招

商

公

路

年可

持 Paving the Way with Commitment

续 Forging Ahead with the Times发展报告

2025

可持续发展报告

Sustainability Report

Huafeng Plaza Building No. 1 Yard No. 9 Beitucheng East Road Chaoyang District Beijing

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2 0 2 5 CMET Sustainability Report 2025报告导读 ABOUT THIS REPORT

本报告是招商局公路网络科技控股股份有限公司（简称“招商公路”“公司”“我们”）对外发布的第 4 份年度可持续 This Report marks the fourth annual sustainability/ESG (environmental social and governance) report released by China Merchants Expressway

发展 /ESG 报告，上一份报告已于 2025 年 4 月 3 日发布。本着客观、规范、透明和全面的原则，本报告详细披露了招商 Network & Technology Holdings Co. Ltd. (hereinafter referred to as "CMET" "the Company" or "we") with the previous report released onApril 3 2025. Upholding the principles of objectivity standardization transparency and comprehensiveness this Report provides a detailed

局公路网络科技控股股份有限公司 2025 年度在经济、环境、社会及公司治理等责任领域的实践和绩效，旨在与各利益相 disclosure of the Company's practices and performance across economic environmental social and governance responsibilities for the year关方进行有效交流，系统地回应利益相关方的期望和要求。 2025 aiming to foster effective communication with various stakeholders and systematically address their expectations and requirements.招商公路建立了标准化的可持续发展信息内部报告机制，由可持续发展工作小组通过专项汇报会、定期汇报等方式，向 CMET has established a standardized internal reporting mechanism for sustainability information. The Sustainability Working Group reports relevantwork progress to the Strategy and Sustainability Committee through various means such as dedicated briefing sessions and regular reporting.战略与可持续发展委员会汇报相关工作进展，经评估审议与规范性审批程序后向董事会报批，经董事会最终审议后对外 Following evaluation deliberation and standardized review and approval procedures these matters are submitted to the Board of Directors (hereinafter发布。本报告已经过董事会审议，董事会对此报告内容进行保证，不存在虚假记载、误导性陈述或重大遗漏。 referred to as "the Board") for final deliberation and approval before external disclosure. The Board has reviewed this Report assured the content ofthis Report and confirmed that there are no false representations misleading statements or material omissions contained herein.报告范围 Reporting Scope

本报告覆盖招商局公路网络科技控股股份有限公司及其所属公司（与合并财务报表范围一致），着重汇报 2025 年度 This Report covers CMET and its subsidiaries (consistent with the scope of the consolidated financial statements) with focus on the disclosureESG 绩效及重要性议题管理情况。 of ESG performance and the management of material topics for the fiscal year 2025.Reporting Period时间范围

Unless otherwise stated this Report covers the period from January 1 2025 to December 31 2025 hereinafter referred to as "the Reporting

如无特殊说明，本报告期限为 2025 年 1 月 1 日至 2025 年 12 月 31 日，以下简称“报告期”或“本年度”。为保证连续 Period" or "the Year under Review". To ensure continuity and comparability certain sections of this Report include both retrospective and性及可比性，本报告中部分内容向前追溯、向后延伸，报告相应部分已作说明。 prospective content as noted in the relevant sections.Reporting Cycle

发布周期 This Report is an annual report published on a regular basis each year.本报告为年度报告，每年定期发布。

Reporting Standards

编制依据 This Report has been prepared in accordance with the Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange—

Sustainability Report (For Trial Implementation) (hereinafter referred to as "SZSE Guideline No. 17") and the Self-Regulatory Guidance No. 3

本报告依据《深圳证券交易所上市公司自律监管指引第 17 号——可持续发展报告（试行）》《深圳证券交易所上市公司 for Companies Listed on Shenzhen Stock Exchange—Preparation of Sustainability Report (hereinafter referred to as "SZSE Guidance No. 3")自律监管指南第 3 号——可持续发展报告编制》汇报编制，同时参考： released by the Shenzhen Stock Exchange (SZSE) with reference also made to:● 国务院国资委《关于国有企业更好履行社会责任的指导意见》 Guiding Opinions on Better Performing Social Responsibilities of State-owned Enterprise issued by the State-owned Assets Supervision and

国务院国资委《关于新时代中央企业高标准履行社会责任的指导意见》 Administration Commission of the State Council (SASAC)●

Guiding Opinions on Fulfilling Social Responsibilities According to High Standards by Central Enterprises in the New Era issued by SASAC

● 财政部等九部门《企业可持续披露准则——基本准则（试行）》 Corporate Sustainability Disclosure Standards—Basic Standards (Trial) issued by the Ministry of Finance and eight other national departments

● 国家质检总局、国家标准化管理委员会 （GB/T36001-2015）《社会责任报告编写指南》 Guidance on Social Responsibility Reporting (GB/T 36001-2015) issued by General Administration of Quality Supervision Inspection and

● 全球可持续发展标准委员会《GRI 可持续发展报告标准》（GRI Standards 2021） Quarantine of the People's Republic of China (AQSIQ) and Standardization Administration of the People's Republic of China (SAC)

联合国《2030 年可持续发展目标》（SDGs） GRI Sustainability Reporting Standards (GRI Standards 2021) issued by the Global Sustainability Standards Board (GSSB)●

The 2030 Agenda for Sustainable Development (SDGs) issued by the United Nations (UN)

● 联合国全球契约组织（UNGC）十项原则 The Ten Principles of the United Nations Global Compact (UNGC)

● IFRS S2《气候相关信息披露》 IFRS S2 Climate-related Disclosures

● 国际标准化组织（ISO）《ISO 26000：社会责任指南（2010）》 Guidance on Social Responsibility (ISO 26000:2010) issued by International Organization for Standardization (ISO)v

数据说明 Data Source

本报告中所引用数据及信息来自公司及其所属公司实际运行的原始数据及统计资料，并经过公司相关部门审核确认，其 The data and information disclosed in this Report are derived from the original operational data and statistical records of the Company and中无特别说明情况下，财务数据以人民币为单位。财务资料与《招商局公路网络科技控股股份有限公司 2025 年年度报告》 its subsidiaries and have been reviewed and confirmed by the relevant departments of the Company. Unless otherwise specified financialdata are presented in Renminbi (RMB). In the event of any discrepancies between the financial information herein and the CMET Annual

存在出入时，以《招商局公路网络科技控股股份有限公司 2025 年年度报告》为准。为保证信息及数据准确性，本报告内 Report 2025 the latter shall prevail. To ensure the accuracy of the information and data the content and data of this Report have been容及数据已经经过第三方鉴证。 subject to third-party verification.报告编制原则 Reporting Principles

本报告在重要性议题信息披露时，关注公司所处行业和经营业务的特点，识别出各利益相关方 In disclosing information on material topics this Report focuses on the characteristics of the Company's重要性 Materiality industry and business activities identifying material topics related to operations of concern to various

关注的与经营相关的重要性议题，作为本报告汇报重点。 stakeholders as reporting priorities.This Report strives to ensure information accuracy to the greatest extent possible. For quantitative information

本报告尽可能保证信息准确，其中，定量信息测算说明数据口径、计算方式、假定条件，以保准确性 the measurement descriptions specify the data scope calculation methods and assumptions ensuring the Accuracy

证计算误差范围不会对信息使用者造成误导性影响；定性信息及附注信息已明确说明。 margin of error in calculations free from misleading information users. Meanwhile qualitative information andnotes are clearly explained.平衡性 本报告反映客观、真实的情况，对公司正面、负面的信息均予以全面、公正披露，不存在偏颇。 This Report presents objective and truthful information providing comprehensive and impartial disclosure of Balance both positive and negative aspects of the Company's performance without any bias.本报告以简体中文、英文版本发布，充分使用表格、逻辑图等方式作为文字辅助，并提供关键 This Report is published in Simplified Chinese and English versions. It makes full use of tables logic diagrams清晰性 Clarity and other visual aids to supplement the text and provides key performance highlights and index of indicators

绩效表与指标索引表，便于利益相关方更好理解报告内容、更快获得信息。 to facilitate stakeholders' better understanding of the report content and faster access to information.量化性 本报告披露关键定量数据，并提供历史数据。 Quantitativeness This Report discloses key quantitative data and provides historical data for comparison.本报告尽量保持同一定量披露项在不同报告期内的统计方法与数据口径一致；当存在数据口径 This Report strives to maintain consistency in statistical methods and data scope for the same quantitative

可比性 变动时，在相应位置提供解释说明，必要时追溯调整历史数据，以便利益相关方评估公司相关 disclosure items across different reporting periods. When changes in data scope occur explanations are Comparability provided in the corresponding sections and historical data are retrospectively adjusted if necessary to enable数据水平发展趋势。 stakeholders to assess the development trends of the Company's relevant data.完整性 本报告披露范围与公司合并财务报表保持一致，能够反映公司合并财务报表内整体业务活动。 The scope of disclosure in this Report is consistent with the Company's consolidated financial statements Completeness reflecting the overall business activities within the Company's consolidated financial statements.报告获取 Report Access

本报告以简体中文、英文版本发布，当英文版本存在歧义时，以简体中文版本为准。 This Report is published in both Simplified Chinese and English. In case of any discrepancies between the English version and the SimplifiedChinese version the Simplified Chinese version shall prevail.本报告可通过招商公路官网、深圳证券交易所网站查询下载。

The Report can be viewed and downloaded from the CMET official website and the SZSE website.目录

CONTENTS 招商公路鄂东大桥CMET Edong Bridge

08董事会致辞20议题重要性评估32专题136展望2026

Message from the Board Topic Materiality Assessment Special Feature Outlook for 2026

走进招商公路可持续发展治理数智驱动发展，智慧赋能未来1228Digital Intelligence Driving Development 138 附录

About CMET Sustainability Governance Smart Innovation Empowering Future Appendix通达天下向新而行和谐共荣利泽四海发展高质量01交通更智慧02生态可持续03成果惠社会04

CONNECTING THE WORLD ADVANCING WITH INNOVATION THRIVING IN HARMONY BENEFITING ONE AND ALL

PURSUING HIGH-QUALITY BUILDING SMARTER ENSURING ECOLOGICAL SHARING PROSPERITY WITH

DEVELOPMENT TRANSPORTATION SUSTAINABILITY SOCIETY

38党建引领58智慧公路建设78环境合规管理118员工保障

Party Leadership Smart Expressway Development Environmental Compliance Management Employee Protection

40公司治理66公路品质与运营安全86资源使用128伙伴共赢

Corporate Governance Expressway Quality and Operational Safety Resource Utilization Win-Win Partnership

45商业道德74数据安全与客户隐私保护88应对气候变化130和谐社区

Business Ethics Data Security and Customer Privacy Protection Climate Change Response Harmonious Community

51风险管理与内部控制112生态环境保护

Risk Management and Internal Control Ecological and Environmental Protection招商公路 董事会致辞 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Message from the Board Sustainability Report 2025董事会致辞

MESSAGE FROM THE BOARD

2025 年是“十四五”规划收官之年，亦是“十五五” The year 2025 marks both the successful conclusion of 大道如虹，我们以实干编织交通脉络。我们秉持“致 Beneath the rainbow arch of the great way we规划谋篇布局之年，新一轮科技革命与绿色低碳浪 the 14th Five-Year Plan and a pivotal period of strategic 广大而尽精微”的理念，在时代发展坐标中精准定 weave the fabric of transportation with steadfast潮交织激荡，招商公路根植主营主业，为交通强国 planning for the 15th Five-Year Plan. Against a dynamic 位前行方向。回望“十四五”发展历程，我们深耕 endeavor. Upholding the philosophy of "embracing建设注入硬核动能。我们以“天堑变通途”为文化 backdrop shaped by a new wave of sci-tech revolution 主业、做优做强，路网布局覆盖全国 22 个省、自治区、 the vast while attending to the minute" we preciselyand the global push for green and low-carbon develop- navigate our way within the coordinates of our time.使命，助力实现“人享其行、物畅其流”；我们锚直辖市，投资经营总里程达14212公里，主控里程ment CMET remains firmly grounded in the core opera- Reflecting on our journey through the 14th Five-Year

定“中国领先的公路及相关基础设施投资运营企业” tions and injects robust momentum into the construc- 2143 公里，实现资产规模和管理效能全面提升、 Plan period we deepened focus on core businesses愿景，坚守“安全至上、服务为本、绿色铸底”的 tion of a country with strong transportation networks. 量质并举，核心经营指标位居行业前列。我们持续 striving for excellence and robust growth. Our road net-发展原则，推动安全、绿色、人文理念深度融入运 Guided by our cultural mission to "transforming barriers 夯实投资平台建设，深化基础设施资产市场化运作 work covered 22 provinces autonomous regions and营全链条，在服务发展大局的实践中彰显央企担当， into pathways" we actively serve the construction of a 招商公路 REIT 自 2024 年 11 月成功在深交所挂牌 municipalities directly under the Central Government奋力谱写中国式现代化交通场景下高质量发展篇章。 modern transportation system with "enjoyable travel for 上市以来，依托优质底层资产与专业运营管理能力， with a total investment and operation mileage of 14212passengers and smooth transport of goods". Anchored 已完成 3 次分红，2025 年全年涨幅达 14.76%。这 kilometers and a controlled mileage of 2143 kilome-to the vision of becoming "China's leading investor and 一实践不仅为公路行业构建“募投管退”良性发展 ters achieving a comprehensive upgrade in both asset

operator in expressways and related infrastructure" we scale and management efficiency. With simultaneous

生态提供了可复制、可推广的“招商方案”，为行adhere to the "safety-prioritized service-oriented and quantitative and qualitative improvements CMET's core

green-based" development principles deeply integrat- 业高质量发展注入资本与机制双重活力，更成为国 operating metrics rank among the top in the industry.ing safety sustainability and humanity throughout our 家基础设施资产管理与商业模式创新的重要参考。 Meanwhile we have continuously strengthened our in-entire operational chain. In doing so we demonstrate vestment platform and deepened the market-oriented

the commitment of a central enterprise in serving over- operation of infrastructure assets. Since its successful

all development strategies and strive to author a new listing on the SZSE in November 2024 leveraging the

chapter of high-quality development within the land- high-quality underlying assets and professional op-

scape of Chinese modernization. eration and management expertise CMET REIT has

completed three dividend distributions and achieved

a price appreciation of 14.76% in 2025. This not only

provides a replicable and scalable "China Merchants

Group (hereinafter referred to as "CMG" or "the Group")

solution" for fostering a virtuous "investment financing

management and exit" ecosystem within the express-

way industry injecting dual vitality of capital and mech-

anism into high-quality development but also serves as

a significant reference for national innovation in infra-

structure asset management and business models.

0809招商公路董事会致辞2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Message from the Board Sustainability Report 2025

创新为擎，我们以智慧铺就未来之路。我们坚持守 Powered by innovation we pave the road ahead with 责任在心，我们以温暖护航每段旅程。我们坚守为 Guided by responsibility we accompany every traveler with正创新、谋定转型，立志成为公路行业数字化转型 wisdom and foresight. Committed to preserving core 民之心，推动公司高质量、可持续发展，助力公众 heartfelt care. Upholding a people-centered mission we drivevalues while embracing change and strategically steering the Company's high-quality and sustainable development

与智能化升级的先行者与引领者。2025 年，我们 transformation we aim to be a pioneer and leader in the 出行从“走得了”向“走得好”“走得舒心”跨越。 helping public travel evolve from "basic connectivity" to推动数字技术与基础设施深度融合，让传统产业焕 digital transformation and smart upgrade of the expressway 2025 年，在顺利完成各项保通保畅核心任务的基 "quality travel" and "enjoyable journey". In 2025 building uponindustry. In 2025 we fostered a deep integration of digital the successful completion of our core tasks related to ensuring

发全新生机：招商交科构建起“6 个国家级 +15 个 technology with infrastructure revitalizing traditional 础上，我们持续升级“微笑与山水同美”服务运营 smooth and safe traffic we continuously upgraded our省部级”重点研发平台矩阵，全力打造交通科技与 industries. China Merchants Communications Technology 品牌，倾力打造客户满意、放心、温暖的交通服务 Shining Beauty of Smiles and Nature service operation brand产业创新融合发展的标杆；京津塘高速成为国内首 (Chongqing) Limited (CMCT) established a matrix of key R&D 窗口。牵头开展“情暖征途”公益活动，覆盖全国 striving to create transportation service windows that deliversplatforms comprising six national level and 15 provincial and satisfaction reliability and heartfelt care to the customers. We条跨省市干线物流自动驾驶开放测试道路；“通港 ministerial level platforms striving to become a benchmark for 27 个省份，致敬货运先锋公益活动惠及司乘人员 also led the Warm Journey public welfare initiative covering 27达园”项目成功入选交通运输部“首批交通物流降 the integrated development of transportation technology and 73896 人次；深耕 C Green 公益项目，累计惠及师 provinces nationwide and our activities paying tribute to truckindustrial innovation. The Beijing-Tianjin-Tanggu Expressway drivers benefited 73896 drivers and passengers. We deepened本提质增效典型案例”；调度、养护、收费“三朵云” was designated as the first open test road for cross-provincial 生近 18.7 万人次，构建起“重点品牌引领、特色 the C Green public welfare project benefiting nearly 200000平台，搭配自主研发的“招商开云视频大模型”， trunk line logistics autonomous driving in China. The Tonggang 项目补充”的公益发展格局，以实际行动增进社会 teachers and students cumulatively and established a public突破行业传统运营模式，路网运行效能实现质的提 Dayuan project was successfully selected in the "first batch of 福祉，诠释央企温度与担当。温度内化于心，评价 welfare development pattern "driven by flagship brands andtypical cases of transportation logistics cost reduction quality supported by signature projects". Through concrete actions升。 improvement and efficiency enhancement" by the Ministry of 外显于行。2025 年，招商公路 ESG 建设再上新台阶： we enhance social welfare and interpret the compassion andTransport. Our Three Cloud Platform of dispatch maintenance 标普全球可持续发展绩效评估得分从 35 分跃升至 responsibility of a central enterprise. This warmth internalizes

and toll collection coupled with our independently developed 53 分，国证 ESG 评级连续两年保持 AA 级，Wind our corporate culture while external evaluations attest to ourCMET Kaiyun Video Large Model transcended traditional performance. In 2025 CMET's ESG efforts reached new heights:

operational models achieving a qualitative leap in network ESG 评级从 AA 级上升至 AAA 级，位列行业第一， our S&P Global ESG score leaped from 35 to 53 our CNI ESGoperational efficiency. 成为可持续发展的行业典范。 rating maintained AA for two consecutive years and our WindESG rating rose from AA to AAA ranking first in the industry

becoming an industry model for sustainable development.青山作伴，我们以匠心绘就生态画卷。我们秉持“招 Alongside lucid rivers and lush mountains we paint an 骐骥驰骋，山海同程；新程启幕，未来可期。面向 Like a galloping steed racing across vast mountains and商公路，不止于路”的理念，深挖路衍经济价值， ecological landscape with dedication. Adhering to the 新的发展阶段，交通强国建设之路正铺展新的希望。 seas we leap into a new journey of great promise. Facingphilosophy that "CMET is more than just roads" we deeply the next development phase the path to building a country

推动“交能融合”发展，倾力打造公路行业绿色发 explore the value of road-derived economy promote the 在集团“第三次创业”的引领下，我们将以更高站 with strong transportation network unfolds with renewed展的新范式、新标杆。2025 年，我们聚焦零碳服务区、 integration of transportation and energy and strive to forge 位服务发展大局，以更实举措推动主业升级，以更 hope. Guided by CMG's Third Entrepreneurship initiativenew paradigms and benchmarks for green development in the we will serve overall development strategies from a higher

路域新能源建设，取得一系列突破：甬台温高速零 expressway sector. 2025 witnessed a series of breakthroughs 强担当履行社会责任，以更宽视野培育智慧交通、 vantage point drive core business upgrades with more碳服务区示范项目，成功入选国务院国资委《中央 in our focus on zero-carbon service areas and new energy 绿色交通等新兴动能，坚定不移向“中国领先的公 concrete measures fulfill our social responsibilities with企业绿色可持续发展优秀实践案例集（2025）》； construction along expressways. The zero-carbon service 路及相关基础设施投资运营企业”的愿景迈进，以 stronger commitment and cultivate emerging drivers likearea demonstration project on the Ningbo-Taizhou-Wenzhou smart and green transportation with a broader vision. We will

推广应用非全厚式加铺等“四新”技术开展绿色养 Expressway was successfully included in the SASAC's Collection 实干与创新书写企业可持续发展的新篇章！ unswervingly advance towards our vision of becoming "China's护；建成西南地区首座“氢油气电”一体化综合能 of Outstanding Green and Sustainability Practices of Central leading investor and operator in expressways and related

Enterprises (2025). We promoted green maintenance through infrastructure" writing a new chapter of corporate sustainable源站，以久久为功的转型初心，守护绿水青山的生 the application of four new technologies including non-full- development through dedicated action and continuous态底色。 depth overlay and successfully completed the first "hydrogen innovation.oil gas and electricity" comprehensive energy station in

Southwest China demonstrating our enduring commitment to

transformation and solid actions to safeguard the ecological

foundation.

1011招商公路走进招商公路2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. About CMET Sustainability Report 2025走进招商公路

ABOUT CMET公司简介

COMPANY PROFILE

招商公路于2016年8月经国家工商总局批准设立，2017年12月25日吸收合并华北高截至2025年12月底速在深圳证券交易所成功实现整体上市（证券代码：SZ001965）。上市以来，公司股票 As of the end of December 2025先后入选沪深 300、深证成指、深证 100、MSCI 等指数样本股，成为具有较大影响力的招商公路投资经营的总里程达行业龙头企业。14212公里，覆盖全国22个省、自治区In August 2016 CMET was established upon the approval of the State Administration for Industry and Commerce. On 和直辖市；运营管理收费公路37条，里程达3058公里；主控路产27December 25 2017 CMET merged with Huabei Expressway Co. Ltd. and was successfully listed on SZSE (stock code:

SZ001965). Since its listing CMET has been included as a sample stock of the CSI 300 index SZSE Component Index

SZSE 100 Index and MSCI China Index establishing itself as an influential industry leader. 条，控股里程达2143公里，分布于15个省、自治区和直辖市。公司参招商公路深耕公路投资与公路运营，业务经营范围包括公路交通基础设施投资运营、交通 股31家优质收费公路公司，其中16家为 A 股、H 股公路上市公司。

科技、智能交通及交通生态等，覆盖公路全产业链重要环节，是中国投资经营里程最长、覆盖区域最广、产业链最完整的综合性公路投资运营服务商。

CMET's total expressway investment and operation mileage reached 14212 kilometers spanning

Deeply engaged in expressway investment and operations CMET boasts extensive industry expertise with business 22 provinces autonomous regions and municipalities directly under the Central Government

scope encompassing investment and operation of expressway transportation infrastructure transportation across China. The Company operates and manages 37 toll expressways with a total mileage of

technology intelligent transportation and transportation ecology covering key stages throughout the entire 3058 kilometers. Among these it has controlling interests in 27 expressway assets with controlling

expressway industry chain. The Company is China's comprehensive expressway investment and operation service mileage of 2143 kilometers distributed across 15 provinces autonomous regions and municipalities

provider with the longest operational mileage the most extensive regional coverage and the most complete directly under the Central Government. The Company has invested in 31 high-quality toll expressway

industrial chain. companies including 16 A-share and H-share listed companies.招商公路阳平高速

CMET Yangshuo-Pingle Expressway

1213招商公路走进招商公路2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. About CMET Sustainability Report 2025分公司

及控股子公司 招商局交通科技 ( 重庆 ) 有限公司 China Merchants Communications Technology (Chongqing) Limited

招商局公路网络科技控股股份有限公司京津塘高速分公司 China Merchants Expressway Network Technology Holding Co. Ltd. Beijing-Tianjin-Tanggu Expressway Branch

BRANCHES

AND 西藏招商交建电子信息有限公司 China Merchants Xizang Construction Electronic Information Co. Ltd.CONTROLLED 招商新智科技有限公司 China Merchants New Intelligence Technology Co. Ltd.SUBSIDIARIES

招商局交通信息技术有限公司 China Merchants Communication Information Technology Co. Ltd.国高网路宇信息技术有限公司 Guogao Network Luyu Information Technology Co Ltd.招商局公路科技（北京）有限公司 China Merchants Expressway Technology (Beijing) Co. Ltd.招 湖北鄂东长江公路大桥有限公司 Hubei Edong Yangtze River Highway Bridge Co. Ltd.商

局 重庆沪渝高速公路有限公司 Chongqing Shanghai-Chongqing Expressway Co. Ltd.公

路 重庆渝黔高速公路有限公司 Chongqing Yuqian Expressway Co. Ltd.网 诚坤国际（江西）九瑞高速公路发展有限公司 Chengkun International (Jiangxi) Jiurui Expressway Development Co Ltd.络

科 广西华通高速公路有限责任公司 Guangxi Huatong Expressway Co. Ltd.技

控 广西桂兴高速公路投资建设有限公司 Guangxi Guixing Expressway Investment and Construction Co. Ltd.股

股 广西桂梧高速公路桂阳段投资建设有限公司 Guangxi Guiwu Expressway Guiyang Section Investment and Construction Co. Ltd.份

有 桂林港建高速公路有限公司 Guilin Port Construction Expressway Co. Ltd.限 浙江温州甬台温高速公路有限公司 Zhejiang Wenzhou Yongtaiwen Expressway Co. Ltd.公

司 廊坊交发高速公路发展有限公司 Langfang Communications and Development Expressway Development Co. Ltd.招商华建商业管理（北京）有限公司 China Merchants Huajian Commercial Management (Beijing) Co. Ltd.招商公路运营管理（北京）有限公司 China Merchants Expressway Operation Management (Beijing) Co. Ltd.招商公路投资管理（天津）有限公司 China Merchants Expressway Investment Management (Tianjin) Co. Ltd.招商公路京津塘工程建设管理（天津）有限公司 Beijing-Tianjin-Tanggu Engineering Construction Management (Tianjin) Co Ltd.天津华正高速公路开发有限公司 Tianjin Huazheng Expressway Development Co. Ltd.招商中铁控股有限公司 China Merchants & China Railway Holdings Co. Ltd. (CMCR)

华祺投资有限责任公司 Huaqi Investment Co. Ltd.

1415

China Merchants Expressway Network &

Technology Holdings Co. Ltd.招商公路 走进招商公路 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. About CMET Sustainability Report 2025招商公路亳阜高速

CMET Bozhou-Fuyang Expressway

企业文化 1 企业使命 Corporate mission 行为公约 Code of conduct

CORPORATE 天堑变通途 在岗在位在状态，尽职尽责勇担当 正知正行遵商道，自重自律风节高Transforming barriers into pathways

1 Stay present and engaged at post fulfill duties with Honor the way of business with righteous knowledge CULTURE courage and commitment and conduct uphold self-discipline and integrity

企业愿景 专能专精求进取，善作善成勇超越 同心同德同舟济，奋进奋发图自强Corporate visionStrive for specialization and mastery pursue excellence Remain united in heart and mind share weal and woe

中国领先的公路及相关基础设施投资运营企业 and dare to transcend forge ahead with determination and self-empowerment

China's leading investor and operator in expressways and related

infrastructure 群策群力谋发展，创新创业创辉煌Pool collective wisdom and strength for development

drive innovation and entrepreneurship to achieve

核心价值观 greatnessCore values

改革创新自强不息※注释：1.详情请参照招商公路官网企业文化板块《招商公路企业文化手册》

Reform innovation and continuous self-improvement ※ Note:

1.For more details please refer to the CMET Corporate Culture Manual in the Corporate Culture section of the CMET official website.

1617招商公路走进招商公路2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. About CMET Sustainability Report 2025荣誉奖项

HONORS

第八届中国卓越 IR 最佳价值创造奖、 第十六届天马奖 : 中国上市公司投资者关系 “第六届全景投资者关系金奖”“杰出 IR 公 入选 2025 上市公司董事会办公室 入选易董 ESG 评选 :最佳 ESG 奖、最佳信披奖 管理天马奖 司”“杰出 IR 董事长”“杰出中小投资者关切 “2025 上市公司现金分红榜单” 最佳实践 上市公司最佳 ESG 实践奖奖”“杰出 ESG 价值传播奖”“杰出市值管理奖”

The 8th China IR Annual Awards: Best Value The 16th Tianma Awards: Investor Relations The 6th Panorama Investor Relations Golden Selected for the 2025 Listed Companies Cash 2025 Best Practice for Board Offices of Listed Selected for the Yidong ESG Rating: Best ESG

Creation Award Best ESG Award Best Management Award for China's Listed Awards: Outstanding IR Company Outstanding Dividend Ranking Companies Practice Award for Listed Companies

Information Disclosure Award Companies IR Chairman Outstanding Award for Minority

Investor Care Outstanding Award for ESG Value

Communication and Outstanding Award for

Market Capitalization Management

上市公司投资者关系管理 第二十一届新财富金牌董秘评选最佳上市公司、 第二十届中国上市公司董事会“金圆桌奖”暨第 中国品牌优秀 2025 年上市公司可持续发展 C Green“公益助教计划”获“CSR 影响力奖 |最佳实践 ESG 最佳实践奖 六届中国上市公司“董秘好助手”奖 : 董事会价 典型案例 优秀实践案例 责任贡献”“青年影响力优秀项目”“最佳责任值创造奖企业品牌”奖；甬台温高速、桂林公司、重庆公

司荣获“最佳责任企业品牌”称号

Best Practice for Investor Relations Manage- The 21st New Fortune Best Board Secretaries Awards: The 20th China Listed Companies "Golden

ment of Listed Companies Best Listed Companies Award and ESG Best Practice Roundtable Awards" and the 6th China Listed Chinese Brand Outstanding Exemplary Case 2025 Best Sustainability Practices C Green Public Welfare Teaching Support Program was

Award Companies "Best Board Secretary Assistant Award Case for Listed Companies honored with the CSR Impact Award for Responsibility

Awards": Board Value Creation Award Contribution the Outstanding Youth Impact Project Award and the Best Responsible Corporate Responsibility Brand

Award. Additionally Ningbo-Taizhou-Wenzhou Expressway

Guilin subsidiary and Chongqing subsidiary were recognized

with the Best Responsible Corporate Brand title

2025 上市公司董事会最佳 入选“第 19 届主板上市公司价值百强” 2025 年上市公司水晶球奖评选：“上市公司信 2025 年交通企业 ESG 报告评级 金蜜蜂 2025 优秀企业可持续发展报告环境责任实践案例榜单息披露水晶球奖”“上市公司股东回报水晶球和典型案例信息披露奖奖”“上市公司 ESG 水晶球奖”

2025 Best Practice Case for Listed Company Selected for the 19th Top 100 Value List of 2025 Crystal Globe Awards for Listed 2025 ESG Report Rating for Transport Sector Golden Bee 2025 Outstanding Corporate

Boards Chinese Mainboard Listed Companies Companies: Crystal Globe Award for Enterprises Sustainability Report Award for Environmental

Information Disclosure Crystal Globe Award Responsibility Information Disclosure Award

for Shareholder Returns Crystal Globe Award

for ESG

1819招商公路议题重要性评估2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Topic Materiality Assessment Sustainability Report 2025

议题重要性评估 分析方法 分析流程 时间周期Methodology Analysis process Time cycle

TOPIC MATERIALITY 选择可持续发展工作小组、公司重点部门管理层、专业第三方机构构成专家组，开展财务重要性与影ASSESSMENT 响重要性评估专家分析法 每年开展Expert analysis method An expert panel is formed comprising members of the Annually

招商中铁富砚高速 Sustainability Working Group management teams from key

CMCR Fuyan Expressway departments of the Company and third-party professional

organizations to conduct financial materiality and impact

materiality assessments

针对股东和投资者、员工、客户、供应商/合作伙伴、

行业协会/商会组织、媒体、当地社区/公众开展问

双重重要性分析问卷调研与量化分析卷调研，利用问卷数据开展量化分析，结合专家分Questionnaire survey and 析结果，形成重要性分析结论 每年更新评估数据DUAL MATERIALITY ANALYSIS quantitative analysis Questionnaire surveys are conducted targeting shareholders Assessment data is updated investors employees customers suppliers partners annually

industry associations chambers of commerce media local

communities and the public while quantitative analysis are

招商公路参考《深圳证券交易所上市公司自律监管指引第 17 号——可持续发展报告（试行）》（以下简称《深交所指引 conducted using questionnaire data. Combined with expertanalysis results materiality conclusions are formed第17号》）、《深圳证券交易所上市公司自律监管指南第3号——可持续发展报告》（以下简称《深交所指南第3号》）

相关要求，初步建立了双重重要性分析工作流程，从影响重要性和财务重要性两方面，评估各项议题的外部性影响，及开展重点部门调研、利益相关方分析，重新识别重其对公司经营发展的风险及机遇。要性议题的风险与机遇，定量与定性结合，形成定深度定制化分析制化方案每3年开展一次

招商公路以三年为一个周期开展双重重要性分析，本周期为2024—2026年，已于2025年发布《双重重要性分析报告》1。

Deep customization analysis Conduct research on key departments and stakeholder Once every three years

analysis re-identify the risks and opportunities of important

CMET has established a preliminary dual materiality analysis framework based on the requirements of the SZSE Guideline No. 17 and the issues combine quantitative and qualitative methods and

SZSE Guidance No. 3 to evaluate the external impacts of various topics as well as the related risks and opportunities for the Company's form customized solutions

business development from both impact materiality and financial materiality perspectives.CMET conducts dual materiality analysis on a three-year cycle (the timeframe for this cycle is 2024-2026) and has published the Dual ※ 注释：

Materiality Analysis Report1 in 2025. 1. 公司于 2025 年开展深度定制化分析，并形成招商公路《双重重要性分析报告》，报告已披露于公司官网，分析结果可于公司官网查询。

2.本年度双重重要性分析结果在2025年发布的《双重重要性分析报告》的基础上进行更新，因此重要性议题库未更新，与2024年度可持续发

展报告中重要性议题保持一致，后续不再赘述。重要性议题调整请参照《招商公路2024年度可持续发展报告》。

3.我们持续跟进公司重要性议题的风险与机遇，进行不定期研判，当公司主要业务或运营地点发生较大变化时，动态开展双重重要性分析。

本报告双重重要性分析结合专家分析法、问卷调研与量化分析，在 2025 年发布的《双重重要性分析报告》的基础上进行 ※ Notes:更新 2，以 2025 年发布的《双重重要性分析报告》结论为主，赋予两个年度分析结果不同权重，综合生成本报告双重重 1.The Company conducted an in-depth customized analysis in 2025 and published the Dual Materiality Analysis Report. The report is available要性分析结论。2026 年度可持续发展报告中，我们将充分考虑新一年公司经营面临的最新形势与政策要求，滚动更新双 on the Company's official website with access to the analysis results.重重要性分析 3。 2.The dual materiality analysis results for the current year are updated on the basis of the Dual Materiality Analysis Report published in 2025.Therefore the material topics library remains unchanged and consistent with that in the Sustainability Report 2024 and will not be reiterated

The dual materiality analysis in this Report combines the expert analysis method with questionnaire surveys and quantitative analysis and is in subsequent sections. For any adjustments to material topics please refer to the CMET Sustainability Report 2024.updated primarily based on the Dual Materiality Analysis Report published in 20252. With different weights assigned to the analysis results of

the two years the dual materiality analysis conclusions for this Report are generated in a comprehensive manner. In the Sustainability Report 3.We continuously monitor the risks and opportunities related to the Company's material topics and conduct ad hoc assessments as needed.

2026 we will fully consider the latest developments in the Company's operations and policy requirements in the new year and conduct a When significant changes occur in the Company's principal business activities or operational locations dual materiality analysis will be

rolling update of the dual materiality analysis3. conducted dynamically.

2021招商公路议题重要性评估2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Topic Materiality Assessment Sustainability Report 2025利益相关方沟通

STAKEHOLDER ENGAGEMENT

公司致力于及时听取和精准回应各利益相关方的关切和诉求，建立健全透明、高效的双向沟通机制，搭建多元化交流渠道。 Committed to proactively listening to and precisely responding to the concerns and expectations of its stakeholders CMET has established报告期内，公司制定并发布《招商公路利益相关方参与政策声明》，不断提升利益相关方管理水平。 and continuously improved a transparent and efficient two-way communication mechanism supported by diversified communicationchannels. During the Reporting Period the Company formulated and published the CMET Stakeholder Engagement Policy Statement

continuously enhancing the standardized management of stakeholder engagement.利益相关方政府及监管机构股东及投资者客户合作伙伴员工社区及媒体

Government and Shareholders and Customers Partners Employees Communities and media

regulatory authorities investors

*依法合规经营*保护股东权益*建设安全、通畅、舒适的道路通行环境*持续稳定合作*保障员工权益*支持经济发展

*助力“双碳”目标*完善公司治理*提供优质服务*开展供应商管理*保障职业健康与安全*助力乡村振兴

*加强研发与创新*加强研发与创新*促进员工发展*助力“双碳”目标

*助力乡村振兴*提升盈利能力

*保障客户隐私安全*贡献行业发展*提升员工福祉*助力智慧交通

*助力交通强国建设*加强风险管控*公开经营信息*平等对待中小企业*公开经营信息

期*支持经济发展*公开经营信息望

与 ?Operations in compliance with ?Protection of shareholder rights ?Establishment of safe ?Sustained and stable ?Protection of employee rights ?Support for economic

诉 laws and regulations and interests smooth and comfortable road cooperation and interests development

求 ?Support for Dual Carbon goals ?Improvement of corporate environment ?Supplier management ?Assurance of occupational ?Contribution to rural

?Contribution to rural governance ?Delivery of quality services implementation health and safety revitalization

revitalization ?Enhancement of profitability ?Enhancement of R&D and ?Enhancement of R&D and ?Promotion of employee ?Contribution to Dual Carbon

?Advancement of building ?Strengthening of risk innovation innovation development goals

a country with strong management ?Protection of customer privacy ?Contribution to industry ?Enhancement of employee well- ?Contribution to intelligent

transportation network ?Disclosure of operating and security development being transportation

?Promotion of economic information ?Disclosure of operating ?Equal treatment of small and ?Disclosure of operating

development information medium-sized enterprises (SMEs) information

*日常汇报、沟通与考核*股东会*机构投资者调研*高速出行公告*交通广播*业务合作与日常沟通*工会组织和活动*公益慈善活动

*巡查与批示*定期与临时报告*券商策略会*收费站、服务区工作人员沟通*行业论坛*供应商沟通渠道*员工培训项目*定期与临时报告

*工作会议*定期报告业绩说明会*反路演活动*服务区投诉电话*定期与临时报告*论坛与交流合作*节日主题活动及走访慰问*论坛与交流合作

沟*定期与临时报告*深交所互动易平台*“走进上市公司”系列活动*客户服务热线*透明政策

*行业标准制定*社交媒体宣传

通*行业协会*投资者热线*公司官网*新媒体（公众视频号等）*公众媒体（电视、交通广播、纸媒等）渠道

与 ?Routine reporting communication ?Shareholder's ?Institutional investor ?Expressway travel ?Traffic radio ?Business cooperation and ?Trade union organizations and ?Public welfare and charitable

and assessment Meeting research announcements ?Industry forums routine communication activities activities方

?Inspections and instructions ?Regular and interim ?Broker strategy meetings ?Communication with staff at toll ?Regular and interim ?Supplier communication ?Employee training programs ?Regular and interim reports式

?Work meetings reports ?Reverse roadshows station and service area reports channels ?Festive-themed activities and ?Forums and exchange

?Regular and interim reports ?Regular performance ?"Listed company open ?Service area complaint hotline ?Transparent policies ?Forums and exchange outreach visits cooperation

briefings cooperation

?Industry associations day" series activities ?Customer service hotline ?Social media publicity

?SZSE Interactive ?Company official website ?New media (official video ?Industry standard setting ?Public media (television traffic

Easy platform channels etc.) radio print media etc.)

