Guangdong Expressway announces significant share transfer, director's resignation

Guangdong Provincial Expressway Development disclosed on November 29, 2025, that its shareholder, Shandong High-Speed Investment Development Co., Ltd., will transfer its entire holding of 202,429,927 unrestricted A-shares, representing 9.68% of the company's total share capital, to Shandong Tonghui Capital Investment Group Co., Ltd. via an agreement. This transaction, valued at CNY 2,435,232,021.81, means Shandong High-Speed Investment will no longer hold shares in Guangdong Provincial Expressway Development after the transfer. The equity change will not alter the company's controlling shareholder or actual controller.

Shandong Tonghui Capital, established on September 30, 2016, with a registered capital of CNY 1,300,000,000, will become a significant shareholder. The transfer, pending approvals, is aimed at meeting Shandong High-Speed Investment's capital needs. Concurrently, Ms. Wu Hao, a director, resigned from the board for work-related reasons on November 28, 2025, with her resignation effective immediately.