Sichuan Road & Bridge reappoints auditor, plans $5 bn ABS issuance

Sichuan Road & Bridge has confirmed the re-appointment of its accounting firm as its financial and internal control auditor for 2025. This decision, approved by the board, sets the total audit fee at RMB 7.9 million, with RMB 6.75 million for financial audit and RMB 1.15 million for internal control audit.

Concurrently, the company is proceeding with the establishment and issuance of asset-backed securities (ABS) of up to RMB 5 billion on the Shanghai Stock Exchange, aiming to revitalize assets and diversify financing. The ABS will be issued in one or multiple tranches, with an expected duration of up to three years.

For the third quarter of 2025, Sichuan Road & Bridge reported a 6.33% increase in total assets to RMB 254.94 billion and an 11.04% rise in net profit attributable to shareholders, reaching RMB 5.30 billion. The company also secured new contracts totaling RMB 972 million, marking a 25.16% year-on-year increase. As of September 30, 2025, external guarantees amounted to RMB 30.83 billion, or 64.46% of the company's latest audited net assets.