?Investor hotline

2223

Stakeholders Expectations and concerns Communication channels and methods招商公路 议题重要性评估 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Topic Materiality Assessment Sustainability Report 2025年度重要性分析结论

ANNUAL MATERIALITY ANALYSIS CONCLUSION年度实质性议题识别重要性分析

ANNUAL MATERIAL TOPICS IDENTIFICATION MATERIALITY ANALYSIS

基于可持续发展指引指南、政策趋势、媒体观察、行业动态及同业对标，公司结合行业特色和公司现状共识别出24项议题1。公司以三年为周期开展年度评估工作，并围绕安全运营、绿色低碳、服务提升、公司治理及社会责任等核心领域开展信息披Based on sustainability guidelines and standards policy trends media observation industry dynamics and peer benchmarking 露工作，确保公司在经济、环境、社会维度的可持续发展实践能够系统、连贯地回应各方关切，创造长期共享价值。

and taking into account the characteristics of the industry and the Company's current situation CMET has identified 24 material The Company conducts annual assessments on a three-year cycle and discloses information across core areas including safe

topics1. operations green and low-carbon development service enhancement corporate governance and social responsibility. This

ensures that the Company's sustainability practices in the economic environmental and social dimensions systematically and

coherently respond to the concerns of all parties creating long-term shared value.合规要求权威评级机构同行对标

Compliance requirements Authoritative rating agencies Peer benchmarking

《深交所指引第 17 号》 标普 CSA 8 家国内外公路行业企业

SZSE Guideline No. 17 Corporate Sustainability Assessment (CSA) by Eight domestic and international expressway 识别： Identification：

S&P Global companies

《GRI 可持续发展报告标准》 万得 Wind 基于 2025 年开展的座谈会、问卷调研结果，沿用双重重 Based on the results of seminars and questionnaire surveys conductedGRI Standards Wind 要性议题库。 in 2025 the dual materiality topic library was retained.评估： Assessment:

结合专家分析法、问卷调研与量化分析，面向 6 类利益相 Combining expert analysis questionnaire surveys and quantitativeanalysis questionnaires were distributed to six categories of stakehold-

政策趋势 行业标准 媒体观察 关方发放问卷，并引入公司高管意见，进行年度双重重要 ers and opinions from CMET executives were incorporated to conductPolicy trends Industry standards Media Observation 性评估。 the annual dual materiality assessment.国家有关部委发布的“双碳”、 交通运输部办公厅 交通领域重大新闻事件 报告： Reporting：

绿色交通等相关政策《绿色交通标准体系（2022年）》

Major news events in the 基于评估结果及招商公路可持续发展工作现状，本报告双 Based on the assessment results and the current state of CMET's sus-Policies related to Dual Carbon goals and green Green Transportation Standards System (2022) transportation sector

重重要性程度最高的三项议题为：公路品质与运营安全、 tainability work the three topics of highest dual materiality in this Re-transportation issued by relevant national issued by the General Office of the Ministry ofministries and commissions Transport 智慧公路建设、应对气候变化。本年度按照“ 治理—战略— port are expressway quality and operational safety smart expresswaydevelopment and climate change response. These three topics are dis-影响、风险和机遇管理—指标和目标”四支柱架构对此三 closed in this Report following the four-pillar structure of "governance

项议题进行披露。 - strategy - impact risk and opportunity management - indicators andtargets".※注释：

1.公司议题识别与研究分析要点以及2024年度议题调整详细信息请参照《双重重要性分析报告》。

※ Note:

1.For details on the Company's topic identification and analysis points as well as adjustments to material topics in 2024 please refer to the

Dual Materiality Analysis Report.

2425招商公路议题重要性评估2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Topic Materiality Assessment Sustainability Report 2025

2025年度双重重要性分析结果

DUAL MATERIALITY ANALYSIS CONCLUSION IN 2025非常重

要 ? 应对气候变化 ? 公路品质与运营安全 ? 公司治理Climate change response Expressway quality and Corporate governance

operational safety

?生物多样性与土地应用?商业道德

Biodiversity and land use * 智慧公路建设 Business ethics

? 能源利用 Smart expressway development ? 尽职调查

10 Energy utilization * 数据安全与客户隐私保护 Due diligence

12 11 ? 循环经济 Data security and customer

13 privacy protection

?利益相关方沟通

Circular economy Stakeholder engagement

222

影18?雇佣管理

14241

?环境合规管理

响 Environmental compliance Employment management

重 15 4 23 management ? 培训与发展

要 20 19 ? 水资源利用 Training and development性

5 Water resource utilization6 ? 职业健康与安全3

7 16 ? 废弃物处理 Occupational health and safety

17 Waste management ? 多元平等

8 21 ? 噪声管理 Diversity and equality

Noise management ? 供应商管理

9 ? 有害排放物管理 Supplier management

Hazardous emissions ? 乡村振兴

management Rural revitalization

?社区关系

Community relations

重?平等对待中小企业

要 Equal treatment of SMEs重要财务重要性非常重要

Important Financial materiality Very important

2627

Very important Impact materiality Important招商公路 可持续发展治理 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Sustainability Governance Sustainability Report 2025可持续发展治理

SUSTAINABILITY GOVERNANCE

招商公路建立层次分明、权责清晰的决策体系，明确决策层、管理层与执行层的职责划分，提升对利益相关方诉求的响董事会和下设战略与可持续发展委员会应能力，实现信息传达的及时性、准确性与互动性，为可持续发展实践提供有力支撑。 The Board and its Strategy and Sustainability Committee同时，控股股东招商局集团作为联合国全球契约（UNGC）的参与方，致力于为可持续增长贡献力量。招商公路作为招 对可持续发展战略、管理方针与策略、可持续发展相关影响、风险和机遇等事项进商局集团可持续发展工作的重要组成力量，积极响应集团要求，搭建高效的可持续发展治理架构，不断提升全员可持续 决策层 行审议与监督。Decision-发展能力。 making level Responsible for reviewing and supervising matters related to sustainability strategies management policies and approaches and sustainability-related impacts risks and opportunities.CMET has established a decision-making system with clear hierarchies and well-defined responsibilities clarifying the division of duties

among the decision-making management and execution levels. This enhances the Company's responsiveness to stakeholder concerns and

ensures the timeliness accuracy and interactivity of information communication providing strong support for sustainability practices.Meanwhile CMG the controlling shareholder of CMET and a participant of the UNGC is committed to contributing to sustainable growth. 可持续发展领导小组

As an important component of CMG's sustainability efforts CMET actively responds to the Group's requirements by establishing an efficient Sustainability Leading Group

sustainability governance framework and continuously enhancing the sustainability capabilities of all employees.由公司总经理及分管董事会办公室的公司领导组织、公司其他领导班子成员配合，共同组成领导小组，拟定可持续发展管理政策与制度，制定年度可持续发展工作目标，管理层开展可持续发展工作考核评价。

Management Led by the Company's CEO and leadership of the Board Office with the cooperation of other

level members of the leadership team this group formulates sustainability management policies and

systems sets annual sustainability goals and conducts assessment and evaluation of sustainability

performance.可持续发展治理架构

SUSTAINABILITY GOVERNANCE STRUCTURE可持续发展工作小组

Sustainability Working Group

公司搭建了可持续发展三层治理架构，由董事会及下设战略与可持续发展委员会负责总体决策与监督，可持续发展工作小组负责统筹管理与推进，总部职能部门和各所属公司开展具体工作，通过权责细化、部门协同、资源整合，推动可持由董事会办公室、公司总部其他各部门、各所属公司负责人及工作人员共同组成，续发展从战略部署到落地实施的高效转化。 具体落实可持续发展战略关键任务，各部门 / 所属公司设置 ESG 专岗或联络人，定执行层期上报可持续发展目标完成进展，支持可持续发展年度信息披露的资料汇总和报送。

CMET has established a three-tier governance structure for sustainability. The Board and its Strategy and Sustainability Committee oversees Execution

overall decision-making and supervision. The Sustainability Working Group is responsible for overall management and implementation Comprising the Board Office other functional departments of CMET headquarters and level

coordination. The headquarters' functional departments and subsidiaries carry out specific tasks. Through responsibility refinement designated representatives and staff from each subsidiary this group is tasked with the concrete

interdepartmental collaboration and resource integration we promote the efficient transition of sustainability from strategic deployment to implementation of key sustainability initiatives. Within this framework each department

practical implementation. and subsidiary appoints an ESG specialist or liaison to regularly report on progress toward

sustainability goals and to support the compilation and submission of materials for the annual

sustainability disclosure.

2829招商公路可持续发展治理2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Sustainability Governance Sustainability Report 2025可持续发展能力建设可持续发展融入管理

SUSTAINABILITY CAPACITY BUILDING INTEGRATION OF SUSTAINABILITY INTO MANAGEMENT

招商公路构建与可持续发展战略紧密衔接的培训体系，面向全员开展治理理念、绿色低碳技术与实践、社会责任、合规 招商公路推进可持续发展绩效与经营管理的深度融合，建立分层分级的 ESG 指标管理体系，并将 ESG 治理纳入对各级风控等前沿领域的培训。面向管理层及决策者，公司重点开展可持续发展战略与绿色金融等研讨，强化顶层设计能力； 子公司的 KPI 考核指标，将总部战略转化为可执行、可评估的运营标准，推动 ESG 要求融入日常业务。

面向所属公司，则聚焦节能降耗技术应用、生态环境保护、智慧交通解决方案、提升服务质效等实操性培训，提升其绿在信息披露方面，建立标准化数据采集与核验流程，确保定性描述准确反映实践成效、定量数据可追溯、可对比，并通色运营与创新实践本领；常态化开展全员的合规廉洁、安全生产培训，守好可持续发展的风险防线。

过设立专职 ESG 对接岗位并开展常态化能力建设，持续强化组织执行力与专业化水平。

CMET has established a training system closely aligned with its sustainability strategy to conduct company-wide training on cutting-edge 在价值转化方面，筛选符合绿色债券标准的绩效指标，探索 CCER 等碳资产开发与交易路径，推动绿色金融工具应用；

topics including governance concepts green and low-carbon technologies and practices social responsibility and compliance and risk

control. For the Management Team and decision-makers the Company focuses on seminars regarding sustainability strategy and green 支持业务单位围绕路域资源推动价值转化，包括探索路域绿色资源管理、整合光伏等可再生能源实现资产化运营，实现finance to strengthen top-level design capabilities. For subsidiaries the emphasis is placed on practical training in energy-saving and 资源资产化、金融化；公司将 ESG 绩效与市值管理有机结合，公司股票入选多个 ESG 指数，包括“沪深 300ESG 领先”“中consumption-reducing technology applications ecological and environmental protection smart transportation solutions and service quality 证央企 ESG50”“ MSCI CHINA A RMB ESG UNIVERSAL”“富时中国国企开放共赢”“恒生 A 股通低碳精选”等代表性指数，and efficiency enhancement aiming to enhance their green operation and innovative practice capabilities. Regular training on compliance

integrity and safety in production is conducted for all employees to safeguard the risk defense line of sustainability. 获“中国国企 ETF”等公募 ESG 基金配置。

CMET promotes the deep integration of sustainability performance with business management by establishing a tiered and categorized ESG

indicator management system. ESG governance is incorporated into the key performance indicator (KPI) assessment of subsidiaries at all

制度宣贯及 ESG 体系建设专题培训：宣贯公司修订的各项制度，厘清决策流程；开展内部合规培训，确保 levels transforming the headquarters' strategy into executable and evaluable operational standards and embedding ESG requirements into高管及关键岗位守法合规；宣贯 ESG 建设路线图与实践案例，推动 ESG 制度与指标体系建设。 daily business operations.年 Thematic training on policy communication and ESG system development: Communicates and implements various In terms of information disclosure the Company has established standardized data collection and verification processes to ensure that 度

培 newly revised Company policies and decision-making processes conducts internal compliance training to ensure executives qualitative descriptions accurately reflect practical outcomes and quantitative data is traceable and comparable. By appointing dedicated

训 and key positions adhere to laws and regulations and promotes the ESG development roadmap and practical cases to ESG liaison positions and conducting regular capacity-building initiatives we continuously enhance organizational execution capacity and

advance the development of ESG systems and indicator frameworks. professional standards.In terms of value transformation CMET selects performance indicators meeting green bond standards explores pathways for the

可持续金融产品及案例分享：介绍可持续产品，明确产品优势，推动各部门及所属公司挖掘与公路投资运营、 development and trading of carbon assets such as China Certified Emission Reduction (CCER) and promotes the application of greenfinance instruments. The Company supports business units in driving value transformation around roadway resources including exploring

交通科技、智能交通、交通生态相关的可持续金融机会。 green resource management along roadways and integrating renewable energy sources such as photovoltaics to achieve asset-basedSharing of sustainable finance products and case studies: Introduces sustainable products clarifies product advantages operations thereby realizing resource assetization and financialization. We strategically integrate ESG performance with market capitalization

and encourages various departments and subsidiaries to explore sustainable finance opportunities related to expressway management and our shares have been included in multiple ESG indices including representative indices such as the CSI 300 ESG Leaders

investment and operation transportation technology smart transportation and transportation ecology. Index CSI Central SOEs ESG 50 Index MSCI China A RMB ESG Universal Index FTSE China SOE Sustainable Prosperity Index and Hang Seng

Stock Connect China A Low Carbon Select Index. Meanwhile our shares have also been allocated by public ESG funds such as China FTSE

China SOE Stn Pt.可持续发展趋势培训：重申可持续发展重要性，介绍可持续发展最新趋势，明确公司进入系统夯实 ESG 管理工作的新阶段，推动 ESG 战略规划的落地实施。

Training on sustainability trends: Reaffirms the

importance of sustainability introduces the latest trends

in the field clarifies that the Company has entered a new

phase of systematically strengthening ESG management

and promotes the implementation of strategic ESG

planning. 招商公路京津塘高速

CMET Beijing-Tianjin-Tanggu Expressway招商公路可持续发展培训

CMET's Sustainability Training

3031

Annual training programs招商公路 专题：数智驱动发展，智慧赋能未来 2025 年度可持续发展报告China Merchants Expressway Network & Technology Holdings Co. Ltd. Special Feature: Digital Intelligence Driving Development Smart Innovation Empowering Future Sustainability Report 2025

专题 战略引领：擘画数智发展新蓝图Special Feature STRATEGIC GUIDANCE: CHARTING A NEW BLUEPRINT FOR DIGITAL AND INTELLIGENT DEVELOPMENT

公司将数智化转型作为驱动业务模式革新、构建未来竞争优势的根本动力。

The Company regards digital and intelligent transformation as the fundamental driver for innovating business models and building future

数智驱动发展，智慧赋能未来 competitive advantages.核心战略与愿景 Core strategy and vision

DIGITAL INTELLIGENCE 核心资源：区位资源、数据资源双轮驱动

DRIVING DEVELOPMENT 定位：从传统基础设施运营商，升级为数据驱动的智慧基础设施投资运营平台转型愿景：主业智能化，实现投资、运营、养护、服务全链条的精准决策与效率倍增；产业生态化，培育绿色能源、路衍经济SMART INNOVATION 等数字化新增长极；管理精益化，推动总部职能与公司治理的数字化与协同化。

Core driving forces: Two-pronged approach drive of location resources and data resources

EMPOWERING FUTURE Positioning: Upgrading from a traditional infrastructure operator to a "data-driven smart infrastructure investment and operation platform"

Transformation vision: Core business intelligentization achieving precise decision-making and multiplied efficiency across the entire chain

of investment operation maintenance and services; industrial ecosystem development cultivating new digital growth poles such as green

energy and road-derived economy; management refinement promoting digitalization and synergization of headquarters functions and

招商公路深刻把握集团“稳中求进”要求，以科技创新和产业升级驱动高质量 corporate governance.发展，以“中国领先的公路及相关基础设施投资运营企业”为愿景，积极响应转型框架 Transformation framework

国家“交通强国”与集团“数智化招商局”战略部署，通过前沿技术驱动主业升级、业务层 Business 数据层 Data

培育创新生态、重塑管理模式，全面推进数智化转型。

以主营业务（投资、运营、资本运作）和创新业务（交打造统一数据中台，贯通内外部数据，沉淀数据资产，CMET deeply understands and thoroughly implements the Group's principle of "pursuing progress 能融合、路衍经济）的数字化场景为牵引。 为智能决策提供燃料。

while ensuring stability" driving high-quality development through Sci-Tech innovation and industrial Driven by digital scenarios in core businesses (investment Building a unified data middle platform to integrate internal and

operation and capital operation) and innovative businesses external data accumulate data assets and support intelligent

upgrading. With the vision of becoming "China's leading investor and operator in expressways and including transportation-energy integration and road-derived decision-making.related infrastructure" the Company actively responds to the national strategy of "building a country economy.with strong transportation network" and CMG's strategic deployment of "becoming a digital and

intelligent enterprise". By leveraging cutting-edge technologies to upgrade core businesses foster an

innovation ecosystem and reshape management models CMET comprehensively advances its digital 技术层 Technology 组织层 Organization

and intelligent transformation. 依托云原生、AI 大模型等技术底座，建设敏捷、弹性、 建立匹配的治理架构、人才梯队与创新文化，保障战安全的数字平台。略落地。

Leveraging technology foundations including cloud-native Establishing an aligned governance structure talent pipeline

architecture and AI large models to build an agile elastic and and innovation culture to ensure strategy implementation.招商公路甬台温高速 secure digital platform.CMET Ningbo-Taizhou-Wenzhou Expressway

3233招商公路专题：数智驱动发展，智慧赋能未来2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Special Feature: Digital Intelligence Driving Development Smart Innovation Empowering Future Sustainability Report 2025

主业筑基：打造智慧运营新标杆创新领航：培育产业协同新生态

CORE BUSINESS FOUNDATION: SETTING A NEW BENCHMARK FOR SMART INNOVATION LEADERSHIP: CULTIVATING A NEW ECOSYSTEM FOR INDUSTRIAL

OPERATIONS SYNERGY

我们致力于将人工智能、大数据等技术与高速公路投资运营核心场景深度融合，推动主营业务向“精准、高效、安全、低碳”数智化不仅优化主业，更催生新的商业模式与产业机遇。我们积极布局数字化新兴产业，构建开放协同的产业生态。

全面升级。

We are committed to deeply integrating technologies such as artificial intelligence and big data with the core scenarios of expressway Digital and intelligent transformation not only optimizes our core business but also fosters new business models and industrial opportunities.investment and operation driving a comprehensive upgrade of our main business toward "precision efficiency safety and low carbon". We actively deploy emerging digital industries and build an open and collaborative industrial ecosystem.智慧投资与资本运营智慧路段运营与安全管理“交通+”路衍经济数字化绿色能源与新材料应用

Smart investment and capital operations Smart roadway operations and safety management "Transportation+" digital road-derived economy Green energy and new material applications

智能投研决策：构建战略分析数据平台，整合宏观、行业、运营管理一体化：推动调度、养护、收费“三朵云”全云上服务区：整合路域流量、属地特色商品与电商供应链，智慧交能融合：以京津塘高速改扩建为示范，建设“光伏标的公司多维数据。 面覆盖与能力升级；应用 AI 视频分析大模型，实现交通 打造线上线下融合的“云上服务区”平台，将通行流量转 + 储能 + 充电”一体化智慧能源系统，实现服务区等设施事件自动检测、拥堵智能疏导，提升路段通行效率，降低化为消费客户，创新服务区盈利模式。绿电自洽；搭建能源智慧管理平台，优化能源调度，打造数字化资本管理：开展市值管理、舆情监控、ESG 分析，事故率。零碳高速公路标杆。

实时感知市场动态，智能生成分析报告与应对策略。数据产品化：深入挖掘高速公路车流、物流等数据价值，收费模式革新：推广云化收费站、收费机器人及匝道自由开发标准化数据产品，探索在物流优化、商业选址等领域绿色材料与工艺创新：推广应用生物基改性沥青、锚筋桩流预交易系统，实现收费无人化、少人化，提升通行体验，的市场应用，推动数据资产价值变现。等绿色材料与快速施工工艺，并通过数字化平台监控其全降低运营成本。生命周期性能，降低碳排放，提升工程品质与耐久性。

全域主动安全防控：构建“感知—预警—决策—处置”智

能安全体系，利用无人机、物联网传感器实现基础设施智能巡检。

Intelligent investment decision-making: Building a data platform Integrated operations management: Promoting comprehensive Cloud-based service areas: Integrating roadway traffic locally Smart transportation-energy integration: Taking the Beijing-

for strategic analysis integrating multi-dimensional data on coverage and capability upgrade of the Three Cloud Platform distinctive products and e-commerce supply chains to create an Tianjin-Tanggu Expressway renovation and expansion as a

macroeconomics industry trends and target companies. of dispatch maintenance and toll collection while applying AI online-offline integrated "cloud service area" platform converting demonstration project building an integrated "photovoltaic

video analysis large models to achieve automatic traffic incident traffic flow into customers and innovating service area profit + energy storage + charging" smart energy system to achieve

Digital capital management: Conducting market capitalization detection and intelligent congestion mitigation enhancing models. green power self-sufficiency for service areas and other facilities

management public opinion monitoring and ESG analysis to roadway traffic efficiency and reducing accident rates. establishing a smart energy management platform to optimize

perceive market dynamics in real time generate smart analytical Data productization: Deeply unlocking the value of expressway energy dispatch and creating a benchmark for zero-carbon

reports and formulate response strategies. Toll collection innovation: Promoting cloud-based toll stations traffic flow and logistics data developing standardized data expressways.toll collection robots and ramp free-flow pre-tolling to achieve products exploring market applications in areas such as logistics

unmanned or reduced-staff toll collection improving travel optimization and commercial site selection and promoting the Green material and process innovation: Promoting the

experience and reducing operational costs. realization of data asset value. application of bio-modified asphalt anchor bars and other green

materials and rapid construction processes and monitoring their

Comprehensive active safety prevention: Building a smart safety full lifecycle performance through digital platforms to reduce

system of "perception warning decision and response" utilizing carbon emissions and improve project quality and durability.drones and IoT sensors for intelligent infrastructure inspection.

3435招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025

通达天下招商公路持续完善治理架构，确保决策发展高质量01科学透明、运营合规高效；恪守诚信经营原则，将商业道德融入企业文化与经营活动；在业务运营过程中坚持系统化

尽职调查，全面评估风险，保障公司战CONNECTING THE WORLD 略平稳落地。

PURSUING HIGH-QUALITY

DEVELOPMENT

CMET continuously improves its governance

structure to ensure scientific and transparent

党建引领 38 decision-making as well as compliant and efficient

Party Leadership operations. The Company adheres to the principle

of integrity in business integrating business ethics

公司治理 40 into corporate culture and operational activities.Corporate Governance In the business processes we insist on systematic

due diligence comprehensively assess risks and

商业道德 45 ensure the smooth implementation of corporate

Business Ethics strategy.风险管理与内部控制51

Risk Management and Internal Control招商公路桂兴高速

CMET Guilin-Xing'an Expressway

3637招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025党建引领夯实基层管理

CONSOLIDATING GRASSROOTS MANAGEMENT

PARTY LEADERSHIP

加强党建品牌及党风建设，表彰激励优秀先进个人，持续强化“人才强企”，全面落实集团“8090三创”年轻干部人才招商公路党委坚持以习近平新时代中国特色社会主义思想为指导，学习贯彻党的二十大和二十届历次全会精神，牢牢把工作要求，打造高素质、专业化干部人才队伍。在运营管理中设立党员先锋队、党员先锋岗，充分发挥党组织的战斗堡握习近平总书记关于党的建设的重要思想核心要义，锚定国有企业“根”与“魂”的战略定位，深化党建与公司治理、垒作用和党员的先锋模范作用，提高人才管理效率与工作效率。

战略发展、实践深度融合的理念。

The Company strengthens Party building brand and Party conduct construction commends and rewards outstanding individuals

continuously reinforces the strategy of "strengthening the enterprise with talents" and fully implements the talent work requirements of

The Party Committee of CMET adheres to the guidance of the Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era

CMG's Third Entrepreneurship initiative for post-80s and post-90s young cadres building a high-quality professional cadre talent team. In

thoroughly studies and implements the spirit of the 20th National Congress of the Communist Party of China (CPC) and all previous plenary

operations management Party member vanguard teams and Party member vanguard posts are established to fully leverage the fighting

sessions of the 20th CPC Central Committee firmly grasps the core essence of the General Secretary Xi Jinping's important thoughts on Party

fortress role of Party organizations and the vanguard and exemplary role of Party members improving talent management efficiency and

building anchors the strategic positioning of the foundation and ethos of state-owned enterprises and deepens the concept of integrating

work efficiency.Party building with corporate governance strategic development and operational practices.把牢政治航向严明纪律红线

STEERING THE POLITICAL DIRECTION ENFORCING STRICT DISCIPLINE

强化企业层面和个人层面的政治引领，定期开展党建工作会和专题党课，召开2025年工作会议暨党建工作会议，提出“守公司党委坚持将纪律规矩挺在前面，通过“三会一课”、主题党日、组织观看警示教育片、通报典型违纪案例等形式，责”“守业”“守底线”三大要求，以党建聚人心、抓改革、谋创新、促发展，把准政治与战略方向，以政治建设为统领，常态化开展党纪学习教育，深入贯彻中央八项规定精神学习教育，引导党员干部知敬畏、存戒惧、守底线，将党的政治将党员队伍锻造为攻坚先锋，推动党建与业务深度融合，以高质量党建引领和保障高质量发展。优势转化为企业廉洁治理的效能。着力构建“大监督”协同机制，把各方面监督贯通起来，持续加强对关键岗位、关键环节的监督，消除权力运行漏洞和监管盲区，有效防范化解廉洁风险。

CMET has strengthened political guidance at both corporate and individual levels regularly held Party building work meetings and thematic

Party lectures and convened the 2025 Work Meeting & Party Building Work Meeting putting forward three major requirements of "fulfilling CMET's Party Committee upholds the principle of prioritizing discipline and rules and regularly conducts the education and training on Party

responsibility honoring commitment and upholding integrity". Through Party building the Company unites people advances reforms discipline through Three Meetings and One Class themed Party Day activities viewings of educational warning films and the circulation

pursues innovation and promotes development ensuring the correct political and strategic direction. Taking political construction as the of typical discipline violation cases. We thoroughly study and implement the Central Committee's Eight-Point Regulations and guide Party

guide we forge the Party member team into a vanguard force in overcoming difficulties and promote the deep integration of Party building members and cadres to respect the rules remain cautious and uphold integrity transforming the Party's political strengths into tangible

and business operations lead and guarantee high-quality development through high-quality Party building. effectiveness in the Company's clean governance. Furthermore the Committee is dedicated to establishing the Big Supervision collaborative

mechanism integrating oversight from various sources continuously strengthening supervision over key positions and critical areas and

eliminating flaws in power execution and blind spots in regulatory oversight thereby effectively preventing and mitigating integrity risks.招商公路桂阳高速

CMET Guilin-Yangshuo Expressway

3839招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025公司治理

CORPORATE GOVERNANCE

招商公路遵守《上市公司治理准则》及深交所要求，搭建由股东会、董事会和管理层构成的公司治理架构，建立权责明确、股东会运作规范的公司治理机制，有效保证公司治理决策的公正性与科学性。

SHAREHOLDERS' MEETING

CMET complies with the Code of Corporate Governance for Listed Companies and the requirements of SZSE establishing a corporate

governance structure composed of the Shareholders' Meeting the Board of Directors and the Management Team and forming a corporate 公司股东会职责明确，议事规则清晰，并得到了严格有效的执行。股东会的召集、召开以及提案程序均严格遵循《公司法》governance mechanism with clearly defined powers and responsibilities and standardized operations effectively ensuring the fairness and 《公司章程》及相关规定，切实保障所有股东、特别是中小股东享有平等地位，确保所有股东均能够充分行使自身的权利。

scientific rigor of corporate governance decisions.The Company's Shareholders' Meeting has clearly defined strictly and effectively implemented responsibilities and well-established rules

of procedure. The convening holding and proposal procedures of the Shareholders' Meeting strictly comply with the Company Law of

股东会 the People's Republic of China the Articles of Association and relevant regulations effectively ensuring that all shareholders particularly

Shareholders' Meeting minority shareholders enjoy equal status and are able to fully exercise their rights.招商公

路董事会战略与可持续发展委员会公司制定《招商公路市值管理制度》《招商公路信息披露管理制度》等多项制度，并在报告期内补充、优化《招商公路公 Board of Directors Strategy and Sustainability Committee 募集资金管理制度》《招商公路对外担保管理制度》《招商公路投资者关系管理制度》等涵盖公司治理、信息披露、司治 提名委员会 ESG 管理领域的 20 项核心制度，确保股东权益。同时，公司畅通线上线下多个沟通渠道，继续保持“零差错、零更正、理架 经营管理层 Nomination Committee 零问询”的高质量披露记录，有力保障了投资者尤其是中小投资者的知情权与参与权。

构 The Management Team薪酬与考核委员会

Compensation and Assessment Committee The Company has formulated multiple policies including the CMET Market Capitalization Management Policy and the CMET Information

总部职能部门及所属公司 Disclosure Management Policy. During the Reporting Period we updated and refined 20 core policies and rules covering corporate

Headquarters functional departments 审计委员会 governance information disclosure and ESG management including the CMET Bond Proceeds Management Policy CMET External

and subsidiaries Audit Committee Guarantee Management Policy and CMET Investor Relations Management Policy ensuring shareholders' rights and interests. Meanwhile

the Company maintains open and accessible online and offline communication channels and continues to uphold a high-quality disclosure

record of "zero error zero correction and zero inquiry" effectively safeguarding investors' rights to information and participation especially

minority investors.战略与可持续发展委员会提名委员会

Strategy and Sustainability Committee Nomination Committee

对公司长期发展战略、重大投资决策、可持续发展工作进 对公司董事和高级管理人员的选择标准和程序进行研究并 关键绩效 Key performance highlights行研究并提出建议。向董事会提出建议。

Researches and makes recommendations on the Company's Researches the selection criteria and procedures for directors and

long-term development strategy major investment decisions senior management and makes recommendations to the Board.and sustainability work.沟通投资者90余人次业绩说明会3次沟通各类券商机构70余次

90+ communications with investors 3 performance briefings 70+ communications with securities institutions

审计委员会

薪酬与考核委员会 Audit Committee

Compensation and Assessment Committee 负责公司内、外部审计的沟通、监督与核查工作，以及风制定公司董事及高级管理人员的考核标准并进行考核；负险管理、内部控制、法制、合规管理的指导与审核工作，责制定、审查公司董事及高级管理人员的薪酬政策与方案。 同时行使《公司法》规定的监事会职权。 累计发布公告183条 深交所信息披露连续7年A级Formulates and implements assessment standards for directors Oversees communication supervision and review of internal

and senior management develops and reviews compensation and external audits as well as guidance and review of risk

policies and plans for directors and senior management. management internal control legal affairs and compliance 183 announcements cumulatively released SZSE information disclosure assessment

management and exercises the functions and powers of the maintained at Grade A for 7 consecutive years

Board of Supervisors as stipulated in the Company Law of the

People's Republic of China.

4041

Governance structure of CMET招商公路 通达天下 发展高质量 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025董事会董事会独立性

BOARD OF DIRECTORS Board independence

公司严格遵守相关法律法规及《公司章程》的要求选聘、任免公司董事，董事会权责清晰，董事会的召集、召开程序符公司重视董事会独立性建设，将董事会独立性建设纳入治理架构建设的核心，公司在《招商公路独立董事工作制度》中合《公司法》《公司章程》以及《公司董事会议事规则》等相关规定，制定《招商公路董事会独立性与成员多元化政策》，规定“公司董事会中独立董事的比例不少于三分之一”。对公司董事会独立性作出要求，针对利益冲突、关联交易、重确保董事会充分发挥在重大事项、经营管理等方面的决策、监督作用。大捐赠、亲属关系等明确要求，包括但不限于董事的亲属不得担任公司或所属公司的管理人员、董事不与公司的重要客户、供应商、合作伙伴存在商业联系或利益关系、董事与公司存在巨大金额捐赠或赞助的第三方无关联关系、董事在董事会

CMET strictly complies with relevant laws and regulations as well as the requirements of the Articles of Association in the selection

appointment and removal of directors with clearly defined authorities and responsibilities for the Board. The convening and holding 中不存在与公司产生任何利益冲突导致其丧失独立性的情况。现任董事会成员中，共有董事 12 人，其中非执行董事 10 人，procedures of Board meetings comply with the Company Law of the People's Republic of China the Articles of Association the Rules of 包括非执行独立董事 4 人，独立董事占比为 33.33%，满足“公司董事会中独立董事的比例不少于三分之一”规定。

Procedure for Board Meetings and other relevant regulations and we have formulated the CMET Board Independence and Diversity Policy

ensuring that the Board fully exercises its decision-making and supervisory roles in major matters and business management.CMET places significant emphasis on Board independence incorporating it into the core of the Company's governance framework

construction. In the CMET Independent Directors Working Policy the Company stipulates that "independent directors must comprise no

关键绩效 less than one third of the Board".Specific requirements regarding Board independence are established with clear stipulations concerning Key performance highlights

conflicts of interest related party transactions significant donations and family relationships. These include but are not limited to: relatives

of directors may not serve as managers of the Company or its subsidiaries; directors may not have commercial connections or interests

22 10 with the Company's major clients suppliers or partners; directors may not be affiliated with third parties with whom the Company has significant donations or sponsorships; and directors may not have any conflicts of interest with the Company that would compromise their 专门委员会（包含独立董事工作会议）召开 次 董事会召开 次

independence in Board deliberations. The current Board consists of 12 directors including 10 non-executive directors among whom are

22 specialized committee meetings (including independent 10 Board meetings four independent non-executive directors. Independent directors account for 33.33% of the Board meeting the above mentioned regulatory

director meetings) requirement.董事会议案通过率100%董事会会议出席率100%

100% approval rate of Board proposals 100% attendance rate at Board meetings 董事会责任与有效性

Board responsibility and effectiveness公司建立董事会绩效评价机制，定期评估董事会成员绩效表现，以保障董事会治理有效性，严格对标招商局集团《董事董事会多元化会评价办法》和《董事会建设指引》要求，从制度建设与执行、会议召开、议案管理、专门委员会运行、支撑保证等多Board diversity 角度建立董事会多维评价机制，通过董事会下设薪酬与考核委员会开展绩效评价工作，并结合自我评价与互相评价，每年从董事会建设、治理和履职效能等维度对所有董事会成员实施动态评估，从“定战略、作决策、防风险”功能作用发在董事任命方面，公司秉持性别多元、背景多元的原则，结合公司的发展模式与业务需求，从性别、年龄、学历、专业挥情况和企业发展改革成效方面评估董事会的有效性。

等多个维度考虑董事会成员的构成。现任董事会成员中女性董事21名，且具有交通运输、道路基建、风险管理、金融法律和现代企业管理等多领域专业背景，具有丰富的行业经验，确保董事会决策的正确性。2025年度内，招商公路董事会决策未发生重大误差，高效审议全部董事会议案。

In the appointment of directors CMET upholds the principles of gender diversity and background diversity considering the Board CMET has established a Board performance evaluation mechanism to regularly assess the performance of Board members ensuring the

composition from multiple dimensions including gender age educational background and professional expertise in alignment with effectiveness of Board governance. Strictly adhering to the requirements of CMG's Board Evaluation Methods and Board Development

the Company's development model and business needs. The current Board includes two1 female directors and Board members possess Guidelines the Company has developed a multi-dimensional Board evaluation mechanism covering aspects including system development

professional backgrounds in multiple fields such as transportation road infrastructure risk management finance and law and modern and implementation meeting convening proposal management specialized committee operations and supporting mechanisms.enterprise management ensuring the correctness of Board decisions. Performance evaluation is conducted through the Compensation and Assessment Committee under the Board combining self-assessment

and peer assessment. All Board members undergo annual dynamic evaluation from perspectives including Board construction governance

※ 注释： and performance effectiveness while the Board's overall effectiveness is assessed based on its performance in "strategic planning decision

1. 董事会成员人数为截至 2026 年 3 月 31 日数据，最新数据请参照公司公告。 making and risk prevention" as well as the outcomes of the Company's development and reforms.

※ Note: During the Reporting Period no significant errors occurred in CMET's Board decisions and all Board meeting proposals were efficiently

1.The Board member count reflected here is as of March 31 2026. For the latest information please refer to the Company's announcements. reviewed.

