Ganyue Expressway ownership shifts to provincial SASAC

Jiangxi Ganyue Expressway Co., Ltd. (stock code: 600269) received notification from its controlling shareholder, Jiangxi Provincial Communications Investment Group Co., Ltd., regarding a change in its ultimate control. The Jiangxi Provincial People's Government had originally intended to transfer 90% equity of the Communications Investment Group, held by the Jiangxi Provincial Department of Transportation, to Jiangxi Provincial State-owned Capital Operation Holding Group Co., Ltd. This was initially disclosed on March 26, 2022.

However, a recent update, agreed upon by the Jiangxi Provincial Government, modifies this transfer. The 90% equity of the Communications Investment Group, still held by the Jiangxi Provincial Department of Transportation, will now be gratuitously transferred directly to the Jiangxi Provincial State-owned Assets Supervision and Administration Commission (SASAC).

Upon completion, the provincial SASAC will directly hold 90% equity of the Communications Investment Group. While the Communications Investment Group's shareholding in Ganyue Expressway remains unchanged, the actual controller of Ganyue Expressway will shift from the Jiangxi Provincial Department of Transportation to the provincial SASAC. The company pledges to promptly disclose further developments.