中国资源交通二零二六年年报

（於開曼群島註冊成立之有限公司） ANNUAL REPORT2026年報 Contents 24632466468CONSOLIDATED STATEMENT OFFINANCIAL POSITION70CONSOLIDATED STATEMENT OFCHANGES IN EQUITY72CONSOLIDATED STATEMENT OFCASH FLOWS73NOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTS75SUMMARY OF FINANCIAL INFORMATION184 CORPORATE INFORMATION STATEMENT OF CHAIRMAN MANAGEMENT DISCUSSION AND ANALYSIS DIRECTORS’REPORT CORPORATE GOVERNANCE REPORT INDEPENDENT AUDITOR’S REPORT CONSOLIDATED STATEMENT OF PROFIT ORLOSS AND OTHER COMPREHENSIVE INCOME Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS Mr. Lu Zhiming(Co-Chairman)Mr. Gao Zhiping(Co-Chairman & Chief Executive Officer)Mr. Jiang TaoMr. Duan JingquanMr. Wang Gang INDEPENDENT NON-EXECUTIVE DIRECTORS 202510 15 Mr. Jing BaoliMr. Bao Liang Ming (resigned on 15 October 2025)Mr. Xue BaozhongMs. Huang Chunlian AUDIT COMMITTEE 202510 15 Ms. Huang Chunlian(Chairlady)Mr. Jing BaoliMr. Bao Liang Ming (resigned on 15 October 2025)Mr. Xue Baozhong REMUNERATION COMMITTEE 202510 15 Mr. Jing Baoli(Chairman)Mr. Bao Liang Ming (resigned on 15 October 2025)Mr. Xue BaozhongMs. Huang ChunlianMr. Gao Zhiping NOMINATION COMMITTEE 202510 15 Mr. Gao Zhiping(Chairman)Mr. Jing BaoliMr. Bao Liang Ming (resigned on 15 October 2025)Mr. Xue BaozhongMs. Huang Chunlian Corporate Information COMPANY SECRETARY Ms. Ngan Wai, Sharon AUDITOR McMillan Woods (Hong Kong) CPA Limited LEGAL ADVISOR NGANS LAWYERS LLP PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedThe Bank of East Asia Limited REGISTERED OFFICE JTC (Cayman) LimitedP.O. Box 3074560 Nexus Way,6th Floor, Camana Bay,Grand Cayman KY1-1203Cayman Islands JTC (Cayman) LimitedP.O. Box 3074560 Nexus Way,6th Floor, Camana Bay,Grand Cayman KY1-1203Cayman Islands PRINCIPAL PLACE OF BUSINESS 14522 22/F, On Hong Commercial Building145 Hennessy RoadWan ChaiHong Kong SHARE REGISTRARS & TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE AT HONG KONG STOCKEXCHANGE 269 269 http://www.crtg.com.hk COMPANY WEBSITE http://www.crtg.com.hk Statement of Chairman To the shareholders of the Company (the“Shareholders”): On behalf of the board of directors (the“Board”) of China Resourcesand Transportation Group Limited (the“Company”), we are delightedto present the 2026 Annual Report and the audited consolidatedfinancial statements of the Company and its subsidiaries (collectively,the“Group”) for the year ended 31 March 2026. 20263 312026 Industry Review: 2025668.65873.5%3.2% Duringthe past financial year,China’s transportation industryexperienceda profound transformation from“scale expansion”to“smart operations and value creation.”According to data from theMinistry of Transport, the total volume of cross-regional passengertraffic for the full year of 2025 reached 66.86 billion person-trips,andthe volume of commercial freight reached 58.7 billion tons,representingyear-on-year growth of 3.5%and 3.2%respectively,indicatinga continuous recovery in economic activity.It is worthnoting that the status of heavy-haul freight and energy transportationcorridorswithin the national energy security strategy has furtherincreased. 20259+ InSeptember 2025,seven ministries and commissions jointlyissuedthe Implementation Opinions on“Artificial IntelligenceinTransportation”,which explicitly promotes the digitalizationofinfrastructure and the intelligentization of toll collection andmaintenancesystems.Against this backdrop,the reform of tollcollection systems and the marketization of expressway maintenancehave emerged as key policy priorities. Whileelevated compliance and maintenance standards haveintroduced short-term cost pressures, they have also substantiallyimprovedthe valuation framework for high-quality expresswayassets, thereby generating long-term value revaluation opportunitiesfor entities holding concession rights. Concurrently, the global economy has registered moderate growthamid a low-interest-rate environment, further reinforcing institutionaland investor demand for expressway assets characterized by stablecashflows and pronounced defensive attributes.The sustainedincrease in traffic volume – notably that of heavy-duty trucks – hasendowed toll revenues with enhanced resilience and visibility. 265 The heavy-haul expressway of Inner Mongolia Zhunxing Heavy HaulExpresswayCompany Limited(“Zhunxing”),which is operatedby the Group, is progressing steadily. Meanwhile, benefiting froma package of policies by the Chinese government to expand coalsupply,stabilize coal prices,and optimize coal transportationcoordination, the 265 km heavy-haul toll expressway operated by“Zhunxing”(the“Zhunxing Expressway”) continued to demonstrateits core strategic value as a major energy transportation artery inNorth China during the year under review. Statement of Chairman Looking ahead to the new financial year, the following trends willdirectly affect its development environment and opportunities: 1. 1.F