4243招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025管理层商业道德

THE MANAGEMENT TEAM

公司制定并严格遵循《招商公路经理层成员薪酬管理办法》，以绩效评价作为高级管理人员薪酬以及其他激励的重要依据， BUSINESS ETHICS高级管理人员薪酬与公司绩效和个人业绩挂钩，明确总经理薪酬由固定年薪、绩效奖金和专项奖励构成，公司持续完善招商公路始终坚持“零容忍”的态度，通过建立健全的合规体系、强化全员廉洁教育、实施严格的问责机制，将商业道总经理薪酬与战略目标可变、联动机制，绩效奖金考核，参考国务院国资委“一利五率”核心指标，明确挂钩经常性利润、德要求深度融入公司治理与业务流程。

经营性现金流净额、投入资本回报率（ROIC）、研发投入强度，创新引入公司在资本市场的表现情况、ESG 体系建设进展等高质量发展指标，力争平衡短期业绩增长与长期价值创造。2025 年，总经理从公司获得的税前报酬总额为 170 万元， CMET adheres to a "zero-tolerance" approach deeply integrating business ethics requirements into corporate governance and businessprocesses by establishing strengthening and implementing a sound compliance system strengthening integrity education for all employees

总经理与员工薪酬比为7.00。

and implementing strict accountability mechanisms.公司建立经理层绩效奖金薪酬追索与扣回机制，依据《招商公路总部受党纪政纪处分员工薪酬扣减实施细则(试行)》，合规管理定期对总经理及其他管理层实施年度绩效审查。对重大决策失误或违规情形，公司将依照《招商公路受党纪政纪处分员工薪酬扣减实施细则 ( 试行 )》启动薪酬扣减及历史奖金追索程序，对年度绩效薪资及长期绩效激励追索，实现权责对等 COMPLIANCE MANAGEMENT的闭环管理。招商公路严格遵守《公司法》《反垄断法》《公平竞争审查条例》等法律法规，建立以《招商公路合规管理规定》《招商公路行为准则》为基础，涵盖廉洁监督、廉洁行为规范为核心内容，明确包括反洗钱的具体要求1，全方位、全覆盖的The Company has formulated and strictly adhered to the Compensation Management Measures for the Management Team of CMET using

performance evaluation as an important basis for executive compensation and other incentives. Executive compensation is linked to both 合规管理制度。

Company performance and individual performance. It is clearly stipulated that the CEO's compensation consists of fixed annual salary 截至报告期末，公司未发生任何利益冲突、洗钱或内幕交易等不合规事件。

performance-based bonuses and special incentives. The Company continuously improves the dynamic mechanism that links the CEO's

compensation to strategic objectives. Performance bonus assessment is based on the core One Profit and Five Ratios indicators of the SASAC CMET strictly complies with laws and regulations including the Company Law of the People's Republic of China the Anti-Monopoly Law of the

specifically linking to recurring profits operating cash flow return on invested capital (ROIC) and R&D investment intensity. In addition we People's Republic of China and the Regulations on Fair Competition Review. The Company has established a comprehensive full-coverage

innovatively incorporate high-quality development indicators such as capital market performance and ESG framework progress striving to compliance management system based on the CMET Compliance Management Regulations and the CMET Code of Conduct with integrity

balance short-term performance growth with long-term value creation. In 2025 the total pre-tax compensation received by the CEO from the supervision and integrity behavior norms as core elements which clearly set forth specific requirements including those for anti-money

Company amounted to RMB 1.7 million with a CEO-to-employee compensation ratio of 7.00. laundering1.The Company has established a clawback and deduction mechanism for management team performance bonuses. In accordance with the As of the end of the Reporting Period the Company had not experienced any non-compliance incidents related to conflicts of interest money

Implementation Rules for Salary Deduction of CMET Headquarters Employees Subject to Party or Administrative Disciplinary Punishment laundering or insider trading.(Trial) annual performance reviews are regularly conducted for the CEO and other management personnel. In cases of major decision-

making errors or violations the Company will initiate procedures for salary deduction and recovery of historical bonuses pursuant to the

aforementioned rules pursuing clawbacks of annual performance salaries and long-term performance incentives thereby achieving closed- 关键绩效 Key performance highlights

loop management with aligned rights and responsibilities.开展各类合规培训近200场合规培训覆盖率100%

Nearly 200 compliance training sessions 100% compliance training coverage

截至2025年12月，公司未发生腐败与贿赂、歧视或骚扰、客户隐私数据泄露、利益冲突、洗钱、内幕交易及其他重大合规风险事件。

As of December 2025 the Company experienced no incidents of corruption or bribery discrimination or harassment data

breaches of customer privacy conflicts of interest money laundering insider trading or other material compliance risk

events招商公路阳平高速同乐段

CMET Yangshuo-Pingle Expressway (Tongle Section) ※ 注释：

1.因《招商公路行为准则》中涵盖反洗钱政策全部要求，不再单独制定反洗钱政策。具体内容请见《招商公路行为准则》内文。

※ Note:

1.As the CMET Code of Conduct contains all anti-money laundering policy requirements no separate anti-money laundering policy is

formulated. For details please refer to the CMET Code of Conduct.

4445招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025

合规管理体系 Compliance management system

决策层：董事会审计委员会作为合规管理的决策机构，负责审核公司合规战略与规划、作决策、防风险； Specialized training for compliance officers is organized focusing on key areas such as investment management procurement processesand data security continuously enhancing business management refinement and strengthening cross-departmental coordination and

Decision-making level: The Audit Committee under the Board serves as the decision-making body for compliance management

communication;

responsible for reviewing the Company's compliance strategy and roadmap making decisions and preventing risks;

The overall capabilities of compliance officers are continuously enhanced through practical experience including identifying and resolving

issues preventing and mitigating risks.管理层：风险管理委员会（合规委员会）统筹协调合规管理工作，定期召开工作会议，研究解决重点问题；经理层谋经营、抓落实、强管理，推进合规要求的落地实施；

Management level: The Risk Management Committee (Compliance Committee) coordinates compliance management efforts

convenes regular working meetings studies and resolves key issues. Meanwhile the Management Team focuses on strategic operations 合规工作流程 Compliance work framework

effective implementation and robust management to advance the fulfillment of compliance requirements;

将合规要求深度嵌入关键业务流程。在投资项目决策、招标采购、合同签订、收费运营、财务报告、数据安全、安全生产等环节，设置合规审查节点；

执行层：各单位业务及职能部门作为合规管理的主体责任人，确保本部门经营管理活动的合法合规性。

建立合规监测与报告渠道，包括常规报告、专项检查、举报热线/邮箱等。对发现的合规疑虑或违规事件，按照既定程序及时进行调查、分析与评估。确认违规的，依据规定进行处置与责任追究，并分析根源，推动整改，防止问题复发；

Execution level: Business and functional departments of each unit serve as the primary responsible parties for compliance

management ensuring the legal and regulatory compliance of their operational activities. 定期对合规管理体系的运行有效性进行评审与审计，将合规职责履行情况纳入相关部门及人员的绩效考核，强化合规约束力；

确保合规管理相关信息的有效内外部沟通与报告，确保合规管理工作可追溯、可验证。

Compliance requirements are deeply integrated into key business processes. Compliance review checkpoints are established in areas

including investment project decision-making procurement bidding contract signing toll operations financial reporting data security

and safety production;

合规文化建设 Compliance culture building

Compliance monitoring and reporting channels are established including routine reporting special inspections and reporting hotlines

面向全员举办专题讲座、开展普法宣传、推出系列课程等多元化创新形式，积极营造全员合规文化氛围，为公司健康、可持续发展奠 and emails. Compliance concerns or violations discovered are promptly investigated analyzed and assessed according to established定坚实基础； procedures. Confirmed violations are subject to disposition and accountability in accordance with regulations with root cause analysis

conducted to take corrective actions and prevent recurrence;

针对各单位业务及职能部门作为合规管理的主体责任人，公司围绕投资管理、采购流程、数据安全等重点领域组织专项培训，不断提升业务管理精细化水平，强化跨部门协调与沟通效能； The operational effectiveness of the compliance management system is regularly reviewed and audited incorporating complianceperformance into the performance assessments of relevant departments and personnel to strengthen compliance accountability;

针对风险管理委员会（合规委员会），通过实践锻炼，持续提升整体能力，包括识别与解决问题、防范化解风险等。

Effective internal and external communication and reporting of compliance-related information are ensured guaranteeing traceability and

A culture of compliance among all employees is fostered through diverse and innovative formats including thematic lectures legal verifiability of compliance management efforts.awareness campaigns and series course laying a solid foundation for the Company's healthy and sustainable development;

4647招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025反商业贿赂与反贪污

ANTI-COMMERCIAL BRIBERY AND ANTI-CORRUPTION

招商公路制定《招商公路反贿赂与反腐败政策》，坚持全覆盖原则，将廉洁教育贯穿于从董事会成员到基层员工的各个层级，在业务管控层面，公司严格执行合同法律审核制度，确保关键环节风险防控到位。在年度内审计划中，将信访举报、监定期组织反商业贿赂、反贪污等专题培训，强化全体员工的合规意识，同时公司积极推动供应商及合作伙伴认可招商公督检查中重点事项列为审计项，通过内审监督、检查违规违纪问题，并形成内部审计报告与整改报告。

路相关要求，并作为合规底线纳入合作的前置条件中。

开展面向全体员工 1 的廉洁文化活动，通过寄送廉洁家书、创作 AI 廉洁海报、廉洁主题征文、读书品廉阅读分享会等活We have formulated the CMET Anti-Bribery and Anti-Corruption Policy adhering to the principle of full coverage and integrating integrity

education across all levels from Board members to grassroots employees. The Company regularly organizes specialized training on anti- 动，持续营造风清气正的干事创业氛围。同时，坚持正面引导与反面警示相结合，通过召开警示教育大会、剖析典型案例、commercial bribery and anti-corruption strengthening compliance awareness of all employees. Meanwhile we actively promote the 组织观看警示教育片等方式，持续强化全员纪律意识和规矩意识。

recognition of CMET's relevant requirements by suppliers and partners incorporating them as compliance bottom lines into the prerequisites

for cooperation. At the business control level CMET strictly implements the contract legal review system to ensure risk prevention and control in key areas. In

the annual internal audit plan matters of significance identified through petitioning reports and supervision inspections are listed as audit

items. Violations of disciplinary rules and regulations are examined through internal audit supervision and inspection with internal audit

reports and rectification reports subsequently prepared.关键绩效 Key performance highlights CMET organizes integrity culture activities targeting all employees

1 and fosters a clean and upright atmosphere conducive to

entrepreneurship and dedication through initiatives such as sending integrity letters to employees' families creating AI-generated integrity

posters organizing integrity-themed essay competitions and hosting integrity reading and sharing sessions. Meanwhile the Company

combines positive guidance with negative warnings continuously strengthening employees' awareness of discipline and rules by holding

100 100 disciplinary education conferences analysis of typical cases and viewings of disciplinary education videos.商务合同审核率 % 反商业贿赂及反贪污培训覆盖的董事比例 %

100% commercial contract review rate 100% anti-commercial bribery and anti-corruption training 反腐败举报渠道 Anti-corruption whistleblowing channels

coverage for directors

100 0 举报邮箱：zsgljw@cmhk.com 举报地址：北京市朝阳区北土城东路 9 号院 1 号楼华丰大厦反商业贿赂及反贪污培训覆盖的员工比例 % 发生商业贿赂及贪污的事件数量 件 Email: zsgljw@cmhk.com Address: Huafeng Plaza Building No. 1 Yard No. 9 Beitucheng East

Road Chaoyang District Beijing

100% anti-commercial bribery and anti-corruption training 0 incident of commercial br iber y and

coverage for employees corruption

※注释：

1.公司面向全职员工、非全职员工及非正式员工（劳务派遣人员）提供反腐败及商业道德培训，鼓励全体员工参加。

※ Note:

1.The Company provides anti-corruption and business ethics training to full-time employees part-time employees and non-standard

employees (dispatched workers) encouraging the participation of all employees.招商中铁垫忠高速杨家岭特大桥

CMCR Zhongxian-Dianjiang Expressway Yangjialing Super Large Bridge

4849招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025反不正当竞争风险管理与内部控制

ANTI-UNFAIR COMPETITION

公司严格遵守《反不正当竞争法》，坚决抵制任何形式的商业贿赂、洗钱、垄断、不正当竞争行为，制定《招商公路反 RISK MANAGEMENT AND INTERNAL CONTROL垄断合规管理办法》，在《招商公路行为准则》中明确规定公司禁止以任何方式达成垄断协议，禁止滥用市场支配地位，禁止限制客户或经销商自主决定销售价格与交易条件。招商公路构建了自上而下、贯穿各层级的垂直风险管理架构，对战略风险、运营风险、市场风险、财务风险、法律与合规风险以及廉洁风险实施全覆盖管理，并将可持续发展相关风险纳入公司风险管理流程中。

公司坚持独立地向客户提供服务，在有需要时充分配合反垄断执法机构的调查。公司在实施合并、资产购买等可能影响市场竞争的行为时，始终秉持诚信、透明的原则，严格遵循市场竞争法规。截至报告期末，公司未涉及任何不正当竞争公司每年定期组织风险识别与评估，形成年度风险清单并绘制风险地图。同时，公司每年开展内外结合的风险专项审计，或垄断行为相关的司法诉讼程序或重大行政处罚事件。为风险管理体系与内部控制制度的持续完善提供重要依据与前瞻性警示；编制《招商公路经营管理事项内控权限清单》，涵盖3585项核心业务管理流程，明确各流程审批节点；总部及所属公司内控自评价率达100%。

CMET strictly complies with the Anti-Unfair Competition Law of the People's Republic of China and resolutely opposes any form of

commercial bribery money laundering monopolistic practices and unfair competition. The Company has formulated the CMET Anti-

Monopoly Compliance Management Measures and clearly stipulated in the CMET Code of Conduct that the Company prohibits in any form CMET has established a top-down multi-tier vertical risk management architecture with full coverage of strategic risk operational risk market

reaching monopoly agreements abusing market dominance or restricting customers or distributors from independently determining sales risk financial risk legal and compliance risk and integrity risk. Sustainability-ranked risks have also been integrated into the Company's risk

prices and transaction conditions. management process.CMET independently provides services to customers and fully cooperates with investigations by anti-monopoly enforcement authorities CMET conducts regular annual risk identification and assessment formulates an annual risk register and develops a risk map. Meanwhile

as required. When implementing concentrations that may affect market competition such as mergers or asset acquisitions the Company the Company carries out internal and external special risk audits every year providing an important basis and forward-looking warnings

consistently upholds the principles of integrity and transparency strictly adhering to market competition laws and regulations. As of the end for the continuous improvement of the risk management system and internal control system. We have formulated the CMET Inventory of

of the Reporting Period CMET was not involved in any judicial proceedings or material administrative penalties related to unfair competition Internal Control Approval Authority for Operation and Management Matters covering 3585 core business management processes with clear

or monopolistic practices. approval nodes for each process. The internal control self-evaluation rate of the headquarters and its subsidiaries has achieved 100%.举报人保护机制风险管理三道防线

WHISTLEBLOWER PROTECTION MECHANISM THREE LINES OF DEFENSE IN RISK MANAGEMENT

为建立并维护公开、透明、诚信的商业环境，保障所有与公司相关方能够安全、无顾虑地报告任何可疑不当行为，招商公司明确风险管理责任与任务，保证公司风险可控。

公路建立严谨、独立且注重保护的举报人保护机制，并制定《招商公路举报人保护政策》1 ，确保每一起举报都能得到依 The Company clearly defines risk management responsibilities and tasks to ensure risks are under control.规依纪处置，坚定维护举报人的合法权益。同时，公司在合规培训中明确举报流程，鼓励依法合规反映问题，并将持续完善相关宣导工作，筑牢合规运营基础。 第一道防线 First line of defenseTo establish and maintain an open transparent and trustworthy business environment and ensure that all parties related to CMET can 业务部门、业务单元负责风险管理与内部控制的建设、实施、维护工作

report suspected misconduct safely and without concern the Company has established a rigorous independent and protection-focused Business departments and business units are responsible for the establishment implementation and maintenance of risk management

and internal control

whistleblower protection mechanism and formulated the CMET Whistleblower Protection Policy1 ensuring that every report is handled

in accordance with relevant regulations and disciplinary rules firmly safeguarding the legitimate rights and interests of whistleblowers. 第二道防线 Second line of defense

Meanwhile we clearly communicate reporting procedures in compliance training encourage lawful and compliant reporting of issues and 风险管理领导机构、职能部门负责制定控制标准并监督执行情况

will continuously improve related communication efforts to solidify the foundation for compliant operations.Leading organizations for risk management and functional departments formulate control standards and supervise their implementation

※ 注释： 第三道防线 Third line of defense

1.《招商公路举报人保护政策》已于官网公布。管理层、审计委员会独立地对公司运营管理进行监督、评价和审计，确保对各种风险的客观监测和控制

※ Note: The Management Team and Audit Committee independently supervise evaluate and audit the Company's operation and management

thereby ensuring objective monitoring and control of all types of risks

1.The CMET Whistleblower Protection Policy has been published on the official website.

5051招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025风险治理架构内部控制

RISK GOVERNANCE FRAMEWORK INTERNAL CONTROL

招商公路董事会对风险管理负最高责任，并积极推动高级管理层落实风险管理战略方向，监督风险管理的有效实施与执行。公司构建了“总部统筹、上下协同”的内控管理工作机制，以总部为核心、所属公司协调联动。依据国务院国资委及上级集团公司的管理要求，并结合高速公路运营业务的实际情况，建立健全覆盖对外投资、招标采购、工程管理等关键领The Board of CMET bears the ultimate responsibility for risk management actively urges the senior management team to implement the

strategic direction of risk management and supervises its effective implementation and execution. 域与重点环节的制度，并定期对风险管理、合规管理等重要环节实施独立的内部审计。

公司每年聘请外部专业审计机构对年度财务报表及相关内部控制流程进行审计，确保财务信息真实可靠、内控执行有效。

CMET has established an internal control management mechanism featuring “headquarters coordination and vertical collaboration” with

对公司风险和内控工作的有效性负责。审核规划、审批报告与策略方案、监督和评价体系运 the headquarters as the core and subsidiaries working collaboratively. In accordance with the management requirements of the SASAC and董事会下设

审计委员会 行结果、构建风控体系等。 CMG and combined with the actual conditions of expressway operation the Company has improved systems covering key areas and criticalstages such as foreign investment bidding and procurement and project management with regular independent internal audits of key

Audit Committee Takes responsibility for the effectiveness of the Company's risk and internal control systems stages including risk management and compliance management.under the Board reviews plans approves reports and strategic proposals supervises and evaluates system

operation and oversees the development of risk control system. Every year the Company engages external professional audit institutions to audit the annual financial statements and relevant internal

control processes ensuring the authenticity and reliability of financial information and the effective implementation of internal controls.执行风险管理与内部控制工作。审议风险管理战略和政策，构建工作机制，审议专项报告和风险管理

方案、审议制度文件、监督执行情况等。 风险管理 Risk management委员会Risk Management Implements risk management and internal control deliberates risk management strategies and

Committee policies establishes working mechanisms reviews special reports and proposals examines 风险流程：建立贯穿识别、评估、管控与优化的闭环风险管理流程，每年系统识别战略、运营等关键风险，并对可能性和影响institutional documents and supervises implementation. 量化评估，明确风险评估来源、风险趋势及影响因素分析研判、重点监测指标及预警阈值、风险应对计划等。

Process: A closed-loop risk management process covering identification assessment control and optimization is established. Each

year the Company systematically identifies key risks including strategic and operational risks conducts quantitative assessment of

their likelihood and impact and clarifies risk assessment sources analysis and judgment of risk trends and influencing factors key

monitoring indicators and early-warning thresholds as well as risk response plans.履行其日常管理职责，风险管理部牵头负责具体执行。落实战略、政策，推进内部流程，制风险管理委

员会办公室定年度工作计划、编制专项报告、开展具体工作等。风险评估频率：每年度动态评估、更新公司十大风险，并根据评估情况生成风险报告。

Office of the Risk Performs daily management functions with the Risk Management Department taking the lead in Assessment frequency: The Company's top ten risks are dynamically evaluated and updated annually with risk reports generated

Management specific execution implements strategies and policies advances internal processes formulates based on the assessment results.Committee annual work plans compiles special reports and conducts specific operations.风险流程审计：由审计委员会监督，开展年度风险报告审查。风险状况及管理成效通过定期监控与报告机制，持续向管理层和董事会汇报，确保风险管理的动态适应与持续改进。

Process audit: Supervised by the Audit Committee annual reviews of risk reports are conducted. Risk profiles and management公司总部各职能

部门与所属公司专 总部各职能体系负责审批、监控所属公司的工作开展情况，建立工作计划、组织协调工作并 effectiveness are continuously reported to the Management Team and the Board through regular monitoring and reporting（兼）职风控人员 监督进展等，所属公司专（兼）职风控人员负责风险管理任务落地。 mechanisms ensuring dynamic adaptation and continuous improvement of risk management.Full-time and part-

time risk management Functional departments at the headquarters are responsible for approving and supervising 风险文化：开展风险管理文化宣传、专业培训等，提升全体员工的风险意识。

personnel at functional the work of subsidiaries formulating work plans coordinating and supervising progress.departments of CMET Culture: The Company conducts risk management culture promotion and professional training to enhance risk awareness among all

headquarters and its Full-time and part-time risk management personnel at subsidiaries are responsible for the employees.subsidiaries implementation of risk management tasks.

5253招商公路通达天下发展高质量2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Connecting the World: Pursuing High-quality Development Sustainability Report 2025年度风险排查结果

ANNUAL RISK ASSESSMENT RESULTS

公司每年度开展风险识别，并形成《招商公路 2025 年前十大风险评估结果》1，明确风险来源、风险分类、风险趋势及 The Company conducts risk identification annually and has formulated the Top 10 Risk Assessment Results of China Merchants Expressway影响因素分析研判、重点监测指标及预警阈值、风险应对计划等，明确相应风险对业务、战略及商业模式的影响。 for 2025 clarifying risk sources risk categories risk trends analysis of influencing factors key monitoring indicators warning thresholds andrisk response plans as well as clarifying the impact of corresponding risks on business strategy and business models.风险管理委员会负责及时制止、纠正不合规的经营行为，并按照公司违规问责规定对有关违规人员进行责任追究或提出 The Risk Management Committee is responsible for promptly stopping and correcting non-compliant business practices and pursuingaccountability or proposing disciplinary recommendations for relevant violators in accordance with the Company's violation accountability处理建议。 regulations.招商公路风险评估结果（节选） CMET RISK ASSESSMENT RESULTS (EXCERPT)

风险名称 风险分类 风险描述 影响评估指标 风险应对计划 Risk Category Description Impact assessment indicator Risk response plan

常规风险 Conventional risk

1. 建立安全准入审查机制， 1. Establish a safety qualification

对施工单位的安全准入审查、过程监管、 明确审查标准与流程。 review mechanism with clear review When safety qualification review process supervision Monitor the amount standards and procedures.教育培训不到位时，可能会出现因意识欠 监 测 生 产 安 全 2. 加强施工过程监管，定期、 safety education and training for construction units are Safety production Operational of losses from 2. Strengthen construction process安全生产保障风险 运营风险 inadequate safety accidents may occur due to lack of

缺导致的安全事故，给公司带来经济与名 事故损失金额。 不定期开展安全现场监督检 assurance risk risk production safety supervision and conduct regular safety awareness causing economic and reputationalaccidents. and irregular safety on-site誉损失。 查。 losses to the Company. inspections.

3. 开展必要的安全培训。 3. Conduct necessary safety training.

新兴风险 Emerging risk

With the evolution of expressway toll policies and

高速公路收费政策逐年演进，高速公路行 Track industry policy changes跟踪行业政策变化，结合内 the increasingly prominent public welfare nature of行业政策应对不及 业公益性特质日益突出，公司作为央企控 Risk of delayed continue deepening corporate the expressway industry the Company as a central政策风险 ｜ 外部发展环境变化，继续深 response to Policy risk ｜ strategy research in light of changes时风险 股上市公司，经营受政策影响明显，需及 enterprise-controlled listed company is significantly industry policy in internal and external development化公司战略研究。 affected by policies in its operations and needs to timely时调整经营策略。 environments.adjust business strategies.运营公司未按照法律、法规、规章、国家 1. 建立完善的巡查机制，结 If operating companies fail to conduct road patrols 1.Establish a comprehensive patrol标准、行业标准或者地方标准等开展道路 合最新要求，对巡查制度进 in accordance with laws regulations rules national mechanism refining and improvingRisk of change standards industry standards or local standards resulting patrol systems in line with the latest

高速公路清障管理巡查，致使未能及时清理路面掉落、遗洒行细化和完善。

行业风险 ｜ on expressway in failure to timely clear fallen spilled or scattered requirements. Industry risk ｜

要求变动风险 或者飘散物，或尽到有关防护、警示等义务， 2. 规范巡查记录表。 clearance objects on the road surface or fulfill relevant protection 2. Standardize patrol record forms.management and warning obligations it may cause traffic accidents 3. Strengthen legal risk prevention

可能引发交通事故，导致公司面临民事索 3. 做好法律风险防范与应对， leading the Company to face civil claims legal disputes and response to avoid negative偿法律纠纷，也可能对路产造成重大损失。 避免因纠纷带来负面影响。 and potentially causing significant losses to road assets. impacts from disputes.※ 注释： ※ Note:

1. 我们重视排查公司运营过程中的各类风险点，并形成年度风险清单，受限于篇幅及报告严谨性，本部分仅展示归纳整理后的部分风险内容；同 1.We attach importance to identifying various risk points in the Company's operations and form an annual risk list. Due to space limitations时，我们重视应对气候变化等环境相关风险，并在报告对应章节进行详细披露。 and report rigor this section only presents summarized partial risk content. Meanwhile we prioritize climate change response and otherenvironment-related risks which are disclosed in detail in the corresponding sections of this Report.

5455招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025

向新而行0招商公路立足公路运营业务，将科技创交通更智慧2新全面融入路网规划、安全保障、运营管理、服务升级等运营环节，提升路网运行效率与服务品质，打造智慧出行综ADVANCING WITH INNOVATION 合解决方案及协同生态。

BUILDING SMARTER

TRANSPORTATION

Rooted in the expressway operations CMET fully

智慧公路建设 58 integrates Sci-Tech innovation into operational

a s p e cts i n c l u d i n g roa d n et w o r k p l a n n i n g

Smart Expressway Development

safety assurance operation management and

公路品质与运营安全 66 service enhancement improving road network

Expressway Quality and Operational Safety operational efficiency and service quality and

creating integrated smart mobility solutions and a

数据安全与客户隐私保护 74 collaborative ecosystem.Data Security and Customer Privacy Protection招商公路鄂东大桥

CMET Edong Bridge

5657招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025智慧公路建设战略

STRATEGY

SMART EXPRESSWAY DEVELOPMENT

招商公路聚焦《交通强国建设纲要》，对标集团数字化和创新专项战略，制定《招商公路“十五五”数智化战略规划》1，招商公路以分层分级的科学治理体系为支撑，兼顾技术创新与场景落地，明确智慧公路建设战略及目标，稳步推动智慧以“一体、智慧、绿色”为重要发展方向，助力构建“安全、智慧、绿色”的综合立体交通网络。

公路建设迭代升级。

Focusing on the Outline for Building China into a Country with Strong Transportation Network and aligning with CMG's special strategies

Supported by a tiered and categorized scientific governance system CMET balances technological innovation with practical application for digitalization and innovation the Company has formulated the CMET "15th Five-Year Plan" Digital and Intelligent Strategic Plan1 taking

defines its smart expressway development strategy and objectives and steadily promotes the iterative upgrade of smart expressway "integration intelligence and green development" as key development directions to help build a "safe smart and green" comprehensive

development. three-dimensional transportation network.治理影响类型风险与机遇描述影响周期2应对举措

Impact type Risk and opportunity description Impact duration2 Response measures

GOVERNANCE

技术体系滞后及业务长线支撑不足时，通构建科技创新管理体系，引育科研团队并公司构建“决策—管理—执行”架构，推动公司数智化转型。行效率与服务质量难以提升，将导致战略设立专项激励机制，深化与科研机构、高The Company has established a "decision making - management - execution" framework to drive the digital and intelligent transformation. 转型受阻与市场份额缩减的连锁反应。 等院校协同，提升数智化核心竞争力。

When the technology system lags and Establish a sci-tech innovation management

决策机构：信息化工作领导（督导）小组 Decision-making body: Informatization Leadership (Supervision) Group 风险 sustained business support is insufficient system cultivate and attract research it becomes difficult to improve traffic 中长期 teams set up special incentive mechanisms

Risk efficiency and service quality triggering Medium to d e e p e n co l l a b o rat i o n w i t h re s ea rc h

指导制定公司数智化发展规划、设定数智化发展目标、健全数智化机制制度，监督数智化重大事项的实施，推动 a chain reaction of obstructed strategic long term institutions and universities and enhance transformation and reduced market share. co re co m p et i t i v e n e s s i n d i g i ta l a n d数智化工作全面赋能公司“十五五”战略规划的有效落实。 intelligent transformation.Guides the formulation of the Company's digital and intelligent development plan sets digital and intelligent development

goals improves digital and intelligent mechanisms and systems oversees the implementation of major digital and intelligent 应用数智化技术快速发展，通过整合生态 1. 加大智慧公路建设投入，打造行业标杆transformation initiatives and facilitates related work to fully empower the effective execution of the Company's 15th Five-Year 资源、携手优质伙伴创新商业模式、培育 项目，提升品牌影响力。

Strategic Plan. 智慧交通新业态，可加速实现公路智慧化、网联化服务目标，提升公司声誉，扩大市2.构建产业合作平台，组织行业交流活动，管理机构：战略发展部 Management body: Strategic Development Department 场份额。 深化产业链协同创新。

By leveraging the rapid development 1.Increase investment in smart expressway

统筹落实数智化工作部署，组织公司总部各部门、各所属公司开展数智化建设、运维、管理，组织公司数智化检查、 机遇 of digital and intelligent technologies 中长期 development create industry benchmark考核、评价，统筹公司数据管理工作。 Opportunityintegrating ecological resources innovating Medium to projects and enhance brand influence.business models with quality partners long term

and cultivating new smart transportation 2.Build an industrial cooperation platform

Coordinates the implementation of digital and intelligent transformation initiatives organizes headquarters departments and formats the Company can accelerate the organize industry exchange activities and

subsidiaries to carry out related work including development operations maintenance and management conducts related achievement of its goals for smart and deepen collaborative innovation across the

inspections assessments and evaluations and oversees the Company's data management. connected expressway services thereby industry chain.enhancing its reputation and expanding

market share.执行机构：各部门、各所属公司 Execution bodies: All departments and subsidiaries

※注释：

落实公司数智化规划、制度，建设生产、经营数智化系统，建立专业化数据集、知识库，接受数智化管理部门的1.《招商公路“十五五”数智化战略规划》详细内容请见本报告“专题：数智驱动发展，智慧赋能未来”章节。

2.根据业务开展模式，风险与机遇清单中定义时间范围短期为1—3年（含三年）；中期为3—5年（含5年）；长期为5年以上。

监督检查。

※ Notes:

Implement the Company's digital and intelligent plans and systems build production and operation digital and intelligent systems 1.For details of the CMET "15th Five-Year Plan" Digital and Intelligent Strategic Plan please refer to the "Special Feature: Digital Intelligence

establish professional data sets and knowledge bases and undergo supervision and inspection from the Digital and Intelligent Driving Development Smart Innovation Empowering Future" section of this Report.Management Department.

2.Based on business operation models the time frame in the risk and opportunity list is defined as short term (1-3 years including 3 years)

medium term (3-5 years including 5 years) and long term (over 5 years).

5859招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025

影响、风险和机遇管理科技创新

IMPACT RISK AND OPPORTUNITY MANAGEMENT Sci-tech innovation

公司建立动态风险图谱与分级响应机制，编制《招商局公路网络科技控股股份有限公司风险评估管理细则》《招商局公招商公路制定并发布《招商公路科技创新管理制度》《招商公路研究总院管理办法》《招商公路科技自主创新项目管理办法》路网络科技控股股份有限公司风险管理办法》等制度文件，明确风险识别、评估、应对、监控全流程标准，防范化解风险，等管理制度，推进科技创新工作顺利展开。在创新组织模式上，搭建以公司为决策主体，以战略发展部（创新业务部）把握发展机遇。为管理主体，以创新研究院为执行主体，以招商公路总部各部门、所属公司为实施主体，及外部合作机构构成的科技创新体系。推动产学研合作，与科研机构、高校合作开展前沿技术创新；搭建产业合作平台，组织行业交流活动，促进产CMET has established a dynamic risk profile and a graded response mechanism and formulated institutional documents such as the CMET

Risk Assessment Management Rules and the CMET Risk Management Measures clarifying the entire process standards for risk identification 业链协同创新。

assessment response and monitoring to prevent and resolve risks and seize development opportunities.公司制定《招商公路知识产权管理规定》，明确对商标权、著作权、专利权、技术秘密、商业秘密等知识产权保护的适用范围和工作机制。围绕安全智慧方向，布局“道路‘全域'低空巡检与数字化管控技术”“公路隧道智能巡检机器人”风险评估工作流程研发项目，加快形成一批市场前景广、技术含金量高、盈利性强的科技成果。

Risk assessment workflow

在人才队伍建设方面，公司开展智慧公路技术培训，培养员工新兴技术应用能力；鼓励员工开展创新项目，设置科技成*结合智慧公路运营中的车路协同系统稳定性、智能养护、应急联动等机制进行风果转化特别奖激发创新活力，强化高端人才引进与领军人才梯队建设，让人才优势推动技术创新与产业升级。

险识别，编制形成风险项。

CMET has formulated and released several management policies including the CMET Management Policy on Sci-Tech Innovation CMET

* Conduct risk identification based on mechanisms such as cooperative vehicle-infrastructure

识别 Management Measures for the Central Research Institute and CMET Management Measures for Independent Sci-Tech Innovation Projects systems (CVIS) smart maintenance and emergency collaboration in smart expressway

to facilitate the smooth progression of Sci-Tech innovation work. In terms of innovative organizational models we have established a sci-

Identification operations and compile a list of risk items.tech innovation system comprising the Company as the decision-making body the Strategic Development Department (Innovation Business

Department) as the management body the Innovation Institute as the execution body and headquarters departments and subsidiaries

as the implementation bodies along with external partner organizations. While promoting industry-university-research collaboration by

* 从风险评估调查的目标、风险事件的来源及影响进行综合评估。 advancing cutting-edge technological innovation with research institutions and universities we have built an industrial cooperation platformand organized industry exchange activities to foster collaborative innovation across the industry chain.* Conduct comprehensive assessment based on the objectives of the risk assessment survey

筛选评估 the sources of risk events and their impacts. CMET has formulated the CMET Regulations on Intellectual Property Management clarifying the scope of application and working

Screening and assessment mechanisms for the protection of intellectual property rights including trademarks copyrights patents technical secrets and trade secrets.Focusing on safety and intelligence the Company has deployed R&D projects such as Road "Full-domain" Low-altitude Patrol and Digital

Control Technology and Expressway Tunnel Intelligent Patrol Robot accelerating the development of a batch of Sci-Tech achievements with

broad market prospects high technical content and strong profitability.*将评估完成的风险项纳入公司年度风险清单，并制定应对策略，明确责任部门。

In terms of talent team building the Company conducts smart expressway technology training to cultivate employees' capabilities in applying

* Incorporate the assessed risk items into the Company's annual risk register formulate emerging technologies. We encourage employees to undertake innovation projects establish a special award for the commercialization of

形成年度核心风险清单 response strategies and clarify responsible departments. sci-tech achievements to stimulate innovation vitality and strengthen the introduction of high-end talents and the cultivation of leading

Formulation of annual core risk register talent echelons leveraging talent advantages to drive technological innovation and industrial upgrading.*各单位根据评估结果和实际经营变化情况，更新风险管理及内部控制相关制度成果，并报公司风险管理部备案。

*风险管理委员会编制相应风险应对计划，各单位跟踪与落实风险应对计划。

* Based on assessment results and actual operational changes each unit updates institutional

制定应对计划 deliverables related to risk management and internal control and reports them to the

Formulation of response plans Company's Risk Management Department for filing.* The Risk Management Committee prepares corresponding risk response plans and each unit 招商公路渝黔高速

tracks and implements the risk response plans. CMET Chongqing-Guizhou Expressway

6061招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025智慧协同

Smart synergy荣誉奖项

Honors and

awards 公司布局智慧运营、智慧收费、智慧安全、智慧建设管理、智能交通系统等领域，形成全方位数智化解决方案，招路通平台成功构建“数字招商公路”，智慧收费站成果实现5省推广，自由流落地突破300路段，技术应用实现广泛覆盖。

The Company has made strategic deployments in areas across sectors including smart operations smart toll collection smart safety smart

construction management and intelligent transportation systems forming a comprehensive digital and intelligent solution portfolio.Through Highway Operation Platform & Environment (HOPE) platform a "digital CMET" has been successfully established with smart toll

station solutions deployed across five provinces free-flow technology implemented in over 300 road sections and technological applications

widely adopted in various scenarios.京津塘高速打造智慧高速标杆案例

Beijing-Tianjin-Tanggu Expressway builds a smart expressway benchmark CASE

在2025年第二十届中国智能交通大会科学技术奖颁奖典礼上，由招商新智、京津塘高榆神高速发明“一种风京津塘高速作为京津冀物流“黄金通道”，依托改扩建工程，融合人工智能、绿色低碳、精益管理等技术，以“云上速共同参与的《智能网联汽车智驱场景系统构建关键技术及应用》项目获得科技进步奖积沙冲沟区桥梁泄水管一等奖；由招商新智所属招商华软作为第一完成单位，联合九瑞高速等单位共同完成的公路、零碳公路、人文公路”为目标，努力打造成为国内首条跨省市零碳绿色的车路协同先导示范路。道构造及安装费方法”，《面向 ETC 自由流和记账支付创新收费场景的成套技术与应用》项目获得科技进步奖

并取得发明专利证书。 As a "golden corridor" for logistics in the Beijing-Tianjin-Hebei region the Beijing-Tianjin-Tanggu Expressway leveraging its renovation and三等奖。 expansion project integrates technologies such as artificial intelligence green and low-carbon solutions and lean management. With the goalsAt the Science and Technology AwardsCeremony of the 20th ITS China Congressin 2025 the of becoming a "cloud-based expressway zero-carbon expressway and human-centered expressway" it strives to become China's first cross-The "bridge culvert drainage

project Key Technology andApplication of Intelligent Driving ScenarioSystem Construction for pipe structure and installa- provincial zero-carbon green vehicle-road collaboration pilot demonstration road.Intelligent andConnected Vehicles co-developed by ChinaMerchants New Intelligence Technolo- tion method for wind-blown

gyCo. Ltd. and Beijing-Tianjin-Tanggu Expresswaywas awarded First Prize of Scientificand Tech- sand gully areas" invented

nological Progress Awards；the project Complete Technologyand Application for Innovative Toll by Yushen Expressway ob-

CollectionScenarios Oriented to ETC Free-flowand Account-based Payment completedby China tained an invention patent

Merchants Huaruan InformationCo. Ltd. under China Merchants NewIntelligence Technology Co. certificate.Ltd. as theprimary completing unit in collaborationwith Jiurui Expressway and other unitswas

awarded Third Prize of Scientific andTechnological Progress Awards.招商公路以无人机智慧巡检及物流服务赋能交通新智生产力案例

CMET empowers new quality productive forces in transportation with intelligent UAV patrol and logistics services CASE

招商公路将无人机技术与“一路多方”协同指挥平台深度集合，依托“一键起飞”、智能任务规划与“一键派送”功能，开展应急指挥调度、低空物流配送、道路智能巡检，降低人工依赖，提高响应效率，实现“公路+低空经济”创新发展。

案例在“2025福布斯中国低空经济产业系列评选”中荣获“创新场景”奖，成为中国高速公路场景中唯一获奖项目。

CMET deeply integrates UAV technology with the Multi-Party Collaboration for One Expressway collaborative command and dispatch platform

and leverages functions such as "one-click takeoff" intelligent task planning and "one-click delivery" to carry out emergency command and

dispatch low-altitude logistics delivery and intelligent road patrols reducing manual dependence improving response efficiency and achieving

innovative development in the "expressway + low-altitude economy". This case received the Innovation Scenario Award in the 2025 Forbes

China Low-altitude Economy Industry Series Selection making it the only award-winning project in the Chinese expressway scenario. 京津塘高速路段

A section of Beijing-Tianjin-Tanggu Expressway

6263招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025

建设智慧公路，提升数智化服务品质指标和目标Building smart expressways to enhance digital and intelligent service quality INDICATORS AND TARGETS

招路通3.0依靠数据整合、运行监测与辅助决策，提升数智化运营能力。公司制定清晰可衡量的数据指标及提升智慧高速覆盖率的阶段性目标，明确智慧公路建设量化标准，保障智慧公路建设智慧运营HOPE 3.0 enhances digital and intelligent operation capabilities through data integration 工作高效有序开展 。

Smart operations

operational monitoring and decision support.The Company has established clear and measurable data indicators and progressive targets for increasing smart expressway coverage

defining quantitative standards for smart expressway development and ensuring the efficient and orderly implementation of smart

研发并推出收费智能体“智慧收费机器人”“匝道自由流预交易系统”打造智慧收费站的整 expressway development2.智慧收费 体解决方案——招商 E 站。

Smart toll collection The toll collection agent "smart toll robot" and the "ramp free-flow pre-tolling system" have been

researched and launched creating an overall smart toll station solution named CMET E-Station.指标名称单位

Indicator Unit 2025 2024 2023

开展恶劣天气安全通行关键技术研究与示范应用研究、“一路三方”协同指挥调度平台研究。

智慧安全协同

Research on key technologies for safe passage under adverse weather conditions and their 研发投入金额 万元

Smart safety demonstration applications is conducted as well as research on the Three-Party Collaboration for R&D investment amount RMB 10000 33422.90 32484.23 39730.76

collaboration

One Expressway collaborative command and dispatch platform.研发投入金额占主营业务收入比例

Proportion of R&D investment in core % 2.50 2.56 4.08

business revenue

智慧建设管理依托“京津塘高速公路改扩建工程建设数智化管理平台”，目标实现智能管理。

研发人员数量人

Smart construction The Beijing-Tianjin-Tanggu Expressway Renovation and Expansion Project Digital and Intelligent Number of R&D personnel person 790 1043 1082

management Management Platform is used to achieve intelligent management.员工中研发人员占比

Proportion of R&D personnel in total % 10.08 15.36 16.29

workforce

“通港达园”1项目实现跨区域自动驾驶应用，推动车路协同自动驾驶技术在干线物流中的商智能交通系统 有效专利总数 项业化应用。 Total valid patents Number 1040 / /Intelligent The Tonggang Dayuan project1 has achieved cross-regional autonomous driving applications

transportation systems

promoting the commercial application of vehicle-road collaboration autonomous driving 完成专利申请数量 项 440 174 242

technology in trunk line logistics. Completed patent applications Number新增专利申请数量项

New patent applications Number 217 215 205软件著作权数量件

Software copyrights Number 779 / /江西瑞昌智慧收费站试点站

Jiangxi Ruichang Smart Toll Station Pilot Project 获得科技奖励 项

Number of Sci-Tech awards Number 27 23 36

※注释：※注释：

1.招商新智与京津塘高速的试点项目——“天津港至马驹桥物流园公路货运自动驾驶先导应用试点”，简称“通港达园”项目。2.公司追踪相关绩效，并于本报告关键绩效表中披露相关数据。

※ Note: ※ Note:

1. A pilot project by China Merchants New Intelligence Technology Co. Ltd. and the Beijing-Tianjin-Tanggu Expressway the Tianjin Port-to-Majuqiao 2.The Company tracks relevant performance and discloses related data in the Key Performance Highlights of this Report.

