l)7 ( )]TJ
0.046 Tc 0.07 Tw 0 -1.231 Td
[(market)12.8 ( in)12.7 ( January)12.7 ( 2)12.8 (0)12.8 (2)12.7 (1)12.8 (,)12.8 ( which)12.8 ( was)12.8 ( Euro)12.8 (2)12.8 (7)12.7 (.)12.8 (2)12.8 ( million,)12.8 ( had)12.7 ( been)12.8 ( fully)12.8 ( converted)12.8 ( by)21 ( )]TJ
0.025 Tc 0.071 Tw 0 -1.231 Td
(August 29, 2025)Tj
(; \(iv\))Tj
( issuance of the senior fixed-rate bonds with a principal amount )Tj
0.034 Tc 0.074 Tw 0 -1.231 Td
[(o)0.5 (f)9 ( )0.5 (U)0.5 (S)0.5 (D)9 (4)9 (7)9 (0)9 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)9 ( )0.5 (in)9 ( )0.5 (H)0.6 (on)0.5 (g)9 ( )0.5 (K)0.5 (o)0.5 (n)0.5 (g)9 ( )0.5 (c)0.5 (a)0.5 (p)0.5 (i)0.5 (t)0.5 (a)0.5 (l)9 ( )0.5 (m)0.5 (a)0.5 (r)0.5 (k)0.5 (e)0.5 (t)9 ( )0.5 (i)0.5 (n)9 ( )0.5 (J)0.5 (u)0.5 (l)0.5 (y)9 ( )0.5 (2)9 (0)9 (2)9 (1)9 (,)9 ( )0.5 (w)0.5 (h)0.5 (i)0.5 (c)0.5 (h)9 ( )0.5 (w)0.5 (i)0.5 (l)0.5 (l)9 ( )0.5 (b)0.5 (e)9 ( )0.5 (d)0.5 (u)0.5 (e)9 ( )0.5 (i)0.5 (n)9 ( )]TJ
0.025 Tc 0.013 Tw 0 -1.231 Td
(July 2026 and has )Tj
0 Tc 0 Tw (a)Tj
0.025 Tc 0.013 Tw 8.413 0 Td
[( )0.5 (coupon )0.5 (rate of )0.5 (1.638%; )]TJ
-0.025 Tw 10.55 0 Td
(\(v\))Tj
0.013 Tw [( the )0.5 (portion of proceeds raised from )0.5 (the )]TJ
0.038 Tw -18.963 -1.231 Td
(rights issue denominated in Hong Kong dollars; the Group\222s principal \operations were )Tj
0 Tw 0 -1.231 Td
(transacted and booked in Renminbi.)Tj
0 -2.462 Td
(During the Period, the Group has not used financial instruments for hedg\ing purpose.)Tj
ET

endstreamendobj59 0 obj<</Length 8812>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 35 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
(Use of Proceeds from Convertible Bonds and Rights Issue)Tj
/T1_0 1 Tf
13 0 3.4833 13 55.3588 742.5878 Tm
(Convertible Bond 2021)Tj
0.005 Tc 0.04 Tw 13 0 0 13 56.6929 712.5878 Tm
[(The )0.5 (Company )0.5 (issued )]TJ
8.907 0 Td
[(the )0.5 (Convertible )0.5 (Bond )0.5 (2021)]TJ
[( )0.5 (on )0.5 (January )0.5 (20, )0.5 (2021, )0.5 (and )0.5 (after )0.5 (deducting )]TJ
0 Tw -8.907 -1.154 Td
(issuance costs of approximately Euro1 million, the net proceeds from the\ convertible bonds )Tj
0.023 Tc 0.07 Tw 0 -1.154 Td
[(issuance)12.4 ( amounted)12.4 ( to)12.4 ( approximately)12.4 ( Euro)12.4 (2)12.4 (2)12.4 (9)12.5 ( million,)12.4 ( all)12.4 ( of)12.4 ( which)12.4 ( were)12.4 ( used)12.4 ( to)12.4 ( repay)18 ( )]TJ
0.005 Tc 0 Tw 0 -1.154 Td
(existing borrowings.)Tj
0.025 Tc 13 0 3.4833 13 55.3588 636.5878 Tm
(Rights Issue)Tj
0.048 Tc 0.07 Tw 13 0 0 13 56.6929 606.5878 Tm
[(R)0.5 (e)0.5 (f)0.5 (e)0.5 (r)0.5 (en)0.5 (c)0.5 (e)13 ( )0.5 (i)0.5 (s)13 ( )0.5 (ma)0.5 (d)0.5 (e)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (s)0.5 (pe)0.5 (c)0.5 (t)0.5 (u)0.5 (s)13 ( )0.5 (of)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (C)0.5 (om)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 ( d)0.5 (a)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (N)0.5 (ov)0.5 (e)0.5 (m)0.5 (b)0.5 (e)0.5 (r)13 ( 2)13 (1)13 (,)13 ( )0.5 (2)12.9 (0)13 (2)13 (3)13 ( )0.5 (i)0.5 (n)23 ( )]TJ
0.043 Tc 0 -1.154 Td
[(relation)12.1 ( to)12.1 ( the)12.2 ( rights)12.2 ( issue)]TJ
/C0_0 1 Tf
0 Tc 0 Tw 11.39 0 Td
<0080>Tj
/T1_0 1 Tf
0.043 Tc -0.043 Tw 1.031 0 Td
[(the)12.1 ( )]TJ
0 Tc 0 Tw 1.703 0 Td
(\223)Tj
/T1_1 1 Tf
0.043 Tc 0.07 Tw 0.487 0 Td
[(Rights)12.1 ( Issue)]TJ
/T1_0 1 Tf
0 Tc 0 Tw (\224)Tj
/C0_0 1 Tf
6.248 0 Td
<0081>Tj
/T1_0 1 Tf
0.031 Tc -0.031 Tw 0.656 0 Td
(. )Tj
0.043 Tc 0.07 Tw 0.644 0 Td
[(During)12.1 ( the)12.1 ( Period,)12.1 ( the)12.1 ( Group)12.1 ( has)18 ( )]TJ
0.027 Tc 0.081 Tw -22.16 -1.154 Td
[(uti)0.5 (lized)2 ( )0.5 (a)0.5 (pproxi)0.5 (mate)0.5 (ly)2 ( R)0.5 (mb)2 (3)2 (9)2 (0)2 ( m)0.5 (illion)2 ( )0.5 (of)2 ( )0.5 (th)0.5 (e)2 ( )0.5 (net)2 ( )0.5 (proc)0.5 (eeds)2 ( )0.5 (fr)0.5 (om)2 ( )0.5 (the)2 ( )0.5 (Righ)0.5 (ts)2 ( )0.5 (Issue)2.1 ( f)0.5 (or)2 ( )]TJ
0.038 Tc -0.038 Tw 0 -1.154 Td
[(the)12.1 ( )]TJ
0.07 Tw 1.683 0 Td
[(reconstruction)12.1 ( and)12.1 ( expansion)]TJ
12.897 0 Td
[( of)12.1 ( existing)12.2 ( expressway)12.1 ( projects)12.2 ( of)12.1 ( the)12.1 ( Group,)12.1 ( and)13 ( )]TJ
0.025 Tc 0.071 Tw -14.58 -1.154 Td
(approximately Rmb800 million for daily operating expenses such as replen\ishment of )Tj
0.055 Tw 0 -1.154 Td
(liquidity and repayment of borrowings for the Group.)Tj
( Such use of proceeds was made )Tj
0.021 Tc 0 Tw 0 -1.154 Td
[(in accordance with and consistent with the intended use of proceeds for \the Rights Issue)-4 ( )]TJ
0.025 Tc 0 -1.154 Td
(as previously disclosed.)Tj
0.083 Tw 0 -2.308 Td
[(A)-1.3 (s o)-1.3 (f )0.5 (D)-1.4 (e)-1.3 (c)-1.4 (e)-1.3 (m)-1.4 (b)-1.4 (e)-1.3 (r )0.5 (31, 2025, )]TJ
0.026 Tc 0.082 Tw 11.853 0 Td
[(out)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (total)1 ( )0.5 (amount)1.1 ( )0.5 (of)1 ( )0.5 (Rmb)1 (6)1 (,)1 (1)1 (2)1 (0)1 ( )0.5 (million)1 ( )0.5 (net)1 ( )0.5 (proceeds)1 ( )]TJ
0.04 Tc 0.07 Tw -11.853 -1.154 Td
[(raised)12.4 ( from)12.4 ( the)12.4 ( Rights)12.4 ( Issue,)12.4 ( )]TJ
[(the)12.4 ( Group)12.5 ( had)12.4 ( utilized)12.4 ( )]TJ
[(an)12.4 ( aggregate)12.5 ( of)12.5 ( )]TJ
-0.04 Tw [(approximately)15 ( )]TJ
0.054 Tc -0.054 Tw 0 -1.154 Td
[(R)-12.7 (m)-12.8 (b1,370 )]TJ
0.067 Tc 0.07 Tw 5.041 0 Td
[(million)12.7 ( for)]TJ
5.085 0 Td
[( the)12.8 ( )]TJ
[(reconstruction)12.7 ( and)12.8 ( expansion)]TJ
15.874 0 Td
[( of)12.8 ( existing)12.7 ( expressway)42 ( )]TJ
0.049 Tc -26 -1.154 Td
[(projects,)12.3 ( and)12.3 ( approximately)12.3 ( Rmb)12.3 (8)12.2 (0)12.3 (0)12.3 ( million)12.3 ( for)12.2 ( daily)12.2 ( operating)12.3 ( expenses)12.2 ( such)12.3 ( as)24 ( )]TJ
0.027 Tc 0.081 Tw 0 -1.154 Td
[(replenishment)2 ( )0.5 (of)2.1 ( liquidity)2 ( )0.5 (and)2 ( )0.5 (repayment)2 ( )0.5 (of)2 ( borrowings.)2 ( )0.5 (The)2 ( )0.5 (remaining)2 ( )0.5 (net)2 ( )0.5 (proceeds)2 ( )]TJ
0.028 Tc 0.08 Tw 0 -1.154 Td
[(f)0.5 (r)0.5 (o)0.5 (m)3 ( )0.5 (t)0.5 (h)0.5 (e)3 ( )]TJ
0 Tc 0 Tw 4.069 0 Td
(R)Tj
0.028 Tc -0.028 Tw 0.695 0 Td
[(i)0.5 (g)0.5 (h)0.5 (t)0.5 (s)3 ( )]TJ
0 Tc 0 Tw 2.438 0 Td
(I)Tj
0.028 Tc 0.08 Tw 0.361 0 Td
[(s)0.5 (s)0.5 (u)0.5 (e)3 ( )0.5 (a)0.5 (m)0.5 (o)0.5 (u)0.5 (nt)0.5 (e)0.5 (d)3 ( )0.5 (t)0.5 (o)3 ( )0.5 (a)0.5 (p)0.5 (p)0.5 (r)0.5 (o)0.5 (x)0.5 (im)0.5 (a)0.5 (t)0.5 (e)0.5 (l)0.5 (y)3 ( )0.5 (R)0.5 (m)0.5 (b)3 (3)3 (,)3 (9)3 (5)3 (0)3 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (io)0.5 (n)]TJ
22.224 0 Td
[(.)3 ( )0.5 (A)0.5 (s)3 ( )0.5 (d)0.5 (i)0.5 (s)0.5 (c)0.5 (l)0.5 (os)0.5 (e)0.5 (d)3 ( )0.6 (in)3 ( )]TJ
0.025 Tc 0.07 Tw -29.785 -1.154 Td
[(the )0.5 (announcement of )0.5 (the )0.5 (Company dated )0.5 (December )0.5 (31, )0.5 (2025, )]TJ
0 Tc 0 Tw 27.074 0 Td
(t)Tj
0.025 Tc -0.025 Tw 0.303 0 Td
(he)Tj
0.07 Tw [( )0.5 (remaining proceeds )]TJ
0.026 Tc 0.082 Tw -27.376 -1.154 Td
[(were)1 ( )0.5 (reallocated)1 ( )0.5 (as)1 ( )0.5 (follows:)1 ( )0.5 (\(i\))1 ( )0.5 (approximately)1 ( )0.5 (Rmb)1 (2)1 (,)1 (3)1 (3)1 (0)1 ( )0.5 (million)1 ( )0.5 (will)1 ( )0.5 (be)1 ( )0.5 (used)1 ( )0.5 (for)1 ( the)1 ( )]TJ
0.046 Tc 0.07 Tw 0 -1.154 Td
[(reconstruction)12.4 ( and)12.4 ( expansion)12.5 ( of)12.4 ( existing)12.4 ( expressway)12.5 ( projects,)12.4 ( with)12.5 ( full)12.5 ( utilization)21 ( )]TJ
0.025 Tc 0.004 Tw 0 -1.154 Td
(expected by December 31, 2028 \(it is estimated that Rmb940 million, Rmb\940 million, )Tj
0.033 Tc 0.075 Tw 0 -1.154 Td
[(and)8 ( )0.5 (Rmb)8 (4)8 (5)8 (0)8 ( )0.5 (million)8 ( )0.5 (will)8 ( )0.5 (be)8 ( )0.5 (utilized)8 ( )0.5 (annually)8 ( )0.5 (over)8 ( )0.5 (the)8 ( )0.5 (three)8 ( )0.5 (years)8 ( )0.5 (ending)8 ( )0.5 (December)8 ( )]TJ
0.025 Tc 0.046 Tw 0 -1.154 Td
(31, 2028, respectively. The timetable for utilizing the proceeds is subj\ect to the actual )Tj
0.043 Tc 0.07 Tw 0 -1.154 Td
[(progress)12.5 ( of)12.5 ( expressway)12.4 ( reconstruction)12.5 ( and)12.4 ( expansion)12.5 ( projects)12.5 ( and)12.4 ( will)12.5 ( be)12.4 ( adjusted)18 ( )]TJ
0.025 Tc 0.005 Tw 0 -1.154 Td
(accordingly\); and \(ii\) approximately Rmb1,620 million will be used fo\r daily operating )Tj
0.039 Tc 0.07 Tw 0 -1.154 Td
[(expenses)12.6 ( such)12.7 ( as)12.7 ( replenishment)12.7 ( of)12.7 ( liquidity)12.6 ( and)12.7 ( repayment)12.6 ( of)12.7 ( borrowings,)12.6 ( which)12.6 ( is)14.1 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(expected to be fully utilized by December 31, 2026.)Tj
/T1_1 1 Tf
0 -2.385 Td
(Contingent Liabilities and Pledge of Assets)Tj
/T1_0 1 Tf
0.043 Tw 0 -2.308 Td
(The Company and Shaoxing Communications Investment Group Co., Ltd. \(\223\)Tj
/T1_1 1 Tf
-0.025 Tw (Shaoxing )Tj
0.053 Tc -0.053 Tw 0 -1.154 Td
(Communications)Tj
/T1_0 1 Tf
0.07 Tw [(\224,)12.1 ( the)12.1 ( other)12.2 ( joint)12.2 ( venture)12.1 ( partner)12.2 ( that)12.2 ( holds)12.2 ( 5)12.2 (0)12.1 (%)12.2 ( equity)12.2 ( interest)27.9 ( )]TJ
0.052 Tc 0 -1.154 Td
[(i)0.5 (n)13 ( )0.5 (S)0.5 (h)0.5 (e)0.5 (n)0.5 (g)0.5 (x)0.5 (i)0.5 (n)13 ( )0.5 (C)0.5 (o)0.5 (\))13 ( )0.5 (p)0.5 (r)0.6 (o)0.5 (v)0.5 (id)0.6 (e)0.5 (d)13 ( )0.5 (S)0.5 (h)0.5 (e)0.5 (n)0.5 (g)0.5 (x)0.5 (i)0.5 (n)13 ( )0.5 (C)0.5 (o)13 ( )0.5 (w)0.5 (i)0.5 (t)0.5 (h)13 ( )0.5 (j)0.5 (o)0.5 (i)0.5 (n)0.5 (t)13 ( )0.5 (g)0.5 (u)0.5 (a)0.6 (r)0.5 (a)0.5 (n)0.5 (t)0.5 (e)0.5 (e)13 ( )0.5 (f)0.5 (o)0.5 (r)13 ( )0.5 (i)0.5 (t)0.5 (s)13 ( )0.5 (b)0.5 (a)0.6 (n)0.5 (k)13 ( )0.5 (l)0.5 (o)0.5 (a)0.5 (n)0.5 (s)13 ( )0.5 (o)0.5 (f)27 ( )]TJ
0.033 Tc 0.075 Tw 0 -1.154 Td
[(Rmb)8 (2)8 (.)8 (2)8 (0)8 ( )0.5 (billion,)8 ( )0.5 (in)8 ( )0.6 (accordance)8 ( )0.5 (w)0.5 (ith)8 ( )0.6 (their)8 ( )0.5 (proportionate)8 ( )0.5 (e)0.5 (qu)0.5 (ity)8 ( )0.6 (in)0.5 (terests)8 ( )0.5 (in)8 ( )0.5 (Shengxin)8 ( )]TJ
0.061 Tc 0.07 Tw 0 -1.154 Td
[(Co)0.5 (.)12.9 ( As)13 ( at)12.9 ( )0.5 (Dec)0.5 (embe)0.5 (r)12.9 ( 3)12.9 (1)13 (,)12.9 ( 2)12.9 (0)12.9 (2)13 (5)12.9 (,)12.9 ( th)0.5 (e)12.9 ( r)0.5 (emain)0.5 (ing)12.9 ( )0.5 (bank)12.9 ( )0.5 (loan)13 ( bal)0.5 (anc)0.5 (e)12.9 ( wa)0.5 (s)12.9 ( Rm)0.5 (b)12.9 (3)12.9 (7)12.9 (0)12.9 (.)13 (5)12.9 (2)36 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(million. These guarantees were released on February 2, 2026.)Tj
0.04 Tc 0.07 Tw 0 -2.308 Td
[(Zhejiang)12.8 ( Zhoushan)12.9 ( Bay)12.9 ( Bridge)12.9 ( Co.,)12.9 ( Ltd.,)12.9 ( a)12.9 ( subsidiary)12.9 ( of)12.9 ( the)12.9 ( Company,)12.9 ( pledged)12.8 ( its)15 ( )]TJ
0.025 Tc 0.054 Tw 0 -1.154 Td
(rights of toll on expressway for its bank borrowing, and as at December \31, 2025, the )Tj
0 Tw 0 -1.154 Td
(remaining bank loan balance was Rmb4,475.58 million.)Tj
ET

endstreamendobj60 0 obj<</BaseFont/OTAXNL+MSungHK-Light/DescendantFonts 71 0 R/Encoding/Identity-H/Subtype/Type0/Type/Font>>endobj71 0 obj[72 0 R]endobj72 0 obj<</BaseFont/OTAXNL+MSungHK-Light/CIDSystemInfo 73 0 R/DW 1000/FontDescriptor 74 0 R/Subtype/CIDFontType0/Type/Font>>endobj73 0 obj<</Ordering(CNS1)/Registry(Adobe)/Supplement 5>>endobj74 0 obj<</Ascent 1071/CIDSet 75 0 R/CapHeight 662/Descent -212/Flags 6/FontBBox[-10 -212 1010 1071]/FontFamily(MSungHK-Light)/FontFile3 76 0 R/FontName/OTAXNL+MSungHK-Light/FontStretch/Normal/FontWeight 400/ItalicAngle 0/StemV 68/Type/FontDescriptor/XHeight 400>>endobj75 0 obj<</Filter/FlateDecode/Length 81>>stream
H塲`@(,L?pC溍臓€&
奭A 眖8?
?@?!YN纴E虂€&蜾€9
endstreamendobj76 0 obj<</Filter/FlateDecode/Length 6161/Subtype/CIDFontType0C>>stream
H塗P{P搘%厉择砡榔h腤腝?VEy剣‥0騿人銩搦抾y !HET衂a芖g穂[霂谘槎蝴魏磕_谫?觜u罟畿棍0侭儍q(;%/殐Y?i敃斨膡＝K葬,锴/+乱飋#蝠-_J"A`廦B_?hX焤拨垱殲祣Uq,;祮钳懡>1馭vjiY	v6熐e镦謺昑詿実V??貦埴nm#鱠=Y譵b熶烔胵q?U'?@e5饃A乯	雰猷釔e!?拹g!u區苀皴s"卯屋^>??e翞EB倐?x 2dh)俕2D羪怜BfCト`篑?5asх%G瑹縩
g狒㈨??:瘙(u	M璙<梹€? fQV絀讌+d襈i4d@?&E沥噋?參S!_
漁€`+dK愃栮sT~_?櫑鄪t蘪m駋?`
肅$EE€"饒V氰官~}?麸硁*
宑J觿眽?M PVｔ吹A馅<夽>b煄"X觢?
X
Z€/`
嶐.褫&&
<y趠:!II4潝槽j叫岙橧w漪嵝[	菅zi9Y恞4煋O繺2qcq俪;攘塊S脳魢瑊埝#
H沐+勉j\冺.= 倠eD]E?H~@,`&>4襨j\紤2+摀嶘_螝騷O樖臾ta眼l徽ˉu瀎n叓翃/榔s蜬f=]mWP竉肟L€M ?
6汱k揾]5畆s<缋T葐熰噙4了?(9^淿晿,3澏痿祐匠印k涣zZ?艓?┭`4樆琰歺o觢珗糡<\琬Ng_$_蹉篼M徍侯6]m6f7fW玮?廾尼扁b枴;*L)緄V氿稝拥O厶Q@刬?T囅	爞˙?竵沫2諥q7憙Q啃輇;?钳R\肣綷La綽h4锞A骁#鑐旹m樵藱揠鑟賞#1TNk汄樏A"|瘆旸冼觥V?仂`謴澉眿剚/瓏〩+S点t孠jJ鹏]E?泬$萖綉組#"{跽_~d矻?踦胺國蹓g燒9Y+2
*崐胰uF囂蒈sj苵肜吡x"?噿樆君鰷@L篤^壔喡p氟?T	H恡
$虃卄藁8餛!執铻?L*攝喴藴k鰌?fg^?R?鲲?糀銦ed 锦驮wW頭7閣^#媌媍銎醂`5M覷4k裣箫跑埰F缩燕<*峎臯m妄唓V猌H>州阄?
l鹎?逗10燾C#訰淡Q蹹做(扊8/'スm筸?矈*	笱3mz驲z遪B愈潁)蠙皮薊gz厓差蓈座憭
灣躚?炽?^9
gP鲾闫●郡??jq[荺.婒瓤4m'蟜5湓d怵Wt压
e4孝;醰F惄?陪qYL輙褘x譩聨vuL愰*鉈逃B藴ЮP?=ずiU徂2L铸?k;8M置>
戉	
m
47€"繻	]咱⑩[邬Cgz媨*Z
/J?z岔頪b隣溍褦o硰#ǔ擱卦敀	2黲酜t犜牑UF%夾!奎{-u?]r萖鬒鬔瑼鮬妮13`-杦(?玟?\X/?4悖
Q;炗Ui?拨K晼：&i１佘?C.?鶠蠲??匵.g債嚎|O菥弘鸌:1~藆m?0戰栀鼮?f;鎙s珥m澓aT蚦橇?膀昄夊蹋歝?貐乆Y树鵊X嚜M}硎n躿?";Q9HF@/恒嚋|.lTePvtm糎B.L缕J僝堠崀嵤`2SQO9⒃UTtW靝聧-	隻列愫6r泣闳W坞帀淆綇N><汁?l赹s郡O?j眰堤瞛4窕痭~`眐G璅昮@??D@詏:?姭<笁雽搲祷巿閿怚?a挃`a垗僌俶寍l贃%_瞕藮%K獷猾盏篤?K>?l莁<丂&+mJB鄞y&咸t欃?~阐筹斤龓镗S鳴奢爷湖掠餛澬?9?鷝zk杲泬琉Hp$>頉IO:]Q骡k4嘥娟jL!啢(!綍zgq叨7aF!D6饗Q 榼Z螚丙U|n5GP弹4玚ユNj麆噱h偮)ieg辜J儊m獕7醴E诨;邡碭.焫蝋躄un9婣{[??x=藼螂>m蝛舳鳾筕孎R硹㈢?x5膈
?nU郪7褨	軺=S膆B~職饚9輧z~pV胙二9鴔痹l?\z灈H崬ypW灖媮漃?'礠臭磽硾魷谯榍虉^?篖
硟譶$p[Hh酜ラ扉UkV€Q嶷K鸊沊i祿bpoY牑va?
?(氒别y玲.羓%Jq硉?擅K枛
?鋘`厉厼!(阼冉.蔠娴??玺鋔,?-讐颱近9皻'7茂#Ej狍匸
^隦刀u+I6霟頮}4lM啋犍1廳h颳辷?塩Q晥IZW簨秘=P凓A?U搾d鰒浺N轴`#GT撀Y)=KG輲?獩?:V錆邺f瀝↗mニ^?/v;寯褱?Z_V_z埐坋N|t猃or筌 )kxs苆珔墨觷X沮?鑣L鲫8,┌ ?稬,寇pワ>lAb	笉z\嶗饻梵JA?H#饅彾騢m/
廤
啁$sT餿韁%O`3獆_?赞Dc?R桬髷?94Qi奶h\觬澗.甯繼渞梁祜v\呌罷|4>筛苲;煗刞;屎搗漜讓睹鏟:哪鑸醘'6A
9[SV獐1娡hB7L哯R?草嚇秳.F{H浰赎W磱螘豶i1.巇_檨噽#m煩.骜8煑c箰?讠腚挅-農蔐樛	涜腑.悳跬?%?:3<e貼ψ埨N顾谦孤s5羉k废鄁颳午z蒜負宛杙猍捳x威睤苹?貜LJN鸕瓵嵮S?*?戯k蚃塦匞z`焅繑3MH搸H4品;4(檼5鴯p?]?%{]?桉?万A{Y垧s铌琾飉辞睿\饫鉾q'9me?剜;
鱐垒秽6鍓c?c3蒏?轴d徎囆飪豚孄甲?Q黬寤飃崠_)酀$慆藢VV鬘陜跑疐鶐鲳苙樠笔璭UgX炊?慓?溾咓!€IT甽l痬)?n8;逻胎锋楁1貎z%硥M谨z<J猀<泓`	0&Z9盭戅O?芉SFN~裉8朆齧?樁埑疂,:u牞XL€v
 V{尾n
@&闚袆Gj岭耎W竻k羣蔺E/鸥h/愕r漧m餞嶑笸下仲駾誤萃X騪唈X得q:??h怿蒹镘厛n)釗<賵:|)搧藷瘊趬畸.xC脇?薆(相A?C匋^A戾N叓2	
%?堊kw	慽;?^纔?依特B劤菆0煽往J`FJ篌J婮ZV函b鄊9殷E0.
7Qg`醛se_蓌i?;?9羊Fo[惭3垏;韽r覵髢缦懚>曧U黍結LBh泙	佔2x磪GVC`H0鰾耧37W缹	?\6;
智
:荲毊灢鉲瘝孧XG綫#	谆gw潫笎Z熍Xg*?W駃Z?忪?偔nG41U?︻吱僩讇=吕紫??]籉@F'?Sc?n爞M?櫿怾檵聋菮=C2ぽ*~剺U芞冔憯躀?~,)兛藖蹱c!耖萨鴯[&`爉￣T媆S?)j颟擁旬?㈢悄!n4釬薎	?|撦C柊瘦eT劕	OHb??篴	贚婂輗梱PWw1V种f唫槏D7普諗n\?+娛俀t9g9EA泾鎌哻帪铋殚f€哻翣
＋!賈珤輮kV?逯?n摽^U竭{U哌鱹<ex鋖+?€F1?囅昿$}劮Jwf蚔	葨p_颌嫢製旘R
脻}馀綿}槈6淏k祕`4榢噅/浵醞藄.c濘赔R槁轔
躖:蠔狹逶	倽'X{?萒冮檷霓璬羆姁賒蠷?:?
豕%鰆蘼貪篩胯釞R5楸撕`总l醖P麸OR`H
鯻?惏p#*- ,/醤騡?紎惤h嚵鴻荮wez1踱N雊td釞萙⒏萪.	蒸H9/鄳伧爔総&銎懕釞硹?灜b廟i挦1喑.茄畹胄褒∥N瘌{G5淮凼?	%歺&蹝沛Zj闢^w?wi伫@渇毀蝫Q$6
毤b{c醷勏拍ce嬩鳃硪譺d圏秴俅暂薙摚s菷鴸郀繦楟_q畺0'&捰├X5&?︶艰eU帲cTz&A憔>菝点N#苪Q?麕m诉^$吚/櫃崎xZ?Ic浻rΗ&鐽uo誧jdo阃j嬍R蓷潷囮F?Jc?幆()?ㄍ2&檲n?礝F埋P4騘囥[糃FO%+
渿S3;.Q徊1媿7q験t$獺P鲊S曍d?腙访OF宼澷`VjSJ瀲~富ｍ偵.黪凁{	q?桀k櫢櫊鄁镑?
C!蕾茉㈨入Lq捫z2[敽8%
┅d&FYP]摃@l6庒h瀔-h.w?O峰橂j跽t軥FC?^RＪO鏍纇碽z儉?銣撑X&*'眕?zn;g 鈰bAWF7禾?菺h?(€綏=棃叆窺蠊洉=z僰:?.?鱠r		v,uu:劈?OA??埀@從$瑷﹩	颴遷Sm蟍7７&駎玀腔8谂?儔?~<擈溻呇伀键譣廠〨?b釰詢旵F妨烁iG/П鮎埴憜? 粲nA嗵|橇~
v
-v\?l玀穷8Ghw8:v莥
滷$|g搿衒黅?Es傶咑凢J$oK6蓹x齿€6J
妄
PDo搯鈿|]ayj偄(m╲	u鉢C簸~N鈴砭n2陰2C繛囜嘞i匚,?厨?v[+CGǖh)>悊盉償恸 ?袟伇渉鍈9愽l偹lF韚N悕噼8L #f擨XywR!h逕嶻N?mR?^P斀X?V僣@駏/雵垴üxvx^
Ｇnb狩侊洍1さE?搟敒D彇諻閡}99?W?覷D4賊"靵c渚11貞	 瞊Qc陬?渚-籣甖|務裫渚魦%雋秷r擀`諏9e肣,覑冹∞?蕇謾#?k{i噳Rv?幆4C}}?X桾昋┈説誽嗊UDZ6Z	旾艌瞘8么矔?孭R填术蚬靊轁&柗b?k铓戟e蔍暜T疷4&玸jM1;P篚棽?犐嫞貃C-8娈]鸨7┋5J喛棨拴倪慇.>[嵰jg桃郄踏哜]J篚幩亡:w暈彎駣爻狥u●w渡嗷)@w紸冶.谯w鑣闐祜荘疀皊瞫s负?楷鴵併寲鷒y汙+鹇蕷荈n蝅浐Pc2歀2eYlaR	!1`k{{{[{Z?ZWr揦鮠-鱕ETY机Z<l&.Ir腏鴞 6Cz衴?婩i6続昲琬塝X嚈戇E怭~伏N;F?釤]齨釽_坥%
缮P(圔2驈P€殔橇?~鹅W綻忹佋脀|嵇噒迹ro€酎@貂精,渎祂_处詹狋?!缤_ 瘕AP界&_韒汖啁﹟%2ba p艗媷s)譇钆键<{羠
&X
endstreamendobj58 0 obj<</Length 7582>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 34 \226)Tj
0.043 Tc 0.07 Tw 13 0 0 13 56.6929 776.3179 Tm
[(During)12.6 ( the)12.6 ( Period,)12.6 ( total)12.6 ( interest)12.6 ( expenses)12.5 ( and)12.6 ( profit)12.6 ( before)12.6 ( interest)12.6 ( and)12.6 ( tax)12.6 ( for)12.6 ( the)18 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
[(P)0.5 (e)0.5 (r)0.5 (i)0.5 (o)0.5 (d)0.5 ( )0.5 (a)0.5 (m)0.5 (o)0.5 (un)0.6 (te)0.5 (d)0.5 ( )0.5 (t)0.5 (o)0.5 ( )0.5 (R)0.5 (m)0.5 (b)0.5 (1)0.5 (,)0.5 (5)0.5 (4)0.5 (6)0.5 (.)0.5 (91)0.5 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)0.5 ( )0.5 (a)0.5 (n)0.5 (d)0.5 ( )0.5 (Rm)0.5 (b)0.5 (1)0.5 (1)0.5 (,)0.5 (3)0.5 (3)0.5 (6)0.5 (.)0.5 (4)0.5 (9)0.5 ( )0.5 (m)0.5 (il)0.5 (l)0.5 (i)0.5 (o)0.5 (n)0.5 (,)0.5 ( )0.5 (r)0.5 (e)0.5 (s)0.5 (p)0.5 (e)0.5 (c)0.5 (t)0.5 (i)0.5 (v)0.5 (e)0.5 (l)0.5 (y)0.5 (.)0.5 ( )0.5 (Th)0.6 (e )]TJ
0.083 Tw 0 -1.231 Td
[(interest )0.5 (cover ratio )0.5 (\(profit )0.5 (before )0.5 (interest )0.5 (and )0.5 (tax )0.5 (over )0.5 (interest )0.5 (expenses\) )0.5 (stood )0.5 (at 7.3 )]TJ
0 Tw 0 -1.231 Td
(times \(Corresponding period of 2024: 6.1 )Tj
-0.025 Tw (times)Tj
(\).)Tj
0.061 Tw 0 -2.462 Td
(As at December 31, 2025, the asset-liability ratio \(total liabilities o\ver total assets\) of )Tj
0.078 Tw 0 -1.231 Td
(the Group was 68.3% \(December 31, 2024: 66.1%\). Excluding the effect o\f customer )Tj
0.039 Tc 0.07 Tw 0 -1.231 Td
[(deposits)12.7 ( arising)12.7 ( from)12.7 ( the)12.7 ( securities)12.7 ( business,)12.7 ( the)12.7 ( resultant)12.7 ( asset-liability)12.8 ( ratio)12.7 ( \(total)14 ( )]TJ
0.063 Tc 0 -1.231 Td
[(l)0.5 (i)0.5 (a)0.6 (b)0.5 (i)0.5 (l)0.5 (i)0.5 (t)0.6 (i)0.5 (e)0.5 (s)13 ( )0.6 (l)0.5 (e)0.5 (s)0.5 (s)13.1 ( )0.5 (b)0.5 (a)0.5 (l)0.6 (a)0.5 (n)0.5 (c)0.5 (e)13.1 ( )0.5 (o)0.5 (f)13 ( )0.6 (a)0.5 (c)0.5 (c)0.6 (o)0.5 (u)0.5 (n)0.5 (t)0.5 (s)13.1 ( )0.5 (p)0.5 (a)0.5 (y)0.6 (a)0.5 (b)0.5 (l)0.5 (e)13.1 ( )0.5 (t)0.5 (o)13 ( )0.6 (c)0.5 (u)0.5 (s)0.5 (t)0.6 (o)0.5 (m)0.5 (e)0.5 (r)0.5 (s)13.1 ( )0.5 (a)0.5 (r)0.6 (i)0.5 (s)0.5 (i)0.5 (n)0.5 (g)13 ( )0.6 (f)0.5 (r)0.5 (o)0.5 (m)13 ( )0.6 (s)0.5 (e)0.5 (c)0.6 (u)0.5 (r)0.5 (i)0.5 (t)0.5 (i)0.6 (e)0.5 (s)38 ( )]TJ
0.048 Tc 0 -1.231 Td
[(business)12.6 ( over)12.6 ( total)12.5 ( assets)12.6 ( less)12.6 ( bank)12.6 ( balances)12.6 ( and)12.5 ( clearing)12.6 ( settlement)12.6 ( fund)12.6 ( held)12.6 ( on)23 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(behalf of customers\) of the Group was 58.1% \(December 31, 2024: 56.6%\)\.)Tj
/T1_1 1 Tf
0 -2.462 Td
(Capital Structure)Tj
/T1_0 1 Tf
0.064 Tc 0.07 Tw 0 -2.462 Td
[(A)0.5 (s)13 ( )0.5 (a)0.5 (t)13 ( )0.6 (D)0.5 (e)0.5 (c)0.5 (e)0.5 (m)0.5 (b)0.5 (e)0.5 (r)13 ( )0.5 (3)13 (1)13 (,)13 ( )0.6 (2)13 (0)13 (2)13 (5)12.9 (,)13.1 ( t)0.6 (he)13.1 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.5 (h)0.5 (a)0.5 (d)13 ( )0.5 (R)0.5 (m)0.5 (b)13 (9)13 (3)13 (,)13 (0)13 (4)13 (9)13 (.)13 (3)13 (3)13 ( )0.5 (m)0.5 (i)0.6 (ll)0.6 (io)0.6 (n)12.9 ( )0.6 (i)0.5 (n)13 ( )0.5 (t)0.5 (o)0.5 (t)0.5 (a)0.5 (l)13 ( )0.5 (e)0.5 (q)0.5 (u)0.5 (i)0.5 (t)0.5 (y)0.5 (,)39 ( )]TJ
0.025 Tc 0.052 Tw 0 -1.231 Td
(Rmb132,212.29 million in fixed-rate liabilities, Rmb15,860.52 million in\ floating-rate )Tj
0.036 Tc 0.072 Tw 0 -1.231 Td
[(liabilities,)11 ( )0.5 (and)11 ( )0.5 (Rmb)11 (5)11 (2)10.9 (,)11 (2)11 (9)11 (0)11 (.)11 (7)11 (7)11 ( )0.5 (million)11 ( )0.5 (in)11 ( )0.5 (interest-free)11 ( )0.5 (liabilities,)11 ( )0.5 (representing)11 ( )0.5 (3)11 (1)11 (.)11 (7)11 (%,)11 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.231 Td
[(4)7 (5)7 (.)7 (1)7 (%,)7 ( )0.5 (5)7 (.)7 (4)7 (%)7 ( )0.5 (an)0.5 (d)7 ( )0.5 (1)7 (7)7 (.)7 (8)7 (%)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.6 (Group)0.5 (\222s)7 ( )0.5 (tot)0.5 (al)7 ( )0.5 (ca)0.5 (pita)0.5 (l,)7 ( )0.5 (res)0.5 (pect)0.5 (ivel)0.5 (y.)7 ( )0.5 (The)7 ( )0.5 (g)0.5 (ear)0.5 (ing)7 ( )0.5 (ra)0.5 (tio,)7 ( )]TJ
0.025 Tc 0.074 Tw 0 -1.231 Td
(which is computed by dividing the total liabilities less accounts payabl\e to customers )Tj
0.037 Tc 0.071 Tw 0 -1.231 Td
[(a)0.5 (r)0.6 (i)0.5 (s)0.5 (i)0.6 (n)0.5 (g)12 ( )0.5 (f)0.5 (r)0.6 (o)0.5 (m)12 ( )0.5 (t)0.5 (h)0.5 (e)12.1 ( )0.5 (s)0.5 (e)0.6 (c)0.5 (u)0.5 (r)0.5 (i)0.6 (t)0.5 (i)0.5 (e)0.6 (s)12 ( )0.5 (b)0.5 (u)0.5 (s)0.6 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (s)12 ( )0.5 (b)0.5 (y)12 ( )0.6 (t)0.5 (o)0.5 (t)0.5 (a)0.6 (l)12 ( )0.5 (e)0.5 (q)0.5 (u)0.6 (i)0.5 (t)0.5 (y)0.6 (,)11.9 ( )0.6 (w)0.5 (a)0.5 (s)12.1 ( )0.5 (1)12 (3)12 (7)12 (.)12 (6)12 (%)12 ( )0.5 (a)0.5 (s)12 ( )0.5 (a)0.6 (t)12 ( )0.5 (D)0.5 (e)0.6 (c)0.5 (e)0.5 (m)0.6 (b)0.5 (e)0.5 (r)12.1 ( )0.5 (3)11.9 (1)12.1 (,)12 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(2025 \(December 31, 2024: 129.0%\).)Tj
/T1_1 1 Tf
0 -2.462 Td
(Capital Expenditure Commitments and Utilization)Tj
/T1_0 1 Tf
0.049 Tc 0.07 Tw 0 -2.462 Td
[(During)12.5 ( the)12.5 ( Period,)12.5 ( capital)12.4 ( expenditure)12.4 ( of)12.4 ( the)12.5 ( Group)12.4 ( totaled)12.5 ( Rmb)12.5 (4)12.5 (,)12.4 (0)12.5 (8)12.5 (7)12.4 (.)12.5 (8)12.4 (4)12.5 ( million.)24 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Amongst the total capital expenditure, Rmb1,134.50 million was incurred \for acquiring )Tj
0.041 Tc 0.07 Tw 0 -1.231 Td
[(equity)12.1 ( investment,)12.2 ( Rmb)12.1 (8)12.1 (6)12.2 (.)12.1 (1)12.1 (1)12.2 ( million)12.1 ( was)12.2 ( incurred)12.2 ( for)12.1 ( acquisition)12.1 ( and)12.1 ( construction)16 ( )]TJ
0.047 Tc 0 -1.231 Td
[(of)12.2 ( properties,)12.2 ( Rmb)12.2 (1)12.3 (,)12.2 (1)12.2 (6)12.2 (3)12.2 (.)12.2 (3)12.2 (1)12.2 ( million)12.2 ( was)12.2 ( incurred)12.2 ( for)12.2 ( acquisition)12.2 ( of)12.2 ( equipment)12.2 ( and)22 ( )]TJ
0.025 Tc 0.069 Tw 0 -1.231 Td
(facilities, as well as construction of ancillary facilities, and Rmb1,70\3.92 million was )Tj
0 Tw 0 -1.231 Td
(incurred for construction projects of expressways.)Tj
0.026 Tc 0.082 Tw 0 -2.462 Td
[(As)1 ( )0.5 (at)1 ( )0.6 (December)1.1 ( )0.5 (3)1 (1)1 (,)1 ( )0.5 (2)1 (0)1 (2)1 (5)1 (,)1 ( )0.5 (the)1 ( )0.5 (capital)1 ( )0.5 (expenditure)1 ( )0.6 (committed)1 ( )0.5 (by)1 ( )0.5 (the)1 ( )0.5 (Group)1 ( )0.5 (amounted)1 ( )]TJ
0.039 Tc 0.07 Tw 0 -1.231 Td
[(to)12.8 ( Rmb)12.9 (4)12.8 (,)12.9 (9)12.9 (5)12.8 (2)12.9 (.)12.9 (5)12.8 (0)12.9 ( million)12.9 ( in)12.9 ( total.)12.8 ( Amongst)12.9 ( the)12.8 ( capital)12.9 ( expenditure)12.9 ( committed)12.9 ( by)12.9 ( the)14.1 ( )]TJ
0.025 Tc 0.068 Tw 0 -1.231 Td
(Group, Rmb226.00 million will be used for acquiring equity investments, \Rmb162.89 )Tj
0.056 Tc 0.07 Tw 0 -1.231 Td
[(million)12.8 ( will)12.8 ( be)12.8 ( used)12.8 ( for)12.8 ( acquisition)12.8 ( and)12.8 ( construction)12.8 ( of)12.7 ( properties,)12.8 ( Rmb)12.9 (1)12.7 (,)12.8 (7)12.8 (4)12.8 (0)12.8 (.)12.8 (6)12.8 (1)31 ( )]TJ
0.025 Tc 0.047 Tw 0 -1.231 Td
(million for acquisition of equipment and facilities, as well as construc\tion of ancillary )Tj
0.048 Tc 0.07 Tw 0 -1.231 Td
[(facilities,)12.5 ( and)12.4 ( Rmb)12.5 (2)12.4 (,)12.5 (8)12.4 (2)12.5 (3)12.5 (.)12.4 (0)12.5 (0)12.4 ( million)12.5 ( for)12.4 ( expressways)12.5 ( reconstruction)12.4 ( and)12.5 ( expansion)23 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(projects.)Tj
0.055 Tc 0.07 Tw 0 -2.462 Td
[(The)12.3 ( Group)12.3 ( will)12.3 ( first)12.2 ( consider)12.3 ( financing)12.3 ( the)12.3 ( above-mentioned)12.3 ( capital)12.3 ( expenditure)30 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.231 Td
[(commitments)11 ( )0.5 (with)11 ( )0.5 (internal)11 ( )0.5 (resources,)11 ( )0.5 (and)11 ( )0.5 (then)11 ( )0.5 (will)11 ( )0.5 (comprehensively)11 ( )0.5 (consider)11.1 ( )0.5 (using)11 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(debt financing and equity financing to meet any shortfalls.)Tj
ET

