Yuexiu Transport Infrastructure (01052) plans to acquire 85% of Shandong Qinbin Expressway's shares for 1.153.5 billion yuan

According to Zhitong Finance App, Yuexiu Transportation Infrastructure (01052) issued an announcement. On December 3, 2025, the seller (a related person of the company) signed the transfer agreement with the buyer (a wholly-owned subsidiary of the company). The seller conditionally agreed to sell and the buyer conditionally agreed to purchase the target shares (that is, 85% of the target company's Shandong Qinbin Expressway). The total transaction price was RMB 1.153.5 billion.

Delivery must first be satisfied (or waived, if applicable) from the preconditions set out in the transfer agreement. After delivery, the company will indirectly hold 85% of the target company's shares. After delivery, the target company will become an indirect non-wholly-owned subsidiary of the Company and its financial results will be incorporated into the Group's financial statements.

The Qinbin Expressway is the fastest coastal expressway in the Bohai Rim region. The target highway is part of Shandong Province and is an important part of the Beijing-Harbin Expressway (G1) link of the national highway network.

The target highway is located in the eastern coastal region of China. Shandong Province, where it is located, is a major economic, population, and industrial province in China. The acquisition is in line with the company's regional expansion strategy and can share the dividends brought by the economic development of the eastern coast. The chemical industry along the target highway is well developed, there are many seaports, and the freight channel function is remarkable, and truck traffic accounts for a high proportion (accounting for nearly 50% of traffic in 2024). The future will continue to benefit from deepening economic cooperation in the Bohai Rim region and the further strengthening of economic ties between Shandong and the Beijing-Tianjin-Hebei region. It is expected that the proportion of trucks will continue to remain relatively stable.

The Chengkou-Zhanhua section of the target highway expires in 2045, and the Lujijie to Chengkou section (including the Zhangwei Xinhe Bridge) expires in 2047. After the completion of this acquisition, the mileage weighted average remaining operating rights period of the expressways controlled by the Group will be extended by about 0.8 years, further enhancing the Group's sustainable development capacity.

The target company's revenue for the full year of 2024 was approximately RMB 752.5 million. After the completion of this acquisition, the Group's revenue sources can be expanded, and since the target company was profitable for the year ending December 31, 2024 and the 8 months ending August 31, 2025, the company believes that the target company can continue to contribute profits to the Group after delivery. It will also complement the Group's asset portfolio after the sale of 60% shares in Tianjin Jinxiong Expressway and the end of the Guangzhou Beihuan Expressway toll period in 2024, helping to reduce the diversion of the Group's other projects due to road networks or Operating rights have expired one after another, and the Guangzhou North Second Ring Expressway renovation and expansion construction have had an impact on revenue and profits.