Logistics Park Expressway Freight Autonomous Driving Pilot Application Project referred to as the Tonggang Dayuan project in short.

6465招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025

公路品质与运营安全 影响类型 风险与机遇描述 影响周期 1 应对举措Impact Type Risk and opportunity description Impact duration1 Response measures公路品质低下2与运营安全管理疏漏3可

EXPRESSWAY QUALITY AND OPERATIONAL SAFETY 1. 重点整治边坡、桥梁、隧道等结构物隐患并组织能会增加交通事故风险及其严重程度， 边坡水毁与除雪铲冰等实战化应急演练，提升处置可能导致路产设施损毁修复费用、高额应对能力。

赔偿金及保险费用。

招商公路将保障路网安全畅通作为首要责任，强化公路与周边社区纽带作用，发展“服务区+”路衍经济，统筹路网运行、2.通过装备雾区诱导系统、照明诱导及事故预警带，Poor expressway quality2 and operational 提升通行安全水平。

设施养护与风险防控，强化运营安全，优化出行体验。 safety management negligence3 may increase 短期 1.Focus on rectifying potential hazards in structures such asthe risk and severity of traffic accidents po- Short slopes bridges and tunnels organize practical emergency

CMET regards ensuring the safety and smooth operation of the road network as its primary responsibility strengthens the bond between tentially leading to repair costs for damaged term drills such as slope flood damage response snow removal

road facilities high compensation payments

expressways and surrounding communities develops a "service area+" road-derived economy coordinates road network operation facility and ice breaking to enhance response capabilities.and insurance expenses.maintenance and risk prevention enhances operational safety and optimizes travel experience. 2.Improve traffic safety by installing fog zone induction

风险 systems lighting guidance systems and accident warning zones.Risk

品质与安全标准日益严格，公司需持续积极探索创新技术，实现道路基础设施的高效、高投入巨额资金用于预防性养护、设施智精度智能巡查与判识，提供全链条巡检养护解决方慧化升级4、安全人员培训和应急体系建案，提升高速公路管理和养护效率。

治理 设，进而增加公司运营成本。 中长期 Actively explore innovative technologies to achieveIncreasingly stringent quality and safety

GOVERNANCE Medium efficient and high-precision intelligent inspection and standards require the Company to continu- to identification of road infrastructure and provide full-

ously invest substantial funds in preventive

4 long term chain inspection and maintenance solutions to improve

公司建立权责清晰、层级分明的道路运营安全责任治理体系，董事会作为道路运营安全工作的最高决策主体，公司安全 maintenance smart facility upgrades safety expressway management and maintenance efficiency.personnel training and emergency system

管理部统筹牵头全局安全管理工作，各所属公司严格落实安全生产责任制，全面履行年度公路网络全域安全管理职责。 construction thereby increasing the Compa-ny's operating costs.The Company has established a road operation safety responsibility governance system with clear authority and well-defined hierarchies.The Board serves as the highest decision-making body for road operation safety the Safety Management Department coordinates and leads 引入新材料和创新技术手段，加强道路 1. 应用“互联网 + 交通执法”技术，引入声音交警、overall safety management work and each subsidiary strictly implements the work safety responsibility system and fully fulfills its annual 状况实时监测与应急响应能力，能够有 空中交警等处置模式，提升道路安全实时监控工作road network-wide safety management responsibilities. 效提升道路通行效率及服务区、收费站 效率。

的服务效能，提升客户满意度，进而增 2. 构建“安全 AI 助手”，覆盖综合监管、业务管理、加公司通行费收入。施工作业，保障涉路施工过程安全可控。

中长期

Introducing new materials and innovative 1.Apply "Internet + traffic law enforcement" technologies

机遇 technologies to enhance real-time road con- Medium introduce response modes such as voice traffic police

Opportunity dition monitoring and emergency response

to and aerial traffic police to improve real-time road safety

战略 capabilities can effectively improve road long term monitoring efficiency.traffic efficiency and the service effectiveness 2.Build an "AI-powered safety assistant" which covers

STRATEGY of service areas and toll stations increasing comprehensive supervision business management customer satisfaction and thereby boosting and construction operations to ensure the safety and

the Company's toll revenue. controllability of road-related construction processes.公司持续推进“科技兴安、科技强安”战略，以全面响应出行者需求为原则，以科技为支撑、以服务为核心，全面保障路网安全稳定、高效畅通运行。※注释：

1.根据业务开展模式，风险与机遇清单中定义时间范围短期为1—3年（含3年）；中期为3—5年（含5年）；长期为5年以上。

The Company continuously advances the "technology-empowered and technology-enhanced safety" strategy adheres to the principle of 2. 如路面坑槽、桥梁结构隐患、排水不畅、安全设施缺失或损坏。

comprehensively responding to traveler needs and takes a technology-enabled and service-centric approach fully ensuring the safe stable 3. 如监控失效、应急响应迟缓、养护作业不规范、恶劣天气管控不力。

efficient and smooth operation of the road network. 4. 智能监控、主动预警系统等应用于公路运营与应急管理的技术。

※ Notes:

1.Based on business operation models the time frame in the risk and opportunity list is defined as short term (1-3 years including 3 years)

medium term (3-5 years including 5 years) and long term (over 5 years).

2.Such as pavement potholes potential hazards in bridge structures poor drainage missing or damaged safety facilities.

3.Such as monitoring failure slow emergency response non-standard maintenance operations and inadequate control under adverse

weather conditions.

4.Technologies applied to expressway operation and emergency management such as intelligent monitoring and active warning systems.

6667招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025

影响、风险和机遇管理

IMPACT RISK AND OPPORTUNITY MANAGEMENT公司持续开展工程、运维、服务等公路运营关键环节的影响、风险和机遇识别工作。 2024 年，公司编制完成《招商公路 The Company signs work safety management agreements with suppliers specifying clauses defining respective work safety responsibilities安全生产风险分级管控与隐患排查治理双重预防体系建设管理手册》，建立健全以风险分级和隐患排查双控体系为核心 in contracts and fulfills the work safety management responsibilities listed therein. At the same time we bear responsibility for unifiedcoordination supervision and management of accident potential hazard investigation and control for contracted companies and other

的风险管理流程，不断完善安全隐患治理工作的长效机制。 suppliers ensuring occupational health and safety during supplier cooperation.CMET continuously conducts impact risk and opportunity identification in key areas of expressway operations including engineering

maintenance and services. In 2024 the Company completed the compilation of the CMET Management Manual on Building Work

Safety Dual-Control System Integrating Risk Classification and Hazard Identification and Rectification establishing and improving a risk

management process centered on a dual-control system of risk grading and hazard investigation while continuously refining the long-term 荣誉奖项

mechanism for safety hazard management. Honors and awards

“AI 大模型赋能高速公路运营管理及改扩建 “安全生产助手”获得招商局集团第二届图安全管理要素 管理工具 应用示范”入选中国交通运输协会、人民交 灵杯 AI 应用创新大赛场景赛道三等奖。

Safety management elements Management tools

风险分级和通杂志社“全国高速公路创新发展”典型案例。

收费站、服务区、结构物（隧道、边坡 隐患排查双控体系 风险四色图、实施指南、安全风险辨识 The AI Large Model Empowering Expressway Operation The Work Safety Assistant won the Third Prize in the Scenario和路基路面）、养护施工、自然灾害。 Dual-control system 评估及管控清单、隐患排查清单。 Management Renovation and Expansion Application Track of CMG's Second Turing Cup AI Application Innovationof risk classification Demonstration project was selected as a typical case in the Competition.Toll stations service areas structures (tunnels and potential hazard Four-color risk map implementation guidelines National Expressway Innovation and Development initiatives

slopes and roadbed pavement) maintenance investigation safety risk identification assessment and control by the China Communications and Transportation Association

construction and natural disasters. lists and potential hazard investigation lists. and People's Transportation Magazine.提升道路安全招商公路“一路多方”协同调度指挥平台助力“主动防控智慧协同”转型案例

CMET Multi-Party Collaboration for One Expressway collaborative command and dispatch platform drives

Enhancing road safety CASEthe transformation towards "proactive prevention and intelligent synergy"

公司制定《招商公路安全生产目标管理考核办法》，落实“安全生产治本攻坚三年行动”的要求，推动高速公路安全生招商公路自主研发的“一路多方”协同调度指挥平台有效解决隐患排查孤立、突发事件应急响应慢、路网感知能力差、产大模型落地见效。“安全生产助手”和“安全问数助手”App 在招商公路总部及所属京津塘高速、重庆公司、垫忠高 交通事件发现不及时等问题，利用 AI 事件识别功能监测路面、隧道、互通立交等关键场景，建立“监测预警—协同速等20家路段公司上线应用，提升作业效率与安全水平；制定《招商公路安全生产风险辨识管控及隐患排查治理体系建处置—统计分析”智慧高速全流程闭环管理机制，实现交通事件自动识别与预警准确率超98%，交通事件处置效率设实施指南》，建立包括收费站、服务区、基础设施、养护施工、自然灾害等安全管理分项的公司风险识别和隐患排查提升88.68%。

管控清单，实现风险隐患“清单化、动态化、闭环化”管理。 The Multi-Party Collaboration for One Expresswaycollaborative command and dispatch platform

公司与供应商签订安全生产管理协议，在合同中明确各自安全生产责任的相关条款，履行合同所列的安全生产管理责任。 independently developed by CMET effectivelyaddresses issues including isolated potential hazard同时，对本公司发包的承包公司及其他供应商的事故隐患排查治理负有统一协调和监督管理的职责，保障供应商合作期 investigations slow emergency response to incidents间的职业健康与安全。 poor road network awareness and untimely detectionof traffic events. Utilizing AI event identification

The Company has formulated the CMET Work Safety Target Management Assessment Measures implemented the requirements of the functions to monitor key scenarios such as road

Three-Year Action Plan for Addressing the Root Causes of Work Safety and promoted the implementation of a large model for expressway surfaces tunnels and interchanges it establishes a

work safety. The Work Safety Assistant and Data Inquiry Safety Assistant applications have been deployed at CMET headquarters and its closed-loop management mechanism for the entire

subsidiaries including 20 road section companies such as Beijing-Tianjin-Tanggu Expressway Branch Chongqing subsidiary and Dianzhong smart expressway process featuring "monitoring

Expressway of CMCR improving operational efficiency and safety levels. We have formulated the CMET Implementation Guide for the and warning collaborative response and statistical

Construction of Work Safety Risk Identification Control and Potential Hazard Investigation and Management System established company- analysis" with over 98% accuracy in automatic traffic

wide risk identification and potential hazard investigation control lists covering safety management sub-items including toll stations service event identification and warning and an 88.68% 招商公路“一路多方”协同指挥调度中心创新智慧中枢

areas infrastructure maintenance construction and natural disasters and achieved "listed dynamic and closed-loop" management of risks improvement in traffic incident response efficiency. The intelligent innovation hub of the CMET Multi-Party Collaboration for One

and potential hazards. Expressway collaborative command and dispatch center

6869招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025提升服务质效

Enhancing service quality and efficiency

公司开展“安全生产月”等安全文化宣贯活动，制定生产安全事故、突发环境事件、防汛防台等多项突发事件应急预案，公司探索“高速+新能源”“高速+物流”“高速+旅游”等融合发展模式，推动服务区服务品质迭代提升；纵深开展开展应急演练活动。全年组织应急演练336场，参训7007人次，切实提升一线人员应急处置实战能力。客户精准营销工作，开展联合油品优惠、服务区商超餐饮优惠、文旅联合宣传等系列活动，提升客户体验与业务衍生价值。

The Company carries out safety culture promotion activities such as Work Safety Month formulates multiple emergency plans for incidents

including production safety accidents environmental emergencies and flood and typhoon preparedness and conducts emergency drill 公司完善客户服务的规范化流程，并制定《招商公路客户满意度调查管理办法》，对各类服务需求做到快速响应、高效处置，activities. Throughout the year 336 emergency drills were organized with 7007 participants effectively enhancing the practical emergency 主动复盘服务过程、剖析问题症结，持续推进客户满意度提升工作；正确处理顾客对高速公路服务质量的投诉，制定投response capabilities of frontline personnel. 诉处理管理办法，启动电话、信件、来访等多样化客户投诉渠道，与顾客建立有效沟通。

Company explores integrated development models such as "expressway + new energy" "expressway + logistics" and "expressway + tourism"

岑兴高速开展 2025 年“一路多方”汛期边坡水毁处置应急演练 案例 driving iterative service quality improvements in service areas. Meanwhile we conduct in-depth targeted customer marketing campaigns

Cenxing Expressway conducts 2025 Multi-Party Collaboration for One Expressway flood season slope flood

CASE and organize a series of activities including joint fuel discounts service area supermarket and dining promotions and joint cultural tourism

damage disposal emergency drill

promotions thereby enhancing customer experience and business derivative value.在广西“龙舟水”降雨集中期，在 G80 广昆高速岑兴段组织开展 2025 年“一路多方”汛期边坡水毁处置应急演练， The Company has refined its standardized customer service processes and formulated the CMET Customer Satisfaction Survey Management全面检验“一路多方”联勤联动机制，明确各单位在应急处置中的职责分工，提升应对汛期突发灾害的快速响应和协 Measures to ensure rapid response and efficient handling of various service demands. We proactively review service processes analyze root同处置能力。 causes of issues continuously promote customer satisfaction improvement properly handle customer complaints regarding expresswayservice quality formulate complaint handling management measures and diversify customer complaint channels including telephone mail

and in-person visits establishing effective communication with customers.During the "dragon boat water" heavy rainfall period in

Guangxi Zhuang Autonomous Region the 2025 Multi-

Party Collaboration for One Expressway flood season

slope flood damage disposal emergency drill was

organized on the G80 Guangzhou-Kunming Expressway 客户满意度调查 Customer Satisfaction Survey

Cenxing Section comprehensively testing the Multi-

Party Collaboration for One Expressway joint response 2025 年，重庆高速通过第三方电话及现场调研访问、网络调查等方式，对所辖 44 个运营公司及所辖路段中mechanism clarifying the responsibilities of each unit

in emergency response and enhancing rapid response 的收费站、服务区、监控站、ETC 公司等进行顾客满意度调查，针对服务区与收费站服务、道路养护、运行and collaborative disposal capabilities for flood season 监控、清障救援开展调查。其中沪渝公司顾客综合满意度达到 94.11 分，渝黔高速达到 95.20 分。

disasters.In 2025 Chongqing Expressway conducted customer satisfaction surveys across 44 operating companies under its jurisdiction covering

岑兴高速“一张图”作战模式图

toll stations service areas monitoring stations and ETC companies within its road network through third-party telephone surveys on-site

The unified emergency response deployment map of Cenxing Expressway

interviews and online questionnaires. Surveys focused on service area and toll station services road maintenance operation monitoring

and obstacle clearance and rescue. Among these Chongqing Shanghai-Chongqing Expressway Co. Ltd. achieved a comprehensive

customer satisfaction score of 94.11 points while Chongqing Yuqian Expressway Co. Ltd. reached 95.20 points.保障道路畅通甬台温高速通过调研问卷方式面向司乘人员开展客户满意度调查，对收费管理、服务区管理、道路养护及整Ensuring road smoothness 体影响等四个维度进行综合评价，超过 98.43% 的司乘人员给出满意评价。

Ningbo-Taizhou-Wenzhou Expressway conducted customer satisfaction surveys targeting drivers and passengers through

公司聚焦运输高峰关键时间节点，增强路网运行监测与应急处置能力，利用数字化平台开展气象数据分析，探索公路交 questionnaires comprehensively evaluating four dimensions of toll management service area management road通 AI 大模型等关键技术，优化防范极端天气相关应急预案；发布恶劣天气预警并启动应急响应，实现极端天气下路网风 maintenance and overall impression. Over 98.43% of drivers and passengers gave satisfactory ratings.险的精准防控与高效处置。

九瑞高速、鄂东大桥、岑梧高速、德商高速、平正高速、重庆公司等所属公司清排障满意度均达到100%。

CMET focuses on key time nodes of transportation peaks strengthening road network operation monitoring and emergency response

capabilities. We utilize digital platforms for meteorological data analysis explore key technologies such as expressway transportation AI large

Obstacle clearance and rescue satisfaction rates reached 100% at subsidiaries including Jiurui Expressway Edong Bridge Cenwu

models and optimize emergency plans for extreme weather prevention. Meanwhile the Company issues adverse weather warnings and

Expressway Dezhou-Shangqiu Expressway Pingzheng Expressway and Chongqing subsidiary.initiates emergency responses achieving precise prevention and efficient response to road network risks under extreme weather conditions.

7071招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025

202320242025

京台高速以道路养护和服务区升级提升服务质量案例93.913.733.68

Jingtai Expressway enhances service quality through road maintenance and service area upgrades CASE 100 100

京台高速（廊坊段）推进道路养护和服务区升级工作，对79公里路段的路面进行翻新处理，整治54处桥头颠簸问题；2.58服务区实施全面改造，停车位从670个增加到1083个，厕所建筑面积从305平方米扩建至522平方米；永清、文

93.28

安服务区同步建成标准化“司机之家”，设置夜间货车专用停车区，解决货车司机“停车难、如厕难、休息难”的问题。

93.05

Jingtai Expressway (Langfang Section) advanced road maintenance and service area upgrade initiatives resurfacing 79 kilometers of roadway 99.77

and addressing 54 bridge head bump issues. Service areas underwent comprehensive renovation with parking spaces increased from 670 to

1083 and restroom floor space expanded from 305 square meters to 522 square meters. Yongqing and Wen'an service areas simultaneously

established standardized Drivers' Home featuring dedicated overnight truck parking zones addressing truck drivers' difficulties in parking

using toilets and resting.路面使用性能指数 (PQI) 道路养护投入 一、二类桥梁比例

Pavement quality index Road maintenance Proportion of class I and

(PQI) investment II bridges

单位：分单位：亿元单位：%

Unit: point Unit: RMB 100 million Unit: %

98.393666392.1992.6297.9627.47

21.4221.59

3234933610

82.9293.73

京台高速服务区室内改造后实景

Interior view of the renovated service area of Jingtai Expressway路网清排障20分钟到达率1路网清排障30分钟到达率1平均清障时长1年度清排障数量1

指标和目标 Obstacle clearance Obstacle clearance Average obstacle Annual obstacle 20-minute arrival rate1 30-minute arrival rate1 clearance duration1 clearance incidents1

INDICATORS AND TARGETS

单位：%单位：%单位：分钟单位：次

公司围绕安全保障与运营提质核心维度，分解安全生产年度责任目标与运营任务，每年与所属公司第一责任人签订安全 Unit: % Unit:% Unit: minute Unit: time生产管理目标责任书，明确年度安全生产管理目标和安全生产重点工作，致力于道路重大事故“零发生”。

※注释：

Centering on the core dimensions of safety assurance and operational quality improvement the Company decomposes annual work-safety- 1. 招商中铁于 2023 年底并表，上表数据中 2023 年与 2024 年未涵盖招商中铁，其他数据包含招商中铁。2025 年数据已涵盖招商中铁。

responsibility targets and operational tasks signs annual work safety management responsibility agreements with primary responsible

※ Note:

persons of subsidiaries clarifies annual work safety management objectives and key work safety tasks and remains committed to achieving

1.CMCR data was consolidated in statistical calculations at the end of 2023. Data marked with for 2023 and 2024 in the above table excludes

"zero" major road accidents.CMCR other data includes CMCR. The data for 2025 has included CMCR.

7273招商公路向新而行交通更智慧2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Advancing with Innovation: Building Smarter Transportation Sustainability Report 2025数据安全与客户隐私保护

DATA SECURITY AND CUSTOMER PRIVACY PROTECTION数据泄露应急响应及处置

Data leakage emergency response and disposal

公司严格遵守《网络安全法》《数据安全法》《网络数据安全管理条例》等法律法规，遵循《招商局集团网络数据安全管理办法(暂行）》相关规定，制定《招商公路网络安全管理制度》《招商公路信息安全政策》。按“谁主管谁负责”原则落实网络安全责任，构建由董事会监督、总经理牵头、分管领导分工负责、各部门负责人具体落实的层级化责任体系，建设网络安全等级保护三级体系，总部及所属公司设立网络安全与信息化领导小组、网络安全工作小组，开展相应工作； 发现 Detection 分析 Analysis建立《招商公路数据泄露应急处置专项预案》，签订网络与信息安全保护责任书，定期开展数据安全风险评估与攻防演练，强化数据全生命周期安全管控。通过外部媒介渠道或各信息系统使用、运维等相分析研判人员召集信息系统所属部门关人员，发现疑似信息泄露情况时及时向网络安的负责人，确认泄露信息归属的信息CMET strictly complies with laws and regulations including the Cybersecurity Law of the People's Republic of China the Data Security Law 全监测指挥中心通报情况。

系统。

of the People's Republic of China and the Regulations on Network Data Security Management. Following the relevant provisions of the CMG When suspected information leakage is

Cyber Security Management Measures (Interim) the Company has formulated the CMET Cybersecurity Management Regulations and the discovered through external media channels The analysis and judgment personnel

CMET Information Security Policy. We implement cybersecurity responsibilities in accordance with the principle of "accountability matching or reported by personnel involved in the shall convene the department heads of

authority" establishing a tiered responsibility system with supervision by the Board leadership by the CEO division of responsibilities among use or O&M of information systems the the information system to confirm the

ownership of the leaked information.leaders in charge and specific implementation by heads of various departments. CMET has built a three-tier cybersecurity protection system situation shall be promptly reported to the

Cybersecurity Monitoring and Command

and the headquarters and its subsidiaries have established Cybersecurity and Informatization Leading Groups and Cybersecurity Working Center.Groups to carry out corresponding work. The Company has formulated the CMET Data Leakage Emergency Response Plan signed network

and information security protection responsibility agreements regularly conducted data security risk assessments and cyber attack and

defense drills and strengthened security control throughout the data lifecycle.公司根据《招商公路网络安全管理制度》，明确各岗位信息安全管理责任，强化员工客户信息保护意识与合规操作培训， 处置 Disposal 总结 Conclusion严禁违规收集、泄露、倒卖客户信息。依托技术手段搭建安全防护屏障，对客户隐私信息进行加密处理，定期开展风险排查与漏洞整改，切实防范信息泄露、篡改等风险，确保重大安全事件与客户隐私泄露零发生。配置访问策略，建立白名单机制。完善工作日志与记录，开展复盘与溯In accordance with the CMET Cybersecurity Management Regulations the Company clarifies the information security management Configure access policies and establish a源，形成整改建议及事件分析报告，whitelist mechanism.responsibilities of each position strengthens employee awareness of customer information protection as well as training on compliant 并督促各部门进行整改。

operations and strictly prohibits the illegal collection leakage or sale of customer information. We leverage technical means to build a Improve work logs and records conduct

security protection barrier encrypt customer privacy information regularly conduct risk investigations and vulnerability rectifications and reviews and source identification form

effectively prevent risks such as information leakage and tampering ensuring zero incidents of major security breaches and customer privacy rectification recommendations and incident

leaks. analysis reports and supervise various departments in carrying out rectifications.招商公路九瑞高速

CMET Jiujiang-Ruichang Expressway

7475招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025和谐共荣

生态可持03招商公路持续探索公路运营中的能源节约路径、“公路+”可再生能源项目建续设、路域生态保护，严守生态底线，以系统的气候行动推动交通行业绿色低碳转型，以全面的生态保护促进和谐共生，THRIVING IN HARMONY 努力实现经济效益、社会效益与生态效

ENSURING ECOLOGICAL 益的有机统一。

SUSTAINABILITY

CMET continuously explores energy conservation

pathways in expressway operations advances

环境合规管理 78 "expressway+" renewable energy projects and

Environmental Compliance Management protects road-derived ecology. By adhering to

ecological bottom lines the Company drives

资源使用 86 the green and low-carbon transformation of the

Resource Utilization transportation industry with systematic climate

action and promotes harmonious coexistence应对气候变化

88 through comprehensive ecological protection

Climate Change Response striving to achieve the organic unity of economic

social and ecological benefits.生态环境保护

Ecological and Environmental Protection 112招商公路甬台温高速

CMET Ningbo-Taizhou-Wenzhou Expressway

7677招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025环境合规管理

ENVIRONMENTAL COMPLIANCE MANAGEMENT 节能环保治理架构及职责?The energy conservation and environmental protection governance structure and responsibilities

招商公路严格遵守《环境保护法》《大气污染防治法》等法律法规，健全环境管理体系，强化环境风险管控，推动环保组长为分管节能环保工作的副总经理，领导小组成员为公司总部各部门负责人、意识提升，为绿色公路网络建设提供坚实保障。各所属公司负责人。全面负责公司节能环保工作，统筹节能环保工作规划，推节能环保进节能环保体系建设，部署节能环保工作事项。

Strictly complying with laws and regulations including the Environmental Protection Law of the People's Republic of China and the Law of 工作领导小组 Led by the Deputy General Manager in charge of energy conservation and environmental

the People's Republic of China on the Prevention and Control of Atmospheric Pollution CMET improves the environmental management

Energy Conservation protection with members including heads of headquarters departments and subsidiaries.system strengthens environmental risk control and promotes environmental awareness providing solid guarantees for the construction of a

and Environmental Fully responsible for the Company's energy conservation and environmental protection

green expressway network.Protection Leading work the group coordinates work planning promotes system development and deploys

Group key initiatives.环境管理体系

ENVIRONMENTAL MANAGEMENT SYSTEM

公司制定《招商公路环境保护政策》《招商公路节能环保规定》《招商公路突发环境事件报告及调查处理办法》《招商公路突发环境事件综合预案》《招商公路生态环境保护责任清单》等制度，明确节能环保治理架构，积极推动相关供应商、办公室设在安全管理部，由安全管理部总经理兼任办公室主任。负责传达分解合作伙伴等共同落实节能环保要求，落实节能环保责任与考核机制。节能环保上级要求，完善制度体系，推进、监督、考核、调查各项具体工作，配合审计工作办公室合规管理。

公司高度重视环境风险管控，制定并完善突发环境事件应急预案，定期开展环境风险隐患排查，常态化组织多场景实战Energy Conservation

应急演练，提升全员应急处置能力，全力保障高速公路运营安全与沿线生态环境稳定。 Located within the Safety Management Department with the General Manager of the Safety and EnvironmentalManagement Department concurrently serving as the Office Director the office is responsible

Protection Office

for conveying senior management requirements improving the policy system promoting

The Company has formulated policies and rules including the CMET Environmental Protection Policy CMET Regulations on Energy supervising assessing and investigating specific work and cooperating with audit and

Conservation and Environmental Protection CMET Measures for Reporting and Investigating Environmental Emergencies CMET compliance management.Comprehensive Plan for Environmental Emergencies and CMET Eco-Environmental Conservation Responsibility List . These policies

clarify the energy conservation and environmental protection governance structure actively promote the joint implementation of energy

conservation and environmental protection requirements with relevant suppliers and partners and implement responsibilities and

assessment mechanisms for energy conservation and environmental protection.The Company places high importance on environmental risk control formulates and improves emergency plans for environmental incidents

regularly conducts investigations on environmental risk and potential hazards and organizes routine multi-scenario practical emergency

drills to enhance the emergency response capabilities of all employees fully ensuring the safety of expressway operations and the stability of 能源节约与清洁能源布局

the ecological environment along the routes.ENERGY CONSERVATION AND CLEAN ENERGY DEPLOYMENT

关键绩效 Key performance highlights 公司依托高速公路及交通枢纽场景，积极布局清洁能源产业，创新打造集“发、储、充、用”于一体的清洁能源综合服务系统，涵盖新能源发电、储能、配售电业务，积极探索碳交易并布局围绕路域场景的可再生能源项目，鼓励所属公司进行技术全公司未发生环境污染突发事件，未受到因环境问题的投诉，未受到环保部门通报处罚革新与工艺优化。

No environmental pollution emergency occurred throughout the Company no complaint was received due to environmental

Leveraging the expressway and transportation hub scenarios CMET proactively deploys clean energy industries and innovatively creates an

issues and no notification or penalty was imposed by environmental authorities

integrated clean energy service system encompassing "generation storage charging and utilization" covering new energy power generation

energy storage and power distribution and sales. The Company actively explores carbon trading and deploys renewable energy projects

centered on road-based scenarios encouraging subsidiaries to pursue technological innovation and process optimization.招商新智、招商智广、招商华软已获得 ISO 14001 环境管理体系认证

China Merchants New Intelligence Technology Co. Ltd. China Merchants Zhiguang Technology (Anhui) Co. Ltd. and China

Merchants Huaruan Information Co. Ltd. have obtained ISO 14001 Environmental Management System (EMS) Certification

7879招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

关键绩效 Key performance highlights 招商交科研发智能照明系统推动隧道运营节能脱碳 案例

CMCT develops a smart lighting system driving energy saving and decarbonization in tunnel operations CASE

公司通过太阳能发电29474.10兆瓦时其中自用474.14兆瓦时招商交科创新研发“与车随行”智能照明系统，在久马高速构建基于实时洞外亮度、车速、交通量的自反馈控制体系，实现“车来灯亮、车走灯暗”。使隧道灯具低功率运行时长占比达50%—70%，综合节能约40%，其中马塘、色尔The Company generated 29474.10 MWh of electricity through solar power with 474.14 MWh for self-use.岗曲隧道年节约电费26万元、减碳近20万吨，灯具使用寿命延长2倍以上。

项目荣获2025年公路工程建设项目管理创新比赛三等奖，以“安全优先、按需节能”模式为高海拔低交通量隧道提桂林公司完成国内首个“单体百万平米”超大型复拌就地热再生工程，减少沥青废料排放11.08万吨、二供可复制范例。

氧化碳排放13.3万吨，节约标准煤约0.63万吨。 CMCT has innovatively developed a "traffic-following" smart lighting system establishing a self-feedback control system based on re-al-time external brightness vehicle speed and traffic volume on the Jiuma Expressway and achieving "lights on with traffic lights dim

Guilin subsidiary completed the first "million-square-meter standalone" super-scale remixing hot in-place recycling project without traffic". This enables tunnel lighting to operate at low power for 50%-70% of the time achieving approximately 40% comprehen-

in China reducing asphalt waste emissions by 110800 tons and carbon dioxide emissions by 133000 tons and conserving sive energy savings. In the Matang

approximately 6300 tons of standard coal. and Se'ergangqu Tunnels alone

annual electricity costs have been

reduced by RMB 260000 carbon

emissions have been cut by nearly

200000 tons and lamp lifespan

has been extended by more than京津塘高速规划建设光伏发电系统、微风风电，优化配置储能与充电桩，目标打造“一切用能电气化、能源自 twice.洽绿色化”零碳绿色示范高速公路。

The project won the Third Prize in

the 2025 Expressway Engineering

Beijing-Tianjin-Tanggu Expressway plans to construct photovoltaic power generation systems and micro-wind power optimize

Construction Project Management

the configuration of energy storage and charging piles aiming to build a zero-carbon green demonstration expressway with

Innovation Competition providing

"electrification of all energy and self-sufficiency in green energy".a replicable example for high-alti-

tude and low-traffic volume tun-

公司严格执行《招商公路节能环保管理规定》，优先采用环保型生产工艺和原材料；建立完善的监测体系，定期对降低 nels with the "safety-first and de-mand-based energy conservation"

能源消耗的进展进行评价与考核。 mode.招商交科“与车随行”智能照明系统实时交通量和亮度监测示意图

The Company has strictly implemented the CMET Management Regulations on Energy Conservation and Environmental Protection to

Schematic diagram of real-time traffic volume and brightness monitoring of CMCT's "traffic-following"

prioritize the use of environment-friendly production processes and raw materials and established a comprehensive monitoring system to smart lighting system

regularly evaluate and assess progress in reducing energy consumption.关键绩效 Key performance highlights

能耗折合标准煤1.11万吨折合碳排放指标4.20万吨污染排放管理

Energy consumption equivalent to 11100 tons of standard Equivalent carbon emissions of 42000 tons POLLUTANT EMISSION MANAGEMENT

coal

公司构建覆盖废水、废气、固体废物（简称“三废”）及噪声等全要素的污染排放常态化管控体系，通过全过程监测、合规性审查与动态风险评估，确保所有排放指标持续满足环保标准要求，实现污染物合规处置及污染最小化。

综合能耗同比下降2.96%

CMET has established a normalized control system covering all elements of pollutant emissions including the "three wastes" (waste water

Comprehensive energy consumption decreased by 2.96%

exhaust gas and solid waste) and noise. Through whole-process monitoring compliance review and dynamic risk assessment the Company

year-on-year

ensures that all emission indicators continuously comply with environmental standards achieving compliant disposal of pollutants and

minimization of pollution.

8081招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

“三废”管理举措 "Three wastes" management measures 噪声管理举措 Noise management measures

■ 固体废弃物 1 Solid waste 1 ■ 声屏障建设 Sound barrier

生活垃圾管理：倡导和督促员工进行生活垃圾分类；委托第三方管理公司集中清运、合规处理。在收费站、服务区以及靠近居民区的路段等噪声敏感区域安装声屏障，阻断和降低噪声传播。

Sound barriers are installed in noise-sensitive areas such as toll stations service areas and road sections near residential communities

建筑垃圾管理：综合利用优先，施工期产生的建筑垃圾、工程弃土、钻泥及淤泥优先考虑综合利用；规范处置，不 to block and reduce noise propagation.能综合利用的建筑垃圾，按合规要求运至指定的消纳场所处置；危险废弃物合规处理，施工期产生的危险废弃物做好储存工作，并定期交有资质的单位处置。 ■ 低噪声路面铺设 Low-noise pavementDomestic waste management: Employees are promoted and urged to practice waste sorting and third-party management companies 选用全新较低噪音沥青降噪材料铺设路面，减少路面与车辆轮胎摩擦产生的噪声。

are entrusted for centralized collection and compliant disposal.New lower-noise asphalt materials are used for pavement paving to reduce noise generated by friction between road surface and

Construction waste management: Comprehensive utilization is prioritized while construction waste excavated spoil drilling mud vehicle tires.and sludge generated during construction are given priority for comprehensive utilization. For waste not suitable for comprehensive

utilization it is transported to designated disposal sites in accordance with compliance requirements. Hazardous waste is handled ■ 绿化隔离带打造 Green buffer zones

according to regulations and hazardous waste generated during construction is properly stored and regularly handed over to qualified

units for disposal. 种植各类树木和植被，利用植物的吸音和阻隔特性，吸收噪声，减弱噪声传播，形成天然绿色隔音屏障。

Various trees and vegetation are planted to utilize the sound-absorbing and blocking properties of plants absorb noise and weaken its

■ 废水 2 Waste water 2 propagation forming natural green sound barriers.所属公司积极推动收费站雨污管网建设，实现雨污分流，所产生的生活污水经化粪池沉淀，由污水处理设备处理达 ■ 限速和交通管制 Speed limits and traffic control标，排入区域市政污水管网，进入下游污水处理厂。

与区域监管部门配合，采取区域限速措施控制车速，通过分流等交通管制手段减少特定路段车流量，增设指示牌倡Subsidiaries actively promote the construction of rainwater and sewage pipeline networks at toll stations to achieve rainwater and

导司机非必要少鸣笛，从多方面减少车辆噪声。

sewage separation. Domestic sewage is settled in septic tanks treated to standards by sewage treatment equipment and then

discharged into the regional municipal sewage network eventually reaching downstream sewage treatment plants.In cooperation with regional regulatory authorities regional speed limit measures are implemented to control vehicle speed traffic

■ 废气 3 Exhaust gas 3 control measures including diversion are taken to reduce traffic flow on specific road sections and signage is added to advocate for

drivers to minimize unnecessary horn use reducing vehicle noise from multiple aspects.通过安装食堂油烟净化装置、定期对公务车辆进行保养和年检、推广和应用环保低碳的新标线材料等方式，有效减少废气排放。

Through measures including installation of oil fume purification devices in canteens regular maintenance and annual inspections of 重庆公司构建精细化污染排放管控体系降低“三废”产生 案例

official vehicles and promotion and application of new environment-friendly and low-carbon marking materials effective reduction of Chongqing subsidiary builds a refined pollutant emission control system reducing the generation of "three wastes" CASE

exhaust emissions is achieved.重庆公司坚持“源头治理与末端治理相结合”的污染防控策略，构建精细化排放管理体系。在固体废物管理方面，大※ 注释： 力推广 EMC-13 薄层罩面等养护新工艺，实现路面大修固废产生量降低 60%—80%，同时积极探索铣刨废料及混凝

1.主要来源为日常运营中产生的生活垃圾和新建、改建项目中的建筑垃圾。土沟盖板再利用路径，推动固废减量化与资源化协同。在废气排放管控方面，深入开展环境空气质量风险隐患排查整

2.主要来源为生活污水。治，全面建立车辆排放档案，持续优化车队结构。

3.主要来源为食堂油烟、公司管理及运营相关的公务车辆尾气及公路养护标线喷涂过程中产生的废气。

Chongqing subsidiary adheres to a pollution prevention strategy combining "upstream control and downstream treatment" constructing

a refined emission management system. In solid waste management it vigorously promotes new maintenance processes such as EMC-

※ Note: 13 thin overlay reducing solid waste generation from major pavement repairs by 60%-80% while actively exploring reuse pathways for

1.The main sources are domestic waste generated in daily operation and construction waste in new construction and reconstruction projects. milling waste and concrete ditch covers promoting the synergy of solid waste reduction and resource utilization. In exhaust emission

2.The main source is domestic sewage. control it conducts in-depth investigations and rectifications of environmental air quality risks and potential hazards comprehensively

3.The main sources are canteen lampblack official vehicle exhaust related to the management and operation of the company and waste gas establishes vehicle emission files and continuously optimizes fleet structure.

generated during the spraying process of highway maintenance markings.