endstreamendobj57 0 obj<</Length 8754>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 33 \226)Tj
0.045 Tw 13 0 0 13 56.6929 776.0055 Tm
(The amount of financial assets at FVTPL included in current assets of th\e Group as at )Tj
0.028 Tc 0.083 Tw 0 -1.231 Td
[(D)-12.5 (e)-12.5 (c)-12.6 (e)-12.5 (m)-12.5 (b)-12.6 (e)-12.5 (r 31, )0.5 (2025 w)-12.5 (a)-12.5 (s )0.5 (R)-12.5 (m)-12.6 (b49,832.10 m)-12.5 (i)-12.6 (l)-12.5 (l)-12.5 (i)-12.6 (o)-12.5 (n \()-12.5 (D)-12.5 (e)-12.5 (c)-12.6 (e)-12.5 (m)-12.5 (b)-12.6 (e)-12.5 (r 31, )0.5 (2024: )0.5 (R)-12.6 (m)-12.5 (b35,536.63)3 ( )]TJ
0.025 Tc 0.042 Tw 0 -1.231 Td
(million\), of which 49.3% was invested in bonds, 12.9% was invested in s\tocks, 19.5% )Tj
0.024 Tc 0 Tw 0 -1.231 Td
[(was invested in equity funds, and the rest were invested in structured p\roducts and trust)-1 ( )]TJ
0.025 Tc 0 -1.231 Td
(products, etc.)Tj
0.069 Tc 0.07 Tw 0 -2.462 Td
[(During)12.9 ( the)12.8 ( Period,)12.9 ( net)12.9 ( cash)12.8 ( from)12.8 ( the)12.9 ( Group\222s)12.8 ( operating)12.9 ( activities)12.9 ( amounted)12.9 ( to)44 ( )]TJ
0.029 Tc 0.079 Tw 0 -1.231 Td
[(R)0.5 (m)0.6 (b)4 (4)4 (,)4 (2)4 (0)4 (3)4 (.)4 (4)4 (8)4 ( )0.5 (m)0.6 (i)0.5 (l)0.5 (l)0.6 (i)0.5 (o)0.5 (n)0.6 (.)4 ( )0.5 (T)0.5 (h)0.6 (e)4 ( )0.5 (c)0.5 (u)0.6 (r)0.5 (r)0.5 (e)0.6 (n)0.5 (c)0.6 (y)4 ( )0.5 (m)0.5 (i)0.5 (x)4 ( )0.6 (i)0.5 (n)4 ( )0.5 (w)0.5 (h)0.6 (i)0.5 (c)0.6 (h)3.9 ( )0.6 (c)0.5 (a)0.6 (s)0.5 (h)4 ( )0.5 (a)0.6 (n)0.5 (d)4 ( )0.5 (c)0.5 (a)0.6 (s)0.5 (h)4 ( )0.5 (e)0.6 (q)0.5 (u)0.6 (i)0.5 (v)0.5 (a)0.6 (l)0.5 (e)0.6 (n)0.5 (t)0.5 (s)4 ( )0.5 (a)0.6 (r)0.5 (e)4 ( )0.5 (h)0.6 (e)0.5 (l)0.5 (d)4.1 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(has not substantially changed as compared to the same period last year.)Tj
0.031 Tc 0.077 Tw 0 -2.462 Td
[(The)6.1 ( )0.5 (Directors)6 ( )0.5 (do)6 ( )0.5 (not)6 ( )0.5 (expect)6 ( )0.5 (the)6 ( )0.5 (Company)6 ( )0.5 (to)6.1 ( )0.5 (experience)6 ( )0.5 (any)6 ( )0.5 (problems)6.1 ( )0.5 (with)6.1 ( )0.5 (liquidity)6 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(and financial resources in the foreseeable future.)Tj
/T1_1 1 Tf
0 -2.462 Td
(Borrowings and Solvency)Tj
/T1_0 1 Tf
0.034 Tc 0.074 Tw 0 -2.462 Td
[(As)9.1 ( )0.5 (at)9 ( )0.5 (December)9 ( )0.5 (3)9 (1)9 (,)9 ( )0.5 (2)9 (0)9 (2)9 (5)9 (,)8.9 ( )0.5 (total)9 ( )0.5 (liabilities)9 ( )0.5 (of)9 ( )0.5 (the)9 ( )0.5 (Group)9.1 ( )0.5 (amounted)9 ( )0.5 (to)9 ( )0.5 (Rmb)9 (2)9 (0)9 (0)9 (,)9 (3)9 (6)9 (3)8.9 (.)9.1 (5)8.9 (8)9 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.231 Td
[(million)11 ( )0.5 (\(December)11.1 ( )0.5 (3)11 (1)10.9 (,)11 ( )0.6 (2)10.9 (0)11 (2)11 (4)11 (:)11 ( )0.5 (Rmb)11 (1)11 (4)11 (3)11 (,)11 (4)11 (8)11 (4)11 (.)11 (0)11 (0)11 ( )0.5 (million\),)11 ( )0.5 (of)11 ( )0.6 (which)11 ( )0.5 (8)11 (.)11 (9)11 (%)11 ( )0.5 (was)11 ( )0.5 (bank)11 ( )0.5 (and)11 ( )]TJ
0.049 Tc 0.07 Tw 0 -1.231 Td
[(other)12.4 ( borrowings,)12.4 ( 6)12.4 (.)12.4 (8)12.3 (%)12.4 ( was)12.4 ( short-term)12.4 ( financing)12.4 ( note,)12.4 ( 2)12.4 (0)12.4 (.)12.4 (1)12.4 (%)12.4 ( was)12.4 ( bonds)12.4 ( payable,)24 ( )]TJ
0.025 Tc 0.038 Tw 0 -1.231 Td
(17.2% was financial assets sold under repurchase agreements and 36.1% wa\s accounts )Tj
0 Tw 0 -1.231 Td
(payable to customers arising from securities business.)Tj
0.053 Tw 0 -2.462 Td
(As at December 31, 2025, total interest-bearing borrowings of the Group \amounted to )Tj
0.039 Tc 0.07 Tw 0 -1.231 Td
[(Rm)0.5 (b)12.9 (7)12.9 (1)13 (,)12.9 (6)12.9 (4)13 (0)12.9 (.)12.9 (7)13 (7)12.9 ( m)0.5 (ill)0.5 (ion)0.5 (,)12.9 ( )0.5 (rep)0.5 (res)0.5 (e)0.5 (ntin)0.5 (g)12.9 ( )0.5 (an)12.9 ( )0.5 (inc)0.5 (re)0.5 (as)0.5 (e)12.9 ( )0.5 (of)12.9 ( )0.5 (2)12.9 (9)12.9 (.)13 (6)12.9 (%)12.9 ( )0.5 (co)0.5 (mpa)0.5 (re)0.5 (d)12.9 ( w)0.5 (it)0.5 (h)12.9 ( D)0.5 (ec)0.5 (em)0.5 (ber)14 ( )]TJ
0.031 Tc 0.082 Tw 0 -1.231 Td
(31, 2024)Tj
-0.031 Tw (. )Tj
0.043 Tc 0.07 Tw 4.472 0 Td
[(The)12.4 ( borrowings)12.4 ( comprised)12.3 ( outstanding)12.4 ( balances)12.4 ( of)12.3 ( domestic)12.3 ( commercial)18 ( )]TJ
0.051 Tc -4.472 -1.231 Td
[(bank)12.3 ( loans)12.3 ( of)12.4 ( Rmb)12.4 (1)12.4 (5)12.4 (,)12.3 (6)12.4 (2)12.4 (7)12.4 (.)12.4 (0)12.3 (3)12.4 ( million,)12.3 ( borrowings)12.4 ( from)12.4 ( overseas)12.4 ( commercial)12.4 ( bank)26 ( )]TJ
0.05 Tc 0 -1.231 Td
[(loans)12.2 ( of)12.2 ( Rmb)12.2 (6)12.2 (3)12.2 (.)12.2 (3)12.2 (3)12.2 ( million,)12.2 ( borrowings)12.2 ( from)12.2 ( other)12.2 ( domestic)12.2 ( financial)12.2 ( institutions)25 ( )]TJ
0.06 Tc 0 -1.231 Td
[(of)12.8 ( Rmb)12.8 (5)12.8 (4)12.9 (5)12.8 (.)12.8 (4)12.8 (3)12.8 ( million,)12.8 ( borrowings)12.8 ( from)12.8 ( other)12.8 ( domestic)12.8 ( entities)12.8 ( of)12.9 ( Rmb)12.8 (1)12.9 (,)12.8 (6)12.8 (0)12.8 (1)12.8 (.)12.8 (2)12.8 (1)35 ( )]TJ
0.046 Tc 0 -1.231 Td
[(million,)12.6 ( short-term)12.6 ( financing)12.6 ( notes)12.6 ( of)12.6 ( Rmb)12.6 (8)12.5 (,)12.6 (7)12.6 (5)12.6 (4)12.5 (.)12.6 (7)12.6 (5)12.5 ( million,)12.6 ( beneficial)12.6 ( certificates)21.1 ( )]TJ
0 -1.231 Td
[(of)12.2 ( Rmb)12.3 (4)12.2 (,)12.3 (8)12.3 (3)12.2 (0)12.3 (.)12.3 (4)12.3 (6)12.2 ( million,)12.3 ( long-term)12.2 ( beneficial)12.3 ( certificates)12.3 ( of)12.3 ( Rmb)12.3 (5)12.3 (,)12.2 (5)12.3 (3)12.3 (6)12.2 (.)12.3 (8)12.3 (2)12.3 ( million,)21 ( )]TJ
0.045 Tc 0 -1.231 Td
[(subordinated)12.7 ( bonds)12.7 ( of)12.8 ( Rmb)12.7 (6)12.8 (,)12.7 (2)12.7 (4)12.7 (2)12.7 (.)12.7 (5)12.7 (3)12.8 ( million)12.7 ( and)12.7 ( corporate)12.7 ( bonds)12.8 ( of)12.7 ( Rmb)12.7 (2)12.7 (8)12.7 (,)12.7 (4)12.7 (3)12.7 (9)12.8 (.)12.7 (2)12.7 (1)20 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(million. Of the interest-bearing borrowings, 50.8% was not payable withi\n one year.)Tj
0.031 Tc 0.077 Tw 0 -2.462 Td
[(A)0.5 (s)6 ( )0.5 (o)0.5 (f)6 ( )0.5 (D)0.5 (e)0.5 (c)0.5 (e)0.5 (m)0.5 (b)0.5 (e)0.5 (r)6 ( )0.5 (3)6.1 (1)6 (,)6 ( )0.5 (2)6 (0)6 (2)6 (5)6 (,)6 ( )0.5 (t)0.5 (h)0.5 (e)6 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)0.5 (\222)0.5 (s)6 ( )0.5 (b)0.5 (o)0.5 (r)0.5 (r)0.5 (o)0.5 (w)0.5 (in)0.5 (g)0.5 (s)6 ( )0.5 (f)0.5 (r)0.5 (o)0.5 (m)6 ( )0.5 (d)0.5 (o)0.5 (m)0.5 (e)0.5 (s)0.5 (t)0.5 (i)0.5 (c)6 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (m)0.5 (e)0.5 (r)0.5 (c)0.5 (i)0.5 (a)0.5 (l)6 ( )0.5 (b)0.5 (a)0.5 (n)0.5 (k)0.5 (s)6 ( )]TJ
0.026 Tc 0.082 Tw 0 -1.231 Td
[(bore)1 ( )0.6 (annual)1 ( )0.5 (fixed)1 ( )0.5 (interest)1 ( )0.5 (rates)1 ( )0.5 (ranged)1 ( )0.5 (from)1 ( )0.5 (2)1 (.)1 (6)1 (0)1 (%)1 ( )0.5 (to)1 ( )0.5 (3)1 (.)1 (2)1 (5)1 (%,)1 ( )0.5 (annual)1 ( )0.5 (floating)1 ( )0.5 (interest)0.9 ( )]TJ
0.06 Tc 0.07 Tw 0 -1.231 Td
[(rates)12.3 ( ranged)12.2 ( from)12.2 ( 2)12.2 (.)12.2 (1)12.2 (1)12.2 (%)12.2 ( to)12.2 ( 2)12.2 (.)12.2 (9)12.2 (5)12.2 (%,)12.2 ( while)12.2 ( overseas)12.2 ( commercial)12.2 ( bank)12.2 ( borrowings)35 ( )]TJ
0.025 Tc 0.003 Tw 0 -1.231 Td
(carried a fixed annual interest rate of 5.72%. Borrowings from other dom\estic financial )Tj
0.055 Tc 0.07 Tw 0 -1.231 Td
[(institutions)12.8 ( carried)12.8 ( fixed)12.8 ( annual)12.8 ( interest)12.8 ( rates)12.9 ( ranging)12.8 ( from)12.8 ( 2)12.9 (.)12.8 (5)12.8 (0)12.8 (%)12.8 ( to)12.8 ( 2)12.8 (.)12.8 (7)12.8 (7)12.8 (%,)12.8 ( and)30 ( )]TJ
0.025 Tc 0.029 Tw 0 -1.231 Td
[(borrowings from )0.5 (other )0.5 (domestic entities )0.5 (carried )0.5 (floating annual )0.5 (interest )0.5 (rates )0.5 (of 2.45% )]TJ
0.045 Tc 0.07 Tw 0 -1.231 Td
[(and)12.2 ( 2)12.2 (.)12.2 (5)12.2 (0)12.2 (%.)12.2 ( As)12.3 ( of)12.2 ( December)12.2 ( 3)12.2 (1)12.2 (,)12.2 ( 2)12.2 (0)12.2 (2)12.2 (5)12.2 (,)12.2 ( the)12.2 ( beneficial)12.2 ( certificates)12.2 ( bore)12.2 ( annual)12.2 ( fixed)20 ( )]TJ
0.025 Tc 0.083 Tw 0 -1.231 Td
[(interest )0.5 (rates )0.5 (ranged )0.5 (from )0.5 (1.83% )0.5 (to )0.5 (2.30%, )0.5 (annual )0.5 (floating interest )0.5 (rates )0.5 (ranged )0.5 (from )]TJ
0.042 Tc 0.07 Tw 0 -1.231 Td
[(1)12.3 (.)12.4 (6)12.4 (0)12.3 (%)12.4 ( to)12.3 ( 8)12.3 (.)12.4 (3)12.3 (0)12.4 (%,)12.3 ( while)12.4 ( the)12.4 ( annual)12.4 ( fixed)12.3 ( interest)12.3 ( rate)12.4 ( for)12.4 ( short-term)12.3 ( financing)12.4 ( notes)17.1 ( )]TJ
0.035 Tc 0.073 Tw 0 -1.231 Td
[(ranged)10 ( )0.5 (from)10 ( )0.5 (1)10 (.)10 (6)10 (7)10 (%)10 ( )0.5 (to)10.1 ( )0.5 (1)10 (.)10 (7)10 (5)10 (%,)10 ( )0.5 (the)10 ( )0.5 (long-term)10.1 ( )0.5 (beneficial)10 ( )0.5 (certificates)10 ( )0.5 (bore)10 ( )0.5 (annual)10 ( )0.5 (fixed)10 ( )]TJ
0.025 Tc 0.083 Tw 0 -1.231 Td
[(interest )0.5 (rates )0.5 (ranged )0.5 (from )0.5 (1.96% )0.5 (to )0.5 (2.60%, )0.5 (annual )0.5 (floating interest )0.5 (rates )0.5 (ranged )0.5 (from )]TJ
0.041 Tw 0 -1.231 Td
(3.75% to 8.30%, while the annual fixed interest rates for corporate bond\s ranged from )Tj
0.024 Tc 0 Tw 0 -1.231 Td
[(1.64% to 3.49%, and the annual fixed interest rates for subordinated bon\ds ranged from)-1 ( )]TJ
0.025 Tc 0 -1.231 Td
(2.28% to 4.07%)Tj
0 Tc (.)Tj
ET

endstreamendobj56 0 obj<</Length 4918>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 32 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 776.409 Tm
(FINANCIAL ANALYSIS)Tj
/T1_0 1 Tf
0.049 Tc 0.07 Tw 0 -2.462 Td
[(The)12.3 ( Group)12.2 ( adopts)12.3 ( a)12.3 ( prudent)12.2 ( financial)12.3 ( policy)12.2 ( to)12.3 ( achieve)12.2 ( its)12.2 ( long-term)12.3 ( objective)12.3 ( of)24 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(delivering quality returns to shareholders.)Tj
0.045 Tc 0.07 Tw 0 -2.462 Td
[(During)12.9 ( the)12.9 ( Period,)12.8 ( profit)12.8 ( attributable)12.8 ( to)12.9 ( owners)12.8 ( of)12.9 ( the)12.9 ( Company)12.8 ( was)12.8 ( Rmb)12.8 (5)12.9 (,)12.8 (3)12.8 (2)12.9 (4)12.8 (.)12.9 (9)12.8 (6)20 ( )]TJ
0.038 Tc 0 -1.231 Td
[(million,)12.7 ( representing)12.7 ( a)12.7 ( decrease)12.8 ( of)12.8 ( 3)12.8 (.)12.7 (2)12.8 (%)12.7 ( year-on-year,)12.8 ( basic)12.7 ( earnings)12.7 ( per)12.7 ( share)12.7 ( was)13 ( )]TJ
0 -1.231 Td
[(Rmb)12.9 (8)12.9 (8)12.8 (.)12.9 (6)12.9 (2)12.9 ( cents,)12.9 ( representing)12.9 ( a)12.8 ( decrease)12.9 ( of)12.9 ( 3)12.9 (.)12.9 (5)12.8 (%)12.9 ( year-on-year,)12.8 ( diluted)12.9 ( earnings)12.8 ( per)13 ( )]TJ
0.031 Tc 0.077 Tw 0 -1.231 Td
[(share)6 ( )0.5 (was)6 ( )0.5 (Rmb)6 (8)6 (8)6.1 (.)6 (6)6 (2)6 ( )0.5 (cents)0.5 (,)6 ( )0.5 (repr)0.5 (esenting)6 ( )0.5 (a)6 ( )0.6 (de)0.5 (cre)0.5 (ase)6 ( )0.5 (of)6 ( )0.5 (2)6 (.)6 (1)6 (%)6 ( )0.5 (year-on-year,)6 ( )0.5 (and)6 ( )0.5 (return)6 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(on equity was 11.0%, representing a decrease of 7.6% year-on-year.)Tj
/T1_1 1 Tf
0 -2.462 Td
(Liquidity and Financial Resources)Tj
/T1_0 1 Tf
0.042 Tc 0.07 Tw 0 -2.462 Td
[(A)0.5 (s)13.1 ( )0.5 (a)0.5 (t)13 ( )0.6 (D)0.5 (e)0.5 (c)0.5 (e)0.6 (m)0.5 (b)0.5 (e)0.6 (r)13 ( )0.5 (3)13 (1)13 (,)13.1 ( )0.5 (2)13 (0)13 (2)13 (5)13 (,)13.1 ( )0.5 (c)0.5 (u)0.5 (r)0.6 (r)0.5 (e)0.5 (n)0.5 (t)13 ( )0.6 (a)0.5 (s)0.5 (s)0.6 (e)0.5 (t)0.5 (s)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (t)0.6 (h)0.5 (e)13 ( )0.5 (G)0.6 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.6 (a)0.5 (m)0.5 (o)0.5 (u)0.5 (n)0.6 (t)0.5 (e)0.5 (d)13 ( )0.5 (t)0.6 (o)13 ( )0.5 (R)0.5 (m)0.6 (b)13 (2)13 (1)13 (4)13 (,)13 (4)13 (9)13.1 (2)13 (.)13 (2)13 (3)17 ( )]TJ
0.065 Tc 0 -1.231 Td
[(million)12.5 ( \(December)12.5 ( 3)12.6 (1)12.5 (,)12.5 ( 2)12.5 (0)12.5 (2)12.5 (4)12.6 (:)12.5 ( Rmb)12.6 (1)12.5 (4)12.5 (5)12.5 (,)12.5 (9)12.5 (2)12.5 (4)12.6 (.)12.5 (3)12.5 (0)12.5 ( million\),)12.5 ( of)12.5 ( which)12.5 ( bank)12.5 ( balances,)40 ( )]TJ
0.055 Tc 0 -1.231 Td
[(settlement)12.9 ( reserves,)12.8 ( deposits)12.8 ( and)12.8 ( cash)12.8 ( accounted)12.9 ( for)12.9 ( 1)12.8 (5)12.8 (.)12.8 (9)12.9 (%)12.8 ( \(December)12.8 ( 3)12.8 (1)12.9 (,)12.8 ( 2)12.8 (0)12.8 (2)12.9 (4)12.8 (:)30 ( )]TJ
0.071 Tc 0 -1.231 Td
[(1)12.5 (6)12.5 (.)12.6 (0)12.5 (%\),)12.6 ( client)12.6 ( bank)12.6 ( balances)12.5 ( and)12.5 ( settlement)12.5 ( reserves)12.5 ( held)12.5 ( on)12.5 ( behalf)12.5 ( of)12.6 ( clients)46 ( )]TJ
0.025 Tc 0.063 Tw 0 -1.231 Td
(represented 34.0% \(December 31, 2024: 33.6%\), financial assets at fair\ value through )Tj
0.05 Tc 0.07 Tw 0 -1.231 Td
[(profit)12.2 ( or)12.2 ( loss)12.3 ( constituted)12.2 ( 2)12.3 (3)12.2 (.)12.2 (2)12.3 (%)12.2 ( \(December)12.2 ( 3)12.2 (1)12.2 (,)12.2 ( 2)12.2 (0)12.3 (2)12.2 (4)12.2 (:)12.2 ( 2)12.2 (4)12.2 (.)12.3 (4)12.2 (%\),)12.2 ( and)12.3 ( customer)12.3 ( loans)25 ( )]TJ
0.062 Tc 0 -1.231 Td
[(arising)12.4 ( from)12.4 ( margin)12.5 ( financing)12.4 ( and)12.4 ( securities)12.4 ( lending)12.5 ( business)12.5 ( comprised)12.4 ( 1)12.4 (8)12.5 (.)12.4 (2)12.5 (%)36.9 ( )]TJ
0.025 Tc 0.059 Tw 0 -1.231 Td
(\(December 31, 2024: 16.6%\). The current ratio \(current assets over cu\rrent liabilities\) )Tj
0.022 Tw 0 -1.231 Td
[(of )0.5 (the )0.5 (Group )0.5 (as )0.6 (at )0.5 (December )0.5 (31, )0.5 (2025 )0.5 (was )0.5 (1.30)]TJ
0 Tc 0.047 Tw [( )0.5 (\()]TJ
0.025 Tc 0.022 Tw 21.052 0 Td
[(December )0.5 (31, )0.5 (2024: )0.5 (1.30\). )0.5 (Excluding )]TJ
0.032 Tc 0.076 Tw -21.052 -1.231 Td
[(the)7 ( )0.5 (effect)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.5 (customer)7 ( )0.5 (deposits)7 ( )0.5 (arising)6.9 ( )0.6 (from)7 ( )0.5 (the)7 ( )0.5 (securities)7 ( )0.5 (business,)7 ( )0.5 (the)7 ( )0.5 (resultant)7 ( )]TJ
0.034 Tc 0.074 Tw 0 -1.231 Td
[(current)9 ( )0.5 (ratio)8.9 ( )0.5 (of)9 ( )0.5 (the)9 ( )0.5 (Group)9 ( )0.5 (\(current)9 ( )0.5 (assets)9 ( )0.5 (less)9 ( )0.5 (bank)9 ( )0.5 (balances)9 ( )0.6 (and)9 ( clearing)9 ( )0.5 (settlement)9 ( )]TJ
0.052 Tc 0.07 Tw 0 -1.231 Td
[(fund)12.4 ( held)12.4 ( on)12.5 ( behalf)12.4 ( of)12.4 ( customers)12.4 ( over)12.4 ( current)12.4 ( liabilities)12.4 ( less)12.4 ( balance)12.4 ( of)12.4 ( accounts)27 ( )]TJ
0.025 Tc 0.081 Tw 0 -1.231 Td
[(payable )0.5 (to customers )0.5 (arising from securities business\) )0.5 (was )0.5 (1.60)]TJ
0 Tc 0.106 Tw [( )0.5 (\()]TJ
0.025 Tc 0.081 Tw 28.345 0 Td
[(December )0.5 (31, 2024: )]TJ
-0.025 Tw -28.345 -1.231 Td
(1.60\).)Tj
ET

endstreamendobj52 0 obj<</Length 5012>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 31 \226)Tj
/T1_1 1 Tf
0.362 Tw 13 0 3.4833 13 55.3588 776.409 Tm
[(\(II\) )0.5 (Financial )]TJ
-0.025 Tw 6.681 0 Td
(Segment)Tj
/T1_0 1 Tf
0.048 Tw 13 0 0 13 85.0394 744.409 Tm
[(Zhejiang )0.5 (Communications )0.5 (Investment )0.5 (Group )0.5 (Finance )0.6 (Co., )0.5 (Ltd. )0.5 (\(a )0.5 (20.08% )0.5 (owned )]TJ
0.048 Tc 0.07 Tw 0 -1.231 Td
[(associate)12.4 ( of)12.4 ( the)12.3 ( Company\))12.4 ( derived)12.3 ( income)12.4 ( mainly)12.4 ( from)12.4 ( interest)12.4 ( income,)12.4 ( fees)23 ( )]TJ
0.027 Tc 0.081 Tw 0 -1.231 Td
[(a)0.5 (n)0.5 (d)2 ( )0.5 (c)0.6 (o)0.5 (m)0.5 (m)0.5 (i)0.5 (s)0.5 (s)0.5 (i)0.6 (o)0.5 (n)0.5 (s)2 ( )0.5 (f)0.5 (o)0.5 (r)2 ( )0.5 (p)0.5 (r)0.5 (o)0.6 (v)0.5 (i)0.5 (d)0.5 (i)0.5 (n)0.5 (g)2 ( )0.5 (f)0.5 (i)0.5 (n)0.6 (a)0.5 (n)0.5 (c)0.5 (i)0.5 (a)0.6 (l)2 ( s)0.6 (e)0.5 (r)0.5 (v)0.5 (i)0.5 (c)0.6 (e)0.5 (s)0.5 (,)2 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (l)0.5 (u)0.5 (d)0.5 (i)0.5 (n)0.5 (g)2 ( )0.5 (a)0.5 (r)0.6 (r)0.5 (a)0.5 (n)0.5 (g)0.5 (i)0.5 (n)0.6 (g)2 ( l)0.6 (o)0.5 (a)0.5 (n)0.5 (s)2 ( )0.5 (a)0.5 (n)0.5 (d)2 ( )]TJ
0.025 Tc 0.012 Tw 0 -1.231 Td
(receiving deposits, for )Tj
(Zhejiang Communications Investment Group Co., Ltd.)Tj
(, the )Tj
0.026 Tc 0.082 Tw 0 -1.231 Td
[(controlling)1 ( )0.5 (shareholder)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (Company,)1 ( )0.5 (and)1 ( )0.5 (its)1 ( )0.5 (subsidiaries.)1 ( )0.5 (During)1 ( )0.5 (the)1 ( )0.5 (Period,)1 ( )]TJ
0.057 Tc 0.07 Tw 0 -1.231 Td
[(the)12.8 ( associate)12.8 ( recorded)12.8 ( a)12.8 ( net)12.8 ( profit)12.8 ( of)12.8 ( Rmb)12.8 (4)12.8 (4)12.8 (0)12.8 (.)12.8 (8)12.8 (9)12.7 ( million)12.8 ( \()12.8 (2)12.7 (0)12.8 (2)12.8 (4)12.8 (:)12.8 ( Rmb)12.8 (3)12.8 (9)12.7 (5)12.8 (.)12.8 (2)12.8 (4)32 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(million\).)Tj
0.042 Tc 0.07 Tw 0 -2.462 Td
[(Yangtze)12.2 ( United)12.3 ( Financial)12.2 ( Leasing)12.2 ( Co.,)12.2 ( Ltd.)12.3 ( \(a)12.3 ( 1)12.2 (0)12.2 (.)12.2 (6)12.2 (1)12.3 (%)12.2 ( owned)12.2 ( associate)12.2 ( of)12.2 ( the)17 ( )]TJ
0.025 Tc 0.059 Tw 0 -1.231 Td
(Company\) is primarily engaged in the financial leasing business, the tr\ansferring )Tj
0.057 Tw 0 -1.231 Td
[(and )0.5 (receiving )0.5 (of )0.5 (financial )0.6 (leasing )0.5 (assets, )0.5 (fixed-income )0.5 (securities )0.5 (investment, )0.5 (and )]TJ
0.028 Tc 0.08 Tw 0 -1.231 Td
[(other)3 ( )0.6 (businesses)3 ( )0.5 (approved)3 ( )0.5 (by)3 ( )0.5 (the)3 ( )0.5 (National)3 ( )0.5 (Financial)3 ( )0.5 (Regulatory)3 ( )0.5 (Administration.)3 ( )]TJ
0.021 Tc 0 Tw 0 -1.231 Td
[(During the Period, the associate recorded a net profit of Rmb705.24 mill\ion \(2024:)-4 ( )]TJ
0.025 Tc 0 -1.231 Td
(Rmb687.27 million\).)Tj
0.05 Tc 0.07 Tw 0 -2.462 Td
[(Shanghai)12.3 ( Rural)12.4 ( Commercial)12.4 ( Bank)12.3 ( Co.,)12.4 ( Ltd.)12.3 ( \(a)12.4 ( 4)12.4 (.)12.3 (9)12.4 (6)12.4 (%)12.4 ( owned)12.4 ( associate)12.4 ( of)12.3 ( the)25.1 ( )]TJ
0.038 Tc 0 -1.231 Td
[(Company\))12.5 ( is)12.4 ( primarily)12.4 ( engaged)12.4 ( in)12.4 ( the)12.5 ( commercial)12.5 ( banking)12.4 ( business,)12.4 ( including)13 ( )]TJ
0.024 Tc 0 Tw 0 -1.231 Td
[(deposits, short-, medium-, and long-term loans, domestic and overseas se\ttlements)-1 ( )]TJ
0.052 Tc 0.07 Tw 0 -1.231 Td
[(and)12.9 ( othe)0.5 (r)12.9 ( business)0.5 (es)12.9 ( that)12.9 ( a)0.5 (re)12.9 ( approve)0.5 (d)12.9 ( by)12.9 ( the)12.9 ( Na)0.5 (tional)12.9 ( Financ)0.5 (ial)12.9 ( Regula)0.5 (to)0.5 (ry)27 ( )]TJ
0.041 Tc 0 -1.231 Td
[(Administration.)12.6 ( As)12.7 ( at)12.6 ( the)12.7 ( date)12.6 ( of)12.7 ( this)12.6 ( announcement,)12.6 ( the)12.7 ( associate)12.7 ( has)12.7 ( not)12.6 ( yet)16 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(released its audited financial data for the year 2025.)Tj
0.027 Tc 0.081 Tw 0 -2.462 Td
[(Zhejiang)2 ( )0.5 (Zheshang)2 ( )0.5 (Transform)2 ( )0.5 (and)2 ( Upgrade)2 ( )0.5 (Fund)2 ( )0.5 (of)2 ( )0.5 (Funds)2 ( Partnership)1.9 ( )0.5 (\(Limited)2 ( )]TJ
0.039 Tc 0.07 Tw 0 -1.231 Td
[(Pa)0.5 (rt)0.5 (ne)0.5 (rsh)0.5 (ip)0.5 (\))12.9 ( \()0.5 (a)12.9 ( )0.5 (2)12.9 (4)13 (.)12.9 (9)12.9 (9)13 (%)12.9 ( )0.5 (ow)0.5 (ned)13 ( a)0.5 (ss)0.5 (oci)0.5 (at)0.5 (e)12.9 ( )0.5 (of)13 ( th)0.5 (e)12.9 ( )0.5 (Com)0.5 (pa)0.5 (ny\))13 ( i)0.5 (s)12.9 ( )0.5 (pri)0.5 (ma)0.5 (ri)0.5 (ly)12.9 ( )0.5 (en)0.5 (ga)0.5 (ged)14 ( )]TJ
0.055 Tc 0 -1.231 Td
[(in)12.5 ( equity)12.5 ( investments,)12.5 ( investment)12.5 ( management)12.5 ( and)12.5 ( investment)12.5 ( consultation.)30 ( )]TJ
0.056 Tc 0 -1.231 Td
[(During)12.9 ( the)12.9 ( Period,)12.9 ( the)12.8 ( net)12.9 ( loss)12.9 ( of)12.9 ( the)12.8 ( associate)12.9 ( attributable)12.9 ( to)12.9 ( the)12.9 ( Company)31 ( )]TJ
0.051 Tc 0 -1.231 Td
[(was)12.9 ( Rmb)12.8 (1)12.8 (7)12.8 (.)12.8 (3)12.8 (5)12.9 ( million)12.8 ( \()12.9 (2)12.7 (0)12.9 (2)12.8 (4)12.8 (:)12.8 ( the)12.8 ( net)12.8 ( loss)12.9 ( of)12.8 ( the)12.9 ( associate)12.8 ( attributable)12.9 ( to)12.8 ( the)26 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Company: Rmb19.22 million\).)Tj
ET

endstreamendobj37 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 77 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 19 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20016>>/PageWidthList<</0 595.276>>>>>>>>endobj38 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 80 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 19 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20357>>/PageWidthList<</0 595.276>>>>>>>>endobj39 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 81 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 19 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</C0_0 60 0 R/T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20395>>/PageWidthList<</0 595.276>>>>>>>>endobj40 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 82 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 19 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20433>>/PageWidthList<</0 595.276>>>>>>>>endobj41 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 83 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 19 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 20471>>/PageWidthList<</0 595.276>>>>>>>>endobj83 0 obj<</Length 7811>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 30 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 776.3179 Tm
(Long-Term Investments)Tj
0.665 Tw 13 0 3.4833 13 55.3588 744.3179 Tm
[(\(1\) )0.5 (Expressway )]TJ
-0.025 Tw 7.816 0 Td
(Segment)Tj
/T1_0 1 Tf
0.059 Tc 0.07 Tw 13 0 0 13 85.0393 712.3179 Tm
[(Z)0.5 (he)0.5 (j)0.5 (ia)0.5 (n)0.5 (g)13 ( S)0.5 (h)0.5 (a)0.5 (ox)0.5 (in)0.5 (g)13 ( )0.5 (Sh)0.5 (e)0.5 (ng)0.5 (x)0.5 (in)13 ( )0.5 (Ex)0.5 (p)0.5 (r)0.5 (es)0.5 (s)0.5 (w)0.5 (a)0.5 (y)12.9 ( )0.5 (C)0.5 (o.)0.5 (,)13 ( L)0.5 (t)0.5 (d.)13 ( )0.5 (\(\223)]TJ
/T1_1 1 Tf
24.798 0 Td
[(S)0.5 (he)0.5 (n)0.5 (g)0.5 (xi)0.5 (n)13 ( C)0.5 (o)]TJ
/T1_0 1 Tf
0.046 Tc 0.083 Tw 6.119 0 Td
[(\224)-12.5 (, a )0.5 (50%)21 ( )]TJ
0.067 Tc 0.07 Tw -30.917 -1.231 Td
[(owned)12.9 ( joint)12.8 ( venture)12.8 ( of)12.9 ( the)12.9 ( Company\))12.8 ( owns)12.9 ( the)12.9 ( 7)12.9 (3)12.8 (km)12.8 ( Shaoxing)12.8 ( Section)12.8 ( of)42 ( )]TJ
0.038 Tc 0 -1.231 Td
[(Ningbo-Jinhua)12.5 ( Expressway.)12.5 ( During)12.5 ( the)12.6 ( Period,)12.5 ( average)12.5 ( daily)12.5 ( traffic)12.6 ( volume)12.6 ( in)13 ( )]TJ
0.03 Tc 0.078 Tw 0 -1.231 Td
[(full-trip)5 ( )0.5 (equivalents)5 ( )0.5 (was)5 ( )0.5 (3)5 (2)5 (,)5 (9)5 (5)5 (6)5 (,)5 ( )0.5 (representing)5 ( )0.5 (a)5 ( )0.5 (year-on-year)5 ( )0.5 (increase)5 ( )0.5 (of)5 ( )0.5 (6)5 (.)5 (3)5 (0)5 (%,)5 ( )]TJ
0.034 Tc 0.074 Tw 0 -1.231 Td
[(with)9 ( )0.5 (toll)9 ( )0.5 (revenue)9 ( )0.5 (amounting)9 ( )0.5 (to)9 ( )0.5 (Rmb)9 (5)9 (9)9 (2)9 (.)9 (8)9 (2)9 ( )0.5 (million)9 ( )0.5 (\()9 (2)9 (0)9 (2)9 (4)9 (:)9 ( )0.5 (Rmb)9 (5)9 (6)9 (4)9 (.)9 (4)9 (6)9 ( )0.5 (million\).)9 ( )]TJ
0.029 Tc 0.079 Tw 0 -1.231 Td
[(During)4 ( )0.5 (the)4 ( )0.5 (Pe)0.5 (riod,)4 ( )0.5 (the)4 ( )0.5 (joint)4 ( )0.5 (venture)4 ( )0.5 (re)0.5 (corded)4 ( )0.5 (a)4 ( )0.5 (net)4 ( )0.5 (pr)0.5 (ofit)4 ( )0.5 (of)4 ( )0.5 (Rmb)4 (2)4 (2)4 (8)4 (.)4 (8)4 (6)4 ( )0.5 (million)4 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(\(2024: Rmb216.55 million\).)Tj
0.129 Tc 0.07 Tw 0 -2.462 Td
[(Zhejiang)12.9 ( Zhijiang)12.8 ( Communications)12.8 ( Holdings)12.9 ( Co.,)12.9 ( Ltd.)12.9 ( \(\223)]TJ
/T1_1 1 Tf
-0.129 Tw [(Zhijiang)104 ( )]TJ
0.048 Tc 0.07 Tw 0 -1.231 Td
[(Communications)12.5 ( Holdings)]TJ
/T1_0 1 Tf
[(\224,)12.5 ( a)12.6 ( 5)12.5 (0)12.5 (%)12.5 ( owned)12.6 ( joint)12.6 ( venture)12.5 ( of)12.5 ( the)12.5 ( Company\))12.5 ( is)23 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.231 Td
[(primarily)11 ( )0.5 (engaged)11 ( )0.5 (in)11 ( )0.5 (expressway)11 ( )0.5 (investments)11 ( )0.5 (and)11 ( )0.5 (holds)11 ( )0.5 (a)11 ( )0.5 (1)11 (0)11 (0)11 (%)11 ( )0.5 (equity)11 ( )0.5 (interest)11 ( )]TJ
0.062 Tc 0.07 Tw 0 -1.231 Td
[(in)12.1 ( the)12.2 ( 1)12.2 (4)12.2 (5)12.1 (km)12.2 ( Yonglan)12.2 ( Expressway)12.1 ( and)12.2 ( a)12.1 ( 5)12.2 (1)12.1 (%)12.2 ( equity)12.1 ( interest)12.1 ( in)12.1 ( the)12.2 ( 1)12.1 (3)12.2 (5)12.1 (km)37 ( )]TJ
0.025 Tc 0.063 Tw 0 -1.231 Td
(Guisan Expressway. During the Period, the joint venture achieved a net p\rofit of )Tj
0 Tw 0 -1.231 Td
(Rmb67.73 million \(2024: Rmb44.94 million\).)Tj
0.075 Tc 0.07 Tw 0 -2.462 Td
[(Zhejiang)12.3 ( HangNing)12.3 ( Expressway)12.3 ( Co.,)12.3 ( Ltd.)12.3 ( \(a)12.3 ( 3)12.3 (0)12.3 (%)12.3 ( owned)12.3 ( associate)12.3 ( of)12.3 ( the)50 ( )]TJ
0.021 Tc 0 Tw 0 -1.231 Td
[(Company\) owns the 99km HangNing Expressway. During the Period, the asso\ciate)-4 ( )]TJ
0.025 Tc 0 -1.231 Td
(recorded a net profit of Rmb375.84 million \(2024: Rmb523.86 million\).)Tj
0.112 Tc 0.07 Tw 0 -2.462 Td
[(The)12.8 ( Company)12.8 ( held)12.7 ( 3)12.8 (0)12.8 (%)12.8 ( of)12.8 ( the)12.8 ( subordinated)12.8 ( class)12.8 ( of)12.8 ( CICC-Zhejiang)87 ( )]TJ
0.047 Tc 0 -1.231 Td
[(E)0.5 (x)0.5 (pr)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.5 (y)0.5 (-S)0.5 (h)0.5 (e)0.5 (n)0.5 (ji)0.5 (a)0.5 (h)0.5 (u)0.5 (ha)0.5 (n)0.5 (g)13 ( )0.5 (a)0.5 (ss)0.5 (e)0.5 (t)0.5 (-)0.5 (b)0.5 (a)0.5 (c)0.5 (ke)0.5 (d)13 ( )0.5 (s)0.5 (p)0.5 (ec)0.5 (i)0.5 (a)0.5 (l)13 ( )0.5 (pr)0.5 (o)0.5 (g)0.5 (r)0.5 (a)0.5 (m)12.9 ( )0.5 (\()0.5 (t)0.5 (h)0.5 (e)13 ( \223)]TJ
/T1_1 1 Tf
-0.047 Tw 28.71 0 Td
[(A)0.5 (s)0.5 (s)0.5 (et)0.5 (-)0.5 (b)0.5 (a)0.5 (c)0.5 (ke)0.5 (d)22 ( )]TJ
0.025 Tc 0 Tw -28.71 -1.231 Td
[(S)0.5 (p)0.5 (e)0.5 (c)0.5 (i)0.5 (a)0.5 (l)0.5 ( )0.5 (P)0.5 (r)0.5 (o)0.5 (g)0.5 (r)0.5 (a)0.5 (m)0.5 ( )0.5 (\()0.5 (P)0.5 (h)0.5 (a)0.5 (s)0.5 (e)0.5 ( )0.5 (I)0.5 (\))]TJ
/T1_0 1 Tf
11.805 0 Td
[(\224)0.5 (\))0.5 ( )0.5 (w)0.5 (h)0.5 (i)0.5 (c)0.5 (h)0.5 ( )]TJ
-0.025 Tw 3.941 0 Td
[(o)0.5 (w)0.5 (n)0.5 (s)]TJ
0 Tw 2.209 0 Td
[( )0.5 (S)0.5 (h)0.5 (e)0.5 (n)0.5 (j)0.5 (i)0.5 (a)0.5 (h)0.5 (u)0.5 (h)0.5 (a)0.5 (n)0.5 (g)0.5 ( )0.5 (E)0.5 (x)0.5 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.5 (y)0.5 ( )0.5 (w)0.5 (i)0.5 (t)0.5 (h)0.5 ( )0.5 (a)0.5 ( )0.5 (t)0.5 (o)0.5 (t)0.5 (a)0.5 (l )]TJ
0.044 Tc 0.07 Tw -17.956 -1.231 Td
[(length)12.3 ( of)12.2 ( 9)12.2 (3)12.2 (km.)12.3 ( During)12.2 ( the)12.3 ( Period,)12.3 ( the)12.3 ( Asset-Backed)12.2 ( Special)12.2 ( Program)12.3 ( \(Phase)19 ( )]TJ
0.028 Tc 0.08 Tw 0 -1.231 Td
[(I)0.5 (\))3 ( )0.5 (w)0.5 (a)0.5 (s)3 ( )0.5 (r)0.5 (e)0.5 (n)0.5 (e)0.6 (w)0.5 (e)0.5 (d)3 ( )0.5 (u)0.5 (p)0.5 (o)0.5 (n)3 ( )0.5 (ma)0.6 (t)0.5 (ur)0.6 (it)0.5 (y)0.5 (.)3 ( )0.5 (A)0.6 (t)3 ( )0.5 (th)0.5 (e)3.1 ( s)0.6 (a)0.5 (m)0.5 (e)3 ( )0.5 (t)0.5 (i)0.5 (m)0.5 (e)0.5 (,)3 ( )0.5 (t)0.5 (he)3.1 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)3 ( )0.5 (h)0.5 (e)0.5 (l)0.5 (d)3 ( )0.5 (2)3 (0)2.9 (%)3.1 ( )0.5 (o)0.5 (f)3 ( )0.5 (t)0.5 (h)0.5 (e)3 ( )]TJ
0.045 Tc 0.07 Tw 0 -1.231 Td
[(s)0.5 (u)0.5 (b)0.5 (or)0.6 (di)0.5 (n)0.5 (a)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (c)0.5 (l)0.5 (a)0.5 (s)0.5 (s)13 ( )0.5 (of)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (r)0.5 (e)0.5 (n)0.5 (e)0.5 (w)0.5 (e)0.5 (d)13 ( )0.5 (C)0.5 (I)0.5 (CC)0.5 (-)0.5 (Z)0.5 (h)0.5 (e)0.5 (j)0.5 (i)0.5 (a)0.5 (n)0.5 (g)13 ( E)0.5 (x)0.5 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.5 (y)0.5 (-)0.5 (S)0.5 (h)0.5 (e)0.5 (n)0.5 (ji)0.5 (a)0.5 (h)0.5 (u)0.5 (h)0.5 (a)0.5 (n)0.5 (g)20 ( )]TJ
0.024 Tc 0 Tw 0 -1.231 Td
[(a)0.5 (s)0.5 (s)0.6 (e)0.5 (t)0.5 (-)0.5 (b)0.5 (a)0.6 (c)0.5 (k)0.5 (e)0.5 (d)0.5 ( )0.5 (s)0.5 (p)0.6 (e)0.5 (c)0.5 (i)0.5 (a)0.5 (l)0.5 ( )0.6 (p)0.5 (r)0.5 (o)0.5 (g)0.5 (r)0.5 (a)0.6 (m)0.5 ( )0.5 (\()0.5 (P)0.5 (h)0.5 (a)0.5 (s)0.5 (e)0.6 ( )0.5 (I)0.5 (I)0.5 (\))0.5 ( )0.5 (\()0.6 (\223)]TJ
/T1_1 1 Tf
17.952 0 Td
[(A)0.5 (s)0.5 (s)0.6 (e)0.5 (t)0.5 (-)0.5 (b)0.5 (a)0.5 (c)0.6 (k)0.5 (e)0.5 (d)0.5 ( )0.5 (S)0.5 (p)0.5 (e)0.6 (c)0.5 (i)0.5 (a)0.5 (l)0.5 ( )0.5 (P)0.6 (r)0.5 (o)0.5 (g)0.5 (r)0.5 (a)0.5 (m)0.5 ( )0.5 (\()0.6 (P)0.5 (h)0.5 (a)0.5 (s)0.5 (e)-1 ( )]TJ
0.025 Tc -0.025 Tw -17.952 -1.231 Td
(II\))Tj
/T1_0 1 Tf
0.078 Tw (\224\). During the Period, the total investment income from Asset-backed\ Special )Tj
0.032 Tc 0.076 Tw 0 -1.231 Td
[(Program)7 ( )0.5 (\(Phase)7 ( )0.5 (I\))7 ( )0.5 (and)7 ( )0.5 (Asset-backed)7 ( )0.5 (Special)7 ( )0.5 (Program)7 ( )0.5 (\(Phase)7 ( )0.5 (II\))7 ( )0.5 (was)7 ( )0.5 (Rmb)7 (7)7 (9)7 (.)7 (4)7 (8)7 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(million.)Tj
0.031 Tc 0.077 Tw 0 -2.462 Td
[(Zhejiang)6 ( )0.5 (Wenzhou)6 ( )0.5 (YongTaiWen)6 ( )0.5 (Expressway)6 ( )0.5 (Co.,)6 ( )0.5 (Ltd.)6.1 ( )0.5 (\(a)6.1 ( )0.5 (1)6 (5)6 (%)6 ( )0.5 (owned)6 ( )0.5 (associate)6 ( )]TJ
0.025 Tc 0.083 Tw 0 -1.231 Td
[(of the )0.5 (Company\) )0.5 (operates )0.5 (Wenzhou )0.5 (Section )0.5 (of )0.5 (YongTaiWen )0.5 (Expressway )0.5 (with )0.5 (a )]TJ
0.035 Tc 0.073 Tw 0 -1.231 Td
[(total)10 ( )0.5 (length)10 ( )0.5 (of)10 ( )0.5 (1)10 (3)10.1 (9)9.9 (km.)10 ( )0.5 (During)10 ( )0.5 (the)10 ( )0.5 (Period,)10 ( )0.5 (the)10 ( )0.5 (associate)10.1 ( )0.5 (recorded)10 ( )0.5 (a)10 ( )0.5 (net)10 ( )0.5 (profit)10 ( )0.5 (of)10 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Rmb181.18 million \(2024: Rmb231.43 million\).)Tj
ET

