Jiangsu Expressway Company Limited (Jiangsu Expressway) plans to invest RMB500.00 million in cash to participate in the RMB2.50 billion capital increase of associate Zijin Trust Co., Ltd., according to a board resolution passed on 29 April 2026 and disclosed on 30 April 2026. The contribution will be funded entirely with self-owned cash and executed on a pro-rata basis, allowing Jiangsu Expressway to maintain its 20.00% equity stake in the trust company.
Post-transaction, Zijin Trust’s registered capital will rise by RMB728.85 million to RMB4.00 billion, while the remaining RMB1.77 billion will be credited to the capital reserve. The overall shareholding structure will shift slightly: majority shareholder Nanjing Zijin Investment Group’s interest will edge up to 51.37% after assuming the unsubscribed portion of Sanpower Group Co., Ltd., whose stake will dilute to 3.13%. Sumitomo Mitsui Trust Bank, Limited and Nanjing New Industrial Investment Group Company Limited will each retain their 20.00% and 5.50% holdings, respectively.
An independent appraisal valued Zijin Trust’s total shareholders’ equity at RMB11.22 billion as of 31 August 2025, reflecting a 3.26% premium to audited book value and implying an assessed net asset value of approximately RMB3.43 per yuan of registered capital.
Operationally, Zijin Trust reported unaudited 2025 revenue of RMB1.80 billion and net profit of RMB1.11 billion, up from audited 2024 figures of RMB1.73 billion and RMB1.04 billion, respectively. Total assets reached RMB13.90 billion at end-2025, with a gearing ratio of 20.60%.
Jiangsu Expressway stated that the investment secures its governance position in Zijin Trust, optimises asset allocation and supports long-term returns, without materially affecting the group’s consolidated financial statements. Completion remains contingent on approvals from the State-owned Assets Supervision and Administration Commission and the National Financial Regulatory Administration Jiangsu Bureau. The company flagged completion risk and committed to further disclosures as the process advances.