On the long road, let us sing—echoing the earth’s grand aspirations.

Abstract:

On August 9 this year, Kan She Co., Ltd. held a grand IPO ceremony for its A-share listing at the Shanghai Stock Exchange. For Kan She’s employees, this is a day that will forever be etched in their memories—a day marking the company’s renewed vigor after 60 years of steady accumulation, as it stands once again at a brand-new starting point and embarks on a new journey of bold exploration and far-reaching aspirations.

As a witness and participant in the vigorous development of Guizhou’s transportation infrastructure, what kind of strong cards will Kan She Shares play after its IPO? Guided by the goal of helping Guizhou “achieve a moderately prosperous society in all respects at the same time,” what exciting surprises will Kan She Shares bring to Guizhou?

Guizhou—a brilliant pearl nestled on the Yunnan-Guizhou Plateau. “A thousand rivers in Jiangnan, ten thousand mountains in Yunnan and Guizhou”—and the old saying, “You can’t even hear a shout from across the mountains, and it takes half a day to walk between them”—perfectly captured the reality of Guizhou’s past transportation conditions. From the groundbreaking of our province’s first high-grade highway in 1986 to achieving expressway connectivity to every county by the end of 2015, Guizhou has completely shattered its traditional transportation patterns and redefined the concepts of time and space.

Transportation has transformed mindsets, bringing a fresh new look to villagers’ lives. Transportation has become the “major artery” driving Guizhou’s poverty alleviation efforts and boosting its economic development, creating the necessary conditions for the province to deeply integrate into the Belt and Road Initiative, the Yangtze River Economic Belt, and the Pearl River Delta region. It is having a significant and far-reaching impact on Guizhou’s productive forces layout, economic development transformation, enhancement of social benefits, and continuous improvement of people’s livelihoods.

The construction of major transportation infrastructure has fulfilled the dreams and aspirations of people living deep in the mountains, while also bringing Guizhou closer to the rest of the world. Behind this tremendous transformation stands the pioneering force—the Guizhou Provincial Transportation Planning, Survey & Design Institute Co., Ltd. (hereinafter referred to as “Kanshe Shares”)—which has spanned across Guizhou’s rivers and mountains, charting economic lifelines and painting vivid blueprints for the province’s future.

Having undergone 60 years of arduous journeys and pioneering innovation, Kan She Co., Ltd. has, filled with great ambition and determination, written numerous magnificent and awe-inspiring chapters in the history of infrastructure development—not only in Guizhou Province but throughout China. Over the past nearly 60 years, the company has undertaken more than 60% of Guizhou’s road network survey and design work. Its business now extends across the entire country and even into overseas markets, witnessing firsthand how Guizhou’s once impassable barriers have been transformed into smooth, accessible routes, and its rugged ravines have become vast, flat plains.

While personally witnessing the remarkable transformation of Guizhou’s transportation infrastructure, we have also laid a solid foundation for our own sustainable development. In August 2017, Kan She Shares successfully listed on the Shanghai Stock Exchange. Guided by the vision of “rooted in Guizhou, with a global outlook,” we remain committed to innovation and are forging ahead with determination, continuing to write new chapters in Kan She Shares’ development and contributing to a new era in global transportation!

Half a Century: A Turbulent and Remarkable Journey

— Pioneering the path for mountainous Guizhou

Guizhou Provincial Transportation Planning, Survey and Design Research Institute Co., Ltd. (formerly Guizhou Provincial Transportation Survey and Design Institute) was established in 1958 and was originally affiliated with the Guizhou Provincial Department of Transport. In 1994, it began a pilot program to transform from a public institution into an enterprise; in October 2001, it was restructured as a state-owned enterprise; and on April 30, 2010, it was reorganized into a joint-stock company.

Over billions of years, the relentless forces of time and tectonic shifts have given rise to the majestic and breathtaking Yunnan-Guizhou Plateau—a vast elevated region that straddles the transition zone between the eastern plains and the western plateau. It is here that Guizhou, China’s only mountainous province with no plains at all, is situated. Towering peaks and lofty ridges, swirling mists and colorful sunsets, along with an intricate network of deep ravines and extremely complex geological conditions, have made travel exceedingly difficult for generations of Guizhou residents. Thus, building green highways and breaking free from these towering mountains has long been a cherished aspiration in the hearts of every generation of employees at Kanshe Shares.