endstreamendobj82 0 obj<</Length 5516>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 29 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 776.0055 Tm
(Securities Business)Tj
/T1_0 1 Tf
0.074 Tw 0 -2.462 Td
(In 2025, amid a complex external environment and intensifying industry c\ompetition, )Tj
0.051 Tc 0.07 Tw 0 -1.231 Td
[(China\222s)12 ( capital)12.1 ( market)12.1 ( demonstrated)12.1 ( overall)12 ( stability)12.1 ( with)12.1 ( positive)12 ( trends,)12 ( driven)26 ( )]TJ
0.042 Tc 0 -1.231 Td
[(by)12.6 ( supportive)12.6 ( macroeconomic)12.6 ( policies)12.6 ( and)12.6 ( steady)12.6 ( economic)12.7 ( recovery.)12.6 ( The)12.7 ( A-share)17 ( )]TJ
0.037 Tc 0.071 Tw 0 -1.231 Td
[(m)0.5 (a)0.6 (r)0.6 (k)0.5 (e)0.6 (t)12 ( )0.5 (s)0.5 (a)0.6 (w)12 ( )0.5 (a)0.6 (c)0.5 (t)0.6 (i)0.5 (v)0.6 (e)12 ( )0.5 (t)0.5 (r)0.6 (a)0.5 (d)0.6 (i)0.5 (n)0.6 (g)0.5 (,)12 ( )0.5 (w)0.6 (i)0.5 (t)0.6 (h)12 ( )0.5 (i)0.5 (n)0.6 (v)0.5 (e)0.6 (s)0.5 (t)0.6 (o)0.6 (r)12 ( )0.5 (c)0.5 (o)0.6 (n)0.5 (f)0.6 (i)0.5 (d)0.6 (e)0.5 (n)0.6 (c)0.5 (e)12 ( )0.6 (g)0.5 (r)0.5 (a)0.6 (d)0.6 (u)0.5 (a)0.6 (l)0.5 (l)0.6 (y)11.9 ( )0.5 (r)0.6 (e)0.6 (c)0.5 (o)0.6 (v)0.5 (e)0.6 (r)0.5 (i)0.6 (n)0.5 (g)12 ( )0.5 (a)0.6 (n)0.5 (d)12.1 ( m)0.6 (a)0.5 (j)0.6 (o)0.5 (r)12.1 ( )]TJ
0.027 Tc 0.081 Tw 0 -1.231 Td
[(indices)1.9 ( )0.5 (showing)2 ( steady)2 ( )0.5 (upward)2 ( )0.5 (momentum.)1.9 ( )0.5 (Proactively)2 ( )0.5 (seizing)2.1 ( market)2 ( )0.5 (opportunities,)2 ( )]TJ
0.068 Tc 0.07 Tw 0 -1.231 Td
[(Zheshang)12.6 ( Securities)12.7 ( adhered)12.6 ( to)12.7 ( direction)12.6 ( of)12.6 ( market-oriented,)12.6 ( professional,)12.6 ( and)43 ( )]TJ
0.025 Tc 0.059 Tw 0 -1.231 Td
(differentiated development, continuously deepened reform and innovation,\ focused on )Tj
0.056 Tw 0 -1.231 Td
(enhancing quality and efficiency of operational management, and achieved\ significant )Tj
0.035 Tc 0.073 Tw 0 -1.231 Td
[(growth)10 ( )0.5 (in)9.9 ( )0.5 (annual)10 ( )0.6 (operating)10 ( )0.5 (performance.)10 ( )0.5 (Notably,)10 ( )0.5 (brokerage)10.1 ( )0.5 (business)10 ( )0.5 (and)10 ( )0.5 (securities)10 ( )]TJ
0.047 Tc -0.047 Tw 0 -1.231 Td
[(i)0.5 (nv)0.5 (e)0.5 (s)0.5 (tm)0.5 (e)0.5 (nt)13 ( )]TJ
5.208 0 Td
[(b)0.5 (us)0.5 (i)0.5 (n)0.5 (es)0.5 (s)]TJ
0.07 Tw 3.749 0 Td
[( )0.5 (de)0.5 (l)0.5 (i)0.5 (ve)0.5 (r)0.5 (e)0.5 (d)13 ( o)0.5 (u)0.5 (ts)0.5 (t)0.5 (an)0.5 (d)0.5 (i)0.5 (ng)13 ( )0.5 (pe)0.5 (r)0.5 (f)0.5 (o)0.5 (rm)0.5 (a)0.5 (n)0.5 (ce)0.5 (,)13 ( )0.5 (wh)0.5 (i)0.5 (le)13 ( )0.5 (t)0.5 (he)13 ( )0.5 (a)0.5 (c)0.5 (qu)0.5 (i)0.5 (si)0.5 (t)0.5 (i)0.5 (on)13 ( )0.5 (of)13 ( )0.5 (a)22 ( )]TJ
0.025 Tc 0 Tw -8.957 -1.231 Td
(controlling stake in Guodu Securities Co., Ltd. also contributed )Tj
-0.025 Tw (growth)Tj
0 Tw ( to results.)Tj
0.046 Tc 0.07 Tw 0 -2.462 Td
[(During)12.7 ( the)12.7 ( Period,)12.7 ( Zheshang)12.7 ( Securities)12.8 ( recorded)12.7 ( revenue)12.7 ( of)12.7 ( Rmb)12.7 (7)12.7 (,)12.7 (5)12.7 (5)12.7 (0)12.7 (.)12.8 (6)12.7 (1)12.7 ( million,)21 ( )]TJ
0.03 Tc 0.078 Tw 0 -1.231 Td
[(representing)5 ( )0.5 (a)5.1 ( )0.5 (year-on-year)5 ( )0.5 (increase)5 ( )0.5 (of)5 ( )0.5 (2)5 (2)5 (.)5 (1)5 (%,)5 ( )0.5 (of)5 ( )0.5 (which)5 ( )0.5 (commission)5 ( )0.5 (and)5 ( )0.5 (fee)5 ( )0.5 (income)5 ( )]TJ
0.038 Tc 0.07 Tw 0 -1.231 Td
[(increased)12.3 ( 2)12.3 (5)12.3 (.)12.2 (8)12.3 (%)12.3 ( year-on-year)12.3 ( to)12.3 ( Rmb)12.2 (4)12.3 (,)12.3 (6)12.3 (4)12.3 (3)12.2 (.)12.3 (0)12.3 (0)12.3 ( million;)12.3 ( interest)12.3 ( income)12.3 ( of)12.3 ( securities)13 ( )]TJ
0.042 Tc 0 -1.231 Td
[(business)12.7 ( reached)12.7 ( Rmb)12.7 (2)12.7 (,)12.7 (9)12.7 (0)12.6 (7)12.7 (.)12.7 (6)12.7 (2)12.6 ( million,)12.7 ( a)12.7 ( 1)12.7 (6)12.7 (.)12.7 (8)12.6 (%)12.7 ( increase)12.7 ( year-on-year.)12.6 ( In)12.7 ( addition,)17 ( )]TJ
0.062 Tc 0 -1.231 Td
[(securities)12.2 ( investment)12.2 ( gains)12.2 ( of)12.2 ( Zheshang)12.2 ( Securities)12.2 ( included)12.2 ( in)12.2 ( the)12.2 ( consolidated)37.1 ( )]TJ
0.074 Tc 0 -1.231 Td
[(s)0.5 (t)0.5 (a)0.5 (t)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (f)0.5 (i)0.5 (t)13 ( )0.5 (o)0.5 (r)13 ( )0.5 (l)0.5 (o)0.5 (s)0.5 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (o)0.5 (t)0.5 (h)0.5 (e)0.5 (r)13 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (p)0.5 (r)0.5 (e)0.5 (h)0.5 (e)0.5 (n)0.5 (s)0.5 (i)0.5 (v)0.5 (e)13 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (o)0.5 (m)0.5 (e)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.5 (w)0.5 (a)0.5 (s)49 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Rmb2,819.17 million \(2024: Rmb1,735.12 million\).)Tj
/T1_1 1 Tf
0 -2.462 Td
(Hotel and Catering)Tj
/T1_0 1 Tf
0.06 Tc 0.07 Tw 0 -2.462 Td
[(Zhejiang)12.6 ( Grand)12.6 ( Hotel,)12.6 ( owned)12.6 ( by)12.6 ( Zhejiang)12.6 ( Grand)12.6 ( Hotel)12.6 ( Limited)12.6 ( \(a)12.6 ( 1)12.6 (0)12.6 (0)12.6 (%)12.6 ( owned)35 ( )]TJ
0.045 Tc 0 -1.231 Td
[(subsidiary)12.3 ( of)12.3 ( the)12.2 ( Company\),)12.2 ( recorded)12.2 ( revenue)12.3 ( of)12.3 ( Rmb)12.2 (3)12.3 (9)12.2 (.)12.2 (8)12.3 (2)12.2 ( million)12.3 ( for)12.2 ( the)12.3 ( Period)20 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(\(2024: Rmb42.93 million\).)Tj
0.077 Tw 0 -2.462 Td
(Grand New Century Hotel, owned by Zhejiang Linping Expressway Co., Ltd. \\(a 51% )Tj
0.045 Tc 0.07 Tw 0 -1.231 Td
[(owned)12.3 ( subsidiary)12.3 ( of)12.4 ( the)12.4 ( Company\),)12.4 ( recorded)12.4 ( revenue)12.3 ( of)12.3 ( Rmb)12.4 (6)12.3 (1)12.4 (.)12.3 (8)12.4 (1)12.4 ( million)12.3 ( for)12.4 ( the)20 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Period \(2024: Rmb65.32 million\).)Tj
ET

endstreamendobj81 0 obj<</Length 7925>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 28 \226)Tj
/T1_1 1 Tf
0.032 Tc 0.076 Tw 13 0 0 13 85.0394 776.3179 Tm
[(Solidified)7 ( )0.5 (sustainable)7 ( )0.5 (development)7 ( )0.5 (foundation)7 ( of)7 ( )0.5 (core)7 ( )0.5 (expressway)7 ( )0.5 (business.)]TJ
/T1_0 1 Tf
0 Tc 0 Tw 34.913 0 Td
( )Tj
0.064 Tc 0.07 Tw -34.913 -1.231 Td
[(An)12.4 ( acquisition)12.4 ( of)12.4 ( 5)12.5 (1)12.4 (%)12.5 ( equity)12.5 ( stake)12.5 ( in)12.5 ( the)12.5 ( 1)12.5 (3)12.5 (5)12.4 ( km)12.4 ( Guisan)12.5 ( Expressway)12.5 ( was)39 ( )]TJ
0.024 Tc 0 Tw 0 -1.231 Td
[(c)0.5 (om)0.5 (p)0.5 (le)0.5 (te)0.5 (d)0.5 ( t)0.5 (h)0.5 (ro)0.5 (ug)0.5 (h)0.5 ( a)0.5 ( )0.5 (jo)0.5 (in)0.5 (t)0.5 ( v)0.5 (e)0.5 (nt)0.5 (ur)0.5 (e)0.5 ( )0.5 (in)0.5 (ve)0.5 (s)0.5 (tm)0.5 (e)0.5 (nt)0.5 ( )0.5 (pl)0.5 (a)0.5 (tf)0.5 (or)0.5 (m)0.5 (. )0.5 (G)0.5 (ui)0.5 (s)0.5 (an)0.5 ( E)0.5 (x)0.5 (pr)0.5 (e)0.5 (ss)0.5 (w)0.5 (a)0.5 (y )0.5 (bo)0.5 (a)0.5 (st)0.5 (s)-1 ( )]TJ
0.025 Tc 0.056 Tw 0 -1.231 Td
(a strategic location as one of the primary routes connecting Sichuan, Ch\ongqing, )Tj
0.074 Tw 0 -1.231 Td
(Yunnan and Guizhou regions to the Pearl River Delta. With its abundant n\atural )Tj
0.023 Tc 0 Tw 0 -1.231 Td
[(scenic resources along the route, it also serves as a renowned tourist c\orridor. This)-2 ( )]TJ
0.038 Tc 0.07 Tw 0 -1.231 Td
[(acquisition)12.9 ( further)12.9 ( )]TJ
-0.038 Tw (expanded)Tj
0.07 Tw 12.597 0 Td
[( the)12.9 ( Group\222s)12.9 ( regional)12.9 ( strategic)12.9 ( footprint)12.9 ( following)13 ( )]TJ
0.042 Tc -12.597 -1.231 Td
[(the)12.1 ( acquisition)12.1 ( of)12.2 ( the)12.1 ( 1)12.1 (4)12.2 (5)12.1 ( km)12.1 ( Yonglan)12.2 ( Expressway.)12.2 ( Meanwhile,)12.2 ( the)12.1 ( Company)17 ( )]TJ
0.043 Tc 0 -1.231 Td
[(successfully)12.4 ( won)12.4 ( the)12.4 ( bid)12.4 ( as)12.4 ( an)12.3 ( investor)12.5 ( for)12.3 ( Parallel)12.4 ( Line)12.4 ( of)12.4 ( Ningbo-Zhoushan)18 ( )]TJ
0.04 Tc 0 -1.231 Td
[(Expressway)12.6 ( Phase)12.6 ( II)12.6 ( project,)12.6 ( enhancing)12.6 ( integrated)12.6 ( effects)12.6 ( of)12.6 ( the)12.6 ( regional)12.6 ( road)15 ( )]TJ
0.046 Tc 0 -1.231 Td
[(network.)12.2 ( Steady)12.3 ( progress)12.3 ( was)12.2 ( made)12.3 ( on)12.2 ( reconstruction)12.2 ( and)12.2 ( expansion)12.3 ( projects)21 ( )]TJ
0.063 Tc 0 -1.231 Td
[(including)12.1 ( Jinhua)12.2 ( and)12.1 ( Shaoxing)12.1 ( Sections)12.1 ( of)12.1 ( Ningbo-Jinhua)12.1 ( Expressway)12 ( and)38 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Zhajiasu Expressway, with the overall construction progress reaching 27.\5%.)Tj
/T1_1 1 Tf
0.066 Tc 0.07 Tw 0 -2.462 Td
[(Ac)0.5 (c)0.5 (el)0.5 (er)0.5 (at)0.5 (e)0.5 (d)12.9 ( )0.5 (de)0.5 (ve)0.5 (lo)0.5 (pm)0.5 (en)0.5 (t)12.9 ( )0.5 (of)13 ( \223)0.5 (tr)0.5 (an)0.5 (sp)0.5 (or)0.5 (ta)0.5 (ti)0.5 (on)13 ( +)13 ( e)0.5 (ne)0.5 (r)0.5 (gy\224)13 ( i)0.5 (nt)0.5 (eg)0.5 (r)0.5 (ati)0.5 (on)13 ( a)0.5 (nd)41 ( )]TJ
0.064 Tc 0 -1.231 Td
[(intelligent)12.9 ( expressways.)12.8 ( )]TJ
/T1_0 1 Tf
[(Through)12.9 ( capital)12.9 ( injection,)12.9 ( the)12.9 ( Company)12.9 ( acquired)39 ( )]TJ
0 -1.231 Td
[(an)12.1 ( 1)12.1 (1)12.1 (.)12.1 (6)12.1 (7)12.1 (3)12.1 (3)12.2 (%)12.1 ( equity)12.1 ( stake)12.1 ( in)12.1 ( Zhejiang)12.2 ( Communications)12.1 ( Investment)12.1 ( Carbon)39 ( )]TJ
0.038 Tc 0 -1.231 Td
[(E)0.5 (n)0.5 (v)0.5 (i)0.5 (r)0.5 (o)0.5 (n)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (a)0.5 (l)13 ( )0.5 (T)0.5 (e)0.5 (c)0.5 (h)0.5 (n)0.5 (o)0.5 (l)0.5 (o)0.5 (g)0.5 (y)13 ( )0.5 (C)0.5 (o)0.5 (.,)13 ( )0.5 (L)0.6 (td)0.5 (.)0.5 (*)13 ( )0.5 (\()]TJ
/C0_0 1 Tf
0.358 Tc -0.358 Tw 17.59 0 Td
<090F03EA037404B30295104114110FA407C504A603DE082202AE>Tj
0.025 Tc -0.025 Tw -17.59 -1.231 Td
<03210081>Tj
/T1_0 1 Tf
0.045 Tw 1.675 0 Td
(, marking its entry into green new energy sector. The new energy heavy-d\uty )Tj
0.029 Tc 0.079 Tw -1.675 -1.231 Td
[(truck)4 ( )0.5 (battery)4 ( )0.5 (swapping)4 ( )0.5 (station)4 ( )0.5 (at)4 ( )0.5 (the)4 ( )0.6 (Shengzhou)4 ( )0.5 (Service)4.1 ( )0.5 (Area)4 ( )0.5 (of)4.1 ( )0.5 (Ningbo-Jinhua)4 ( )]TJ
0.045 Tc 0.07 Tw 0 -1.231 Td
[(Expressway)12.6 ( has)12.6 ( commenced)12.6 ( operation,)12.6 ( successfully)12.6 ( establishing)12.6 ( China\222s)12.6 ( first)20 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(dedicated )Tj
4.377 0 Td
(transport)Tj
0.045 Tw ( route for foreign trade )Tj
-0.025 Tw (container)Tj
0.045 Tw ( electric trucks. Additionally, )Tj
0.079 Tw -4.377 -1.231 Td
(the Group completed province-wide deployment of the \223Sunshine Rescue \\()Tj
/C0_0 1 Tf
0.225 Tc -0.225 Tw 32.663 0 Td
<0DA20388>Tj
-32.663 -1.231 Td
<0AB90C6A>Tj
/T1_0 1 Tf
0.027 Tc 0.081 Tw 2.375 0 Td
[(\)\224)2 ( )0.5 (system)2 ( )0.5 (and)1.9 ( )0.5 (the)2 ( )]TJ
-0.027 Tw 8.019 0 Td
(activation)Tj
0.081 Tw 4.21 0 Td
[( )0.5 (of)2 ( )0.5 (the)2.1 ( drone)2 ( )0.5 (flight)2 ( )0.5 (control)2 ( )0.5 (platform,)1.9 ( )0.5 (upgraded)2 ( )]TJ
0.038 Tc 0.07 Tw -14.604 -1.231 Td
[(c)0.5 (o)0.5 (r)0.5 (e)13 ( )0.5 (t)0.5 (e)0.5 (c)0.5 (h)0.5 (n)0.5 (o)0.5 (l)0.5 (o)0.5 (g)0.5 (i)0.5 (e)0.5 (s)13 ( )0.5 (s)0.5 (u)0.5 (c)0.5 (h)13 ( )0.5 (a)0.5 (s)13 ( )0.5 (\223)]TJ
-0.038 Tw 12.128 0 Td
[(Z)0.5 (h)0.5 (i)0.5 (j)0.5 (i)0.5 (a)0.5 (n)0.5 (g)]TJ
0.07 Tw 3.676 0 Td
[( )0.5 (I)0.5 (n)0.5 (t)0.5 (e)0.5 (l)0.5 (l)0.5 (i)0.5 (g)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (E)0.5 (y)0.5 (e)13 ( )0.5 (\()]TJ
/C0_0 1 Tf
0.238 Tc -0.238 Tw 7.721 0 Td
<029803EA11460B3B>Tj
/T1_0 1 Tf
0.038 Tc 0.07 Tw 4.864 0 Td
[(\))0.5 (\224)0.5 (,)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (t)0.5 (e)0.5 (d)13 ( )]TJ
0.051 Tc -28.39 -1.231 Td
[(a)12.6 ( comprehensive)12.6 ( service)12.6 ( platform)12.6 ( of)12.6 ( intelligent)12.6 ( expressway)]TJ
0 Tc 0 Tw (s)Tj
0.051 Tc 0.07 Tw 27.552 0 Td
[( to)12.6 ( continuously)26 ( )]TJ
0.025 Tc 0 Tw -27.552 -1.231 Td
(enhance smooth traffic operation through intelligent systems.)Tj
/T1_1 1 Tf
0.03 Tc -0.03 Tw 0 -2.462 Td
(Steady)Tj
0.078 Tw 3.063 0 Td
[( )0.5 (advancement)5 ( )0.5 (in)5 ( )0.5 (A-share)5.1 ( listing)5 ( )0.5 (capital)5 ( )0.5 (operations.)5 ( )]TJ
/T1_0 1 Tf
23.952 0 Td
[(Seizing)5 ( )0.5 (the)5 ( )0.5 (policy)5 ( )]TJ
0.06 Tc 0.07 Tw -27.014 -1.231 Td
[(op)0.5 (po)0.5 (rtu)0.5 (ni)0.5 (ty)12.9 ( )0.5 (of)13 ( r)0.5 (eg)0.5 (ul)0.5 (ato)0.5 (ry)13 ( s)0.5 (upp)0.5 (or)0.5 (t)12.9 ( )0.5 (for)13 ( a)0.5 (bs)0.5 (or)0.5 (pt)0.5 (ion)13 ( a)0.5 (nd)13 ( me)0.5 (rg)0.5 (er)13 ( b)0.5 (et)0.5 (we)0.5 (en)13 ( l)0.5 (ist)0.5 (ed)35 ( )]TJ
0.031 Tc 0.077 Tw 0 -1.231 Td
[(c)0.6 (o)0.5 (m)0.6 (p)0.5 (a)0.6 (n)0.5 (i)0.6 (e)0.5 (s)6 ( )0.5 (u)0.6 (n)0.5 (d)0.6 (e)0.5 (r)6.1 ( )0.5 (c)0.5 (o)0.6 (m)0.5 (m)0.6 (o)0.5 (n)6 ( )0.5 (c)0.6 (o)0.5 (n)0.6 (t)0.5 (r)0.6 (o)0.5 (l)0.6 (,)6 ( )0.5 (t)0.5 (h)0.6 (e)6 ( )0.5 (C)0.6 (o)0.5 (m)0.6 (p)0.5 (a)0.6 (n)0.5 (y)6 ( )0.5 (h)0.6 (a)0.5 (s)6.1 ( )0.5 (b)0.5 (e)0.6 (e)0.5 (n)6 ( )0.5 (a)0.6 (d)0.6 (v)0.5 (a)0.6 (n)0.5 (c)0.6 (i)0.5 (n)0.6 (g)6 ( )0.5 (a)0.5 (b)0.6 (s)0.5 (o)0.6 (r)0.5 (p)0.6 (t)0.5 (i)0.6 (o)0.5 (n)6 ( )]TJ
0.056 Tc 0.07 Tw 0 -1.231 Td
[(and)12.7 ( merger)12.8 ( through)12.7 ( share)12.7 ( swap)12.8 ( with)12.7 ( Zhejiang)12.7 ( Oceanking)12.7 ( Development)12.7 ( Co.,)31 ( )]TJ
0.035 Tc 0.073 Tw 0 -1.231 Td
[(Ltd.)10 ( )0.5 (in)10 ( )0.6 (an)10 ( )0.5 (orderly)10.1 ( )0.5 (manner.)10 ( )0.5 (Upon)10 ( )0.5 (completion)10 ( )0.5 (of)10 ( )0.5 (this)10 ( )0.5 (absorption)10 ( )0.6 (and)10 ( )0.5 (merger,)10 ( )0.5 (the)10 ( )]TJ
0.047 Tc 0.07 Tw 0 -1.231 Td
[(Company)12.6 ( will)12.6 ( achieve)12.6 ( listing)12.6 ( on)12.5 ( both)12.5 ( A-share)12.5 ( and)12.6 ( H-share)12.6 ( markets,)12.5 ( which)12.6 ( is)22 ( )]TJ
0.055 Tc 0 -1.231 Td
[(conduc)0.5 (ive)12.9 ( to)12.9 ( valu)0.5 (ation)12.9 ( rec)0.5 (overy)12.9 ( )]TJ
[(of)12.9 ( )0.5 (th)0.5 (e)12.9 ( Company)]TJ
22.408 0 Td
[(,)12.9 ( en)0.5 (hancing)12.9 ( inve)0.5 (stment)12.9 ( and)30 ( )]TJ
0.025 Tc 0 Tw -22.408 -1.231 Td
(financing capabilities, and supporting )Tj
(the Group\222s)Tj
( long-term development.)Tj
ET

endstreamendobj80 0 obj<</Length 7715>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 27 \226)Tj
0.035 Tw 13 0 0 13 85.0394 776.3179 Tm
(Performance variations across different sections were primarily influenc\ed by the )Tj
0 Tw 0 -1.154 Td
(following factors:)Tj
0.034 Tc 0.074 Tw 0 -2.308 Td
[(The)9 ( )0.5 (development)9 ( )0.5 (of)9 ( )0.5 (Zhoushan)9 ( )0.5 (industrial)9.1 ( )0.5 (park)9 ( )0.5 (and)9 ( )0.5 (construction)9 ( )0.5 (of)9 ( )0.5 (Parallel)9 ( )0.5 (Line)9 ( )]TJ
0.042 Tc 0.07 Tw 0 -1.154 Td
[(of)12.4 ( Ningbo-Zhoushan)12.4 ( Expressway)12.4 ( drove)12.5 ( increased)12.4 ( freight)12.4 ( demand,)12.4 ( resulting)12.4 ( in)17 ( )]TJ
0 -1.154 Td
[(significant)12.3 ( growth)12.4 ( in)12.3 ( truck)12.3 ( traffic)12.3 ( volume)12.3 ( on)12.3 ( Zhoushan)12.3 ( Bay)12.4 ( Bridge.)12.3 ( Shangsan)17 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.154 Td
[(E)0.5 (x)0.6 (p)0.5 (r)0.5 (e)0.5 (s)0.6 (s)0.5 (w)0.5 (a)0.5 (y)7 ( )0.5 (w)0.6 (a)0.5 (s)7 ( )0.5 (a)0.5 (f)0.6 (f)0.5 (e)0.5 (c)0.6 (t)0.5 (e)0.5 (d)7 ( )0.5 (b)0.5 (y)7 ( )0.5 (t)0.5 (r)0.6 (a)0.5 (f)0.5 (f)0.6 (i)0.5 (c)7 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.6 (r)0.5 (o)0.5 (l)7 ( )0.5 (f)0.5 (o)0.6 (r)7 ( )0.5 (r)0.5 (e)0.5 (c)0.6 (o)0.5 (n)0.5 (s)0.5 (t)0.5 (r)0.6 (u)0.5 (c)0.5 (t)0.5 (i)0.6 (o)0.5 (n)7 ( )0.5 (a)0.5 (n)0.5 (d)7 ( )0.5 (e)0.6 (x)0.5 (p)0.5 (a)0.5 (n)0.5 (s)0.6 (i)0.5 (o)0.5 (n)7 ( )0.5 (o)0.5 (n)7 ( )]TJ
0.044 Tc 0.07 Tw 0 -1.154 Td
[(the)12.5 ( relevant)12.5 ( sections)12.5 ( of)12.5 ( YongTaiWen)12.5 ( Expressway)12.5 ( \(an)12.5 ( external)12.5 ( road)12.5 ( network\),)19 ( )]TJ
0.035 Tc 0.073 Tw 0 -1.154 Td
[(while)10 ( )0.5 (Xucun)10 ( )0.5 (to)10.1 ( )0.5 (Fotang)10 ( )0.5 (segment)10 ( )0.5 (on)10 ( )0.5 (the)10 ( )0.5 (reconstruction)10 ( )0.5 (and)10 ( )0.5 (expansion)10 ( )0.5 (project)10 ( )0.5 (of)10 ( )]TJ
0.037 Tc 0.071 Tw 0 -1.154 Td
[(Jinhua)12 ( )0.5 (Section)12.1 ( of)12 ( )0.5 (Ningbo-Jinhua)12 ( )0.5 (Expressway)12.1 ( )0.5 (implemented)12 ( )0.5 (traffic)12 ( )0.5 (control)11.9 ( )0.6 (from)12 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.154 Td
[(July)7 ( )0.5 (3)7 (1)7 (,)7 ( )0.5 (2)7 (0)7 (2)7 (5)7 (,)7 ( )0.5 (leading)7 ( )0.5 (to)7 ( )0.5 (phased)7 ( )0.5 (declines)7 ( )0.5 (in)7 ( )0.5 (traffic)7.1 ( )0.5 (volume)7.1 ( )0.5 (and)6.9 ( )0.6 (toll)7 ( )0.5 (revenue)7 ( )0.5 (for)7 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(both expressways.)Tj
0.054 Tc 0.07 Tw 0 -2.308 Td
[(Suzhou-Taizhou)12.6 ( Expressway)12.6 ( \(Phase)12.6 ( II\))12.5 ( opened)12.6 ( to)12.6 ( traffic)12.6 ( since)12.6 ( July)12.6 ( 4)12.5 (,)12.6 ( 2)12.5 (0)12.6 (2)12.5 (5)12.6 (,)29 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.154 Td
[(leading)7 ( )0.5 (to)7 ( )0.5 (a)7.1 ( )0.5 (year-on-year)6.9 ( )0.6 (decline)7 ( )0.5 (in)7 ( )0.5 (traffic)7 ( )0.5 (volume)7 ( )0.5 (of)7 ( )0.5 (Zhajiasu)7 ( )0.5 (Expressway)7 ( )0.5 (due)7 ( )]TJ
0.025 Tc 0.035 Tw 0 -1.154 Td
(to diversion. Linan Linglong-Yuqian Section of National Highway 329 open\ed to )Tj
0.076 Tw 0 -1.154 Td
(traffic since December 26, 2024, coupled with opening to traffic of West\ Wenyi )Tj
0.027 Tc 0.081 Tw 0 -1.154 Td
[(Road)2 ( )0.5 (Tunnel)2 ( )0.5 (since)2 ( )0.5 (June)2 ( )0.5 (2)2 (8)2 (,)2 ( )0.5 (2)2 (0)2 (2)2 (4)1.9 (,)2 ( )0.5 (resulting)1.9 ( )0.5 (in)2 ( )0.5 (a)2 ( )0.5 (year-on-year)2 ( )0.5 (decrease)2 ( )0.5 (in)1.9 ( )0.5 (traffic)2 ( )]TJ
0.036 Tc 0.072 Tw 0 -1.154 Td
[(volume)11 ( )0.5 (of)11 ( )0.5 (Hanghui)11 ( )0.5 (Expressway)11 ( )0.5 (due)11 ( )0.5 (to)11 ( )0.5 (diversion.)11 ( )0.5 (Hangzhou)11 ( )0.5 (to)11 ( )0.5 (Ningbo)11 ( )0.5 (Section)11 ( )]TJ
0.042 Tc 0.07 Tw 0 -1.154 Td
[(of)12.8 ( Hangzhou-Shaoxing-Ningbo)12.8 ( Expressway)12.8 ( fully)12.8 ( opened)12.8 ( to)12.8 ( traffic)12.8 ( since)12.8 ( April)17 ( )]TJ
0.039 Tc 0 -1.154 Td
[(1)12.4 (1)12.3 (,)12.4 ( 2)12.4 (0)12.4 (2)12.3 (5)12.4 (,)12.4 ( leading)12.4 ( to)12.4 ( a)12.4 ( certain)12.3 ( diversion)12.4 ( in)12.4 ( traffic)12.3 ( volume)12.4 ( of)12.4 ( Hangzhou-Ningbo)13.9 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.154 Td
(Expressway.)Tj
0.04 Tc 0.07 Tw 0 -2.308 Td
[(The)12.6 ( 1)12.6 (5)12.6 (%)12.7 ( discount)12.7 ( policy)12.6 ( on)12.6 ( tolls)12.6 ( for)12.6 ( Zhejiang)12.6 ( ETC)12.6 ( trucks,)12.6 ( implemented)12.6 ( since)15 ( )]TJ
0.025 Tc 0.012 Tw 0 -1.154 Td
(2019 on state-controlled expressways within the Zhejiang Province, was e\xtended )Tj
0.058 Tw 0 -1.154 Td
(to all ETC trucks starting April 25, 2025)Tj
-0.025 Tw (. )Tj
0.058 Tw 18.259 0 Td
(Coupled with one fewer toll collection )Tj
0.041 Tc 0.07 Tw -18.259 -1.154 Td
[(day)12.2 ( in)12.2 ( 2)12.2 (0)12.2 (2)12.2 (5)12.2 ( compared)12.3 ( to)12.3 ( the)12.3 ( year)12.2 ( of)12.2 ( 2)12.2 (0)12.2 (2)12.2 (4)12.2 (,)12.2 ( these)12.2 ( factors)12.2 ( collectively)12.2 ( exerted)12.2 ( a)16 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(certain negative impact on the toll revenue of the Group\222s expressway\s.)Tj
/T1_1 1 Tf
13 0 3.4833 13 55.3588 340.3179 Tm
[(\(II\) )-361.5 (Business Operations Achievements)]TJ
/T1_0 1 Tf
0.037 Tc 0.071 Tw 13 0 0 13 85.0394 310.3179 Tm
[(2)12 (0)12 (2)12 (5)12 ( )0.5 (marked)12 ( )0.5 (the)12 ( )0.5 (conclusion)12 ( )0.5 (of)12 ( )0.5 (the)12 ( )0.5 (1)12 (4)12 (th)12 ( )0.5 (Five-Year)12 ( )0.5 (Plan.)12 ( )0.5 (Facing)12 ( )0.5 (a)12 ( )0.5 (complex)12.1 ( )0.5 (and)12 ( )]TJ
0.025 Tc 0.032 Tw 0 -1.154 Td
[(ever-changing external environment, the Group remained steadfast in )0.5 (its strategic )]TJ
0.031 Tc 0.077 Tw 0 -1.154 Td
[(direction.)6 ( )0.5 (With)6 ( )0.5 (a)6 ( )0.5 (focus)6 ( )0.5 (on)6 ( )0.5 (stabilizing)6 ( )0.5 (growth,)6 ( )0.5 (advancing)6 ( )0.5 (reforms,)6 ( )0.5 (strengthening)6 ( )]TJ
0.025 Tc 0.006 Tw 0 -1.154 Td
(governance, and enhancing profitability, the Group has made key achievem\ents in )Tj
0.027 Tc 0.081 Tw 0 -1.154 Td
[(service)2.1 ( quality)2 ( )0.5 (improvement,)2 ( core)2 ( )0.5 (business)2 ( )0.5 (expansion,)2 ( )0.5 (industrial)2 ( )0.5 (upgrading,)2 ( )0.5 (and)2 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(capital operations.)Tj
/T1_1 1 Tf
0.067 Tc 0.07 Tw 0 -2.308 Td
[(Continuous)12.7 ( enhancement)12.8 ( of)12.7 ( operational)12.7 ( efficiency)12.7 ( and)12.7 ( service)12.7 ( quality.)42 ( )]TJ
/T1_0 1 Tf
0.072 Tc 0 -1.154 Td
[(Through)12.6 ( measures)12.6 ( such)12.7 ( as)12.6 ( hard)12.6 ( shoulder)12.6 ( expansion,)12.6 ( drone)12.6 ( early)12.6 ( warning,)46.9 ( )]TJ
0.052 Tc 0 -1.154 Td
[(intensive)12.5 ( and)12.5 ( off-peak)12.5 ( maintenance)12.5 ( construction,)12.5 ( the)12.5 ( Group)12.4 ( has)12.5 ( consistently)27 ( )]TJ
0.027 Tc 0.081 Tw 0 -1.154 Td
[(reduced)2 ( the)2 ( duration)2 ( )0.5 (of)2 ( )0.5 (toll)2 ( )0.5 (station)2 ( )0.5 (closures,)2 ( )0.5 (as)2 ( )0.5 (well)2 ( )0.5 (as)2 ( )0.5 (road)2 ( )0.5 (closures)2 ( )0.5 (and)2 ( )0.5 (traffic)2 ( )]TJ
0 -1.154 Td
[(interruptions)2.1 ( caused)2 ( )0.5 (by)2 ( )0.5 (road)2 ( )0.5 (maintenance)2 ( )0.5 (to)2 ( )0.5 (enhance)2.1 ( efficiency)2 ( )0.5 (of)2 ( )0.5 (existing)2 ( )0.5 (road)2 ( )]TJ
0.052 Tc 0.07 Tw 0 -1.154 Td
[(networks.)12.1 ( Meanwhile,)12.1 ( leveraging)12.1 ( Douyin)12.1 ( live)12.1 ( streaming)12.1 ( for)12.1 ( real-time)12.1 ( traffic)27.1 ( )]TJ
0.05 Tc 0 -1.154 Td
[(updates)12.7 ( and)12.8 ( marketing)12.8 ( promotions,)12.8 ( systematically)12.8 ( establishing)12.8 ( a)12.7 ( care)12.8 ( system)25 ( )]TJ
0.033 Tc 0.075 Tw 0 -1.154 Td
[(for)8 ( )0.5 (truck)8.1 ( users,)8 ( )0.5 (and)8 ( )0.5 (adding)8 ( )0.5 (service)8 ( )0.5 (facilities)8 ( )0.5 (such)8 ( )0.5 (as)8 ( )0.5 (fatigue-prevention)8 ( )0.5 (parking)8 ( )]TJ
0.046 Tc 0.07 Tw 0 -1.154 Td
[(spaces,)12.5 ( driver)12.5 ( rest)12.5 ( areas,)12.5 ( and)12.5 ( health)12.5 ( stations,)12.6 ( the)12.6 ( Group)12.5 ( has)12.5 ( improved)12.5 ( service)21 ( )]TJ
0.025 Tc 0 Tw 0 -1.154 Td
(quality and strengthened customer loyalty.)Tj
ET

endstreamendobj77 0 obj<</Length 6069>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 26 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
(Toll Road Operations)Tj
0.776 Tw 13 0 3.4833 13 55.3588 741.5878 Tm
[(\(I\) )0.5 (Business )]TJ
-0.025 Tw 6.323 0 Td
(Performance)Tj
0 Tw 5.931 0 Td
( and Analysis)Tj
/T1_0 1 Tf
0.069 Tc 0.07 Tw 13 0 0 13 85.0394 709.5878 Tm
[(The)12.6 ( expressways)12.6 ( operated)12.6 ( by)12.6 ( the)12.6 ( Group)12.7 ( are)12.7 ( primarily)12.6 ( located)12.7 ( in)12.6 ( Zhejiang)44 ( )]TJ
0.043 Tc 0 -1.231 Td
[(Province,)12.1 ( connecting)12.1 ( several)12.1 ( core)12.1 ( economic)12.2 ( regions)12.1 ( within)12.1 ( the)12.1 ( Yangtze)12.2 ( River)18 ( )]TJ
0.045 Tc 0 -1.231 Td
[(Delta.)12.4 ( Leveraging)12.4 ( advantages)12.4 ( of)12.4 ( international)12.3 ( hubs)12.3 ( such)12.3 ( as)12.4 ( Ningbo-Zhoushan)20 ( )]TJ
0.043 Tc 0 -1.231 Td
[(Port,)12.3 ( along)12.3 ( with)12.3 ( a)12.3 ( vibrant)12.3 ( private)12.3 ( sector,)12.3 ( robust)12.2 ( manufacturing)12.3 ( clusters,)12.3 ( and)12.3 ( a)18 ( )]TJ
0.025 Tc 0.017 Tw 0 -1.231 Td
(well-developed e-commerce logistics system, Zhejiang Province has establ\ished a )Tj
0.026 Tw 0 -1.231 Td
(solid industrial foundation and a resilient foreign trade structure, pro\viding stable )Tj
0.042 Tc 0.07 Tw 0 -1.231 Td
[(freight)12.4 ( demand)12.5 ( support)12.4 ( for)12.5 ( the)12.4 ( Group\222s)12.5 ( )]TJ
-0.042 Tw (road)Tj
0.07 Tw 19.916 0 Td
( network)Tj
0 Tc 0 Tw (s)Tj
0.042 Tc 0.07 Tw 4.365 0 Td
[(.)12.4 ( Meanwhile,)12.4 ( deepening)17 ( )]TJ
0.061 Tc -24.28 -1.231 Td
[(integr)0.5 (ation)12.9 ( of)12.9 ( t)0.5 (he)12.9 ( Ya)0.5 (ng)0.5 (tze)12.9 ( Rive)0.5 (r)12.9 ( Delta)13 ( will)12.9 ( c)0.5 (ontinue)12.9 ( t)0.5 (o)12.9 ( strengthe)0.5 (n)12.9 ( region)0.5 (al)36 ( )]TJ
0.025 Tc 0.02 Tw 0 -1.231 Td
(economic ties and personnel mobility, further driving passenger traffic \growth. In )Tj
0.03 Tc 0.078 Tw 0 -1.231 Td
[(2)5 (0)5 (2)5 (5)5 (,)5 ( )0.5 (Zhejiang)5 ( )0.5 (Province\222s)5.1 ( )0.5 (GDP)5 ( )0.5 (grew)5 ( )0.5 (by)5 ( )0.5 (5)5 (.)5 (5)5 (%)5 ( )0.5 (year-on-year,)5 ( )0.5 (exceeding)5 ( )0.5 (national)5 ( )]TJ
0 -1.231 Td
[(average)5 ( )0.5 (growth)5 ( )0.5 (rate.)5 ( )0.5 (The)5 ( )0.5 (superior)5 ( )0.5 (geographical)5 ( )0.5 (conditions)5 ( )0.5 (and)5 ( )0.5 (robust)5 ( )0.5 (economic)5 ( )]TJ
0.025 Tc 0.054 Tw 0 -1.231 Td
[(foundation have provided strong support for )0.5 (the )0.5 (organic growth of overall )0.5 (traffic )]TJ
0 Tw 0 -1.231 Td
(volume and toll revenue )Tj
-0.025 Tw (of)Tj
0 Tw ( the Group\222s expressways.)Tj
0.044 Tc 0.07 Tw 0 -2.462 Td
[(During)12.5 ( the)12.5 ( Period,)12.4 ( toll)12.4 ( revenue)12.5 ( of)12.5 ( the)12.5 ( Group\222s)12.5 ( nine)12.5 ( expressways)12.5 ( amounted)12.4 ( to)19 ( )]TJ
0.046 Tc 0 -1.231 Td
[(Rmb)12.6 (1)12.7 (0)12.7 (,)12.7 (3)12.6 (8)12.7 (7)12.7 (.)12.7 (6)12.7 (6)12.6 ( million,)12.7 ( representing)12.7 ( a)12.7 ( year-on-year)12.7 ( decrease)12.7 ( of)12.7 ( 2)12.7 (.)12.7 (6)12.6 (%.)12.7 ( Overall)21 ( )]TJ
0.04 Tc 0 -1.231 Td
[(traffic)12.7 ( volume)12.7 ( declined)12.7 ( by)12.7 ( 1)12.7 (.)12.7 (3)12.6 (%)12.7 ( year-on-year.)12.6 ( Daily)12.7 ( average)12.7 ( traffic)12.7 ( volume)12.7 ( in)15 ( )]TJ
0.025 Tc 0.077 Tw 0 -1.231 Td
(full-trip equivalents and toll revenue for each expressway )Tj
-0.025 Tw (section)Tj
0.077 Tw ( are detailed in )Tj
0 Tw 0 -1.231 Td
(the table below:)Tj
/T1_1 1 Tf
9.1 0 0 13 85.0394 389.5878 Tm
(The Group\222s )Tj
0 Tc 9.1 0 0 13 139.8481 389.5878 Tm
( )Tj
0.025 Tc 9.1 0 0 13 85.0394 373.5878 Tm
(Expressway Sections)Tj
17.292 1.231 Td
(Daily Average )Tj
-0.525 -1.231 Td
(Traffic Volume )Tj
-0.025 Tw 9.634 1.231 Td
(Year-on-year )Tj
2.592 -1.231 Td
(Change)Tj
0 Tw 6.211 0 Td
(Toll Revenue )Tj
-0.025 Tw 8.641 1.231 Td
(Year-on-year )Tj
2.592 -1.231 Td
(Change)Tj
/T1_0 1 Tf
0 Tw 9.1 0 3.4833 13 250.6538 357.5878 Tm
(\(in Full-Trip )Tj
-0.025 Tw 0.469 -1.231 Td
(Equivalents\))Tj
0 Tw 16.723 0 Td
(\(Rmb million\))Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 232.4409 337.1777 cm
0 0 m
68.031 0 l
S
Q
BT
0 Tc 9.1 0 3.4833 13 226.7717 338.5787 Tm
( )Tj
ET
q 1 0 0 1 311.811 337.1777 cm
0 0 m
68.032 0 l
S
Q
BT
9.1 0 3.4833 13 306.1417 338.5787 Tm
( )Tj
ET
q 1 0 0 1 391.1811 337.1777 cm
0 0 m
68.031 0 l
S
Q
BT
9.1 0 3.4833 13 385.5118 338.5787 Tm
( )Tj
ET
q 1 0 0 1 470.5512 337.1777 cm
0 0 m
68.032 0 l
S
Q
BT
9.1 0 3.4833 13 464.8819 338.5787 Tm
( )Tj
0.025 Tc -0.025 Tw 9.1 0 0 13 85.0394 306.5787 Tm
(Shanghai-Hangzhou-Ningbo )Tj
1.277 -1.231 Td
(Expressway)Tj
19.522 0 Td
(91,379)Tj
8.914 0 Td
(0.15%)Tj
7.73 0 Td
(4,928.17)Tj
9.356 0 Td
(-1.40%)Tj
0 Tw -45.522 -1.231 Td
(\226 Shanghai-Hangzhou Section)Tj
-0.025 Tw 19.522 0 Td
(93,058)Tj
8.914 0 Td
(0.98%)Tj
0 Tw -28.436 -1.231 Td
(\226 Hangzhou-Ningbo Section)Tj
-0.025 Tw 19.522 0 Td
(90,154)Tj
8.556 0 Td
(-0.46%)Tj
0 Tw -29.355 -1.231 Td
(Shangsan Expressway)Tj
-0.025 Tw 20.799 0 Td
(28,330)Tj
8.031 0 Td
(-12.36%)Tj
9.413 0 Td
(872.85)Tj
8.031 0 Td
(-17.70%)Tj
0 Tw -46.274 -1.231 Td
(Jinhua Section, Ningbo-Jinhua )Tj
-0.025 Tw 1.277 -1.231 Td
(Expressway)Tj
19.522 0 Td
(30,442)Tj
8.031 0 Td
(-10.49%)Tj
9.413 0 Td
(504.90)Tj
8.031 0 Td
(-10.90%)Tj
0 Tw -46.274 -1.231 Td
(Hanghui Expressway)Tj
-0.025 Tw 20.799 0 Td
(27,693)Tj
8.556 0 Td
(-4.91%)Tj
8.888 0 Td
(685.82)Tj
8.556 0 Td
(-6.10%)Tj
0 Tw -46.799 -1.231 Td
(Huihang Expressway)Tj
-0.025 Tw 20.799 0 Td
(12,240)Tj
8.914 0 Td
(5.16%)Tj
8.53 0 Td
(189.41)Tj
8.914 0 Td
(1.40%)Tj
0 Tw -47.157 -1.231 Td
(Zhoushan Bay Bridge)Tj
-0.025 Tw 20.799 0 Td
(34,656)Tj
8.914 0 Td
(8.65%)Tj
7.73 0 Td
(1,392.83)Tj
9.714 0 Td
(7.20%)Tj
0 Tw -47.157 -1.231 Td
(LongLiLiLong Expressways)Tj
-0.025 Tw 20.799 0 Td
(16,803)Tj
8.914 0 Td
(5.50%)Tj
8.53 0 Td
(806.58)Tj
8.914 0 Td
(1.80%)Tj
0 Tw -47.157 -1.231 Td
(Zhajiasu Expressway)Tj
-0.025 Tw 20.799 0 Td
(40,815)Tj
8.556 0 Td
(-5.66%)Tj
8.888 0 Td
(469.29)Tj
8.556 0 Td
(-6.30%)Tj
0 Tw -46.799 -1.231 Td
(HuangQuNan Expressway)Tj
-0.025 Tw 20.799 0 Td
(13,038)Tj
8.914 0 Td
(7.23%)Tj
8.53 0 Td
(537.82)Tj
8.914 0 Td
(1.50%)Tj
ET

endstreamendobj79 0 obj<</BBox[0.0 841.89 595.276 0.0]/Length 0/Matrix[1.0 0.0 0.0 1.0 0.0 0.0]/Resources<<>>/Subtype/Form>>stream

endstreamendobj78 0 obj<</AIS false/BM/Normal/CA 1.0/OP false/OPM 1/SA true/SMask/None/Type/ExtGState/ca 1.0/op false>>endobj32 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 84 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 18 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19840>>/PageWidthList<</0 595.276>>>>>>>>endobj33 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 85 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 18 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19875>>/PageWidthList<</0 595.276>>>>>>>>endobj34 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 86 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 18 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19911>>/PageWidthList<</0 595.276>>>>>>>>endobj35 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 87 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 18 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19946>>/PageWidthList<</0 595.276>>>>>>>>endobj36 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 88 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 18 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19981>>/PageWidthList<</0 595.276>>>>>>>>endobj88 0 obj<</Length 4474>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 25 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
13 0 0 13 56.6929 773.5878 Tm
(A breakdown of the Group\222s revenue for the Period is set out below:)Tj
/T1_1 1 Tf
-0.025 Tw 22.674 -2.462 Td
(2025)Tj
/T1_0 1 Tf
6.105 0 Td
(2024)Tj
0 Tc 0 Tw 2.85 0 Td
(Yea)Tj
(r-on-y)Tj
(ear )Tj
2.275 -1.231 Td
(Change)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 13 0 3.4833 13 323.8694 725.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.271 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 310.3937 721.1777 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 304.7244 722.5787 Tm
( )Tj
ET
q 1 0 0 1 389.7638 721.1777 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 384.0945 722.5787 Tm
( )Tj
ET
q 1 0 0 1 469.1339 721.1777 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 463.4646 722.5787 Tm
( )Tj
0.025 Tc -31.29 -2.462 Td
(Toll road operation revenue)Tj
/T1_1 1 Tf
-0.025 Tw 20.024 0 Td
(10,387,655)Tj
/T1_0 1 Tf
6.105 0 Td
(10,662,346)Tj
8.314 0 Td
(-2.6%)Tj
0 Tw -33.44 -1.231 Td
(Shanghai-Hangzhou-Ningbo Expressway)Tj
/T1_1 1 Tf
-0.025 Tw 19.546 0 Td
(4,928,173)Tj
/T1_0 1 Tf
6.105 0 Td
(4,996,109)Tj
7.789 0 Td
(-1.4%)Tj
0 Tw -33.44 -1.231 Td
(Shangsan Expressway)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(872,848)Tj
/T1_0 1 Tf
5.305 0 Td
(1,060,476)Tj
7.264 0 Td
(-17.7%)Tj
0 Tw -32.915 -1.231 Td
(Jinhua Section, Ningbo-Jinhua )Tj
-0.025 Tw 1.003 -1.231 Td
(Expressway)Tj
/T1_1 1 Tf
19.343 0 Td
(504,902)Tj
/T1_0 1 Tf
6.105 0 Td
(566,418)Tj
6.464 0 Td
(-10.9%)Tj
0 Tw -32.915 -1.231 Td
(Hanghui Expressway)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(685,815)Tj
/T1_0 1 Tf
6.105 0 Td
(730,386)Tj
6.989 0 Td
(-6.1%)Tj
0 Tw -33.44 -1.231 Td
(Huihang Expressway)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(189,405)Tj
/T1_0 1 Tf
6.105 0 Td
(186,844)Tj
7.347 0 Td
(1.4%)Tj
0 Tw -33.798 -1.231 Td
(Zhoushan Bay Bridge)Tj
/T1_1 1 Tf
-0.025 Tw 19.546 0 Td
(1,392,825)Tj
/T1_0 1 Tf
6.105 0 Td
(1,299,442)Tj
8.147 0 Td
(7.2%)Tj
0 Tw -33.798 -1.231 Td
(LongLiLiLong Expressways)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(806,578)Tj
/T1_0 1 Tf
6.105 0 Td
(792,175)Tj
7.347 0 Td
(1.8%)Tj
0 Tw -33.798 -1.231 Td
(Zhajiasu Expressway)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(469,290)Tj
/T1_0 1 Tf
6.105 0 Td
(500,747)Tj
6.989 0 Td
(-6.3%)Tj
0 Tw -33.44 -1.231 Td
(HuangQuNan Expressway)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(537,819)Tj
/T1_0 1 Tf
6.105 0 Td
(529,749)Tj
7.347 0 Td
(1.5%)Tj
0 Tw -34.801 -1.231 Td
(Securities business revenue)Tj
/T1_1 1 Tf
-0.025 Tw 20.549 0 Td
(7,550,613)Tj
/T1_0 1 Tf
6.105 0 Td
(6,182,506)Tj
7.622 0 Td
(22.1%)Tj
0 Tw -33.273 -1.231 Td
(Commission and fee income)Tj
/T1_1 1 Tf
-0.025 Tw 19.546 0 Td
(4,642,996)Tj
/T1_0 1 Tf
6.105 0 Td
(3,692,147)Tj
7.622 0 Td
(25.8%)Tj
0 Tw -33.273 -1.231 Td
(Interest income)Tj
/T1_1 1 Tf
-0.025 Tw 19.546 0 Td
(2,907,617)Tj
/T1_0 1 Tf
6.105 0 Td
(2,490,359)Tj
7.622 0 Td
(16.8%)Tj
0 Tw -34.276 -1.231 Td
(Other operation revenue)Tj
/T1_1 1 Tf
-0.025 Tw 20.549 0 Td
(1,817,222)Tj
/T1_0 1 Tf
6.105 0 Td
(1,219,972)Tj
7.622 0 Td
(49.0%)Tj
0 Tw -33.273 -1.231 Td
(Hotel and catering)Tj
/T1_1 1 Tf
-0.025 Tw 20.346 0 Td
(101,628)Tj
/T1_0 1 Tf
6.105 0 Td
(108,251)Tj
6.989 0 Td
(-6.1%)Tj
0 Tw -33.44 -1.231 Td
(Construction service)Tj
/T1_1 1 Tf
-0.025 Tw 19.546 0 Td
(1,690,252)Tj
/T1_0 1 Tf
6.105 0 Td
(1,070,362)Tj
7.622 0 Td
(57.9%)Tj
0 Tw -33.273 -1.231 Td
(Public-private partnership)Tj
/T1_1 1 Tf
-0.025 Tw 20.871 0 Td
(25,342)Tj
/T1_0 1 Tf
6.105 0 Td
(41,359)Tj
5.939 0 Td
(-38.7%)Tj
ET
q 1 0 0 1 310.3936 414.1686 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 304.7244 415.5696 Tm
( )Tj
ET
q 1 0 0 1 389.7637 414.1686 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 384.0945 415.5696 Tm
( )Tj
ET
q 1 0 0 1 469.1338 414.1686 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 463.4645 415.5696 Tm
( )Tj
0.025 Tc -31.29 -2.462 Td
(Total revenue)Tj
/T1_1 1 Tf
-0.025 Tw 20.024 0 Td
(19,755,490)Tj
/T1_0 1 Tf
6.105 0 Td
(18,064,824)Tj
8.672 0 Td
(9.4%)Tj
ET
2.5 w 
q 1 0 0 1 310.3936 378.0051 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 310.3936 374.6726 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 304.7244 375.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 389.7637 378.0051 cm
0 0 m
68.031 0 l
S
Q
0.835 w 
q 1 0 0 1 389.7637 374.6726 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 384.0945 375.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 469.1338 378.0051 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 469.1338 374.6726 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 463.4645 375.9061 Tm
( )Tj
ET