8283招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

环保文化建设贵黄公司践行绿色办公，筑牢绿色运营根基案例Guihuang subsidiary practices green office initiatives building a solid foundation for green operations CASE

ENVIRONMENTAL PROTECTION CULTURE BUILDING

参股公司贵黄公司深入践行“节约集约、循环利用”，持续深化“节约一度电、一滴水、一张纸”，着力培育全员减公司将节能环保文化建设作为公司常态化工作，面向全体员工组织多维度的生态环境保护培训，包括节水意识培训、减排自觉。通过强化公共场所“人走灯熄”用电管理、规范办公设备下班关机、推广“招路通”平台实现无纸化办公、少废弃物产生培训及能源效益培训等，并发起绿色办公倡议，建设绿色办公型企业。

实施洗手间照明智能化改造等举措，构建“人人参与、时时节约”的基层环保文化。

The Company regards energy conservation and environmental protection culture building as a normalized task organizes multi-dimensional

ecological and environmental protection training for all employees including water conservation awareness training waste reduction Guihuang subsidiary deeply practices "conservation intensification and recycling" continuously deepens "saving every unit of

training and energy efficiency training and launches green office initiatives to build a green office enterprise. electricity every drop of water and every piece of paper" and focuses on cultivating emission reduction consciousness among all

employees. By strengthening electricity management in public areas with "lights off upon leaving" standardizing the shutdown of office

equipment after work promoting the HOPE platform for paperless office and implementing smart renovation of restroom lighting it

builds a grassroot environmental protection culture with "collective participation and constant conservation".关键绩效 Key performance highlights招商交科构建常态化环保宣教体系案例

CMCT builds a normalized environmental awareness education system CASE组织开展节能环保宣传教育培训170场次参加5793人次

招商交科围绕“六五环境日”“节能宣传周”“全国低碳日”“国

170 energy conservation and environmental 5793 attendancesprotection awareness training sessions 家生态日”开展系列主题宣传活动，运用广告机、LED 屏等数字化手段，持续提升全员生态文明意识。同时，将新修订的《节能环保管理规定》纳入安全环保必修培训，着力构建“日常宣教+制度学习”双驱动的环保文化培育机制。

CMCT carries out series of themed publicity activities around World

Environment Day (June 5) National Energy Conservation Awareness

招商公路总部发布倡议书，建设节约型绿色办公总部 案例 Week National Low Carbon Day and National Ecology Day utilizingCMET headquarters issues proposal to build a conservation-oriented green office headquarters CASE digital means such as advertising machines and LED screens to

continuously enhance employees' ecological civilization awareness.Meanwhile it incorporates the newly revised Management Regulations

公司总部印发《建设节约型绿色办公总部的倡议书》，深入践行“一切成本皆弹性”理念，通过推行节约用能、规范 on Energy Conservation and Environmental Protection into mandatory耗材使用、倡导集约办公、加强宣传教育，全面推动建设节约型绿色办公总部。 safety and environmental protection training striving to build anenvironmental culture cultivation mechanism driven by both "daily

CMET headquarters has issued the Proposal for Building a Conservation-Oriented Green Office Headquarters deeply practicing the awareness education and institutional learning".concept that "All costs can be optimized". By promoting energy conservation standardizing consumable usage advocating intensive

office practices and strengthening publicity and education it comprehensively promotes the construction of a conservation-oriented

招商交科“节能宣传周”“全国低碳日”宣传海报

green office headquarters.CMCT's promotional posters for National Energy Conservation Awareness Week and National Low Carbon Day

8485招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025资源使用循环经济

CIRCULAR ECONOMY

RESOURCE UTILIZATION 公司在公路建设与养护中，创新全组分固废再生、就地热再生、超薄磨耗层罩面等技术，实现旧沥青路面材料、铣刨废料的100%循环利用。同时，公司全面落实垃圾分类管理，最大限度减少废弃物产生。

招商公路构建节水型运营模式，探索废弃物资源化路径，推动资源利用效率系统性提升。

In expressway construction and maintenance CMET innovates technologies including full-component solid waste recycling hot in-place

CMET is building a water-efficient operation model exploring pathways for waste resource utilization and promoting the systematic recycling and ultra-thin wearing course overlay achieving 100% recycling of old asphalt pavement materials and milling waste. At the same

improvement of resource use efficiency. time the Company fully implements waste sorting management to minimize waste generation.重庆公司创新“一机两用”模式，驱动固废就地循环案例水资源使用 Chongqing subsidiary innovates the "one machine with two modes" model driving on-site solid waste recycling CASE

WATER RESOURCE UTILIZATION 2025 年，重庆公司创新实现挖掘机改装绿篱修剪机，实现“一机两用”与园林垃圾就地转化，将绿化养护效率从每公司积极响应国家节水号召，重点加强对服务区、收费站及养护作业等区域的用水管控，切实降低运营水耗。日500米提升至1000米，修剪枝干经现场粉碎直接作为边坡绿化肥料，节约外运处理成本，显著提升固废综合利用率。同时，设备可快速切换至抢险模式，及时清理落石、倒伏树木等障碍物，彻底解决传统作业中设备分离、人力成The Company actively responds to the national water conservation initiative focusing on strengthening water use control in areas including 本高、安全风险大等痛点，操作人员于驾驶室内即可完成全流程作业，有效规避车流、落石风险。

service areas toll stations and maintenance operation zones to effectively reduce operational water consumption.In 2025 Chongqing subsidiary innovatively modified an excavator into a hedge trimmer achieving "one machine with two modes" and on-site

conversion of garden waste and increasing green maintenance efficiency from 500 meters per day to 1000 meters per day. Pruned branches

are crushed on site and directly used as fertilizer for slope greening saving off-site disposal costs and significantly improving the comprehensive

甬台温高速创新“节水驿站”模式 引领行业水资源集约管理 utilization rate of solid waste. At the same time the equipment can be quickly switched to emergency mode to promptly clear obstacles such 案例

Ningbo-Taizhou-Wenzhou Expressway innovates the "water-saving post station" model leading intensive water as rocks and fallen trees completely solving the pain points of traditional operations including equipment separation high labor costs and

resource management in the industry CASE significant safety risks. Operators can complete the entire process from within the cab effectively avoiding traffic and falling rock risks.牵头编制并发布《高速公路服务区“节水驿站”建设规范》团体标准，填补行业空白，为全国服务区节水提供标准化、可复制的解决方案。桂林公司创新循环技术实现降本增效案例以苍南服务区为试点，构建“设施升级 + 科学管理 + 宣传引导”三位一体节水体系，节水器具与水计量器具均实 Guilin subsidiary innovates recycling technology achieving cost reduction and efficiency enhancement CASE现100%覆盖，单位车次用水量降至26.07升。

桂林公司聚焦资源高效及再生利用，实现四项技术突破：

实施“河道引水”项目，年节约市政自来水3万—4万吨，实现生态效益与经济效益双赢。旧标线覆用技术延长寿命30%、效率提升2倍，创效500万元。

Ningbo-Taizhou-Wenzhou Expressway took the lead in formulating and publishing the industry standard Code for "Water-Saving Post 边坡快速原位处置技术节约建设投资 5%—15%、运营成本 10%—30%，成果转化效益 4352 万元并入选广西重点Station" Construction in Expressway Service Area filling a gap in the industry and providing a standardized and replicable solution for water 研发计划。

conservation in service areas nationwide.稀土耐候钢护栏累计应用2275米，实现25年免维护，节约8.5万元。

Piloting at Cangnan Service Area a three-in-one water conservation

system of "facility upgrade scientific management and publicity “水泥毯”工艺治理边坡 3887.79 平方米，节约养护成本 23.95 万元，推动资源利用与降本增效协同。

guidance" was established achieving 100% coverage of both Guilin subsidiary focused on efficient resource utilization and recycling achieving four technological breakthroughs:

water-saving fixtures and water metering devices reducing water Existing road marking restoring technology extended service life by 30% and increased efficiency by two times generating RMB 5 million in

consumption per vehicle to 26.07 liters. benefits.The River Water Diversion project has been implemented saving Rapid slope in-situ treatment technology saved 5%-15% on construction investment and 10%-30% on operational costs achieving RMB 43.52 million in technology transfer benefits and being selected for the Guangxi Key R&D Program.

30000 to 40000 tons of municipal tap water annually achieving

both ecological and economic benefits. 2275 meters of rare earth weathering steel guardrails and their applications were installed offering 25-year maintenance-free

performance and saving RMB 85000.甬台温高速生态水循环再生系统 The "cement blanket" process treated 3887.79 square meters of slopes saving RMB 239500 in maintenance costs promoting the

The ecological water recycling and reclamation system of Ningbo-Taizhou-Wenzhou Expressway synergy of resource utilization with cost reduction and efficiency enhancement.

8687招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

应对气候变化管理层总部－各低碳管理职能部门

Management level

The low-carbon management functional departments at the headquarters

CLIMATE CHANGE RESPONSE 对所属公司的节能降碳工作进行支持服务和引导管理，确保“支持到位、管理有效”。

The management level provide support services and guidance management for the energy conservation and carbon reduction work of

招商公路建立健全气候治理架构，制定低碳战略规划，系统识别、评估气候相关风险与机遇，持续完善碳排放统计监测体系， subsidiaries ensuring "timely support and effective management".推动公路网络绿色低碳转型。公司“双碳”目标制定与更新，以及清洁能源业务的发展战略发展部

Formulates and updates the Company's Dual Carbon goals and development of clean energy

CMET has established a sound climate governance structure formulated a low-carbon strategic plan systematically identified and assessed Strategic & Development Department

business

climate-related risks and opportunities and continuously improved the carbon emission statistics and monitoring system to promote the

green and low-carbon transformation of expressway network.资本运营部 ESG 相关体系建设与信息披露

治理 Capital Operation Department Develops ESG-related framework and conducts information disclosure

GOVERNANCE 监督管理、指导协调各单位开展能源消费及碳排放统计工作安全管理部

Supervises manages guides and coordinates various units in carrying out energy consumption

Safety Management Department公司将气候治理纳入公司治理的核心范畴，并确立董事会对气候变化事项的最终监督责任。依据《招商公路董事会战略 and carbon emission statistics and monitoring与可持续发展委员会工作细则》，董事会及战略与可持续发展委员会系统性识别、评估、监督与应对气候相关风险和机遇，企业管理部绿色养护减碳统筹管理工作

同时确保气候因素在战略规划、资本分配及绩效考核全流程中得到充分考量。此外，董事会将气候变化列为常规审议议题，Enterprise Management Department Coordinates green maintenance and carbon reduction management

确保公司每年至少对气候相关目标及进展进行一次信息更新，推动公司在气候行动上的有效落实。

CMET has incorporated climate governance into the core scope of corporate governance and established the ultimate oversight

responsibility of the Board for climate change matters. In accordance with the CMET Board of Directors Strategy and Sustainability Committee

Working Rules the Board and the Strategy and Sustainability Committee systematically identify assess monitor and respond to climate- 执行层

related risks and opportunities while fully considering climate factors throughout the entire process of strategic planning capital allocation 所属公司Execution level

Subsidiaries

and performance assessment. In addition the Board has listed climate change as a regular review topic ensuring that the Company updates

information on climate-related targets and progress at least once each year promoting the effective implementation of climate action. 基于公司低碳战略，开展低碳定位、业务整合、具体实施相关工作。

Based on the Company's low-carbon strategy subsidiaries carry out low-carbon positioning business integration and specific

implementation of related works.决策与监督层

Decision-making and 董事会和战略与可持续发展委员会 实行归口式职能管理，深化低碳运营管控模式，让所属公司在授权范围内负责节能降碳oversight level Board of Directors and Strategy and Sustainability Committee 业务推进高速公路运营类公司

董事会和战略与可持续发展委员会是公司气候议题的最高管治和决策机构，负责领导决策气候变化的各项工作。 Implement centralized functional management deepen low-carbon operation and managementExpressway operation subsidiaries

The Board and the Strategy and Sustainability Committee are the highest governance and decision-making bodies for climate issues models and authorize subsidiaries to promote energy conservation and carbon reduction

responsible for leading and deciding on climate change initiatives. businesses within their scope of authority

战略审批审议气候变化行动规划、战略目标及重大事项

非高速公路运营类公司围绕低碳战略，积极推进低碳业务整合与实施Strategy approval Review climate action plans strategic goals and major initiatives

Non-expressway operation Advance the integration and implementation of low-carbon business activities in alignment with

审议并监督气候相关风险与机遇的识别与管理 subsidiaries the low-carbon strategy风险评估

Review and supervise the identification and management of climate-related risks and

Risk assessment

opportunities

信息披露 负责气候信息披露文件的审批 公司推行“目标达成 +ESG 评级”双维激励模式：将气候风险管控成效与外部 ESG 评级纳入高管绩效考核，直接挂钩薪Information disclosure Approve climate information disclosure documents 酬激励；将节能减排指标纳入所属公司年度经营业绩考核，通过目标分解与过程跟踪，探索气候绩效与基层薪酬的关联。

The Company implements a dual-incentive model of "target achievement and ESG rating": the effectiveness of climate risk control

定期检讨气候战略实施进度与目标完成情况，并提出改进建议绩效监督 and external ESG ratings are incorporated into executive performance assessments directly linked to compensation incentives; energy

Regularly review progress in climate strategy implementation and target achievement and

Performance supervision conservation and emission reduction indicators are included in the annual business performance assessment of subsidiaries and through

propose improvement suggestions

target decomposition and process tracking the relationship between climate performance and grassroots compensation is explored.

8889招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025战略

STRATEGY

报告期内，我们参考中国省市气候风险指数（1993—2023 年）数据库相关气象数据，经过内部调研、安全风险辨识评估 During the Reporting Period referencing relevant meteorological data from the Chinese Climate Physical Risk Index (CCPRI 1993-2023)及多轮专家研讨，结合公司所在区域的公路类型，全面识别招商公路全价值链各环节可能遇到的与气候相关的风险与机遇。 database and through internal research safety risk identification assessments and multiple rounds of expert discussions combined withthe expressway types in the Company's operating regions CMET comprehensively identified potential climate-related risks and opportunities

across all links of its value chain.类别 影响、风险或机遇 Category Impact risk or opportunity

* 通过发展路域分布式光伏、建设充换电基础设施及利用智慧交通技术提 * Carbon emissions in the transportation industry are reduced through developing积极影响

升运输效率，降低交通运输行业碳排放 Positive impactdistributed photovoltaic systems along roadways constructing charging and

影 swapping infrastructure and utilizing smart transportation technologies to

响 improve transport efficiency

消极影响*建设与运营过程中的能源消耗，对气候变化产生消极影响Negative impact * Energy consumption during construction and operation processes negatively impacts climate change

*飓风、洪水、极寒、高温、降雨等极端天气事件的发生，会影响道路运急性风险 * The occurrence of extreme weather events including hurricanes floods extreme Acute risk

营 cold high temperatures and heavy rainfall may affect road operations

物理风险 Physical risk

* Global warming and sea-level rise may force the relocation of project

*全球变暖、海平面上升等可能迫使项目基础设施迁移，增加运营难度，慢性风险 Chronic risk infrastructure increase operational difficulty or potentially increase the

或可能增加道路交通事故频率 frequency of road traffic accidents

* Existing legal risks: The Action Plan for Carbon Dioxide Peaking Before 2030 and

* 现行法律风险：《2030 年前碳达峰行动方案》《减污降碳协同增效实 the Implementation Plan for Synergizing Reduction of Pollution and Carbon施方案》等明确要求交通行业降低碳排放强度，公司已增加投入，用于 Emission explicitly require the transportation industry to reduce carbon emissionPolicy and intensity. The Company has increased investment in equipment purchases and

政策和法律 节能减排设备购买与技术改造 law technological upgrades for energy conservation and emission reduction

风 * Emerging legal risks: The expansion of the national carbon market may impose * 新兴法律风险：全国碳市场扩容，可能对公路运营企业设定碳排放配额险 carbon emission quotas or carbon taxes on expressway operating companies.或征收碳税，若碳配额不足或税负过高，将侵蚀利润 Insufficient carbon quotas or excessive tax burdens could erode profits转型风险 * 若不能及时研发和运用如边坡光伏支架抗风设计、服务区充电桩与电网 Transition

* Failure to timely research develop and apply new technologies such as wind-

技术 Technology resistant design for slope photovoltaic supports and simultaneous expansion

扩容同步等新技术，可能会使低碳技术转型失败 risk of service area charging piles with grid capacity may lead to failed low-carbontechnology transitions

市场*同行加速新能源的开发与使用，市场竞争激烈Market * Peers are accelerating the development and use of new energy sources leading to intense market competition

* “零碳高速”宣传与实际碳排数据差距过大、服务区被曝光“伪低碳” * Public opinion events such as a significant gap between "zero-carbon

声誉 等舆情事件，可能会被环保组织起诉“虚假宣传”，引发集体诉讼，或 expressway" publicity and actual carbon emission data or service areas beingReputation exposed as "fake low carbon" could lead to environmental organizations filing

引起舆情发酵，影响公司声誉 lawsuits for "false advertising" triggering class actions or causing public opinionto ferment affecting the Company's reputation*高速公路沿线光伏、风电等可再生能源应用（如光伏路面、服务区充电能源机遇 * The application of renewable energy sources including photovoltaics and wind桩网络），能够降低运营能耗 Energy opportunity power along expressways (such as photovoltaic pavements and service areacharging pile networks) can reduce operational energy consumption

机市场机遇*积极推进交通场景下的光伏业务，可以为公司拓展清洁能源市场遇 Market opportunity * Actively promoting photovoltaic businesses in transportation scenarios can expand the Company's presence in the clean energy market

*打造“零碳服务区”，集成光伏建筑、雨水回收、分布式能源站等场景，声誉机遇 * Creating "zero-carbon service areas" and integrating photovoltaic buildings

能够提升品牌价值 Reputation opportunity rainwater harvesting distributed energy stations and other scenarios can

enhance brand value

9091

Impact Risk Opportunity招商公路 和谐共荣 生态可持续 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

报告期内，为了更好地识别、评估和管理气候风险，公司开展覆盖招商公路全价值链的气候情景分析，以了解在不同气基于上述原则，结合法规与政策指引研究、行业信息收集、内部资料整理及外部专家讨论，我们选择政府间气候变化专候情景下，公司可能面临的物理风险、转型风险及转型机遇，从而制定具有韧性的适应和缓解策略。 门委员会（IPCC）和央行与监管机构绿色金融网络（NGFS）的情景模型开展气候情景分析。

During the Reporting Period to better identify assess and manage climate risks CMET conducted climate scenario analysis covering its Based on the above principles combined with research on laws regulations and policy guidelines industry information collection internal

entire value chain to understand the potential physical risks transition risks and transition opportunities under different climate scenarios data compilation and discussions with external experts we have selected scenario models from the Intergovernmental Panel on Climate

thereby formulating resilient adaptation and mitigation strategies. Change (IPCC) and the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) for climate scenario analysis.情景选择原则选择情景情景来源应用场景

Scenario selection principles Selected scenario Scenario source Application scope

高对比性 High contrast高排放情景由化石燃料推动的发展物理风险

——至2100 年底前，全球气温上升超过 4℃ （SSP5-8.5） （急性、慢性）不同情景之间应具有强对比性，选择的情景应代表最佳和最坏情况，以帮助公司充分评估气候变化带来的风险。通常，较高的排放情景会导致更大的物理风险，而低碳经济情景则可能带来更大的转型风险。 High emission scenario - Global temperature rise Fossil-fueled development Physical risksDifferent scenarios should have strong contrast. Selected scenarios should represent the best and worst cases to help the Company exceeding 4℃ by the end of 2100 (SSP5-8.5) (acute chronic)

fully assess the risks brought by climate change. Typically higher emission scenarios lead to greater physical risks while low-carbon

economy scenarios lead to greater transition risks.中排放情景

——至2100年底前，全球气温上升超过1.5℃，温和减排路径物理风险科学性 Scientific basis

但低于 3℃ （SSP2-4.5） （急性、慢性）

在设定情景时，应基于科学分析和模型模拟进行数据推算，确保预测具有科学依据。 Medium emission scenario - Global temperature rise Intermediate mitigation Physical risksexceeding 1.5℃ but below 3℃ by the end of 2100 pathway (SSP2-4.5) (acute chronic)

When setting scenarios data projections should be based on scientific analysis and model simulations to ensure the scientific

foundation for predictions.低排放情景

——至2100年底前，全球气温上升超过1.3℃，渐进式可持续发展物理风险平衡性 Balance 但低于 2.4℃ （SSP1-2.6） （急性、慢性）

temperature rise exceeding 1.3 ℃ but below 2.4 ℃ by the Gradual sustainable Physical risks制定的情景应充分考虑实体和社会经济的双重影响。

end of 2100 development (SSP1-2.6) (acute chronic)

Established scenarios should fully consider the dual impacts on the physical and socio-economic aspects.有序情景转型风险

——至2100年底前，全球气温上升不超过1.5℃2050年净零排放情景转型机遇Orderly scenario - Global temperature rise not exceeding Net zero scenario in 2050 Transition risks transition

1.5℃ by the end of 2100 opportunities

现行政策情景转型风险

——至2100年底前，全球气温上升超过3℃现行政策情景转型机遇Current policies scenario - Global temperature rise Current policies scenario Transition risks transition

exceeding 3℃ by the end of 2100 opportunities

9293招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

公司综合考量气候风险本身的特性及企业经营周期与战略管理，划定气候相关风险与机遇影响的时间范围： CMET comprehensively considers the characteristics of climate risks as well as its operating cycle and strategic management to definethe time frames for climate-related risks and opportunities:

短期（2030年以内）中期（2030年—2050年）长期（2050年以后）Short term (within 2030) Medium term (2030-2050) Long term (beyond 2050)

1

风险 / 机遇 1 Value chain Risk and opportunity time frame

风险 / 机遇类型 价值链影响 潜在财务影响 Risk and opportunity type Potential financial impactimpact

短期 中期 长期 Short term Medium term Long term

* Rising maintenance costs (slope emergency

* 养护成本上升（边坡抢修、设备更换）。应 repairs equipment replacement). Surge inTyphoon Own emergency rescue costs and insurance expenses 急救援费用及保险费用激增（人员安全风台风 / 暴雨 自身运营 heavy rain operations (personnel safety risks); increased photovoltaic险）；光伏设备维修 / 更换成本增加（能源 equipment repair and replacement costs (energy供应中断损失）。 supply interruption losses).Acute * Regions in Huanghuai area Jiangnan area North

急性物*黄淮、江南、华北、华南区域易发生洪水/

China and South China prone to floods and

physical Flood and Downstream

waterlogging leading to surge in emergency理风险 洪水 / 洪涝 下游价值链 洪涝，导致应急救援费用及保险费用激增（人 waterlogging value chainrisk rescue costs and insurance expenses (personnel员安全风险）。 safety risks).* Southwest regions prone to wildfires due to dry

* 西南区域因气候干燥、雷击火频发、地形复 climate frequent lightning-induced fires and Own

Wildfire complex terrain leading to surge in emergency

山火 自身运营 杂，易发生山火，导致应急救援费用及保险 operations rescue costs and insurance expenses (personnel费用激增（人员安全风险）。 safety risks).* Supplier interruptions rising raw material prices.* 供应商中断，原料价格上涨。 Significantly * Rising maintenance costs (slope emergency* 养护成本上升（边坡抢修、设备更换）。 Upstream value repairs equipment replacement).increasing上游价值链 chain own* Surge in emergency rescue costs and insurance 极端气候程度 * 应急救援费用及保险费用激增（人员安全风 severity of operations自身运营 downstream expenses (personnel safety risks).严重增加 险）。 extreme value chain下游价值链 * Increased photovoltaic equipment repair and weather events* 光伏设备维修 / 更换成本增加（能源供应中 replacement costs (energy supply interruptionlosses).断损失）。

Own * Rising slope reinforcement costs.operations

自身运营 * 边坡加固成本上升。 Soil erosion downstream * Increased accident susceptibility leading to水土流失 value chain higher insurance expenses.下游价值链 * 意外事故易发生，导致保险费用支出增加。 Chronic* Increased maintenance frequency (rising labor v 慢性物 physical

Own and material costs).理风险 * 养护频率增加（人工 / 材料成本上升）。 risk Rising average operations自身运营 * Rising costs for equipment cooling system temperatures downstream

平均气温上升 * 设备散热系统改造、充电桩 / 配电房设备维 value chain modification and charging pile and switchgear

下游价值链 room equipment maintenance.修费成本上升。

* In coastal and riverside expressway sections

Own in Jiangnan area and North China r ising

Sea-level rise

* 江南、华北区域沿海 / 沿江的高速路段，防 operations operational costs for protective facility upgrades海平面上升 自身运营 (such as seawall reinforcement).护设施升级（如防潮堤加固）运营成本上升。

* In Huanghuai area and North China i t is

n e ce s s a r y t o f o c u s o n co st p r e s s u r e o f

Own maintenance water use (such as sprinkling

* 黄淮、华北区域需关注水资源短缺对养护用 Water scarcity operations for dust reduction) due to water scarcity (may

水资源短缺 自身运营 水（如洒水降尘）的成本压力（可能增加人 increase labor and mechanical substitutioncosts).工/机械替代成本）。

※ 注释： ※ Note:

1. 颜色由深到浅分别代表风险程度高、中、低。 1.Color shades indicate high medium and low risk levels respectively.

9495招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

风险 / 机遇 Risk and opportunity time frameRisk and opportunity Value chain

风险 / 机遇类型 价值链影响 潜在财务影响 Potential financial impact

1 type impact短期 中期 长期 Short term 1 Medium term Long term

* 设备改造、环评合规、产权登记、能源专项等 * Increased operational costs for equipment modification

environmental compliance property rights registration and运营成本增加。 energy special projects.法律与政策风 * 融资与资产处置难度加大，资金成本上升（财 Policy and Own * Increased difficulty in financing and asset disposal rising 自身运营 legal risk operations capital costs (increased financial expenses).险务费用增加）。

* Significantly increased management complexity system

* 短期内显著增加管理复杂度、系统搭建及人 construction and labor costs in the short term.力成本。

* Necessity to procure higher-priced standard-compliant

* 需采购符合标准的更高价建材，采购成本上 building materials leading to rising procurement costs.升。 Upstream * Need for additional technology upgrade investments leading上游价值链 Technology value to increased R&D and modification costs.技术风险 * 需追加技改投资，研发或改造成本增加。 risk chain own自身运营 operations * Decreased customer satisfaction leading to reduced

* 客户满意度下降可能导致客流量减少；需额 passenger flow; additional investment required to resolve 转型风 synchronization issues leading to increased operational

险外投入解决同步问题，运营成本增加。

Transition costs.risk

* 采购成本不稳定，可能导致养护预算超支。 * Unstable procurement costs leading to maintenance budget上游价值链 overruns.市场风险 * 路产及光伏项目 IRR 降低，资产价值下降。 Upstream自身运营 value * Decreased internal rate of return (IRR) of road assets and Market risk

* 投资回报周期延长，投资回报率降低。 chain own photovoltaic projects declining asset values.operations* ESG 评级下调，绿色债券融资成本上升（财 * Extended investment payback periods reduced return oninvestment.务费用增加）。

上游价值链

* Downgraded ESG ratings and rising green bond financing

*引发集体诉讼导致赔偿费用增加；品牌价值

Upstream costs (increased financial expenses).声誉风险 自身运营受损。 valueCollective litigation leading to increased compensation

下游价值链 Reputation chain own *

* 合作伙伴失去业务机会（间接成本）；舆情发 risk operations costs damaging brand value.downstream

酵导致客户流失，收入下降。 value chain * Partners losing business opportunities (indirect costs) publicopinion fermentation leading to customer loss declining

revenue.*业务拓展：从单一通行费转向“交通+能源”

* Business expansion: shifting from single toll income to 综合服务，拓展增值服务以增加收入。

自身运营 "transportation + energy" integrated services expanding value-

能源机遇 * 降低外购电力依赖、提升能源自给率，优化 Own added services to increase revenue.下游价值链 Energy operations降本，实现自发自用，探索与电网双向售电获 * Reducing dependence on purchased electricity improving opportunity downstreamenergy self-sufficiency rate optimizing cost reduction

得额外收益的可能性。 value chain achieving self-generation and self-use and exploringpotential for additional revenue through two-way electricity

* 市场扩容：积极探索切入低碳基建赛道契机， sales with the grid.转型机

自身运营 新项目收入增加。 * Market expansion: actively exploring opportunities to enter the遇 市场机遇 Transition Own low-carbon infrastructure sector increasing revenue from new

下游价值链 * 尝试借助政府补贴、专项债及吸引长期机构 opportunity Market operations projects.opportunity downstream

投资者、长期投资，降低融资成本。 * Attempting to leverage government subsidies and special value chainbonds and attract long-term institutional investors for long-

* 积极探索通过 CCER 开发、绿色认证溢价增 term investment reducing financing costs.加收入；品牌升级为“可持续交通解决方案 Actively exploring opportunities to increase revenue through声誉机遇自身运营*提供商”，增强客户黏性（客户留存率提高， Reputation Own CCER development and green certification premiumsopportunity operations upgrading brand to "sustainable transportation solution收入稳定）。 provider" and enhancing customer loyalty (increasedcustomer retention rate for stable revenue).后续，公司将制定专项气候应对计划并纳入长期战略规划，持续强化气候风险管理，在筑牢公路主业运营防线的同时， Subsequently the Company will formulate a special climate response plan and integrate it into the long-term strategic planning积极把握交能融合、智慧运营、绿色养护等技术革新机遇，提升公司的气候韧性。 continuously strengthen climate risk management and actively seize technological innovation opportunities including transportation-energy integration smart operations and green maintenance to enhance the Company's climate resilience while consolidating the defense

※ 注释： line of core expressway operations.

1. 表中物理风险等级基于“高排放情景——SSP5-8.5（IPCC）”评估结果，转型风险 / 机遇等级基于“有序情景——2050 年净零排放情景（NGFS）” ※ Note:评估结果。 1.Physical risk levels in the table are based on the assessment results of the "High emission scenario — SSP5-8.5 (IPCC)." Transition riskand opportunity levels are based on the assessment results of the "Orderly scenario — Net zero scenario in 2050 (NGFS)."

9697招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

影响、风险和机遇管理 风险与机遇评估 Risk and opportunity assessment

IMPACT RISK AND OPPORTUNITY MANAGEMENT

公司针对影响业务策略及运营的重大气候因素，开展定性与定量相结合的评估。

公司建立了“识别、评估、应对与优化”的闭环气候风险管理机制，同时将气候风险深度融入公司整体风险管理框架。 The Company conducts qualitative and quantitative assessments of significant climate factors affecting business strategy andoperations.The Company has established a closed-loop climate risk management mechanism of "identification assessment response and

optimization" while deeply integrating climate risk into the overall risk management framework. 情景分析 综合评估

Scenario analysis Comprehensive assessment

风险与机遇识别 Risk and opportunity identification 依托外部数据平台及专业工具，结合各业务板块的地理 基于内部风险评估体系，梳理关键业务流程，综合考量区域特征与运营模式，开展气候情景分析。风险与机遇发生的可能性及影响程度。

公司采取“自下而上采集”与“自上而下评估”相结合的双向识别机制。 Climate scenario analysis is conducted using external Based on the internal risk assessment system key businessThe Company adopts a two-way identification mechanism combining "bottom-up collection" and "top-down assessment". data platforms and professional tools combined with the processes are reviewed comprehensively considering the

geographical characteristics and operational models of likelihood and impact of risks and opportunities.each business sector.信息采集多维分析决策审定

Information collection Multi-dimensional analysis Decision review

风险与机遇应对 Risk and opportunity response

各所属公司按季度动态监测政总部－各低碳管理职能部门通该清单经董事会战略与可持续发公司通过动态优化措施应对气候风险与机遇。

策法规变动、外部 ESG 审计要 过同业对标识别管控盲区，在 展委员会复核，最终审定为年度 The Company addresses climate risks and opportunities through dynamic optimization measures.求及行业技术替代趋势，建立第三方外部专家协助下，从物重点管控对象。

初步气候风险库。理风险、转型风险及转型机遇策略制定体系融合绩效监控三个维度进行深度梳理，编制 Strategy formulation System integration Performance monitoring《气候风险机遇清单》。

Subsidiaries dynamically monitor Headquarters' various low-car- The list is reviewed by the Strate- 深入分析重大风险成因，针对不 将气候变化因素正式纳入风险管 设定减少废气与碳排放、降低水与能源policy and regulatory changes bon management functional gy and Sustainability Committee 同性质的风险采取减少、接受、 理程序，制定《招商公路高速公 消耗、提升水循环率及清洁能源使用比external ESG audit requirements departments identify control under the Board and ultimately

and industry technology substi- blind spots through peer bench- approved as annual key manage- 规避或分担等差异化应对策略； 路安全风险辨识评估及分级管控 例等核心环境指标。各所属公司定期上tution trends on a quarterly basis marking. With the assistance of ment priorities. 制定应急预案并建立预警机制， 清单》，实现标准化管理。 报数据，由安全管理部负责监督执行效establishing a preliminary climate external experts they conduct

risk database. in-depth analysis from three di- 确保控制措施的动态调整。 果，并向战略与可持续发展委员会及董mensions namely physical risks 事会提交改进建议，助力公司实现减缓transition risks and transition op- 与适应气候变化的双重目标。

portunities compiling a Climate

Risk and Opportunity List. Conduct in-depth analysis of the Formally incorporate climate Set core environmental indicators in-

causes of significant risks adopt change factors into risk manage- cluding reducing exhaust and carbon

differentiated response strategies ment procedures formulate the emissions reducing water and energy

including reduction acceptance CMET Expressway Safety Risk consumption improving water recycling

avoidance or sharing for risks Identification Assessment and rates and increasing the proportion of

of different natures formulate Hierarchical Control Checklist to clean energy use. Subsidiaries regularly

emergency plans and establish achieve standardized manage- report data with the Safety Management

early warning mechanisms to ment. Department responsible for supervising

ensure dynamic adjustment of implementation effectiveness and submit-

control measures. ting improvement recommendations to

the Strategy and Sustainability Committee

and the Board assisting the Company

achieve the dual goals of climate change

mitigation and adaptation.招商公路阳平高速

CMET Yangshuo-Pingle Expressway

9899招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025类型韧性措施及计划类型韧性措施及计划

Type Resilience measures and plans Type Resilience measures and plans

物理风险 Physical risk 物理风险 Physical risk

*制度管理：编制《自然灾害综合应急预案》，明确组织指挥体系、灾害分级响应机制、全流程管理措施及资源保障体系。

*员工培训：加强员工自然灾害安全培训和定期组织应急演练，提升员工安全*日常监测：定期监测极端天气长期趋势动态，及时排查维修设施情况，提升意识和应急救援能力。抗风险能力。

*分级预警：结合自然环境、车流量、结构物风险等级综合计算预警等级，通极端气候程度*设备升级改造：对光伏逆变器实施防水改造，并加装智能断路器，极端天气台风 / 暴雨 过可变情报板、导航 App 推送精准警示信息；定时更新台风 / 暴雨、洪水 / 下自动切断并远程重启，减少设备损毁。

Typhoon and heavy rain 洪涝等灾害地图；在山区的高速路段，建立完善森林火灾监测和预警系统。

严重增加

定期清理山区高速路段周围的干枯植被及易燃材料，降低野火风险，并且种 Significantly increasingseverity of extreme * Daily monitoring: Regularly monitor long-term trends of extreme weather events timely

植抗火植物，增强周围生态系统的韧性。

weather events inspect and repair facilities to enhance risk resistance capabilities.* 日常监测及工程加固：排查建筑、排水系统等风险隐患，做好加固或拆除工作， * Equipment upgrades: Implement waterproofing modifications for photovoltaic inverters做好断电停工安排，有效应对台风 / 暴雨天气；强化高速路段排水设计与设 and install smart circuit breakers to automatically cut off and remotely restart under急 施增改，铺筑透水抗滑路面。 extreme weather conditions reducing equipment damage.性慢

物*供应链管理：促进供应商多元化布局，督促供应商提升风险管理和应急响应性理物风能力。理险风

*财务储备：购买相关保险，灾后快速定损赔付，并预留应急资金以应对因自险然灾害造成的损失及维护费用。

* Institutional management: Formulate the Comprehensive Emergency Plan for Natural

Disasters clarifying the organizational command system disaster graded response

*分级预警：结合自然环境、车流量、结构物风险等级综合计算预警等级，通mechanism whole-process management measures and resource guarantee system.过可变情报板、导航 App 推送精准警示信息。

洪水 / 洪涝 * Employee training: Strengthen employee safety training for natural disasters and

Flood and waterlogging regularly organize emergency drills to enhance employee safety awareness and emergency

*工程加固：结合养护工作，对易滑坡路段实施锚杆格构、抗滑桩等逐步实施rescue capabilities.加固工程，优化排水系统设计，如增设截水沟、渗水盲沟。

* Graded warning: Comprehensively calculate warning levels based on the natural

environment traffic volume and structural risk levels push precise warnings through

*应用韧性设计标准：在边坡养护施工方案中尽可能采取符合特殊条件地形设

variable message signs and navigation apps regularly update disaster maps for typhoons

计建设标准，进一步提高防洪、抗震等级，推广柔性防护网等新技术应用。

heavy rain floods waterlogging and other disasters establish comprehensive forest fire

monitoring and warning systems in mountainous expressway sections regularly clear dry

* Graded warning: Comprehensively calculate warning levels based on the natural

vegetation and flammable materials around mountainous expressway sections to reduce 水土流失

environment traffic volume and structural risk levels and push precise warnings through

wildfire risk and plant fire-resistant plants to enhance the resilience of the surrounding Soil erosion

variable message signs and navigation apps.ecosystem.* Engineering reinforcement: In conjunction with maintenance work gradually implement

* Daily monitoring and engineering reinforcement: Investigate risks and hazards in

reinforcement projects including anchor lattice beams and anti-slide piles for landslide-

buildings drainage systems and other facilities carry out reinforcement or demolition

prone sections and optimize drainage system design such as adding intercepting ditches

work make arrangements for power outages and work suspensions to effectively respond

and seepage blind drains.to typhoon and heavy rain weather and strengthen drainage design and facility upgrades

for expressway sections paving permeable and anti-skid pavements. * Application of resilient design standards: Where possible adopt terrain-adapted design

and construction standards for slope maintenance construction plans to further improve

山火 * Supply chain management: Promote diversified supplier layout and urge suppliers to

flood and earthquake resistance levels and promote the application of new technologies

enhance risk management and emergency response capabilities.Wildfire

such as flexible protection nets.* Financial reserves: Purchase relevant insurance for rapid loss assessment and

claims payment after disasters and reserve emergency funds to cope with losses and

maintenance costs caused by natural disasters.

