Zhejiang Expressway Co., Ltd. (Zhejiang, Shanghai, Hangzhou, Ningbo) signed a series of special road maintenance agreements with its controlling shareholder Traffic Group's indirect subsidiary Maintenance Company, Zhejiang Shunsong and Jiaogong Maintenance after the trading session on June 14, 2024. The agreement includes three sections, covering services such as overlay paving, road disease treatment, bridgehead paving, preventive maintenance and other projects, with a total contract value of RMB 370,680,844. In addition, Long Lililong, a wholly-owned subsidiary, also signed a special road maintenance agreement with Zhejiang Shunsong, with a total service fee of RMB 53,345,551. All transactions were determined based on market prices after public bidding, and according to Chapter 14A of the Listing Rules, these transactions constitute continuous connected transactions, but they are exempted...Show More

Zhejiang Expressway Co., Ltd. (Zhejiang, Shanghai, Hangzhou, Ningbo) signed a series of special road maintenance agreements with its controlling shareholder Traffic Group's indirect subsidiary Maintenance Company, Zhejiang Shunsong and Jiaogong Maintenance after the trading session on June 14, 2024. The agreement includes three sections, covering services such as overlay paving, road disease treatment, bridgehead paving, preventive maintenance and other projects, with a total contract value of RMB 370,680,844. In addition, Long Lililong, a wholly-owned subsidiary, also signed a special road maintenance agreement with Zhejiang Shunsong, with a total service fee of RMB 53,345,551. All transactions were determined based on market prices after public bidding, and according to Chapter 14A of the Listing Rules, these transactions constitute continuous connected transactions, but they are exempted from complying with the independent shareholder approval requirements due to the percentage of transaction amount being less than 5%. The agreement is valid until December 31, 2024. The Board of Directors believes that the terms of these agreements are fair and reasonable, and are in line with the overall interests of the company and shareholders.