Shandong Hi-Speed to transfer significant stake to Anhui Expressway

Shandong Hi-Speed Company Limited announced that its controlling shareholder, Shandong Hi-Speed Group Co., Ltd., will transfer 338,419,957 shares (7% of total share capital) to Anhui Expressway Company Limited for a total of RMB 3,018,706,016.44 at a price of RMB 8.92 per share. This transaction will reduce Shandong Hi-Speed Group's stake from 70.57% to 63.57%, while Anhui Expressway will acquire a 7% stake.

The transfer is intended to optimize Shandong Hi-Speed's equity structure and enhance strategic collaboration in the highway sector. Anhui Expressway has committed not to trade or transfer the acquired shares for 12 months from the registration date and will have the right to nominate or recommend one director to Shandong Hi-Speed's board.

The transaction requires approval from relevant state-owned asset regulators, Anhui Expressway's shareholders, and confirmation from the Shanghai Stock Exchange.