In 1958, our journey of dreams began. From the establishment of the Guizhou Provincial Transportation Survey and Design Institute to the formation of Kan She Co., Ltd., we have overcome countless obstacles and traversed years marked by passionate dedication, laying a solid foundation with courage and wisdom.

In 1978, riding on the tailwind of reform and opening-up, Kan She Co., Ltd. seized new development opportunities. Over the following three decades, numerous high-grade roads and expressways were successively completed and opened to traffic, achieving remarkable results and propelling Kan She Co., Ltd. into a period of rapid growth.

Kan She Co., Ltd. strides forward with firm and confident steps, always keeping pace with the times and continuously forging ahead. In April 2010, the Guizhou Provincial Transportation Survey and Design Institute was reorganized into “Guizhou Provincial Transportation Planning, Survey and Design Research Institute Co., Ltd.” Under the consistent development strategy of boosting enterprise growth through science and technology and fostering independent innovation, the company has established a development plan centered around three major business segments: “engineering consulting, engineering contracting, and scientific research & informationization.” In August 2017, the company made its initial public offering of A-shares and successfully listed on the main board of the Shanghai Stock Exchange.

In just a few short years, Kan She Co., Ltd. has consistently upheld high professional standards while tackling complex topographical features and rare karst geological environments. The company has meticulously and diligently conducted surveys for each project, tirelessly optimized every route, carefully calculated every piece of data, and painstakingly crafted every drawing. As the saying goes, "Through repeated refinement, steel is forged." Kan She Co., Ltd. has made remarkable progress in such fields as planning and research, surveying and design, engineering consulting, construction, testing, supervision, geological hazard prevention, scientific research, software development, and information technology infrastructure. Its operating revenue and tax contributions have steadily risen year after year, and its independent innovation capabilities continue to strengthen. Thus, a diversified development path has now been laid out in the history of Kan She Co., Ltd.'s growth.

Diligence and hard work have given rise to today’s brand-new Kanshe Co., Ltd., which has grown into a leading domestic engineering and technical service provider—driven by engineering consulting, bolstered by general contracting services, and seamlessly integrated across the entire industry chain. We have achieved one creative breakthrough after another in sectors such as highways, municipal engineering, construction, and water transport, enabling us to offer “one-stop” services tailored to clients from diverse industries. Under the leadership of the provincial Party committee, provincial government, and Department of Transport, we have opened up 22 major transportation corridors leading out of the province, drawing up breathtaking blueprints and weaving together magnificent dreams.

Looking down upon the land of China, the gridlines meticulously drawn by Kan She Shares for the colorful Guizhou Province are majestic and grand, stretching endlessly through time and standing solemnly amidst forests and valleys.

Green avenues and magnificent bridges—each one a beautifully woven, colorful thread—tightly connect Guizhou’s profound history with its breathtaking landscapes, powerfully driving the development of both cities and villages. As a result, Guizhou’s stunning mountains and rivers have taken on a poetic, picturesque quality, and “Colorful Guizhou” has become even more open and inclusive.

The days when Guizhou’s transportation was described as “a thousand-mile journey to Yelang, westward travel that makes one grow old” are gone forever. Guizhou—once characterized by “not a single foot of flat land and not a single coin of silver per person”—is now undergoing earth-shattering transformations. These changes are the result of the passion and hard work of every employee at Kan She Co., Ltd.

Transformation and Innovation—Quality First

— Building high-quality, efficient leading enterprises

Since its establishment in 1958, Kan She Co., Ltd. has gone through a journey—from being a state-owned enterprise to becoming today’s publicly listed company. Along the way, it has experienced moments of hesitation and uncertainty, as well as bursts of passion and hope; yet what has remained constant is its unwavering commitment to reform and innovation.

In the vast river of history, 60 years may seem like but a fleeting moment—but precisely this brief glimpse has given rise to a series of milestone entrepreneurial stories for Kanshe Shares. As the pace of economic globalization accelerates and market-oriented economic reforms deepen, Kanshe Shares has proactively adapted, continuously deepening reform and development, passionately pursuing progress, breaking new ground, and forging ahead with courage. This has helped propel Guizhou’s transportation sector to achieve remarkable highlights and impressive accomplishments, making outstanding contributions to the province’s economic and social development.

