The subsidiary of the Sichuan Cheng-Chongqing Expressway (00107) plans to acquire 85% of Hubei Jingyi Expressway Co., Ltd.'s shares for 2,409 billion yuan

According to Zhitong Finance App, the Sichuan Cheng-Chongqing Expressway (00107) issued an announcement. On December 19, 2025, Shunan Company, a direct wholly-owned subsidiary of the company, signed an equity transfer agreement with Shudao Venture Capital. Based on this, Shunan Company conditionally agreed to purchase 85% of the shares of the target company (Hubei Jingyi Expressway Co., Ltd.) at a cost of RMB 2,409 billion. The main business of the target company is investment, construction, operation and management of the Jingyi Expressway.

The target company currently owns a franchise for the Jingyi Expressway. The Jingyi Expressway is located in Hubei Province, China. It is an important part of the Shanghai-Chengdu Expressway in the “National Highway Network Plan” approved by the State Council and promulgated by the Ministry of Transport. The total length of the Jingyi Expressway is 94.998 kilometers. It runs from Zhengjiachong Village in Jingmen City in the east to the Hubei Wuhan-Jingmen Expressway and the Xiangyang-Jingmen Expressway, west to Gaojiadian Town in Yichang City, and connected to the Wuhan-Yichang Expressway and the Yichang Yangtze River Bridge. The Jingyi Expressway starts in Duodao District of Jingmen City, Dongbao District, and Dangyang, Yiling District, and Yichang City. It connects the Yichang-Badong Expressway, Baokang-Yichang Expressway, and the Yichang-Zhangjiajie Expressway along the route. It is an important hub road leading to Xiangyang City, Zhangjiajie City, Badong County, Chengdu and other regions. Furthermore, the Jingyi Expressway will operate from December 25, 2007 to March 13, 2038.

After the acquisition is completed, the target company will become a subsidiary of the company that indirectly holds 85% of the company's shares. The financial results of the target company will be comprehensively recorded in the company's consolidated financial statements. Therefore, the acquisition of the target shares is conducive to increasing the expressway projects controlled by the company, further increasing the size of the company's assets and exerting scale effects. At the same time, the target company's injection can increase the size of the company's road network, effectively enhance the company's sustainable development capabilities, and promote the company to optimize its asset structure and consolidate its core competitiveness.