Sichuan Expressway Company Limited (Stock Code: 00107) announced a new framework agreement with its controlling shareholder, Shudao Investment, to govern construction works and related services for the period from 1 January 2026 to 31 December 2026. This agreement succeeds a previous arrangement expiring on 31 December 2025.

Under the new framework, the annual transaction cap for 2026 is set at RMB2.825 billion, referencing the company’s upcoming construction and maintenance plan—particularly the ongoing Chengle Expressway Expansion Construction Project—and anticipated municipal works. The agreement maintains tender and bidding procedures, with pricing determined by open market mechanisms, comparative selection, or government-mandated rates, ensuring fairness and transparency.

Shudao Investment holds approximately 39.861% of Sichuan Expressway. Because one or more percentage ratios under the Listing Rules exceed 5%, the framework agreement is subject to independent shareholders’ approval. A circular outlining further details, including an independent board committee recommendation and advice from Halcyon Capital as the independent financial advisor, is expected to be dispatched on or before 4 December 2025. An extraordinary general meeting will be convened to consider and vote on the proposed transaction.