endstreamendobj87 0 obj<</Length 4816>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 24 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
(BUSINESS REVIEW)Tj
/T1_0 1 Tf
0.041 Tc 0.07 Tw 0 -2.462 Td
[(In)12.3 ( 2)12.3 (0)12.2 (2)12.3 (5)12.2 (,)12.2 ( global)12.2 ( economic)12.3 ( recovery)12.2 ( faced)12.3 ( challenges)12.2 ( from)12.2 ( geopolitical)12.2 ( tensions)12.2 ( and)16 ( )]TJ
0.054 Tc 0 -1.231 Td
[(fluctuations)12.3 ( in)12.4 ( international)12.3 ( trade)12.3 ( environment.)12.3 ( Domestic)12.3 ( economic)12.4 ( development)29 ( )]TJ
0.025 Tc 0.083 Tw 0 -1.231 Td
[(also encountered )0.5 (structural )0.5 (pressures including )0.5 (insufficient )0.5 (demand )0.5 (and )0.5 (the )0.5 (transition )]TJ
0.026 Tc 0.082 Tw 0 -1.231 Td
[(between)1 ( old)1 ( )0.5 (and)1 ( )0.5 (new)1 ( )0.5 (growth)1 ( )0.6 (drivers.)1 ( )0.5 (Against)1 ( )0.5 (this)1 ( )0.5 (backdrop,)1 ( )0.5 (the)1 ( )0.5 (Chinese)1 ( )0.5 (government)0.9 ( )]TJ
0.025 Tc 0.027 Tw 0 -1.231 Td
(implemented targeted and robust macroeconomic policies to expand domesti\c demand, )Tj
0.027 Tc 0.081 Tw 0 -1.231 Td
[(deepen)2.1 ( reform)2 ( )0.5 (and)2 ( )0.5 (opening-up,)2 ( )0.5 (and)2 ( )0.5 (cultivate)2 ( )0.5 (new)2 ( )0.5 (quality)2 ( )0.5 (productive)2 ( )0.5 (forces,)2 ( )0.5 (ensuring)2 ( )]TJ
0.025 Tc 0.055 Tw 0 -1.231 Td
(stable and positive economic performance. National GDP grew by 5.0% year\-on-year. )Tj
0.039 Tc 0.07 Tw 0 -1.231 Td
[(In)12.3 ( 2)12.3 (0)12.3 (2)12.3 (5)12.3 (,)12.3 ( Zhejiang)12.3 ( Province)12.3 ( actively)12.3 ( leveraged)12.3 ( its)12.3 ( core)12.3 ( strengths)12.3 ( in)12.4 ( digital)12.3 ( economy)14 ( )]TJ
0.025 Tc 0.079 Tw 0 -1.231 Td
(and private sector, accelerated the development of artificial intelligen\ce industry, and )Tj
0.03 Tc 0.078 Tw 0 -1.231 Td
[(diversified)5 ( )0.5 (foreign)5 ( )0.5 (trade)5 ( )0.5 (markets,)5 ( )0.5 (to)5 ( )0.5 (propel)5.1 ( )0.5 (a)5 ( )0.5 (5)5 (.)5 (5)5 (%)5 ( )0.5 (year-on-year)5 ( )0.5 (GDP)5 ( )0.5 (growth)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(province.)Tj
0.006 Tw 0 -2.462 Td
(During the Period, based on internal operational metrics, macroeconomic \growth drove )Tj
0.026 Tw 0 -1.231 Td
(an organic increase of approximately 3.3% in toll revenue from expresswa\ys under the )Tj
0.021 Tw 0 -1.231 Td
(Group. However, due to traffic control for reconstruction and expansion \on connecting )Tj
0.016 Tw 0 -1.231 Td
(external road networks and certain sections under the Group\222s operati\on, as well as the )Tj
0.035 Tc 0.073 Tw 0 -1.231 Td
[(expanded)10 ( )0.5 (scope)10 ( )0.5 (of)10 ( )0.5 (the)10.1 ( )0.5 (1)10 (5)10 (%)10 ( )0.5 (toll)10 ( )0.5 (discount)10.1 ( )0.5 (policy)10 ( )0.5 (for)10 ( )0.5 (ETC)10 ( )0.5 (trucks,)10 ( )0.5 (the)10 ( )0.5 (Group)10 ( )0.6 (recorded)10 ( )]TJ
0.025 Tc 0.083 Tw 0 -1.231 Td
[(a )0.5 (slight )0.5 (year-on-year decline )0.5 (in )0.5 (expressway )0.5 (toll )0.5 (revenue. )0.5 (Benefiting from )0.5 (recovery )0.5 (in )]TJ
0.003 Tw 0 -1.231 Td
(domestic capital markets and increased activity in mergers and acquisiti\ons, revenue of )Tj
0.013 Tw 0 -1.231 Td
(securities business saw substantial year-on-year growth, enhancing the G\roup\222s overall )Tj
0.042 Tc 0.069 Tw 0 -1.231 Td
[(r)0.6 (e)0.5 (v)0.6 (e)0.6 (n)0.5 (u)0.6 (e)0.5 (.)13.1 ( D)0.5 (u)0.6 (r)0.5 (i)0.6 (n)0.6 (g)13 ( t)0.5 (h)0.6 (e)13 ( P)0.6 (e)0.5 (r)0.6 (i)0.5 (o)0.6 (d)0.6 (,)13 ( t)0.5 (o)0.6 (t)0.5 (a)0.6 (l)13.1 ( r)0.6 (e)0.5 (v)0.6 (e)0.6 (n)0.5 (u)0.6 (e)13.1 ( o)0.6 (f)13 ( t)0.5 (h)0.6 (e)13.1 ( G)0.6 (r)0.5 (o)0.6 (u)0.6 (p)13 ( w)0.5 (a)0.6 (s)13.1 ( R)0.6 (m)0.6 (b)13 (1)13.1 (9)13 (,)13.1 (7)13 (5)13.1 (5)13 (.)13.1 (4)13 (9)13.1 ( m)0.5 (i)0.6 (l)0.5 (l)0.6 (i)0.5 (o)0.6 (n)0.5 (,)17.1 ( )]TJ
0.045 Tc 0.07 Tw 0 -1.231 Td
[(representing)12.2 ( a)12.1 ( year-on-year)12.1 ( increase)12.2 ( of)12.1 ( 9)12.2 (.)12.1 (4)12.1 (%,)12.1 ( of)12.1 ( which)12.1 ( Rmb)12.1 (1)12.1 (0)12.1 (,)12.2 (3)12.1 (8)12.1 (7)12.1 (.)12.1 (6)12.1 (6)12.2 ( million)12.1 ( was)20 ( )]TJ
0.025 Tc 0.03 Tw 0 -1.231 Td
[(generated )0.5 (by the )0.5 (nine )0.5 (major expressways operated )0.5 (by )0.5 (the )0.5 (Group )0.5 (\(2024: )0.5 (Rmb10,662.35 )]TJ
0.045 Tc 0.07 Tw 0 -1.231 Td
[(million\),)12.6 ( representing)12.7 ( 5)12.7 (2)12.6 (.)12.6 (6)12.7 (%)12.6 ( of)12.6 ( total)12.7 ( revenue.)12.7 ( Revenue)12.6 ( generated)12.7 ( by)12.7 ( the)12.7 ( securities)20 ( )]TJ
0.028 Tc 0.08 Tw 0 -1.231 Td
[(business)3 ( )0.5 (was)3 ( )0.5 (Rmb)3 (7)3 (,)3 (5)3 (5)3 (0)3 (.)3 (6)3 (1)3 ( )0.5 (million)3 ( )0.5 (\()3 (2)3 (0)3 (2)3 (4)3 (:)3 ( )0.5 (Rmb)3 (6)3 (,)3 (1)3 (8)3 (2)3 (.)3 (5)3 (1)3 ( )0.5 (million\),)3 ( )0.5 (representing)3 ( )0.5 (3)3 (8)3 (.)3 (2)3 (%)3 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(of the total revenue.)Tj
ET

endstreamendobj86 0 obj<</Length 9500>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 23 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
0.045 Tc 0.07 Tw 13 0 0 13 113.3858 773.5878 Tm
[(T)0.5 (h)0.5 (e)13 ( )0.5 (m)0.5 (o)0.6 (ve)0.6 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13.1 ( d)0.6 (e)0.5 (b)0.5 (t)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (d)0.5 (e)0.5 (r)0.6 (i)0.5 (v)0.5 (a)0.5 (t)0.5 (i)0.5 (v)0.5 (e)13 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (p)0.5 (o)0.5 (n)0.5 (e)0.6 (n)0.5 (t)0.5 (s)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (C)0.5 (o)0.5 (n)0.5 (v)0.6 (e)0.5 (r)0.5 (t)0.5 (i)0.5 (b)0.5 (l)0.5 (e)20 ( )]TJ
0.029 Tc 0.082 Tw 0 -1.231 Td
[(B)-12 (o)-12.1 (n)-12.1 (d)0.5 ( 2)0.5 (02)0.5 (1 a)-12.1 (s)0.5 ( a)-12 (t D)-12.1 (e)-12 (c)-12 (e)-12.1 (m)-12.1 (b)-12 (e)-12.1 (r)0.5 ( 3)0.5 (1,)0.5 ( 2)0.5 (02)0.5 (4 a)-12.1 (n)-12 (d D)-12.1 (e)-12 (c)-12.1 (e)-12 (m)-12.1 (b)-12 (e)-12.1 (r)0.5 ( 3)0.5 (1,)0.5 ( 2)0.5 (02)0.5 (5 i)-12 (s s)-12.1 (e)-12 (t o)-12.1 (u)-12 (t a)-12.1 (s)4 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(below:)Tj
/T1_1 1 Tf
0 Tw 9.1 0 0 13 264.587 709.5878 Tm
(Debt component at )Tj
0.996 -1.231 Td
(amortised cost)Tj
8.905 1.231 Td
(Derivative component )Tj
2.677 -1.231 Td
(at FVTPL)Tj
-0.025 Tw 11.67 0 Td
(Total)Tj
/T1_0 1 Tf
9.1 0 3.4833 13 260.3406 677.5878 Tm
(Euro\222000)Tj
5.319 0 Td
(Rmb\222000)Tj
5.271 0 Td
(Euro\222000)Tj
5.319 0 Td
(Rmb\222000)Tj
5.271 0 Td
(Euro\222000)Tj
5.319 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 260.7874 673.1777 cm
0 0 m
36.85 0 l
S
Q
BT
0 Tc 0 Tw 13 0 3.4833 13 290.4878 674.5787 Tm
( )Tj
ET
q 1 0 0 1 308.9763 673.1777 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 3.4833 13 338.6768 674.5787 Tm
( )Tj
ET
q 1 0 0 1 357.1653 673.1777 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 3.4833 13 386.8657 674.5787 Tm
( )Tj
ET
q 1 0 0 1 405.3543 673.1777 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 3.4833 13 435.0547 674.5787 Tm
( )Tj
ET
q 1 0 0 1 453.5433 673.1777 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 3.4833 13 483.2437 674.5787 Tm
( )Tj
ET
q 1 0 0 1 501.7322 673.1777 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 3.4833 13 531.4326 674.5787 Tm
( )Tj
0.025 Tc 9.1 0 0 13 113.3858 642.5787 Tm
(As at January 1, 2024)Tj
-0.025 Tw 16.847 0 Td
(227,481)Tj
4.495 0 Td
(1,787,819)Tj
7.145 0 Td
(3,518)Tj
4.77 0 Td
(27,646)Tj
4.77 0 Td
(230,999)Tj
4.495 0 Td
(1,815,465)Tj
-42.525 -1.231 Td
(Redemption)Tj
16.464 0 Td
(\(202,600\))Tj
4.495 0 Td
(\(1,592,274\))Tj
0 Tc 0 Tw 9.378 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 2.013 0 Td
(\(202,600\))Tj
4.495 0 Td
(\(1,592,274\))Tj
-42.142 -1.231 Td
(Conversion )Tj
5.136 0 Td
(of)Tj
0 Tw ( Convertible Bond)Tj
-0.025 Tw 13.179 0 Td
(\(200\))Tj
4.495 0 Td
(\(1,472\))Tj
6.62 0 Td
(\(22\))Tj
4.77 0 Td
(\(164\))Tj
5.295 0 Td
(\(222\))Tj
4.495 0 Td
(\(1,636\))Tj
0 Tw -43.992 -1.231 Td
(Exchange realignment)Tj
0 Tc 19.747 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.063 0 Td
(\(8,243\))Tj
0 Tc 0 Tw 7.528 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.063 0 Td
(\(8,243\))Tj
0 Tw -43.992 -1.231 Td
(Interest charge)Tj
-0.025 Tw 17.897 0 Td
(1,192)Tj
5.295 0 Td
(8,879)Tj
0 Tc 0 Tw 7.145 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.445 0 Td
(1,192)Tj
5.295 0 Td
(8,879)Tj
0 Tw -44.375 -1.231 Td
(Loss on changes in fair value)Tj
0 Tc 19.747 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 4.245 0 Td
(512)Tj
4.495 0 Td
(2,676)Tj
6.095 0 Td
(512)Tj
4.495 0 Td
(2,676)Tj
ET
q 1 0 0 1 260.7876 558.1686 cm
0 0 m
36.85 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 255.1183 559.5696 Tm
( )Tj
ET
q 1 0 0 1 308.9765 558.1686 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 303.3073 559.5696 Tm
( )Tj
ET
q 1 0 0 1 357.1655 558.1686 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 351.4962 559.5696 Tm
( )Tj
ET
q 1 0 0 1 405.3545 558.1686 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 399.6852 559.5696 Tm
( )Tj
ET
q 1 0 0 1 453.5435 558.1686 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 447.8742 559.5696 Tm
( )Tj
ET
q 1 0 0 1 501.7324 558.1686 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 496.0631 559.5696 Tm
( )Tj
0.025 Tc 9.1 0 0 13 113.386 527.5696 Tm
(As at December 31, 2024)Tj
-0.025 Tw 17.372 0 Td
(25,873)Tj
4.77 0 Td
(194,709)Tj
6.345 0 Td
(4,008)Tj
4.77 0 Td
(30,158)Tj
5.295 0 Td
(29,881)Tj
4.77 0 Td
(224,867)Tj
ET
2.5 w 
q 1 0 0 1 260.7876 522.0051 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 260.7876 518.6726 cm
0 0 m
36.85 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 255.1183 519.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 308.9765 522.0051 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 308.9765 518.6726 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 303.3073 519.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 357.1655 522.0051 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 357.1655 518.6726 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 351.4962 519.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 405.3545 522.0051 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 405.3545 518.6726 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 399.6852 519.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 453.5435 522.0051 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 453.5435 518.6726 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 447.8742 519.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 501.7324 522.0051 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 501.7324 518.6726 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 496.0631 519.9061 Tm
( )Tj
0.025 Tc 9.1 0 0 13 113.386 487.9061 Tm
(Conversion of Convertible Bond)Tj
/T1_1 1 Tf
-0.025 Tw 16.989 0 Td
(\(26,608\))Tj
4.77 0 Td
(\(217,028\))Tj
6.345 0 Td
(\(4,806\))Tj
4.77 0 Td
(\(40,180\))Tj
5.295 0 Td
(\(31,414\))Tj
4.77 0 Td
(\(257,208\))Tj
/T1_0 1 Tf
0 Tw -42.942 -1.231 Td
(Exchange realignment)Tj
/T1_1 1 Tf
0 Tc 19.747 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 2.92 0 Td
(16,457)Tj
0 Tc 0 Tw 7.67 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 2.92 0 Td
(16,457)Tj
/T1_0 1 Tf
0 Tw -43.85 -1.231 Td
(Interest charge)Tj
/T1_1 1 Tf
-0.025 Tw 18.697 0 Td
(735)Tj
4.495 0 Td
(5,862)Tj
0 Tc 0 Tw 7.145 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 4.245 0 Td
(735)Tj
4.495 0 Td
(5,862)Tj
/T1_0 1 Tf
0 Tw -44.375 -1.231 Td
(Loss on changes in fair value)Tj
/T1_1 1 Tf
0 Tc 19.747 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 4.245 0 Td
(798)Tj
3.971 0 Td
(10,022)Tj
6.62 0 Td
(798)Tj
3.97 0 Td
(10,022)Tj
ET
0.5 w 
q 1 0 0 1 260.7877 435.4961 cm
0 0 m
36.85 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 255.1184 436.897 Tm
( )Tj
ET
q 1 0 0 1 308.9767 435.4961 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 303.3074 436.897 Tm
( )Tj
ET
q 1 0 0 1 357.1656 435.4961 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 351.4964 436.897 Tm
( )Tj
ET
q 1 0 0 1 405.3546 435.4961 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 399.6854 436.897 Tm
( )Tj
ET
q 1 0 0 1 453.5436 435.4961 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 447.8743 436.897 Tm
( )Tj
ET
q 1 0 0 1 501.7326 435.4961 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 496.0633 436.897 Tm
( )Tj
/T1_0 1 Tf
0.025 Tc 9.1 0 0 13 113.3862 404.897 Tm
(As at December 31, 2025)Tj
/T1_1 1 Tf
0 Tc 19.747 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
5.295 0 Td
(\226)Tj
ET
2.5 w 
q 1 0 0 1 260.7878 399.3325 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 260.7878 396 cm
0 0 m
36.85 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 255.1185 397.2335 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 308.9767 399.3325 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 308.9767 396 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 303.3075 397.2335 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 357.1657 399.3325 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 357.1657 396 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 351.4964 397.2335 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 405.3547 399.3325 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 405.3547 396 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 399.6854 397.2335 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 453.5437 399.3325 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 453.5437 396 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 447.8744 397.2335 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 501.7326 399.3325 cm
0 0 m
36.85 0 l
S
Q
0.835 w 
q 1 0 0 1 501.7326 396 cm
0 0 m
36.85 0 l
S
Q
BT
13 0 0 13 496.0634 397.2335 Tm
( )Tj
0.082 Tc 0.07 Tw -29.437 -2.335 Td
[(On)12.6 ( December)12.7 ( 2)12.7 (2)12.7 (,)12.7 ( 2)12.7 (0)12.7 (2)12.7 (3)12.6 (,)12.7 ( pursuant)12.7 ( to)12.7 ( the)12.7 ( terms)12.7 ( and)12.6 ( conditions)12.7 ( of)12.6 ( the)57 ( )]TJ
0.051 Tc 0 -1.231 Td
[(bonds,)12.1 ( notice)12.1 ( of)12.1 ( redemption)12.1 ( had)12.1 ( been)12.1 ( served)12.1 ( on)12.1 ( the)12.1 ( Company)12.1 ( requiring)26 ( )]TJ
0.075 Tc 0 -1.231 Td
[(the)12.8 ( Company)12.8 ( to)12.8 ( redeem)12.8 ( part)12.8 ( of)12.8 ( the)12.8 ( bonds)12.9 ( at)12.8 ( the)12.8 ( principal)12.8 ( amount)12.8 ( of)50 ( )]TJ
0.04 Tc -0.04 Tw 0 -1.231 Td
[(E)-12.8 (u)-12.8 (r)-12.9 (o202,600,000)]TJ
(. )Tj
0.053 Tc 0.07 Tw 8.249 0 Td
[(Such)12.7 ( redemption)12.7 ( rights)12.7 ( were)12.7 ( executed)12.7 ( on)12.6 ( January)12.7 ( 2)12.7 (0)12.7 (,)27.9 ( )]TJ
0.025 Tc -0.025 Tw -8.249 -1.231 Td
(2024)Tj
(. )Tj
0.03 Tw 2.68 0 Td
(During the year ended December 31, 2024, the bondholders converted )Tj
0.08 Tw -2.68 -1.231 Td
(part of the Convertible Bond 2021 with a principal amount of Euro200,000\ )Tj
0.038 Tc 0.07 Tw 0 -1.231 Td
[(to)12.4 ( the)12.5 ( shares)12.4 ( of)12.4 ( the)12.4 ( Company.)12.4 ( During)12.4 ( the)12.4 ( year)12.4 ( )]TJ
-0.038 Tw (ended)Tj
0.07 Tw 23.553 0 Td
[( December)12.4 ( )]TJ
0.026 Tc -0.026 Tw (31,)Tj
0.082 Tw [( 20)0.5 (25,)1 ( )]TJ
0.031 Tc 0.077 Tw -23.553 -1.231 Td
[(the)6 ( )0.5 (bondholder)6.1 ( )0.5 (converted)6 ( )0.5 (remaining)6 ( )0.5 (Convertible)6 ( )0.5 (Bond)6 ( )0.5 (2)6 (0)6 (2)6.1 (1)5.9 ( )0.6 (with)6 ( )0.5 (principal)6 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(amount of Euro27,200,000 to the shares of the Company.)Tj
ET

endstreamendobj85 0 obj<</Length 3491>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 22 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
13 0 0 13 113.3858 773.5878 Tm
(The Convertible Bond 2021 comprises two components:)Tj
0.029 Tc 0.079 Tw 0 -2.462 Td
[(\()4 (a)4 (\))4 ( )-637.5 (Debt)4 ( )0.5 (component)4 ( )0.5 (was)4 ( )0.5 (initially)4 ( )0.5 (measured)4 ( )0.5 (at)4 ( )0.5 (fair)4 ( )0.5 (value)4 ( )0.5 (in)4 ( )0.5 (the)4 ( )0.5 (amount)4 ( )0.5 (of)4 ( )]TJ
0.022 Tc 0 Tw 2.181 -1.231 Td
[(approximately Euro183,297,000 \(equivalent to Rmb1,443,009,000\). It is)-3 ( )]TJ
0.025 Tc 0.066 Tw 0 -1.231 Td
(subsequently measured at amortised cost by applying effective interest )Tj
0.037 Tc 0.071 Tw 0 -1.231 Td
[(r)0.5 (a)0.5 (t)0.5 (e)12 ( )0.5 (m)0.5 (e)0.5 (t)0.5 (h)0.5 (o)0.5 (d)12 ( )0.5 (a)0.5 (f)0.5 (t)0.5 (e)0.5 (r)12.1 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (s)0.5 (i)0.5 (d)0.5 (e)0.5 (r)0.5 (i)0.5 (n)0.5 (g)12 ( )0.5 (t)0.5 (h)0.5 (e)12 ( )0.5 (e)0.5 (f)0.5 (f)0.5 (e)0.5 (c)0.5 (t)12 ( )0.5 (o)0.5 (f)12 ( )0.5 (t)0.5 (h)0.5 (e)12 ( )0.5 (i)0.5 (s)0.5 (s)0.5 (u)0.5 (a)0.6 (nc)0.5 (e)12.1 ( )0.5 (c)0.5 (o)0.5 (s)0.5 (t)0.5 (s)12 ( )0.5 (s)0.5 (u)0.5 (c)0.5 (h)12 ( )0.5 (a)0.5 (s)12 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(underwriting fee. The effective interest rate used is 4.74%.)Tj
0.033 Tc 0.075 Tw -2.181 -2.462 Td
[(\()8 (b)8 (\))8 ( )-581.5 (Derivative)8 ( )0.5 (component)8 ( )0.5 (comprises)8 ( )0.5 (conversion)8 ( )0.5 (right)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (Bondholders)8.1 ( )]TJ
0.077 Tc 0.07 Tw 2.181 -1.231 Td
[(2)12.6 (0)12.6 (2)12.6 (1)12.6 (,)12.6 ( redemption)12.6 ( option)12.6 ( of)12.6 ( the)12.6 ( Company,)12.6 ( and)12.6 ( put)12.6 ( option)12.6 ( of)12.6 ( the)52 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Bondholders 2021.)Tj
0.056 Tc 0.07 Tw -2.181 -2.462 Td
[(Transaction)12.6 ( costs)12.6 ( totalling)12.6 ( Rmb)12.6 (8)12.6 (,)12.6 (4)12.6 (2)12.6 (7)12.6 (,)12.6 (5)12.6 (1)12.6 (5)12.6 ( that)12.6 ( relate)12.6 ( to)12.6 ( the)12.6 ( issue)12.6 ( of)12.6 ( the)31 ( )]TJ
0.025 Tc 0.069 Tw 0 -1.231 Td
(Convertible Bond 2021 are allocated to the debt and derivative component\s )Tj
0 Tw 0 -1.231 Td
(in proportion to their respective fair values.)Tj
0.049 Tc 0.07 Tw 0 -2.462 Td
[(Transaction)12.4 ( costs)12.4 ( amounting)12.5 ( to)12.4 ( approximately)12.5 ( Rmb)12.4 (1)12.5 (,)12.4 (7)12.5 (1)12.4 (1)12.4 (,)12.5 (2)12.4 (4)12.5 (7)12.4 ( relating)12.4 ( to)24 ( )]TJ
0.025 Tc 0.067 Tw 0 -1.231 Td
(the derivative component were charged to profit or loss as at December 3\1, )Tj
-0.025 Tw 0 -1.231 Td
(2021)Tj
(. )Tj
0.032 Tc 0.076 Tw 2.733 0 Td
[(Issuance)7 ( )0.5 (costs)7 ( )0.5 (such)7 ( )0.5 (as)7 ( )0.5 (underwriting)6.9 ( )0.6 (fee)7 ( )0.5 (amounting)7 ( )0.6 (to)7 ( )0.5 (approximately)7 ( )]TJ
0.051 Tc 0.07 Tw -2.733 -1.231 Td
[(Rmb)12.4 (6)12.3 (,)12.4 (7)12.3 (1)12.4 (6)12.3 (,)12.3 (2)12.4 (6)12.4 (8)12.3 ( relating)12.4 ( to)12.4 ( the)12.4 ( debt)12.4 ( component)12.4 ( are)12.3 ( included)12.3 ( in)12.4 ( the)12.4 ( initial)26 ( )]TJ
0.025 Tc 0.019 Tw 0 -1.231 Td
(carrying amount of the debt portion and amortised over the remaining lif\e of )Tj
0 Tw 0 -1.231 Td
(the Convertible Bond 2021 using the effective interest method.)Tj
0.054 Tc 0.07 Tw 0 -2.462 Td
[(The)12.1 ( derivative)12.2 ( component)12.2 ( was)12.2 ( measured)12.1 ( at)12.2 ( fair)12.2 ( value)12.1 ( with)12.1 ( reference)12.1 ( to)29 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(valuation carried out by a firm of independent professional valuers.)Tj
ET

endstreamendobj84 0 obj<</Length 5007>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 21 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
0.665 Tw 13 0 3.4833 13 83.7052 773.5878 Tm
[(\(2\) )0.5 (Redemption)]TJ
/T1_0 1 Tf
0 Tw 2.84 -2.462 Td
[(\(i\) )-886.5 (Redemption at Maturity)]TJ
0.03 Tc 0.078 Tw 13 0 0 13 141.7323 709.5878 Tm
[(Unless)5 ( )0.5 (previously)5 ( )0.5 (redeemed,)4.9 ( )0.6 (converted)5 ( )0.5 (or)5 ( )0.5 (purchased)5 ( )0.5 (and)5 ( )0.5 (cancelled)5 ( )0.5 (as)5 ( )]TJ
0.025 Tc 0.069 Tw 0 -1.231 Td
(provided herein, the Company will redeem all outstanding Convertible )Tj
0.02 Tw 0 -1.231 Td
(Bonds 2021 at 100 percent of their outstanding principal amount on the )Tj
0 Tw 0 -1.231 Td
(maturity date of January 20, 2026 \(the \223)Tj
/T1_1 1 Tf
(Maturity Date 2021)Tj
/T1_0 1 Tf
-0.025 Tw (\224\).)Tj
0 Tw 13 0 3.4833 13 112.0517 629.5878 Tm
[(\(ii\) )-583.5 (Redemption at the option of the Company)]TJ
0.064 Tw 13 0 0 13 141.7323 597.5878 Tm
(The Company may, having given not less than 30 days\222 nor more than )Tj
0.055 Tc 0.07 Tw 0 -1.231 Td
[(6)12.7 (0)12.8 ( days\222)12.7 ( notice,)12.7 ( redeem)12.7 ( the)12.7 ( outstanding)12.7 ( Convertible)12.8 ( Bond)12.7 ( 2)12.7 (0)12.8 (2)12.7 (1)12.7 ( in)29.9 ( )]TJ
0.026 Tc 0.082 Tw 0 -1.231 Td
[(whole)1 ( )0.5 (and)1 ( )0.5 (not)1 ( )0.5 (some)1.1 ( )0.5 (only)1 ( )0.5 (at)1 ( )0.5 (1)1 (0)1 (0)1 ( )0.5 (percent)1 ( )0.5 (of)1 ( )0.6 (their)1 ( )0.5 (outstanding)1 ( )0.5 (principal)1 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(amount as at the relevant redemption date if:)Tj
0.06 Tw 0 -2.462 Td
[(\(a\) )-660.5 (At any time after January 20, 2024 but prior to the Maturity Date )]TJ
0.038 Tc 0.07 Tw 2.181 -1.231 Td
[(2)12.9 (0)12.9 (2)12.9 (1)12.9 (,)12.9 ( th)0.5 (e)12.9 ( closing)12.9 ( p)0.5 (rice)12.9 ( of)12.9 ( )0.5 (an)12.9 ( H)12.9 ( sha)0.5 (re)12.9 ( tra)0.5 (nslated)12.9 ( into)13 ( Euro)12.9 ( at)12.9 ( )0.5 (the)13 ( )]TJ
0.069 Tc 0 -1.231 Td
[(prevailing)12.7 ( exchange)12.7 ( rate)12.7 ( applicable)12.7 ( to)12.6 ( each)12.6 ( Stock)12.7 ( Exchange)44 ( )]TJ
0.063 Tc 0 -1.231 Td
[(b)0.5 (u)0.6 (s)0.5 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (s)13.1 ( )0.5 (d)0.5 (a)0.5 (y)0.6 (,)13 ( )0.5 (f)0.6 (o)0.5 (r)13 ( )0.6 (a)0.5 (n)0.5 (y)13.1 ( )0.5 (2)13 (0)13 ( )0.6 (b)0.5 (u)0.5 (s)0.6 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (s)13 ( )0.6 (d)0.5 (a)0.5 (y)0.6 (s)13 ( )0.5 (w)0.6 (i)0.5 (t)0.5 (h)0.5 (i)0.6 (n)13 ( )0.5 (a)13.1 ( )0.5 (p)0.5 (e)0.6 (r)0.5 (i)0.5 (o)0.6 (d)13 ( )0.5 (o)0.5 (f)13.1 ( )0.5 (3)13 (0)38 ( )]TJ
0.025 Tc 0.017 Tw 0 -1.231 Td
(consecutive Stock Exchange business days prior to the publication )Tj
0.057 Tc 0.07 Tw 0 -1.231 Td
[(of)12.6 ( such)12.6 ( redemption)12.6 ( notice,)12.6 ( the)12.6 ( last)12.6 ( day)12.7 ( of)12.6 ( such)12.6 ( business)12.6 ( days)32 ( )]TJ
0.043 Tc 0 -1.231 Td
[(shall)12.6 ( occur)12.6 ( not)12.6 ( more)12.6 ( than)12.6 ( 1)12.6 (0)12.6 ( days)12.6 ( prior)12.6 ( to)12.6 ( the)12.6 ( date)12.6 ( upon)12.6 ( which)18 ( )]TJ
0.045 Tc 0 -1.231 Td
[(notice)12.3 ( of)12.4 ( such)12.4 ( redemption)12.4 ( is)12.3 ( given,)12.4 ( was)12.3 ( at)12.3 ( least)12.3 ( 1)12.3 (3)12.4 (0)12.3 ( percent)12.4 ( of)20 ( )]TJ
0.028 Tc 0.08 Tw 0 -1.231 Td
[(the)3 ( )0.5 (prevailing)3 ( )0.5 (Conversion)3 ( )0.5 (Price)3 ( )0.5 (2)3 (0)3 (2)3 (1)3 ( )0.5 (\(translated)3 ( )0.5 (into)3 ( )0.5 (Euro)3 ( )0.5 (at)3 ( )0.5 (the)3.1 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Fixed Exchange Rate\); or)Tj
0.043 Tc 0.07 Tw -2.181 -2.462 Td
[(\()18 (b)18 (\))18 ( )-576.5 (At)12.1 ( any)12.2 ( time)12.1 ( prior)12.1 ( to)12.1 ( the)12.2 ( publication)12.1 ( of)12.1 ( such)12.1 ( redemption)12.1 ( notice,)18 ( )]TJ
0.057 Tc 2.181 -1.231 Td
[(the)12.3 ( aggregate)12.3 ( principal)12.4 ( amount)12.3 ( of)12.3 ( the)12.4 ( Convertible)12.4 ( Bond)12.4 ( 2)12.3 (0)12.4 (2)12.3 (1)32 ( )]TJ
0.059 Tc 0 -1.231 Td
[(outstanding)12.6 ( is)12.6 ( less)12.6 ( than)12.5 ( 1)12.6 (0)12.5 ( percent)12.6 ( of)12.6 ( the)12.6 ( aggregate)12.6 ( principal)34 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(amount originally issued.)Tj
13 0 3.4833 13 112.0517 261.5878 Tm
[(\(iii\) )-280.5 (Redemption at the option of the Bondholders 2021)]TJ
0.055 Tc 0.07 Tw 13 0 0 13 141.7323 229.5878 Tm
[(The)12.8 ( Company)12.8 ( will,)12.8 ( at)12.8 ( the)12.8 ( option)12.7 ( of)12.7 ( the)12.8 ( Bondholders)12.7 ( 2)12.8 (0)12.7 (2)12.8 (1)12.8 (,)12.7 ( redeem)30 ( )]TJ
0.032 Tc 0.076 Tw 0 -1.231 Td
[(the)7 ( )0.5 (whole)7 ( )0.5 (or)7.1 ( )0.5 (only)7.1 ( )0.5 (some)7 ( )0.5 (of)7 ( )0.5 (that)7 ( )0.5 (holder\222s)7 ( )0.5 (bonds)7 ( )0.5 (at)7 ( )0.5 (1)7 (0)7 (0)7 ( )0.5 (percent)7 ( )0.5 (of)7 ( )0.5 (their)7 ( )]TJ
0.049 Tc 0.07 Tw 0 -1.231 Td
[(out)0.5 (sta)0.5 (nding)13 ( pri)0.5 (nci)0.5 (pal)12.9 ( )0.5 (amou)0.5 (nt)12.9 ( o)0.5 (n)12.9 ( J)0.5 (anua)0.5 (ry)12.9 ( )0.5 (2)12.9 (0)12.9 (,)12.9 ( )0.5 (2)12.9 (0)12.9 (2)12.9 (4)12.9 (\()0.5 (the)13 ( \223)]TJ
/T1_1 1 Tf
[(P)0.5 (ut)12.9 ( Op)0.5 (tio)0.5 (n)23.9 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(Date)Tj
/T1_0 1 Tf
(\224\).)Tj
ET

endstreamendobj27 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 89 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 17 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19664>>/PageWidthList<</0 595.276>>>>>>>>endobj28 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 90 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 17 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19699>>/PageWidthList<</0 595.276>>>>>>>>endobj29 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 91 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 17 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19734>>/PageWidthList<</0 595.276>>>>>>>>endobj30 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 92 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 17 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19769>>/PageWidthList<</0 595.276>>>>>>>>endobj31 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 93 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 17 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19805>>/PageWidthList<</0 595.276>>>>>>>>endobj93 0 obj<</Length 5426>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 20 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
[(9. )-1105.5 (TRADE PAYABLES)]TJ
/T1_0 1 Tf
0.037 Tc 0.071 Tw 2.181 -2.462 Td
[(Trade)12 ( )0.5 (payables)12.1 ( mainly)12 ( )0.5 (represent)12 ( )0.5 (the)12 ( )0.5 (payables)12 ( )0.5 (for)12.1 ( )0.5 (the)12 ( )0.5 (expressway)12 ( )0.5 (improvement)12 ( )]TJ
0.025 Tc 0.074 Tw 0 -1.231 Td
(projects. The following is an aged analysis of trade payables presented \based on )Tj
0 Tw 0 -1.231 Td
(the invoice date at the end of the reporting period:)Tj
/T1_1 1 Tf
26.125 -2.462 Td
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 629.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 625.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 626.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 625.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 626.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 594.5787 Tm
(Within 3 months)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(650,547)Tj
/T1_0 1 Tf
6.541 0 Td
(537,785)Tj
0 Tw -31.561 -1.231 Td
(3 months to 1 year)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(151,292)Tj
/T1_0 1 Tf
6.541 0 Td
(124,735)Tj
0 Tw -31.561 -1.231 Td
(1 to 2 years)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(97,292)Tj
/T1_0 1 Tf
6.016 0 Td
(132,298)Tj
0 Tw -31.561 -1.231 Td
(2 to 3 years)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(59,897)Tj
/T1_0 1 Tf
6.541 0 Td
(76,991)Tj
0 Tw -32.086 -1.231 Td
(Over 3 years)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(243,144)Tj
/T1_0 1 Tf
6.541 0 Td
(271,397)Tj
ET
q 1 0 0 1 380.7874 526.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 527.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 526.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 527.5696 Tm
( )Tj
0.025 Tc -0.025 Tw -28.855 -2.462 Td
(Total)Tj
/T1_1 1 Tf
24.219 0 Td
(1,202,172)Tj
/T1_0 1 Tf
6.541 0 Td
(1,143,206)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 490.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 486.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 487.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 490.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 486.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 487.9061 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -31.036 -2.335 Td
[(10. )-580.5 (CONVERTIBLE BONDS)]TJ
/T1_0 1 Tf
-0.025 Tw 2.18 -2.462 Td
(On)Tj
0.076 Tw ( January 20, 2021, the Company issued a zero coupon convertible bond in \an )Tj
0.054 Tw 0 -1.231 Td
(aggregate principal amount of Euro230,000,000 \(the \223)Tj
/T1_1 1 Tf
(Convertible Bond 2021)Tj
/T1_0 1 Tf
-0.025 Tw (\224\). )Tj
0.055 Tc 0.07 Tw 0 -1.231 Td
[(As)12.7 ( at)12.6 ( December)12.7 ( 3)12.6 (1)12.6 (,)12.6 ( 2)12.6 (0)12.6 (2)12.6 (5)12.6 (,)12.6 ( all)12.6 ( bonds)12.6 ( of)12.6 ( the)12.6 ( Convertible)12.7 ( Bond)12.7 ( 2)12.6 (0)12.6 (2)12.6 (1)12.6 ( had)12.6 ( been)30 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(redeemed or converted.)Tj
0 -2.462 Td
(The principal terms of the Convertible Bond 2021 are as follows:)Tj
/T1_1 1 Tf
13 0 3.4833 13 83.7053 313.5571 Tm
[(\(1\) )-664.5 (Conversion right)]TJ
/T1_0 1 Tf
0.102 Tc 0.07 Tw 13 0 0 13 113.3859 281.5571 Tm
[(The)12.2 ( Convertible)12.2 ( Bond)12.1 ( 2)12.2 (0)12.1 (2)12.2 (1)12.1 ( will,)12.1 ( at)12.1 ( the)12.2 ( option)12.1 ( of)12.1 ( the)12.2 ( holder)12.2 ( \(the)77 ( )]TJ
0 Tc 0 Tw 0 -1.231 Td
(\223)Tj
/T1_1 1 Tf
0.085 Tc 0.07 Tw 0.529 0 Td
[(Bondholders)12.4 ( 2)12.4 (0)12.4 (2)12.4 (1)]TJ
/T1_0 1 Tf
9.065 0 Td
[(\224\),)12.4 ( be)12.4 ( convertible)12.4 ( \(unless)12.5 ( previously)12.5 ( redeemed,)60 ( )]TJ
0.057 Tc -9.594 -1.231 Td
[(converted)12.5 ( or)12.4 ( purchased)12.4 ( and)12.4 ( cancelled\))12.5 ( on)12.4 ( or)12.4 ( after)12.4 ( March)12.4 ( 2)12.4 (,)12.4 ( 2)12.4 (0)12.4 (2)12.5 (1)12.4 ( up)12.4 ( to)32 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(January 10, 2026 into fully paid ordinary shares with a par value of Rmb\1.00 )Tj
0.071 Tc 0.07 Tw 0 -1.231 Td
[(each)12.7 ( at)12.6 ( an)12.7 ( initial)12.7 ( conversion)12.7 ( price)12.7 ( \(the)12.7 ( \223)]TJ
/T1_1 1 Tf
[(Conversion)12.7 ( Price)12.7 ( 2)12.7 (0)12.6 (2)12.7 (1)]TJ
/T1_0 1 Tf
30.507 0 Td
[(\224\))12.7 ( of)46 ( )]TJ
0.025 Tc 0.08 Tw -30.507 -1.231 Td
(HK$8.83 per H share and a fixed exchange rate of HK$9.5145 to Euro1.00 )Tj
0.054 Tc 0.07 Tw 0 -1.231 Td
[(\(th)0.5 (e)12.9 ( \223)]TJ
/T1_1 1 Tf
[(F)0.5 (ixed)12.9 ( E)0.5 (xchan)0.5 (ge)12.9 ( R)0.5 (ate)]TJ
/T1_0 1 Tf
[(\224)0.5 (\).)12.9 ( Th)0.5 (e)12.9 ( Co)0.5 (nvers)0.5 (ion)12.9 ( Pr)0.5 (ice)12.9 ( )0.5 (2)12.9 (0)12.9 (2)12.9 (1)12.9 ( i)0.5 (s)12.9 ( subj)0.5 (ect)12.9 ( )0.5 (to)29 ( )]TJ
0.052 Tc 0 -1.231 Td
[(the)12.5 ( anti-dilutive)12.4 ( adjustments)12.4 ( and)12.4 ( certain)12.5 ( events)12.5 ( including)12.5 ( mainly:)12.5 ( share)27.1 ( )]TJ
0.042 Tc 0 -1.231 Td
[(consolidation,)12.1 ( subdivision)12.1 ( or)12.1 ( re-classification,)12.1 ( capitalisation)12.1 ( of)12.1 ( profits)12.1 ( or)17 ( )]TJ
0.025 Tc 0.049 Tw 0 -1.231 Td
(reserves, capital distributions, rights issues of shares or options over\ shares, )Tj
0 Tw 0 -1.231 Td
(rights issues of other securities and issues at less than current market\ price.)Tj
ET

endstreamendobj92 0 obj<</Length 4221>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 19 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
0.048 Tc 0.07 Tw 13 0 0 13 85.0394 773.5878 Tm
[(The)12.4 ( following)12.5 ( is)12.4 ( an)12.5 ( ageing)12.4 ( analysis)12.5 ( of)12.5 ( trade)12.5 ( receivables)12.5 ( net)12.5 ( of)12.5 ( allowance)12.5 ( for)23.1 ( )]TJ
0.025 Tc 0.074 Tw 0 -1.231 Td
(credit losses presented based on the invoice date at the end of the Peri\od, which )Tj
0 Tw 0 -1.231 Td
(approximated the respective revenue recognition dates:)Tj
/T1_1 1 Tf
26.125 -2.462 Td
(As at )Tj
-0.025 Tw -2.212 -1.231 Td
(December )Tj
1.106 -1.231 Td
(31,2025)Tj
/T1_0 1 Tf
0 Tw 7.759 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 661.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 657.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 658.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 657.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 658.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 626.5787 Tm
(Within 3 months)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(711,032)Tj
/T1_0 1 Tf
6.541 0 Td
(489,187)Tj
0 Tw -31.561 -1.231 Td
(3 months to 1 year)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(395,314)Tj
/T1_0 1 Tf
6.541 0 Td
(391,596)Tj
0 Tw -31.561 -1.231 Td
(1 to 2 years)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(242,245)Tj
/T1_0 1 Tf
6.541 0 Td
(168,839)Tj
0 Tw -31.561 -1.231 Td
(Over 2 years)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(28,593)Tj
/T1_0 1 Tf
7.866 0 Td
(876)Tj
ET
q 1 0 0 1 380.7874 574.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 575.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 574.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 575.5696 Tm
( )Tj
0.025 Tc -0.025 Tw -28.855 -2.462 Td
(Total)Tj
/T1_1 1 Tf
24.219 0 Td
(1,377,184)Tj
/T1_0 1 Tf
6.541 0 Td
(1,050,498)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 538.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 534.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 535.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 538.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 534.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 535.9061 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -28.855 -2.335 Td
(Movement of allowance for credit losses)Tj
26.125 -1.231 Td
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9325 441.5571 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0.5 w 
q 1 0 0 1 380.7874 437.1471 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1182 438.548 Tm
( )Tj
ET
q 1 0 0 1 465.8268 437.1471 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 438.548 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0395 406.5479 Tm
(At the beginning of the year)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(19,748)Tj
/T1_0 1 Tf
7.066 -0 Td
(5,748)Tj
0 Tw -32.611 -1.231 Td
(Impairment recognised for the year)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 -0 Td
(17,123)Tj
/T1_0 1 Tf
6.541 0 Td
(14,000)Tj
0 Tw -32.086 -1.231 Td
(Acquisition of a subsidiary)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(24,235)Tj
/T1_0 1 Tf
0 Tc 0 Tw 8.916 0 Td
(\226)Tj
0.025 Tc -34.461 -1.231 Td
(Reversal of written off)Tj
/T1_1 1 Tf
-0.025 Tw 26.869 0 Td
(318)Tj
/T1_0 1 Tf
0 Tc 0 Tw 7.591 0 Td
(\226)Tj
ET
q 1 0 0 1 380.7874 354.1375 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
13 0 0 13 375.1181 355.5385 Tm
( )Tj
ET
q 1 0 0 1 465.8268 354.1375 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 355.5385 Tm
( )Tj
0.025 Tc -28.855 -2.462 Td
(At the end of the year)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(61,424)Tj
/T1_0 1 Tf
6.541 0 Td
(19,748)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 317.9739 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 314.6414 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 315.8749 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 317.9739 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 314.6414 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 315.8749 Tm
( )Tj
ET