On the long and arduous journey spanning 60 years of trials and triumphs, Kanshe Shares—a company driven by lofty aspirations—has traversed majestic passes and rugged mountain ranges, surveyed countless landscapes, and measured deep canyons and abysses. Under the stars and moonlight, they’ve meticulously mapped latitudes and longitudes, working day and night to write a new chapter in their storied history.

During the turbulent years, over the past 60 years of overcoming countless obstacles, Kan She Co., Ltd. has achieved remarkable accomplishments, earning a stellar reputation in areas such as surveying and route selection in complex mountainous terrains, technological innovations in large-span canyon bridges, and the construction of ultra-long tunnels in mountainous regions. Specifically, the company has completed surveying and design work on over 40,000 kilometers of highways and has independently or collaboratively designed numerous world-class structures—including some of the tallest piers of their kind: the 195-meter-high pier of the Hezhang Bridge on the Bijie-Weining Expressway, which is the tallest of its kind globally; the 328-meter-high tower of the Pingtang Special Bridge on the Pingtang-Luodian Expressway—currently under construction—which is the tallest of its kind worldwide; exceptionally large-span bridges; and several extra-long tunnels. The company has received a total of 229 provincial, ministerial, and national awards, including 60 science and technology awards, 143 surveying and design awards, and 26 consulting achievement awards, leaving an indelible mark on the history of transportation development in Guizhou Province.

As of the first half of 2017, Kanshe Shares had undertaken and played a major role in a total of 154 scientific research projects, including 1 project under the National Science and Technology Support Program, 56 provincial- and ministerial-level research projects, and 92 departmental-level research projects. These projects covered a wide range of fields, such as highways, bridges, tunnels, slopes, roadbeds, pavements, traffic engineering, geological hazards, software development, and new material research and development. To date, 89 of these research projects have passed acceptance tests conducted by relevant institutions and government departments, and 50 research achievements have been evaluated and certified at the provincial and ministerial levels, with 27 of these achievements reaching internationally advanced standards.

Each outstanding achievement has steadily earned Kan She Shares’ research capabilities widespread recognition within the industry. In 2011, the National Development and Reform Commission approved the company’s establishment of the “National-Local Joint Engineering Laboratory for Mountainous Transportation Disaster Prevention and Control Technology.” In 2012, the company was recognized as a “Innovative Enterprise of Guizhou Province.” Also in 2012, the Guizhou Provincial Department of Transport approved the company’s establishment of the “Industry Research and Development Center for Highway Transportation Disaster Prevention and Mitigation Technology.” In 2011 and 2012, the Guizhou Provincial Department of Science and Technology respectively designated the company’s “Guizhou Mountainous Expressway Karst and Disaster Prevention and Control Technology Innovation Talent Team” and “Guizhou Province Large-Span Bridge Design Technology Innovation Talent Team” as provincial-level science and technology innovation talent teams. In 2014, the “Mountainous Transportation Safety and Emergency Response Technology Transportation Industry Research and Development Center,” approved by the Ministry of Transport, became one of the first industry research and development centers recognized by the Ministry of Transport and also marked the first provincial-ministerial-level industry research and development center in Guizhou’s transportation sector. In July 2016, the company was jointly recognized by six departments—including the Guizhou Provincial Commission of Economy and Information Technology, the Guizhou Provincial Department of Science and Technology, and the Guizhou Provincial Department of Finance—as the “Guizhou Provincial Enterprise Technology Center.”

In addition to possessing cutting-edge technology, the talent pool is the key to Kanshe Shares’ success. Currently, Kanshe Shares has 76 engineering and technical researchers (senior engineers at the professor level), over 1,000 professionals of various specialties, 289 individual instances of personnel holding various nationally registered professional qualification certificates, and 42 experts of various ranks. These individuals serve as the backbone supporting Kanshe Shares’ maintenance of its professional qualifications and business development, and represent the greatest source of confidence behind Kanshe Shares’ leapfrog growth.

Rooted in the province, with an eye toward the future.

