Shandong Hi-Speed to divest entire stake in Guangdong Expressway

Shandong Hi-Speed Investment Development Co. Ltd. is reducing its equity in Guangdong Provincial Expressway Development Co. Ltd. by agreement transfer. The company plans to transfer 202,429,927 A-shares, representing 9.68% of the listed company's total share capital, to Tonghui Capital. This transaction will result in Shandong Hi-Speed no longer holding any shares in the listed company, down from its previous 9.68% stake.

The shares will be transferred at a price of 12.03 yuan per share, totaling 2,435,232,021.81 yuan. This equity change was approved by the eighth-first meeting of the sixth board of directors of Shandong Hi-Speed, the controlling shareholder, and awaits approval from Shandong Hi-Speed's shareholders' meeting. It also requires approval from relevant state-owned asset regulatory authorities and confirmation from the Shenzhen Stock Exchange.

The equity change is aimed at meeting capital requirements. As of the report's signing date, Shandong Hi-Speed has no plans to increase or decrease its stake in the listed company within the next 12 months, beyond the current transfer. The controlling shareholder and actual controller of the listed company will remain unchanged.