endstreamendobj91 0 obj<</Length 5196>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 18 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
[(8. )-1105.5 (TRADE RECEIVABLES)]TJ
28.306 -2.462 Td
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 693.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 689.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 690.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 689.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 690.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 658.5787 Tm
(Trade receivables comprise:)Tj
1.003 -1.231 Td
(\226 Contracts with customers)Tj
/T1_1 1 Tf
-0.025 Tw 23.216 0 Td
(1,438,608)Tj
/T1_0 1 Tf
6.541 0 Td
(1,070,246)Tj
0 Tw -30.761 -1.231 Td
(Less: Allowance for credit losses)Tj
/T1_1 1 Tf
-0.025 Tw 25.161 0 Td
(\(61,424\))Tj
/T1_0 1 Tf
6.541 0 Td
(\(19,748\))Tj
ET
q 1 0 0 1 380.7874 622.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 623.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 622.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 623.5696 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -4.636 -2.462 Td
(1,377,184)Tj
/T1_0 1 Tf
6.541 0 Td
(1,050,498)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 586.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 582.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 583.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 586.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 582.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 583.9061 Tm
( )Tj
0.025 Tc -28.855 -2.462 Td
(Trade receivables )Tj
0 Tc ( )Tj
0.025 Tc 1.003 -1.231 Td
(\(before allowance for credit losses\) comprise:)Tj
0 -1.231 Td
(Fellow subsidiaries)Tj
/T1_1 1 Tf
-0.025 Tw 24.541 0 Td
(40,203)Tj
/T1_0 1 Tf
6.541 0 Td
(16,390)Tj
0 Tw -31.083 -1.231 Td
(Third parties)Tj
/T1_1 1 Tf
-0.025 Tw 23.216 0 Td
(1,398,405)Tj
/T1_0 1 Tf
6.541 0 Td
(1,053,856)Tj
ET
0.5 w 
q 1 0 0 1 380.7874 499.4961 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 500.897 Tm
( )Tj
ET
q 1 0 0 1 465.8268 499.4961 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 500.897 Tm
( )Tj
0.025 Tc -28.855 -2.462 Td
(Total trade receivables)Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(1,438,608)Tj
/T1_0 1 Tf
6.541 0 Td
(1,070,246)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 463.3325 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 460 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 461.2335 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 463.3325 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 460 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 461.2335 Tm
( )Tj
0.067 Tc 0.07 Tw -28.855 -2.335 Td
[(The)12.4 ( Group)12.5 ( has)12.5 ( no)12.5 ( credit)12.5 ( period)12.4 ( granted)12.4 ( to)12.4 ( its)12.5 ( trade)12.4 ( customers)12.5 ( of)12.5 ( toll)12.5 ( road)42 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
[(o)0.5 (p)0.5 (e)0.6 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.6 (n)0.5 ( )0.5 (b)0.5 (u)0.5 (s)0.5 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (s)0.5 (.)0.5 ( )0.6 (T)0.5 (h)0.5 (e)0.5 ( )0.5 (G)0.6 (r)0.5 (o)0.5 (u)0.5 (p)0.5 (\222)0.5 (s)0.6 ( )0.5 (t)0.5 (r)0.5 (a)0.6 (d)0.5 (e)0.5 ( )0.5 (r)0.5 (e)0.6 (c)0.5 (e)0.5 (i)0.5 (v)0.5 (a)0.6 (b)0.5 (l)0.5 (e)0.5 ( )0.5 (b)0.6 (a)0.5 (l)0.5 (a)0.5 (n)0.5 (c)0.6 (e)0.5 ( )0.5 (f)0.5 (o)0.5 (r)0.6 ( )0.5 (t)0.5 (o)0.5 (l)0.5 (l)0.5 ( )0.6 (r)0.5 (o)0.5 (a)0.5 (d)0.5 ( )0.6 (o)0.5 (p)0.5 (e)0.5 (r)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)0.5 ( )0.5 (i)0.5 (s )]TJ
0.051 Tw 0 -1.231 Td
(toll receivables from the respective expressway fee settlement centre of\ Zhejiang )Tj
0.061 Tc 0.07 Tw 0 -1.231 Td
[(Province)12.6 ( and)12.6 ( Anhui)12.6 ( Province,)12.6 ( Transportation)12.6 ( Bureau)12.6 ( of)12.6 ( Linping)12.6 ( County)12.6 ( of)36 ( )]TJ
0.025 Tc 0.079 Tw 0 -1.231 Td
[(Hangzhou, Transportation )0.5 (Bureau of )0.5 (Hangzhou, Transportation Bureau of Yiwu, )]TJ
0.027 Tc 0.081 Tw 0 -1.231 Td
[(Transportation)2 ( )0.5 (Bureau)2 ( )0.5 (of)2 ( )0.5 (Linan)2 ( )0.5 (of)2 ( )0.5 (Hangzhou,)2 ( )0.5 (Transportation)2 ( )0.5 (Bureau)2 ( of)2 ( )0.5 (Jiaxing,)1.9 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(etc.)Tj
0.044 Tc 0.07 Tw 0 -2.462 Td
[(In)12.8 ( respect)12.8 ( of)12.8 ( the)12.8 ( Group\222s)12.8 ( asset)12.7 ( management)12.8 ( service,)12.8 ( security)12.7 ( commission)12.8 ( and)19 ( )]TJ
0.025 Tc 0.043 Tw 0 -1.231 Td
(financial advisory service operated by Zheshang Securities Co., Ltd. \(\223\)Tj
/T1_1 1 Tf
-0.025 Tw (Zheshang )Tj
0.036 Tc -0.036 Tw 0 -1.231 Td
(Securities)Tj
/T1_0 1 Tf
0.072 Tw [(\224\),)11 ( )0.5 (trading)11 ( )0.5 (limits)11 ( )0.5 (are)11 ( )0.5 (set)11 ( )0.5 (for)11 ( )0.5 (customers.)11 ( )0.5 (The)11.1 ( )0.5 (Group)11 ( )0.5 (seeks)11 ( )0.5 (to)11 ( )0.5 (maintain)11 ( )]TJ
0.025 Tc 0.071 Tw 0 -1.231 Td
(tight control over its outstanding accounts receivable in order to minim\ise credit )Tj
0 Tw 0 -1.231 Td
(risk. Overdue balances are regularly monitored by the management.)Tj
ET

endstreamendobj90 0 obj<</Length 4527>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 17 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
[(7. )-1105.5 (EARNINGS PER SHARE)]TJ
/T1_0 1 Tf
0.046 Tc 0.07 Tw 2.181 -2.462 Td
[(The)12.4 ( calculation)12.5 ( of)12.5 ( the)12.4 ( basic)12.4 ( and)12.4 ( diluted)12.4 ( earnings)12.5 ( per)12.5 ( share)12.5 ( attributable)12.4 ( to)12.4 ( the)21 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(owners of the Company is based on the following data:)Tj
0 -2.462 Td
(Earnings figures are calculated as follows:)Tj
/T1_1 1 Tf
24.602 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 613.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 609.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 610.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 609.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 610.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 578.5787 Tm
(Profit for the year attributable to owners of the )Tj
-0.025 Tw 1.003 -1.231 Td
(Company)Tj
/T1_1 1 Tf
23.216 0 Td
(5,324,958)Tj
/T1_0 1 Tf
6.541 0 Td
(5,501,588)Tj
0 Tw -30.761 -1.231 Td
(Earnings for the purpose of basic earnings per share)Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(5,324,958)Tj
/T1_0 1 Tf
6.541 0 Td
(5,501,588)Tj
0 Tw -30.761 -1.231 Td
(Effect of dilutive potential ordinary shares arising )Tj
1.003 -1.231 Td
(from convertible bond)Tj
/T1_1 1 Tf
0 Tc 26.916 0 Td
(\226)Tj
/T1_0 1 Tf
0.025 Tc -0.025 Tw 3.784 0 Td
(\(41,723\))Tj
ET
q 1 0 0 1 380.7874 510.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 511.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 510.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 511.5696 Tm
( )Tj
0.025 Tc -28.855 -2.462 Td
(Earnings for the purpose of diluted earnings per )Tj
-0.025 Tw 1.003 -1.231 Td
(share)Tj
/T1_1 1 Tf
23.216 0 Td
(5,324,958)Tj
/T1_0 1 Tf
6.541 0 Td
(5,459,865)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 458.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 454.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 455.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 458.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 454.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 455.9061 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -28.855 -2.335 Td
(Number of shares)Tj
24.602 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 428.3502 345.5571 Tm
(\222000)Tj
/T1_0 1 Tf
6.541 0 Td
(\222000)Tj
ET
0.5 w 
q 1 0 0 1 380.7874 341.147 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1182 342.548 Tm
( )Tj
ET
q 1 0 0 1 465.8268 341.147 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 342.548 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0395 310.548 Tm
(Weighted average number of ordinary shares for the )Tj
1.003 -1.231 Td
(purpose of basic earnings per share)Tj
/T1_1 1 Tf
-0.025 Tw 23.216 0 Td
(6,008,748)Tj
/T1_0 1 Tf
6.541 0 Td
(5,993,568)Tj
0 Tw -30.761 -1.231 Td
(Effect of dilutive potential ordinary shares arising )Tj
1.003 -1.231 Td
(from convertible bond)Tj
/T1_1 1 Tf
0 Tc 26.916 0 Td
(\226)Tj
/T1_0 1 Tf
0.025 Tc -0.025 Tw 4.166 0 Td
(39,271)Tj
ET
q 1 0 0 1 380.7875 258.1379 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 259.5389 Tm
( )Tj
ET
q 1 0 0 1 465.8268 258.1379 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1576 259.5389 Tm
( )Tj
0.025 Tc -28.855 -2.462 Td
(Weighted average number of ordinary shares for the )Tj
1.003 -1.231 Td
(purpose of diluted earnings per share)Tj
/T1_1 1 Tf
-0.025 Tw 23.216 0 Td
(6,008,748)Tj
/T1_0 1 Tf
6.541 0 Td
(6,032,839)Tj
ET
2.5 w 
q 1 0 0 1 380.7875 205.9744 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7875 202.6419 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 203.8754 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 205.9744 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8269 202.6419 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1576 203.8754 Tm
( )Tj
0.025 Tc -0.025 Tw 11 0 2.9474 11 83.9106 175.5264 Tm
(Note)Tj
0.002 Tw 11 0 0 11 107.5231 175.5264 Tm
[(: )47 (During the Period, the remaining convertible bonds were fully converted,\ therefore there is )]TJ
0 Tw 0.533 -1.273 Td
(no further diluted effect in the calculation of diluted earnings per sha\re.)Tj
ET

endstreamendobj89 0 obj<</Length 5677>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 16 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
0.019 Tw 13 0 0 13 85.0394 773.5878 Tm
(The income tax expense for the year can be reconciled to the profit befo\re tax per )Tj
0.033 Tc 0.075 Tw 0 -1.231 Td
[(the)8 ( )0.5 (consolidated)8 ( )0.5 (statement)8 ( )0.5 (of)8 ( )0.6 (profit)8 ( )0.6 (or)8 ( )0.5 (loss)8 ( )0.5 (and)8 ( )0.5 (other)8 ( )0.5 (comprehensive)8 ( )0.5 (income)8 ( )0.5 (as)8 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(follows:)Tj
/T1_1 1 Tf
0 Tw 24.602 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 661.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 657.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 658.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 657.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 658.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 626.5787 Tm
(Profit before tax)Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(9,789,587)Tj
/T1_0 1 Tf
6.541 0 Td
(8,857,582)Tj
0 Tw -30.761 -1.231 Td
(Tax at the PRC EIT rate of 25% \(2024: 25%\))Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(2,447,397)Tj
/T1_0 1 Tf
6.541 0 Td
(2,214,396)Tj
0 Tw -30.761 -1.231 Td
(Effect of different tax rates)Tj
/T1_1 1 Tf
-0.025 Tw 25.686 0 Td
(\(1,513\))Tj
/T1_0 1 Tf
0 Tc 0 Tw 8.774 0 Td
(\226)Tj
0.025 Tc -34.461 -1.231 Td
(Tax effect of share of profit of associates)Tj
/T1_1 1 Tf
-0.025 Tw 24.636 0 Td
(\(293,928\))Tj
/T1_0 1 Tf
6.541 0 Td
(\(234,850\))Tj
0 Tw -31.178 -1.231 Td
(Tax effect of share of profit of joint ventures)Tj
/T1_1 1 Tf
-0.025 Tw 25.161 0 Td
(\(37,075\))Tj
/T1_0 1 Tf
6.541 0 Td
(\(32,686\))Tj
0 Tw -31.703 -1.231 Td
(Tax effect of tax losses )Tj
-0.025 Tw (and)Tj
0 Tw ( temporary )Tj
-0.025 Tw (difference)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc 1.003 -1.231 Td
(not recognised)Tj
/T1_1 1 Tf
-0.025 Tw 24.541 0 Td
(56,568)Tj
/T1_0 1 Tf
6.541 0 Td
(28,922)Tj
0 Tw -32.086 -1.231 Td
(Utilisation of unused tax losses previously not )Tj
-0.025 Tw 1.003 -1.231 Td
(recognised)Tj
/T1_1 1 Tf
24.683 0 Td
(\(7,064\))Tj
/T1_0 1 Tf
6.016 0 Td
(\(40,015\))Tj
0 Tw -31.703 -1.231 Td
(Tax effect of expenses not deductible for tax )Tj
-0.025 Tw 1.003 -1.231 Td
(purposes)Tj
/T1_1 1 Tf
24.541 0 Td
(45,701)Tj
/T1_0 1 Tf
6.541 0 Td
(47,983)Tj
0 Tw -32.086 -1.231 Td
(Tax effect of income not subject to tax)Tj
/T1_1 1 Tf
-0.025 Tw 24.636 0 Td
(\(284,036\))Tj
/T1_0 1 Tf
6.541 0 Td
(\(282,646\))Tj
ET
q 1 0 0 1 380.7874 446.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 447.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 446.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 447.5696 Tm
( )Tj
0.025 Tc -28.855 -2.462 Td
(Income tax expense for the year)Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(1,926,050)Tj
/T1_0 1 Tf
6.541 0 Td
(1,701,104)Tj
ET
2.5 w 
q 1 0 0 1 380.7875 410.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7875 406.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 407.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 410.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8269 406.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1576 407.9061 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc 1.106 Tw -31.036 -2.335 Td
[(6. )0.5 (DIVIDENDS)]TJ
0 Tw 26.782 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9325 297.5571 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0.5 w 
q 1 0 0 1 380.7874 293.147 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1182 294.548 Tm
( )Tj
ET
q 1 0 0 1 465.8268 293.147 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 294.548 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0395 262.548 Tm
(Dividends recognised as distribution )Tj
0 Tc ( )Tj
0.025 Tc 1.003 -1.231 Td
(during the year:)Tj
0 -1.231 Td
(2024 \226 Rmb38.5 cents )Tj
0 Tc ( )Tj
0.025 Tc 1.003 -1.231 Td
(\(2024: 2023 \226 Rmb32.0 cents\))Tj
/T1_1 1 Tf
-0.025 Tw 22.213 0 Td
(2,307,613)Tj
/T1_0 1 Tf
6.541 0 Td
(1,917,919)Tj
ET
2.5 w 
q 1 0 0 1 380.7875 208.9835 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7875 205.651 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 206.8845 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 208.9835 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8269 205.651 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1576 206.8845 Tm
( )Tj
0.051 Tc 0.07 Tw -28.855 -2.335 Td
[(Dividend)12.4 ( of)12.5 ( Rmb)12.5 (3)12.5 (9)12.5 (.)12.4 (5)12.5 ( cents)12.5 ( per)12.4 ( share)12.5 ( in)12.5 ( respect)12.5 ( of)12.5 ( the)12.4 ( year)12.5 ( ended)12.5 ( December)26 ( )]TJ
0.06 Tc 0 -1.231 Td
[(3)12.9 (1)13 (,)12.9 ( 2)12.9 (0)13 (2)12.9 (5)12.9 ( \()13 (2)12.9 (0)12.9 (2)13 (4)12.9 (:)12.9 ( d)0.5 (ivi)0.5 (den)0.5 (d)12.9 ( of)13 ( Rm)0.5 (b)12.9 (3)12.9 (8)12.9 (.)13 (5)12.9 ( c)0.5 (ent)0.5 (s)12.9 ( p)0.5 (er)12.9 ( )0.5 (sha)0.5 (re)12.9 ( )0.5 (in)12.9 ( )0.5 (res)0.5 (pec)0.5 (t)12.9 ( o)0.5 (f)12.9 ( t)0.5 (he)12.9 ( )0.5 (yea)0.5 (r)35 ( )]TJ
0.046 Tc 0.083 Tw 0 -1.231 Td
[(e)-12.8 (n)-12.8 (d)-12.8 (e)-12.8 (d D)-12.7 (e)-12.8 (c)-12.8 (e)-12.8 (m)-12.8 (b)-12.8 (e)-12.8 (r 31, 2024\) i)-12.8 (n t)-12.8 (h)-12.8 (e t)-12.8 (o)-12.8 (t)-12.8 (a)-12.8 (l a)-12.8 (m)-12.8 (o)-12.8 (u)-12.7 (n)-12.9 (t o)-12.8 (f R)-12.8 (m)-12.8 (b2,385,055,000 \(2024:)21.1 ( )]TJ
0.025 Tc 0.01 Tw 0 -1.231 Td
(Rmb2,307,613,000\) has been proposed by the Directors and is subject to \approval )Tj
0 Tw 0 -1.231 Td
(by the shareholders at the ASM.)Tj
ET

endstreamendobj22 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 94 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 16 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19488>>/PageWidthList<</0 595.276>>>>>>>>endobj23 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 95 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 16 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19523>>/PageWidthList<</0 595.276>>>>>>>>endobj24 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 96 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 16 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19558>>/PageWidthList<</0 595.276>>>>>>>>endobj25 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 97 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 16 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19594>>/PageWidthList<</0 595.276>>>>>>>>endobj26 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 98 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 16 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19628>>/PageWidthList<</0 595.276>>>>>>>>endobj98 0 obj<</Length 4986>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 15 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 56.6929 773.5878 Tm
[(4. )-1105.5 (OTHER INCOME AND GAINS AND LOSSES)]TJ
26.782 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 693.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 689.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 690.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 689.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 690.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 658.5787 Tm
(Interest income from financial institutions)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(480,118)Tj
/T1_0 1 Tf
6.541 0 Td
(474,167)Tj
0 Tw -31.561 -1.231 Td
(Rental income)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(74,542)Tj
/T1_0 1 Tf
6.541 0 Td
(73,727)Tj
0 Tw -32.086 -1.231 Td
(Losses on changes in fair value in respect of the )Tj
1.003 -1.231 Td
(derivative component of convertible bond)Tj
/T1_1 1 Tf
-0.025 Tw 24.158 0 Td
(\(10,022\))Tj
/T1_0 1 Tf
7.066 0 Td
(\(2,676\))Tj
0 Tw -32.228 -1.231 Td
(Exchange gains/\(losses\), net)Tj
/T1_1 1 Tf
-0.025 Tw 26.069 0 Td
(3,185)Tj
/T1_0 1 Tf
6.958 0 Td
(\(780\))Tj
0 Tw -33.028 -1.231 Td
(\(Loss\)/gain on commodity trading, net)Tj
/T1_1 1 Tf
-0.025 Tw 25.161 0 Td
(\(20,220\))Tj
/T1_0 1 Tf
6.924 0 Td
(64,009)Tj
0 Tw -32.086 -1.231 Td
(Management fee income)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(27,641)Tj
/T1_0 1 Tf
6.541 0 Td
(27,135)Tj
0 Tw -32.086 -1.231 Td
(Government subsidy)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(66,895)Tj
/T1_0 1 Tf
6.541 0 Td
(69,485)Tj
0 Tw -32.086 -1.231 Td
(Gain on disposal of assets)Tj
/T1_1 1 Tf
-0.025 Tw 26.069 0 Td
(6,022)Tj
/T1_0 1 Tf
6.016 0 Td
(26,736)Tj
-32.086 -1.231 Td
(Others)Tj
/T1_1 1 Tf
25.019 0 Td
(174,172)Tj
/T1_0 1 Tf
6.541 0 Td
(157,342)Tj
ET
q 1 0 0 1 380.7874 510.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 511.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 510.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 511.5696 Tm
( )Tj
0.025 Tc -0.025 Tw -28.855 -2.462 Td
(Total)Tj
/T1_1 1 Tf
25.019 0 Td
(802,333)Tj
/T1_0 1 Tf
6.541 0 Td
(889,145)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 474.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 470.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 471.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 474.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 470.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 471.9061 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -31.036 -2.335 Td
[(5. )-1105.5 (INCOME TAX EXPENSE)]TJ
26.782 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9325 361.5571 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0.5 w 
q 1 0 0 1 380.7874 357.147 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1182 358.548 Tm
( )Tj
ET
q 1 0 0 1 465.8268 357.147 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 358.548 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0395 326.548 Tm
(Current Tax:)Tj
1.003 -1.231 Td
(PRC Enterprise Income Tax \(\223)Tj
/T1_1 1 Tf
-0.025 Tw (EIT)Tj
/T1_0 1 Tf
(\224\))Tj
/T1_1 1 Tf
23.216 0 Td
(2,096,445)Tj
/T1_0 1 Tf
6.541 0 Td
(1,508,683)Tj
0 Tw -29.758 -1.231 Td
(Deferred tax)Tj
/T1_1 1 Tf
-0.025 Tw 23.633 0 Td
(\(170,395\))Tj
/T1_0 1 Tf
6.924 0 Td
(192,421)Tj
ET
q 1 0 0 1 380.7874 290.1379 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 291.5389 Tm
( )Tj
ET
q 1 0 0 1 465.8268 290.1379 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 291.5389 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -4.636 -2.462 Td
(1,926,050)Tj
/T1_0 1 Tf
6.541 0 Td
(1,701,104)Tj
ET
2.5 w 
q 1 0 0 1 380.7875 253.9744 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7875 250.6419 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1182 251.8754 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 253.9744 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8269 250.6419 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1576 251.8754 Tm
( )Tj
0.038 Tc 0.07 Tw -28.855 -2.335 Td
[(Under)12.6 ( the)12.6 ( Law)12.6 ( of)12.7 ( the)12.6 ( PRC)12.6 ( on)12.6 ( EIT)12.6 ( and)12.6 ( Implementation)12.6 ( Regulations)12.6 ( of)12.6 ( the)12.6 ( EIT)13 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(Law, the tax rate of the PRC subsidiaries is 25%.)Tj
0.08 Tw 0 -2.462 Td
(Pursuant to the relevant tax ordinance of the Hong Kong Special Administ\rative )Tj
0.045 Tc 0.07 Tw 0 -1.231 Td
[(Region,)12.1 ( Hong)12.1 ( Kong)12.1 ( profits)12.2 ( tax)12.1 ( has)12.1 ( been)12.1 ( provided)12 ( at)12.1 ( the)12.1 ( rate)12.1 ( of)12.1 ( 1)12.1 (6)12.1 (.)12.1 (5)12.1 (%)12 ( on)12.1 ( the)20 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(estimated assessable profits arising in Hong Kong.)Tj
ET

endstreamendobj97 0 obj<</Length 3599>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 14 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 85.0394 773.5878 Tm
(Revenue from major services)Tj
/T1_0 1 Tf
0.049 Tw 0 -2.462 Td
(An analysis of the Group\222s revenue, net of discounts and taxes, for t\he year is as )Tj
-0.025 Tw 0 -1.231 Td
(follows:)Tj
/T1_1 1 Tf
0 Tw 24.602 -2.462 Td
(For the year ended )Tj
1.2 -1.231 Td
(December 31,)Tj
-0.025 Tw 0.542 -1.231 Td
(2025)Tj
/T1_0 1 Tf
6.541 0 Td
(2024)Tj
/T1_1 1 Tf
13 0 3.4833 13 399.9324 645.5878 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 380.7874 641.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 375.1181 642.5787 Tm
( )Tj
ET
q 1 0 0 1 465.8268 641.1777 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 460.1575 642.5787 Tm
( )Tj
0.025 Tc 13 0 0 13 85.0394 610.5787 Tm
(Toll road operation revenue)Tj
/T1_1 1 Tf
-0.025 Tw 23.694 0 Td
(10,387,655)Tj
/T1_0 1 Tf
6.541 0 Td
(10,662,346)Tj
0 Tw -30.236 -1.231 Td
(Commission and fee income from securities )Tj
-0.025 Tw 1.003 -1.231 Td
(operation)Tj
/T1_1 1 Tf
23.216 0 Td
(4,642,996)Tj
/T1_0 1 Tf
6.541 0 Td
(3,692,147)Tj
0 Tw -30.761 -1.231 Td
(Interest income from securities operation)Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(2,907,617)Tj
/T1_0 1 Tf
6.541 0 Td
(2,490,359)Tj
0 Tw -30.761 -1.231 Td
(Hotel and catering revenue)Tj
/T1_1 1 Tf
-0.025 Tw 25.019 0 Td
(101,628)Tj
/T1_0 1 Tf
6.541 0 Td
(108,251)Tj
0 Tw -31.561 -1.231 Td
(Construction service revenue)Tj
/T1_1 1 Tf
-0.025 Tw 24.219 0 Td
(1,690,252)Tj
/T1_0 1 Tf
6.541 0 Td
(1,070,362)Tj
0 Tw -30.761 -1.231 Td
(Revenue from PPP project)Tj
/T1_1 1 Tf
-0.025 Tw 25.544 0 Td
(25,342)Tj
/T1_0 1 Tf
6.541 0 Td
(41,359)Tj
ET
q 1 0 0 1 380.7874 510.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 511.5696 Tm
( )Tj
ET
q 1 0 0 1 465.8268 510.1686 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 511.5696 Tm
( )Tj
0.025 Tc -0.025 Tw -28.855 -2.462 Td
(Total)Tj
/T1_1 1 Tf
23.694 0 Td
(19,755,490)Tj
/T1_0 1 Tf
6.541 0 Td
(18,064,824)Tj
ET
2.5 w 
q 1 0 0 1 380.7874 474.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 380.7874 470.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 375.1181 471.9061 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 465.8268 474.0051 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 465.8268 470.6726 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 460.1575 471.9061 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -28.855 -2.335 Td
(Geographical information)Tj
/T1_0 1 Tf
0.03 Tc 0.078 Tw 0 -2.462 Td
[(The)5 ( )0.5 (Group\222s)5 ( )0.5 (operations)5 ( )0.5 (are)5 ( )0.5 (located)5 ( )0.5 (in)5 ( )0.5 (the)5.1 ( )0.5 (PRC.)5 ( )0.5 (The)5 ( )0.5 (Group\222s)5 ( )0.5 (non-current)4.9 ( )0.5 (assets)5 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(are located in the PRC )Tj
(\(country of domicile\))Tj
0 Tc (.)Tj
0.044 Tc 0.07 Tw 0 -2.462 Td
[(All)12.2 ( of)12.2 ( the)12.2 ( Group\222s)12.2 ( revenue)12.1 ( from)12.2 ( external)12.2 ( customers)12.1 ( is)12.1 ( attributed)12.1 ( to)12.1 ( the)12.2 ( group)19 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(entities\222 country of domicile \(i.e. the PRC\).)Tj
/T1_1 1 Tf
0 -2.462 Td
(Information about major customers)Tj
/T1_0 1 Tf
0.042 Tc 0.07 Tw 0 -2.462 Td
[(During)12.1 ( the)12.2 ( years)12.1 ( ended)12.1 ( December)12.1 ( 3)12.1 (1)12.1 (,)12.1 ( 2)12.1 (0)12.2 (2)12.1 (5)12.1 ( and)12.2 ( 2)12.1 (0)12.1 (2)12.1 (4)12.1 (,)12.2 ( there)12.2 ( was)12.1 ( no)12.1 ( individual)17 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(customer with sales over 10% of the total revenue of the Group.)Tj
ET

endstreamendobj96 0 obj<</Length 4738>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 13 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
13 0 0 13 85.0394 773.5878 Tm
(For the year ended December 31, 2024)Tj
-0.025 Tw 10.4 0 0 13 282.3557 741.5878 Tm
(Toll )Tj
0 Tc 0 Tw 10.4 0 0 13 303.4371 741.5878 Tm
( )Tj
0.025 Tc -0.025 Tw 10.4 0 0 13 259.1121 725.5878 Tm
(operation)Tj
7.44 1.231 Td
(Securities )Tj
0.192 -1.231 Td
(operation)Tj
8.818 0 Td
(Others)Tj
8.212 0 Td
(Total)Tj
10.4 0 3.4833 13 258.2873 709.5878 Tm
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 232.4409 705.1777 cm
0 0 m
68.031 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 226.7717 706.5787 Tm
( )Tj
ET
q 1 0 0 1 311.811 705.1777 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 306.1417 706.5787 Tm
( )Tj
ET
q 1 0 0 1 391.1811 705.1777 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 385.5118 706.5787 Tm
( )Tj
ET
q 1 0 0 1 470.5512 705.1777 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 464.8819 706.5787 Tm
( )Tj
0.025 Tc 10.4 0 0 13 85.0394 674.5787 Tm
(Income tax expense)Tj
-0.025 Tw 16.515 0 Td
(1,279,788)Tj
8.432 0 Td
(416,940)Tj
8.682 0 Td
(4,376)Tj
5.782 0 Td
(1,701,104)Tj
0 Tw -39.41 -1.231 Td
(Interest income from financial )Tj
-0.025 Tw 1.008 -1.231 Td
(institutions)Tj
16.306 0 Td
(473,839)Tj
0 Tc 0 Tw 10.532 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 6.582 0 Td
(328)Tj
5.782 0 Td
(474,167)Tj
0 Tw -40.21 -1.231 Td
(Interest expenses)Tj
-0.025 Tw 17.315 0 Td
(756,301)Tj
7.632 0 Td
(966,160)Tj
8.157 0 Td
(19,190)Tj
6.307 0 Td
(1,741,651)Tj
0 Tw -39.41 -1.231 Td
(Impairment losses on loans )Tj
1.008 -1.231 Td
(to customers arising from )Tj
0 -1.231 Td
(margin financing business, )Tj
0 -1.231 Td
(recognised in profit or loss)Tj
0 Tc 19.206 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 5.782 0 Td
(7,613)Tj
0 Tc 0 Tw 9.482 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 5.782 0 Td
(7,613)Tj
0 Tw -41.26 -1.231 Td
(Impairment losses on trade )Tj
1.008 -1.231 Td
(receivables, net of reversal)Tj
-0.025 Tw 16.831 0 Td
(14,986)Tj
8.574 0 Td
(\(754\))Tj
7.632 0 Td
(\(232\))Tj
6.69 0 Td
(14,000)Tj
0 Tw -40.735 -1.231 Td
(Interests in associates)Tj
-0.025 Tw 16.515 0 Td
(2,725,259)Tj
7.632 0 Td
(5,909,180)Tj
7.632 0 Td
(8,576,300)Tj
7.107 0 Td
(17,210,739)Tj
0 Tw -38.885 -1.231 Td
(Interests in joint ventures)Tj
-0.025 Tw 16.515 0 Td
(2,400,437)Tj
0 Tc 0 Tw 11.332 0 Td
(\226)Tj
7.632 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(2,400,437)Tj
0 Tw -39.41 -1.231 Td
(Share of profit of associates)Tj
-0.025 Tw 17.315 0 Td
(184,608)Tj
8.299 0 Td
(\(6,722\))Tj
6.965 0 Td
(761,513)Tj
7.632 0 Td
(939,399)Tj
0 Tw -40.21 -1.231 Td
(Share of profit of joint ventures)Tj
-0.025 Tw 17.315 0 Td
(130,742)Tj
0 Tc 0 Tw 10.532 0 Td
(\226)Tj
7.632 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 4.732 0 Td
(130,742)Tj
0 Tw -40.21 -1.231 Td
(Net gains arising from financial )Tj
1.008 -1.231 Td
(assets at FVTPL)Tj
0 Tc 19.206 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(1,493,929)Tj
0 Tc 0 Tw 11.332 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(1,493,929)Tj
0 Tw -39.41 -1.231 Td
(Loss on changes in fair value )Tj
1.008 -1.231 Td
(in respect of the derivative )Tj
0 -1.231 Td
(component of convertible )Tj
-0.025 Tw 0 -1.231 Td
(bond)Tj
16.973 0 Td
(\(2,676\))Tj
0 Tc 0 Tw 9.865 0 Td
(\226)Tj
7.632 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 5.399 0 Td
(\(2,676\))Tj
0 Tw -40.877 -1.231 Td
(Additions to non-current assets )Tj
-0.025 Tw 10.4 0 3.4833 13 95.5276 338.5787 Tm
(\(Note\))Tj
10.4 0 0 13 256.7925 338.5787 Tm
(2,498,934)Tj
7.632 0 Td
(5,496,595)Tj
8.957 0 Td
(55,404)Tj
6.307 0 Td
(8,050,933)Tj
0 Tw -39.41 -1.231 Td
(Depreciation and amortization)Tj
-0.025 Tw 16.515 0 Td
(3,394,018)Tj
8.432 0 Td
(394,119)Tj
8.157 0 Td
(24,289)Tj
6.307 0 Td
(3,812,426)Tj
11 0 2.9474 11 83.9105 294.2296 Tm
(Note)Tj
0.046 Tc -0.066 Tw 11 0 0 11 107.523 294.2296 Tm
[(:)21 ( Addition)]TJ
0 Tc 0 Tw (s)Tj
0.046 Tc 0.07 Tw 4.883 0 Td
[( to)12.1 ( non-current)12.2 ( assets)12.1 ( )]TJ
-0.046 Tw (consist)Tj
0.07 Tw 13.175 0 Td
[( of)12.1 ( additions)12.2 ( to)12.1 ( property,)12.1 ( plant)12.1 ( and)12.2 ( equipment,)21 ( )]TJ
0.057 Tc -17.525 -1.273 Td
[(e)0.5 (xp)0.5 (re)0.5 (ss)0.5 (wa)0.5 (y)13 ( op)0.5 (e)0.5 (ra)0.5 (ti)0.5 (ng)13 ( r)0.5 (ig)0.5 (ht)0.5 (s,)13 ( o)0.5 (th)0.5 (er)13 ( i)0.5 (nt)0.5 (an)0.5 (gi)0.5 (bl)0.5 (e)12.9 ( )0.5 (as)0.5 (s)0.5 (et)0.5 (s,)13 ( r)0.5 (ig)0.5 (ht)0.5 (-o)0.5 (f-)0.5 (us)0.5 (e)12.9 ( )0.5 (as)0.5 (s)0.5 (et)0.5 (s,)13 ( i)0.5 (nt)0.5 (er)0.5 (es)0.5 (ts)13 ( )0.5 (in)32 ( )]TJ
0.058 Tc 0 -1.273 Td
[(associates)12.7 ( and)12.7 ( interests)12.7 ( in)12.7 ( joint)12.7 ( ventures)12.7 ( \(including)12.7 ( assets)12.7 ( from)12.7 ( the)12.7 ( acquisition)12.7 ( of)12.7 ( a)33 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.273 Td
(subsidiary\).)Tj
ET

endstreamendobj95 0 obj<</Length 4171>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 12 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 85.0394 773.5878 Tm
(Other segment information)Tj
/T1_0 1 Tf
0 -2.462 Td
(Amounts included in the measure of segment profit/\(loss\) or segment as\sets:)Tj
/T1_1 1 Tf
0 -2.462 Td
(For the year ended December 31, 2025)Tj
-0.025 Tw 10.4 0 0 13 281.7733 677.5878 Tm
(Toll )Tj
-2.513 -1.231 Td
(operation)Tj
7.552 1.231 Td
(Securities )Tj
0.08 -1.231 Td
(operation)Tj
8.874 0 Td
(Others)Tj
8.323 0 Td
(Total)Tj
10.4 0 3.4833 13 256.5611 645.5878 Tm
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 232.4409 641.1777 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_0 1 Tf
0 Tc 0 Tw 13 0 0 13 226.7717 642.5787 Tm
( )Tj
ET
q 1 0 0 1 311.811 641.1777 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 306.1417 642.5787 Tm
( )Tj
ET
q 1 0 0 1 391.1811 641.1777 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 385.5118 642.5787 Tm
( )Tj
ET
q 1 0 0 1 470.5512 641.1777 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 464.8819 642.5787 Tm
( )Tj
0.025 Tc 10.4 0 0 13 85.0394 594.5787 Tm
(Income tax expense)Tj
/T1_1 1 Tf
-0.025 Tw 16.515 0 Td
(1,309,738)Tj
8.432 0 Td
(616,312)Tj
0 Tc 0 Tw 10.532 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(1,926,050)Tj
/T1_0 1 Tf
0 Tw -39.41 -1.231 Td
(Interest income from financial )Tj
-0.025 Tw 1.008 -1.231 Td
(institutions)Tj
/T1_1 1 Tf
16.306 0 Td
(479,922)Tj
0 Tc 0 Tw 10.532 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 6.582 0 Td
(196)Tj
5.782 0 Td
(480,118)Tj
/T1_0 1 Tf
0 Tw -40.21 -1.231 Td
(Interest expenses)Tj
/T1_1 1 Tf
-0.025 Tw 17.315 0 Td
(545,922)Tj
7.632 0 Td
(988,214)Tj
8.157 0 Td
(12,770)Tj
6.307 0 Td
(1,546,906)Tj
/T1_0 1 Tf
0 Tw -39.41 -1.231 Td
(Impairment losses on loans )Tj
1.008 -1.231 Td
(to customers arising from )Tj
0 -1.231 Td
(margin financing business, )Tj
0 -1.231 Td
(recognised in profit or loss)Tj
/T1_1 1 Tf
0 Tc 19.206 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 5.257 0 Td
(10,397)Tj
0 Tc 0 Tw 10.007 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 5.257 0 Td
(10,397)Tj
/T1_0 1 Tf
0 Tw -40.735 -1.231 Td
(Impairment losses on trade )Tj
1.008 -1.231 Td
(receivables, net of reversal)Tj
/T1_1 1 Tf
-0.025 Tw 17.356 0 Td
(9,237)Tj
7.632 0 Td
(6,278)Tj
7.632 0 Td
(1,608)Tj
7.107 0 Td
(17,123)Tj
/T1_0 1 Tf
0 Tw -40.735 -1.231 Td
(Interests in associates)Tj
/T1_1 1 Tf
-0.025 Tw 16.515 0 Td
(2,531,116)Tj
7.632 0 Td
(3,547,618)Tj
7.632 0 Td
(8,791,494)Tj
7.107 0 Td
(14,870,228)Tj
/T1_0 1 Tf
0 Tw -38.885 -1.231 Td
(Interests in joint ventures)Tj
/T1_1 1 Tf
-0.025 Tw 16.515 0 Td
(3,280,335)Tj
0 Tc 0 Tw 11.332 0 Td
(\226)Tj
7.632 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(3,280,335)Tj
/T1_0 1 Tf
0 Tw -39.41 -1.231 Td
(Share of profit of associates)Tj
/T1_1 1 Tf
-0.025 Tw 17.315 0 Td
(219,403)Tj
7.632 0 Td
(189,405)Tj
7.632 0 Td
(766,905)Tj
6.832 0 Td
(1,175,713)Tj
/T1_0 1 Tf
0.014 Tc 0 Tw -39.41 -1.231 Td
(Share of profit of joint ventures)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 17.315 0 Td
(148,298)Tj
0 Tc 0 Tw 10.532 0 Td
(\226)Tj
7.632 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 4.732 0 Td
(148,298)Tj
/T1_0 1 Tf
0 Tw -40.21 -1.231 Td
(Net gains arising from )Tj
1.008 -1.231 Td
(financial assets at FVTPL)Tj
/T1_1 1 Tf
0 Tc 19.206 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(2,418,958)Tj
0 Tc 0 Tw 11.332 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 3.932 0 Td
(2,418,958)Tj
/T1_0 1 Tf
0 Tw -39.41 -1.231 Td
(Loss on changes in fair value )Tj
1.008 -1.231 Td
(in respect of the derivative )Tj
0 -1.231 Td
(component of convertible )Tj
-0.025 Tw 0 -1.231 Td
(bond)Tj
/T1_1 1 Tf
16.448 0 Td
(\(10,022\))Tj
0 Tc 0 Tw 10.39 0 Td
(\226)Tj
7.632 0 Td
(\226)Tj
0.025 Tc -0.025 Tw 4.874 0 Td
(\(10,022\))Tj
/T1_0 1 Tf
0.02 Tc 0 Tw -40.352 -1.231 Td
[(Additions to non-current assets)-4.9 ( )]TJ
0.025 Tc -0.025 Tw 10.4 0 3.4833 13 95.5276 258.5787 Tm
(\(Note\))Tj
/T1_1 1 Tf
10.4 0 0 13 256.7925 258.5787 Tm
(3,302,982)Tj
8.432 0 Td
(873,927)Tj
8.682 0 Td
(4,482)Tj
5.782 0 Td
(4,181,391)Tj
/T1_0 1 Tf
0 Tw -39.41 -1.231 Td
(Depreciation and amortization)Tj
/T1_1 1 Tf
-0.025 Tw 16.515 0 Td
(3,409,902)Tj
8.432 0 Td
(533,659)Tj
8.157 0 Td
(22,832)Tj
6.307 0 Td
(3,966,393)Tj
ET

endstreamendobj94 0 obj<</Length 8915>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 11 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
13 0 0 13 85.0394 773.5878 Tm
(For the year ended December 31, 2024)Tj
-0.025 Tw 10.4 0 0 13 282.3557 741.5878 Tm
(Toll )Tj
0 Tc 0 Tw 10.4 0 0 13 303.4371 741.5878 Tm
( )Tj
0.025 Tc -0.025 Tw 10.4 0 0 13 259.1121 725.5878 Tm
(operation)Tj
7.44 1.231 Td
(Securities )Tj
0.192 -1.231 Td
(operation)Tj
8.818 0 Td
(Others)Tj
8.212 0 Td
(Total)Tj
10.4 0 3.4833 13 258.2873 709.5878 Tm
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
7.632 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 232.4409 705.1777 cm
0 0 m
68.031 0 l
S
Q
BT
0 Tc 0 Tw 13 0 3.4833 13 293.3224 706.5787 Tm
( )Tj
ET
q 1 0 0 1 311.811 705.1777 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 3.4833 13 372.6925 706.5787 Tm
( )Tj
ET
q 1 0 0 1 391.1811 705.1777 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 3.4833 13 452.0626 706.5787 Tm
( )Tj
ET
q 1 0 0 1 470.5512 705.1777 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 3.4833 13 531.4327 706.5787 Tm
( )Tj
0.025 Tc 10.4 0 0 13 85.0394 674.5787 Tm
(Revenue \226 external customers)Tj
-0.025 Tw 15.99 0 Td
(10,662,346)Tj
8.157 0 Td
(6,182,506)Tj
7.632 0 Td
(1,219,972)Tj
7.107 0 Td
(18,064,824)Tj
ET
2.5 w 
q 1 0 0 1 232.441 669.0142 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 232.441 665.6816 cm
0 0 m
68.031 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 293.3225 666.9152 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 311.8111 669.0142 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 311.8111 665.6816 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 372.6926 666.9152 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 391.1812 669.0142 cm
0 0 m
68.031 0 l
S
Q
0.835 w 
q 1 0 0 1 391.1812 665.6816 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 452.0627 666.9152 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 470.5512 669.0142 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 470.5512 665.6816 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 531.4327 666.9152 Tm
( )Tj
0.025 Tc 10.4 0 0 13 85.0395 634.9152 Tm
(Segment profit)Tj
-0.025 Tw 16.515 0 Td
(4,401,544)Tj
7.632 0 Td
(1,980,294)Tj
8.432 0 Td
(774,640)Tj
6.832 0 Td
(7,156,478)Tj
ET
2.5 w 
q 1 0 0 1 232.441 629.3506 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 232.441 626.0181 cm
0 0 m
68.031 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 293.3225 627.2516 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 311.8111 629.3506 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 311.8111 626.0181 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 372.6926 627.2516 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 391.1812 629.3506 cm
0 0 m
68.031 0 l
S
Q
0.835 w 
q 1 0 0 1 391.1812 626.0181 cm
0 0 m
68.031 0 l
S
Q
BT
13 0 0 13 452.0627 627.2516 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 470.5513 629.3506 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 470.5513 626.0181 cm
0 0 m
68.032 0 l
S
Q
BT
13 0 0 13 531.4328 627.2516 Tm
( )Tj
0.028 Tc 0.08 Tw -34.338 -2.335 Td
[(The)3 ( )0.5 (accounting)3 ( )0.5 (policies)3 ( )0.5 (of)3 ( )0.5 (operating)3 ( )0.5 (segments)3 ( )0.5 (are)3 ( )0.5 (consistent)3 ( )0.5 (with)3 ( )0.5 (those)3.1 ( )0.5 (applied)3 ( )]TJ
0.045 Tc 0.07 Tw 0 -1.231 Td
[(by)12.7 ( the)12.7 ( Group.)12.7 ( Segment)12.6 ( profit)12.6 ( represents)12.7 ( the)12.7 ( profit)12.7 ( after)12.7 ( tax)12.7 ( of)12.7 ( each)12.6 ( operating)20 ( )]TJ
0.03 Tc 0.078 Tw 0 -1.231 Td
[(segment.)5 ( )0.5 (This)5 ( )0.5 (is)5 ( )0.5 (the)5 ( )0.5 (measure)5 ( )0.5 (reported)5 ( )0.5 (to)5 ( )0.5 (the)5 ( )0.5 (chief)5 ( )0.5 (operating)5 ( )0.5 (decision)5 ( )0.5 (maker)5 ( )0.5 (for)5 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(the purposes of resource allocation and performance assessment.)Tj
/T1_1 1 Tf
0 -2.462 Td
(Segment assets and liabilities)Tj
/T1_0 1 Tf
0 -2.462 Td
[(T)0.5 (h)0.6 (e)0.5 ( )0.5 (f)0.5 (o)0.6 (l)0.5 (l)0.5 (o)0.5 (w)0.6 (i)0.5 (n)0.5 (g)0.5 ( )0.5 (i)0.6 (s)0.5 ( )0.5 (a)0.5 (n)0.5 ( )0.6 (a)0.5 (n)0.5 (a)0.6 (l)0.5 (y)0.5 (s)0.5 (i)0.6 (s)0.5 ( )0.5 (o)0.5 (f)0.5 ( )0.6 (t)0.5 (h)0.5 (e)0.6 ( )0.5 (G)0.5 (r)0.5 (o)0.6 (u)0.5 (p)0.5 (\222)0.5 (s)0.6 ( )0.5 (a)0.5 (s)0.5 (s)0.6 (e)0.5 (t)0.5 (s)0.5 ( )0.6 (a)0.5 (n)0.5 (d)0.5 ( )0.6 (l)0.5 (i)0.5 (a)0.5 (b)0.6 (i)0.5 (l)0.5 (i)0.5 (t)0.5 (i)0.6 (e)0.5 (s)0.5 ( )0.5 (b)0.6 (y)0.5 ( )0.5 (r)0.5 (e)0.6 (p)0.5 (o)0.5 (r)0.5 (t)0.6 (a)0.5 (b)0.5 (l)0.5 (e)0.6 ( )0.5 (a)0.5 (n)0.5 (d )]TJ
0 -1.231 Td
(operating segment:)Tj
/T1_1 1 Tf
10.4 0 0 13 271.3804 436.9025 Tm
(Segment assets)Tj
14.478 0 Td
(Segment liabilities)Tj
-13.975 -1.231 Td
(As at )Tj
0 Tc 10.4 0 0 13 303.4372 420.9025 Tm
( )Tj
0.025 Tc 10.4 0 0 13 236.9713 404.9025 Tm
(December 31, )Tj
-0.025 Tw 4.031 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 7.524 2.462 Td
(As at )Tj
0 Tc 10.4 0 0 13 382.8072 420.9025 Tm
( )Tj
0.025 Tc 10.4 0 0 13 318.6499 404.9025 Tm
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
/T1_1 1 Tf
0 Tw 7.413 2.462 Td
(As at )Tj
0 Tc 10.4 0 0 13 462.1773 420.9025 Tm
( )Tj
0.025 Tc 10.4 0 0 13 395.7114 404.9025 Tm
(December 31, )Tj
-0.025 Tw 4.031 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 7.524 2.462 Td
(As at )Tj
0 Tc 10.4 0 0 13 541.5474 420.9025 Tm
( )Tj
0.025 Tc 10.4 0 0 13 477.3901 404.9025 Tm
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
/T1_1 1 Tf
10.4 0 3.4833 13 256.5612 372.9025 Tm
(Rmb\222000)Tj
/T1_0 1 Tf
7.798 0 Td
(Rmb\222000)Tj
/T1_1 1 Tf
7.466 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
7.798 0 Td
(Rmb\222000)Tj
ET
0.5 w 
q 1 0 0 1 232.4411 368.4924 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 293.3226 369.8934 Tm
( )Tj
ET
q 1 0 0 1 311.8111 368.4924 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 372.6926 369.8934 Tm
( )Tj
ET
q 1 0 0 1 391.1812 368.4924 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
13 0 3.4833 13 452.0627 369.8934 Tm
( )Tj
ET
q 1 0 0 1 470.5513 368.4924 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 531.4328 369.8934 Tm
( )Tj
0.025 Tc 10.4 0 0 13 85.0395 337.8934 Tm
(Toll operation)Tj
/T1_1 1 Tf
-0.025 Tw 15.99 0 Td
(54,263,447)Tj
/T1_0 1 Tf
7.632 0 Td
(46,434,199)Tj
/T1_1 1 Tf
7.249 0 Td
(\(22,404,393\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(25,321,735\))Tj
0 Tw -38.502 -1.231 Td
(Securities operation)Tj
/T1_1 1 Tf
-0.025 Tw 15.465 0 Td
(227,612,283)Tj
/T1_0 1 Tf
7.632 0 Td
(159,916,026)Tj
/T1_1 1 Tf
7.249 0 Td
(\(177,488,361\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(117,566,517\))Tj
-37.977 -1.231 Td
(Others)Tj
/T1_1 1 Tf
15.99 0 Td
(10,788,148)Tj
/T1_0 1 Tf
7.632 0 Td
(10,745,275)Tj
/T1_1 1 Tf
8.574 0 Td
(\(470,821\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(595,751\))Tj
ET
q 1 0 0 1 232.4411 301.4833 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 293.3226 302.8843 Tm
( )Tj
ET
q 1 0 0 1 311.8112 301.4833 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 372.6927 302.8843 Tm
( )Tj
ET
q 1 0 0 1 391.1813 301.4833 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
13 0 0 13 452.0628 302.8843 Tm
( )Tj
ET
q 1 0 0 1 470.5514 301.4833 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 531.4329 302.8843 Tm
( )Tj
0.022 Tc 10.4 0 0 13 85.0396 270.8843 Tm
[(Tot)0.5 (al s)0.5 (egme)0.5 (nt a)0.5 (sset)0.5 (s \(l)0.5 (iabi)0.5 (litie)0.5 (s\))]TJ
/T1_1 1 Tf
0.025 Tc -0.025 Tw 15.465 0 Td
(292,663,878)Tj
/T1_0 1 Tf
7.632 0 Td
(217,095,500)Tj
/T1_1 1 Tf
7.249 0 Td
(\(200,363,575\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(143,484,003\))Tj
-37.977 -1.231 Td
(Goodwill)Tj
/T1_1 1 Tf
17.315 0 Td
(749,031)Tj
/T1_0 1 Tf
8.157 0 Td
(86,867)Tj
/T1_1 1 Tf
0 Tc 0 Tw 10.007 0 Td
(\226)Tj
/T1_0 1 Tf
7.632 0 Td
(\226)Tj
ET
q 1 0 0 1 232.4411 250.4743 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
13 0 0 13 293.3226 251.8753 Tm
( )Tj
ET
q 1 0 0 1 311.8112 250.4743 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 372.6927 251.8753 Tm
( )Tj
ET
q 1 0 0 1 391.1813 250.4743 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
13 0 0 13 452.0628 251.8753 Tm
( )Tj
ET
q 1 0 0 1 470.5514 250.4743 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 531.4329 251.8753 Tm
( )Tj
0.025 Tc 10.4 0 0 13 85.0396 219.8753 Tm
(Consolidated assets \(liabilities\))Tj
/T1_1 1 Tf
-0.025 Tw 15.465 0 Td
(293,412,909)Tj
/T1_0 1 Tf
7.632 0 Td
(217,182,367)Tj
/T1_1 1 Tf
7.249 0 Td
(\(200,363,575\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(143,484,003\))Tj
ET
2.5 w 
q 1 0 0 1 232.4411 214.3108 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 232.4412 210.9783 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 293.3227 212.2117 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 311.8112 214.3108 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 311.8112 210.9783 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 372.6927 212.2117 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 391.1813 214.3108 cm
0 0 m
68.031 0 l
S
Q
0.835 w 
q 1 0 0 1 391.1813 210.9783 cm
0 0 m
68.031 0 l
S
Q
BT
/T1_1 1 Tf
13 0 0 13 452.0628 212.2117 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 470.5514 214.3108 cm
0 0 m
68.032 0 l
S
Q
0.835 w 
q 1 0 0 1 470.5514 210.9783 cm
0 0 m
68.032 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 531.4329 212.2117 Tm
( )Tj
0.032 Tc 0.076 Tw -34.338 -2.335 Td
[(Segment)7 ( )0.5 (assets)7 ( )0.5 (and)7 ( )0.5 (segment)7 ( )0.5 (liabilities)7 ( )0.5 (represent)7 ( )0.5 (the)7 ( )0.5 (assets)7 ( )0.5 (and)7 ( )0.5 (liabilities)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(subsidiaries operating in the respective reportable and operating segmen\ts.)Tj
ET