— Proactively integrate into the national transportation strategy

After 60 years of arduous pioneering and relentless striving, a modern enterprise—rich in talent, technologically advanced, well-organized, comprehensively laid out, and clearly focused on its goals—has risen proudly on the land of Qianzhong. This is Guizhou’s brand, and also Guizhou’s source of pride.

Kanshe Co., Ltd. is a large private enterprise in Guizhou Province, boasting a highly qualified team of research and design professionals. The company has established multiple platforms for scientific research and talent development, including a National-Local Joint Engineering Laboratory, an Industry Research and Development Center under the Ministry of Transport, a Postdoctoral Research Station, and an Academician Workstation. It serves as a key base for cultivating transportation talent in Guizhou.

In the context of the nation’s strategic initiatives—large-scale poverty alleviation, big data, and ecological conservation—Kanshe Shares has actively participated in a series of intensive campaigns and decisive battles aimed at constructing expressways, waterways, national and provincial trunk roads, and rural highways. Guided by the principles of “integrity and dedication, cooperation and innovation, pursuit of excellence, and harmonious win-win outcomes,” and driven by the business philosophy of “technology first, operations paramount, and market-centered,” as well as the service tenet of “independent innovation, meticulous surveying and design, people-oriented approach, environmental protection, continuous improvement, and service to society,” Kanshe Shares has overcome the challenges posed by the plateau’s harsh conditions and demonstrated a spirit of hard work and perseverance, delivering one impressive achievement after another for Guizhou’s economic and social development.

Since its establishment, Kan She Co., Ltd. has accumulated extensive experience and expertise in areas such as research capabilities, human resources, corporate branding, and qualification levels, placing it at the forefront of the engineering consulting services sector in our province. In particular, its strengths in technical services for mountainous transportation projects have been steadily recognized. Over the past few years, driven by stable business growth and continuous industry expansion, Kan She Co., Ltd. has become the leading enterprise in the infrastructure engineering technical services industry in Guizhou Province.

Surveying and design is our core business. With continuous efforts to explore and innovate, Kanshe Co., Ltd. has clear goals and a well-defined strategic vision for future development.

In terms of business, we primarily focus on the highway industry. Leveraging the Group’s years of accumulated expertise in highway engineering—characterized by comprehensive, practical, scientific, and rational survey and design concepts—and underpinned by robust management of quality, schedule, and risks, we have achieved significant progress in the municipal and construction sectors. We are now poised to cultivate and expand into the rail transit and utility tunnel industries. With surveying and design, engineering supervision, and testing and inspection as our core businesses, we are expanding into the entire project construction lifecycle. We are also broadening our scope to include infrastructure general contracting services driven by engineering consulting and investment. Over the next five years, we aim to achieve a “4+2” business structure.

In terms of market development, we continue to consolidate our position in the Guizhou provincial market. Building on nearly 60 years of technical expertise in mountainous highway planning research, general design, specialized bridge engineering, extra-long tunnels, and geotechnical investigations under challenging geological conditions, we are actively expanding into provinces with terrain and geological conditions similar to those of Guizhou. To date, we have established six branch offices in Yunnan, Sichuan, Fujian, Zhejiang, and Guangdong provinces. Adopting a “borrowing a boat to go overseas” approach, we provide specialized technical support to state-owned enterprises that already have overseas operations, thereby securing business in areas such as survey and design, project management, and general contracting. Taking a “building our own ship to go overseas” strategy, we are closely aligned with the Belt and Road Initiative and have formed joint ventures with domestic enterprises—such as Guizhou Maritime Silk Road International Investment Co., Ltd.—to actively tap into the Indian infrastructure construction market. In the first half of 2017, we established branch offices in Zambia and India.

Building time-honored masterpieces and establishing a century-old foundation—this is the goal and aspiration of Kan She Co., Ltd. Although past achievements are still a source of pride, we must adopt a long-term perspective. Having grown over 60 years, Kan She Co., Ltd. remains true to its original mission and, standing at a new starting point, is actively engaging in the province’s historic journey of “accelerating development, speeding up transformation, and driving leaps forward,” thereby contributing to the nation’s infrastructure development.

Stay true to our original aspiration and set sail to brave the waves and forge ahead.

