Zhejiang Expressway Co., Ltd. announced that the Shanghai Stock Exchange M&A and Restructuring Review Committee, at its seventh meeting of 2026 held on 29 May 2026, confirmed the company’s planned absorption and merger of Oceanking Development through a share swap and the concurrent issuance of A shares complies with reorganisation and disclosure requirements.

The proposed transaction—first disclosed on 19 August 2025 and subsequently detailed in several announcements and a circular dated 5 February 2026—remains subject to fulfilment of all conditions precedent set out in the Agreement on Absorption and Merger through Share Swap and its supplemental agreements.

Zhejiang Expressway stated it will provide timely updates on the deal’s progress and reminded investors that the transaction could still fail to become effective if any conditions precedent are not satisfied.

The board is chaired by Mr. Yuan Yingjie. Other directors include executive directors Mr. Wang Qiming and Mr. Li Wei; employee director Ms. Liu Yiying; non-executive directors Mr. Zhao Xilong and Mr. Fan Ye; and independent non-executive directors Mr. Pei Ker-Wei, Ms. Lee Wai Tsang, Rosa, and Mr. Yu Mingyuan.