Zhejiang Expressway Corporation (Zhejiang Express) signed a highway electromechanical system contract with Zhejiang Gaoxin on September 24, 2024. The contract includes providing electromechanical system maintenance and upgrade services for the Longlililong Highway and Huangqunan Highway. Zhejiang Gaoxin is a subsidiary of Zhejiang Transportation Investment Group Co., Ltd. (Transportation Group), with a shareholding ratio of 65.85%, making this transaction a related party transaction. The scope of services under the contract includes maintenance, cleaning, repairs, and upgrade services, with service fees determined through public bidding. The maintenance contract is for a period of three years, while the construction period for the upgrade and renovation contract is expected to be until December 1, 2024, followed by a 6-month trial run period and a 24-month defect liability period. Zhejiang Express is expected to pay Zhejiang Gaoxin an annual service fee of RMB 6,424,113.76, totaling RMB 33,601,392.06. This contract aims to ensure the smooth operation of the company's highway electromechanical systems and enhance the public travel experience.

Zhejiang Expressway Corporation (Zhejiang Express) signed a highway electromechanical system contract with Zhejiang Gaoxin on September 24, 2024. The contract includes providing electromechanical system maintenance and upgrade services for the Longlililong Highway and Huangqunan Highway. Zhejiang Gaoxin is a subsidiary of Zhejiang Transportation Investment Group Co., Ltd. (Transportation Group), with a shareholding ratio of 65.85%, making this transaction a related party transaction. The scope of services under the contract includes maintenance, cleaning, repairs, and upgrade services, with service fees determined through public bidding. The maintenance contract is for a period of three years, while the construction period for the upgrade and renovation contract is expected to be until December 1, 2024, followed by a 6-month trial run period and a 24-month defect liability period. Zhejiang Express is expected to pay Zhejiang Gaoxin an annual service fee of RMB 6,424,113.76, totaling RMB 33,601,392.06. This contract aims to ensure the smooth operation of the company's highway electromechanical systems and enhance the public travel experience.