Sichuan Expressway renews oil supply deal, appoints new independent director

Sichuan Expressway Company Limited has renewed its refined oil framework agreement with PetroChina Sichuan Sales Branch. PetroChina is a connected person due to its 49% equity interest in Zhonglu Energy, a subsidiary of Sichuan Expressway. The agreement, effective from January 1, 2026, to December 31, 2026, involves Zhonglu Energy purchasing refined oil and related carriage services. The annual cap for this transaction for 2026 is set at RMB1,400,000 thousand.

The board and independent non-executive directors have confirmed the agreement's terms are fair, reasonable, and on normal commercial terms, serving the company's and shareholders' best interests.

In separate board changes, Madam Bu Danlu resigned as an independent non-executive director, chairman of the audit committee, and member of the remuneration and appraisal committee, effective December 24, 2025. Mr. Luo Hong was appointed as an independent non-executive director, chairman of the audit committee, and a member of the remuneration and appraisal committee, with a term from December 24, 2025, until the expiry of the eighth session of the board.