Jiangsu Expressway Company Limited (Stock Code: 00177) has approved a digital transformation project for the Nanjing Toll Station of the Shanghai-Nanjing Expressway. The agreement involves Nanjing Micro Video Technology Company Limited and its wholly-owned subsidiary, Jiangsu Yuanchuang Transportation Technology Company Limited, which will jointly provide software and hardware services.

The project runs from November 10, 2025, to December 31, 2025. Under the arrangement, the contract value for software-related improvements undertaken by Micro Video Company is capped at RMB 2.1 million, while hardware-related work by Yuanchuang Company, including mechanical and electrical facility upgrades, is capped at RMB 10 million. According to the announcement, the contract price was determined through an open tender, with an independent third-party audit firm helping establish the tender control price prior to bidding.

This transaction is categorized as a continuing connected transaction, as both Micro Video Company and Yuanchuang Company are indirectly controlled by Jiangsu Communications Holding, the controlling shareholder of Jiangsu Expressway. Relevant ratios under the Hong Kong Listing Rules exceed 0.1% but are below 5%, requiring only the announcement of the transaction rather than independent shareholders’ approval. The board stated that the transaction was conducted on normal commercial terms and is not expected to affect the company’s independence, core business operations, or the interests of minority shareholders.