100101

Chronic physical risk

Acute physical risk招商公路 和谐共荣 生态可持续 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025类型韧性措施及计划类型韧性措施及计划

Type Resilience measures and plans Type Resilience measures and plans

物理风险 Physical risk 转型风险 Transition risk

*分级预警：结合自然环境、车流量、结构物风险等级综合计算预警等级，通*机制建设：建立气候法规动态响应机制，协同内外部资源与各业务部门及所过可变情报板、导航 App 推送精准警示信息。 属公司推进能效提升与碳足迹管理体系建设。

当前法规风险

*员工管理：合理安排户外养护工作时间，避免在高温时段进行高强度作业，*制度管理：制定《节能环保考核管理办法》《能源消费和碳排放统计监测管环境政策与法规趋严为员工提供防暑降温用品。理办法》，健全自身运营碳排放的数据管理及信息披露的常态化管理机制。

Current regulatory risk:

* 设备管理：对充电桩加装液冷散热模块，在高温天气下维持较高效率，维修 * 日常管理：持续监测国家、地区政策，识别政策热点，将气候变化因素及时Increasingly stringent平均气温上升周期延长。 法 environmental policies 纳入战略决策考量中。

Rising average 律 and regulations

temperatures 与 * 员工培训：定期对相关员工开展培训，及时沟通分享信息，确保运营合规。

* Graded warning: Comprehensively calculate warning levels based on the natural 政

environment traffic volume and structural risk levels push precise warnings through 策 * 政策探索：探索内部碳定价机制，内化碳成本，提升绿色融资能力。

variable message signs and navigation apps. 风

险 * Mechanism building: Establish a dynamic climate regulation response mechanism

* Employee management: Rationally schedule outdoor maintenance work hours avoid synergize internal and external resources with various business departments and

慢 high-intensity work during high-temperature periods and provide employees with subsidiaries to promote energy efficiency improvement and carbon footprint management性

heatstroke prevention and cooling supplies. system construction.物新兴法规风险

理 * Equipment management: Install liquid cooling modules for charging piles to maintain * Institutional management: Formulate the Energy Conservation and Environmental风碳定价机制应用

higher efficiency during high-temperature weather extending maintenance cycles. Protection Assessment Management Measures and the Administrative Measures on 险

Emerging regulatory risk: Statistical Monitoring for Energy Consumption and Carbon Emission improving the

Application of carbon

normalized management mechanism for carbon emission data management and

pricing mechanisms

information disclosure from own operations.* 日常监测：在天津、宁波等低洼沿海高速路段，定期监测海平面上升情况， * Daily management: Continuously monitor national and regional policies identify policy海平面上升 hotspots and timely incorporate climate change factors into strategic decision-making 及时排查维修设施，提升抗风险能力。

Sea-level rise considerations.* Daily monitoring: On low-lying coastal expressway sections in Tianjin City Ningbo City * Employee training: Regularly conduct training for relevant employees promptly

and other locations regularly monitor sea-level rise timely inspect and repair facilities to communicate and share information to ensure operational compliance.enhance risk resistance capabilities.* Policy exploration: Explore internal carbon pricing mechanisms internalize carbon costs

and enhance green financing capabilities.*日常监测及评估：管理供排水设施和用水设备，常态化开展水计量管理、水*低碳技术推广：推广应用“四新技术”，包括就地热再生、全组分固废再生、平衡测试、水风险评估、重点用水单位增效行动等，提高水资源循环利用率。

超薄磨耗层罩面、旧标线覆用等技术。

*设备升级：推动用水设备绿色低碳改造，引入空气制水设备+再生水回用系统，*研发创新：应用低碳创新能力，积极申请专利，丰富专利数量及种类；建立水资源短缺提升节水回用效率。

技低碳养护技术内部技术研发投入的经济性评估体系，提高创新激励；招募低碳类新技术研Water scarcity 术

* Daily monitoring and assessment: Manage water supply and drainage facilities and 风 研发和使用 发人才，加强对员工创新能力的培养，开展产学研合作。

water-using equipment routinely carry out water metering management water balance 险 R&D and use of * Low-carbon technology promotion: Promote the application of four new technologies:

testing water risk assessment and efficiency improvement actions for key water users to low-carbon maintenance

hot in-place recycling full-component solid waste recycling ultra-thin wearing course

improve water recycling rates. technologies

overlay and existing road marking restoring.* Equipment upgrades: Promote green and low-carbon transformation of water-using

* R&D and innovation: Apply low-carbon innovation capabilities actively apply for patents

equipment introduce atmospheric water generators and reclaimed water reuse systems

enrich patent quantity and types establish an economic evaluation system for internal

to improve water saving and reuse efficiency.technology R&D investment to increase innovation incentives recruit R&D talent for new

low-carbon technologies strengthen the cultivation of employees' innovation capabilities

and carry out industry-university-research cooperation.

102103

Policy and legal risk Technology risk

Chronic physical risk招商公路 和谐共荣 生态可持续 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025类型韧性措施及计划类型韧性措施及计划

Type Resilience measures and plans Type Resilience measures and plans

转型风险 Transition risk 转型机遇 Transition opportunity*清洁能源布局：优化投资组合，重点布局“交通+能源”一体化项目（如服务区光伏+储能、沿线风电配套），通过能源赋能道路运营，增加路域收入，对冲波动。

*日常管理：深入开展市场调研，追踪并把握消费者/投资者的偏好和最新需求，*清洁能源产业运营及探索：积极推动公司绿色低碳发展，打造低碳公路，依消费者/投资者及时迭代升级相关设施及服务，提升市场竞争力。托交通场景及集团相关资源，拓展光伏、储能、充电等综合清洁能源投资运行为变化

* Clean energy deployment: Optimize the investment portfolio focus on deploying 营，服务交通主业；充分利用参股、基金等多种模式逐步实现绿色产业布局；

Changes in "transportation + energy" integrated projects (such as photovoltaic + energy storage 清洁能源使用

继续深化绿色新能源业务探索，寻求公路转型机遇。

consumer and investor in service areas roadside wind power supporting facilities) empower road operations Clean energy

behaviors through energy integration boost roadside revenue and hedge against volatility. utilization

* Clean energy industry operation and exploration: Actively promote the Company's

* Daily management: Conduct in-depth market research track and grasp consumer and

green and low-carbon development build low-carbon expressways leverage

市 investor preferences and latest demands timely iterate and upgrade related facilities and

场 transportation scenarios and CMG-related resources to expand integrated clean energy services to enhance market competitiveness.风 investment and operation in photovoltaics energy storage and charging and serve the

险 core transportation business fully utilize equity participation funds and other models to

gradually achieve green industry layout and continue to deepen exploration of green new

* 机制建设：建立原材料价格预警制度，嵌入气候调价条款，锁定涨幅上限。 energy businesses and seek expressway transformation opportunities.能

*材料替代：推广旧标线覆用、全组分固废再生等技术，替代原材料使用。

原材料源

成本上涨 机* Mechanism building: Establish a raw material price early warning system embed climate遇

Rising raw adjustment clauses and lock in upper price limits.material costs * Material substitution: Promote technologies such as existing road marking restoring and

full-component solid waste recycling to replace raw material use.*制度管理：制定《节能环保考核管理办法》《能源消费和碳排放统计监测管理办法》，建立节能环保监督考核机制。

*机制建设：建立跨省互济机制，提升应急物资联动能力。

*日常管理：完善“能源管理平台”，监控能源消耗、光伏储能、充电设施运*日常管理：持续评估供应商供货能力，优化转运路线及应对措施。

供应链中断行状态，提升资源利用效率。

* Mechanism building: Establish cross-provincial mutual aid mechanisms to enhance

Supply chain

emergency material linkage capabilities. * 低碳运营：推广隧道照明节能、公务用车绿色化，降低能源消耗。

interruption 资源效率提升

* Daily management: Continuously evaluate supplier delivery capabilities and optimize

Resource efficiency

transfer routes and response measures.enhancement * Institutional management: Formulate the Energy Conservation and Environmental

Protection Assessment Management Measures and the Administrative Measures on

* 碳排放目标管理：探索制定科学的范围 1、2、3 温室气体减排目标和减排路径， Statistical Monitoring for Energy Consumption and Carbon Emission establishing对目标及进展进行公开披露，打造低碳品牌溢价。 an energy conservation and environmental protection supervision and assessment声 mechanism.誉*信息披露：在官网、年度可持续发展报告、气候相关信息披露报告等途径向各

风 * Daily management: Improve the energy management platform to monitor energy

险利益相关方及时、详细披露年度气候信息和绩效，保障信息的透明度和可靠性。

consumption photovoltaic energy storage and charging facility operating status企业声誉受损

* Carbon emission target management: Explore setting scientific reduction targets improving resource utilization efficiency.Corporate reputation and pathways for Scope 1 2 and 3 greenhouse gas (GHG) emissions publicly disclose

damage * Low-carbon operations: Promote tunnel lighting energy conservation and official vehicle targets and progress and build a low-carbon brand premium.greening to reduce energy consumption.* Information disclosure: Timely and thoroughly disclose annual climate information

and performance to stakeholders through the official website annual sustainability

report climate-related information disclosure reports and other channels ensuring

information transparency and reliability.

104105

Energy opportunity

Market risk Reputation risk招商公路 和谐共荣 生态可持续 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025类型韧性措施及计划类型韧性措施及计划

Type Resilience measures and plans Type Resilience measures and plans

转型机遇 Transition opportunity 转型机遇 Transition opportunity

*清洁能源市场布局：

*碳排放管理：建立企业碳资产台账（涵盖范围1、2、3排放），定期公开披*以试点成功经验为基础，向省内其他高速路段及邻省重点交通枢纽复制“光储声露相关数据，积极探索通过碳交易市场实现碳收益。充换”模式；同步探索“公路+光伏”土地综合利用（如边坡光伏、停车场光伏）。誉机

*低碳品牌打造：在甬台温高速成功建成“零碳服务区”成功案例，并在京津*整合路网沿线能源资源（光伏、储能、充电桩），积极搭建“源—网—荷—储”遇气候绿色行动塘高速试点零碳公路，未来将复制相关经验，不断提升道路气候韧性。

一体化交通能源平台，打造绿电直联供应模式，向周边工业园区、社区提供绿Climate and green电供应，拓展消纳场景，开辟新业务线打造新的增长曲线。 * Carbon emission management: Establish a corporate carbon asset ledger (covering进入新市场 initiatives Scope 1 2 and 3 emissions) regularly publicly disclose relevant data and actively explore

* Clean energy market deployment: carbon revenue through the carbon trading market.Entry into new

markets * Based on successful pilot experiences replicate the "photovoltaic storage charging and * Low-carbon brand building: Successfully built a "zero-carbon service area" pilot on the

swapping" model to other expressway sections in the province and key transportation Ningbo-Taizhou-Wenzhou Expressway piloted a zero-carbon expressway on the Beijing-

hubs in neighboring provinces and simultaneously explore comprehensive land Tianjin-Tanggu Expressway and plans to replicate relevant experience in the future to

utilization for "expressway + photovoltaics" (such as slope photovoltaics parking lot continuously improve road climate resilience.photovoltaics).* Integrate energy resources along the road network (photovoltaics energy storage

charging piles) ac tively build an integrated "source gr id load and storage"

transportation energy platform create a direct green power supply model provide green

市 power supply to surrounding industrial parks and communities expand scenarios for

场 green power consumption and open up new business lines to create new growth curves.机重庆公司使用“云眼”智能监测系统监测山区道路安全案例

遇 Chongqing subsidiary leverages CloudEye intelligent monitoring system to monitor mountainous road safety CASE

针对西南山区雨季地质灾害频发的挑战，招商公路重庆公司联合招商交科研发投用“云眼”可视化边坡智能监测系统，*资产管理：搭建资产管理平台，强化平台管理，扩大轻资产经营收益；推进获得可持续发展 REITs 落地，通过募投管退一体化运作，盘活存量资产；探索绿色贷款、绿色实现重点边坡监测全覆盖。系统自动采集边坡表面变形、深部位移等关键数据，依托云平台进行智能分析与实时预警；

相关融资债券等绿色金融工具应用。“气象自适应”功能根据降雨量自动调节监测频次，在极端天气下实施加密监测，推动边坡养护向精细化、预防性管Access to sustainability- * Asset management: Build an asset management platform strengthen platform理模式转型。

related financing management expand light-asset operating income promote the implementation

of REITs revitalize stock assets through the integrated operation of "fundraising Addressing the challenge of frequent geological disasters in the southwestern mountainous region during rainy seasons Chongqing subsidiary in

investment management and exit" and explore the application of green financial collaboration with CMCT developed and commissioned the CloudEye visualized slope intelligent monitoring system achieving comprehensive

instruments such as green loans and green bonds. monitoring coverage of key slopes. The system automatically collects key data such as slope surface deformation and deep displacement con-

ducting intelligent analysis and

real-time warning via the cloud

* 循环机制建设：建立“公路废弃物－再生材料－工程建设”闭环机制，将废旧 platform. The "weather-adap-沥青、废钢材等统一回收，加工为再生骨料、再生沥青，优先用于公司新建或 tive" function automatically养护项目，减少外部采购依赖。 adjusts monitoring frequencybased on rainfall implementing* 技术升级及应用：升级推广低碳循环养护技术（如废胶粉改性沥青，即利用废 enhanced monitoring during循环经济旧轮胎胶粉替代部分沥青），减少新材料消耗。 extreme weather promoting theCircular economy transformation of slope main-

* Circular Mechanism Building: Establish a closed-loop mechanism of "expressway waste tenance towards a refined and

recycled materials and engineering construction" uniformly recycle waste asphalt scrap preventive management model.steel and other materials process them into recycled aggregates and recycled asphalt

prioritize their use in the Company's new or maintenance projects and reduce dependence

on external procurement.* Technology upgrade and application: Upgrade and promote low-carbon circular

maintenance technologies (such as waste rubber powder modified asphalt using waste tire

招商交科“云眼”道路基础设施智能监测系统

rubber powder to replace part of the asphalt) to reduce new material consumption.CMCTs CloudEye road infrastructure intelligent monitoring system

106107

Reputation opportunity

Market opportunity招商公路 和谐共荣 生态可持续 2025 年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025指标和目标

INDICATORS AND TARGETS

招商公路以逐年降低温室气体排放强度为目标，根据《招商公路能源消费和碳排放统计监测管理办法》、ISO 14064 标 ※ 注释：

准及 GHG Protocol 对气候相关指标进行统计、监测和披露，为减排策略的有效实施提供量化管理工具和决策支持。 1. 公司温室气体排放运营边界包括直接排放（范围 1）和间接排放（范围 2 和范围 3）。

Aiming to reduce greenhouse gas emission intensity year by year CMET conducts statistics monitoring and disclosure of climate-related 2. 范围 1 温室气体直接排放主要来自汽油、柴油、天然气等使用，二氧化碳排放因子主要参考《国家温室气体排放因子indicators in accordance with the CMET Administrative Measures on Statistical Monitoring for Energy Consumption and Carbon Emissionsthe ISO 14064 Standard and the GHG Protocol providing quantitative management tools and decision-making support for the effective 数据库》。2024 年招商中铁并表计算。招商公路通过完善节能减排系统，推进公务用车绿色化和石油气改电等减排措施，implementation of emission reduction strategies. 减少天然气和液化石油气使用量。经盘查计算，范围 1 温室气体直接碳排放量减少。

3.范围2温室气体间接排放主要来自外购电力和外购热力等使用，二氧化碳排放因子主要参考《关于发布2023年电力二氧化碳排放因子的公告（生态环境部）》。2024年招商中铁并表计算。因为公司内部积极倡导清洁能源使用等环保举措，指标名称单位

202520242023在排放因子调整的共同作用下，公司温室气体排放呈现下降趋势。

Indicator unit

4.2025年度范围3盘查边界包含燃料和能源的相关活动及招商公路总部员工的差旅和通勤（不包含酒店住宿），相较

温室气体排放总量1

tCO e 54855.39 61425.42 53320.43 于 2024 年新增燃料和能源的相关活动。二氧化碳排放因子主要参考《中国产品全生命周期温室气体排放系数库》。2Total GHG emissions1

2025年度员工差旅碳排放上升的原因为差旅系统整合因公出差搭乘网约车数据，因此增加搭乘网约车产生的碳排放，

同时使用数据库最新排放因子。2025年度员工通勤碳排放上升的原因为使用数据库最新排放因子。

tCO e/ 百万营收温室气体排放强度2

tCO2e/RMB 1 million 4.11 4.83 5.48

GHG emission intensity

revenue

※ Note:范围1温室气体排放量2

tCO2e 3280.23 3671.42 7333.63

Scope 1 GHG emissions2 1.The operational boundary for the Company's GHG emissions includes direct emissions (Scope 1) and indirect emissions (Scope 2 and

Scope 3).范围2温室气体排放量3

tCO e 42938.16 57541.15 45986.80 2.Scope 1 direct GHG emissions primarily come from the use of gasoline diesel and natural gas. Carbon dioxide emission factors mainly 2

Scope 2 GHG emissions3 refer to the National Greenhouse Gas Emission Factor Database. CMCR data was consolidated in statistical calculations in 2024. CMET

reduces natural gas and liquefied petroleum gas (LPG) usage by improving energy conservation and emission reduction systems promoting

4 the greening of official vehicles and implementing emission reduction measures such as switching from petroleum gas to electricity. 范围 3 温室气体排放量

tCO2e 8637.00 212.85 / Inventory calculations show a reduction in Scope 1 direct GHG emissions.Scope 3 GHG emissions4

3.Scope 2 indirect GHG emissions primarily come from the use of purchased electricity and purchased heat. Carbon dioxide emission

factors mainly refer to the Announcement on the Release of Carbon Dioxide Emission Factors for Electricity in 2023 (Ministry of Ecology

类别3：燃料和能源相关活动

tCO2e 8350.65 / / and Environment). CMCR data was consolidated in statistical calculations in 2024.Driven by CMET's proactive promotion of environmental

Category 3: Fuel and energy related activities

initiatives such as the use of clean energy coupled with adjustments in emission factors the Company's GHG emissions have shown a

declining trend.类别6：商务差旅排放量

tCO2e 262.93 191.53 /

Category 6: Business travel emissions 4.The Scope 3 inventory boundary for 2025 includes fuel and energy related activities as well as business travel and commuting (excluding

hotel accommodation) for employees of CMET headquarters. Compared to 2024 fuel and energy related activities were newly added.Carbon dioxide emission factors mainly refer to the China Greenhouse Gas Emission Coefficient Library for Product Life Cycle. The increase

类别 7：员工通勤排放量 in employee business travel carbon emissions in 2025 is attributable to the integration of ride-hailing data into the business travel system

tCO2e 23.42 21.32 /

Category 7: Employee commuting emissions resulting in the inclusion of carbon emissions from ride-hailing services and the use of the latest emission factors from the database. The

increase in employee commuting carbon emissions in 2025 is due to the use of the latest emission factors from the database.

108109招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025

公司依据《招商公路低碳专项战略规划》发展目标扎实推进应对气候变化工作。甬台温高速构建“光储充”一体化，成功打造零碳服务区标杆案例Ningbo-Taizhou-Wenzhou Expressway integrates "photovoltaic storage and charging" successfully creating

The Company solidly advances climate change response work in accordance with the development goals of the CMET Low-carbon Strategic CASE

a zero-carbon service area benchmark

Plan for Special Initiative.甬台温高速以温州服务区为试点，创新构建“光储充”一体化能源微网，成功打造招商公路首家零碳服务区。项目战略目标 Strategic goals

通过建设 500kWp 光伏系统实现 100% 绿电供给及余电上网，配置 215kWh 智慧储能系统优化用能成本，并引入

600kW 全液冷超充提升出行体验，在实现服务区“零碳运营”的同时，通过充电服务开辟新收益增长点。

ESG 业务 公路主业 交能融合产业

ESG business Core expressway business Transportation-energy integration industry 作为温州市首个零碳服务区，该案例作为典型实践入选国务院国资委《中央企业绿色可持续发展优秀实践案例集（2025）》。

Taking Wenzhou Service Area as a pilot project Ningbo-Taizhou-Wenzhou

Expressway innovatively built a "photovoltaic storage and charging"

全 面 建 立 ESG 管 理 体 系，将 持续推进公路网节能技术创新、 发挥清洁能源业务优势，开展 integrated energy micro-grid successfully establishing CMET's first zero-ESG 指标纳入公司 KPI 考核， 净零碳服务区建设、绿色养护 交能融合技术与模式创新，提 carbon service area. The project achieves 100% green power supply and提升 ESG 评级。 等工作，加快公路主业碳减排。 升清洁能源供应能力及自给率， surplus power feed-in to the grid through the construction of a 500 kWpphotovoltaic system optimizes energy costs with a 215 kWh smart energy

提升可持续发展水平。 storage system and introduces 600 kW full-liquid cooling ultra-fast chargingto enhance the travel experience. While achieving "zero-carbon operation"

Comprehensively establish an ESG Continuously promote energy-sav- Leverage the advantages of the

for the service area it opens up new revenue growth points through

management system incorporate ing technology innovation in the clean energy business innovate in

charging services.ESG indicators into the Company's road network the construction of transportation-energy integration

KPI assessment and improve ESG net-zero carbon service areas and technologies and models and en- As the first zero-carbon service area in Wenzhou City this case was 甬台温高速温州服务区光伏布局

ratings. green maintenance accelerating hance clean energy supply capacity selected as a typical practice in the Collection of Outstanding Green Photovoltaic layout of the Wenzhou Service Area Ningbo-

carbon emission reduction in the and self-sufficiency thereby improv- and Sustainability Practices of Central Enterprises (2025) by SASAC. Taizhou-Wenzhou Expressway

core expressway business. ing sustainability performance.招商公路联合招商交科探索隧道照明节能碳资产开发路径案例

CMET collaborates with CMCT to explore carbon asset development pathways for tunnel lighting energy conservation CASE招商公路联合招商交科创新研发碳资产开发路径，依据生态环境部《温室气体自愿减排项目方法学公路隧道照明系统节能》，率先开展对主控运营高速公路的碳减排潜力测算与开发可行性分析。公司积极探索参与地方碳普惠机制、利用减排效益开展绿色金融创新等多元化价值实现路径，助力企业可持续发展。

In accordance with the Methodology for Voluntary Greenhouse Gas Emission Reduction Projects - Energy Conservation in Expressway Tunnel

Lighting Systems released by the Ministry of Ecology and Environment CMET collaborated with CMCT to innovatively develop a carbon asset

development pathway taking the lead in conducting carbon emission reduction potential calculations and development feasibility analysis

for its main operated expressways. The Company actively explores diversified value realization pathways such as participating in local carbon

inclusive mechanisms and utilizing emission reduction benefits for green finance innovation contributing to corporate sustainability.甬台温高速温州服务区能碳管理监测系统

Energy and carbon management monitoring system of the Wenzhou Service Area Ningbo-Taizhou-Wenzhou Expressway

110111招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025京津塘高速构建多维度生物多样性保护体系案例

Beijing-Tianjin-Tanggu Expressway builds a multi-dimensional biodiversity protection system CASE

生态环境保护京津塘高速针对项目沿线生态敏感性，构建覆盖施工与运营全周期的生物多样性保护体系：

Addressing the ecological sensitivity along the project route the Beijing-Tianjin-Tanggu Expressway has built a biodiversity protection system

ECOLOGICAL AND ENVIRONMENTAL PROTECTION covering the entire lifecycle of construction and operation:

招商公路在公路规划、建设、运营全生命周期中，通过构建生态廊道、守护关键物种栖息地、修复受损生态系统等行动，在动物保护方面，严格执行“零伤害”原则，严禁驱赶、捕杀鸟类或损毁鸟巢；在繁殖季节主动调减施工强度，着力降低交通网络对自然的扰动。通过最小化临时占地、施工后即时地貌恢复等措施，最大限度保护小型哺乳动物栖息地与觅食地。

Animal protection: Strictly adhere to the "zero harm" principle prohibit the driving away killing of birds or destruction of bird nests

Throughout the entire lifecycle of expressway planning construction and operation CMET strives to reduce the disturbance of the proactively reduce construction intensity during breeding seasons and maximize the protection of small mammal habitats and foraging

transportation network to nature through actions such as building ecological corridors protecting key species habitats and restoring areas through measures such as minimizing temporary land occupation and immediate topographic restoration after construction.damaged ecosystems.在植物保护方面，坚持“乡土优先”原则，选用本土物种进行生态修复，严防外来物种入侵；对工程占用区乔木实施“应移尽移”，杜绝随意砍伐。

生物多样性保护 Plant protection: Adhere to the "native priority" principle select indigenous species for ecological restoration strictly prevent the invasion of alien species implement "maximum relocation" for trees in engineering occupied areas and prohibit arbitrary felling.BIODIVERSITY CONSERVATION

公司制定并发布《招商公路生物多样性政策》，发布无毁林承诺，推动供应链与合作伙伴共同参与保护行动。我们针对在制度建设方面，同步建立“监测—监理—教育”保障机制：聘请专业技术团队开展生态监理，制定并实施自身运营及相邻地区积极开展生物多样性评估，识别相关风险，确定生物多样性相关目标和优先领域，结合缓解层次结构，施工期生态环境监测计划，持续跟踪植被群落与动物种群变化；强化全员环保教育培训，构建监督检查制度将“避免、减少、再生、恢复和改造”等缓解方法应用于优先领域，持续推进生物多样性缓解行动，努力实现净零损失目标。闭环，确保各项保护措施精准落地、成效可验。

同时，将识别的生物多样性相关风险纳入公司可持续发展整体风险管理体系中，通过系统化管理有效降低运营活动对生 Institutional development: Simultaneously establish a "monitoring supervision and education" guarantee mechanism engage物多样性的影响，实现公路建设与自然环境的和谐共生。 professional technical teams for ecological supervision formulate and implement construction period ecological environmentmonitoring plans to continuously track changes in vegetation communities and animal populations strengthen environmental

protection education and training for all employees and establish a closed-loop supervision and inspection system to ensure precise

The Company has formulated and published the CMET Biodiversity Commitment and the CMET No-Deforestation Commitment promoting

implementation and verifiable effectiveness of all protection measures.the participation of the supply chain and partners in conservation efforts. We actively conduct biodiversity assessments for our operations

and adjacent areas identify relevant risks and determine biodiversity-related goals and priority areas. Applying the mitigation hierarchy

we implement mitigation methods such as "avoid reduce regenerate restore and transform" in priority areas continuously advancing

biodiversity mitigation actions and striving to achieve the target of zero net loss. At the same time identified biodiversity-related risks 甬台温高速构建全要素生物多样性影响评估体系 案例

are integrated into CMET's overall sustainability risk management system systematically reducing the impact of operational activities on Ningbo-Taizhou-Wenzhou Expressway builds a comprehensive factor biodiversity impact assessment system CASE

biodiversity and achieving harmonious coexistence between expressway construction and the natural environment.甬台温高速坚持“生态选线、评估先行”原则，在规划设计阶段开展生物多样性专项评估，主动避让生态保护红线、自然保护地、天然林及公益林等全部敏感区域，从源头消除生态破坏风险。同步对主线、互通立交等全部工程区域及周边生态敏感区实施现场生态调查，构建覆盖物种、栖息地、生态过程与生态服务功能三大维度的全要素评估框架，严格落实保护方案。

Adhering to the principle of "ecology-based and assessment-prioritized route selection" Ningbo-Taizhou-Wenzhou Expressway conducted a

special biodiversity assessment during the planning and design phase proactively avoiding all sensitive areas including ecological protection

red lines nature reserves natural forests and public welfare forests eliminating the risk of ecological damage at the source. Simultaneously on-

site ecological investigations were carried out for all project areas including the main line and interchanges as well as surrounding ecologically

sensitive areas constructing a comprehensive factor assessment framework covering species habitats ecological processes and ecosystem

招商公路桂兴高速 service functions strictly implementing protection plans.CMET Guilin-Xing'an Expressway

112113招商公路和谐共荣生态可持续2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Thriving in Harmony: Ensuring Ecological Sustainability Sustainability Report 2025生态系统保护

ECOSYSTEM PROTECTION

公司严格落实环境影响评价制度，积极实施路域生态修复与水土保持措施，加强沿线绿化与景观维护，致力于最大限度招商交科研发隧道地下水智能监测系统守护生态平衡案例降低对自然环境的干扰，提升路域生态系统的稳定性与功能性。 CMCT develops tunnel groundwater intelligent monitoring system safeguarding ecological balance CASEThe Company strictly implements the environmental impact assessment system actively implements road-based ecological restoration 招商交科自主研发“隧道地下水排放量远程自动监测系统”解决隧道施工可能引发的地下水流失与生态破坏问题，系and soil and water conservation measures strengthens greening and landscape maintenance along the route and remains committed to

minimizing disturbance to the natural environment and enhancing the stability and functionality of the road-based ecosystem. 统集成前端传感与云端数据分析技术，实现了地下水排放量的全天候远程实时监控。目前，该系统已在四川雅康高速二郎山隧道、重庆科学城隧道等多个重点工程成功应用，有效减少含水层的过度疏干，维持了区域地下水动态平衡，规避了因水位骤降导致的岩溶塌陷等次生灾害，为隧道行业的绿色建设与生态保护提供了重要的技术支撑与实践范本。

招商生态致力于我国土壤修复事业可持续发展，通过技术创新和模式探索确定发展方向：

CMCT independently developed the "remote automatic monitoring

China Merchants Ecological Environmental Protection Technology Co. Ltd. (CMEE) commits to the sustainable development of soil system for tunnel groundwater discharge" to address potential

remediation industry of China and defines the following strategic directions through technological innovation and model exploration: groundwater loss and ecological damage caused by tunnel

construction. The system integrates front-end sensing and cloud

? 推动工业污染场地、农田、矿山等土壤污染综合治理，恢复土壤生态功能。 data analysis technologies achieving 24/7 remote real-time? Promote comprehensive soil pollution treatment for industrial sites farmland and mining areas to restore soil ecological functions. monitoring of groundwater discharge. Currently this system

has been successfully applied in multiple key projects including

开展土地整治，提高土地资源利用效率。 the Erlang Mountain Tunnel on the Ya'an-Kangding Expressway ?in Sichuan Province and the Chongqing Science City Tunnel

? Carry out land consolidation to improve the efficiency of land resource utilization. effectively reducing excessive aquifer drainage maintaining regional

groundwater dynamic balance avoiding secondary disasters such

? 为在产企业提供土壤污染风险管控服务，助力绿色发展。 as karst collapse caused by rapid water level drops and providing? Provide soil pollution risk control services for operating enterprises to support green development. important technical support and practical models for green 招商交科隧道地下水排放智能控制系统

construction and ecological protection in the tunnel industry. Tunnel groundwater discharge intelligent control system of CMCT

?推进固体废物处置与资源化利用，实现废物减量化、资源化。

? Advance solid waste disposal and resource utilization to achieve waste reduction and resource recovery.?积极参与无废城市建设，为构建生态文明贡献力量。

? Actively participate in the construction of "zero-waste cities" and contribute to the building of an ecological civilization.招商生态研发除藻等技术赋能水环境治理案例

CMEE empowers water environment management through algae removal and other technologies CASE

招商生态依托招商局集团巾帼创新工作室，聚焦水环境治理关键技术攻关，持续推进新型除藻技术、页岩气开采废水处理技术的研发与产业化应用，完成新型除藻装备的研发设计与功能验证，以科技创新赋能水生态治理全链条。

Relying on the CMG Women's Innovation Studio CMEE focuses on tackling key technologies for water environment management continuously

advances the R&D and industrial application of novel algae removal technologies and treatment technologies for shale gas extraction wastewater

and completes the R&D design and functional validation of new algae removal equipment leveraging sci-tech innovation to empower the entire

chain of water ecological management.招商交科隧道地下水排放量智能监测系统

Tunnel groundwater discharge intelligent monitoring system of CMCT招商公路阳平高速同乐段

CMET Yangshuo-Pingle Expressway (Tongle Section)

114115招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025利泽四海

成果惠社0会4招商公路切实保障员工的合法权益与成长发展，构建负责任的伙伴关系，深度融入路域社区，关注社区意见，贡献乡村振兴，服务民生需求。

BENEFITING ONE AND ALL

SHARING PROSPERITY WITH

SOCIETY

CMET earnestly safeguards the legitimate rights

and interests growth and de velopment of

employees builds responsible partnerships

员工保障 118 deeply integrates into roadside communities pays

Employee Protection attention to community opinions contributes to

rural revitalization and serves the needs of the

伙伴共赢 128 people's livelihoods.Win-Win Partnership和谐社区

Harmonious Community 130招商公路鄂东大桥

CMET Edong Bridge

116117招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025

员工保障 关键绩效 Key performance highlights

EMPLOYEE PROTECTION

劳动合同签订率100%社会保险覆盖率100%在总部范围内慰问困难员工1人

招商公路从招聘、薪酬、民主沟通、多元平等全方位保障员工的合法权益与职业发展，构建覆盖人才引进、培养、激励、

100% labor contract signing rate 100% social insurance coverage rate Within the headquarters 1 employee in

保障的全周期人才管理体系，为员工提供完善的福利保障、系统化的职业发展通道、差异化的培养计划、包容的职场氛围、 need was visited and supported健康的工作环境。

CMET comprehensively protects the legitimate rights and interests and career development of employees from the aspects of recruitment

compensation democratic communication diversity and equality. The Company has built a full-cycle talent management system covering

talent introduction cultivation incentive and protection providing employees with comprehensive benefits system systematic career

development channels differentiated training plans an inclusive workplace atmosphere and a healthy working environment.优化薪酬体系

OPTIMIZING COMPENSATION SYSTEM

坚持合规雇佣公司持续提升薪酬管理效能，依据《招商公路员工薪酬福利管理办法》《招商公路绩效管理办法》建立市场导向的薪酬体系，ENSURING COMPLIANT EMPLOYMENT 引导收入分配向价值创造者倾斜。

根据年度经营目标及年度 KPI 要求，参考各部门绩效考核指标库，按部门、层级确定绩效指标和目标值。组织各部门签公司严格遵守《劳动法》《劳动合同法》的要求，制定《招商公路员工管理规定》《招商公路员工考勤及假期管理办法》《招订《部门绩效目标责任书》，对各部门绩效进行持续追踪和阶段性分析总结，适时制定绩效指标调整方案。绩效工资包商公路员工培训进修管理办法》《招商公路薪酬福利管理办法》等制度，夯实招聘、培训、晋升、薪酬福利等关键环节的管理。括半年度绩效工资和年终绩效工资，与公司整体经营绩效、所在部门或所属公司经营绩效和员工个人绩效挂钩。报告期内，报告期内，公司运营及与供应商、合作伙伴的业务活动中未发现使用童工和强制劳工的行为。公司绩效评估覆盖100%员工。

公司保障员工年休假、事假、病假、陪产假、育儿假等合法权益，对部分工作岗位申请采取不定时工作制和综合灵活工以招商公路所属湖北鄂东长江公路大桥有限公司为例，基于目标管理方法，针对中层及以上管理人员开展年度绩效评估，时工作制度。总部实行特殊工时制度的职工人数13人，占总部在岗职工总人数的7.39%。通过线上线下调研、问卷调查普通员工每月开展一次基于个人表现的绩效评估，保障绩效反馈的及时性与改进的有效性。

等形式，针对食堂、班车、保洁等工作开展满意度调查，提升职工的获得感和幸福感。

The Company continuously optimizes the efficiency and effectiveness of compensation management. Based on the CMET Employee

Compensation and Benefits Management Measures and the CMET Performance Management Measures we have established a market-

oriented compensation system guiding income distribution towards value creators.Strictly complying with requirements of the Labor Law of the People's Republic of China and the Labor Contract Law of the People's

Republic of China the Company has formulated institutional documents including the CMET Employee Management Regulations CMET Based on annual business objectives and annual KPI requirements and referring to the performance indicator library of each department

Employee Attendance and Leave Management Measures CMET Employee Training and Further Education Management Measures and CMET performance indicators and target values are determined by department and level. The Company organizes departments to sign the

Employee Compensation and Benefits Management Measures strengthening the management in key areas such as recruitment training Departmental Performance Target Responsibility Agreements continuously tracks departmental performance conducts periodic analysis

promotion compensation and benefits. During the Reporting Period no use of child labor or forced labor was identified in the Company's and summaries and formulates performance indicator adjustment plans as appropriate. Performance-based pay including semi-

operations or in its business activities with suppliers and partners. annual performance bonus and year-end performance bonus is linked to the overall business performance of the Company the business

performance of the department and subsidiary and individual employee performance. During the Reporting Period the Company's

The Company protects employees' legitimate rights to annual leave personal leave sick leave paternity leave and parental leave. For some performance appraisal covered all employees.positions applications have been made to adopt irregular working hours and comprehensive flexible working hours. At the headquarters the

number of employees under the special working hour system is 13 accounting for 7.39% of the total employees. Through online and offline Taking CMET's subsidiary Hubei Edong Yangtze River Highway Bridge Co. Ltd. as an example performance appraisals for middle-level and

research and questionnaire surveys regarding canteens shuttle buses cleaning and other services satisfaction surveys are conducted to above management personnel are conducted annually based on management by objectives while non-managerial employees undergo

enhance employees' sense of gain and happiness. monthly individual performance appraisals ensuring the timeliness of performance feedback and the effectiveness of improvements.

