Zhejiang Expressway shareholders approve new director, major subsidiary guarantee

Zhejiang Expressway Co., Ltd. held its Extraordinary General Meeting (EGM) on December 19, 2025, where shareholders passed several key resolutions. Zhao Xilong was elected as a non-executive director, with 92.06% of the total shares present at the EGM voting in favor. The company also resolved to appoint Pan-China Certified Public Accountants as its domestic auditor, a decision supported by 99.83% of the shares.

A major approval involved the provision of an unconditional, irrevocable, joint and several guarantee by Zhejiang Expressway and Ningbo Zhoushan Port Group Co., Ltd. for an insurance debt investment plan of up to RMB5 billion over 25 years. This plan, undertaken by subsidiary Zhejiang Yongzhou Parallel Line Phase II Expressway Co., Ltd., received 98.82% affirmative votes. Furthermore, amendments to the company's articles of association were approved unanimously by 100% of the shares present at the EGM.

At the EGM, shareholders representing 4,707,284,084 shares, or 77.96% of the company's total issued share capital, were present in person or by proxy. Yang Xudong concluded his term as a non-executive director, and the board expressed appreciation for his contributions.