endstreamendobj10 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 99 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 15 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300036005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19314>>/PageWidthList<</0 595.276>>>>>>>>endobj11 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 100 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 15 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19349>>/PageWidthList<</0 595.276>>>>>>>>endobj12 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 101 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 15 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19384>>/PageWidthList<</0 595.276>>>>>>>>endobj13 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 102 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 15 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19418>>/PageWidthList<</0 595.276>>>>>>>>endobj21 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 103 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 15 0 R/Resources<</ExtGState<</GS0 53 0 R/GS1 78 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]/XObject<</Fm0 79 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300037005A>/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]/1[519.0 1.0 3.0 -240.945 -364.252 240.945 364.252 1.0 0.0 0.0 1.0 0.0 0.0]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 19453>>/PageWidthList<</0 595.276>>>>>>>>endobj103 0 obj<</Length 5547>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 281.8878 18.7502 Tm
(\226 10 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
0.024 Tc 13 0 0 13 85.0394 773.5878 Tm
[(As the currencies that the Group had transacted in and the functional cu\rrencies of)-1 ( )]TJ
0.025 Tc 0.078 Tw 0 -1.231 Td
(overseas subsidiaries for translation into the Group\222s presentation c\urrency were )Tj
0.06 Tw 0 -1.231 Td
(exchangeable, the amendments did not have any impact on the Group\222s f\inancial )Tj
-0.025 Tw 0 -1.231 Td
(statements.)Tj
/T1_1 1 Tf
0 Tw -2.181 -2.462 Td
[(3. )-1105.5 (OPERATING SEGMENTS)]TJ
/T1_0 1 Tf
0.046 Tc 0.07 Tw 2.181 -2.462 Td
[(Inf)0.5 (ormati)0.5 (on)12.9 ( re)0.5 (porte)0.5 (d)12.9 ( to)12.9 ( t)0.5 (he)12.9 ( ge)0.5 (nera)0.5 (l)12.9 ( mana)0.5 (ger)12.9 ( )0.5 (of)12.9 ( the)13 ( Comp)0.5 (any,)12.9 ( )0.5 (being)12.9 ( )0.5 (the)12.9 ( c)0.5 (hief)21 ( )]TJ
0.025 Tc 0.056 Tw 0 -1.231 Td
(operating decision maker, for the purposes of resource allocation and as\sessment )Tj
0.06 Tc 0.07 Tw 0 -1.231 Td
[(of)12.2 ( segment)12.1 ( performance)12.1 ( focuses)12.2 ( on)12.1 ( types)12.1 ( of)12.1 ( goods)12.1 ( or)12.2 ( services)12.1 ( delivered)12.1 ( or)35 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(provided.)Tj
0.02 Tc 0 Tw 0 -2.462 Td
[(Specifically, the Group\222s reportable and operating segments under HKF\RS 8 are as)-5 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(follows:)Tj
0.062 Tw 0 -2.462 Td
[(\(i\) )-824.5 (Toll operation \226 the operation and management of high grade roads and\ the )]TJ
0 Tw 2.181 -1.231 Td
(collection of expressway tolls.)Tj
0.033 Tc 0.075 Tw -2.181 -2.462 Td
[(\()8 (i)8 (i)8 (\))8 ( )-500.5 (Securities)8 ( )0.5 (operation)8 ( )0.5 (\226)8 ( )0.5 (the)8 ( )0.5 (securities)8 ( )0.6 (and)8 ( )0.5 (futures)8 ( )0.5 (broking,)8 ( )0.5 (margin)8 ( )0.5 (financing)8 ( )]TJ
0.069 Tc 0.07 Tw 2.181 -1.231 Td
[(a)0.5 (n)0.5 (d)13.1 ( )0.5 (s)0.5 (e)0.6 (c)0.5 (u)0.5 (r)0.5 (i)0.6 (t)0.5 (i)0.5 (e)0.5 (s)13 ( )0.6 (l)0.5 (e)0.5 (n)0.5 (d)0.6 (i)0.5 (n)0.5 (g)0.5 (,)13 ( )0.6 (s)0.5 (e)0.5 (c)0.6 (u)0.5 (r)0.5 (i)0.5 (t)0.5 (i)0.6 (e)0.5 (s)13 ( )0.5 (u)0.6 (n)0.5 (d)0.5 (e)0.5 (r)0.6 (w)0.5 (r)0.5 (i)0.5 (t)0.5 (i)0.6 (n)0.5 (g)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (s)0.6 (p)0.5 (o)0.5 (n)0.5 (s)0.5 (o)0.6 (r)0.5 (s)0.5 (h)0.5 (i)0.5 (p)0.6 (,)13 ( )0.5 (a)0.5 (s)0.6 (s)0.5 (e)0.5 (t)44 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(management, advisory services and proprietary trading.)Tj
0.039 Tc 0.07 Tw -2.181 -2.462 Td
[(\()14 (i)14 (i)14 (i)14 (\))14 ( )-196.5 (Others)12.4 ( \226)12.3 ( hotel)12.4 ( operation,)12.3 ( PPP)12.3 ( project,)12.4 ( construction)12.4 ( service,)12.4 ( investment)12.4 ( in)13.9 ( )]TJ
0.025 Tc 0 Tw 2.181 -1.231 Td
(other financial institutions and other ancillary services.)Tj
/T1_1 1 Tf
-2.181 -2.462 Td
(Segment revenue and results)Tj
/T1_0 1 Tf
0.024 Tw 0 -2.462 Td
(The following is an analysis of the Group\222s revenue and results by re\portable and )Tj
0 Tw 0 -1.231 Td
(operating segment.)Tj
/T1_1 1 Tf
0 -2.462 Td
(For the year ended December 31, 2025)Tj
-0.025 Tw 11.7 0 0 13 299.2785 261.5878 Tm
(Toll )Tj
-2.513 -1.231 Td
(operation)Tj
5.977 1.231 Td
(Securities )Tj
0.08 -1.231 Td
(operation)Tj
7.299 0 Td
(Others)Tj
6.748 0 Td
(Total)Tj
11.7 0 3.4833 13 271.0815 229.5878 Tm
(Rmb\222000)Tj
6.057 0 Td
(Rmb\222000)Tj
6.057 0 Td
(Rmb\222000)Tj
6.057 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 260.7874 225.1777 cm
0 0 m
59.528 0 l
S
Q
BT
0 Tc 0 Tw 13 0 3.4833 13 255.1181 226.5787 Tm
( )Tj
ET
q 1 0 0 1 331.6536 225.1777 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 3.4833 13 325.9843 226.5787 Tm
( )Tj
ET
q 1 0 0 1 402.5197 225.1777 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 3.4833 13 396.8504 226.5787 Tm
( )Tj
ET
q 1 0 0 1 473.3858 225.1777 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 3.4833 13 467.7166 226.5787 Tm
( )Tj
/T1_0 1 Tf
0.025 Tc 11.7 0 0 13 85.0394 194.5787 Tm
(Revenue \226 external customers)Tj
/T1_1 1 Tf
-0.025 Tw 15.384 0 Td
(10,387,655)Tj
6.582 0 Td
(7,550,613)Tj
6.057 0 Td
(1,817,222)Tj
5.532 0 Td
(19,755,490)Tj
ET
2.5 w 
q 1 0 0 1 260.7874 189.0142 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 260.7874 185.6817 cm
0 0 m
59.528 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 255.1181 186.9152 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 331.6536 189.0142 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 331.6536 185.6817 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 0 13 325.9843 186.9152 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 402.5197 189.0142 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 402.5197 185.6817 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 0 13 396.8504 186.9152 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 473.3858 189.0142 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 473.3859 185.6817 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 0 13 467.7166 186.9152 Tm
( )Tj
/T1_0 1 Tf
0.025 Tc 11.7 0 0 13 85.0394 154.9151 Tm
(Segment profit)Tj
/T1_1 1 Tf
-0.025 Tw 15.909 0 Td
(4,305,474)Tj
6.057 0 Td
(2,815,198)Tj
6.857 0 Td
(742,865)Tj
5.257 0 Td
(7,863,537)Tj
ET
2.5 w 
q 1 0 0 1 260.7874 149.3506 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 260.7874 146.0181 cm
0 0 m
59.528 0 l
S
Q
BT
0 Tc 0 Tw 13 0 0 13 255.1181 147.2516 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 331.6536 149.3506 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 331.6536 146.0181 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 0 13 325.9843 147.2516 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 402.5197 149.3506 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 402.5197 146.0181 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 0 13 396.8504 147.2516 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 473.3858 149.3506 cm
0 0 m
59.528 0 l
S
Q
0.835 w 
q 1 0 0 1 473.3859 146.0181 cm
0 0 m
59.528 0 l
S
Q
BT
13 0 0 13 467.7166 147.2516 Tm
( )Tj
ET

endstreamendobj102 0 obj<</Length 4873>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 9 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
-0.025 Tw 13 0 0 13 56.6929 773.5878 Tm
(NOTES:)Tj
0 Tw 0 -2.308 Td
[(1. )-1105.5 (BASIS OF PREPARATION)]TJ
/T1_0 1 Tf
0.047 Tc 0.07 Tw 2.181 -2.462 Td
[(The)12.7 ( consolidated)12.7 ( financial)12.7 ( statements)12.7 ( have)12.7 ( been)12.7 ( prepared)12.7 ( in)12.7 ( accordance)12.7 ( with)22 ( )]TJ
0.05 Tc 0 -1.231 Td
[(HKFRS)12.7 ( Accounting)12.7 ( Standards)12.7 ( as)12.7 ( issued)12.7 ( by)12.7 ( Hong)12.7 ( Kong)12.7 ( Institute)12.7 ( of)12.7 ( Certified)25 ( )]TJ
0.076 Tc 0 -1.231 Td
[(Public)12.6 ( Accountants)12.6 ( \(\223)]TJ
/T1_1 1 Tf
-0.076 Tw (HKICPA)Tj
/T1_0 1 Tf
0.07 Tw [(\224\).)12.6 ( In)12.6 ( addition,)12.5 ( the)12.5 ( consolidated)12.5 ( financial)51 ( )]TJ
0.038 Tc 0 -1.231 Td
[(statements)12.7 ( include)12.7 ( disclosures)12.7 ( required)12.7 ( by)12.7 ( The)12.7 ( Rules)12.7 ( Governing)12.7 ( the)12.8 ( Listing)12.7 ( of)13 ( )]TJ
0.025 Tc 0.067 Tw 0 -1.231 Td
(Securities on The Stock Exchange of Hong Kong Limited \(\223)Tj
/T1_1 1 Tf
(Listing Rules)Tj
/T1_0 1 Tf
(\224\) and )Tj
0 Tw 0 -1.231 Td
(by the Hong Kong Companies Ordinance.)Tj
/T1_1 1 Tf
-2.181 -2.462 Td
[(2. )-1105.5 (PRINCIPAL ACCOUNTING POLICIES)]TJ
/T1_0 1 Tf
0.033 Tc 0.075 Tw 2.181 -2.462 Td
[(The)8 ( )0.5 (consolidated)8 ( )0.5 (financial)8 ( )0.5 (statements)8 ( )0.5 (have)8.1 ( )0.5 (been)8 ( )0.5 (prepared)8.1 ( )0.5 (on)8 ( )0.5 (the)8.1 ( )0.5 (historical)8 ( )0.5 (cost)8 ( )]TJ
0.03 Tc 0.078 Tw 0 -1.231 Td
[(basis)5 ( )0.6 (except)5 ( )0.5 (for)5 ( )0.5 (certain)5 ( )0.5 (financial)5 ( )0.5 (instruments)5 ( )0.5 (that)5 ( )0.5 (are)5 ( )0.5 (measured)5.1 ( at)5 ( )0.5 (fair)5 ( )0.5 (values)5 ( )0.5 (at)5 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(the end of each reporting period.)Tj
0.03 Tc 0.078 Tw 0 -2.462 Td
[(E)0.5 (x)0.6 (c)0.5 (e)0.6 (p)0.5 (t)5 ( )0.5 (a)0.5 (s)5 ( )0.5 (d)0.6 (i)0.5 (s)0.5 (c)0.6 (l)0.5 (o)0.5 (s)0.6 (e)0.5 (d)5 ( )0.5 (b)0.5 (e)0.6 (l)0.5 (o)0.6 (w)0.5 (,)5 ( )0.5 (t)0.5 (h)0.6 (e)5 ( )0.5 (a)0.5 (c)0.6 (c)0.5 (o)0.6 (u)0.5 (n)0.5 (t)0.5 (i)0.6 (n)0.5 (g)5 ( )0.5 (p)0.5 (o)0.6 (l)0.5 (i)0.5 (c)0.6 (i)0.5 (e)0.5 (s)5.1 ( a)0.6 (n)0.5 (d)5 ( )0.5 (m)0.6 (e)0.5 (t)0.5 (h)0.6 (o)0.5 (d)0.5 (s)5 ( )0.5 (o)0.6 (f)5 ( )0.5 (c)0.5 (o)0.5 (m)0.6 (p)0.5 (u)0.5 (t)0.5 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)5 ( )]TJ
0.025 Tc 0.059 Tw 0 -1.231 Td
(applied in the consolidated financial statements are consistent with tho\se applied )Tj
0.028 Tc 0.08 Tw 0 -1.231 Td
[(in)3 ( )0.5 (the)3 ( )0.6 (preparation)3 ( )0.5 (of)3.1 ( )0.5 (the)3 ( )0.5 (Group\222s)3 ( )0.5 (annual)3 ( )0.5 (financial)3 ( )0.5 (statements)3 ( )0.5 (for)3 ( )0.5 (the)3 ( )0.5 (year)3 ( )0.5 (ended)3 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(December 31, 2024.)Tj
/T1_1 1 Tf
0 -2.462 Td
(Amendments to HKFRS Accounting Standards that are mandatorily effective \)Tj
0 -1.231 Td
(for the current year)Tj
/T1_0 1 Tf
0.03 Tc 0.078 Tw 0 -2.462 Td
[(During)5 ( )0.5 (the)5 ( )0.5 (Period,)5 ( )0.5 (the)5 ( )0.5 (Group)5 ( )0.5 (has)5 ( )0.5 (initially)5 ( )0.5 (applied)5 ( )0.5 (the)5 ( )0.5 (following)5 ( )0.5 (amendments)5 ( )0.5 (to)5 ( )]TJ
0.025 Tc 0.036 Tw 0 -1.231 Td
(HKFRS Accounting Standards as issued by the HKICPA for the first time, w\hich )Tj
0.043 Tw 0 -1.231 Td
(are mandatorily effective for the Group\222s annual periods beginning on\ January 1, )Tj
0 Tw 0 -1.231 Td
(2025, for the preparation of the consolidated financial statements:)Tj
0 -2.462 Td
(Amendments to HKAS 21)Tj
16.354 0 Td
(Lack of Exchangeability)Tj
0.058 Tc 0.07 Tw -16.354 -2.335 Td
[(The)12.4 ( nature)12.4 ( and)12.4 ( the)12.4 ( impact)12.4 ( of)12.4 ( the)12.4 ( revised)12.4 ( HKFRS)12.4 ( Accounting)12.4 ( Standards)12.4 ( are)33 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(described below:)Tj
/T1_1 1 Tf
0 -2.462 Td
(Impacts on Application of Amendments to HKAS 21 Lack of Exchangeability)Tj
/T1_0 1 Tf
0.047 Tc 0.07 Tw 0 -2.462 Td
[(T)0.5 (he)13 ( G)0.5 (r)0.5 (ou)0.5 (p)12.9 ( )0.5 (ha)0.5 (s)13 ( a)0.5 (pp)0.5 (l)0.5 (ie)0.5 (d)12.9 ( )0.5 (am)0.5 (e)0.5 (nd)0.5 (me)0.5 (nt)0.5 (s)13 ( t)0.5 (o)12.9 ( )0.5 (H)0.5 (KA)0.5 (S)12.9 ( )0.5 (2)12.9 (1)13 ( f)0.5 (o)0.5 (r)12.9 ( )0.5 (th)0.5 (e)13 ( f)0.5 (ir)0.5 (st)13 ( )0.5 (ti)0.5 (me)13 ( d)0.5 (ur)0.5 (i)0.5 (ng)13 ( t)0.5 (he)22 ( )]TJ
0.025 Tc -0.025 Tw 0 -1.231 Td
(Period)Tj
0.039 Tw (. The amendments specify how an entity shall assess whether a currency i\s )Tj
0.005 Tw 0 -1.231 Td
(exchangeable into another currency and how it shall estimate a spot exch\ange rate )Tj
0.052 Tw 0 -1.231 Td
(at a measurement date when exchangeability is lacking. The amendments re\quire )Tj
0.048 Tw 0 -1.231 Td
(disclosures of information that enable users of financial statements to \understand )Tj
0 Tw 0 -1.231 Td
(the impact of a currency not being exchangeable.)Tj
ET

endstreamendobj101 0 obj<</Length 3822>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 8 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 423.7217 770.8478 Tm
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
13 0 3.4833 13 328.6784 722.8478 Tm
(Notes)Tj
/T1_1 1 Tf
5.408 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 379.8425 718.4478 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 446.3933 719.8488 Tm
( )Tj
ET
q 1 0 0 1 464.8819 718.4478 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 531.4327 719.8488 Tm
( )Tj
0.025 Tc 13 0 0 13 56.6929 687.8488 Tm
(NON-CURRENT LIABILITIES)Tj
0 -1.231 Td
(Bank and other borrowings)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(15,496,333)Tj
/T1_0 1 Tf
6.541 0 Td
(14,577,484)Tj
0 Tw -32.343 -1.231 Td
(Bonds payable)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(20,889,600)Tj
/T1_0 1 Tf
6.541 0 Td
(19,876,048)Tj
0 Tw -32.343 -1.231 Td
(Deferred tax liabilities)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(499,519)Tj
/T1_0 1 Tf
6.541 0 Td
(518,088)Tj
0 Tw -33.668 -1.231 Td
(Lease liabilities)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(460,306)Tj
/T1_0 1 Tf
6.541 0 Td
(246,406)Tj
ET
q 1 0 0 1 379.8425 619.4387 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 620.8397 Tm
( )Tj
ET
q 1 0 0 1 464.8819 619.4387 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 620.8397 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -5.161 -2.462 Td
(37,345,758)Tj
/T1_0 1 Tf
6.541 0 Td
(35,218,026)Tj
ET
q 1 0 0 1 379.8425 584.4296 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 585.8306 Tm
( )Tj
ET
q 1 0 0 1 464.8819 584.4296 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 585.8306 Tm
( )Tj
0.025 Tc -30.963 -2.462 Td
(NET ASSETS)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(93,049,334)Tj
/T1_0 1 Tf
6.541 0 Td
(73,698,364)Tj
ET
2.5 w 
q 1 0 0 1 379.8425 548.2661 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 379.8426 544.9335 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 546.1671 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 464.8819 548.2661 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 464.8819 544.9335 cm
0 0 m
73.701 0 l
S
Q
BT
13 0 0 13 459.2126 546.1671 Tm
( )Tj
/T1_0 1 Tf
0.025 Tc -30.963 -2.462 Td
(CAPITAL AND RESERVES)Tj
0 -1.231 Td
(Share capital)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(6,038,115)Tj
/T1_0 1 Tf
6.541 0 Td
(5,993,801)Tj
-32.868 -1.231 Td
(Reserves)Tj
/T1_1 1 Tf
25.802 0 Td
(44,342,158)Tj
/T1_0 1 Tf
6.541 0 Td
(40,047,152)Tj
ET
0.5 w 
q 1 0 0 1 379.8425 477.757 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 479.158 Tm
( )Tj
ET
q 1 0 0 1 464.8819 477.757 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 479.158 Tm
( )Tj
0.025 Tc -30.963 -2.462 Td
(Equity attributable to owners of the Company)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(50,380,273)Tj
/T1_0 1 Tf
6.541 0 Td
(46,040,953)Tj
0 Tw -32.343 -1.231 Td
(Non-controlling interests)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(42,669,061)Tj
/T1_0 1 Tf
6.541 0 Td
(27,657,411)Tj
ET
q 1 0 0 1 379.8425 426.748 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 428.1489 Tm
( )Tj
ET
q 1 0 0 1 464.8819 426.748 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 428.1489 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -5.161 -2.462 Td
(93,049,334)Tj
/T1_0 1 Tf
6.541 0 Td
(73,698,364)Tj
ET
2.5 w 
q 1 0 0 1 379.8425 390.5844 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 379.8426 387.2519 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 388.4854 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 464.8819 390.5844 cm
0 0 m
73.701 0 l
S
Q
0.835 w 
q 1 0 0 1 464.8819 387.2519 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 388.4854 Tm
( )Tj
ET

endstreamendobj100 0 obj<</Length 4592>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 7 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 423.7217 770.8478 Tm
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
13 0 3.4833 13 328.6784 722.8478 Tm
(Notes)Tj
/T1_1 1 Tf
5.408 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 379.8425 718.4478 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 446.3933 719.8488 Tm
( )Tj
ET
q 1 0 0 1 464.8819 718.4478 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 531.4327 719.8488 Tm
( )Tj
0.025 Tc 13 0 0 13 56.6929 687.8488 Tm
(CURRENT LIABILITIES)Tj
0 -1.231 Td
(Placements from other financial institutions)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(5,418,251)Tj
/T1_0 1 Tf
6.541 0 Td
(1,750,000)Tj
0 Tw -32.868 -1.231 Td
(Accounts payable to customers arising from )Tj
1.003 -1.231 Td
(securities business)Tj
/T1_1 1 Tf
-0.025 Tw 24.799 0 Td
(72,298,470)Tj
/T1_0 1 Tf
6.541 0 Td
(48,397,105)Tj
0 Tw -32.343 -1.231 Td
(Trade payables)Tj
0 Tc 13 0 3.4833 13 341.2427 623.8488 Tm
(9)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 13 0 0 13 398.9433 623.8488 Tm
(1,202,172)Tj
/T1_0 1 Tf
6.541 0 Td
(1,143,206)Tj
0 Tw -32.868 -1.231 Td
(Tax liabilities)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(862,876)Tj
/T1_0 1 Tf
6.541 0 Td
(784,814)Tj
0 Tw -33.668 -1.231 Td
(Other taxes payable)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(394,649)Tj
/T1_0 1 Tf
6.541 0 Td
(339,171)Tj
0 Tw -33.668 -1.231 Td
(Other payables and accruals)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(10,941,063)Tj
/T1_0 1 Tf
6.541 0 Td
(10,132,003)Tj
-32.343 -1.231 Td
(Provision)Tj
/T1_1 1 Tf
28.177 0 Td
(5,039)Tj
/T1_0 1 Tf
0 Tc 0 Tw 8.391 0 Td
(\226)Tj
0.025 Tc -36.568 -1.231 Td
(Dividends payable)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(697,118)Tj
/T1_0 1 Tf
6.541 0 Td
(457,656)Tj
0 Tw -33.668 -1.231 Td
(Contract liabilities)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(120,613)Tj
/T1_0 1 Tf
6.541 0 Td
(123,582)Tj
0 Tw -33.668 -1.231 Td
(Derivative financial liabilities)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(609,125)Tj
/T1_0 1 Tf
6.541 0 Td
(558,131)Tj
0 Tw -33.668 -1.231 Td
(Bank and other borrowings)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(2,340,672)Tj
/T1_0 1 Tf
6.541 0 Td
(2,507,616)Tj
0 Tw -32.868 -1.231 Td
(Short-term financing notes payable)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(13,585,207)Tj
/T1_0 1 Tf
7.066 0 Td
(7,085,628)Tj
0 Tw -32.868 -1.231 Td
(Bonds payable)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(19,328,956)Tj
/T1_0 1 Tf
6.541 0 Td
(10,994,506)Tj
0 Tw -32.343 -1.231 Td
(Convertible Bonds)Tj
-0.025 Tw 13 0 3.4833 13 337.8302 447.8487 Tm
(10)Tj
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 447.0433 447.8487 Tm
(\226)Tj
/T1_0 1 Tf
0.025 Tc -0.025 Tw 3.641 0 Td
(224,867)Tj
0 Tw -33.668 -1.231 Td
(Financial assets sold under repurchase )Tj
-0.025 Tw 1.003 -1.231 Td
(agreements)Tj
/T1_1 1 Tf
24.799 0 Td
(34,432,762)Tj
/T1_0 1 Tf
6.541 0 Td
(23,139,450)Tj
0 Tw -32.343 -1.231 Td
(Financial liabilities at FVTPL)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(577,701)Tj
/T1_0 1 Tf
6.541 0 Td
(480,553)Tj
0 Tw -33.668 -1.231 Td
(Lease liabilities)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(203,143)Tj
/T1_0 1 Tf
6.541 0 Td
(147,689)Tj
ET
q 1 0 0 1 379.8425 379.4387 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 380.8397 Tm
( )Tj
ET
q 1 0 0 1 464.8819 379.4387 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 380.8397 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -5.686 -2.462 Td
(163,017,817)Tj
/T1_0 1 Tf
6.541 0 Td
(108,265,977)Tj
ET
q 1 0 0 1 379.8425 344.4296 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 345.8306 Tm
( )Tj
ET
q 1 0 0 1 464.8819 344.4296 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 345.8306 Tm
( )Tj
0.025 Tc -30.963 -2.462 Td
(NET CURRENT ASSETS)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(51,474,412)Tj
/T1_0 1 Tf
6.541 0 Td
(37,658,318)Tj
ET
q 1 0 0 1 379.8425 309.4205 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 310.8215 Tm
( )Tj
ET
q 1 0 0 1 464.8819 309.4205 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 310.8215 Tm
( )Tj
0.025 Tc -30.963 -2.462 Td
(TOTAL ASSETS LESS CURRENT )Tj
-0.025 Tw 1.003 -1.231 Td
(LIABILITIES)Tj
/T1_1 1 Tf
24.274 0 Td
(130,395,092)Tj
/T1_0 1 Tf
6.541 0 Td
(108,916,390)Tj
ET
q 1 0 0 1 379.8425 258.4115 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 259.8125 Tm
( )Tj
ET
q 1 0 0 1 464.8819 258.4115 cm
0 0 m
73.701 0 l
S
Q
BT
13 0 0 13 459.2126 259.8125 Tm
( )Tj
ET

endstreamendobj99 0 obj<</Length 3463>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 6 \226)Tj
ET
q
0 Tc 0 g
/GS1 gs
0 TL/Fm0 Do
Q
BT
/T1_1 1 Tf
13 0 0 13 423.7217 770.8478 Tm
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
13 0 3.4833 13 328.6784 722.8478 Tm
(Notes)Tj
/T1_1 1 Tf
5.408 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 379.8425 718.4478 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 446.3933 719.8488 Tm
( )Tj
ET
q 1 0 0 1 464.8819 718.4478 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 531.4327 719.8488 Tm
( )Tj
0.025 Tc 13 0 0 13 56.6929 687.8488 Tm
(CURRENT ASSETS)Tj
-0.025 Tw 0 -1.231 Td
(Inventories)Tj
/T1_1 1 Tf
26.327 0 Td
(1,785,748)Tj
/T1_0 1 Tf
6.541 0 Td
(1,235,112)Tj
0 Tw -32.868 -1.231 Td
(Trade receivables)Tj
0 Tc 13 0 3.4833 13 341.2427 655.8488 Tm
(8)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 13 0 0 13 398.9433 655.8488 Tm
(1,377,184)Tj
/T1_0 1 Tf
6.541 0 Td
(1,050,498)Tj
0 Tw -32.868 -1.231 Td
(Loans to customers arising from margin )Tj
1.003 -1.231 Td
(financing business)Tj
/T1_1 1 Tf
-0.025 Tw 24.799 0 Td
(38,964,285)Tj
/T1_0 1 Tf
6.541 0 Td
(24,224,342)Tj
0 Tw -32.343 -1.231 Td
(Other receivables and prepayments)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(6,220,810)Tj
/T1_0 1 Tf
6.541 0 Td
(4,332,270)Tj
0 Tw -32.868 -1.231 Td
(Dividends receivable)Tj
/T1_1 1 Tf
-0.025 Tw 27.652 0 Td
(11,711)Tj
/T1_0 1 Tf
7.066 0 Td
(2,000)Tj
0 Tw -34.718 -1.231 Td
(Derivative financial assets)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(409,775)Tj
/T1_0 1 Tf
6.541 0 Td
(570,461)Tj
0 Tw -33.668 -1.231 Td
(Financial assets at FVTPL)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(49,832,095)Tj
/T1_0 1 Tf
6.541 0 Td
(35,536,634)Tj
0 Tw -32.343 -1.231 Td
(Debt instruments at FVTOCI)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(1,736,635)Tj
/T1_0 1 Tf
6.541 0 Td
(1,022,862)Tj
0 Tw -32.868 -1.231 Td
(Financial assets held under resale agreements)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(7,275,187)Tj
/T1_0 1 Tf
6.541 0 Td
(5,491,056)Tj
0 Tw -32.868 -1.231 Td
(Bank balances and clearing settlement fund )Tj
1.003 -1.231 Td
(held on behalf of customers)Tj
/T1_1 1 Tf
-0.025 Tw 24.799 0 Td
(72,841,948)Tj
/T1_0 1 Tf
6.541 0 Td
(49,066,356)Tj
0 Tw -32.343 -1.231 Td
(Bank balances, clearing settlement fund, )Tj
1.003 -1.231 Td
(deposits and cash)Tj
0 -1.231 Td
(\226 Restricted bank balances and cash)Tj
/T1_1 1 Tf
-0.025 Tw 26.124 0 Td
(116,834)Tj
/T1_0 1 Tf
7.066 0 Td
(80,259)Tj
0 Tw -33.19 -1.231 Td
[(\226 Ti )275 (me deposits with original maturity over )]TJ
1.739 -1.231 Td
(three months)Tj
/T1_1 1 Tf
-0.025 Tw 23.06 0 Td
(10,354,097)Tj
/T1_0 1 Tf
7.066 0 Td
(2,379,965)Tj
0 Tw -31.865 -1.231 Td
(\226 Cash and cash equivalents)Tj
/T1_1 1 Tf
-0.025 Tw 24.799 0 Td
(23,565,920)Tj
/T1_0 1 Tf
6.541 0 Td
(20,932,480)Tj
ET
q 1 0 0 1 379.8425 395.4387 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 396.8397 Tm
( )Tj
ET
q 1 0 0 1 464.8819 395.4387 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 396.8397 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -5.686 -2.462 Td
(214,492,229)Tj
/T1_0 1 Tf
6.541 0 Td
(145,924,295)Tj
ET
q 1 0 0 1 379.8425 360.4296 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 361.8306 Tm
( )Tj
ET
q 1 0 0 1 464.8819 360.4296 cm
0 0 m
73.701 0 l
S
Q
BT
13 0 0 13 459.2126 361.8306 Tm
( )Tj
ET

endstreamendobj5 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 104 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 14 0 R/Resources<</ColorSpace<</CS0 105 0 R>>/ExtGState<</GS0 53 0 R/GS1 78 0 R/GS2 106 0 R>>/Font<</T1_0 54 0 R/T1_1 107 0 R/T1_2 108 0 R/T1_3 55 0 R>>/ProcSet[/PDF/Text]/Properties<</MC0 109 0 R>>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300036005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 401>>/PageWidthList<</0 595.276>>>>>>>>endobj6 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 110 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 14 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300036005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 943>>/PageWidthList<</0 595.276>>>>>>>>endobj7 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 111 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 14 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300036005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 14793>>/PageWidthList<</0 595.276>>>>>>>>endobj8 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 112 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 14 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300036005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 14831>>/PageWidthList<</0 595.276>>>>>>>>endobj9 0 obj<</ArtBox[0.0 0.0 595.276 841.89]/BleedBox[0.0 0.0 595.276 841.89]/Contents 113 0 R/CropBox[0.0 0.0 595.276 841.89]/MediaBox[0.0 0.0 595.276 841.89]/Parent 14 0 R/Resources<</ExtGState<</GS0 53 0 R>>/Font<</T1_0 54 0 R/T1_1 55 0 R>>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo<</InDesign<</DocumentID<FEFF0078006D0070002E006400690064003A00310032006400610038006100660033002D0032003100380064002D0030003100340034002D0061006600310036002D003300610031003200640063003300330030006200650036>/LastModified<FEFF0044003A00320030003200360030003300330031003100340031003900300036005A>/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID<FEFF0078006D0070002E006400690064003A00320034006600660062003900620035002D0034006600390035002D0039003800340031002D0061003900610065002D003600330035006500370065003700650063006200610031>/PageItemUIDToLocationDataMap<</0[369.0 0.0 3.0 -240.945 392.235 240.945 409.242 1.0 0.0 0.0 1.0 7.08661 408.847]>>/PageTransformationMatrixList<</0[1.0 0.0 0.0 1.0 0.0 0.0]>>/PageUIDList<</0 14870>>/PageWidthList<</0 595.276>>>>>>>>endobj113 0 obj<</Length 3288>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 5 \226)Tj
/T1_1 1 Tf
13 0 0 13 56.6929 776.0055 Tm
(CONSOLIDATED STATEMENT OF FINANCIAL POSITION)Tj
28.233 -2.462 Td
(As at )Tj
-3.811 -1.231 Td
(December 31, )Tj
-0.025 Tw 4.03 -1.231 Td
(2025)Tj
/T1_0 1 Tf
0 Tw 6.434 2.462 Td
(As at )Tj
-3.701 -1.231 Td
(December 31, )Tj
-0.025 Tw 3.809 -1.231 Td
(2024)Tj
13 0 3.4833 13 328.6784 696.0055 Tm
(Notes)Tj
/T1_1 1 Tf
5.408 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
6.707 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 379.8425 691.5955 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 446.3933 692.9965 Tm
( )Tj
ET
q 1 0 0 1 464.8819 691.5955 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 531.4327 692.9965 Tm
( )Tj
0.025 Tc 13 0 0 13 56.6929 660.9965 Tm
(NON-CURRENT ASSETS)Tj
0 -1.231 Td
(Property, plant and equipment)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(5,855,431)Tj
/T1_0 1 Tf
6.541 0 Td
(5,717,903)Tj
0 Tw -32.868 -1.231 Td
(Right-of-use assets)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(1,078,462)Tj
/T1_0 1 Tf
7.341 0 Td
(832,183)Tj
0 Tw -33.668 -1.231 Td
(Expressway operating rights)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(18,764,763)Tj
/T1_0 1 Tf
6.541 0 Td
(19,743,837)Tj
-32.343 -1.231 Td
(Goodwill)Tj
/T1_1 1 Tf
27.127 0 Td
(749,031)Tj
/T1_0 1 Tf
7.066 0 Td
(86,867)Tj
0 Tw -34.193 -1.231 Td
(Other intangible assets)Tj
/T1_1 1 Tf
-0.025 Tw 27.127 0 Td
(741,357)Tj
/T1_0 1 Tf
6.541 0 Td
(428,056)Tj
0 Tw -33.668 -1.231 Td
(Interests in associates)Tj
/T1_1 1 Tf
-0.025 Tw 25.802 0 Td
(14,870,228)Tj
/T1_0 1 Tf
6.541 0 Td
(17,210,739)Tj
0 Tw -32.343 -1.231 Td
(Interests in joint ventures)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(3,280,335)Tj
/T1_0 1 Tf
6.541 0 Td
(2,400,437)Tj
0 Tw -32.868 -1.231 Td
(Financial assets at fair value through profit or )Tj
1.003 -1.231 Td
(loss \(\223)Tj
/T1_1 1 Tf
-0.025 Tw (FVTPL)Tj
/T1_0 1 Tf
(\224\))Tj
/T1_1 1 Tf
26.124 0 Td
(647,862)Tj
/T1_0 1 Tf
6.541 0 Td
(485,931)Tj
0 Tw -33.668 -1.231 Td
(Equity investments at fair value through other )Tj
1.003 -1.231 Td
(comprehensive income \(\223)Tj
/T1_1 1 Tf
-0.025 Tw (FVTOCI)Tj
/T1_0 1 Tf
(\224\))Tj
/T1_1 1 Tf
25.324 0 Td
(6,582,446)Tj
/T1_0 1 Tf
6.541 0 Td
(1,708,759)Tj
0 Tw -32.868 -1.231 Td
(Debt instruments at )Tj
-0.025 Tw (FVTOCI)Tj
/T1_1 1 Tf
25.802 0 Td
(16,013,782)Tj
/T1_0 1 Tf
6.541 0 Td
(11,412,165)Tj
0 Tw -32.343 -1.231 Td
(Other receivables and prepayments)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(1,641,169)Tj
/T1_0 1 Tf
7.341 0 Td
(985,608)Tj
0 Tw -33.668 -1.231 Td
(Deferred tax assets)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(1,551,257)Tj
/T1_0 1 Tf
6.541 0 Td
(1,274,351)Tj
0 Tw -32.868 -1.231 Td
(Time deposits)Tj
/T1_1 1 Tf
-0.025 Tw 26.327 0 Td
(7,144,557)Tj
/T1_0 1 Tf
6.541 0 Td
(8,971,236)Tj
ET
q 1 0 0 1 379.8425 416.5864 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 417.9874 Tm
( )Tj
ET
q 1 0 0 1 464.8819 416.5864 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 459.2126 417.9874 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -5.161 -2.462 Td
(78,920,680)Tj
/T1_0 1 Tf
6.541 0 Td
(71,258,072)Tj
ET
q 1 0 0 1 379.8425 381.5773 cm
0 0 m
73.701 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 374.1732 382.9783 Tm
( )Tj
ET
q 1 0 0 1 464.8819 381.5773 cm
0 0 m
73.701 0 l
S
Q
BT
13 0 0 13 459.2126 382.9783 Tm
( )Tj
ET

endstreamendobj112 0 obj<</Length 2884>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 4 \226)Tj
/T1_1 1 Tf
13 0 0 13 348.1062 770.8479 Tm
(For the year ended December 31,)Tj
-0.025 Tw 4.945 -1.231 Td
(2025)Tj
/T1_0 1 Tf
7.632 0 Td
(2024)Tj
13 0 3.4833 13 300.3319 738.8479 Tm
(Notes)Tj
/T1_1 1 Tf
6.499 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
7.798 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 351.496 734.4479 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 345.8268 735.8489 Tm
( )Tj
ET
q 1 0 0 1 450.7086 734.4479 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 445.0394 735.8489 Tm
( )Tj
0.025 Tc 13 0 0 13 56.6928 703.8489 Tm
(Total comprehensive income )Tj
0 Tc ( )Tj
0.025 Tc 1.003 -1.231 Td
(attributable to:)Tj
-1.003 -1.231 Td
(Owners of the Company)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(5,073,759)Tj
/T1_0 1 Tf
7.632 0 Td
(5,884,211)Tj
-32.868 -1.231 Td
(No)Tj
(n-c)Tj
0 Tw (ontrolling interests)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(2,515,312)Tj
/T1_0 1 Tf
7.632 0 Td
(1,877,663)Tj
ET
q 1 0 0 1 351.4959 651.4388 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8266 652.8398 Tm
( )Tj
ET
q 1 0 0 1 450.7085 651.4388 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0392 652.8398 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -4.636 -2.462 Td
(7,589,071)Tj
/T1_0 1 Tf
7.632 0 Td
(7,761,874)Tj
ET
2.5 w 
q 1 0 0 1 351.4959 615.2753 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 351.4959 611.9427 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8266 613.1763 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 450.7085 615.2753 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 450.7085 611.9427 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0392 613.1763 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Earnings per share)Tj
0 Tc 19.811 0 Td
(7)Tj
0.025 Tc -0.025 Tw -19.811 -1.231 Td
(Basic )Tj
0 Tw 13 0 3.4833 13 89.4439 565.1763 Tm
(\(Rmb cents\))Tj
/T1_1 1 Tf
-0.025 Tw 13 0 0 13 408.8198 565.1763 Tm
(88.62)Tj
/T1_0 1 Tf
7.632 0 Td
(91.79)Tj
ET
2.5 w 
q 1 0 0 1 351.4958 559.6117 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 351.4958 556.2792 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8264 557.5127 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 450.7084 559.6117 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 450.7084 556.2792 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0391 557.5127 Tm
( )Tj
0.025 Tc -0.025 Tw -29.873 -2.462 Td
(Diluted )Tj
0 Tw 13 0 3.4833 13 100.208 525.5127 Tm
(\(Rmb cents\))Tj
/T1_1 1 Tf
-0.025 Tw 13 0 0 13 408.8197 525.5127 Tm
(88.62)Tj
/T1_0 1 Tf
7.632 0 Td
(90.50)Tj
ET
2.5 w 
q 1 0 0 1 351.4957 519.9481 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 351.4957 516.6156 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8264 517.8491 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 450.7083 519.9481 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 450.7083 516.6156 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.039 517.8491 Tm
( )Tj
ET

endstreamendobj111 0 obj<</Length 5028>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 3 \226)Tj
/T1_1 1 Tf
13 0 0 13 348.1062 770.8479 Tm
(For the year ended December 31,)Tj
-0.025 Tw 4.945 -1.231 Td
(2025)Tj
/T1_0 1 Tf
7.632 0 Td
(2024)Tj
13 0 3.4833 13 300.3319 738.8479 Tm
(Notes)Tj
/T1_1 1 Tf
6.499 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
7.798 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 351.496 734.4479 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 345.8268 735.8489 Tm
( )Tj
ET
q 1 0 0 1 450.7086 734.4479 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 445.0394 735.8489 Tm
( )Tj
0.025 Tc 13 0 0 13 56.6928 703.8489 Tm
(Net other comprehensive income that will )Tj
1.003 -1.231 Td
(not be reclassified to profit or loss in )Tj
0 -1.231 Td
(subsequent periods)Tj
/T1_1 1 Tf
-0.025 Tw 25.034 0 Td
(319,613)Tj
/T1_0 1 Tf
7.632 0 Td
(110,033)Tj
ET
q 1 0 0 1 351.496 667.4388 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8267 668.8398 Tm
( )Tj
ET
q 1 0 0 1 450.7086 667.4388 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0393 668.8398 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Items that may be reclassified )Tj
1.003 -1.231 Td
(subsequently to profit or loss:)Tj
-1.003 -1.231 Td
(Fair value \(loss\)/gain on debt instruments )Tj
1.003 -1.231 Td
(measured at fair value through other )Tj
0 -1.231 Td
(comprehensive income)Tj
/T1_1 1 Tf
-0.025 Tw 24.651 0 Td
(\(440,541\))Tj
/T1_0 1 Tf
8.015 0 Td
(314,277)Tj
0 Tw -33.668 -1.231 Td
(Impairment losses for debt instruments )Tj
1.003 -1.231 Td
(measured at fair value through other )Tj
0 -1.231 Td
(comprehensive income)Tj
/T1_1 1 Tf
-0.025 Tw 26.884 0 Td
(381)Tj
/T1_0 1 Tf
6.832 0 Td
(2,854)Tj
0 Tw -34.718 -1.231 Td
(Income tax impact relating to items that )Tj
1.003 -1.231 Td
(may be reclassified subsequently to )Tj
0 -1.231 Td
(profit or loss)Tj
/T1_1 1 Tf
-0.025 Tw 25.034 0 Td
(110,040)Tj
/T1_0 1 Tf
7.774 0 Td
(\(79,283\))Tj
0 Tw -33.81 -1.231 Td
(Exchange differences on translation )Tj
1.003 -1.231 Td
(of financial statements of foreign )Tj
-0.025 Tw 0 -1.231 Td
(operations)Tj
/T1_1 1 Tf
25.176 0 Td
(\(19,360\))Tj
/T1_0 1 Tf
8.54 0 Td
(6,420)Tj
0 Tw -34.718 -1.231 Td
(Share of other comprehensive \(loss\)/)Tj
1.003 -1.231 Td
(income of associates, net of related )Tj
0 -1.231 Td
(income tax)Tj
/T1_1 1 Tf
-0.025 Tw 24.651 0 Td
(\(244,599\))Tj
/T1_0 1 Tf
8.015 0 Td
(251,095)Tj
ET
q 1 0 0 1 351.4958 376.4297 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8266 377.8307 Tm
( )Tj
ET
q 1 0 0 1 450.7085 376.4297 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0392 377.8307 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Net other comprehensive \(loss\)/income )Tj
1.003 -1.231 Td
(that may be reclassified to profit or loss )Tj
0 -1.231 Td
(in subsequent periods)Tj
/T1_1 1 Tf
-0.025 Tw 24.651 0 Td
(\(594,079\))Tj
/T1_0 1 Tf
8.015 0 Td
(495,363)Tj
ET
q 1 0 0 1 351.4958 309.4207 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8265 310.8217 Tm
( )Tj
ET
q 1 0 0 1 450.7084 309.4207 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0391 310.8217 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Other comprehensive \(loss\)/income for )Tj
1.003 -1.231 Td
(the year, net of income tax)Tj
/T1_1 1 Tf
-0.025 Tw 24.651 0 Td
(\(274,466\))Tj
/T1_0 1 Tf
8.015 0 Td
(605,396)Tj
ET
q 1 0 0 1 351.4957 258.4116 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8264 259.8126 Tm
( )Tj
ET
q 1 0 0 1 450.7083 258.4116 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0391 259.8126 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Total comprehensive income for the year)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(7,589,071)Tj
/T1_0 1 Tf
7.632 0 Td
(7,761,874)Tj
ET
2.5 w 
q 1 0 0 1 351.4957 222.2481 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 351.4957 218.9156 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8264 220.149 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 450.7083 222.2481 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 450.7083 218.9156 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.039 220.149 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Profit for the year attributable to:)Tj
0 -1.231 Td
(Owners of the Company)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(5,324,958)Tj
/T1_0 1 Tf
7.632 0 Td
(5,501,588)Tj
0 Tw -32.868 -1.231 Td
(Non-controlling interests)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(2,538,579)Tj
/T1_0 1 Tf
7.632 0 Td
(1,654,890)Tj
ET
0.5 w 
q 1 0 0 1 351.4955 151.739 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8263 153.14 Tm
( )Tj
ET
q 1 0 0 1 450.7082 151.739 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0389 153.14 Tm
( )Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw -4.636 -2.462 Td
(7,863,537)Tj
/T1_0 1 Tf
7.632 0 Td
(7,156,478)Tj
ET
2.5 w 
q 1 0 0 1 351.4955 115.5755 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 351.4955 112.243 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8262 113.4765 Tm
( )Tj
ET
2.5 w 
q 1 0 0 1 450.7081 115.5755 cm
0 0 m
87.874 0 l
S
Q
0.835 w 
q 1 0 0 1 450.7081 112.243 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0388 113.4765 Tm
( )Tj
ET