118119招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025

绩效评估 Performance appraisal 员工培训

Employee training

公司围绕专业技能、管理能力、综合素养三大维度，结合岗位特点与员工发展阶段，构建了分层分类、精准滴灌的培训体系。

? 制定个人年度 KPI，并定期跟 ? Set annual KPIs and regularly follow up on goal 通过邀请行业专家授课、开展岗位练兵、组织专题研讨等多元化形式，全面提升员工专业能力与综合素养。

进目标进展 progress

The Company has developed a tiered targeted training system tailored to job characteristics and employee development stages focusing on

? Conduct multi-dimensional evaluations fully three core dimensions of professional skills management capabilities and overall competence. Through a variety of formats such as inviting

?开展多维评价，充分考虑直considering feedback from direct supervisors and industry experts to deliver lectures organizing on-the-job skills training and facilitating thematic seminars we comprehensively enhance

员工 属领导、同事的评价与反馈 colleagues employees' professional expertise and overall competence.Employees

? 进行绩效谈话，重视目标设 ? Conduct performance conversations emphasizingthe reasonableness of goal setting定的合理性

关键绩效 Key performance highlights

员工培训总投入332.91万元员工培训覆盖率100%

? 制定部门年度 KPI，明确部门 ? Set annual KPIs and clarify annual goals fordepartments

年度目标 Total investment in employee training: RMB 3.3291 Employee training coverage: 100%

million

部门 ? Organize two-way evaluations listen to employee

? 组织开展双向评价，听取员 opinions and continuously optimize managementDepartments工意见，持续优化管理方式 methods员工参与培训的总时数1204772.77小时

Total employee training hours1 : 204772.77 hours助力员工成长

SUPPORTING EMPLOYEE GROWTH

※注释：

公司始终将人才作为第一资源，通过搭建系统化、多元化的培训体系，持续激活内生动力，推动员工与企业同成长、共发展。1.包括内外部培训中全部培训类型，计算全体员工参与的培训小时总和，例如100人参加1小时培训记培训时数100小时。

※ Note:

CMET consistently regards talent as its foremost resource. By establishing a systematic and diversified training system we continuously

1.Including all types of internal and external training calculated as the sum of training hours participated in by all employees. For example

activate endogenous vitality enabling employees to grow and develop alongside the Company.

100 employees participating in a one-hour training session counts as 100 training hours.

120121招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025招商公路员工培训体系

CMET's employee training system 职业发展

Career development

?开展企业文化与制度宣贯，助力新员工快速融入团队。公司建立公平、透明的晋升机制，依据《招商公路任职资格管理办法》明确评价标准与晋升流程，为不同岗位、不同专?普及公路行业概况与公司业务基础，强化职业素养与安全规范。业背景的员工打造管理序列与专业序列的双轨晋升体系，形成“人才发展使用一盘棋”的格局。2025年，总部与所属公? Conduct corporate culture and policy dissemination to help new employees integrate 司双向交流骨干员工 16 人，通过借调、轮岗等方式从所属公司匹配专业人才 9 人到总部工作。

quickly into the team.入职培训公司聚焦建设素质好、结构优、功能强的所属领导班子目标，根据公司发展需要和各所属班子建设实际，统筹推进干部? Provide an overview of the expressway industry and the Company's core business to Orientation training

reinforce professional ethics and safety protocols. 跨单位、跨领域交流任职 13 人次。2025 年累计调整干部 46 人次。

公司鼓励员工通过学历提升实现职业成长，为员工提供多种学习便利，并为退休员工提供过渡方案。

?围绕岗位技能提升，分层分类开展业务专项培训。

? 邀请专家解读行业动态与发展趋势，拓展员工行业视野。 CMET has established a fair and transparent promotion mechanism. Based on the CMET Qualification Management Measures the Companydefines talent evaluation criteria and promotion processes creating a dual-track promotion system of management and professional sequences

?强化管理人员领导力培养，提升组织整体执行力。

for employees from different positions and professional backgrounds. We have established a qualification management system forming

? Deliver job-specific training tailored to different levels and categories to enhance a pattern of "integrated talent development and utilization". In 2025 16 core employees participated in two-way exchanges between the

professional skills. headquarters and subsidiaries 9 professional talents from subsidiaries were assigned to work at the headquarters through secondments and job

常规培训 rotation programs.? Invite experts to interpret industry trends and developments to broaden employees'

Regular training sectoral perspective. With the goal of building subsidiary leadership teams that are well-qualified optimally structured and highly effective aligning with

? development needs and the actual conditions of each subsidiary the Company has strategically promoted 13 cross-unit and cross-sector Strengthen leadership development for management personnel to enhance overall

leadership appointments. In 2025 a total of 46 leadership adjustments were made.organizational execution.We encourage employees to pursue further education for career growth provide various learning conveniences and offer transition support

? 围绕干部队伍建设，举办联学班 5 期，夯实思想根基，拓展战略视野。 for retiring employees.?面向年轻人才与科技骨干，开展专项集中培训，强化后备力量储备。

?开展应急处理培训，提升员工应急能力。

?开展合规与审计培训，筑牢公司合规防线。

? Organize five cohorts of joint learning sessions focused on building a strong leadership team

专题培训 to reinforce ideological foundations and expand strategic vision.Specialized training

? Conduct specialized intensive training programs for young talents and Sci-Tech professionals

to strengthen the pipeline of future leaders.? Provide emergency response training to enhance employees' crisis management capabilities.? Deliver compliance and audit training to reinforce the Company's compliance framework.?开展智慧公路技术培训，培养员工新技术应用能力。

?开展人工智能专题培训，提升员工数智意识。

? Offer training on smart expressway technologies to cultivate employees' capabilities in

新兴培训 applying new technologies.Forward-looking training

? Conduct specialized training on artificial intelligence to enhance employees' digital and 招商公路阳平高速

intelligent mindset. CMET Yangshuo-Pingle Expressway

122123招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025

促进多元平等 The Company attracts employees from diverse backgrounds through various channels such as campus recruitment social recruitment and internal selection providing equal employment opportunities for every employee.PROMOTING DIVERSITY AND EQUALITY The Company respects the religious beliefs and cultural backgrounds of each employee and resolutely opposes any form of discrimination

bullying or harassment. In the processes of recruitment onboarding training promotion and rewards we prohibit discriminatory

behavior and differential treatment based on factors such as gender age ethnicity and religion. During the Reporting Period the Company

人权保护 experienced no incident of discrimination or workplace harassment.Human rights protection CMET adheres to the principle of gender equality formulates fair compensation policies promotion mechanisms and training plans and

provides fair working opportunities for male and female employees based on experience and capability. At the same time the Company

公司发布《招商公路人权政策声明》，加强公司对员工及利益相关方的人权保护。包括促进职场平等及多元化，消除任 provides female employees corresponding benefits and support such as setting up nursing rooms and offering lectures on women's health何形式（包括国籍、种族、宗教、性别或年龄等多个方面）的歧视与偏见，杜绝童工及强制劳工，保障员工薪酬福利， creating a friendly and inclusive work atmosphere. During the Reporting Period the proportion of female employees remained stable with outstanding performance across all levels and positions.尊重员工各项权利，为员工提供安全、健康的工作环境，识别、预防和降低业务运营中可能涉及的人权风险等。积极推动人权政策在相关承包商、供应商及其为招商公路提供服务的长期和临时雇员中落实，对于参股企业等合作伙伴，运用 指标 单位Indicator Unit 2025 2024股东权利，最大限度地推动其政策及实践与公司人权要求保持一致。

管理层中的女性占比1

Proportion of women in management positions1 % 25.95 /

公司积极参与劳动保护、多元平等、职业健康等人权政策实施监督，通过开展人权尽职调查，实现对招聘公平性、薪酬初级管理职位中的女性占比1

平等性、职场包容性等关键内容的动态追踪。畅通员工诉求表达渠道，并制定有力的反报复政策，以便于员工寻求帮助 Proportion of women in junior management positions1 % 27.20 34和反馈问题。高级管理职位中的女性占比1Proportion of women in senior management positions1 % 0 7.14

The Company has issued the CMET Human Rights Commitment to strengthen the protection of human rights for employees and stakeholders. 创收职能部门中担任管理职务的女性比例 2

This encompasses promoting workplace equality and diversity eliminating all forms of discrimination and prejudice (including but not Proportion of women in 2management positions of revenue- % 0 16generating departments

limited to nationality race religion gender and age) prohibiting child labor and forced labor safeguarding employee compensation and

benefits respecting employees' various rights providing a safe and healthy working environment and identifying preventing and mitigating STEM 相关职位中的女性占比 3

3%2017.38

potential human rights risks in business operations. We actively promote the implementation of human rights policies among relevant Proportion of women in STEM-related positions

contractors suppliers and their long-term and temporary employees providing services to CMET. For partners such as associated enterprises 女性科技工作者人数 人 92 /

we utilize shareholder rights to maximize alignment of their policies and practices with the Company's human rights requirements. Number of female technology workers person

CMET actively participates in the supervision of human rights policy implementation in areas such as labor protection diversity and equality

and occupational health. Through conducting human rights due diligence the Company achieves dynamic tracking of key aspects including 招商公路举办“锦绣芳华 闪耀女神节”主题活动 案例

recruitment fairness pay equity and workplace inclusivity. While maintaining smooth channels for employees to express their concerns we CMET holds Gorgeous Blossoms Shining Goddess themed event CASE

have formulated a strong anti-retaliation policy to facilitate employees seeking help and providing feedback.

2025年3月6日，招商公路工会举办“锦绣芳华闪耀女神节”活动，特别策划“风采非遗文化体验——宋锦”主题活动。

多元与平等 On March 6 2025 the CMET Labor Union held the Gorgeous

Blossoms Shining Goddess event to celebrate Women's Day

Diversity and equality and specially organized an activity themed "intangible cultural

heritage experience - song brocade".公司通过校园招聘、社会招聘、内部选聘等多种渠道吸引不同背景的员工，为每一位员工提供平等的就业机会。

招商公路“锦绣芳华闪耀女神节”主题活动现场

公司尊重每位员工的宗教信仰及文化背景，坚决抵制任何形式的歧视、霸凌和骚扰行为，在招聘、入职、培训、晋升、 CMET Gorgeous Blossoms Shining Goddess themed event scene奖励过程中，禁止因员工性别、年龄、种族、宗教等因素而出现歧视行为、区别对待。本年度，公司未发生任何歧视或职场骚扰事件。※注释：

1.表中涉及管理层的数据不包含招商交科。

公司坚持性别平等原则，制定公平的薪酬政策、晋升机制以及培训计划，坚持以经验和能力为导向，为男女员工提供公2.由于行业特点，招商公路业务中销售岗位占比较少，本报告创收部门仅统计招商新智销售岗位。

平的工作机会。同时，公司为女性员工提供相应福利和支持，如设立母婴室、提供女性健康讲座，营造友好、包容的工 3.STEM 相关职位指日常工作中使用科学、技术、工程、数学相关知识的职位。

※ Notes:作氛围。报告期内，公司女性员工占比保持稳定，在各个层级和岗位上均有出色表现。 1.Data marked in the table pertaining to management does not include CMCT.

2.Due to industry characteristics sales positions account for a relatively small proportion of CMET's business. In this Report revenue-

generating departments refer only to sales positions at China Merchants New Intelligence Technology Co. Ltd.

3.STEM-related positions refer to roles that involve the use of knowledge in science technology engineering or mathematics in daily work.

124125招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025民主沟通重庆公司开展职业健康培训案例

Chongqing subsidiary conducts occupational health training CASE

Democratic communication

公司依法保障员工参与民主管理与监督的权利，建立多样化的双向沟通渠道与沟通机制。积极推动工会工作，定期召开重庆公司根据招商局集团《关于开展2025年〈职业病防治法〉宣传周活动的通知》文件精神，以“关爱劳动者心理健康”职工代表大会，让员工充分参与到公司重大决策的讨论与制定中，切实保障员工的知情权、参与权和监督权；鼓励员工为主题，组织公司领导、职业健康管理人员参加集团安全生产大讲堂2025年职业健康专题培训，以“现场培训+线通过座谈会、意见收集箱等方式提供建议或意见；组织开展各类丰富多彩的文体活动，丰富员工的业余生活，增强员工上直播”的方式，在全员范围内开展职业健康与工伤预防专题讲座，积极宣传职业健康专业知识、总结工伤预防工作。

的归属感和凝聚力。 In accordance with the spirit of CMG's Notice on Carrying out the 2025 Publicity Week Activities for the Law of the People's Republic ofChina on Prevention and Control of Occupational Diseases Chongqing subsidiary organized company leaders and occupational health

The Company legally guarantees employees' right to participate in democratic management and supervision establishes diverse two-way management personnel to participate in CMG's Safety Lecture Hall: 2025 Thematic Training on Occupational Health themed "caring for

communication channels and mechanisms actively promotes labor union work regularly holds workers' congress and enables employees employees' mental health". Through a combination of "on-site training + online live broadcast" special lectures on occupational health

to fully participate in the discussion and formulation of major company decisions effectively safeguarding employees' rights to know to and workplace injury prevention were conducted for all employees actively promoting professional knowledge of occupational health

participate and to supervise. We encourage employees to provide opinions and suggestions through methods such as employee seminars and summarizing workplace injury prevention work.and suggestion boxes while organizing various cultural and sports activities to enrich employees' spare time life and enhance their sense of

belonging and unity.公司在工作场所充足配备符合国家标准的职业健康防护设施和用品，开展专项培训指导员工正确使用防护用品。打造“员工之家”，组织建设职工活动室，配备跑步机、划船机、可调节训练椅等器具，持续改善办公环境与生活设施。

The Company provides adequate occupational health protection facilities and supplies meeting national standards in the workplace

关键绩效 Key performance highlights conducts special training to guide employees in correctly using protective supplies and organizes the construction of employee lounges

with activity rooms featuring treadmills rowing machines adjustable training chairs and other equipment building a "second home for

employees" and continuously improving the office environment and living facilities.

2025 年，招商公路员工工会入会率达到100% In 2025 the labor union membership rate at CMET reached “员工之家”风采

100% Glimpse of employee lounges

保障职业健康

SAFEGUARDING OCCUPATIONAL HEALTH

公司制定并持续完善《招商公路职业健康与安全政策》《招商公路职业健康与劳动保护管理办法》，构建全方位职业健招商中铁本部员工之家岑溪站员工之家Employee lounge at CMCR Employee lounge at Cenxi Station康管理体系。为员工购买补充医疗保险、重大疾病险、雇主责任险、职工互助保险、女职工互助保险等。每年组织集中体检，将工伤预防纳入常态化管理，开展职业健康与工伤预防专题讲座，积极宣传职业健康专业知识。招商新智、招商华软、招商智广获得 ISO 职业健康安全管理体系认证。

The Company has formulated and continuously improved the CMET Occupational Health and Safety Policy and the CMET Occupational

Health and Labor Protection Management Measures building a comprehensive occupational health management system. We purchase

supplementary medical insurance critical illness insurance employer's liability insurance employee mutual assistance insurance and

female employee mutual assistance insurance for employees organize regular annual company-wide medical examinations integrate

workplace injury prevention into normalized management conduct special lectures on occupational health and workplace injury prevention

and actively promote professional knowledge of occupational health. China Merchants New Intelligence Technology Co. Ltd. China

Merchants Huaruan Information Co. Ltd. and China Merchants Zhiguang Technology (Anhui) Co. Ltd. have obtained ISO 45001 Occupational 容县站员工之家 梧州南站员工之家

Employee lounge at Rongxian County Station Employee lounge at Wuzhou South Station

Health and Safety Management System Certification.

126127招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025

伙伴共赢 CMET adheres to the principles of compliance fairness openness merit-based selection and collaborative efficiency promotes the integration of resources processes and information from a strategic supply chain perspective upholds the "cost leadership" strategy actively enhances market

perception and responsiveness and exercises strict oversight across stages before during and after procurement. In line with the CMET Suppliers'

WIN-WIN PARTNERSHIP Code of Conduct 1 CMET Supplier Management Measures and CMET Integrity Management Implementation Rules the Company continuously strengthens supplier management through quantitative supplier assessments. During the first quarter of each year we evaluate the performance

of suppliers from the previous year rate them as Grade A B C or D and manage them accordingly. Meanwhile we explore models such as vendor-

促进行业交流合作 managed inventory (VMI) and deepen long-term stable collaboration with high-quality suppliers.FOSTERING INDUSTRY EXCHANGE AND COOPERATION 指标名称 单位

Indicator Unit 2025 2024 2023

公司积极搭建行业交流平台，通过定期举办或参与公路交通领域的研讨会、论坛等活动，主动分享自身在智慧公路建设、供应商总数家1053699479233运营管理、技术创新等方面的成功经验与实践案例。 Total number of suppliers numberThe Company actively builds industry exchange platforms regularly hosts and participates in seminars forums and other activities in the

2025 年，年度评价供应商数量为 1681 个，其中 A 级 110 个，占比 6.54%，B 级 1522 个，占比 90.54%，C 级 47 个，占比 2.8%，D 级 2 个，

expressway transportation field proactively shares successful experiences and practical cases in smart expressway development operation

占比0.12%。

management and technological innovation.A total of 1681 suppliers were evaluated during the year of which 110 were rated as Grade A accounting for 6.54% 1522 as Grade B

accounting for 90.54% 47 as Grade C accounting for 2.8% and 2 as Grade D accounting for 0.12%.招商交科共享桥梁工程安全的突破性成果案例

CMCT shares breakthrough achievements in bridge engineering safety CASE 准入阶段 Admission stage

?平等对待各市场参与主体，以性能价格比最佳、全生命周期综合成本最优为目标，根据需要对供应商的资质、资信2025 年，由桥梁工程安全与韧性国家级科研平台、招商交科和招商局重庆交通科研设计院有限公司联合主办的“2025 背景、生产经营现场情况等履约能力及其他与其业务活动相关的合规义务履行情况进行调查核实，核实范围包括资质证书、质量保证体系、安全防控、劳动用工环境、环境保护等 ESG 相关管理情况进行资料核查与现场审核，桥梁科技两江论坛——第三届桥梁工程安全与韧性学术会议”在重庆举办。招商交科展示在抗震、冲击防护、智能评选结果合格的供应商方可纳入合格供方名录。

检测监测等领域取得的技术突破及技术成果，全力打通“以产养研、以研促产”的转化通道。 ? The Company treats all market participants equally with the goal of achieving the best performance-to-priceratio and optimal total lifecycle cost. As needed we conduct investigations and verifications of suppliers'

In 2025 the 2025 Bridge Technology Liangjiang Forum & The performance capabilities including qualifications credit background and production and operation sites

Third Academic Conference on Bridge Engineering Safety and as well as their compliance with other obligations related to business activities. The scope of verification

Resilience jointly hosted by National Research Platform for encompasses documentary reviews and on-site audits of ESG-related management aspects such as

qualification certificates quality assurance systems safety controls labor practices and environmental

Bridge Engineering Safety and Resilience CMCT and China 供应商 protection. Only those passing the evaluation may be included in the list of qualified suppliers.Merchants Chongqing Communications Technology Research ESG 审核

& Design Institute was successfully convened in Chongqing 核实内容 Verification contentSupplier ESG

City. CMCT showcased its technological breakthroughs and audit ? 分为文件核实和现场核实。文件核实内容主要包括供应商的基本信息、财务信息、报告证书、产品业绩等；现场核achievements in areas such as seismic resistance impact 实内容主要包括供应商的设计研发、生产制造、试验检测、原材料组部件管理、产能等情况。

protection and intelligent inspection and monitoring striving to ? This process is divided into document verification and on-site verification. Document verification mainly includes

establish a virtuous cycle of "supporting research with industry basic information financial information report certificates and product performance. On-site verification mainly

while promoting industry with research". 2025 桥梁科技两江论坛现场 includes design and R&D production and manufacturing testing and inspection raw material component

2025 Bridge Technology Liangjiang Forum scene management and production capacity.

履约评价 Performance evaluation

完善供应链管理?对供应商的产品或服务质量、合同履约、售后服务等情况进行全面、客观、准确评价。

? Comprehensive objective and accurate evaluations of product and service quality contract performance and

IMPROVING SUPPLY CHAIN MANAGEMENT after-sales service are conducted.公司坚持依法合规、公开公正、竞争择优和协同高效，从供应链战略视角推进资源整合、流程整合、信息整合或一体化，?倡导绿色采购，同等条件下优先选择生产过程低碳环保的供应商，切实推动供应链低碳发展。

坚持“成本领先”战略，积极改善市场认知和市场应变能力，严格采购事前、事中和事后监管，依照《招商公路供应商行 ? Green procurement is advocated and under equal conditions suppliers with low-carbon and environment-friendly production processes are prioritized to effectively promote low-carbon development in the supply chain.为准则》1《招商公路供应商管理办法》《招商公路诚信管理实施细则》持续强化供应商管理，实施供应商量化考核，每?与长期合作供应商签订阳光协议、保密协议等合规协议，确保双方合作诚信、透明。

年一季度对上年度合作供应商开展履约评价（A/B/C/D 级），分级管理供应商，研究探讨供应商管理库存等模式，深化与 供应商Compliance agreements including sunshine agreements and confidentiality agreements are signed with long-

优质供应商长期稳定合作。 ESG 意识提升?

term cooperative suppliers to ensure integrity and transparency in cooperation.Supplier ESG

?组织供应商开展入场前培训，培训内容涵盖环保法规解读、职业健康安全管理、劳工权益保障等多个维度，涉及多※ 注释： awareness 项可持续发展相关内容。

enhancement

1. 公司所列供应商包括为招商公路提供产品、工程服务、其他服务的第三方，正文所列政策及内容适用范围包含承包商。 ? Pre-entry training for suppliers is organized covering multiple dimensions including environmental regulation

※ Note: interpretation occupational health and safety management and labor rights protection involving various

1.The suppliers listed by the Company include third parties providing products engineering services and other services to CMET. The policies sustainability-related topics.

and content listed in the main text apply to contractors as well.

128129招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025和谐社区

HARMONIOUS COMMUNITY 京台高速开展“京台慈善行动”，帮扶社区残疾人、公司积极履行社会责任，推动企地关系深度融合，为地方经济和社会发展贡献力量。贫困儿童等15户家庭，以公益实践传递企业温度。

CMET actively fulfills its social responsibilities promotes deep integration of enterprise-community relations and contributes to local Jingtai Expressway carried out the Jingtai Charity Action and

economic and social development. assisted 15 families in the community including disabled

individuals and impoverished children conveying corporate

compassion through public welfare practices.京台慈善行动志愿者向贫困儿童捐赠学习物资

构建企地关系 Jingtai Charity Action volunteers donating study materials to

impoverished children

BUILDING ENTERPRISE-COMMUNITY RELATIONS同时，通过积极推进本地雇佣和采购，进一步融入社区，与社区居民共同分享发展成果，为当地居民提供合适的工作岗公司制定《招商公路利益相关方参与政策声明》，畅通与社区利益相关方的沟通渠道。通过定期举办社区座谈会、设置位和职业发展机会，提升当地就业水平。选择本地优质供应商的产品和服务，促进地方经济的繁荣发展。

线上意见反馈渠道等形式，关注社区居民的需求与关切。为预防项目风险，制定并发布《安全生产和自然灾害群防群治 At the same time by actively promoting local employment and procurement CMET further integrates into the community shares奖励办法》，鼓励项目周边社区群众及时发现、报告高速公路重大安全环保隐患。 development achievements with community residents provides suitable job positions and career development opportunities for localresidents and enhances local employment levels. The Company also selects products and services from local high-quality suppliers

开展前置影响评估，全面识别项目对社区环境、经济、社会等方面的潜在影响，制定针对性的缓解措施和社区发展计划。 promoting the prosperity of the local economy.调研当地居民对交通噪声、生态保护、文物保护、文化尊重和就业的诉求，开展针对性的噪声防护设施、生态环保设施建设，降低社区影响。在连云港主港区一期 5MW 分布式光伏项目前期研判中，公司明确项目组对社区当地化石、文物 招商华建在大风天气为辖区居民提供“温馨避风港” 案例的保护责任，评估项目对于化石、文物的影响，并将其纳入承包商考核范围。 China Merchants Huajian Commercial Management (Beijing) Co. Ltd. provides a safe space for local CASEresidents during high winds

在社区互动中，公司员工与周边居民建立和谐融洽的关系，坚决反对任何形式的暴力冲突行为。定期组织志愿服务活动，加强与社区的沟通与联系，及时了解并回应社区居民的需求和关切。2025年4月，北京地区遭遇历史罕见的大风天气，为降低极端天气对居民的影响，招商华建临时免费开放70余个停车位作为附近社区居民的应急避险场所，妥善安置55辆家庭用车，为辖区防风应急、居民安全出行稳定保驾护航。

In April 2025 Beijing experienced historically rare high winds. To mitigate the impact of the extreme weather on local residents China

The Company has formulated the CMET Stakeholder Engagement Policy Statement maintaining smooth communication channels with

Merchants Huajian Commercial Management (Beijing) Co. Ltd. temporarily opened over 70 parking spaces free of charge as emergency

community stakeholders. Through regular community forums online feedback channels and other means we attach great importance to

shelters for nearby community residents safely accommodating 55 household vehicles. This initiative provided crucial support for wind

the needs and concerns of community residents. To prevent project risks we have formulated and published the Measures for Rewarding

emergency response in the area and ensured the safe travel of residents.Mass Prevention and Mass Control in Work Safety and Natural Disasters encouraging community residents around the project to timely

detect and report major safety and environmental potential hazards on the expressway.CMET conducts pre-impact assessments to comprehensively identify potential impacts of projects on environment economy society and

other aspects formulates targeted mitigation measures and community development plans investigates local residents' demands regarding

traffic noise ecological protection cultural relic preservation cultural respect and employment and carries out targeted construction of

noise protection facilities and ecological and environmental protection facilities to reduce community impact. In the preliminary assessment

of the Lianyungang Main Port Area Phase I 5 MW Distributed Photovoltaic Project the Company clarified the project team's responsibility for

protecting local fossils and cultural relics assessed the project's impact on fossils and cultural relics and incorporated this into the contractor

assessment scope.In community interactions CMET employees establish harmonious relationships with surrounding residents resolutely oppose any form 招商华建收获社区锦旗 招商华建提供的应急避险停车位

of violent conflict regularly organize volunteer service activities strengthen communication and contact with the community and ensure China Merchants Huajian Commercial Management (Beijing) Co. Ltd. Emergency shelter parking spaces provided by China Merchants Huajian

receiving commendatory banner from community Commercial Management (Beijing) Co. Ltd.timely understanding and response to the needs and concerns of community residents.

130131招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025打造公益品牌

DEVELOPING PUBLIC WELFARE BRANDS

公司打造 C Green 品牌，将公益品牌建设作为回馈社会、传递爱心的重要途径；以公路运营主业为核心，开展货车司机关爱活动，传递“招商”温度。

CMET has established the C Green brand leveraging public welfare brand building to contribute to society and share kindness. Centered on

the core expressway operation business the Company has carried out care activities for truck drivers conveying the"CMG compassion".招商公路开展系列货车司机关爱活动案例

CMET organizes a series of caring activities for truck drivers CASE

2025年，招商公路所属公司于沿线服务区及收费站启动“情暖征途”致敬货运先锋公益行动，向奔波在路上的货车司机们致敬。2025年，招商公路全系统累计开展“情暖征途”致敬货运先锋公益活动667场，参与志愿者4688人次，服务总时长8963小时，惠及司乘人员73896人次，为推动实现“人享其行，物畅其流”的美好愿景贡献力量。

In 2025 subsidiaries of CMET launched the Warm Journey: Paying Tribute to Truck Drivers campaign at service areas and toll stations

along the expressways. Throughout the year a total of 667 Warm Journey: Paying Tribute to Truck Drivers events were organized across

CMET's system involving 4688 volunteer participants and 8963 service hours benefiting 73896 drivers and passengers. These efforts

contributed to the realization of the vision of "enjoyable travel for passengers and smooth transport of goods".C Green 大学生绿色创新创业大赛总决赛活动现场

Event site of the C Green University Student Green Innovation and Entrepreneurship Competition Finals招商交科开展系列暖心公益活动案例

CMCT conducts heartwarming public welfare initiatives CASE

招商交科深度融入国家区域发展战略，将技术赋能与公益暖心深度融合，用 AED、制氧机、急救药品等构成了覆盖G109 线及 S206 线的“黄金救援网”。 截至 2026 年 1 月，招商交科依托招商局慈善基金会在西藏持续投入帮扶资金200余万元，已在青藏线4500米海拔以上地区建立“招商局爱心小站”10座，救助过往司乘人员2000余人，开展急救培训覆盖15个工区，惠及超2万人次。

招商公路“情暖征途”致敬货运先锋活动现场

CMET Warm Journey: Paying Tribute to Truck Drivers event scene 招商交科组织“桥梁进课堂”“中国梦*桥梁梦”等品牌活动，2025 年科技周开放日接待重庆市中小学生 3000 余人次，走进校园、社区开展讲座13场；联动科普子品牌—第三届“中国梦*桥梁梦”公益主题画展出200余幅作品，阅读量破千万。

2025 年 In 2025

CMCT has deeply integrated itself into national regional development strategies combining technological empowerment with heartfelt

C Green 公益助教计划项目新增 3 所合作院校，已覆盖北京师范大 成功开展 C Green 大学生绿色创新创 public welfare efforts. By deploying AEDs oxygen concentrators and emergency medical supplies it has established a "golden rescue network" along the G109 and S206 expressways. As of January 2026 leveraging CMF CMCT has invested over RMB 2 million in Xizang业大赛、第三届 C Green 青年共创营 Autonomous Region establishing 10 CMG Care Stations in areas above 4500 meters on the Qinghai-Tibet Expressway. These stations

学、伊犁师范大学等12所院校，惠及近18.7万人次 have provided assistance to over 2000 passing drivers and passengers while first aid training has reached 15 work zones benefitingmore than 20000 people.The C Green Public Welfare Teaching Support Program added 3 new The Company successfully held the C Green College CMCT has also organized signature programs such as Bridges in Classrooms and China Dream * Bridge Dream. During the 2025 Science

partner institutions covering a total of 12 institutions including Beijing Student Green Innovation and Entrepreneurship and Technology Week Open Day it welcomed over 3000 primary and secondary school students from Chongqing City and delivered 13

Normal University (BNU) and YiLi Normal University (YLNU) benefiting Competition and the Third C Green Youth Co-Creation lectures in schools and communities. In conjunction with its science outreach sub-brand the third China Dream*Bridge Dream public

nearly 187000 participants Camp welfare themed art exhibition over 200 artworks were displayed garnering more than 10 million views.

132133招商公路利泽四海成果惠社会2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Benefiting One and All: Sharing Prosperity with Society Sustainability Report 2025助力乡村振兴

ADVANCING RURAL REVITALIZATION

公司深度融入乡村振兴国家战略，通过招商局慈善基金会捐赠资金1300万元1人民币用于2025年乡村振兴项目，重点助重庆公司“氢油气电”综合能源站助农直销点助力乡村振兴力新疆维吾尔自治区叶城、莎车两县发展特色产业，打造乡村振兴示范点。 案例Chongqing Company's "hydrogen oil gas and electricity" Integrated Energy Station Supports AgriculturalCASE

Direct Sales Stores and Facilitates Rural Revitalization

Deeply integrating into the national rural revitalization strategy the Company has donated RMB 13 million1 through the China Merchants

Foundation (CMF) to fund 2025 rural revitalization projects focusing on supporting the development of characteristic industries in Yecheng

2025年4月14日，重庆公司打造西南地区首座集“氢油气电”综合能源站与高速公路服务功能于一体的停车区，

County and Shache County Xinjiang Uygur Autonomous Region and establishing rural revitalization demonstration sites.设有超市、中餐、特色小吃、特色农产品直销点，以车流带客流，构建起多业态、多场景、多元化的消费体验和良好服务环境。

2025年乡村振兴实践

On April 14 2025 Chongqing subsidiary built the first parking area in Southwest China integrating a comprehensive "hydrogen oil gas

Rural revitalization practices in 2025 and electricity" energy station with expressway service functions. It features supermarketsChinese restaurants local delicacies and

direct-sale outlets for specialty agricultural products leverages traffic flow to drive customer flow and builds a multi-format multi-

在新疆莎车 在新疆叶城 scenario and multi-dimensional consumption experience with excellent service environment.In Shache County Xinjiang Uygur Autonomous In Yecheng County Xinjiang Uygur Autonomous

Region Region

实施六个子项目，受益人数超22万人。实施两个子项目，受益人数达3000人。

Six sub-projects were implemented with an beneficiary Two sub-projects were implemented with an beneficiary

population of 220000. population of 3000.?实施新疆莎车产业振兴项目，在白什坎特镇开展速冻?新疆叶城产业振兴项目，在河园镇修建防渗渠，完善冷库一体库二期建设，为冷库配套室外附属设施设备，种植基础设施，提高用水效率。

帮助打造区域冷链物流示范园区。

?向叶城共3所中小学捐赠校服，减轻困难家庭学习负?开展新疆金融帮扶项目，通过完善“慈善公益+保险担，防止因学返贫。+金融衍生品”金融帮扶模式，为当地玉米和红枣种植户承保，提升农户抵御农产品价格波动风险的能力。

? The Company implemented the Xinjiang Shache ? Xinjiang Yecheng Industrial Revitalization Project was

Industrial Revitalization Project conducted the second- implemented to construct anti-seepage canals in Heyuan 重庆公司“氢油气电”综合补能站

phase construction of the integrated quick freezing and Town improve planting infrastructure and increase water

Chongqing subsidiary's "hydrogen oil gas and electricity" comprehensive energy station

cold storage facility in Baishikante Town supporting the use efficiency.facility with outdoor auxiliary facilities and equipment

and helping build a regional cold-chain logistics ? School uniforms were donated to three primary

demonstration park. and secondary schools in Yecheng County alleviating

the burden on disadvantaged families and preventing

? The Company also carr ied out the Xinj iang education-induced poverty relapse.Financial Assistance Project improved the financial

assistance model of "charity + insurance + financial

derivatives" and provided insurance for local corn and

red date farmers enhancing their ability to resist price

fluctuations of agricultural products.※注释：重庆公司黔渝高速赶水停车区正视图重庆公司黔渝高速赶水停车区俯拍图

1.1300 万元仅包含招商公路总部捐赠资金。 Front view of Chongqing subsidiary's Ganshui Parking Area on Aerial view of Chongqing subsidiary's Ganshui Parking Area on

※ Note: Guizhou-Chongqing Expressway Guizhou-Chongqing Expressway

1.The RMB 13 million only includes the donation funds provided by the headquarters of CMET.

134135招商公路展望20262025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Outlook for 2026 Sustainability Report 2025展望2026

OUTLOOK FOR 2026 招商公路桂阳高速

CMET Guilin-Yangshuo Expressway

站在“十四五”圆满收官、“十五五”开局起步的关键之年，招商公路将以强基固本、守正创新的坚定决心，以更加开 At this critical juncture marking the successful conclusion of the 14th Five-Year Plan and the beginning of the 15th Five-Year Plan CMET will embarkon a new journey toward high-quality and sustainable development with a firm commitment to strengthening foundations upholding integrity and放的姿态、更务实的行动，迈向高质量可持续发展新征程。展望 2026 年，我们将牢牢锚定“中国领先的公路及相关基础 pursuing innovation adopt a more open approach and take more pragmatic actions. Looking ahead to 2026 we will remain steadfast in realizing our设施投资运营企业”的发展愿景，把可持续发展理念深度融入公司治理、战略决策与业务运营各环节，紧扣集团“第三 vision of becoming "China's leading investor and operator in expressways and related infrastructure" and deeply integrate the concept of sustainabilityinto all aspects of corporate governance strategic decision-making and business operations. Closely aligning with CMG's strategic deployment of the次创业”战略部署，以“一个目标、两条曲线、四个路径”为核心战略指引，推动企业发展行稳致远。 Third Entrepreneurship we will advance our development steadily and sustainably under the core strategic framework of One Goal Two Curves andFour Pathways.新的一年，我们将以科技创新驱动绿色转型，进一步深化智慧高速建设与交能融合实践；以卓越治理夯实发展根基，持 In the year ahead we will drive green transformation through sci-tech innovation further advance smart expressway construction and transportation-energy integration practices consolidate our development foundation through excellent governance further enhance transparency deliver a better

续提升透明度；以责任担当服务美好出行，不断延伸“交通+”的价值边界。招商公路愿与各方携手，在服务交通强国travel experience through responsibility and continuously extend the value boundaries of "transportation+". CMET stands ready to join hands with all

建设的宏伟蓝图中，共同擘画人、车、路、自然和谐共生的未来图景，为经济社会高质量发展注入持久而强劲的招商动能。 partners in the grand blueprint of building a country with strong transportation network jointly envision a future of harmonious coexistence amongpeople vehicles roads and nature and inject lasting and robust "CMG impetus" into high-quality economic and social development.

