Jiangsu Expressway unit invests CNY 249.7m in subsidiary
Jiangsu Expressway (SSE:600377) announced it will invest CNY 249.7 million in its subsidiary, Jiangsu Xitai Expressway, increasing its registered capital. This investment is part of a broader capital increase of CNY 559.9 million for Jiangsu Xitai Expressway, with selected construction contractors contributing CNY 60.5 million as social capital and existing shareholders contributing CNY 499.4 million. Following the investment, Jiangsu Expressway's stake in Jiangsu Xitai Expressway will decrease from 50% to 47.5%, though it retains control. Jiangsu Expressway’s holding subsidiary, Guangjing Xicheng, is planning to purchase asphalt and new materials from Jiangsu High-Speed New Materials Technology Co., Ltd. worth CNY 259.3 million in 2025. This amount represents 81.21% of similar business and will be reviewed in the shareholders' meeting.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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