endstreamendobj110 0 obj<</Length 5681>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 2 \226)Tj
0.044 Tc 0.07 Tw 13 0 0 13 56.6929 776.0055 Tm
[(The)12.3 ( Company\222s)12.3 ( Audit)12.3 ( Committee)12.3 ( has)12.3 ( reviewed)12.2 ( the)12.3 ( Group\222s)12.3 ( consolidated)12.2 ( financial)19 ( )]TJ
0.023 Tc 0 Tw 0 -1.231 Td
[(statements for the Period. Set out below are the audited consolidated st\atement of profit)-2 ( )]TJ
0.025 Tc 0.081 Tw 0 -1.231 Td
(or loss and other comprehensive income for the Period and consolidated s\tatement of )Tj
0.04 Tc 0.07 Tw 0 -1.231 Td
[(financial)12.2 ( position)12.3 ( as)12.2 ( at)12.3 ( December)12.2 ( 3)12.2 (1)12.3 (,)12.2 ( 2)12.2 (0)12.3 (2)12.2 (5)12.3 (,)12.2 ( with)12.2 ( comparative)12.3 ( figures)12.2 ( for)12.2 ( 2)12.2 (0)12.3 (2)12.2 (4)12.3 (,)12.2 ( and)15 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(relevant notes to the consolidated financial statements:)Tj
/T1_1 1 Tf
0.113 Tc 0.07 Tw 0 -2.462 Td
[(CONSOLIDATED)12.8 ( STATEMENT)12.8 ( OF)12.8 ( PROFIT)12.8 ( OR)12.8 ( LOSS)12.8 ( AND)12.8 ( OTHER)88 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(COMPREHENSIVE INCOME)Tj
22.416 -2.462 Td
(For the year ended December 31,)Tj
-0.025 Tw 4.945 -1.231 Td
(2025)Tj
/T1_0 1 Tf
7.632 0 Td
(2024)Tj
13 0 3.4833 13 300.3319 600.0055 Tm
(Notes)Tj
/T1_1 1 Tf
6.499 0 Td
(Rmb\222000)Tj
/T1_0 1 Tf
7.798 0 Td
(Rmb\222000)Tj
ET
0 0 0 1 K
0.5 w 
q 1 0 0 1 351.496 595.5955 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 3.4833 13 345.8268 596.9965 Tm
( )Tj
ET
q 1 0 0 1 450.7086 595.5955 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 3.4833 13 445.0394 596.9965 Tm
( )Tj
0.025 Tc -0.025 Tw 13 0 0 13 56.6928 564.9965 Tm
(Revenue)Tj
0 Tc 0 Tw 19.811 0 Td
(3)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 4.901 0 Td
(19,755,490)Tj
/T1_0 1 Tf
7.632 0 Td
(18,064,824)Tj
0 Tw -31.34 -1.231 Td
(Including: Interest income under )Tj
1.003 -1.231 Td
(effective interest method)Tj
/T1_1 1 Tf
-0.025 Tw 23.231 0 Td
(2,907,617)Tj
/T1_0 1 Tf
7.632 0 Td
(2,490,359)Tj
0 Tw -32.868 -1.231 Td
(Operating costs)Tj
/T1_1 1 Tf
-0.025 Tw 24.329 0 Td
(\(12,980,298\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(10,812,360\))Tj
ET
q 1 0 0 1 351.496 512.5864 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8267 513.9874 Tm
( )Tj
ET
q 1 0 0 1 450.7086 512.5864 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0393 513.9874 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Gross Profit)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(6,775,192)Tj
/T1_0 1 Tf
7.632 0 Td
(7,252,464)Tj
0 Tw -32.868 -1.231 Td
(Securities investment gains)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(2,819,166)Tj
/T1_0 1 Tf
7.632 0 Td
(1,735,120)Tj
0 Tw -32.868 -1.231 Td
(Other income and gains and losses)Tj
0 Tc 19.811 0 Td
(4)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 6.226 0 Td
(802,333)Tj
/T1_0 1 Tf
7.632 0 Td
(889,145)Tj
0 Tw -33.668 -1.231 Td
(Administrative expenses)Tj
/T1_1 1 Tf
-0.025 Tw 25.654 0 Td
(\(146,934\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(160,894\))Tj
0 Tw -33.285 -1.231 Td
(Other expenses)Tj
/T1_1 1 Tf
-0.025 Tw 25.654 0 Td
(\(192,198\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(167,289\))Tj
0 Tw -33.285 -1.231 Td
(Impairment losses under expected credit )Tj
1.003 -1.231 Td
(loss model, net of reversal)Tj
/T1_1 1 Tf
-0.025 Tw 25.176 0 Td
(\(45,077\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(19,454\))Tj
0 Tw -33.81 -1.231 Td
(Share of )Tj
-0.025 Tw (profit)Tj
0 Tw ( of associates)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(1,175,713)Tj
/T1_0 1 Tf
8.432 0 Td
(939,399)Tj
0 Tw -33.668 -1.231 Td
(Share of )Tj
-0.025 Tw (profit)Tj
0 Tw ( of joint ventures)Tj
/T1_1 1 Tf
-0.025 Tw 26.037 0 Td
(148,298)Tj
/T1_0 1 Tf
7.632 0 Td
(130,742)Tj
0 Tw -33.668 -1.231 Td
(Finance costs)Tj
/T1_1 1 Tf
-0.025 Tw 24.854 0 Td
(\(1,546,906\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(1,741,651\))Tj
ET
q 1 0 0 1 351.4959 333.5773 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8266 334.9783 Tm
( )Tj
ET
q 1 0 0 1 450.7085 333.5773 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0392 334.9783 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Profit before tax)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(9,789,587)Tj
/T1_0 1 Tf
7.632 0 Td
(8,857,582)Tj
0 Tw -32.868 -1.231 Td
(Income tax expense)Tj
0 Tc 19.811 0 Td
(5)Tj
/T1_1 1 Tf
0.025 Tc -0.025 Tw 5.043 0 Td
(\(1,926,050\))Tj
/T1_0 1 Tf
7.632 0 Td
(\(1,701,104\))Tj
ET
q 1 0 0 1 351.4958 282.5683 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8266 283.9692 Tm
( )Tj
ET
q 1 0 0 1 450.7085 282.5683 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0392 283.9692 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Profit for the year)Tj
/T1_1 1 Tf
-0.025 Tw 25.237 0 Td
(7,863,537)Tj
/T1_0 1 Tf
7.632 0 Td
(7,156,478)Tj
ET
q 1 0 0 1 351.4958 247.5592 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8265 248.9602 Tm
( )Tj
ET
q 1 0 0 1 450.7084 247.5592 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0391 248.9602 Tm
( )Tj
0.025 Tc -29.873 -2.462 Td
(Other comprehensive income)Tj
0 -1.231 Td
(Items that will not be reclassified )Tj
1.003 -1.231 Td
(subsequently to profit or loss:)Tj
-1.003 -1.231 Td
(Fair value gain on equity instrument )Tj
1.003 -1.231 Td
(investments measured at fair value )Tj
0 -1.231 Td
(through other comprehensive income)Tj
/T1_1 1 Tf
-0.025 Tw 25.034 0 Td
(426,150)Tj
/T1_0 1 Tf
7.632 0 Td
(146,710)Tj
0 Tw -33.668 -1.231 Td
(Income tax impact relating to items that )Tj
1.003 -1.231 Td
(will not be reclassified subsequently to )Tj
0 -1.231 Td
(profit or loss)Tj
/T1_1 1 Tf
-0.025 Tw 24.651 0 Td
(\(106,537\))Tj
/T1_0 1 Tf
8.157 0 Td
(\(36,677\))Tj
ET
q 1 0 0 1 351.4956 84.5502 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_1 1 Tf
0 Tc 0 Tw 13 0 0 13 345.8263 85.9512 Tm
( )Tj
ET
q 1 0 0 1 450.7082 84.5502 cm
0 0 m
87.874 0 l
S
Q
BT
/T1_0 1 Tf
13 0 0 13 445.0389 85.9512 Tm
( )Tj
ET

endstreamendobj104 0 obj<</Length 32238>>stream
BT
0 0 0 1 k
/Perceptual ri
/GS0 gs
/T1_0 1 Tf
0.025 Tc 12 0 0 12 285.0378 18.7502 Tm
(\226 1 \226)Tj
0.065 Tw 13 0 3.4833 13 55.3588 773.5878 Tm
(Hong Kong Stock Exchanges and Clearing Limited and The Stock Exchange of\ Hong )Tj
0.03 Tc 0.078 Tw 0.33 -1.231 Td
[(Kong)5 ( )0.5 (Limited)5 ( )0.5 (take)5 ( )0.5 (no)5 ( )0.5 (responsibility)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (contents)5 ( )0.5 (of)5 ( )0.6 (this)5 ( )0.5 (announcement,)5 ( )0.5 (make)5 ( )0.5 (no)5 ( )]TJ
0.027 Tc 0.081 Tw 0.33 -1.231 Td
[(representation)2 ( )0.5 (as)2 ( )0.5 (to)2 ( )0.5 (its)2 ( )0.5 (accuracy)2 ( )0.5 (or)2 ( )0.5 (completeness)2 ( )0.5 (and)1.9 ( )0.5 (expressly)2 ( )0.5 (disclaim)2 ( any)2 ( )0.5 (liability)2 ( )]TJ
0.025 Tc 0.077 Tw 0.33 -1.231 Td
(whatsoever for any loss howsoever arising from or in reliance upon the w\hole or any )Tj
0 Tw 0.33 -1.231 Td
(part of the contents of this announcement.)Tj
ET
/PlacedPDF /MC0 BDC 
q
77.489 600.682 440.297 93.166 re
W n
/CS0 cs 1  scn
/GS1 gs
q 1 0 0 1 166.1255 637.5778 cm
0 0 m
33.501 0 l
33.501 53.021 l
14.851 45.424 3.162 20.82 0 0 c
f
Q
0.4  scn
q 1 0 0 1 199.627 693.7419 cm
0 0 m
0 0.106 l
-56.185 0.106 l
-56.185 -45.586 l
-46.855 -27.62 -24.562 -5.633 0 0 c
f
Q
1  scn
q 1 0 0 1 150.668 637.5778 cm
0 0 m
2.725 0 l
6.903 22.38 28.855 48.883 48.959 54.305 c
48.959 54.694 l
28.298 49.144 4.291 22.956 0 0 c
f
Q
0 0 0 1 k
q 1 0 0 1 212.6607 652.3361 cm
0 0 m
-6.571 -11.365 l
-2.185 -11.365 l
-2.594 -13.956 l
-10.997 -13.956 l
-4.555 -2.591 l
-8.608 -2.591 l
-8.199 0 l
h
f
Q
q 1 0 0 1 217.232 652.3361 cm
0 0 m
-0.863 -5.46 l
1.932 -5.46 l
2.795 0 l
5.553 0 l
3.346 -13.956 l
0.589 -13.956 l
1.522 -8.051 l
-1.272 -8.051 l
-2.205 -13.956 l
-4.964 -13.956 l
-2.757 0 l
h
f
Q
q 1 0 0 1 230.8565 652.3361 cm
0 0 m
-0.409 -2.591 l
-3.205 -2.591 l
-3.684 -5.626 l
-1.223 -5.626 l
-1.632 -8.218 l
-4.094 -8.218 l
-4.591 -11.365 l
-1.759 -11.365 l
-2.168 -13.956 l
-7.758 -13.956 l
-5.553 0 l
h
f
Q
q 1 0 0 1 236.2676 642.8982 cm
0 0 m
-0.182 -1.147 -0.619 -4.738 -4.08 -4.738 c
-4.766 -4.738 -5.543 -4.627 -6.086 -4.313 c
-5.65 -1.555 l
-5.388 -1.999 -4.903 -2.333 -4.33 -2.333 c
-3.034 -2.333 -2.904 -0.927 -2.757 0 c
-1.266 9.439 l
1.492 9.439 l
h
f
Q
q 1 0 0 1 242.9405 652.3361 cm
0 0 m
-2.206 -13.956 l
-4.964 -13.956 l
-2.757 0 l
h
f
Q
q 1 0 0 1 250.7686 652.3361 cm
0 0 m
1.144 -13.956 l
-1.798 -13.956 l
-1.945 -11.605 l
-4.74 -11.605 l
-5.612 -13.956 l
-8.351 -13.956 l
-2.905 0 l
h
-2.123 -5.701 m
-2.104 -3.591 l
-2.14 -3.591 l
-2.77 -5.701 l
-3.951 -9.42 l
-2.007 -9.42 l
h
f
Q
q 1 0 0 1 258.4317 652.3361 cm
0 0 m
2.112 -8.421 l
2.154 -8.384 l
2.093 -7.717 2.152 -6.996 2.267 -6.275 c
3.257 0 l
6.016 0 l
3.81 -13.956 l
1.2 -13.956 l
-0.874 -5.535 l
-0.917 -5.57 l
-1.011 -6.978 l
-1.082 -7.551 l
-2.094 -13.956 l
-4.852 -13.956 l
-2.647 0 l
h
f
Q
q 1 0 0 1 274.9297 646.155 cm
0 0 m
-0.172 -1.092 l
-0.64 -4.054 -1.986 -7.995 -5.743 -7.995 c
-9.501 -7.995 -10.084 -3.962 -9.595 -0.87 c
-9.086 2.35 -7.41 6.403 -3.467 6.403 c
-1.338 6.403 -0.161 5.07 0.118 3.091 c
-2.729 2.054 l
-2.749 2.757 -2.797 3.85 -3.852 3.85 c
-5.704 3.96 -6.433 0.518 -6.642 -0.797 c
-6.869 -2.24 -7.283 -5.442 -5.247 -5.442 c
-3.84 -5.442 -3.319 -3.554 -3.167 -2.593 c
-4.926 -2.593 l
-4.516 0 l
h
f
Q
q 1 0 0 1 288.5699 652.3361 cm
0 0 m
-0.409 -2.591 l
-3.205 -2.591 l
-3.685 -5.626 l
-1.223 -5.626 l
-1.632 -8.218 l
-4.094 -8.218 l
-4.591 -11.365 l
-1.759 -11.365 l
-2.169 -13.956 l
-7.758 -13.956 l
-5.553 0 l
h
f
Q
q 1 0 0 1 293.3623 652.3361 cm
0 0 m
0.489 -1.943 l
0.621 -2.628 0.784 -3.351 0.818 -4.072 c
0.855 -4.072 l
1.118 -3.351 1.451 -2.646 1.821 -1.943 c
2.961 0 l
5.941 0 l
1.894 -6.756 l
3.957 -13.956 l
0.756 -13.956 l
0.219 -11.734 l
0.07 -11.031 0.013 -10.346 -0.062 -9.643 c
-0.099 -9.643 l
-0.413 -10.346 -0.688 -11.031 -1.04 -11.734 c
-2.205 -13.956 l
-5.315 -13.956 l
-1.216 -6.756 l
-3.109 0 l
h
f
Q
q 1 0 0 1 299.2657 638.3806 cm
0 0 m
2.206 13.956 l
5.073 13.956 l
5.667 13.956 9.871 14.326 9.161 9.828 c
8.747 7.219 6.826 5.72 4.272 5.72 c
3.667 5.756 l
2.757 0 l
h
4.021 7.996 m
5.346 7.941 6.184 8.44 6.408 9.865 c
6.566 10.865 6.307 11.679 5.122 11.679 c
4.604 11.679 l
h
f
Q
q 1 0 0 1 308.833 638.3806 cm
0 0 m
2.206 13.956 l
4.982 13.956 l
6.741 13.956 9.857 13.771 9.256 9.958 c
9.013 8.421 8.193 7.107 6.704 6.349 c
8.126 0 l
5.22 0 l
3.813 6.44 l
3.775 6.44 l
2.758 0 l
h
4.017 7.959 m
4.494 7.941 l
5.754 7.941 6.388 8.792 6.568 9.939 c
6.727 10.939 6.374 11.754 4.975 11.679 c
4.604 11.679 l
h
f
Q
q 1 0 0 1 326.9561 652.3361 cm
0 0 m
-0.409 -2.591 l
-3.204 -2.591 l
-3.684 -5.626 l
-1.222 -5.626 l
-1.632 -8.218 l
-4.093 -8.218 l
-4.59 -11.365 l
-1.759 -11.365 l
-2.168 -13.956 l
-7.758 -13.956 l
-5.552 0 l
h
f
Q
q 1 0 0 1 334.4541 649.1901 cm
0 0 m
-0.479 0.48 -1.1 0.888 -1.859 0.888 c
-2.71 0.888 -3.328 0.371 -3.462 -0.481 c
-3.826 -2.775 0.355 -2.905 -0.241 -6.682 c
-0.634 -9.162 -2.354 -11.03 -4.945 -11.03 c
-5.723 -11.03 -6.647 -10.79 -7.204 -10.327 c
-6.787 -7.699 l
-6.21 -8.145 -5.628 -8.44 -4.813 -8.44 c
-3.926 -8.44 -3.128 -7.847 -2.981 -6.922 c
-2.812 -5.849 -3.599 -5.441 -4.288 -4.886 c
-5.711 -3.813 -6.527 -2.775 -6.206 -0.74 c
-5.857 1.462 -4.279 3.368 -1.91 3.368 c
-1.021 3.368 -0.264 3.128 0.425 2.684 c
h
f
Q
q 1 0 0 1 343.1553 649.1901 cm
0 0 m
-0.479 0.48 -1.1 0.888 -1.859 0.888 c
-2.71 0.888 -3.328 0.371 -3.463 -0.481 c
-3.827 -2.775 0.354 -2.905 -0.242 -6.682 c
-0.635 -9.162 -2.354 -11.03 -4.946 -11.03 c
-5.723 -11.03 -6.647 -10.79 -7.204 -10.327 c
-6.788 -7.699 l
-6.211 -8.145 -5.629 -8.44 -4.813 -8.44 c
-3.926 -8.44 -3.129 -7.847 -2.982 -6.922 c
-2.812 -5.849 -3.6 -5.441 -4.289 -4.886 c
-5.712 -3.813 -6.527 -2.775 -6.207 -0.74 c
-5.858 1.462 -4.279 3.368 -1.911 3.368 c
-1.022 3.368 -0.265 3.128 0.424 2.684 c
h
f
Q
q 1 0 0 1 348.5948 652.3361 cm
0 0 m
0.132 -6.663 l
0.144 -7.644 0.022 -8.644 -0.041 -9.625 c
-0.003 -9.625 l
0.282 -8.644 0.514 -7.644 0.873 -6.663 c
3.313 0 l
5.498 0 l
5.754 -9.625 l
5.791 -9.625 l
6.038 -8.644 6.208 -7.681 6.531 -6.7 c
8.682 0 l
11.569 0 l
6.475 -13.956 l
4.088 -13.956 l
3.827 -6.588 l
3.869 -5.738 3.837 -4.886 3.842 -4.035 c
3.805 -4.035 l
3.522 -4.886 3.296 -5.738 2.958 -6.588 c
0.201 -13.956 l
-2.204 -13.956 l
-2.813 0 l
h
f
Q
q 1 0 0 1 367.1641 652.3361 cm
0 0 m
1.144 -13.956 l
-1.798 -13.956 l
-1.945 -11.605 l
-4.741 -11.605 l
-5.612 -13.956 l
-8.351 -13.956 l
-2.906 0 l
h
-2.123 -5.701 m
-2.104 -3.591 l
-2.141 -3.591 l
-2.771 -5.701 l
-3.952 -9.42 l
-2.007 -9.42 l
h
f
Q
q 1 0 0 1 374.3077 652.3361 cm
0 0 m
0.844 -3.794 l
0.939 -4.479 l
0.976 -4.479 l
1.454 -3.443 l
3.239 0 l
6.329 0 l
1.923 -7.274 l
0.867 -13.956 l
-1.892 -13.956 l
-0.836 -7.274 l
-3.035 0 l
h
f
Q
q 1 0 0 1 404.4678 645.3581 cm
0 0 m
-0.828 -5.236 -3.582 -7.198 -6.043 -7.198 c
-8.505 -7.198 -10.637 -5.236 -9.81 0 c
-8.982 5.239 -6.229 7.2 -3.768 7.2 c
-1.305 7.2 0.828 5.239 0 0 c
-5.639 -4.646 m
-3.808 -4.646 -3.119 -1.109 -2.944 0 c
-2.747 1.24 -2.339 4.647 -4.171 4.647 c
-6.004 4.647 -6.671 1.24 -6.867 0 c
-7.042 -1.109 -7.472 -4.646 -5.639 -4.646 c
f
Q
q 1 0 0 1 408.6602 639.9177 cm
0 0 m
-0.152 -0.963 -1.056 -1.758 -2.037 -1.758 c
-3.017 -1.758 -3.669 -0.963 -3.517 0 c
-3.364 0.962 -2.462 1.759 -1.48 1.759 c
-0.5 1.759 0.151 0.962 0 0 c
f
Q
q 1 0 0 1 446.7276 639.9177 cm
0 0 m
-0.151 -0.963 -1.055 -1.758 -2.037 -1.758 c
-3.017 -1.758 -3.669 -0.963 -3.516 0 c
-3.365 0.962 -2.461 1.759 -1.48 1.759 c
-0.499 1.759 0.151 0.962 0 0 c
f
Q
q 1 0 0 1 423.2803 652.3361 cm
0 0 m
-1.796 -11.365 l
1.091 -11.365 l
0.681 -13.956 l
-4.964 -13.956 l
-2.757 0 l
h
f
Q
q 1 0 0 1 434.3848 652.3361 cm
0 0 m
-0.41 -2.591 l
-2.595 -2.591 l
-4.391 -13.956 l
-7.147 -13.956 l
-5.352 -2.591 l
-7.517 -2.591 l
-7.107 0 l
h
f
Q
q 1 0 0 1 433.9922 638.3806 cm
0 0 m
2.206 13.956 l
4.297 13.956 l
4.779 13.956 10.665 14.659 9.433 6.867 c
8.804 2.888 6.812 0 2.461 0 c
h
6.678 6.886 m
6.959 8.662 6.848 11.475 4.571 11.475 c
3.15 2.48 l
5.353 2.369 6.402 5.146 6.678 6.886 c
f
Q
/CS0 cs 1  scn
201.496 657.206 244.34 1.374 re
f
0 0 0 1 k
q 1 0 0 1 385.3155 645.3151 cm
0 0 m
0.863 3.748 1.686 7.319 6.019 7.296 c
8.699 7.281 9.394 5.607 8.588 2.566 c
6.012 2.58 l
6.446 4.464 6.313 5.173 5.53 5.177 c
4.051 5.184 3.499 3.616 2.662 -0.015 c
1.827 -3.646 1.656 -5.215 3.136 -5.225 c
4.354 -5.23 4.707 -3.465 5 -2.346 c
7.593 -2.359 l
6.722 -6.148 5.101 -7.357 2.646 -7.343 c
-1.687 -7.32 -0.854 -3.709 0 0 c
f
Q
q 1 0 0 1 206.7022 677.6359 cm
0 0 m
-0.638 0.692 -1.44 1.394 -2.307 1.997 c
-3.604 0.199 l
-2.777 -0.527 -1.982 -1.356 -1.153 -2.396 c
-0.977 -1.59 -0.561 -0.838 0 0 c
f
Q
q 1 0 0 1 215.6363 677.2369 cm
0 0 m
-1.584 2.396 l
-2.705 1.853 -3.936 1.453 -5.188 1.199 c
-5.188 -7.589 l
-5.237 -9.996 -5.702 -12.287 -6.629 -14.379 c
-5.983 -14.521 -5.386 -14.853 -4.899 -15.377 c
-4.239 -14.033 -3.859 -12.619 -3.747 -11.184 c
-3.493 -9.713 -3.401 -7.753 -3.458 -5.193 c
-2.882 -5.193 l
-2.882 -15.377 l
-1.008 -15.377 l
-1.008 -5.193 l
-0.144 -5.193 l
-0.144 -2.596 l
-3.458 -2.596 l
-3.458 -0.799 l
-2.507 -0.771 -1.361 -0.518 0 0 c
f
Q
q 1 0 0 1 209.0079 668.6496 cm
0 0 m
1.153 0.999 l
1.153 3.795 l
0.919 3.546 0.533 3.292 0 2.996 c
0 4.593 l
1.153 4.593 l
1.153 6.99 l
0 6.99 l
0 10.784 l
-1.873 10.784 l
-1.987 10.811 -2.078 10.743 -2.017 10.585 c
-2.078 10.518 -2.035 10.44 -2.017 10.385 c
-1.86 10.293 -1.818 10.206 -1.873 10.185 c
-1.873 6.99 l
-3.314 6.99 l
-3.314 4.994 l
-4.056 5.642 -4.759 6.159 -5.332 6.39 c
-6.341 4.394 l
-5.701 4.053 -4.956 3.341 -4.18 2.396 c
-3.9 3.067 -3.513 3.799 -3.026 4.593 c
-1.873 4.593 l
-1.873 1.598 l
-3.026 0.999 l
-3.056 0.923 -3.211 0.98 -3.458 1.199 c
-3.689 1.332 -4.02 1.664 -4.467 2.197 c
-5.04 -0.813 -5.646 -3.193 -6.197 -4.992 c
-4.467 -6.79 l
-4.048 -5.523 -3.647 -3.622 -3.17 -0.998 c
-3.077 -1.145 -2.958 -1.574 -2.882 -2.396 c
-1.873 -1.598 l
-1.873 -3.794 l
-1.824 -4.031 -2.021 -4.178 -2.45 -4.193 c
-2.591 -4.168 -2.852 -4.139 -3.17 -3.994 c
-2.859 -4.841 -2.578 -5.786 -2.306 -6.989 c
-0.762 -6.723 0.026 -6.089 0 -4.992 c
h
f
Q
q 1 0 0 1 222.1065 675.2399 cm
0 0 m
0.473 1.001 0.867 1.665 1.298 1.997 c
0.452 2.951 -0.301 3.585 -1.009 3.994 c
-2.017 2.197 l
-1.321 1.674 -0.611 0.953 0 0 c
f
Q
q 1 0 0 1 228.3033 675.4401 cm
0 0 m
2.882 0 l
2.882 2.596 l
-4.756 2.596 l
-4.756 0 l
-2.018 0 l
-2.018 -10.185 l
-5.765 -10.185 l
-5.765 -12.782 l
3.747 -12.782 l
3.747 -10.185 l
0 -10.185 l
h
f
Q
q 1 0 0 1 222.6831 673.0427 cm
0 0 m
-0.843 0.682 -1.63 1.268 -2.45 1.598 c
-3.603 0 l
-2.897 -0.487 -2.124 -1.16 -1.298 -2.197 c
-0.977 -1.365 -0.589 -0.692 0 0 c
f
Q
q 1 0 0 1 221.6739 670.2473 cm
0 0 m
-0.642 -2.363 -1.437 -4.4 -2.45 -5.991 c
-0.719 -8.188 l
0.145 -6.243 0.905 -3.981 1.585 -1.398 c
0.941 -0.968 0.413 -0.51 0 0 c
f
Q
q 1 0 0 1 241.1128 672.6438 cm
0 0 m
6.773 0 l
6.773 3.994 l
0 3.994 l
0 4.195 l
2.568 4.262 4.87 4.417 6.917 4.793 c
5.909 6.989 l
4.054 6.406 1.485 6.172 -1.73 6.191 c
-1.73 4.593 l
-3.018 5.841 -3.764 6.503 -4.035 6.591 c
-5.043 4.793 l
-4.264 4.027 -3.538 3.228 -2.882 2.396 c
-2.828 3.121 -2.455 3.813 -1.73 4.394 c
-1.73 -0.999 l
-1.794 -4.652 -2.237 -7.519 -3.17 -9.585 c
-2.449 -9.703 -1.857 -10.083 -1.297 -10.784 c
-0.928 -9.703 -0.604 -8.416 -0.289 -6.99 c
-0.105 -5.393 0.022 -4.047 0 -2.796 c
h
0 2.197 4.9 -0.399 re
f
Q
q 1 0 0 1 238.8077 672.4445 cm
0 0 m
0.144 0.199 l
-0.67 1.009 -1.472 1.72 -2.306 2.197 c
-2.823 1.438 -3.154 0.804 -3.315 0.399 c
-2.436 -0.386 -1.647 -1.196 -1.008 -1.998 c
-1.008 -2.197 l
-0.642 -1.225 -0.312 -0.513 0 0 c
f
Q
241.545 668.849 5.909 3.396 re
243.274 670.847 2.306 -0.399 re
f
q 1 0 0 1 237.3667 670.2473 cm
0 0 m
-0.51 -2.986 -1.13 -5.268 -1.874 -6.79 c
-0.144 -8.587 l
0.418 -7.121 0.96 -4.82 1.441 -1.598 c
0.954 -1.231 0.468 -0.665 0 0 c
f
Q
q 1 0 0 1 247.7427 668.4493 cm
0 0 m
-6.63 0 l
-6.63 -5.192 l
-6.594 -5.549 -6.495 -5.89 -6.341 -6.191 c
-6.095 -6.387 -5.848 -6.513 -5.477 -6.591 c
-0.577 -6.591 l
0.042 -6.513 0.443 -5.714 0.72 -4.194 c
0.435 -4.046 0.225 -3.89 0 -3.595 c
h
-2.45 -1.598 0.865 -0.599 re
-4.9 -1.598 0.865 -0.599 re
-1.009 -4.194 m
-1.141 -4.397 -1.239 -4.456 -1.298 -4.394 c
-4.611 -4.394 l
-4.757 -4.456 -4.849 -4.368 -4.9 -4.194 c
-4.9 -3.794 l
-0.865 -3.794 l
-0.929 -3.979 -0.971 -4.135 -1.009 -4.194 c
f
Q
q 1 0 0 1 264.4434 676.6379 cm
0 0 m
-2.738 0 l
-2.839 0.734 -3.078 1.71 -3.458 2.995 c
-5.333 2.197 l
-5.049 1.476 -4.844 0.744 -4.756 0 c
-7.206 0 l
-7.206 -2.596 l
0 -2.596 l
h
f
Q
q 1 0 0 1 257.959 670.2473 cm
0 0 m
-0.78 0.749 -1.441 1.645 -2.018 2.796 c
-2.018 3.395 l
-0.865 3.395 l
-0.865 5.792 l
-2.018 5.792 l
-2.018 9.187 l
-4.18 9.187 l
-4.215 9.213 -4.243 9.154 -4.18 8.987 c
-4.243 8.979 -4.194 8.891 -4.035 8.787 c
-3.997 8.608 -3.947 8.501 -3.891 8.388 c
-3.891 5.792 l
-5.909 5.792 l
-5.909 3.395 l
-3.891 3.395 l
-4.439 0.982 -5.178 -0.772 -6.198 -1.996 c
-5.763 -2.713 -5.417 -3.6 -5.189 -4.593 c
-4.792 -4.234 -4.405 -3.718 -3.891 -2.996 c
-3.891 -8.388 l
-2.018 -8.388 l
-2.018 -1.398 l
-1.717 -1.738 -1.322 -2.187 -0.721 -2.796 c
-0.541 -1.592 -0.302 -0.675 0 0 c
f
Q
q 1 0 0 1 263.4346 666.8518 cm
0 0 m
-0.064 -1.385 -0.184 -2.04 -0.288 -1.997 c
-0.395 -2.04 -0.43 -1.971 -0.433 -1.797 c
-0.433 6.191 l
-5.188 6.191 l
-5.188 1.997 l
-5.187 1.033 -5.376 0.047 -5.764 -0.798 c
-6.137 -1.854 -6.671 -2.653 -7.35 -3.395 c
-6.755 -3.863 -6.25 -4.438 -5.764 -4.993 c
-4.258 -3.404 -3.47 -1.366 -3.458 1.198 c
-3.314 3.795 l
-2.306 3.795 l
-2.306 -2.197 l
-2.33 -2.897 -2.308 -3.356 -2.306 -3.595 c
-2.224 -3.941 -2.104 -4.204 -1.874 -4.394 c
-1.696 -4.682 -1.479 -4.819 -1.297 -4.792 c
-0.144 -4.792 l
0.246 -4.848 0.542 -4.701 0.721 -4.394 c
0.992 -4.106 1.217 -2.985 1.441 -0.999 c
1.217 -0.928 0.964 -0.762 0.721 -0.599 c
0.379 -0.294 0.175 -0.137 0 0 c
f
Q
q 1 0 0 1 279.4156 679.2346 cm
0 0 m
-10.232 0 l
-10.232 -2.596 l
-7.206 -2.596 l
-7.782 -3.395 l
-6.342 -4.124 -5.447 -4.67 -5.044 -4.992 c
-10.088 -4.992 l
-10.088 -17.375 l
-8.215 -17.375 l
-8.215 -13.38 l
-5.621 -13.38 l
-5.621 -16.975 l
-3.604 -16.975 l
-3.604 -13.38 l
-1.008 -13.38 l
-1.008 -14.379 l
-1.028 -14.801 -1.317 -15.006 -1.874 -14.979 c
-2.119 -14.997 -2.415 -14.967 -2.738 -14.979 c
-2.394 -15.757 -2.155 -16.684 -2.017 -17.773 c
-0.162 -17.717 0.793 -17.151 0.865 -15.977 c
0.865 -4.992 l
-2.594 -4.992 l
-2.017 -4.593 l
-2.45 -4.394 l
-1 -3.402 0.161 -2.476 1.009 -1.598 c
h
-5.621 -11.184 -2.594 0.798 re
-5.621 -8.188 -2.594 0.799 re
-4.179 -3.195 m
-5.188 -2.596 l
-3.026 -2.596 l
h
-1.008 -11.184 -2.594 0.798 re
-3.604 -7.39 2.594 -0.799 re
f
Q
q 1 0 0 1 291.9375 679.633 cm
0 0 m
-2.163 -0.599 l
-2.053 -0.944 -1.926 -1.265 -1.874 -1.597 c
-7.061 -1.597 l
-7.061 -3.794 l
5.619 -3.794 l
5.619 -1.597 l
0.576 -1.597 l
0.486 -1.168 0.262 -0.622 0 0 c
f
Q
295.109 675.44 -7.926 -4.393 re
293.235 673.044 -4.179 0.399 re
f
q 1 0 0 1 285.4522 661.8596 cm
0 0 m
1.874 0 l
1.874 6.591 l
9.656 6.591 l
9.656 2.796 l
9.703 2.622 9.633 2.534 9.512 2.596 c
8.647 2.596 l
8.647 6.191 l
2.739 6.191 l
2.739 1.199 l
4.612 1.199 l
4.612 1.797 l
6.917 1.797 l
6.917 1.199 l
8.647 1.199 l
8.647 1.797 l
9.027 1.16 9.176 0.458 9.224 -0.398 c
10.175 -0.226 10.814 -0.011 11.097 0.399 c
11.421 0.71 11.582 1.149 11.673 1.598 c
11.673 8.787 l
0 8.787 l
h
6.917 3.794 -2.306 0.599 re
f
Q
q 1 0 0 1 312.962 665.0549 cm
0 0 m
0.18 0.948 0.573 1.679 1.152 2.197 c
0.045 2.771 -0.934 3.639 -1.874 4.992 c
0.288 4.992 l
0.288 10.185 l
-2.738 10.185 l
-2.738 10.585 l
0.864 10.585 l
0.864 12.981 l
-2.738 12.981 l
-2.738 14.179 l
-4.756 14.179 l
-4.783 14.248 -4.824 14.19 -4.756 13.979 c
-4.824 13.965 -4.789 13.878 -4.756 13.78 c
-4.648 13.713 -4.606 13.634 -4.611 13.581 c
-4.611 12.981 l
-7.927 12.981 l
-8.801 13.761 -9.532 14.288 -10.231 14.578 c
-11.097 12.581 l
-10.3 12.122 -9.554 11.411 -8.936 10.585 c
-8.73 11.216 -8.427 11.831 -7.927 12.382 c
-7.927 10.585 l
-4.611 10.585 l
-4.611 10.185 l
-7.494 10.185 l
-7.494 4.992 l
-5.477 4.992 l
-5.507 4.78 -5.592 4.663 -5.765 4.593 c
-5.838 4.389 -5.915 4.302 -5.909 4.193 c
-6.605 3.581 -7.365 3.073 -8.215 2.796 c
-8.215 5.991 l
-11.817 5.991 l
-11.817 3.395 l
-10.231 3.395 l
-10.231 0.998 l
-10.869 0.432 -11.425 0.05 -11.961 -0.199 c
-11.425 -1.1 -11.081 -2.173 -10.809 -3.396 c
-10.095 -2.466 -9.518 -1.773 -9.08 -1.398 c
-8.427 -2.319 -7.442 -2.885 -6.197 -2.996 c
0.576 -3.195 l
0.552 -2.943 0.545 -2.757 0.576 -2.597 c
0.552 -1.705 0.714 -0.847 1.009 0 c
-1.01 -0.199 l
-2.738 -0.36 l
-2.738 2.796 l
-1.799 1.328 -0.918 0.421 0 0 c
-2.738 7.988 1.152 -0.999 re
-4.611 6.989 -1.153 0.999 re
-6.197 -0.4 m
-6.485 -0.389 -6.852 -0.261 -7.351 0 c
-7.752 0.255 -8.068 0.616 -8.215 0.998 c
-8.215 1.997 l
-7.984 1.601 -7.667 1.055 -7.351 0.199 c
-6.225 0.772 -5.331 1.514 -4.611 2.396 c
-4.611 -0.4 l
h
f
Q
q 1 0 0 1 304.7471 673.6418 cm
0 0 m
-0.916 1.04 -1.746 1.712 -2.449 1.998 c
-3.458 0.2 l
-2.449 -0.492 -1.697 -1.242 -1.153 -1.998 c
-1.153 -2.197 l
-0.854 -1.204 -0.479 -0.492 0 0 c
f
Q
q 1 0 0 1 327.7901 675.0398 cm
0 0 m
-0.814 1.368 -1.313 2.762 -1.585 4.195 c
-3.459 3.596 l
-3.172 1.65 -2.623 -0.046 -1.729 -1.597 c
-0.935 -3.137 0.094 -4.318 1.297 -5.192 c
1.641 -4.201 2.092 -3.353 2.738 -2.595 c
1.641 -2.065 0.739 -1.178 0 0 c
f
Q
q 1 0 0 1 319.1436 669.6482 cm
0 0 m
0.062 0.011 0.211 0.187 0.433 0.399 c
0.59 0.713 0.724 0.889 0.865 0.999 c
2.342 3.258 3.385 5.608 3.891 7.988 c
2.017 8.787 l
1.584 7.589 l
0.752 4.965 -0.346 3.112 -1.73 1.997 c
-1.098 1.64 -0.563 0.937 0 0 c
f
Q
q 1 0 0 1 325.0518 668.0505 cm
0 0 m
0.501 -0.819 0.812 -1.473 1.009 -1.996 c
-0.35 -2.174 -1.427 -2.301 -2.307 -2.396 c
-2.046 -1.823 -1.939 -1.541 -1.874 -1.398 c
-0.865 1.797 l
-0.548 2.623 -0.321 3.442 -0.144 4.194 c
-0.412 4.32 -1.117 4.555 -2.307 4.993 c
-2.545 3.541 -2.799 2.438 -3.026 1.598 c
-3.892 -1.398 l
-4.324 -2.396 l
-5.621 -2.396 l
-5.93 -2.438 -6.197 -2.418 -6.484 -2.396 c
-6.409 -2.438 -6.388 -2.496 -6.341 -2.596 c
-6.324 -2.642 -6.303 -2.691 -6.341 -2.796 c
-5.476 -5.592 l
1.73 -4.193 l
1.943 -4.642 2.142 -5.314 2.449 -6.191 c
3.008 -5.52 3.682 -5.119 4.467 -4.992 c
3.703 -2.701 2.852 -0.731 1.874 0.798 c
h
f
Q
q 1 0 0 1 346.5088 677.4366 cm
0 0 m
-0.577 0.798 l
-3.747 0.798 l
-3.574 1.223 -3.504 1.583 -3.459 1.797 c
-5.332 2.196 l
-5.713 0.238 -6.214 -1.253 -6.918 -2.197 c
-6.918 1.797 l
-11.962 1.797 l
-11.962 -5.393 l
-9.945 -5.393 l
-9.945 -12.183 l
-10.376 -12.183 l
-10.376 -5.992 l
-12.105 -5.992 l
-12.224 -6.09 -12.294 -6.178 -12.25 -6.391 c
-12.294 -6.471 -12.251 -6.568 -12.105 -6.591 c
-12.076 -6.734 -12.034 -6.831 -11.962 -6.99 c
-11.962 -12.382 l
-12.131 -12.516 -12.271 -12.546 -12.538 -12.581 c
-12.364 -13.189 -12.237 -14.125 -12.105 -15.377 c
-6.63 -13.979 l
-6.63 -11.383 l
-7.297 -11.639 -7.847 -11.766 -8.215 -11.783 c
-8.215 -9.386 l
-6.773 -9.386 l
-6.773 -7.789 l
-6.63 -8.588 l
-6.516 -8.636 -6.473 -8.616 -6.485 -8.588 c
-6.368 -8.577 -6.326 -8.558 -6.341 -8.588 c
-6.341 -15.577 l
-4.468 -15.577 l
-4.468 -14.778 l
-2.45 -14.778 l
-2.45 -15.577 l
-0.577 -15.577 l
-0.577 -8.388 l
-0.289 -8.588 l
-0.154 -7.407 0.105 -6.48 0.432 -5.792 c
-0.394 -5.545 -1.125 -5.212 -1.73 -4.793 c
-0.95 -3.487 -0.401 -1.887 0 0 c
-8.791 -2.796 -1.297 1.997 re
-7.494 -6.191 m
-7.062 -6.99 l
-8.215 -6.99 l
-8.215 -5.393 l
-6.918 -5.393 l
-6.918 -3.795 l
-6.818 -3.876 -6.733 -3.945 -6.63 -3.994 c
-6.551 -4.149 -6.452 -4.258 -6.341 -4.394 c
-6.221 -4.501 -6.115 -4.667 -6.054 -4.793 c
-5.629 -4.492 -5.354 -4.121 -5.188 -3.795 c
-5.023 -4.062 -4.905 -4.238 -4.756 -4.394 c
-4.742 -4.403 -4.666 -4.492 -4.612 -4.593 c
-5.277 -5.311 -6.241 -5.847 -7.494 -6.191 c
-2.594 -1.797 m
-2.64 -2.112 -2.829 -2.512 -3.171 -2.996 c
-3.171 -3.195 l
-3.574 -2.785 -3.863 -2.346 -4.035 -1.797 c
h
-2.45 -12.382 -2.018 2.396 re
-2.018 -7.589 m
-4.323 -7.589 l
-4.323 -7.39 l
-4.216 -7.377 -4.047 -7.261 -3.747 -7.189 c
-3.539 -6.91 -3.343 -6.744 -3.171 -6.591 c
-2.66 -7.065 -2.287 -7.358 -2.018 -7.39 c
h
f
Q
q 1 0 0 1 360.6162 672.2434 cm
0 0 m
1.297 0 l
1.619 -0.01 1.838 0.068 2.017 0.2 c
2.183 0.399 2.329 0.74 2.449 1.199 c
2.59 1.785 2.71 2.438 2.882 3.196 c
2.105 3.335 1.528 3.588 1.151 3.994 c
1.063 3.471 1.015 3.072 1.008 2.796 c
0.867 2.447 0.811 2.301 0.721 2.397 c
0.648 2.301 0.6 2.379 0.576 2.596 c
0.576 6.791 l
-3.892 6.791 l
-3.892 4.793 l
-3.827 2.623 -4.144 1.209 -4.757 0.6 c
-4.757 6.791 l
-9.512 6.791 l
-9.512 0.6 l
-9.533 -3.852 -9.766 -7.031 -10.232 -8.986 c
-9.639 -9.04 -9.104 -9.488 -8.647 -10.385 c
-8.253 -8.981 -8.014 -7.002 -7.926 -4.393 c
-6.484 -4.393 l
-6.484 -7.588 l
-6.521 -7.859 -6.62 -7.968 -6.773 -7.987 c
-7.036 -8.045 -7.388 -8.064 -7.926 -7.987 c
-7.641 -8.532 -7.45 -9.362 -7.35 -10.584 c
-6.881 -10.551 -6.444 -10.463 -6.054 -10.385 c
-5.551 -10.132 -5.262 -9.927 -5.189 -9.586 c
-4.988 -9.411 -4.875 -9.079 -4.757 -8.586 c
-4.516 -9.088 -4.242 -9.684 -3.892 -10.385 c
-2.793 -9.811 -1.863 -9.088 -1.152 -8.387 c
-0.302 -9.303 0.642 -10.083 1.729 -10.584 c
1.95 -9.889 2.352 -9.167 2.882 -8.387 c
1.859 -7.948 0.951 -7.284 0.144 -6.39 c
1.135 -5.013 1.754 -3.326 2.017 -1.397 c
1.44 -0.798 l
-3.315 -0.798 l
-2.709 0.029 -2.363 0.76 -2.307 1.398 c
-2.096 2.086 -2.032 3.081 -2.018 4.394 c
-1.152 4.394 l
-1.152 1.598 l
-1.14 0.604 -0.765 0.068 0 0 c
-6.629 -1.997 -1.153 1.997 re
-6.629 2.397 -1.153 1.997 re
-0.288 -3.195 m
-0.498 -3.725 -0.78 -4.271 -1.152 -4.792 c
-1.47 -4.398 -1.771 -3.852 -2.018 -3.195 c
h
-2.45 -6.39 m
-2.891 -6.904 -3.665 -7.392 -4.757 -7.788 c
-4.757 0.2 l
-4.284 0.087 -3.904 -0.253 -3.604 -0.798 c
-4.612 -0.798 l
-4.612 -3.195 l
-4.035 -3.195 l
-3.849 -3.433 -3.764 -3.647 -3.748 -3.794 c
-3.44 -4.661 -3.019 -5.539 -2.45 -6.39 c
f
Q
q 1 0 0 1 377.0284 679.2346 cm
0 0 m
-3.026 0 l
-3.026 -0.998 l
-4.18 -0.2 l
-4.744 -2.339 -5.597 -3.997 -6.629 -5.192 c
-6.629 -4.195 l
-6.342 -2.796 l
-6.118 -1.763 -5.955 -0.983 -5.909 -0.4 c
-7.782 0.199 l
-8.313 -2.993 -9.128 -5.606 -10.232 -7.589 c
-9.756 -8.58 -9.438 -9.545 -9.224 -10.386 c
-8.883 -9.877 -8.637 -9.4 -8.502 -8.987 c
-8.502 -17.574 l
-6.629 -17.574 l
-6.629 -5.792 l
-6.385 -6.181 -6.082 -6.776 -5.765 -7.789 c
-5.575 -7.468 -5.421 -7.293 -5.333 -7.189 c
-5.333 -9.386 l
-3.892 -9.386 l
-4.069 -12.257 -4.921 -14.314 -6.484 -15.577 c
-5.702 -16.079 -5.217 -16.722 -5.044 -17.375 c
-3.273 -15.894 -2.324 -13.192 -2.161 -9.386 c
-0.433 -9.386 l
-0.473 -11.066 -0.502 -12.314 -0.576 -13.18 c
-0.621 -13.914 -0.713 -14.401 -0.864 -14.579 c
-0.966 -14.792 -1.212 -14.89 -1.585 -14.979 c
-1.895 -14.86 -2.184 -14.84 -2.45 -14.778 c
-2.113 -15.523 -1.889 -16.42 -1.729 -17.574 c
-0.728 -17.513 0.012 -17.278 0.433 -16.776 c
0.87 -16.342 1.124 -15.523 1.153 -14.379 c
1.293 -13.163 1.335 -10.803 1.298 -7.189 c
2.017 -7.988 l
2.166 -7.049 2.439 -6.211 2.882 -5.392 c
1.229 -3.548 0.272 -1.715 0 0 c
-5.188 -6.989 m
-4.013 -5.47 -3.268 -3.987 -2.883 -2.396 c
-1.297 -2.396 l
-0.671 -4.193 0.075 -5.674 1.009 -6.989 c
h
f
Q
q 1 0 0 1 389.8389 679.2346 cm
0 0 m
-2.018 0.399 l
-2.138 -0.457 -2.263 -1.11 -2.305 -1.398 c
-6.485 -1.398 l
-6.485 -3.994 l
-3.025 -3.994 l
-3.988 -6.805 -5.241 -8.746 -6.773 -9.786 c
-6.12 -10.482 -5.69 -11.232 -5.476 -12.183 c
-4.923 -11.632 -4.27 -10.92 -3.458 -9.985 c
-3.458 -17.375 l
-1.584 -17.375 l
-1.584 -13.581 l
2.595 -13.581 l
2.595 -14.379 l
2.619 -14.567 2.592 -14.635 2.595 -14.579 c
2.472 -14.685 2.346 -14.704 2.162 -14.778 c
1.944 -14.771 1.558 -14.782 1.009 -14.778 c
1.401 -15.523 1.6 -16.44 1.586 -17.574 c
2.809 -17.513 3.605 -17.278 4.036 -16.776 c
4.387 -16.333 4.583 -15.942 4.612 -15.577 c
4.612 -4.792 l
-1.009 -4.792 l
-0.865 -3.994 l
6.053 -3.994 l
6.053 -1.398 l
-0.288 -1.398 l
-0.125 -0.74 -0.032 -0.263 0 0 c
2.595 -11.184 -4.181 0.798 re
-1.584 -7.189 4.179 -0.799 re
f
Q
q 1 0 0 1 409.9991 666.4528 cm
0 0 m
0.937 0.886 1.726 1.715 2.45 2.597 c
0.721 3.994 l
0.065 3.05 -0.386 2.504 -0.576 2.197 c
-0.794 2.739 -0.878 3.432 -0.865 4.394 c
-0.288 4.394 l
-0.288 3.994 l
1.441 3.994 l
1.441 12.782 l
-4.9 12.782 l
-4.9 -1.398 l
-6.196 -1.597 l
-5.765 -4.593 l
-1.297 -3.195 l
-1.297 -1.797 l
-0.653 -2.966 0.29 -3.99 1.585 -4.792 c
1.691 -3.892 2.071 -3.035 2.738 -2.197 c
1.499 -1.717 0.636 -0.957 0 0 c
-3.026 10.386 2.738 -0.799 re
-3.026 -0.998 m
-3.026 4.394 l
-2.738 4.394 l
-2.553 2.164 -2.25 0.467 -1.729 -0.799 c
h
-0.288 6.591 -2.739 0.799 re
f
Q
q 1 0 0 1 399.9112 679.2346 cm
0 0 m
0 -17.375 l
1.873 -17.375 l
1.873 -11.983 l
2.055 -12.374 2.222 -13.124 2.45 -14.179 c
4.143 -13.885 5.016 -12.617 5.045 -10.386 c
5.009 -8.989 4.594 -7.595 3.747 -6.191 c
5.187 -0.998 l
4.611 0 l
h
2.738 -10.983 m
2.602 -11.144 2.406 -11.232 2.162 -11.184 c
2.067 -11.223 1.961 -11.213 1.873 -11.184 c
1.873 -2.796 l
2.594 -2.796 l
2.594 -2.996 l
1.873 -6.39 l
2.651 -7.877 3.01 -9.125 3.026 -10.185 c
3.003 -10.521 2.926 -10.773 2.738 -10.983 c
f
Q
q 1 0 0 1 426.2676 675.0398 cm
0 0 m
-0.836 1.368 -1.335 2.762 -1.585 4.195 c
-3.459 3.596 l
-3.193 1.65 -2.644 -0.046 -1.874 -1.597 c
-0.955 -3.137 0.071 -4.318 1.298 -5.192 c
1.619 -4.201 2.07 -3.353 2.595 -2.595 c
1.619 -2.065 0.72 -1.178 0 0 c
f
Q
q 1 0 0 1 418.0528 670.0481 cm
0 0 m
0.139 0.313 0.272 0.489 0.289 0.6 c
1.892 2.859 2.932 5.209 3.458 7.589 c
1.586 8.388 l
1.153 7.189 l
0.299 4.566 -0.798 2.713 -2.161 1.597 c
-1.551 1.241 -1.016 0.539 -0.576 -0.399 c
-0.39 -0.389 -0.242 -0.213 0 0 c
f
Q
q 1 0 0 1 423.5293 668.0505 cm
0 0 m
0.481 -0.819 0.791 -1.473 1.009 -1.996 c
-0.371 -2.174 -1.448 -2.301 -2.307 -2.396 c
-2.067 -1.823 -1.961 -1.541 -1.874 -1.398 c
-0.865 1.797 l
-0.567 2.623 -0.342 3.442 -0.145 4.194 c
-0.434 4.32 -1.138 4.555 -2.307 4.993 c
-2.566 3.541 -2.819 2.438 -3.026 1.598 c
-4.035 -1.398 l
-4.323 -2.396 l
-5.621 -2.396 l
-5.95 -2.438 -6.219 -2.418 -6.485 -2.396 c
-6.429 -2.438 -6.408 -2.496 -6.341 -2.596 c
-6.346 -2.642 -6.324 -2.691 -6.341 -2.796 c
-5.477 -5.592 l
1.729 -4.193 l
1.923 -4.642 2.12 -5.314 2.306 -6.191 c
2.986 -5.52 3.661 -5.119 4.323 -4.992 c
3.683 -2.701 2.83 -0.731 1.873 0.798 c
h
f
Q
q 1 0 0 1 432.7364 679.2346 cm
0 0 m
0 -2.596 l
10.232 -2.596 l
10.232 -13.979 l
10.21 -14.411 9.59 -14.578 8.358 -14.579 c
8.774 -15.347 9.013 -16.342 9.08 -17.574 c
11.025 -17.356 12.031 -16.518 12.106 -14.979 c
12.106 0 l
h
f
Q
433.459 673.243 8.646 2.597 re
f
q 1 0 0 1 441.0948 672.2434 cm
0 0 m
-7.061 0 l
-7.061 -8.586 l
-4.899 -8.586 l
-4.899 -6.79 l
0 -6.79 l
h
-1.874 -4.194 -3.025 1.797 re
f
Q
q 1 0 0 1 413.0245 639.0095 cm
0 0 m
-0.51 -2.405 -1.948 -3.284 -3.693 -3.674 c
-3.711 -3.674 l
-3.492 -2.639 l
-2.695 -2.385 -1.819 -2.033 -1.372 -0.39 c
-3.015 -0.39 l
-2.408 2.464 l
0.524 2.464 l
h
f
Q
Q
BT
/T1_1 1 Tf
-0.025 Tw 10 0 0 10 80.9478 618.2515 Tm
(\(A)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 1.294 0 Td
(joint)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 2.259 0 Td
(sto)Tj
0 Tc 0 Tw (c)Tj
1.691 0 Td
(k)Tj
0.469 0 Td
( )Tj
0.025 Tc -0.025 Tw 0.3 0 Td
(limited)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 3.253 0 Td
(company)Tj
0 Tc 0 Tw ( )Tj
4.084 0 Td
(i)Tj
0.302 0 Td
(n)Tj
0.024 Tc -0.024 Tw 0.523 0 Td
(corp)Tj
0 Tc 0 Tw (o)Tj
2.452 0 Td
(r)Tj
0.413 0 Td
(a)Tj
0.024 Tc -0.024 Tw 0.523 0 Td
(te)Tj
0 Tc 0 Tw (d)Tj
1.293 0 Td
( )Tj
0.274 0 Td
(i)Tj
0.301 0 Td
(n)Tj
0.524 0 Td
( )Tj
0.025 Tc -0.025 Tw 0.306 0 Td
(the)Tj
0 Tc 0 Tw ( )Tj
1.595 0 Td
(P)Tj
0.557 0 Td
(e)Tj
0.025 Tc -0.025 Tw 0.469 0 Td
(opl)Tj
0 Tc 0 Tw (e)Tj
1.821 0 Td
(\222)Tj
0.319 0 Td
(s)Tj
0.413 0 Td
( )Tj
0.025 Tc -0.025 Tw 0.3 0 Td
(Republic)Tj
0 Tc 0 Tw ( )Tj
4.055 0 Td
(o)Tj
0.523 0 Td
(f)Tj
0.302 0 Td
( )Tj
0.025 Tc -0.025 Tw 0.302 0 Td
(China)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 2.87 0 Td
(with)Tj
0 Tc 0 Tw ( )Tj
2.123 0 Td
(l)Tj
0.025 Tc -0.025 Tw 0.302 0 Td
(imited)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 2.95 0 Td
(liabilit)Tj
0 Tc 0 Tw (y)Tj
3.335 0 Td
(\))Tj
/T1_2 1 Tf
-25.595 -1.366 Td
(\()Tj
0.025 Tc -0.025 Tw 0.357 0 Td
(Stock)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 2.815 0 Td
(code:)Tj
0 Tc 0 Tw ( )Tj
0.025 Tc -0.025 Tw 2.702 0 Td
(0576)Tj
0 Tc 0 Tw (\))Tj
ET
EMC 
BT
/T1_3 1 Tf
0.025 Tc 15 0 0 15 139.1199 564.6819 Tm
(2025 ANNUAL RESULTS ANNOUNCEMENT)Tj
ET
0 0 0 1 K
0.5 w 
/GS2 gs
q 1 0 0 1 56.6929 546.781 cm
0 0 m
482.39 0 l
S
Q
q 1 0 0 1 538.8326 541.1117 cm
0 0 m
0 5.419 l
S
Q
q 1 0 0 1 538.8326 381.1117 cm
0 0 m
0 160 l
S
Q
q 1 0 0 1 538.8326 372.8578 cm
0 0 m
0 8.254 l
S
Q
q 1 0 0 1 56.9429 541.1117 cm
0 0 m
0 5.419 l
S
Q
q 1 0 0 1 56.9429 381.1117 cm
0 0 m
0 160 l
S
Q
q 1 0 0 1 56.9429 372.8578 cm
0 0 m
0 8.254 l
S
Q
q 1 0 0 1 56.6929 372.6078 cm
0 0 m
482.39 0 l
S
Q
BT
/GS0 gs
/T1_0 1 Tf
0.078 Tc 0.07 Tw 13 0 0 13 65.4468 526.7627 Tm
[(\225)53 ( )-1407.5 (Revenue)12.8 ( was)12.8 ( Rmb)12.7 (1)12.8 (9)12.8 (,)12.8 (7)12.8 (5)12.8 (5)12.7 (.)12.8 (4)12.8 (9)12.8 ( million,)12.8 ( representing)12.7 ( an)12.8 ( increase)12.8 ( of)12.8 ( 9)12.8 (.)12.7 (4)12.8 (%)53 ( )]TJ
0.025 Tc -0.025 Tw 2.181 -1.231 Td
(year-on-year)Tj
0.064 Tc 0.07 Tw -2.181 -2.462 Td
[(\225)39 ( )-1421.5 (Profit)12.8 ( attributable)12.8 ( to)12.8 ( owners)12.9 ( of)12.9 ( the)12.8 ( Company)12.9 ( was)12.8 ( Rmb)12.9 (5)12.8 (,)12.8 (3)12.8 (2)12.9 (4)12.8 (.)12.8 (9)12.8 (6)12.9 ( million,)39 ( )]TJ
0.025 Tc 0 Tw 2.181 -1.231 Td
(representing a decrease of 3.2% year-on-year)Tj
0.026 Tc 0.082 Tw -2.181 -2.462 Td
[(\225)1 ( )-1447.5 (B)0.5 (a)0.5 (s)0.5 (i)0.5 (c)1.1 ( )0.5 (e)0.5 (a)0.5 (r)0.5 (n)0.5 (i)0.5 (n)0.5 (g)0.5 (s)1 ( )0.5 (p)0.5 (e)0.5 (r)1 ( )0.5 (s)0.5 (h)0.5 (a)0.6 (r)0.5 (e)1 ( )0.5 (w)0.5 (a)0.5 (s)1 ( )0.5 (R)0.5 (m)0.5 (b)1 (8)1 (8)1 (.)1 (6)1 (2)1 ( )0.5 (c)0.6 (e)0.5 (n)0.5 (t)0.5 (s)0.5 (,)1 ( )0.5 (a)0.5 (n)0.5 (d)1 ( )0.5 (d)0.5 (i)0.5 (l)0.5 (u)0.5 (t)0.5 (e)0.5 (d)1 ( )0.5 (e)0.5 (a)0.6 (r)0.5 (n)0.5 (i)0.5 (n)0.5 (gs)1.1 ( )0.5 (p)0.5 (e)0.5 (r)1 ( )0.5 (s)0.5 (h)0.5 (a)0.5 (r)0.5 (e)1 ( )]TJ
0.025 Tc 0 Tw 2.181 -1.231 Td
(was Rmb88.62 cents)Tj
-2.181 -2.462 Td
[(\225 )-1530.5 (A dividend of Rmb39.5 cents per share was recommended)]TJ
0.033 Tc 0.075 Tw -0.673 -3.008 Td
[(The)8 ( )0.6 (directors)8.1 ( )0.5 (\(the)8 ( )0.5 (\223)]TJ
/T1_3 1 Tf
-0.033 Tw (Directors)Tj
/T1_0 1 Tf
0.075 Tw [(\224\))8 ( )0.5 (of)8 ( )0.5 (Zhejiang)8 ( )0.5 (Expressway)8 ( )0.5 (Co.,)8 ( )0.5 (Ltd.)8 ( )0.5 (\(the)8 ( )0.5 (\223)]TJ
/T1_3 1 Tf
-0.033 Tw (Company)Tj
/T1_0 1 Tf
0.025 Tc -0.025 Tw [(\224)-8 (\) )]TJ
0.069 Tc 0.07 Tw 0 -1.231 Td
[(announce)12.1 ( the)12.1 ( audited)12.1 ( consolidated)12.1 ( results)12.1 ( of)12.1 ( the)12.1 ( Company)12.1 ( and)12.1 ( its)12.1 ( subsidiaries)44 ( )]TJ
0.025 Tc 0.019 Tw 0 -1.231 Td
(\(collectively the \223)Tj
/T1_3 1 Tf
-0.025 Tw (Group)Tj
/T1_0 1 Tf
0.019 Tw (\224\) for the year ended December 31, 2025 \(the \223)Tj
/T1_3 1 Tf
-0.025 Tw (Period)Tj
/T1_0 1 Tf
0.019 Tw (\224\), with )Tj
0 Tw 0 -1.231 Td
(the basis of preparation as stated in Note 1 set out below.)Tj
0.045 Tc 0.07 Tw 0 -2.462 Td
[(During)12.6 ( the)12.6 ( Period,)12.6 ( revenue)12.7 ( for)12.6 ( the)12.6 ( Group)12.7 ( was)12.6 ( Rmb)12.6 (1)12.7 (9)12.6 (,)12.6 (7)12.7 (5)12.6 (5)12.6 (.)12.7 (4)12.6 (9)12.6 ( million,)12.7 ( representing)20 ( )]TJ
0.039 Tc 0.082 Tw 0 -1.231 Td
[(a)-12.2 (n i)-12.3 (n)-12.2 (c)-12.3 (r)-12.2 (e)-12.3 (a)-12.2 (s)-12.2 (e o)-12.3 (f 9.4% o)-12.3 (v)-12.2 (e)-12.3 (r 2024.)]TJ
0 Tc 0 Tw ( )Tj
0.051 Tc 0.07 Tw 14.509 0 Td
[(Profit)12.3 ( attributable)12.3 ( to)12.2 ( owners)12.2 ( of)12.3 ( the)12.3 ( Company)12.2 ( was)26 ( )]TJ
0.039 Tc -14.509 -1.231 Td
[(Rmb)12.2 (5)12.3 (,)12.2 (3)12.3 (2)12.2 (4)12.2 (.)12.3 (9)12.2 (6)12.3 ( million,)12.2 ( representing)12.2 ( a)12.2 ( decrease)12.2 ( of)12.3 ( 3)12.3 (.)12.2 (2)12.2 (%)12.3 ( year-on-year.)12.3 ( Basic)12.3 ( earnings)14 ( )]TJ
0.042 Tc 0 -1.231 Td
[(per)12.5 ( share)12.5 ( for)12.5 ( the)12.4 ( Period)12.4 ( were)12.5 ( Rmb)12.5 (8)12.5 (8)12.4 (.)12.5 (6)12.5 (2)12.4 ( cents)12.5 ( \()12.5 (2)12.5 (0)12.5 (2)12.4 (4)12.5 (:)12.5 ( Rmb)12.4 (9)12.5 (1)12.5 (.)12.5 (7)12.4 (9)12.5 ( cents\),)12.5 ( and)12.5 ( diluted)17 ( )]TJ
0.025 Tc 0 Tw 0 -1.231 Td
(earnings per share were Rmb88.62 cents \(2024: Rmb90.50 cents\).)Tj
0.042 Tc 0.07 Tw 0 -2.462 Td
[(The)12.9 ( board)12.9 ( of)12.9 ( Directors)12.9 ( \(the)12.9 ( \223)]TJ
/T1_3 1 Tf
-0.042 Tw (Board)Tj
/T1_0 1 Tf
0.07 Tw [(\224\))12.9 ( of)12.9 ( the)13 ( Company)12.9 ( recommended)12.9 ( a)12.9 ( dividend)12.8 ( of)17 ( )]TJ
0.025 Tc 0.017 Tw 0 -1.231 Td
(Rmb39.5 cents per share \(2024: dividend of Rmb38.5 cents per share\). T\he dividend is )Tj
0 -1.231 Td
(subject to shareholders\222 approval at the Company\222s 2025 annual sha\reholders\222 meeting )Tj
0 Tw 0 -1.231 Td
(\(the \223)Tj
/T1_3 1 Tf
-0.025 Tw (ASM)Tj
/T1_0 1 Tf
(\224\).)Tj
ET

