Zitong Financial App NewsNanjing-Shanghai Expressway (00177.HK) $Issued an announcement on matters related to the establishment of a Hong Kong subsidiary and participation in the formation of a consortium to jointly acquire the Turkish ICA project. After the signing of the share purchase Agreement, all parties to the transaction actively promoted the acquisition work. However, in view of the fact that the parties to the transaction have not been able to reach a consensus on the relevant terms of the refinancing arrangement, which should have taken effect immediately at the time of settlement, the preconditions for the transaction under the share purchase Agreement have not been fully completed, and after friendly negotiations, the parties to the transaction decided to terminate the acquisition. In view of this, the seventh meeting of the 10th session of the board of directors of the company was held on January 27th, 2022, which examined and adopted the "motion on the termination of the acquisition of foreign assets by the parties of the company and the consortium". It was agreed that the company should terminate the acquisition of the company's acquisition of ICA IC financing TA ASTALDI ç ü Bo K ö pr ü s ü ve Kuzey Marmara Otoyolu Yat in Turkey, the 51% stake in letme A., 51% of the original shareholder of ICA, and the 51% stake in Eurasia Motorway Maintenance and Operations Limited in Hong Kong. The parties jointly signed the termination Agreement on March 9, 2022.

In view of the fact that both parties to the project have determined to terminate the transaction, the company and the Chinese consortium have not paid to each other and have not actually acquired the property rights and operating rights of the Turkish ICA project, the above matters will not have a significant impact on the operating and financial position of the company.