Shenzhen Investment Holdings Bay Area Development Company Limited (“SIH Bay Area,” Stock Codes: 737 (HKD) and 80737 (RMB)) announced a major and connected transaction regarding the SZ Construction Works Agreement (TJ2 Section), signed on 18 December 2025 with Poly Changda. According to the circular, the contract price for the civil engineering construction works is approximately RMB1,447.78 million. Poly Changda will handle the reconstruction of a 4.94 km road section on the Shenzhen section of the Beijing-Hong Kong-Macao Expressway, with a planned construction period of 66 months.

SIH Bay Area stated in the announcement that it has secured the necessary shareholders’ approval by way of written consent from a shareholder holding more than 50% of the issued share capital, meaning no general meeting is required. The arrangement is part of the broader project to reconstruct and expand the Shenzhen portion of the expressway, aimed at improving traffic capacity and service levels. The company noted that funding for the contract price will come from internal resources and/or external bank financing, and no material upward revisions to the contract price are currently expected.