endstreamendobj109 0 obj<</Metadata 114 0 R>>endobj114 0 obj<</Length 35862/Subtype/XML/Type/Metadata>>stream
<?xpacket begin="锘? id="W5M0MpCehiHzreSzNTczkc9d"?>
<x:xmpmeta xmlns:x="adobe:ns:meta/" x:xmptk="Adobe XMP Core 9.1-c002 79.a6a6396, 2024/03/12-07:48:23        ">
   <rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#">
      <rdf:Description rdf:about=""
            xmlns:dc="http://purl.org/dc/elements/1.1/"
            xmlns:xmp="http://ns.adobe.com/xap/1.0/"
            xmlns:xmpMM="http://ns.adobe.com/xap/1.0/mm/"
            xmlns:stRef="http://ns.adobe.com/xap/1.0/sType/ResourceRef#"
            xmlns:stEvt="http://ns.adobe.com/xap/1.0/sType/ResourceEvent#"
            xmlns:illustrator="http://ns.adobe.com/illustrator/1.0/"
            xmlns:xmpTPg="http://ns.adobe.com/xap/1.0/t/pg/"
            xmlns:stDim="http://ns.adobe.com/xap/1.0/sType/Dimensions#"
            xmlns:stFnt="http://ns.adobe.com/xap/1.0/sType/Font#"
            xmlns:xmpG="http://ns.adobe.com/xap/1.0/g/"
            xmlns:pdf="http://ns.adobe.com/pdf/1.3/">
         <dc:format>application/pdf</dc:format>
         <dc:title>
            <rdf:Alt>
               <rdf:li xml:lang="x-default">E_00576_4c</rdf:li>
            </rdf:Alt>
         </dc:title>
         <xmp:CreatorTool>Adobe Illustrator 25.0 (Windows)</xmp:CreatorTool>
         <xmp:CreateDate>2024-01-15T14:54:13+09:00</xmp:CreateDate>
         <xmp:ModifyDate>2024-01-15T14:54:13+08:00</xmp:ModifyDate>
         <xmp:MetadataDate>2024-01-15T14:54:13+08:00</xmp:MetadataDate>
         <xmpMM:DocumentID>xmp.did:ef7d82c0-dde1-de4f-9f5d-042e46f8c5f8</xmpMM:DocumentID>
         <xmpMM:InstanceID>uuid:2a254b43-249c-49f1-ad57-f876a6cbab33</xmpMM:InstanceID>
         <xmpMM:OriginalDocumentID>uuid:67F1F8F326CFE011BA47F9F83F5171AA</xmpMM:OriginalDocumentID>
         <xmpMM:RenditionClass>proof:pdf</xmpMM:RenditionClass>
         <xmpMM:DerivedFrom rdf:parseType="Resource">
            <stRef:instanceID>uuid:37caae51-39e9-8a40-817c-bfcec54d2794</stRef:instanceID>
            <stRef:documentID>uuid:67F1F8F326CFE011BA47F9F83F5171AA</stRef:documentID>
            <stRef:originalDocumentID>uuid:67F1F8F326CFE011BA47F9F83F5171AA</stRef:originalDocumentID>
         </xmpMM:DerivedFrom>
         <xmpMM:History>
            <rdf:Seq>
               <rdf:li rdf:parseType="Resource">
                  <stEvt:action>saved</stEvt:action>
                  <stEvt:instanceID>xmp.iid:ef7d82c0-dde1-de4f-9f5d-042e46f8c5f8</stEvt:instanceID>
                  <stEvt:when>2024-01-15T14:54:11+08:00</stEvt:when>
                  <stEvt:softwareAgent>Adobe Illustrator 25.0 (Windows)</stEvt:softwareAgent>
                  <stEvt:changed>/</stEvt:changed>
               </rdf:li>
            </rdf:Seq>
         </xmpMM:History>
         <illustrator:Type>Document</illustrator:Type>
         <illustrator:StartupProfile>Print</illustrator:StartupProfile>
         <illustrator:CreatorSubTool>AIRobin</illustrator:CreatorSubTool>
         <xmpTPg:NPages>1</xmpTPg:NPages>
         <xmpTPg:HasVisibleTransparency>False</xmpTPg:HasVisibleTransparency>
         <xmpTPg:HasVisibleOverprint>True</xmpTPg:HasVisibleOverprint>
         <xmpTPg:MaxPageSize rdf:parseType="Resource">
            <stDim:w>209.999998</stDim:w>
            <stDim:h>297.000005</stDim:h>
            <stDim:unit>Millimeters</stDim:unit>
         </xmpTPg:MaxPageSize>
         <xmpTPg:Fonts>
            <rdf:Bag>
               <rdf:li rdf:parseType="Resource">
                  <stFnt:fontName>TimesLTStd-Bold</stFnt:fontName>
                  <stFnt:fontFamily>Times LT Std</stFnt:fontFamily>
                  <stFnt:fontFace>Bold</stFnt:fontFace>
                  <stFnt:fontType>Open Type</stFnt:fontType>
                  <stFnt:versionString>Version 2.050;PS 002.000;hotconv 1.0.51;makeotf.lib2.0.18671</stFnt:versionString>
                  <stFnt:composite>False</stFnt:composite>
                  <stFnt:fontFileName>TimesLTStd-Bold.otf</stFnt:fontFileName>
               </rdf:li>
               <rdf:li rdf:parseType="Resource">
                  <stFnt:fontName>TimesLTStd-Italic</stFnt:fontName>
                  <stFnt:fontFamily>Times LT Std</stFnt:fontFamily>
                  <stFnt:fontFace>Italic</stFnt:fontFace>
                  <stFnt:fontType>Open Type</stFnt:fontType>
                  <stFnt:versionString>Version 2.050;PS 002.000;hotconv 1.0.51;makeotf.lib2.0.18671</stFnt:versionString>
                  <stFnt:composite>False</stFnt:composite>
                  <stFnt:fontFileName>TimesLTStd-Italic.otf</stFnt:fontFileName>
               </rdf:li>
            </rdf:Bag>
         </xmpTPg:Fonts>
         <xmpTPg:PlateNames>
            <rdf:Seq>
               <rdf:li>Black</rdf:li>
               <rdf:li>PANTONE 336 CVC</rdf:li>
            </rdf:Seq>
         </xmpTPg:PlateNames>
         <xmpTPg:SwatchGroups>
            <rdf:Seq>
               <rdf:li rdf:parseType="Resource">
                  <xmpG:groupName>闋愯ō鑹茬エ缇ょ祫</xmpG:groupName>
                  <xmpG:groupType>0</xmpG:groupType>
                  <xmpG:Colorants>
                     <rdf:Seq>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>White</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>Black</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>100.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>CMYK Red</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>CMYK Yellow</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>CMYK Green</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>100.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>CMYK Cyan</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>100.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>CMYK Blue</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>100.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>CMYK Magenta</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=15 M=100 Y=90 K=10</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>15.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>90.000000</xmpG:yellow>
                           <xmpG:black>10.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=0 M=90 Y=85 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>90.000000</xmpG:magenta>
                           <xmpG:yellow>85.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=0 M=80 Y=95 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>80.000000</xmpG:magenta>
                           <xmpG:yellow>95.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=0 M=50 Y=100 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>50.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=0 M=35 Y=85 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>35.000000</xmpG:magenta>
                           <xmpG:yellow>85.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=5 M=0 Y=90 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>5.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>90.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=20 M=0 Y=100 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>20.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=50 M=0 Y=100 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>50.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=75 M=0 Y=100 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>75.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=85 M=10 Y=100 K=10</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>85.000000</xmpG:cyan>
                           <xmpG:magenta>10.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>10.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=90 M=30 Y=95 K=30</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>90.000000</xmpG:cyan>
                           <xmpG:magenta>30.000000</xmpG:magenta>
                           <xmpG:yellow>95.000000</xmpG:yellow>
                           <xmpG:black>30.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=75 M=0 Y=75 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>75.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>75.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=80 M=10 Y=45 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>80.000000</xmpG:cyan>
                           <xmpG:magenta>10.000000</xmpG:magenta>
                           <xmpG:yellow>45.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=70 M=15 Y=0 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>70.000000</xmpG:cyan>
                           <xmpG:magenta>15.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=85 M=50 Y=0 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>85.000000</xmpG:cyan>
                           <xmpG:magenta>50.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=100 M=95 Y=5 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>100.000000</xmpG:cyan>
                           <xmpG:magenta>95.000000</xmpG:magenta>
                           <xmpG:yellow>5.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=100 M=100 Y=25 K=25</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>100.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>25.000000</xmpG:yellow>
                           <xmpG:black>25.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=75 M=100 Y=0 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>75.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=50 M=100 Y=0 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>50.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>0.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=35 M=100 Y=35 K=10</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>35.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>35.000000</xmpG:yellow>
                           <xmpG:black>10.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=10 M=100 Y=50 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>10.000000</xmpG:cyan>
                           <xmpG:magenta>100.000000</xmpG:magenta>
                           <xmpG:yellow>50.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=0 M=95 Y=20 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>95.000000</xmpG:magenta>
                           <xmpG:yellow>20.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=25 M=25 Y=40 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>25.000000</xmpG:cyan>
                           <xmpG:magenta>25.000000</xmpG:magenta>
                           <xmpG:yellow>40.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=40 M=45 Y=50 K=5</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>40.000000</xmpG:cyan>
                           <xmpG:magenta>45.000000</xmpG:magenta>
                           <xmpG:yellow>50.000000</xmpG:yellow>
                           <xmpG:black>5.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=50 M=50 Y=60 K=25</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>50.000000</xmpG:cyan>
                           <xmpG:magenta>50.000000</xmpG:magenta>
                           <xmpG:yellow>60.000000</xmpG:yellow>
                           <xmpG:black>25.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=55 M=60 Y=65 K=40</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>55.000000</xmpG:cyan>
                           <xmpG:magenta>60.000000</xmpG:magenta>
                           <xmpG:yellow>65.000000</xmpG:yellow>
                           <xmpG:black>40.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=25 M=40 Y=65 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>25.000000</xmpG:cyan>
                           <xmpG:magenta>40.000000</xmpG:magenta>
                           <xmpG:yellow>65.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=30 M=50 Y=75 K=10</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>30.000000</xmpG:cyan>
                           <xmpG:magenta>50.000000</xmpG:magenta>
                           <xmpG:yellow>75.000000</xmpG:yellow>
                           <xmpG:black>10.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=35 M=60 Y=80 K=25</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>35.000000</xmpG:cyan>
                           <xmpG:magenta>60.000000</xmpG:magenta>
                           <xmpG:yellow>80.000000</xmpG:yellow>
                           <xmpG:black>25.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=40 M=65 Y=90 K=35</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>40.000000</xmpG:cyan>
                           <xmpG:magenta>65.000000</xmpG:magenta>
                           <xmpG:yellow>90.000000</xmpG:yellow>
                           <xmpG:black>35.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=40 M=70 Y=100 K=50</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>40.000000</xmpG:cyan>
                           <xmpG:magenta>70.000000</xmpG:magenta>
                           <xmpG:yellow>100.000000</xmpG:yellow>
                           <xmpG:black>50.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=50 M=70 Y=80 K=70</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>50.000000</xmpG:cyan>
                           <xmpG:magenta>70.000000</xmpG:magenta>
                           <xmpG:yellow>80.000000</xmpG:yellow>
                           <xmpG:black>70.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>PANTONE 336 CVC</xmpG:swatchName>
                           <xmpG:type>SPOT</xmpG:type>
                           <xmpG:tint>100.000000</xmpG:tint>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:cyan>100.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>65.098000</xmpG:yellow>
                           <xmpG:black>47.058800</xmpG:black>
                        </rdf:li>
                     </rdf:Seq>
                  </xmpG:Colorants>
               </rdf:li>
               <rdf:li rdf:parseType="Resource">
                  <xmpG:groupName>鍒楀嵃鑹插僵缇ょ祫</xmpG:groupName>
                  <xmpG:groupType>1</xmpG:groupType>
                  <xmpG:Colorants>
                     <rdf:Seq>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=0 M=30 Y=70 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>0.000000</xmpG:cyan>
                           <xmpG:magenta>30.000000</xmpG:magenta>
                           <xmpG:yellow>70.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=5 M=70 Y=90 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>5.000000</xmpG:cyan>
                           <xmpG:magenta>70.000000</xmpG:magenta>
                           <xmpG:yellow>90.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=5 M=90 Y=75 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>5.000000</xmpG:cyan>
                           <xmpG:magenta>90.000000</xmpG:magenta>
                           <xmpG:yellow>75.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=30 M=0 Y=95 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>30.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>95.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=60 M=5 Y=95 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>60.000000</xmpG:cyan>
                           <xmpG:magenta>5.000000</xmpG:magenta>
                           <xmpG:yellow>95.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=30 M=0 Y=10 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>30.000000</xmpG:cyan>
                           <xmpG:magenta>0.000000</xmpG:magenta>
                           <xmpG:yellow>10.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=60 M=10 Y=5 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>60.000000</xmpG:cyan>
                           <xmpG:magenta>10.000000</xmpG:magenta>
                           <xmpG:yellow>5.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>C=80 M=5 Y=10 K=0</xmpG:swatchName>
                           <xmpG:mode>CMYK</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:cyan>80.000000</xmpG:cyan>
                           <xmpG:magenta>5.000000</xmpG:magenta>
                           <xmpG:yellow>10.000000</xmpG:yellow>
                           <xmpG:black>0.000000</xmpG:black>
                        </rdf:li>
                     </rdf:Seq>
                  </xmpG:Colorants>
               </rdf:li>
               <rdf:li rdf:parseType="Resource">
                  <xmpG:groupName>鐏伴殠</xmpG:groupName>
                  <xmpG:groupType>1</xmpG:groupType>
                  <xmpG:Colorants>
                     <rdf:Seq>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=100</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>255</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=90</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>229</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=80</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>203</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=70</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>178</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=60</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>152</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=50</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>127</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=40</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>101</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=30</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>76</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=20</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>50</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=10</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>25</xmpG:gray>
                        </rdf:li>
                        <rdf:li rdf:parseType="Resource">
                           <xmpG:swatchName>K=5</xmpG:swatchName>
                           <xmpG:mode>GRAY</xmpG:mode>
                           <xmpG:type>PROCESS</xmpG:type>
                           <xmpG:gray>12</xmpG:gray>
                        </rdf:li>
                     </rdf:Seq>
                  </xmpG:Colorants>
               </rdf:li>
            </rdf:Seq>
         </xmpTPg:SwatchGroups>
         <pdf:Producer>Adobe PDF library 15.00</pdf:Producer>
      </rdf:Description>
   </rdf:RDF>
</x:xmpmeta>
<?xpacket end="r"?>
endstreamendobj107 0 obj<</BaseFont/GUBBFB+TimesLTStd-Italic/Encoding/WinAnsiEncoding/FirstChar 32/FontDescriptor 115 0 R/LastChar 146/Subtype/Type1/Type/Font/Widths[250 0 0 0 0 0 0 0 333 333 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 611 0 667 0 0 0 0 0 0 0 0 0 0 0 0 611 0 611 0 0 0 0 0 0 0 0 0 0 0 0 0 0 500 500 444 500 444 278 0 500 278 278 444 278 722 500 500 500 0 389 389 278 500 0 667 0 444 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 333]>>endobj108 0 obj<</BaseFont/GUBBFB+TimesLTStd-Bold/Encoding/WinAnsiEncoding/FirstChar 32/FontDescriptor 116 0 R/LastChar 116/Subtype/Type1/Type/Font/Widths[250 0 0 0 0 0 0 0 333 333 0 0 0 0 0 0 500 0 0 0 0 500 500 500 0 0 333 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 556 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 444 556 444 0 0 0 0 0 556 0 0 0 500 0 0 0 0 333]>>endobj116 0 obj<</Ascent 935/CapHeight 662/CharSet(/space/parenleft/parenright/zero/five/six/seven/colon/S/c/d/e/k/o/t)/Descent -218/Flags 34/FontBBox[-168 -218 1012 935]/FontFamily(YDTFN C+ Times LT Std)/FontFile3 117 0 R/FontName/GUBBFB+TimesLTStd-Bold/FontStretch/Normal/FontWeight 700/ItalicAngle 0/StemV 140/Type/FontDescriptor/XHeight 461>>endobj117 0 obj<</Filter/FlateDecode/Length 1563/Subtype/Type1C>>stream
H塴SPe掊竇T:慶u福萃?B麬CT蠪E翕<埤?@"?%(=# KPb壊4Q友5薴蔟_婚g歩v尜飣迃瀥辭?夃 ?蒊棫ゥ?[)37莂奍砙L'隝9"X
e0m钕R藦帡3&|E姑 緼
筯窘4瓀?摀灅崆&?9.€0?'P槠桥朋驦鰃>rV塤d+皨%v谚L秉<媴XK?H俋?Qy衬y噃4	V８伔驒f涊QQ"痼嘪EPdV<E聊沵糲嚼/復夊姵土m&>醪翨s 
^审_u :屖郛貓|q﹉朙囐n據6ぐ嫾YIoQ靘 ^h}6#霰魷\懤泟B 晣Cbb?俋Dd剚 D榬鉐旹飹4箮<E
	海ZｒO杺遱跛氟I玕羠兿0贎?bp64匋瀌繽?眩T~砆??】茵	S|繏茾瓊弢嫏\喗篸C%N`=舸廣C單鬨dR@?9€)泰0B絷.亍+ak`嚃琈蔭5_l噚垈x內,诓ぞ?)*?抽<藺}徵鶽熎?莙峉 P嚒2YM韎鑴]鍂A.忶V徥瑜巶V峗S隗羽鯤?蹒瑧'+硉蓩J蚻f鰰t?{鰃栿傍沥蹎O螓笇睽5唄里金f9閬櫪昞靃类I+N芢\:嗖疉F7€軡竞㈩y夗丩fF弉cR\橸K+?仌嚉輓鲺-睚魈?湨礚雎僤嫾N%o?1	訸豫秪讆=P?闡撙4R54 Uua樕秭尥[]T愊羪^A岷甗酟V;鵷濁	/?肹讷睸?`狄晰鶭?镄,仅<f[0*k嶋	槗虧蹱>k9.e瑾毵b(佢}窚场 礸{戕治^驧=d瀬~r螑箙描/遮/遷栉瀦岧椐霾?U玟萅俻S蓂@2%褾[叠5鄘沗击o?wluf$眐AN温?C褫gG銛YK魃caa{xL匘啻h+逦鏊/<爴Gp僁焭眜
.△Kf?}淘$LS>腉?^汩霾媔m?-!lw堃Xu潻)4瑱鍌塁穠]l粟闛=撕 淪Af€}Л腽N濒顿陑苖	箛3噑齔儈F?8h?郁H桥郥滙思贿嵱
\韗?萯'譫#兣n荎搴谕?[X尷袋桰t?瘑SW?*`%╩7进j(z_鸐冤wT顃骤灣7T)黻v憾谓難W@膻蝸径綉瀩ol?ⅸ陻S龘D+r
鍮T銤疦0档Oοr偱鑹8
獊儴FDNB.
id敃撄鱷)醕 UN薩??や灖塑佇_髜~磿wㄋj6Ylzak譤??|I籷与?崠n＋v砺沧@r吚铈袹秛~扭?B囚n淃T#7D€忶S€
e
endstreamendobj115 0 obj<</Ascent 883/CapHeight 662/CharSet(/space/parenleft/parenright/A/C/P/R/a/b/c/d/e/f/h/i/j/k/l/m/n/o/p/r/s/t/u/w/y/quoteright)/Descent -217/Flags 98/FontBBox[-169 -217 1010 883]/FontFamily(GUUBV M+ Times LT Std)/FontFile3 118 0 R/FontName/GUBBFB+TimesLTStd-Italic/FontStretch/Normal/FontWeight 400/ItalicAngle -16/StemV 76/Type/FontDescriptor/XHeight 441>>endobj118 0 obj<</Filter/FlateDecode/Length 3515/Subtype/Type1C>>stream
H塴T	Pg
z@eG佑?*rx盇+B埐,80?0337*壤r圓N莰H@疿蠆?f5善Zw]RO曐冑葳猅W浸?鼷撅}E構&夋o?pe凓Uポ?W噋u笺p	/駍]枨籧轁?趧R6鞀蟒3貱$焮`NQH?=嘦'&q審苪q肨魒D铹??NE嵩综蹢佗阅-?!i6]?8曇嬞拻翷AkV盰幫)蓪Z?嶶(U
鰪?佡甆觩9?&H@
&玆2?咾R1慯醊糖r?覕L玾$$ㄣUS洨F畜振*朣w?蓹琙玊莝jM汌?鄆奣寨ㄐ皩ZP/獼营T;逇吠k虶巇-%`楬?7'l!??竺癅q寐?9嗧?Z0罛1;嶟C9璼q揸<?v鶕鄼b盭-w蚿=铴u{5m么k覹O餁裎?預顑Pk鎋嬂eoy
?C-鉨臓蒬嶋镌6#!箸I
92	#丫鲆 隟gX薿#/w絀醭窃F匶A敧﹦]>-<窹拽?}涁~(垖啓讹nR班$感D,8wah貚貤還＿?洂7颛Bmh檫袴€徖攡垸贔聄
.餥豂翜t俰t?讯湣驱I杞h钗柏=nū??炍C炄揋(坬掊?夲'-81釓?嫪萂;飚{*螳嶳鯂??嶤焊团梭ly|FqT	瓏R浑为釩wV螅髳f颀V@^&>冴p	屾?弸n€嬻k哤? 殝腋?AR攦俀奃1?躟橛?'d箛駱栲.E3"羂X鯫0C,:€(M轨m+@oм盍椌"茐1X鷝6y趞虙@茮8M熫歰珉羓w崻褩鱎?[z"qs隺)腬三1+邀e?*脟;珊蔶{淂[?歰?(絜~#Zo擂`4L	蠱c鼦v2瞈邨哏謞拌wP}`K0踱菱#V%UP攄1衕鎑X析HPf被F咒?櫔礥袟@u3伺?煋M5痲掰H貏??夅l?^襧褃4~蚧鍲堘曕D祁毡柒隁餋E澨T]a&嫢0穵;,蒅鱅褆鞞艘*|_蕡灚# y$+封?s&G遐2N鼢縲暈渜€|覅?簬udG疿丷J覔汧m嘲繁I缪?J监缌Ur?攬迚瓩鳴xwN#ShO??f幨+bM-槾?畽c)#迖-鄘w鱌跋vd赯{
耑?W?^D蔒粖?O莥Y嫧?癘溼誒d|bLiX昀貜??5涽藃gP\C^{{kSG;
-G葱艋h?鳅臅泶$D>南n{跕爪"6 胠?藸-朇砎燨V蓤>笹F+t淣Zh琲懊o(3W酓 7赏n巩喏hbz虺Z裰SO?温/#瓕j	y$#矄/5傆W訊I%Ge詹燉\假O-馂m'恾VA沫姻冑YF3rGq
h棑q闔?VsUsU嫭圂m?<|@滻9"z鮁
h仰頜/n?DKP|瞇Eh僮蝳<C>鸐n你H*-0罩?RG歹y碪渉旦,詾闟鵠R榲	謥芘A$&>w偪懼,1叾L蔖澽葜攒墁B粣z峏R4槢臩甾`W熜L知髝S*﨎澳)^尤h?E'5k阣Dr薈8蠫]逽撻y鞪…?u樛F(M飠?/狏?1(h4O槱餳?p谁ｙ[绹ヶ\q*澨犚氤籵鬫;\懊0萩鰒?y溄??,埳漲ii懇鼎d錫賥p逺.專掖Q
k蚘2M*嫛rl眱椢\3o"[s{挼\vRR[n{徑珁蜀?N踾i?汋X侅?沒$赎阭-T嫯A桺扵瞷`嫌+鱝?鷂鼩_貆魆鲛2甲Re圣尸6媴?s?柪璇?1溩e褶vHf婷?x渀?埲sYM]a?D銛c絎镎滼-uTu\h)闫耭HI ?![IYBX0瑐R腣媂櫋礦訴霃N情除墲遱蠞铨蟳消}醝9賂>妬C騴跥踯:舂逃薛暒?;螮3/
}掴兮Tg3氺lUK抲硿x部}5耝遉鱐{建t鎏?麤[C撄槅R笟!N息鋃Kォ凇72頳畿E?WD尪.5埳趄ち徧撷y[/詙?骠廇*鑊<咠$埶L慠鵭沈诏??!老q廰W覵?n娵鵇褛B?橊焞??`f9=愖u抅幑7C斞Ge橕餑'$l?s苎帣ZcВ 晏 谀泛閵*?骰籪藶€D郿］z愠R$擣》2 洱; 鸈顽鼯 芲€递噏nma潦祶?邂?/竳躟炴傌夘社#TC?
蜬﨟}橪嚽}撴)盱.粐c
?,儚叵鴋幠=h遯
p鮾燥?驡瓺卬罗E減a蛤寗姳,9爼x仜{,喧畣k7
B棘,S雞苄r焴佞硼jJw:傾s/鵐:吕弊珑姺.q3衦&グ8#剴玤f湺潮綾际?5柎P貖赓苂F|渪{旭毿t=Yih鵧糔緙笊Tl軆隽鯑∞.pZ耬缸,O燣葳鲍YVQ郺? ?攈簦0彝謡¤T^X蝞缴d0Q2叒8 烋CC竼耶羵v肬臡扌銢峁怔`俷笉l銴詑€繲Y^c烷挾S痆駘?G;峎h?諀鶯?x2剛
Kr?B夗礩q ?絭惿踩硚矡嬡5
祠顈k袼e忦p趡%篾綖敆谣淏uQI)灔'F^H瓮Uu櫤TＳh菺湥◢(旾冧ぐ瓲q禚 ~DyUDJVB)K獚璣g繟鳒X囵敓囕€Y?N<肅ac癢蔡Ta5V62忈嵯壿嵯喰だ鳍┸s瑼媜妝v鉼勭嚝p隫x?h訕屆?妼j恮縷邊腃诶
A捊9?t车跽$嵡G儤?7I旄K瑲fw峘鍿u靨~0q??L岏渜忈d癸:?賚??覥彌;箊M2漋a鎲l勉喚 ?G|?'桸(I C眇E4鐹亪袟i+姩bui墯Ag裮<3
[}
軜髥/P雼)U惉脅?蔺鲾m67K假?`苸c佛礥:+u儽鳎dFLDV}))O%XN^洂珂`PW?緥崌^輶著LA7]$C>BT?Z鼓l?x<徥9(+宒x9鯆沵螳8衝X晎*,婝,H\/k剐Z?篆鑌9缗繣?姿踟
endstreamendobj106 0 obj<</AIS false/BM/Normal/CA 1.0/OP true/OPM 1/SA false/SMask/None/Type/ExtGState/ca 1.0/op true>>endobj105 0 obj[/Separation/PANTONE#20336#20CVC/DeviceCMYK<</C0[0.0 0.0 0.0 0.0]/C1[1.0 0.0 0.65098 0.470588]/Domain[0 1]/FunctionType 2/N 1.0/Range[0.0 1.0 0.0 1.0 0.0 1.0 0.0 1.0]>>]endobj119 0 obj<</CreationDate(D:20260331221906+08'00')/Creator(Adobe InDesign 19.5 \(Windows\))/ModDate(D:20260331221908+08'00')/Producer(Adobe PDF Library 17.0)/Trapped/False>>endobjxref
0 120
0000000000 65535 f
0000000016 00000 n
0000000124 00000 n
0000002680 00000 n
0000000000 00000 f
0000271241 00000 n
0000272432 00000 n
0000273520 00000 n
0000274610 00000 n
0000275700 00000 n
0000242681 00000 n
0000243880 00000 n
0000245080 00000 n
0000246280 00000 n
0000002775 00000 n
0000002864 00000 n
0000002958 00000 n
0000003052 00000 n
0000003146 00000 n
0000003240 00000 n
0000003334 00000 n
0000247480 00000 n
0000210029 00000 n
0000211228 00000 n
0000212427 00000 n
0000213614 00000 n
0000214813 00000 n
0000178727 00000 n
0000179926 00000 n
0000181125 00000 n
0000182324 00000 n
0000183523 00000 n
0000145196 00000 n
0000146395 00000 n
0000147582 00000 n
0000148781 00000 n
0000149980 00000 n
0000104079 00000 n
0000105278 00000 n
0000106368 00000 n
0000107470 00000 n
0000108560 00000 n
0000003464 00000 n
0000004554 00000 n
0000005644 00000 n
0000006734 00000 n
0000007824 00000 n
0000008926 00000 n
0000010016 00000 n
0000011106 00000 n
0000012196 00000 n
0000013286 00000 n
0000099015 00000 n
0000033801 00000 n
0000016606 00000 n
0000017182 00000 n
0000094045 00000 n
0000085239 00000 n
0000077605 00000 n
0000061723 00000 n
0000070587 00000 n
0000056884 00000 n
0000047718 00000 n
0000038687 00000 n
0000033912 00000 n
0000014376 00000 n
0000024800 00000 n
0000025387 00000 n
0000017723 00000 n
0000018247 00000 n
0000026033 00000 n
0000070705 00000 n
0000070730 00000 n
0000070863 00000 n
0000070928 00000 n
0000071201 00000 n
0000071351 00000 n
0000138825 00000 n
0000145083 00000 n
0000144946 00000 n
0000131058 00000 n
0000123081 00000 n
0000117513 00000 n
0000109650 00000 n
0000173668 00000 n
0000170125 00000 n
0000160573 00000 n
0000155705 00000 n
0000151179 00000 n
0000204300 00000 n
0000199721 00000 n
0000194473 00000 n
0000190200 00000 n
0000184722 00000 n
0000233714 00000 n
0000229491 00000 n
0000224701 00000 n
0000221050 00000 n
0000216012 00000 n
0000267726 00000 n
0000263081 00000 n
0000259206 00000 n
0000254280 00000 n
0000248680 00000 n
0000293883 00000 n
0000369053 00000 n
0000368940 00000 n
0000362156 00000 n
0000362606 00000 n
0000326175 00000 n
0000288149 00000 n
0000283068 00000 n
0000280131 00000 n
0000276790 00000 n
0000326214 00000 n
0000364965 00000 n
0000362966 00000 n
0000363315 00000 n
0000365338 00000 n
0000369240 00000 n
trailer
<</Size 120/Root 1 0 R/Info 119 0 R/ID[<0982E0407E0D5149B855C055F851F882><AC15F3DBC5E2FE4A8B7F9AF6B7A577BB>]>>
startxref
369421
%%EOF