Anhui Expressway (00995) and eight of its operating subsidiaries have signed 13 General Contracting Contracts for Integrated Maintenance Design and Construction with a consortium led by Anhui Transport Consulting & Design Institute on 21 April 2026. The counterparties—Design Institute, Anhui Transportation Engineering Group, Anhui Transportation Road Maintenance, Anhui Expressway Testing & Research Centre and Anhui Qixing Engineering—are all associates of controlling shareholder Anhui Transportation Holding Group (33.63% stake), rendering the transactions continuing connected transactions under Hong Kong Listing Rules.
The contracts cover routine and major maintenance for multiple expressway sections—ranging from Hefei, Chuzhou and Gaojie management offices to the Anqing Yangtze River Bridge, Fuyang/Fuzhou and Fuzhou sections of the G35 Expressway, and other regional subsidiaries. Aggregated consideration for the 13 mandates totals RMB624.41 million (approximately USD86 million), with the largest individual contract being RMB137.43 million for the Hefei network and the smallest RMB9.99 million for Xuanguang Company.
Each contract runs for 730 days starting 21 April 2026 and may be renewed annually for up to three additional years, subject to performance evaluation. Payments will be settled primarily on a monthly basis from internal funds; 3% of project payments is retained as a one-year quality-guarantee deposit. Service providers were selected through an open tender that attracted at least three bids and incorporated price caps, qualification reviews and workload assessments.
The board has set aggregate annual caps of RMB301.90 million for 2026, RMB296.99 million for 2027 and RMB25.53 million for 2028. When combined with the caps already approved for similar 2025 contracts, the peak aggregated cap reaches RMB335.41 million for 2026. The relevant percentage ratios fall between 0.1% and 5%, qualifying the deals for exemption from independent shareholder approval; they remain subject to announcement, annual reporting and review requirements under Chapter 14A of the Listing Rules.
Four directors connected to Anhui Transportation Holding Group—Wang Xiaowen, Yu Yong, Chen Jiping and Wu Changming—abstained from voting. The board, including all independent non-executive directors, concluded that the terms are fair, on normal commercial terms and in the interests of the company and its shareholders.