Sichuan Road & Bridge controlling shareholder to cut stake

Shu Dao Investment Group Co., Ltd., the controlling shareholder of Sichuan Road & Bridge Construction Group Co., Ltd., plans to divest up to 173,911,812 shares. This represents no more than 2% of the company's total share capital, and will be carried out via block trading.

The divestment is aimed at optimizing the company's equity structure and attracting long-term investors. It is scheduled to occur between October 13, 2025, and December 31, 2025.

As of September 9, 2025, Shu Dao Investment Group holds 4,950,301,259 shares, or 56.93% of the company's total share capital. Including its concerted parties, the total holding amounts to 6,927,708,854 shares, or 79.67%. The shares targeted for reduction were acquired prior to the company's IPO.

This plan aligns with previous commitments from Shu Dao Investment Group and its concerted parties, who pledged not to transfer shares obtained through a 2022 asset acquisition and private placement for 36 months following their listing. The selling price will be determined by market conditions at the time of the transaction.