136137招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

附录 APPENDIX

关键绩效 KEY PERFORMANCE HIGHLIGHTS环境篇1

Environmental1

应对气候变化 2 Climate change response2

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

温室气体排放总量 tCO2e 54855.39 61425.42 53320.43 Total GHG emissions tCO2e 54855.39 61425.42 53320.43

温室气体排放强度 tCO2e/ 万元 4.11 4.83 5.48 GHG emission intensity tCO2e/RMB 10000 4.11 4.83 5.48

范围 1 温室气体排放量 tCO2e 3280.23 3671.42 7333.63 Scope 1 GHG emissions tCO2e 3280.23 3671.42 7333.63

范围 2 温室气体排放量 tCO2e 42938.16 57541.15 45986.80 Scope 2 GHG emissions tCO2e 42938.16 57541.15 45986.80

范围 3 温室气体排放量 tCO2e 8637.00 212.85 / Scope 3 GHG emissions tCO2e 8637.00 212.85 /

范围 3 类别 3: 燃料和能源相关活动 tCO2e 8350.65 / / Scope 3 Category 3: Fuel and energy related activities tCO2e 8350.65 / /

范围 3 类别 6：商务差旅排放量 tCO2e 262.93 191.53 / Scope 3 Category 6: Business travel emissions tCO2e 262.93 191.53 /

范围 3 类别 7：员工通勤排放量 tCO2e 23.42 21.32 / Scope 3 Category 7: Employee commuting emissions tCO2e 23.42 21.32 /

直接能源总消耗量 3 吨标准煤 1675.97 1891.64 4240.63 Total direct energy consumption3 tce 1675.97 1891.64 4240.63

液化石油气消耗量 3 吨 2.03 21.46 757.08 LPG consumption3 ton 2.03 21.46 757.08

天然气消耗量 立方米 241474.56 304475.65 482948.98 Natural gas consumption m3 241474.56 304475.65 482948.98

汽油消耗量 吨 592.27 665.89 845.23 Gasoline consumption ton 592.27 665.89 845.23

柴油消耗量 吨 329.33 332.73 759.31 Diesel consumption ton 329.33 332.73 759.31

间接能源消耗总量 3 吨标准煤 10539.97 10640.65 9496.91 Total indirect energy consumption3 tce 10539.97 10640.65 9496.91

电力消耗量 兆瓦时 84686.41 85511.74 76934.26 Electricity consumption MWh 84686.41 85511.74 76934.26

清洁电力使用量 4 兆瓦时 474.14 5.14 5.77 Clean electricity consumption4 MWh 474.14 5.14 5.77

热力消耗量 吉焦（GJ） 3869.00 3847.00 1222.00 Heat consumption GJ 3869.00 3847.00 1222.00

※ 注释： ※ Notes:

1. 公司 2024 年度与 2025 年度环境相关数据已与公司节能环保系统数据保持一致，由于统计口径与统计方法的差异，2023 年度数据与后续差异 1.The environmental-related data of the company for the years 2024 and 2025 have been consistent with the data of the company's energy较大。 conservation and environmental protection system. However due to differences in statistical scope and methods the data for 2023 andsubsequent years have significant discrepancies.

2. 温室气体排放数据的注释说明请参照“应对气候变化”章节。 2.For explanatory notes on GHG emission data please refer to the Climate Change Response section.

3.2024 年、2025 年直接能源消耗总量和间接能源消耗总量，折标准煤系数来源于《综合能耗计算通则（GB/T 2589—2020）》。公司推行“气改电”， 3.The coefficients for converting total direct energy consumption and total indirect energy consumption in 2024 and 2025 to standard coal

用电力替代液化石油气，因此液化石油气消耗量逐年下降。 equivalent are derived from the General Rules for Calculation of the Comprehensive Energy Consumption (GB/T 2589-2020).The Company

4. 甬台温高速服务区实现自用太阳能发电，2025 年度清洁电力使用量增加幅度较大。清洁电力使用量为招商公路全部可再生能源消耗。 has implemented a "gas-to-electricity" initiative and replaced liquefied petroleum gas with electricity resulting in a year-on-year decrease

in LPG consumption.

4.The service area of Ningbo-Taizhou-Wenzhou Expressway achieved self-use solar power generation leading to a significant increase in

clean electricity consumption in 2025. Clean electricity consumption represents all renewable energy consumption of CMET.

138139招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

环境机遇 Environmental opportunities

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

绿色投资 1 万元 3252 1670 20 Green investment

1 RMB 10000 3252 1670 20

Green deposits RMB 10000 3000 3000 /

绿色存款万元30003000/

Total environmental protection investment RMB 10000 88.24 / /

环保总投入万元88.24//

R&D investment in green business-related technologies RMB 10000 757.53 / /

绿色业务相关技术研发投入万元757.53//

Operating revenue from green business RMB 10000 17392.00 8545.00 7088.00

绿色业务的营业收入万元17392.008545.007088.00

Number of green business-related patents number 201 146 88绿色业务相关专利数量项20114688

※ Note:

※ 注释 : 1.The Company refined the scope of the above data in 2024. Green investment refers to green investments made through various financial

1. 公司 2024 年度对上述数据进行了口径梳理，其中，绿色投资指通过各类金融工具向绿色产业项目（如路衍光伏、节水与循环用水项目等）进 instruments in green industry projects (such as roadside photovoltaics water conservation and water recycling projects). Green business

行绿色投资，绿色业务指清洁能源创新业务和生态环保类业务。 refers to clean energy innovation businesses and ecological and environmental protection businesses.废弃物管理 1 Waste management1

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

一般固体废物产生量 吨 3663.80 / / Total general solid waste generation ton 3663.80 / /

3663.80 / / Total general solid waste disposal ton 3663.80 / /一般固体废物处理的总量 吨

Including: General industrial solid waste ton 2.98 / /

其中：一般工业固体废物吨2.98//

Total domestic waste disposal2 ton 3578.39 664.20 2.51

生活垃圾排放总量2吨3578.39664.202.51

Total kitchen waste disposal ton 1019.15 253.07 1.15

厨余垃圾排放总量吨1019.15253.071.15

Total other waste (dry waste) disposal ton 2556.42 / /

其他垃圾（干垃圾）排放总量 吨 2556.42 / / Total recyclable waste disposal3 ton 2.82 31.60 1.32

可回收垃圾排放总量 3 吨 2.82 31.60 1.32 Other general solid waste ton 82.43 / /

其他一般固废 吨 82.43 / / Total exhaust gas emissions4 m3 0.14 / /

4 立方米 0.14 / / Total waste batteries and electronic waste disposal

5 ton 0.03 / /

废气排放量

废电池等电子废弃物排放量5吨0.03//

※ Notes：

※ 注释 : 1.The Company's waste is disposed through compliant methods or handed over to third-party disposal agencies for treatment.

1. 公司废弃物经过合规方式处理或交由第三方处理机构处理。 2.The total domestic waste disposal and total kitchen waste disposal data for 2025 have been synchronized with the Company's energy

2.2025 年度生活垃圾排放总量、厨余垃圾排放总量数据已与公司节能环保系统同步，2025 年度数据为招商公路上市公司口径，因此与 2023 年、 conservation and environmental protection system. The 2025 data reflects the statistical scope of CMET as a listed company hence the

2024 年差距较大。 significant discrepancy compared to 2023 and 2024.

3. 由于数据统计困难，公司废气排放量仅统计垫忠高速、绵遂高速，主要类型为车辆使用的废气排放。公司将进一步完善数据统计，扩大数据口径。 3.Due to difficulties in data collection the Company's exhaust gas emissions data currently only cover Dianzhong Expressway and Miansui

4. 公司可回收垃圾的主要类型为服务区运营中产生的塑料制品、金属配件等。 Expressway with the main type being exhaust emissions from vehicles. The Company will further improve data statistics and expand the

5. 由于数据统计困难，废电池等电子废弃物排放量仅统计富砚高速、绵遂高速，公司将进一步完善数据统计，扩大数据口径。 data scope.

4.The main types of the Company's recyclable waste include plastic products and metal accessories generated during service area

operations.

5.Due to difficulties in data collection the waste batteries and electronic waste disposal data currently only cover Fuyan Expressway and

Miansui Expressway. The Company will further improve data statistics and expand the data scope.

140141招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

水资源利用 1 Water resource utilization1

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

总取水量 2 立方米 746386.22 796587.23 915216.54 Total water withdrawal2 m3 746386.22 796587.23 915216.54

总排水量 立方米 611597.45 652152.66 / Total water discharge m3 611597.45 652152.66 /

总耗水量 立方米 134788.77 144434.57 / Total water consumption m3 134788.77 144434.57 /

市政供水（或其他自来水企业）取水量 立方米 658851.86 / / Municipal water supply (or other tap water companies) m3 658851.86 / /

withdrawal

新鲜地下水取水量 立方米 87534.35 / / Fresh groundwater withdrawal m3 87534.35 / /

循环水用量 立方米 25505.68 35000.00 / Circulating water usage m3 25505.68 35000.00 /

※ 注释： ※ Notes:

1. 根据节能环保系统中数据，对 2024 年数据进行动态更新，请以最新披露数据为准。 1.Based on data from the energy conservation and environmental protection system the 2024 data has been dynamically updated. Please

2. 总取水量中，新鲜地表水 ( 湖泊、河流等 ) 消耗量、其他来源水消耗量均为 0，故不在此列示。 refer to the latest disclosed data for accuracy.

2.In the total water withdrawal the consumption of fresh surface water (lakes rivers etc.) and water from other sources are both zero

hence they are not listed here.社会篇

Social

雇佣管理 Employment management

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

劳动合同签订率 % 100 100 100 Labor contract signing rate % 100 100 100

社会保险覆盖率 % 100 100 100 Social insurance coverage % 100 100 100

召开职工大会次数 次 26 33 / Number of workers' congress meetings time 26 33 /

工会覆盖的员工比例 % 100 100 / Labor union coverage % 100 100 /

人力资本投资回报率 1 倍 1.75 1.93 1.98 Human capital return on investment (HCROI)1 time 1.75 1.93 1.98

员工总数 2 人 7836 6445 6641 Total number of employees2 person 7836 6445 6641

全职员工总人数 人 7730 6445 6641 Total number of full-time employees person 7730 6445 6641

142143招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

非全职员工总人数 人 106 / / Total number of part-time employees person 106 / /

劳务派遣员工 人 328 / / Number of dispatched workers person 328 / /

新聘员工人数 人 229 327 565 Number of new employees person 229 327 565

内部招聘占比 % 0 0 / Internal recruitment percentage % 0 0 /

总经理与员工薪酬比例 3 倍 7.00 8.65 / CEO-employee compensation ratio3 time 7.00 8.65 /

按民族划分的员工人数 - 汉族 人 7413 6162 6183 Number of employees by ethnic group - Han nationality person 7413 6162 6183

按民族划分的员工人数 - 少数民族 人 423 283 458 Number of employees by ethnicity - Ethnic minorities person 423 283 458

按性别划分的员工人数 - 女性 人 3232 2344 2483 Number of employees by gender - Female person 3232 2344 2483

按性别划分的员工人数 - 男性 人 4604 4101 4158 Number of employees by gender - Male person 4604 4101 4158

按年龄划分的员工人数 -30 岁及以下员工人数 人 1683 1269 1559 Number of employees by age - 30 and below person 1683 1269 1559

按年龄划分的员工人数 -31 至 50 岁员工人数 人 5381 4457 4416 Number of employees by age - 31-50 person 5381 4457 4416

按年龄划分的员工人数 -51 岁及以上员工人数 人 772 719 666 Number of employees by age - 51 and above person 772 719 666

人 958 980 960 Number of employees by education level - Master's degree and 按学历划分的员工人数 - 研究生及以上员工人数 person 958 980 960

above

按学历划分的员工人数 - 本科员工人数 人 3140 2611 2611 Number of employees by education level - Bachelor's degree person 3140 2611 2611

人 3738 2854 3070 Number of employees by education level - Junior college and 按学历划分的员工人数 - 专科及以下员工人数 person 3738 2854 3070

below

按地区划分的员工人数 - 华北 4 人 2159 / / Number of employees by region - North China4 person 2159 / /

按地区划分的员工人数 - 华东 人 1124 / / Number of employees by region - East China person 1124 / /

按地区划分的员工人数 - 中南（华中 + 华南） 人 1543 / / Number of employees by region - Central China and South China person 1543 / /

按地区划分的员工人数 - 西南 人 2682 / / Number of employees by region - Southwest China person 2682 / /

按地区划分的员工人数 - 西北 人 328 / / Number of employees by region - Northwest China person 328 / /

144145招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

人均薪酬 万元 24.28 26.47 / Average compensation per employee RMB 10000 24.28 26.47 /

女性在全职员工中的占比 % 41.25 / / Percentage of women in full-time employees % 41.25 / /

管理层中的女性占比 % 25.95 / / Percentage of women in management positions % 25.95 / /

初级管理职位中的女性占比 % 27.20 34 / Percentage of women in junior management positions % 27.20 34 /

Percentage of women in management positions of revenue-

创收职能部门中担任管理职务的女性比例%016/%016/

generating departments

STEM 相关职位中的女性占比 % 20 17.38 / Percentage of women in STEM-related positions % 20 17.38 /

员工流失率 % 4.70 8.18 / Employee turnover rate % 4.70 8.18 /

员工自愿流失率 5 % 4.70 7.31 / Voluntary employee turnover rate5 % 4.70 7.31 /

按性别划分的离职员工人数 - 女性 人 154 155 202 Number of employee departures by gender - Female person 154 155 202

按性别划分的离职员工人数 - 男性 人 181 247 347 Number of employee departures by gender - Male person 181 247 347

按年龄划分的离职员工人数 -30 岁及以下员工离职人数 人 161 156 226 Number of employee departures by age - 30 and below person 161 156 226

按年龄划分的离职员工人数 -31 至 50 岁员工离职人数 人 137 202 226 Number of employee departures by age - 31-50 person 137 202 226

按年龄划分的离职员工人数 -51 岁及以上员工离职人数 人 37 44 97 Number of employee departures by age - 51 and above person 37 44 97

人 86 61 70 Number of employee departures by education level - Master's 按学历划分的离职员工人数 - 研究生及以上员工人数 person 86 61 70

degree and above

人 136 183 210 Number of employee departures by education level - Bachelor's 按学历划分的离职员工人数 - 本科员工人数 person 136 183 210

degree

人 113 158 269 Number of employee departures by education level - Junior 按学历划分的离职员工人数 - 专科及以下员工人数 person 113 158 269

college and below

※ Notes:

※ 注释： 1.We calculated HCROI based on the Company's annual operating revenue operating costs and employee compensation payable. For

1. 我们根据公司各年度营业收入、营业成本及应付职工薪酬计算得到人力资本投资回报率，相关数据请参照招商公路年度报告。最新披露数据中， relevant data please refer to the CMET Annual Report 2025. Among the latest disclosed data the figures for 2023 and 2024 have been

本年度披露数据中已对 2023 年及 2024 年数据进行重新核算，请以本报告披露数据为准； recalculated in the current disclosure. Please refer to the data disclosed in this Report as the definitive version.

2. 员工总数计算口径为全职员工与非全职员工，未计入劳务派遣员工，因招商中铁外包员工转为正式员工，因为本年度员工总数增加； 2.The total number of employees is calculated based on full-time and part-time employees excluding dispatched workers.The increase in

3. 计算方法为总经理总薪酬除以员工薪酬平均值； the total number of employees this year is due to the conversion of outsourced employees of CMCR to regular employees.

4. 按地区划分的全职员工中，东北地区的人数数据为 0，故不在此列示； 3.The ratio is calculated as the total CEO compensation divided by the mean employee compensation.

5. 员工自愿流失率统计中包含退休员工。 4.In the section of full-time employees by region the number of employees in Northeast China is zero hence it is not listed here.

5.The voluntary employee turnover rate includes retired employees in its calculation.

146147招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

职业健康与安全 Occupational health and safety

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

安全生产投入 万元 4557.35 5167.18 / Work safety investment RMB 10000 4557.35 5167.18 /

因工伤损失工作日数 天 280 310 404 Workdays lost due to occupational injuries day 280 310 404

% 0 / / Occupational disease incidence rate % 0 / /职业病发生率

例 0 / / Number of safety incidents case 0 / /安全事故数

Number of major and above safety incidents case 0 / /

重大及以上事故数例0//

Number of occupational disease cases person 0 / /

职业病发生人数人0//

Lost workday rate (LWR) of employees1 / 3.59 4.56 6.08

员工日损失率（LWR）1 / 3.59 4.56 6.08

case/ 1 million working

Work-related fatalities of employees 0 / /

供应商失时工伤频率 次 / 百万工时 0 / / hours

Work-related fatalities of suppliers person 0 0 0员工因工死亡人数人000

Number of employee attendances in health and safety

person 7836 / /

供应商因工死亡人数 人 0 0 0 training

Number of supplier attendances in health and safety

员工参与各项有关健康及安全培训的人数 人 7836 / / person 376 / /training

人 376 / / Number of employee attendances in health and safety 供应商参与各项有关健康及安全培训的人数 person time 12708 53759 52611

training

员工参与各项有关健康及安全培训人次 人次 12708 53759 52611 Number of supplier attendances in health and safety person time 1204 / /

training

供应商参与各项有关健康及安全培训人次人次1204//

Total hours of safety training hour 17659 / /

组织安全培训总时长 小时 17659 / / Number of emergency drill activities time 336 506 /

组织应急演练活动 次 336 506 / ※ Note:

※ 注释： 1.The calculation is based on an assumption of 2000 working hours per person per year. LWR = (Total working days lost due to work-

1. 人均年工作时长 2000 小时测算。LWR=（工伤损失总天数 x 200000）/ 会计期间的总工作小时数。 related injuries × 200000) / Total working hours during the accounting period.

培训与发展 Training and development

指标名称 单位 2025 2024 2023 Indicator Unit 202 2024 2023

员工培训总投入 万元 332.91 408.71 439.89 Total employee training investment RMB 10000 332.91 408.71 439.89

员工参与培训的总时数 小时 204772.77 376246.70 278722.77 Total employee training hours hour 204772.77 376246.70 278722.77

员工培训覆盖率 % 100 100 / Employee training coverage % 100 100 /

按性别划分的员工参与培训时数 - 女性 小时 90050.11 164826.22 104211.51 Employee training hours by gender - Female hour 90050.11 164826.22 104211.51

按性别划分的员工参与培训时数 - 男性 小时 114722.66 211420.48 174511.26 Employee training hours by gender - Male hour 114722.66 211420.48 174511.26

小时 1478.32 1606.00 335.76 Employee training hours by position - Senior 按层级划分的员工参与培训时数 - 高级管理层 hour 1478.32 1606.00 335.76

management

小时 11392.31 31160.71 2602.14 Employee training hours by position - Middle 按层级划分的员工参与培训时数 - 中级管理层 hour 11392.31 31160.71 2602.14

management

按层级划分的员工参与培训时数 - 普通员工 小时 191902.14 343479.99 275784.87 Employee training hours by position - Non-managerial hour 191902.14 343479.99 275784.87

employees

员工培训覆盖人数 1 人 7914 6707 6539 Number of trained employees1 person 7914 6707 6539

※ 注释： ※ Note:

1. 员工培训覆盖人数中含有外包人员，公司全体员工（不含外包人员）接受培训的百分比为 100%。 1.The number of trained employees includes outsourced personnel while the training coverage for CMET's employees (excluding

outsourced personnel) is 100%.

148149招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

科技创新 Sci-Tech innovation

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

研发投入金额 万元 33422.90 32484.23 39730.76 R&D investment amount RMB 10000 33422.90 32484.23 39730.76

有效专利总数 项 1040 / / Total number of valid patents number 1040 / /

完成专利申请数量 项 440 174 242 Number of completed patent applications number 440 174 242

新增专利申请数量 项 217 215 205 Number of new patent applications number 217 215 205

软件著作权数量 件 779 / / Number of software copyrights number 779 / /

研发人员数量 人 790 1043 1082 Number of R&D personnel person 790 1043 1082

社区关系 Community relations

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

乡村振兴投入金额 1 万元 2140.70 1100 1400 Rural revitalization investment amount1 RMB 10000 2140.70 1100 1400

乡村振兴受益人数 人 223442 / / Number of rural revitalization beneficiaries person 223442 / /

公益慈善捐赠金额 2 万元 1529.70 / / Charitable donation amount2 RMB 10000 1529.70 / /

员工志愿服务人次 人次 9985 6477 2870 Number of employee volunteer attendances person time 9985 6477 2870

员工志愿服务总时长 小时 23283.1 19904 10869 Total employee volunteer hours hour 23283.1 19904 10869

公益慈善受益人数 人 443403 260000 49315 Number of charitable activity beneficiaries person 443403 260000 49315

※ 注释： ※ Notes:

1.2023 年与 2024 年乡村振兴投入金额为招商公路总部通过集团基金会完成的乡村振兴投入金额，2025 年度数据新增各所属公司捐赠数据。 1.The rural revitalization investment amounts for 2023 and 2024 represent contributions made by CMET headquarters through CMF. The

2. 公益慈善捐赠金额为招商公路及所属公司用于社会公益项目（区别于乡村振兴）的总金额。 2025 data additionally includes donation data from various subsidiaries.

2.The charitable donation amount refers to the total sum contributed by CMET and its subsidiaries to social welfare programs (distinct

from rural revitalization projects).公路运营 Expressway operation

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

路面使用性能指数 (PQI) 分 93.28 93.91 93.05 PQI point 93.28 93.91 93.05

道路养护投入 亿元 3.73 3.68 2.58 Road maintenance investment RMB 100 million 3.73 3.68 2.58

一、二类桥梁比例 % 100 100 99.77 Proportion of class I and II bridges % 100 100 99.77

路网清排障 20 分钟到达率 % 92.62 92.19 82.92 Obstacle clearance 20-minute arrival rate* % 92.62 92.19 82.92

路网清排障 30 分钟到达率 % 97.96 98.39 93.73 Obstacle clearance 30-minute arrival rate* % 97.96 98.39 93.73

高速公路排障救援点数量 个 34 / / Number of expressway obstacle clearance and rescue number 34 / /

stations

年度清排障数量 次 33610 32349 36663 Annual obstacle clearance incidents number 33610 32349 36663

平均清障时长 分钟 21.59 21.42 27.47 Average obstacle clearance duration minute 21.59 21.42 27.47

150151招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025治理篇

Governance

董事会建设 Development of the Board of Directors

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

董事总人数 人 12 11 12 Total number of Directors person 12 11 12

按性别划分的董事人数 - 男性 人 10 10 11 Number of Directors by gender - Male person 10 10 11

按性别划分的董事人数 - 女性 人 2 1 1 Number of Directors by gender - Female person 2 1 1

执行董事人数 人 2 1 1 Number of Executive Directors person 2 1 1外部（独立）董事人数 人 4 4 4 Number of External (Independent) Directors person 4 4 4

董事会会议次数 次 10 12 14 Number of Board meetings time 10 12 14

董事会审议议案数量 件 54 37 65 Number of proposals reviewed by the Board number 54 37 65

次 7 3 4 Number of Nomination Committee meetings time 7 3 4提名委员会召开次数

次 6 7 6 Number of Audit Committee meetings time 6 7 6审计委员会召开次数

次 2 3 3 Number of Compensation and Assessment Committee meetings time 2 3 3薪酬与考核委员会召开次数

战略与可持续发展委员会召开次数 次 2 1 1 Number of Strategy and Sustainability Committee meetings time 2 1 1

独立董事工作会议召开次数 次 5 4 4 Number of Independent Directors' working meetings time 5 4 4

反商业贿赂及反贪污 Anti-commercial bribery and anti-corruption

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

反商业贿赂与反贪污培训覆盖比例 - 董事 % 100 100 / Anti-commercial bribery and anti-corruption training coverage - % 100 100 /Directors

反商业贿赂与反贪污培训覆盖比例 - 高级管理层 % 100 100 / Anti-commercial bribery and anti-corruption training coverage - % 100 100 /

Senior management

反商业贿赂与反贪污培训覆盖比例 - 中级管理层 % 100 100 / Anti-commercial bribery and anti-corruption training coverage - % 100 100 /

Middle management

反商业贿赂与反贪污培训覆盖比例 - 普通员工 % 100 100 / Anti-commercial bribery and anti-corruption training coverage - % 100 100 /

Non-managerial employees

商业道德争议事件造成的经济损失 万元 0 0 0 Economic losses caused by business ethics controversies RMB 10000 0 0 0

发生重大违法违规事件 起 0 0 0 Occurrence of major violations of major violations of laws and case 0 0 0

regulations

风险管理与内部控制 Risk management and internal control

指标名称 单位 2025 2024 2023 Indicator Unit 2025 2024 2023

风控体系覆盖所属公司比例 % 100 / / Proportion of subsidiaries covered by the risk control system % 100 / /

商务合同法律审核率 % 100 100 100 Legal review rate of commercial contracts % 100 100 100

重大经营决策法律审核率 % 100 100 100 Legal review rate of major business decisions % 100 100 100

※ 注释： ※ Note:

1. 受限于信息追溯难度，本报告部分数据于本年度新增披露，但不再追溯 2023 年度及 2024 年度数据（已标注“/ ”），我们将持续关注数据连续性， 1.Due to the difficulty of information traceability certain data in this report is newly disclosed in the current year. Data for 2023 and 2024 is

未来将持续披露相关指标。 not retrospectively adjusted (marked with "/"). We will continue to focus on data continuity and disclose relevant indicators in the future.

152153招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

指标索引 INDEX OF INDICATORS

《深圳证券交易所上市公司自律监管指引第 17 号——可持续发展报告（试行） 》 SZSE Guideline No. 17

披露要求 报告章节 Disclosure requirement Report chapter

应对气候变化 应对气候变化 Climate change response Climate Change Response

污染物排放 环境合规管理 Pollutant discharge Environmental Compliance Management

废弃物处理 环境合规管理 Waste management Environmental Compliance Management

生态系统和生物多样性保护 生态环境保护 Ecosystem and biodiversity protection Ecological and Environmental Protection

环境合规管理 环境合规管理 Environmental compliance management Environmental Compliance Management

能源利用 环境合规管理 Energy utilization Environmental Compliance Management

水资源利用 资源使用 Water resource utilization Resource Utilization

循环经济 资源使用 Circular economy Resource Utilization

乡村振兴 和谐社区 Rural revitalization Harmonious Community

社会贡献 和谐社区 Social contributions Harmonious Community

创新驱动 智慧公路建设 Innovation-driven development Smart Expressway Development

科技伦理 智慧公路建设 Ethics of science and technology Smart Expressway Development

供应链安全 伙伴共赢 Supply chain security Win-Win Partnership

平等对待中小企业 伙伴共赢 Equal treatment of SMEs Win-Win Partnership

产品和服务安全与质量 公路品质与运营安全 Product and service safety and quality Expressway Quality and Operational Safety

数据安全与客户隐私保护 数据安全与客户隐私保护 Data security and customer privacy protection Data Security and Customer Privacy Protection

员工 员工保障 Employees Employee Protection

尽职调查 议题重要性评估 Due diligence Topic Materiality Assessment

利益相关方沟通 风险管理与内部控制 Stakeholder engagement Risk Management

反商业贿赂及反贪污 商业道德 Anti-commercial bribery and anti-corruption Business Ethics

反不正当竞争 商业道德 Anti-unfair competition Business Ethics

154155招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

全球报告倡议组织（GRI）索引 GRI Content Index

招商局公路网络控股科技有限公司已参照 GRI 标准披露 2025 年 1 月 1 日至 2025 年 12 月 31 日期间的信息。 CMET has reported the information cited in this GRI content index for the period from January 1 2025 to December 31 2025 with reference to the GRI Standards.GRI 标准 披露项 页码 / 备注 GRI Standard Disclosure item Page/remark

GRI2：一般披露 2021 GRI 2: General Disclosures 2021

2-1 组织详细情况 12-17 2-1 Organizational details 12-17

2-2 纳入组织可持续发展报告的实体 02-05；12-17 2-2 Entities included in the organization's sustainability reporting About This Report 02-05；12-17

2-3 报告期、报告频率和联系人 02-05；170 2-3 Reporting period frequency and contact point 02-05；170

2-4 信息重述 138-153 2-4 Restatements of information 138-153

2-6 活动、价值链和其他业务关系 12-17 2-6 Activities value chain and other business relationships 12-17

2-7 员工 118-127 2-7 Employees 118-127

2-9 管制架构和组成 40 2-9 Governance structure and composition 40

2-11 最高管治机构的主席 08-11 2-11 Chair of the highest governance body 08-11

2-12 在管理影响方面，最高管治机构的监督作用 28-31；40-44 2-12 Role of the highest governance body in overseeing the management of impacts 28-31；40-44

2-13 为管理影响的责任授权 28-31；40-44 2-13 Delegation of responsibility for managing impacts 28-31；40-44

2-14 最高管治机构在可持续发展报告中的作用 28-31 2-14 Role of the highest governance body in sustainability reporting 28-31

2-15 利益冲突 45 2-15 Conflicts of interest 45

2-16 重要关切问题的沟通 20-23 2-16 Communication of critical concerns 20-23

2-17 最高管治机构的共同知识 28-31 2-17 Collective knowledge of the highest governance body 28-31

2-18 对最高管治机构的绩效评估 31；44 2-18 Evaluation of the performance of the highest governance body 31；44

2-19 薪酬政策 119-120 2-19 Remuneration policies 119-120

2-20 确定薪酬的程序 119-120 2-20 Process to determine remuneration 119-120

2-21 年度总薪酬比率 144 2-21 Annual total compensation ratio 144

2-22 关于可持续发展战略的声明 08-11；90-93 2-22 Statement on sustainable development strategy 08-11；90-93

2-23 政策承诺 08-11；50-51；124-125 2-23 Policy commitments 08-11；50-51；124-125

2-24 融合政策承诺 59；66-67；74-75 2-24 Embedding policy commitments 59；66-67；74-75

2-25 补救负面影响的程序 112-114 2-25 Processes to remediate negative impacts 112-114

2-26 寻求建议和提出关切的机制 20-23；121 2-26 Mechanisms for seeking advice and raising concerns 20-23；121

2-27 遵守法律法规 78 2-27 Compliance with laws and regulations 78

2-28 协会的成员资格 132 2-28 Membership associations 132

2-29 利益相关方参与的方法 22-23 2-29 Approach to stakeholder engagement 22-23

2-30 集体谈判协议 119 2-30 Collective bargaining agreements 119

GRI3：实质性议题 2021 GRI 3: Material Topics 2021

3-1 确定实质性议题的流程 20-21；24-27 3-1 Process to determine material topics 20-21；24-27

3-2 实质性议题清单 27 3-2 List of material topics 27

3-3 实质性议题的管理 20-21；24-27 3-3 Management of material topics 20-21；24-27

156157招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

GRI 标准 披露项 页码 / 备注 GRI Standard Disclosure item Page/remarks

GRI101：生物多样性 2024 GRI 101: Biodiversity 2024

101-1 阻止和扭转生物多样性丧失的政策 112-115 101-1 Policies to halt and reverse biodiversity loss 112-115

101-2 生物多样性影响的管理 112-115 101-2 Management of biodiversity impacts 112-115

101-3 获取和惠益分享 112-115 101-3 Access and benefit-sharing 112-115

101-4 确定生物多样性的影响 112-113 101-4 Identification of biodiversity impacts 112-113

101-5 具有生物多样性影响的地点 112-113 101-5 Locations with biodiversity impacts 112-113

101-6 生物多样性丧失的直接驱动因素 112-113 101-6 Direct drivers of biodiversity loss 112-113

101-7 生物多样性状况的变化 112-113 101-7 Changes to the state of biodiversity 112-113

101-8 生态系统服务 114-115 101-8 Ecosystem services 114-115

经济 Economic

GRI201：经济绩效 2016 GRI 201 Economic Performance 2016

201-1 直接产生和分配的经济价值 44 201-1 Direct economic value generated and distributed 44

201-2 气候变化带来的财务影响以及其他风险和机遇 90-91 201-2 Financial implications and other risks and opportunities due to climate change 90-91

201-3 固定福利计划义务和其他退休计划 118-119 201-3 Defined benefit plan obligations and other retirement plans 118-119

GRI203：间接经济影响 2016 GRI 203 Indirect Economic Impacts 2016

203-1 基础设施投资和支持性服务 130-135 203-1 Infrastructure investments and services supported 130-135

203-2 重大间接经济影响 65 203-2 Significant indirect economic impacts 65

GRI205：反腐败 2016 GRI 205 Anti-corruption 2016

205-1 已进行腐败风险评估的运营点 48-49 205-1 Operations assessed for risks related to corruption 48-49

205-2 反腐败政策和程序的传达及培训 48-49 205-2 Communication and training about anti-corruption policies and procedures 48-49

205-3 经确认的腐败事件和采取的行动 48-49 205-3 Confirmed incidents of corruption and actions taken 48-49

GRI206：反竞争行为 2016 GRI 206 Anti-competitive Behavior 2016

206-1 针对反竞争行为、反托拉斯和反垄断实践的法律诉讼 50 206-1 Legal actions for anti-competitive behavior anti-trust and monopoly practices 50

环境 Environmental

GRI301：物料 2016 GRI 301 Materials 2016

301-1 所用物料的重量或体积 不适用 301-1 Materials used by weight or volume Not applicable

301-2 所用循环利用的进料 87 301-2 Recycled input materials used 87

301-3 再生产品及其包装材料 不适用 301-3 Reclaimed products and their packaging materials Not applicable

GRI302：能源 2016 GRI 302 Energy 2016

302-1 组织内部的能源消耗量 138-139 302-1 Energy consumption within the organization 138-139

302-2 组织外部的能源消耗量 不涉及 302-2 Energy consumption outside of the organization Not involved

158159招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

GRI 标准 披露项 页码 / 备注 GRI Standard Disclosure item Page/remarks

302-3 能源强度 138-139 302-3 Energy intensity 138-139

302-4 减少能源消耗 79-83；86-87 302-4 Reduction of energy consumption 79-83；86-87

302-5 产品和服务的能源需求下降 90-91 302-5 Reductions in energy requirements of products and services 90-91

GRI303：水资源与污水 2018 GRI 303: Water and Effluents 2018

303-1 组织与水作为共有资源的相互影响 81-82；86 303-1 Interactions with water as a shared resource 81-82；86

303-2 管理与排水相关的影响 82 303-2 Management of water discharge-related impacts 82

303-3 取水 142 303-3 Water withdrawal 142

303-4 排水 142 303-4 Water discharge 142

303-5 耗水 142 303-5 Water consumption 142

GRI305：排放 2016 GRI 305: Emissions 2016

305-1 直接 ( 范围 1) 温室气体排放 138 305-1 Direct (Scope 1) GHG emissions 138

305-2 能源间接 ( 范围 2) 温室气体排放 138 305-2 Energy indirect (Scope 2) GHG emissions 138

305-3 其他间接 ( 范围 3) 温室气体排放 138 305-3 Other indirect (Scope 3) GHG emissions 138

305-4 温室气体排放强度 138 305-4 GHG emissions intensity 138

305-5 温室气体减排量 138 305-5 Reduction of GHG emissions 138

305-7 氮氧化物 (NOX)、硫氧化物 (SOX) 和其他重大气体排放 138 305-7 Nitrogen oxides (NOx) sulfur oxides (SOx) and other significant air emissions 138

GRI306：废弃物 2020 GRI 306: Waste 2020

306-1 废弃物的产生及废弃物相关重大影响 81-83；140 306-1 Waste generation and significant waste-related impacts 81-83；140

306-2 废弃物相关重大影响的管理 81-83 306-2 Management of significant waste-related impacts 81-83

306-3 产生的废弃物 140 306-3 Waste generated 140

306-4 从处置中转移的废弃物 81-83 306-4 Waste diverted from disposal 81-83

306-5 进入处置的废弃物 81-83 306-5 Waste directed to disposal 81-83

GRI308：供应商环境评估 2016 GRI 308: Supplier Environmental Assessment 2016

308-2 供应链的负面环境影响以及采取的行动 128-129 308-2 Negative environmental impacts in the supply chain and actions taken 128-129

社会 Social

GRI401：雇佣 2016 Gri401: Employment 2016

401-1 新进员工雇佣率和员工流动率 144-147 401-1 New employee hires and employee turnover 144-147

Benefits provided to full-time employees that are not provided to temporary or part-time

401-2 提供给全职员工 ( 不包括临时或兼职员工 ) 的福利 118-127 401-2 118-127employees

401-3 育儿假 118 401-3 Parental leave 118

GRI403：职业健康与安全 2018 GRI 403: Occupational Health and Safety 2018

160161招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

GRI 标准 披露项 页码 / 备注 GRI Standard Disclosure item Page/remarks

403-1 职业健康安全管理体系 126-127 403-1 Occupational health and safety management system 126-127

403-2 危害识别、风险评估和事故调查 68-70；126-127 403-2 Hazard identification risk assessment and incident investigation 68-70；126-127

403-3 职业健康服务 126-127 403-3 Occupational health services 126-127

403-4 职业健康安全事务：工作者的参与、意见征询和沟通 66；126；126-127 403-4 Worker participation consultation and communication on occupational health and safety 66；126；126-127

403-5 工作者职业健康安全培训 126-127 403-5 Worker training on occupational health and safety 126-127

403-6 促进工作者健康 126-127 403-6 Promotion of worker health 126-127

403-7 预防和减缓与业务关系直接相关的职业健康安全影响 126-127 Prevention and mitigation of occupational health and safety impacts directly linked by business 403-7 126-127

relationships

403-8 职业健康安全管理体系覆盖的工作者 126-127 403-8 Workers covered by an occupational health and safety management system 126-127

403-9 工伤 148 403-9 Work-related injuries 148

403-10 工作相关的健康问题 126-127 403-10 Work-related ill health 126-127

GRI404：培训与教育 2016 GRI 404: Training and Education 2016

404-1 每名员工每年接受培训的平均小时数 121 404-1 Average hours of training per year per employee 121

404-2 员工技能提升方案和过渡援助方案 120-123 404-2 Programs for upgrading employee skills and transition assistance programs 120-123

404-3 定期接受绩效和职业发展考核的员工百分比 119 404-3 Percentage of employees receiving regular performance and career development reviews 119

GRI405：多元化与平等机会 2016 GRI 405: Diversity and Equal Opportunity 2016

405-1 管治机构与员工的多元化 42；124-125 405-1 Diversity of governance bodies and employees 42；124-125

GRI406：反歧视 2016 GRI 406: Non-discrimination 2016

406-1 歧视事件及采取的纠正行动 124-125 406-1 Incidents of discrimination and corrective actions taken 124-125

GRI407：结社自由与集体谈判 2016 GRI 407: Freedom of Association and Collective Bargaining 2016

Operations and suppliers in which the right to freedom of association and collective bargaining may

407-1 结社自由与集体谈判权利可能面临风险的运营点和供应商 126 407-1 126be at risk

GRI408：童工 2016 GRI 408: Child Labor 2016

408-1 具有重大童工事件风险的运营点和供应商 118 408-1 Operations and suppliers at significant risk for incidents of child labor 118

GRI409：强迫或强制劳动 2016 GRI 409: Forced or Compulsory Labor 2016

409-1 具有强迫或强制劳动事件重大风险的运营点和供应商 118-119 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor 118-119

GRI413：当地社区 2016 GRI 413: Local Communities 2016

413-1 有当地社区参与、影响评估和发展计划的运营点 130-131 413-1 Operations with local community engagement impact assessments and development programs 130-131

GRI416：客户健康与安全 2016 GRI 416: Customer Health and Safety 2016

416-1 评估产品和服务类别的健康与安全影响 66-73 416-1 Assessment of the health and safety impacts of product and service categories 66-73

416-2 涉及产品和服务的健康与安全影响的违规事件 68 416-2 Incidents of non-compliance concerning the health and safety impacts of products and services 68

GRI418：客户隐私 2016 GRI 418: Customer Privacy 2016

418-1 涉及侵犯客户隐私和丢失客户资料的经证实的投诉 74 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data 74

162163招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

报告鉴证 REPORT VERIFICATION

164165招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

166167招商公路附录2025年度可持续发展报告

China Merchants Expressway Network & Technology Holdings Co. Ltd. Appendix Sustainability Report 2025

168169招商公路

China Merchants Expressway Network & Technology Holdings Co. Ltd.意见反馈

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