Chairman of Kan She Co., Ltd. Zhang Lin

     Looking back on the 60-year journey of Kanshe Co., Ltd., whether it was the passionate 1950s, the turbulent and tumultuous 1960s and 1970s, or the reform and opening-up era of the 1980s and 1990s—a period marked by vigorous development—our spirit of self-reliance and relentless forward momentum has been passed down through the ages. In transportation, we take pride in loyalty and find joy in dedication. Once we embrace responsibility and a sense of duty, our spirits are uplifted, our fighting spirit is inspired, and our collective strength is united.

For the past 60 years, we’ve traversed every inch of Guizhou’s land, crossed countless rivers and climbed innumerable mountains, weaving a series of breathtaking “rainbows” across Guizhou’s vast landscape.

Under the blazing sun, we sweat profusely; in the biting cold wind, we press forward bravely—without a single regret.

On the long road, we sing; great love is silent—this is the spiritual realm embodied by large-scale transportation.

Having weathered half a century of history, Kan She Co., Ltd. now finds itself in an era of great prosperity. We are fortunate to live in a time brimming with both opportunities and challenges, basking in the radiant dawn of the new century and bearing the weighty trust of our times. We are keenly aware that this period—marked by China’s rapid economic growth and the golden opportunity presented by Guizhou’s goal of “building a moderately prosperous society in all respects concurrently”—also represents a crucial stage for us to pursue even greater development.

Today, we will build upon the rich achievements of the Design Institute over the past half-century, staying true to our original aspirations. With a fresh new image as Kan She Co., Ltd., we will fully immerse ourselves in the vigorous development boom sweeping across the province and even the entire country—testing ourselves in the marketplace and growing through competition. Kan She Co., Ltd. will move forward with great strides, embodying the spirit of hard work and courageous determination that has been passed down through generations of transportation professionals, and forging a powerful voice for the future development of Kan She Co., Ltd.

Currently, Guizhou is fully committed to implementing three major strategic initiatives: large-scale poverty alleviation, big data, and a grand ecological strategy. Upholding the principle of prioritizing transportation development, Guizhou is accelerating efforts to complete the construction of 10,000 kilometers of expressways. Following the achievement of “expressway access to every county” and “paved roads connecting every village” across the province, Guizhou is now vigorously advancing a major strategic initiative aimed at ensuring “road access to every group.” Kan She Co., Ltd. will actively respond to and thoroughly implement the strategic plans laid out by the Central Government, the Provincial Party Committee, and the provincial government. We will fully seize this brand-new development platform and opportunity presented by our IPO, leveraging the power of the capital market to further enhance our core competitiveness and contribute our part to regional economic development and the nation’s “Belt and Road” initiative.

History can be recorded in words, and achievements can be quantified by numbers, but the spirit passed down over 60 years is immeasurable. It is the treasure that has enabled us to overcome all difficulties. We remain committed to carrying forward the glorious traditions of our predecessors in the transportation sector and their spirit of hard work and pioneering entrepreneurship. Upholding the quality principle of “Independent Innovation, Careful Surveying and Design, People-Oriented Approach, Environmental Protection, Continuous Improvement, and Service to Society,” we embrace a corporate ethos characterized by pragmatism, ambition, innovation, and integrity. Undaunted by challenges, we build on the past while forging ahead into the future, constantly exploring new frontiers and fostering innovation. Focusing primarily on industries such as highways, municipal engineering, construction, and water transport, we are cultivating and developing emerging sectors like rail transit and utility tunnels. While deeply rooted in the provincial market, we are actively expanding into markets beyond the province and overseas. Guided by the mission of promoting development through scientific research, we closely align with the overall strategic vision of Surveying & Design Co., Ltd., accelerating the construction of a group-based platform, strengthening our marketing system, enhancing human resource development, upgrading our science and technology innovation platforms, and driving business growth through investment and financing.

Standing at a new starting point and embarking on a new journey, we are at a critical moment—nationwide—when we are working hard to eradicate poverty and strive for an all-round moderately prosperous society. In this context, opportunities and challenges coexist. The successful IPO of Kan She Shares has sounded the clarion call for a new journey. We believe that, against the backdrop of China’s economy entering a “new normal” and the continued strengthening of global infrastructure development—including transportation—Kan She Shares, with its outstanding technology, excellent team, superior management capabilities, and forward-looking industry insights, will surely contribute its greatest technical expertise and deliver the highest-quality services to the development of our economy and society.