On 20 March 2026, Zhejiang Expressway (00576.HK) obtained shareholder approval for all resolutions tied to its proposed absorption-and-merger of Zhejiang Oceanking Development via share swap and for a comprehensive overhaul of its corporate governance structure.

Extraordinary General Meeting (EGM) • Attendance: 5.10 billion shares, representing 84.40 % of the company’s 6.04 billion issued shares. • Voting: All 18 special and ordinary resolutions passed. – Share-swap merger plan: each of the 18 sub-items received c. 99.10 % support from the non-abstaining shares (≈1.07 billion votes in favour vs. 5.58 million against). – Abolishment of the Supervisory Committee and related Articles of Association (AoA) amendments: 5.09 billion votes (99.83 %) in favour, 4.50 million (0.09 %) against. – Specific mandate to issue new A-shares, three-year dividend return plan, price-stabilisation plan and other transaction documents all carried with ≥99 % approval.

H-Share Class Meeting • Attendance: 1.08 billion H-shares (53.40 % of the H-share class). • Key outcomes: All proposed special resolutions passed. Support exceeded 99 % for merger-related items; the revised AoA received 95.13 % approval. Universal Cosmos (1.20 % of total shares) abstained on connected resolutions.

Domestic-Share Class Meeting • Attendance: 4.01 billion domestic shares, constituting 100 % of the class. • The revised AoA was approved unanimously.

Governance Changes With shareholder consent, the Supervisory Committee was abolished effective 20 March 2026. Its oversight duties shift to the Board’s Audit Committee. Former supervisors Mr. Lu Wenwei, Mr. Wang Yubing and Ms. He Meiyun have stepped down, reporting no disagreements with the Board.

Next Steps The share-swap merger and related A-share issuance remain subject to all conditions precedent in the definitive agreements. Zhejiang Expressway cautions investors that completion is not yet certain and urges prudent decision-making when dealing in the company’s securities.