Jiangsu Expressway sees director resign, controlling shareholder increases stake

Jiangsu Expressway received a resignation letter from executive director Zhang Xinyu on December 18, 2025. Zhang will step down from his directorship and membership in the Board's Strategic Committee due to company governance adjustments. He will continue in other company roles, including deputy party secretary and chairman of the labor union. His resignation is effective upon delivery. The company plans to elect a new employee director through a workers' congress.

Concurrently, Jiangsu Expressway announced its controlling shareholder, Jiangsu Communications Holding Co., Ltd. (Jiangsu Communications), increased its stake. Between November 12, 2025, and December 17, 2025, Jiangsu Communications’ wholly-owned subsidiary, Jiangsu Yunshan Capital Management Co., Ltd., acquired 52,862,000 H shares through the Hong Kong Stock Exchange. This raised Jiangsu Communications and its concert parties' total shareholding in Jiangsu Expressway from 55.00% to 56.05%, crossing the 1% threshold.

This acquisition did not trigger a mandatory tender offer and did not change the company's controlling shareholder or actual controller. Jiangsu Communications indicated it might further increase its holdings opportunistically in the future.