Chengdu Expressway awards civil construction contracts for expansion project

Chengdu Expressway Co., Ltd. (HKEX: 1785) announced the award of civil construction contracts for bidding sections TJ1 to TJ5 of the Chengwenqiong Expressway Expansion Project. The contracts, awarded on June 13, 2025, involve multiple subsidiaries of China Railway Group and Sichuan Road & Bridge (Group). The projects are expected to capitalize concession rights, included in the Group’s consolidated balance sheet, as intangible assets of approximately RMB4.604 billion upon completion. Approximately RMB3.68 billion of the contracts will be settled through bank loans. Construction is slated to take 30 months, and the expressway expansion is viewed as a project that will bring favorable financial income to the Group.